Why don't you get one already graded and get it out of the slab?
I've just taken a couple of days off and spent some of it going through my ungraded Plats, taking them from the OGP and putting them into Saflip 2x2's for a more consolidated storage.
I spent as much time on each coin as I needed to write down every flaw and nuance that I saw, and I graded every coin, using a 10x loupe and my grading references in hand.
Ben, it's funny that you should mention getting them out of the slabs, because I am also sorely tempted to crack out every slabbed Plat that I own and continue with my own grading and cataloging process. I'd like to see how my grading compares with the experts.
Besides, handling all of my unslabbed Proof, Burnished and Unc. Plats and grading them was actually kinda fun.
Q: Are You Printing Money? Bernanke: Not Literally
Update: just got my REPLACEMENT $50 Unc-W plat. It has a small, acceptable ding on the crown of Liberty, but there's a very noticeable 1-mm light brown spot on the surface near the rim above the date. Looks to be (to me) a by-product of the rinse process.
I'm torn. Anyone have any experience trying to remove these kinds of spots? What would you do? Keep or return?
Besides costing me $20 every time I return it, the way the quality has been, I'm not at all sure I'd get something better. Thoughts?
I think you should return the replacement coin and call up Customer Service to have your postage refunded. This is clearly a case of a problem coin and not your changing your mind.
If you don't return it, you will always see those imperfections.
<< <i>Update: just got my REPLACEMENT $50 Unc-W plat. It has a small, acceptable ding on the crown of Liberty, but there's a very noticeable 1-mm light brown spot on the surface near the rim above the date. Looks to be (to me) a by-product of the rinse process.
I'm torn. Anyone have any experience trying to remove these kinds of spots? What would you do? Keep or return?
Besides costing me $20 every time I return it, the way the quality has been, I'm not at all sure I'd get something better. Thoughts? >>
grits-
I had the exact same problem with an '08 $25 Plat. proof. The spot was a bit larger and on Lady Liberty's neck - very distracting. I returned it and the raplacement was perfect. If you mention to the rep that you are returning it due to a quality issue and that you would like your return postage refunded, they will tell you to call back once they have the coin, let them know your return postage cost and will send you a check. They did this for me with the proof. Hope this helps.
my only other thought is that if you return it and they pull the uncs before you have the replacement, you could miss out. This almost happend to me with the plat proof.
Thank you Neo. I kinda assumed something like you described was at work...regardless, 2008 is looking like a very bad/good year!
2008 is a very good bad year! With the market being so unstable at present time, we are able to get a real appreciation of what these coins really are:
1. The only Platinum offering from the mint (ever!) 2. A successful 12 year run of Platinum coins. Other countries have tried but have end up with scattered coins over several years span. 3. The ultimate product in US minting history...definitely not for the faint of heart. 4. Probably the first bullion product in modern history to come to a close (at least it looks that way now).
With the price increases we have managed to loose flippers, speculators, and opportunists. If recent mint sales numbers are a reflection of what our true collector base is like then we are a small crowd but a die hard one at that.
Whether the Platinum Eagles come to an end or not, nothing can hurt these series! The true collectors that are here, are here to stay. In the end, that's all that matters. No other modern series is this involving and I can not see any other modern product that could be this exciting!
I paid my dues by purchasing the 3 year set and now have them in my SDB. I never expected them to be of great value during my lifetime but one day I hope my 3 children. their kids, or grandkids, will profit from my purchase and remember me.
PS: Where's Eric Jordan? He's sure being quite on the 2008 coins.
Wow! That would be great/awful if the 2008 proof plats are done for the year. I was expecting a shorter run, but didn't think they'd only one run of them. The great news is that I have already selected my proof 2008 $50 for the year. The bad news is that I just returned 10 of them to the mint last week due to dings...
If this is the last year, perhaps the mint planned on going out with a bang!
Eric
EAC member since 2011, one third of the way through my 1793 large cent type set
I think the 2008 proof plats will be back. They are not listed in the Product Availability section under Not available. I believe if they were done for the year they would be listed in this category on the U.S. Mint site.
