If people decide to buy the Uncirculated half to make the set a three coin set (like the anniversary sets last year) there might be a lot of pressure in obtaining a 2007W Uncirculated $50 to complete the sets (provided that the mint doesn't make 30,000 Uncirculated $50s to match). We'll see...I have money on the UNC half like Eric mentioned before...
I guess that explains in part why 2007W $50s have maintained their price months after original release. They were selling for $1,350 to $1,500 in PCGS MS70 when first released and are now selling north of that...
Interesting!
Thank you Eric for always keeping us up to date if not ahead of the power curve!
<< <i>Well the mint confrimed it today! 30,000 10th anniversary sets and one per household. IF there are any plats worth having this year it will be the unc w half because some people will want three coin sets not two and buy the unc-w to go with the 30,000 sets.......
If the flippers are stupid enough to jump all over this 10th ann. set it will be a tribute to the irrationality of the market and they will get what they deserve.
Ericj96 >>
Wait a minute. You are assuming that flippers and the "market" have been rational up to this point? Haven't these made enough "tributes" already?
Gold and silver are valuable but wisdom is priceless.
<< <i>I love it. Now the flipper rabble will be invading the holy ground of Platinum coins. What will the church of pure platinum do? >>
CONVERT A FEW OF THE SMART ONES BASED ON SOLID DATA AND TELL SOME OF THEM TO GO PICK UP FRACTIONAL PLATS WITH MINTAGES UNDER 6000 COINS WHILE THEY ARE STILL "CHEAP"!
<< <i>I love it. Now the flipper rabble will be invading the holy ground of Platinum coins. What will the church of pure platinum do? >>
CONVERT A FEW OF THE SMART ONES BASED ON SOLID DATA AND TELL SOME OF THEM TO GO PICK UP FRACTIONAL PLATS WITH MINTAGES UNDER 6000 COINS WHILE THEY ARE STILL "CHEAP"! >>
Well you might loose some purity with the ugly flippin' going on but there might be a bit of change jingling around in the pockets of church members this year and next.
Gold and silver are valuable but wisdom is priceless.
Thanks for posting the announcement, Neo. My response: unbelievable. 30,000 and at that price? Both exceeded my wildest speculations. Of course I still have to get one, but I'd really be surprised if this is a big hit with the flippers. With only a small collector base and the monster price tag, I'd guess that only the true collectors of the series are going to spring for this. Watch me eat my words! I also agree that it's too bad they're using the 2008 design, both because it's so haphazard and because it totally sinks the regular individual proof issue.
When I say convert I am talking about collecting/holding long term the serious material to give to the kids. Those that can see the obvious understand that the present value of the transfer payments owed to the baby boomers is about 50 trillion dollars and the gov is going to wring money out of everything they can find in the next twenty years. People will figure out at some point seriously low mintage moderns with high material content is a good place to hide at some point.
We (long term collectors) are on the right side of the equation in the out years.
<< <i>When I say convert I am talking about collecting/holding long term the serious material to give to the kids. Those that can see the obvious understand that the present value of the transfer payments owed to the baby boomers is about 50 trillion dollars and the gov is going to wring money out of everything they can find in the next twenty years. People will figure out at some point seriously low mintage moderns with high material content is a good place to hide at some point.
We (long term collectors) are on the right side of the equation in the out years. >>
That's right. I forgot that the church's cardinal rule is that you don't sell like the flipper rabble. I confess my transgression. Do you think $500 over melt is worth the anniversary set? After all, this is really only a bullion coin.
Gold and silver are valuable but wisdom is priceless.
Why do the old farts hate flippers? I love flippers. Sometimes they are the only source for certain modern coins. Sometimes I flip but mostly I sit.
Seems I was $50 off on my prediction for the 10th Anniversary set pricing but $1950 looks better that $2K so I should have figured the marketing aspect.
Why buy these? I say don't buy them. I would prefer that the ones I buy end up being the only ones in existance.