<< <i>Who thinks that the 2008 W Plat proofs are done for good?? >>
Who thinks the 2008 W plat proofs will have a lower mintage that the 2008 W plat uncs?
Ren >>
I think that in the end, the Uncs. will be lower.
On another note, gotta love the Microsoft Rebate! I picked up a 2008 W $100 PCGS FS Plat Proof for below orig. issue price using the Mircosoft rebate + the Ebay 10% coupon!!
I doubt that the proofs are done, and also doubt that the proof mintage numbers will end up lower than the w-unc.
Still, there are so many factors at play right now, it's impossible to do anything better than make an educated guess. We have wild fluctuations in the bullion market (as I write this, platinum is below $1850/ounce, approximately 15% off its recent highs of almost $2100).
The small and seemingly shrinking pool of platinum collectors is not immune from everything else that's happening in the economy: the uncertainty in the stock market, inflation, weak U.S. dollar, talk of recession, decline in the housing market, etc., etc.
Then, of course, we have the biggest unknown: the U.S. Mint. We have no idea what the Mint is doing now, or will do in the future. One second, platinum proofs are shown as "available". The next, they are "no longer available". Then they disappear from the website. Are they being repriced? If so, higher or lower? Are they gone forever? If they come back, when will the sales window close? Will they be available for purchase through December 31, or will the Mint close things out sooner, or keep them on sale through May of 2009, or keep them on sale until stock runs out (like the 2007 anniversary set)?
The sales figures, which we rely on as a best approximation of mintage figures, are generally inaccurate, and subject to change at the will of the Mint, whenever they feel like doing so. Hard mintage figures might not come until years after sales end. This doesn't give one much comfort in throwing down $4300 on a 4 coin set of platinum coins.
Given the high prices and uncertainty, it stands to reason that 2008 will be a low mintage year, and they stand a good chance of being one of the lowest, if not the lowest, mintage year to date. Even then, if demand doesn't materialize, they might not be a profitable investment. 2009 could have lower mintages still. A decrease in platinum spot might mean that these coins will end up with a secondary market price that is higher than spot (reflecting a numismatic premium) but still be lower than the issue price paid. Look at the 2006 w uncirculated coins-- crazy low mintages, (2,577 to 3,544 total, for each of the 1/10, 1/4, 1/2 and 1 oz). A MS69 or raw 4 coin set has been selling for about $4,300-4,600 on the secondary market, even with spot at $2100. That's a decent return compared to the 2006 issue price, but not much different from the issue price on a 2008 set. 2006 ws might not be a good predictor for 2008 price behavior, but if they are, then we might be in a situation where whatever numismatic upside that might exist is already reflected in the premium paid on issue price over melt.
Is there any reason to believe that a 4 coin set of 2008 coins will be worth substantially more than issue price, or will retain numismatic value above melt to justify buying at these prices? After all, if it's just going to trace melt, you're better off -- from an investment standpoint -- just buying a "common" 4 coin set at melt, say a 1998 4 coin proof set (about $3500 with melt at $1850). At $4300 for a 2008 set with 1.85 ounces of platinum and spot at $1850, we're paying a premium of almost $900 -- the premium alone would buy a nice coin or two. If spot increases to $2325, we'd hit breakeven on issue price -- but spending $4300 on platinum bullion at $1850 spot, would get you 2.25 ounces of platinum, and when spot hit $2325 you'd have $5400 -- an $1100 profit instead of being at breakeven.
The only things we know right now is that the 2008s are expensive, and that the market conditions are in place for them to be low mintage. They could end up commanding a premium over issue price if the mintage figures remain low enough. The way I see it, if you are a collector, like me, you should buy what you need for your collection. The 2008s may go up, they may go down. Buying a set, or a coin or two, isn't going to make you rich, but won't bankrupt you either. They'll probably hold up okay in the long run. I just don't see these as a bet the farm opportunity.
around $9K on 2008 Plats this weekend. Ouch! I really hope that this is the last year. I like the coins and I just can't not buy them. Killing my coin budget!