I think the mintage figure is to discourage flipping as has been said, but it may not come to pass unless they KEEP offering this set. Perhaps if they have a realistic cutoff date that would work (a la 1995 W overproduction and melted extras).
It does surprise me in light of the relatively poor sales of the "burnished die" 2006 & 2007 W plats that they would cook such a number.
Love that Milled British (1830-1960) Well, just Love coins, period.
Rule No. 1 - Do not depend on the Mint to do what you think that it ought to do.
Rule No. 2 - Never complain about what the Mint does.
Here are my observations:
On a scale from 1 to 10 (10 being the most unenforceable), the Mint's household limit of 1 set per household is "4".
On a scale from 1 to 10 (10 being the most ridiculous), the Mint's 30,000 set limit is a "9".
Add to those factors a price of $1,949.95, which is "only" a 36% markup over spot, which is about an 8.75 on the 1 to 10 scale (10 being the most unscrupulous).
The combined permutation of these three factors equates to a ludicrousity rating of "9.7" on the sphincter scale - not too far from perfect, when it comes to hosing collectors, alienating investors and driving flippers away in droves.
Which brings me to Rule No. 3 -----
Rule No. 3 - If the Mint does something that you think is the dumbest thing to happen since Michael Jackson dangled his adopted son over a balcony, embrace it heart and soul! The really bone-headed stuff will make you money!
This is the worst combination of mis-treatment that the Mint has conjured up in quite awhile. According to jmski's maxim "the best Mint investment is proportional to the Mint's most thorough mis-treatment of it's own customers," and it is quite possible that we won't see this again for decades!
It's a tough pill to swallow, and it smells really bad. I'm buying. lol
Edited to add: Disregard Rule No. 2. In retrospect, it makes no sense, especially because complaining about the Mint gets you absolutely nowhere.
Q: Are You Printing Money? Bernanke: Not Literally
......30K, 2K price, my first reaction is to...RUN...away from this "offering". Still, we have two weeks to think about this. I am thinking toward buying one set, maybe 50/50 chance. With that last spouse coin, there was no question about it..pass. Given, have waited for this "possible" set, now becoming availible, it is going to be a bit hard to pass on this or on the bright side may pick up on aftermarket,at a discount . But can I wait
My response: unbelievable. 30,000 and at that price? Both exceeded my wildest speculations. Of course I still have to get one, but I'd really be surprised if this is a big hit with the flippers.
There is another thread going on right now where there seems to be some speculation about the 30,000 production limit. I think this is a deliberate attempt to kill off the 2 hour sell-out and the immediate price spike that leads to overnight flipping of these sets.
The mint's web page indicates that the 1/2oz proof plat is limited to 5,000 units and the 4-coin proof set is limited to 10,000 sets. This is a max of 15,000 1/2oz proof plats. Given that the mint has already sold in the ballpark of 5,000 of the 1/2oz coins, that leaves 10,000 anniversary sets to be sold (assuming that they stick with the 15,000 production limit for individual and set-based coins).
This figure of 10,000 corresponds with the information Ericj received last year when he spoke with mint representatives who informed him that production would be "similar" to the 20th anniv gold sets.
Just a theory...
Eric
EAC member since 2011, one third of the way through my 1793 large cent type set
<< <i>There is another thread going on right now where there seems to be some speculation about the 30,000 production limit. I think this is a deliberate attempt to kill off the 2 hour sell-out and the immediate price spike that leads to overnight flipping of these sets.
The mint's web page indicates that the 1/2oz proof plat is limited to 5,000 units and the 4-coin proof set is limited to 10,000 sets. This is a max of 15,000 1/2oz proof plats. Given that the mint has already sold in the ballpark of 5,000 of the 1/2oz coins, that leaves 10,000 anniversary sets to be sold (assuming that they stick with the 15,000 production limit for individual and set-based coins).
This figure of 10,000 corresponds with the information Ericj received last year when he spoke with mint representatives who informed him that production would be "similar" to the 20th anniv gold sets.
Just a theory...
Eric >>
I don't think this will be the case.
The 2006 1 oz Gold proof was limited to 12,000 ==> sold about 11,871 The 2006 Gold Proof set was limited to 27,000 ==> sold over 25,000
Add the 10,000 Anniv. Set and that kills your theory.
The 2006 1 oz Gold proof was limited to 12,000 ==> sold about 11,871 The 2006 Gold Proof set was limited to 27,000 ==> sold over 25,000
Add the 10,000 Anniv. Set and that kills your theory. >>
Thanks, I was looking for the 2006 data for the gold coins and couldn't find it. Guess it does kill my guess, but I'd still be surprised to see 30,000 of these hit the streets...
Eric
EAC member since 2011, one third of the way through my 1793 large cent type set
Did you guys ever read what the US Mint said about Proof Platinum when they began marketing it? I found this interesting (especially the "sales pitch" at the end. Here is what the US mint said about the Proof Platinum COINS when they began offering them in 1997 (in their brochure):
* Highest face value ever featured on a United States coin
*The first coin from the US Mint to feature a dollar sign ($) on its fineness.
*The first numbered American Eagle set with a certificate hand-signed by Mint Director Philip N. Diehl
* Mintages as low as 18,000 per denomination (now about 5,000!)
* History in the making- a coin to be cherished now and to be cherished for centuries.
* No other precious metal as valuable.
* Destined to make numismatic history
* Take your place in History. Years from now, you'll think of this as the day you purchased one of the most important US coins minted in our lifetime. Or, as the day you let history pass you by. Make sure it's a day you'll celebrate, not a day you'll regret. And, make sure your collection is truly complete by owning the coin in all 4 sizes.
***********************
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
I agree with most of you that the likelihood of the mint striking all 30,000 is low. Regardless of the hype, Platinum is too expensive for the average collector. The mint is probably just trying to discourage flipping. I wouldn't expect the mintage of this set to be very low but I don't think is going to be 30,000 either...
Well 30 thounsand plus 1995 W silver eagles were sold and they command a premium, they also were offered in a set only. I would guess that there are many more ASE collectors than Proof Plat collectors however.
If one were to colled only reverse proof coinage this would be #2 or #1 lowest mintage depending on the sales.... out of 3 so far.
Frankly, I'm surprised that they didn't go with a 3-coin set. They surely did some price point studies in the midst of their surveys.
on the bright side may pick up on aftermarket,at a discount . But can I wait
I don't see much opportunity for flippers here, which means that there won't be much of an aftermarket, at least for a few years. The Mint has "gotcha." You can't wait for an aftermarket lowball price if many extra sets aren't bought, for fear of a price runup; and you can't speculate, for fear of 30,000 sets being bought with a huge overhang in the market.
What to do? What to do? Well, it would be a bit too wishful to think that every new Plat is a home run ball.
I guess it's possible to hang your hat on the fact that this will be the highest denomination U.S. coin ever made in Reverse Proof, and this will be the very first of its kind. (At least until the next Anniversary, and until an oz. of platinum sells for $2,000 - which won't be long, I fear.
Q: Are You Printing Money? Bernanke: Not Literally
2007 W UNC PLATINUM EAGLES $100...831...........................3155 $50....859............................3183 $25....833............................3157 $10....3107..........................5431 4 COIN SET 2324
ADD FOR TOTALS
2007 PROOF PLATINUM EAGLES
2681 1103 1202 2148 4003
One thing is for certain the 2006-w is king by a LONG shot. Looks like 04 proof is safe too.
I think the person I talked to may have been wrong about the tenth being dead. Way to many orders are still being taken for it. Well 06 was a great year guys. The only hope for greatness that will be found this year will be condition rarity if any IMHO.
Are these still hand signed today? I always thought the signature was printed? Or was it just for 1997? I am still leaning toward not buying the set. One more week left but I don't think they will sell out the first day so maybe some more time to comtemplate. I have to admit it will be a nice set. Any word on PCGS's stance on these. I guess you have to send them in unopened if you want them both slabbed 10th Anniversary except of course the reverse proof.