The Mint sent my 2008 1/2 oz uncirculated platinum on July 9th and I still haven't received it. This doesn't give me much time to return it by registed mail if I decide I don't want it.
<< <i>The Mint sent my 2008 1/2 oz uncirculated platinum on July 9th and I still haven't received it. This doesn't give me much time to return it by registed mail if I decide I don't want it. >>
Not to worry, you have 30 days from the time of delivery, not time of order. In actuality, they accepted some things I sent back after about 32 or 33 days....
EAC member since 2011, one third of the way through my 1793 large cent type set
I thought I would add my opinion after reading many great comments already written (including ericj (originator of this thread), jmski, nycounsel, and others). Many thanks to you for sharing your thoughts.
I believe that the US Mint is going to reprice and re-introduce the 2008 platinum proofs. Being a monopoly, the Mint is the only creator and supplier of these items, except in the aftermarket. If the US Mint were a private, profit-making company, I would say that this mystery about the coins is a brilliant marketing ploy. Because they aren't, I would assume they are trying to determine the pricing.
As others have said, the proofs need to be priced higher than the uncs; otherwise the pricing isn't logical. Also, based upon the life of the dies and last year's sales, I would guess there are likely less than 2,000 sets created. With all the US Mint products being sold and the high price of these items, I wouldn't expect them to mint anymore.
In conclusion, when the US Mint re-introduces the platinum proofs, this may be the last time to buy them and likely the mintages will be less than the 2004 proofs. I plan to buy some coins when they are re-introduced so that i can continue my collection, even though they will be greatly priced over the bullion prices.
Well guys as Ben pointed out to me we are about to see new designs for a 6 year plat program. IF this is the case I may be forced to collect proof and "w" quarters going forward. I have been trying to keep up with proof halves, quarters and tenths, plus "w" halves and quarters. I am going to have to figure out what to stay with and what to let go of. Thats about 4 grand a year!
I have got to get back to less than $2000 per year.
CCAC will review the proposed 2009 Platinum Eagle Proof and Uncirculated designs on August 1st during American Numismatic Association’s World’s Fair of Money in Baltimore. CoinLink.com has a good read on it:
Also, for those with Internet subscriptions to CW, there's an article on it this week. There are a few designs that look great; although, I personally don't like the CFA selection...
CoinNews.net also has an article on it. The public is invited to share their views on the designs:
I have the 2008 $50 plat proof. I returned to 1/10 for an exchange but the mint gave me a refund instead of sending me a new coin. If they come back I will just buy the 1/10 ozer. Seems like they may price them with the old price considering plat is way down from when they pulled them.
I have the 2008 $50 plat proof. I returned to 1/10 for an exchange but the mint gave me a refund instead of sending me a new coin. If they come back I will just buy the 1/10 ozer. Seems like they may price them with the old price considering plat is way down from when they pulled them.
If they were to re-price down (which I doubt - but I have been wrong before), they'll probably make the UNCs unavailable for re-pricing and then put the Proofs back up...
<< <i>CCAC will review the proposed 2009 Platinum Eagle Proof and Uncirculated designs on August 1st during American Numismatic Association’s World’s Fair of Money in Baltimore. CoinLink.com has a good read on it:
Neo, thanks for posting these links! Sounds like the plat series will continue after all. I think the potential for great designs based on the preamble is tremendous.
On the other hand, while I love the plats, I was secretly hoping that they would end the series and give my wallet a break (I was planning to start with the w-unc buffalo 1/4s). I thought buying one 1/2oz proof was expensive at $700 a year, now I'm up to $2300 for the proof and w-unc each year.
EAC member since 2011, one third of the way through my 1793 large cent type set
the proofs need to be priced higher than the uncs; otherwise the pricing isn't logical. Also, based upon the life of the dies and last year's sales, I would guess there are likely less than 2,000 sets created. With all the US Mint products being sold and the high price of these items, I wouldn't expect them to mint anymore.
In conclusion, when the US Mint re-introduces the platinum proofs, this may be the last time to buy them and likely the mintages will be less than the 2004 proofs. I plan to buy some coins when they are re-introduced so that i can continue my collection, even though they will be greatly priced over the bullion prices.
ebiz, there does seem to be some conflicting information about the Mint's intentions, although the Mint hasn't yet deigned to offer any insights. Usually, the proofs are made available into the following calendar year if they have not sold out - at least, that is the precedent. And if they've already sold out, then it's been a very small issue indeed.
It's the "W" Burnished Uncs that are "minted to demand" and have the possibility of being discontinued after a short offering time period. 2006 was a sleeper year for these, because demand didn't really develop until the 1/4 oz. and 1/2 oz. coins unexpectedly went dark that October, which resulted in the creation of instant demand for the 1/10 oz. and 1 oz. coins that were still available into December.
Now, if they've stopped making dies and if they have run out of blanks with the intention of not ordering more - then we have ourselves a "situation".
On the other hand, if they plan on producing Plats for another 6 years and if the plan to introduce another variety with "privy marks", then who knows how they plan to manage their sales program for the rest of the year? They aren't really talking.
Q: Are You Printing Money? Bernanke: Not Literally
I was told by a dealer that the Plat proofs are minted to demand also. Is that true? It's an important point. If not, one would assume that there were quite a few of them in stock when they went dark and that it would only make sense to sell them off at some point. If minted to demand, given plat prices as of late and the Mint's inability to lower prices, they may well be done. Of course we, the customers are in the dark. The Mint treats its customers so poorly, yet we come back. Go figure.
The privy marks are not a form of product differentiation its just a way of getting rid of the eagle on the reverse so the mint is free to use any design they want as the main device.
<< <i>It doesn't matter what material a coin is minted from. The real question is, mintage, mintage, mintage. >>
Hm...not sure I agree with this. I'd be happy if they continued the series in palladium, because then I could drop it. Palladium will just never have the cachet of platinum--nor the beauty.
<< <i>It doesn't matter what material a coin is minted from. The real question is, mintage, mintage, mintage. >>
Hm...not sure I agree with this. I'd be happy if they continued the series in palladium, because then I could drop it. Palladium will just never have the cachet of platinum--nor the beauty. >>
If this was true Gritsman, how do you explain the price of coins minted from pewter?
Uhhh, may I step in - GAT, honestly I do not see a rebounded interest in pewter coins. Can you cite examples? I agree with Gritsman that platinum certainly has MUCH more cache than does palladium and certainly more than pewter.
Love that Milled British (1830-1960) Well, just Love coins, period.
I've already have all mine I collect so I could care less if they reduce the price. It just means not many will be purchasing anymore from the mint and a much lower mintage.
Get ready for a flood of 2008 Proof Platinums returns................
I got mine in early July and have til early Aug. to return. I don't like to take advantage of a liberal return policy but hey..........now it is real money. Platinum is down $350/oz since July 1st.
<< <i>Get ready for a flood of 2008 Proof Platinums returns................
I got mine in early July and have til early Aug. to return. I don't like to take advantage of a liberal return policy but hey..........now it is real money. Platinum is down $350/oz since July 1st.
Anyone else returning because of price drop?? >>
Nope in fact they may be a great buy if the mintage stay low and they don't come back. They would be a key coin just like the 04's.
So Platinum is down the last few weeks, so what. What are you going to do when it bounces back at breaks it's all time high? They may seem like a real deal as 2009 approaches. I buy these to collect but if your just a flipper or an investor that panics everytime PM's go one way or another I wouldn't be buying any of these PM mint coins. These spikes will only get worse as the price rises.
<< <i>It doesn't matter what material a coin is minted from. The real question is, mintage, mintage, mintage. >>
Hm...not sure I agree with this. I'd be happy if they continued the series in palladium, because then I could drop it. Palladium will just never have the cachet of platinum--nor the beauty. >>
If this was true Gritsman, how do you explain the price of coins minted from pewter? >>
Recent coins? Can't say I'm an expert on pewter coins or palladium coins, but I'm guessing that while such new issue coins may attract interest as curios or from speculators, not many of us who collect platinum or gold will really wave the banners for a duller coin. But, it looks like we won't have to speculate, will we? If the Mint proceeds with plans for the St. Gaudens palladium (thanks to Montana's own U.S. Senators), we'll see for ourselves...