Whats the current grade through rate for the 2007-w MS plat half at PCGS. Is it rising or staying stable?
Thanks
Eric
Eric,
These are three checkpoints for 2007-W $50 Platinum Uncirculated grading at PCGS. The percentages listed reflect the amount of coins that received MS70 from PCGS:
As of October 7th - 17.06% (50/293) November 11th - 17.90% (99/553) December 2nd - 18.13% (103/568)
Notice how submissions have slow down in the last month...
In view of the dropping submissions, the increase in the grade through rate wouldn't be statistically significant, would it?
After all this time, I still can't decide whether the best strategy is to sell the 70s in order to buy more 69s, or to just go ahead and splurge on 70s.
Q: Are You Printing Money? Bernanke: Not Literally
I know where most of the submissions have come from over the last few weeks and the coins are all presorted. The dogs went back to the mint by and large so it looks like the quality of the coins coming from the mint is not improving in a significant way.
I went through half a dozen orders over two months period of time for myself and others with a total of about 40 halves screened. Only 6 coins looked like they had a shot to me and were retained.
After sales on the halves close and the anniverary set has come out it will be interesting to see where the 07-w plat 70 halves end up. I guess the way I look at it is if you don't have too much in them the 70 halves should be safe because there don't look like there are going to be any coins making grade even if the mintages are higher than we would like.
Ericj96
Notice too the Unc-w plats are selling better than the proofs.
"I went through half a dozen orders over two months period of time for myself and others with a total of about 40 halves screened. Only 6 coins looked like they had a shot to me and were retained."
Think about the implications of what is done with returned coins.....If they are truely destroyed as I was told (of course she told me no anniversary set also)....The revisions to sales should be staggaring. What you say about 34 of 40 returned is not far off from my smaller number experience. You can bet with the mints return policy as is that overall everyone is doing the same....screening out the dogs (alot of them this year). The cost is too high to settle for anything less than perfect. Eric you were right about the anniversary set....what does the mint do with the returns?
Neo, those numbers are interesting. It looks like 2007 could well turn out to be a very rare issue indeed.
I currently am holding a few of these in PCGS MS-70. When do you think would be the optimal time for me to sell these? Now or perhaps sometime after the New Year?
<< <i>Think about the implications of what is done with returned coins.....If they are truely destroyed as I was told ... >>
I was under the impression that they are distroyed but that is clearly NOT the case. One of my last orders for $50-W Plats had every coin but 2 upside down in the plastic holder and one coin even has a "damage coin" sticker on the bottom. Every coin has some easily seen mark, scratch or pit so it was clear these were picked over and recycled. I started a thread a while back and I we had a lot of other horror stories from the "Mint".
The 2007 W $50 Uncirculated Platinum Eagle would probably get you the best returns in January once the Anniversary sets are out. I believe a lot of collectors are going to want a PCGS MS70 $50 to complete a three coin set with the Proof and the Reverse Proof. With an MS70 ratio of one to four in comparison with the 2006 W $50 MS70, the 2007 W can be an evil coin. The 2007 W $100 also has a ratio of one to four in comparison with 2006. That might be a valuable coin as well.
As far as the 2007 W $10 and $25 goes, I wouldn't know what to say about those. If they don't run out quickly at the mint, we might be looking at a loss of short term value on those (ratios are pretty even for those two denominations)...
I currently am holding a few of these in PCGS MS-70. When do you think would be the optimal time for me to sell these? Now or perhaps sometime after the New Year?
I believe that the optimum time to sell these will be Oct. 1st, 2008.
Q: Are You Printing Money? Bernanke: Not Literally
I agree. There comes a point at which VERY low mintages become thier own defence. How much lower can they go than 2000 coins? Is 1000 coins a rational expectation with so many looking for the next big kill?