I expect that the more common platinums will continue to track bullion price.
Will the rarer coins, like the 2006 w uncirculateds, maintain the price levels they've established over the last couple of months?
Or will they trend to spot?
The 2006 w coins all had a premium to melt before platinum spiked to $2000/oz.
As platinum rose to the $1900+ level, numismatic premiums deteriorated, to the point where the 1oz coin, despite the low mintage, was basically trading at melt the same as more common 1 oz platinums.
As the waters recede, will these continue to track melt, or will we see a return of the numismatic premium?
We might see a smaller supply on the secondary market, as collectors pull their bigger, lower mintage coins off the market until that question is answered.
I think we all thought they might come back with lower pricing but not so.
Are these the returns they have been getting? Coins rejected for quality issues? Or are they returns motivated by the drop in Platinum price??
Either way it begs the questions........will posted price decline if Platinum continues decline?? What will a flood of returns do to final mintage numbers??
Comments
I've just taken a couple of days off and spent some of it going through my ungraded Plats, taking them from the OGP and putting them into Saflip 2x2's for a more consolidated storage.
I spent as much time on each coin as I needed to write down every flaw and nuance that I saw, and I graded every coin, using a 10x loupe and my grading references in hand.
Ben, it's funny that you should mention getting them out of the slabs, because I am also sorely tempted to crack out every slabbed Plat that I own and continue with my own grading and cataloging process. I'd like to see how my grading compares with the experts.
Besides, handling all of my unslabbed Proof, Burnished and Unc. Plats and grading them was actually kinda fun.
I knew it would happen.
I'm torn. Anyone have any experience trying to remove these kinds of spots? What would you do? Keep or return?
Besides costing me $20 every time I return it, the way the quality has been, I'm not at all sure I'd get something better. Thoughts?
I think you should return the replacement coin and call up Customer Service to have your postage refunded.
This is clearly a case of a problem coin and not your changing your mind.
If you don't return it, you will always see those imperfections.
<< <i>Update: just got my REPLACEMENT $50 Unc-W plat. It has a small, acceptable ding on the crown of Liberty, but there's a very noticeable 1-mm light brown spot on the surface near the rim above the date. Looks to be (to me) a by-product of the rinse process.
I'm torn. Anyone have any experience trying to remove these kinds of spots? What would you do? Keep or return?
Besides costing me $20 every time I return it, the way the quality has been, I'm not at all sure I'd get something better. Thoughts? >>
grits-
I had the exact same problem with an '08 $25 Plat. proof. The spot was a bit larger and on Lady Liberty's neck - very distracting. I returned it and the raplacement was perfect. If you mention to the rep that you are returning it due to a quality issue and that you would like your return postage refunded, they will tell you to call back once they have the coin, let them know your return postage cost and will send you a check. They did this for me with the proof. Hope this helps.
my only other thought is that if you return it and they pull the uncs before you have the replacement, you could miss out. This almost happend to me with the plat proof.
2008 is a very good bad year! With the market being so unstable at present time, we are able to get a real appreciation of what these coins really are:
1. The only Platinum offering from the mint (ever!)
2. A successful 12 year run of Platinum coins. Other countries have tried but have end up with scattered coins over several years span.
3. The ultimate product in US minting history...definitely not for the faint of heart.
4. Probably the first bullion product in modern history to come to a close (at least it looks that way now).
With the price increases we have managed to loose flippers, speculators, and opportunists. If recent mint sales numbers are a reflection of what our true collector base is like then we are a small crowd but a die hard one at that.
Whether the Platinum Eagles come to an end or not, nothing can hurt these series! The true collectors that are here, are here to stay. In the end, that's all that matters. No other modern series is this involving and I can not see any other modern product that could be this exciting!
Well, just Love coins, period.
I second that emotion!
I knew it would happen.
PS: Where's Eric Jordan? He's sure being quite on the 2008 coins.
If this is the last year, perhaps the mint planned on going out with a bang!
Eric
Not a chance, imo.
I knew it would happen.
<< <i>Who thinks that the 2008 W Plat proofs are done for good??
Not a chance, imo.
I agree.
Box of 20
<< <i>Who thinks that the 2008 W Plat proofs are done for good?? >>
Who thinks the 2008 W plat proofs will have a lower mintage that the 2008 W plat uncs?
Ren
<< <i>
<< <i>Who thinks that the 2008 W Plat proofs are done for good?? >>
Who thinks the 2008 W plat proofs will have a lower mintage that the 2008 W plat uncs?
Ren >>
I think that in the end, the Uncs. will be lower.
On another note, gotta love the Microsoft Rebate! I picked up a 2008 W $100 PCGS FS Plat Proof for below orig. issue price using the Mircosoft rebate + the Ebay 10% coupon!!
Still, there are so many factors at play right now, it's impossible to do anything better than make an educated guess. We have wild fluctuations in the bullion market (as I write this, platinum is below $1850/ounce, approximately 15% off its recent highs of almost $2100).
The small and seemingly shrinking pool of platinum collectors is not immune from everything else that's happening in the economy: the uncertainty in the stock market, inflation, weak U.S. dollar, talk of recession, decline in the housing market, etc., etc.
Then, of course, we have the biggest unknown: the U.S. Mint. We have no idea what the Mint is doing now, or will do in the future. One second, platinum proofs are shown as "available". The next, they are "no longer available". Then they disappear from the website. Are they being repriced? If so, higher or lower? Are they gone forever? If they come back, when will the sales window close? Will they be available for purchase through December 31, or will the Mint close things out sooner, or keep them on sale through May of 2009, or keep them on sale until stock runs out (like the 2007 anniversary set)?
The sales figures, which we rely on as a best approximation of mintage figures, are generally inaccurate, and subject to change at the will of the Mint, whenever they feel like doing so. Hard mintage figures might not come until years after sales end. This doesn't give one much comfort in throwing down $4300 on a 4 coin set of platinum coins.
Given the high prices and uncertainty, it stands to reason that 2008 will be a low mintage year, and they stand a good chance of being one of the lowest, if not the lowest, mintage year to date. Even then, if demand doesn't materialize, they might not be a profitable investment. 2009 could have lower mintages still. A decrease in platinum spot might mean that these coins will end up with a secondary market price that is higher than spot (reflecting a numismatic premium) but still be lower than the issue price paid. Look at the 2006 w uncirculated coins-- crazy low mintages, (2,577 to 3,544 total, for each of the 1/10, 1/4, 1/2 and 1 oz). A MS69 or raw 4 coin set has been selling for about $4,300-4,600 on the secondary market, even with spot at $2100. That's a decent return compared to the 2006 issue price, but not much different from the issue price on a 2008 set. 2006 ws might not be a good predictor for 2008 price behavior, but if they are, then we might be in a situation where whatever numismatic upside that might exist is already reflected in the premium paid on issue price over melt.
Is there any reason to believe that a 4 coin set of 2008 coins will be worth substantially more than issue price, or will retain numismatic value above melt to justify buying at these prices? After all, if it's just going to trace melt, you're better off -- from an investment standpoint -- just buying a "common" 4 coin set at melt, say a 1998 4 coin proof set (about $3500 with melt at $1850). At $4300 for a 2008 set with 1.85 ounces of platinum and spot at $1850, we're paying a premium of almost $900 -- the premium alone would buy a nice coin or two. If spot increases to $2325, we'd hit breakeven on issue price -- but spending $4300 on platinum bullion at $1850 spot, would get you 2.25 ounces of platinum, and when spot hit $2325 you'd have $5400 -- an $1100 profit instead of being at breakeven.
The only things we know right now is that the 2008s are expensive, and that the market conditions are in place for them to be low mintage. They could end up commanding a premium over issue price if the mintage figures remain low enough. The way I see it, if you are a collector, like me, you should buy what you need for your collection. The 2008s may go up, they may go down. Buying a set, or a coin or two, isn't going to make you rich, but won't bankrupt you either. They'll probably hold up okay in the long run. I just don't see these as a bet the farm opportunity.