2006 W changing reverse Uncirculated plats are a long term king and the 2006-w silver eagle looks good too but its key date status is just not as bullet proof. 2007-W PCGS 70 half plats have a chance. Jackie Robinson class rarity on the 07 Unc-w plat halves is almost certain and they grade poorly overall. In the out years they have a chance.
It will be interesting to see if the 2007-w gold comes back on sale as the mint says that they will. If they do and mintages move from 10,000 to about 13,000+ by April of 08 they will be dogs for a while.
I will post the sales report from the mint today or tomorrow as soon as the numbers are out.
I think that unspotted 2006W Uncirculated Silver Eagles will command a pretty hefty premium in the out years with so many reports of spotting on those coins...
2006W Uncirculated Platinum Eagles should be set and I think is just a matter of time before they proclaim their crown as the rarest modern coins in US history...
<< <i>I think that unspotted 2006W Uncirculated Silver Eagles will command a pretty hefty premium in the out years with so many reports of spotting on those coins...
2006W Uncirculated Platinum Eagles should be set and I think is just a matter of time before they proclaim their crown as the rarest modern coins in US history... >>
As much as this makes sense now, Neo, I am not as sure. If the Mint continues to make platinum, I would not at all be surprised if the coming years see a number of very low mintages--just as, I think, the First Spouse series will come in with some shockingly low mintages. One thing is for sure--it's going to be a lot of fun to see what happens!
Comments
If people decide to buy the Uncirculated half to make the set a three coin set (like the anniversary sets last year) there might be a lot of pressure in obtaining a 2007W Uncirculated $50 to complete the sets (provided that the mint doesn't make 30,000 Uncirculated $50s to match). We'll see...I have money on the UNC half like Eric mentioned before...
I guess that explains in part why 2007W $50s have maintained their price months after original release. They were selling for $1,350 to $1,500 in PCGS MS70 when first released and are now selling north of that...
Interesting!
Thank you Eric for always keeping us up to date if not ahead of the power curve!
<< <i>Well the mint confrimed it today! 30,000 10th anniversary sets and one per household. IF there are any plats worth having this year it will be the unc w half because some people will want three coin sets not two and buy the unc-w to go with the 30,000 sets.......
If the flippers are stupid enough to jump all over this 10th ann. set it will be a tribute to the irrationality of the market and they will get what they deserve.
Ericj96 >>
Wait a minute. You are assuming that flippers and the "market" have been rational up to this point? Haven't these made enough "tributes" already?
<< <i>What I don't understand is why so many! Do they really think there is a market for 30,000 Reverse Proof Plats? >>
I think they are overreacting to the Spouse coin and the Gold anniversary set experience. They must hate 2 hour sellouts.
To steal a line from Cramer.........
THEY KNOW NOTHING!!.............THEY KNOW NOTHING!!
<< <i>I love it. Now the flipper rabble will be invading the holy ground of Platinum coins. What will the church of pure platinum do?
CONVERT A FEW OF THE SMART ONES BASED ON SOLID DATA AND TELL SOME OF THEM TO GO PICK UP FRACTIONAL PLATS WITH MINTAGES UNDER 6000 COINS WHILE THEY ARE STILL "CHEAP"!
<< <i>
<< <i>I love it. Now the flipper rabble will be invading the holy ground of Platinum coins. What will the church of pure platinum do?
CONVERT A FEW OF THE SMART ONES BASED ON SOLID DATA AND TELL SOME OF THEM TO GO PICK UP FRACTIONAL PLATS WITH MINTAGES UNDER 6000 COINS WHILE THEY ARE STILL "CHEAP"! >>
Well you might loose some purity with the ugly flippin' going on but there might be a bit of change jingling around in the pockets of church members this year and next.
My response: unbelievable. 30,000 and at that price? Both exceeded my wildest speculations.
Of course I still have to get one, but I'd really be surprised if this is a big hit with the flippers. With only a small collector base and the monster price tag, I'd guess that only the true collectors of the series are going to spring for this.
Watch me eat my words!