I knew it would happen.
<< <i>The Mint sent my 2008 1/2 oz uncirculated platinum on July 9th and I still haven't received it. This doesn't give me much time to return it by registed mail if I decide I don't want it. >>
Not to worry, you have 30 days from the time of delivery, not time of order. In actuality, they accepted some things I sent back after about 32 or 33 days....
I believe that the US Mint is going to reprice and re-introduce the 2008 platinum proofs.
Being a monopoly, the Mint is the only creator and supplier of these items, except in the aftermarket.
If the US Mint were a private, profit-making company, I would say that this mystery about the coins is a brilliant marketing ploy.
Because they aren't, I would assume they are trying to determine the pricing.
As others have said, the proofs need to be priced higher than the uncs; otherwise the pricing isn't logical.
Also, based upon the life of the dies and last year's sales, I would guess there are likely less than 2,000 sets created.
With all the US Mint products being sold and the high price of these items, I wouldn't expect them to mint anymore.
In conclusion, when the US Mint re-introduces the platinum proofs, this may be the last time to buy them and likely the mintages will be less than the 2004 proofs.
I plan to buy some coins when they are re-introduced so that i can continue my collection, even though they will be greatly priced over the bullion prices.
I have got to get back to less than $2000 per year.
Ericj96
LINKY to Article
Also, for those with Internet subscriptions to CW, there's an article on it this week. There are a few designs that look great; although, I personally don't like the CFA selection...
CoinNews.net also has an article on it. The public is invited to share their views on the designs:
LINKY to CN
Box of 20
If they were to re-price down (which I doubt - but I have been wrong before), they'll probably make the UNCs unavailable for re-pricing and then put the Proofs back up...
<< <i>CCAC will review the proposed 2009 Platinum Eagle Proof and Uncirculated designs on August 1st during American Numismatic Association’s World’s Fair of Money in Baltimore. CoinLink.com has a good read on it:
Neo, thanks for posting these links! Sounds like the plat series will continue after all. I think the potential for great designs based on the preamble is tremendous.
On the other hand, while I love the plats, I was secretly hoping that they would end the series and give my wallet a break (I was planning to start with the w-unc buffalo 1/4s). I thought buying one 1/2oz proof was expensive at $700 a year, now I'm up to $2300 for the proof and w-unc each year.
In conclusion, when the US Mint re-introduces the platinum proofs, this may be the last time to buy them and likely the mintages will be less than the 2004 proofs. I plan to buy some coins when they are re-introduced so that i can continue my collection, even though they will be greatly priced over the bullion prices.
ebiz, there does seem to be some conflicting information about the Mint's intentions, although the Mint hasn't yet deigned to offer any insights. Usually, the proofs are made available into the following calendar year if they have not sold out - at least, that is the precedent. And if they've already sold out, then it's been a very small issue indeed.
It's the "W" Burnished Uncs that are "minted to demand" and have the possibility of being discontinued after a short offering time period. 2006 was a sleeper year for these, because demand didn't really develop until the 1/4 oz. and 1/2 oz. coins unexpectedly went dark that October, which resulted in the creation of instant demand for the 1/10 oz. and 1 oz. coins that were still available into December.
Now, if they've stopped making dies and if they have run out of blanks with the intention of not ordering more - then we have ourselves a "situation".
On the other hand, if they plan on producing Plats for another 6 years and if the plan to introduce another variety with "privy marks", then who knows how they plan to manage their sales program for the rest of the year? They aren't really talking.
I knew it would happen.
a lot of designs get dumped in the graveyard
or they get minted in other metals.....i.e. palladium?
<< <i>just because designs are recommended, doesnt mean the series will actually continue
a lot of designs get dumped in the graveyard
or they get minted in other metals.....i.e. palladium? >>
I HOPE YOU ARE RIGHT!
<< <i>It doesn't matter what material a coin is minted from. The real question is, mintage, mintage, mintage. >>
Hm...not sure I agree with this. I'd be happy if they continued the series in palladium, because then I could drop it. Palladium will just never have the cachet of platinum--nor the beauty.