I also agree that it's too bad they're using the 2008 design, both because it's so haphazard and because it totally sinks the regular individual proof issue.
We (long term collectors) are on the right side of the equation in the out years.
<< <i>When I say convert I am talking about collecting/holding long term the serious material to give to the kids. Those that can see the obvious understand that the present value of the transfer payments owed to the baby boomers is about 50 trillion dollars and the gov is going to wring money out of everything they can find in the next twenty years. People will figure out at some point seriously low mintage moderns with high material content is a good place to hide at some point.
We (long term collectors) are on the right side of the equation in the out years. >>
That's right. I forgot that the church's cardinal rule is that you don't sell like the flipper rabble. I confess my transgression. Do you think $500 over melt is worth the anniversary set? After all, this is really only a bullion coin.
Why do the old farts hate flippers? I love flippers. Sometimes they are the only source for certain modern coins. Sometimes I flip but mostly I sit.
Seems I was $50 off on my prediction for the 10th Anniversary set pricing but $1950 looks better that $2K so I should have figured the marketing aspect.
Why buy these? I say don't buy them. I would prefer that the ones I buy end up being the only ones in existance.
It does surprise me in light of the relatively poor sales of the "burnished die" 2006 & 2007 W plats that they would cook such a number.
Well, just Love coins, period.
Rule No. 2 - Never complain about what the Mint does.
Here are my observations:
On a scale from 1 to 10 (10 being the most unenforceable), the Mint's household limit of 1 set per household is "4".
On a scale from 1 to 10 (10 being the most ridiculous), the Mint's 30,000 set limit is a "9".
Add to those factors a price of $1,949.95, which is "only" a 36% markup over spot, which is about an 8.75 on the 1 to 10 scale (10 being the most unscrupulous).
The combined permutation of these three factors equates to a ludicrousity rating of "9.7" on the sphincter scale - not too far from perfect, when it comes to hosing collectors, alienating investors and driving flippers away in droves.
Which brings me to Rule No. 3 -----
Rule No. 3 - If the Mint does something that you think is the dumbest thing to happen since Michael Jackson dangled his adopted son over a balcony, embrace it heart and soul! The really bone-headed stuff will make you money!
This is the worst combination of mis-treatment that the Mint has conjured up in quite awhile. According to jmski's maxim "the best Mint investment is proportional to the Mint's most thorough mis-treatment of it's own customers," and it is quite possible that we won't see this again for decades!
It's a tough pill to swallow, and it smells really bad. I'm buying. lol
Edited to add: Disregard Rule No. 2. In retrospect, it makes no sense, especially because complaining about the Mint gets you absolutely nowhere.
I knew it would happen.
Of course I still have to get one, but I'd really be surprised if this is a big hit with the flippers.
The mint's web page indicates that the 1/2oz proof plat is limited to 5,000 units and the 4-coin proof set is limited to 10,000 sets. This is a max of 15,000 1/2oz proof plats. Given that the mint has already sold in the ballpark of 5,000 of the 1/2oz coins, that leaves 10,000 anniversary sets to be sold (assuming that they stick with the 15,000 production limit for individual and set-based coins).
This figure of 10,000 corresponds with the information Ericj received last year when he spoke with mint representatives who informed him that production would be "similar" to the 20th anniv gold sets.
Just a theory...
Eric
<< <i>There is another thread going on right now where there seems to be some speculation about the 30,000 production limit. I think this is a deliberate attempt to kill off the 2 hour sell-out and the immediate price spike that leads to overnight flipping of these sets.
The mint's web page indicates that the 1/2oz proof plat is limited to 5,000 units and the 4-coin proof set is limited to 10,000 sets. This is a max of 15,000 1/2oz proof plats. Given that the mint has already sold in the ballpark of 5,000 of the 1/2oz coins, that leaves 10,000 anniversary sets to be sold (assuming that they stick with the 15,000 production limit for individual and set-based coins).
This figure of 10,000 corresponds with the information Ericj received last year when he spoke with mint representatives who informed him that production would be "similar" to the 20th anniv gold sets.
Just a theory...
Eric >>
I don't think this will be the case.
The 2006 1 oz Gold proof was limited to 12,000 ==> sold about 11,871
The 2006 Gold Proof set was limited to 27,000 ==> sold over 25,000
Add the 10,000 Anniv. Set and that kills your theory.
<< <i>I don't think this will be the case.
The 2006 1 oz Gold proof was limited to 12,000 ==> sold about 11,871
The 2006 Gold Proof set was limited to 27,000 ==> sold over 25,000
Add the 10,000 Anniv. Set and that kills your theory. >>
Thanks, I was looking for the 2006 data for the gold coins and couldn't find it. Guess it does kill my guess, but I'd still be surprised to see 30,000 of these hit the streets...
Eric
* Highest face value ever featured on a United States coin
*The first coin from the US Mint to feature a dollar sign ($) on its fineness.
*The first numbered American Eagle set with a certificate hand-signed by Mint Director Philip N. Diehl
* Mintages as low as 18,000 per denomination (now about 5,000!)
* History in the making- a coin to be cherished now and to be cherished for centuries.
* No other precious metal as valuable.
* Destined to make numismatic history
* Take your place in History. Years from now, you'll think of this as the day you purchased one of the most important US coins minted in our lifetime. Or, as the day you let history pass you by. Make sure it's a day you'll celebrate, not a day you'll regret. And, make sure your collection is truly complete by owning the coin in all 4 sizes.
***********************
Wondercoin
If one were to colled only reverse proof coinage this would be #2 or #1 lowest mintage depending on the sales.... out of 3 so far.
on the bright side may pick up on aftermarket,at a discount . But can I wait
I don't see much opportunity for flippers here, which means that there won't be much of an aftermarket, at least for a few years. The Mint has "gotcha." You can't wait for an aftermarket lowball price if many extra sets aren't bought, for fear of a price runup; and you can't speculate, for fear of 30,000 sets being bought with a huge overhang in the market.
What to do? What to do? Well, it would be a bit too wishful to think that every new Plat is a home run ball.
I guess it's possible to hang your hat on the fact that this will be the highest denomination U.S. coin ever made in Reverse Proof, and this will be the very first of its kind. (At least until the next Anniversary, and until an oz. of platinum sells for $2,000 - which won't be long, I fear.
I knew it would happen.
2007 W UNC PLATINUM EAGLES
$100...831...........................3155
$50....859............................3183
$25....833............................3157
$10....3107..........................5431
4 COIN SET 2324
ADD FOR TOTALS
2007 PROOF PLATINUM EAGLES
2681
1103
1202
2148
4003
One thing is for certain the 2006-w is king by a LONG shot. Looks like 04 proof is safe too.
I think the person I talked to may have been wrong about the tenth being dead. Way to many orders are still being taken for it. Well 06 was a great year guys. The only hope for greatness that will be found this year will be condition rarity if any IMHO.
Box of 20
Looky looky here!!!
<< <i>Wow! The reverse proof is pretty!!!
Looky looky here!!!
I'm guessing you're right, but I can't tell from any images so far what these are really going to look like. Keepin' my fingers crossed!
2007 proof plats:
$100...6684
$50....5106
$25....5205
$10....6151
2007-w ms plats:
$100...3155
$50....3183
$25....3157
$10....5431
Makes you wonder, who is still buying 2007 $50 Proof Plats?
Whats the current grade through rate for the 2007-w MS plat half at PCGS. Is it rising or staying stable?
Thanks
Eric
Whats the current grade through rate for the 2007-w MS plat half at PCGS. Is it rising or staying stable?
Thanks
Eric
Eric,
These are three checkpoints for 2007-W $50 Platinum Uncirculated grading at PCGS. The percentages listed reflect the amount of coins that received MS70 from PCGS:
As of October 7th - 17.06% (50/293)
November 11th - 17.90% (99/553)
December 2nd - 18.13% (103/568)
Notice how submissions have slow down in the last month...