<< <i>
<< <i>It doesn't matter what material a coin is minted from. The real question is, mintage, mintage, mintage. >>
Hm...not sure I agree with this. I'd be happy if they continued the series in palladium, because then I could drop it. Palladium will just never have the cachet of platinum--nor the beauty. >>
If this was true Gritsman, how do you explain the price of coins minted from pewter?
Order #: 2798xxxxx - 1 Order Date: 2/05/08
Sold To: zzzzzzzzzzz
Ship To: zzzzzzzzzzzzzzz
Date Shipped: 7/23/08
Amount Charged : 324.45
Tracking ID
Items included in this shipment:
1. 2007 ANNUAL UNC DOLLAR SET (XA1) Qty : 10
Well, just Love coins, period.
the current issues will probably not sell well due to high cost and economic conditions
and when the number crunchers go back to thier profit calcs, and determine that they are not a big money maker for the USM, it'll be done.
I got mine in early July and have til early Aug. to return.
I don't like to take advantage of a liberal return policy but hey..........now it is real money.
Platinum is down $350/oz since July 1st.
Anyone else returning because of price drop??
<< <i>Get ready for a flood of 2008 Proof Platinums returns................
I got mine in early July and have til early Aug. to return.
I don't like to take advantage of a liberal return policy but hey..........now it is real money.
Platinum is down $350/oz since July 1st.
Anyone else returning because of price drop?? >>
Nope in fact they may be a great buy if the mintage stay low and they don't come back. They would be a key coin just like the 04's.
So Platinum is down the last few weeks, so what. What are you going to do when it bounces back at breaks it's all time high? They may seem like a real deal as 2009 approaches. I buy these to collect but if your just a flipper or an investor that panics everytime PM's go one way or another I wouldn't be buying any of these PM mint coins. These spikes will only get worse as the price rises.
<< <i>
<< <i>
<< <i>It doesn't matter what material a coin is minted from. The real question is, mintage, mintage, mintage. >>
Hm...not sure I agree with this. I'd be happy if they continued the series in palladium, because then I could drop it. Palladium will just never have the cachet of platinum--nor the beauty. >>
If this was true Gritsman, how do you explain the price of coins minted from pewter? >>
Recent coins? Can't say I'm an expert on pewter coins or palladium coins, but I'm guessing that while such new issue coins may attract interest as curios or from speculators, not many of us who collect platinum or gold will really wave the banners for a duller coin. But, it looks like we won't have to speculate, will we? If the Mint proceeds with plans for the St. Gaudens palladium (thanks to Montana's own U.S. Senators), we'll see for ourselves...
This should be a good test of where things stand.
I expect that the more common platinums will continue to track bullion price.
Will the rarer coins, like the 2006 w uncirculateds, maintain the price levels they've established over the last couple of months?
Or will they trend to spot?
The 2006 w coins all had a premium to melt before platinum spiked to $2000/oz.
As platinum rose to the $1900+ level, numismatic premiums deteriorated, to the point where the 1oz coin, despite the low mintage, was basically trading at melt the same as more common 1 oz platinums.
As the waters recede, will these continue to track melt, or will we see a return of the numismatic premium?
We might see a smaller supply on the secondary market, as collectors pull their bigger, lower mintage coins off the market until that question is answered.
2008 American Eagle Platinum Proof One Ounce Coin (8T1)
Price: $2,509.95
2008 American Eagle Platinum Proof One-Half Ounce Coin (8T2)
Price: $1,279.95
2008 American Eagle Platinum Proof One-Quarter Ounce Coin (8T3)
Price: $664.95
2008 American Eagle Platinum Proof One-Tenth Ounce Coin (8T4)
Price: $279.95
2008 American Eagle Platinum Proof Four-Coin Set (8T5)
Price: $4,589.95
I think we all thought they might come back with lower pricing but not so.
Are these the returns they have been getting?
Coins rejected for quality issues?
Or are they returns motivated by the drop in Platinum price??
Either way it begs the questions........will posted price decline if Platinum continues decline??
What will a flood of returns do to final mintage numbers??