After all this time, I still can't decide whether the best strategy is to sell the 70s in order to buy more 69s, or to just go ahead and splurge on 70s.
I knew it would happen.
I went through half a dozen orders over two months period of time for myself and others with a total of about 40 halves screened. Only 6 coins looked like they had a shot to me and were retained.
After sales on the halves close and the anniverary set has come out it will be interesting to see where the 07-w plat 70 halves end up. I guess the way I look at it is if you don't have too much in them the 70 halves should be safe because there don't look like there are going to be any coins making grade even if the mintages are higher than we would like.
Ericj96
Notice too the Unc-w plats are selling better than the proofs.
Not too shabby..................
Think about the implications of what is done with returned coins.....If they are truely destroyed as I was told (of course she told me no anniversary set also)....The revisions to sales should be staggaring. What you say about 34 of 40 returned is not far off from my smaller number experience. You can bet with the mints return policy as is that overall everyone is doing the same....screening out the dogs (alot of them this year). The cost is too high to settle for anything less than perfect. Eric you were right about the anniversary set....what does the mint do with the returns?
I currently am holding a few of these in PCGS MS-70. When do you think would be the optimal time for me to sell these? Now or perhaps sometime after the New Year?
<< <i>Think about the implications of what is done with returned coins.....If they are truely destroyed as I was told ... >>
I was under the impression that they are distroyed but that is clearly NOT the case. One of my last orders for $50-W Plats had every coin but 2 upside down in the plastic holder and one coin even has a "damage coin" sticker on the bottom. Every coin has some easily seen mark, scratch or pit so it was clear these were picked over and recycled. I started a thread a while back and I we had a lot of other horror stories from the "Mint".
"Recycling at the Mint"
"Even more"
The 2007 W $50 Uncirculated Platinum Eagle would probably get you the best returns in January once the Anniversary sets are out. I believe a lot of collectors are going to want a PCGS MS70 $50 to complete a three coin set with the Proof and the Reverse Proof. With an MS70 ratio of one to four in comparison with the 2006 W $50 MS70, the 2007 W can be an evil coin. The 2007 W $100 also has a ratio of one to four in comparison with 2006. That might be a valuable coin as well.
As far as the 2007 W $10 and $25 goes, I wouldn't know what to say about those. If they don't run out quickly at the mint, we might be looking at a loss of short term value on those (ratios are pretty even for those two denominations)...
Maybe they get near double the 2006 W Unc Mintage?
Holding ANY 2006 W Unc regardless of grade is almost just as evil.
I believe that the optimum time to sell these will be Oct. 1st, 2008.
I knew it would happen.
2006 W changing reverse Uncirculated plats are a long term king and the 2006-w silver eagle looks good too but its key date status is just not as bullet proof. 2007-W PCGS 70 half plats have a chance. Jackie Robinson class rarity on the 07 Unc-w plat halves is almost certain and they grade poorly overall. In the out years they have a chance.
It will be interesting to see if the 2007-w gold comes back on sale as the mint says that they will. If they do and mintages move from 10,000 to about 13,000+ by April of 08 they will be dogs for a while.
I will post the sales report from the mint today or tomorrow as soon as the numbers are out.
Ericj96
2006W Uncirculated Platinum Eagles should be set and I think is just a matter of time before they proclaim their crown as the rarest modern coins in US history...
<< <i>I think that unspotted 2006W Uncirculated Silver Eagles will command a pretty hefty premium in the out years with so many reports of spotting on those coins...
2006W Uncirculated Platinum Eagles should be set and I think is just a matter of time before they proclaim their crown as the rarest modern coins in US history... >>
As much as this makes sense now, Neo, I am not as sure. If the Mint continues to make platinum, I would not at all be surprised if the coming years see a number of very low mintages--just as, I think, the First Spouse series will come in with some shockingly low mintages. One thing is for sure--it's going to be a lot of fun to see what happens!