The non-reverse proof is worth NO MORE than 10% over spot - $1,436 x 1.1 divided by 3 = $790.
That leaves $1,160 on the reverse proof coin (what I was originally speaking about). Spot @ $716 per half oz = MORE THAN A 60% PREMIUM TO SPOT ON THAT REVERSE PROOF COIN.
Wondercoin >>
We heard this same garbage when the Silver set was coming out, look how it turned out!
PEACE! This is the first day of the rest of your life.
Kitco wants $170.27 for a 1/10 oz Platinum bullion eagle
Spot at $1443.00 / oz >>
Do you even realize what a stupid post you just made? Grab yourself a calculator as I really don't want to painstakingly point out what an idiotic post this is when I know you are so far above this. Hey! I’ve been there so I know, too much passion or too much bourbon either way the same result. Just so you know, Kitco <> coins.
No one is going to buy these because the possible mintage of 30k is too high. But since everyone thinks that no one will buy them, everyone will buy one. But since everyone knows that, no one will buy them.
I'm buying.
Bottom line, this issue is a dog now. It will end up at the max mintage because the spirit of '06 is still with us.
Look for HSN to buy out these and then offer them for big bucks. HSN Fans will snatch these up. In a few years they will resell very cheap. At that time I'll be wanting one of those reverse proofs. But only if it's below Kitco's sell price for 1/2 oz Platinum.
No one is going to buy these because the possible mintage of 30k is too high. But since everyone thinks that no one will buy them, everyone will buy one. But since everyone knows that, no one will buy them.
I'm buying.
Bottom line, this issue is a dog now. It will end up at the max mintage because the spirit of '06 is still with us.
Look for HSN to buy out these and then offer them for big bucks. HSN Fans will snatch these up. In a few years they will resell very cheap. At that time I'll be wanting one of those reverse proofs. But only if it's below Kitco's sell price for 1/2 oz Platinum. >>
Interesting prediction but also laughable. I'll be happy to buy [edited from ALL to as many as I can] unopened sets for quite a bit over spot (or in this case Mint price). Please PM me about any sets you would like to flip. Fast money for those that take the effort and many thanks!
A scenario: I think this is brilliant. There will be virtually no takers. Collectors waiting for the aftermarket to get the RP's at 10% over melt. Then the mint stops the presses due to lack of interest sometime around late Jan 2008 after 4,000 sets. Just thinking out loud.
Ren >>
Maybe, or maybe the television coin hawkers will buy the issue out with their network of houshold buyers and it goes nowhere.
Gold and silver are valuable but wisdom is priceless.
<< <i>extend the life of your motor... put them in your catalytic convertor. Seriously... And I'm a modern guy. The money is better spent on CLASSIC coins. >>
These are classic-IF YOU CAN WAIT 100 YEARS- maybe.
Gold and silver are valuable but wisdom is priceless.
These could sell out, but not at 30K. And these can't be compared to the gold or silver when it comes to collector base. If they should sell 30K these will eventually be close to melt, with a little premium for their novelty, as has been stated by others.
The reverse proof gold at 20K mintage was the lowest mintage one oz. proof, or very close, depending on who's figures you use.
The reverse proof plat at 30K mintage will be the second, or third highest mintage of a half oz., again depending on who's figures you use.
As there are MORE gold than platinum bullion eagle collectors, the 10k guide should have been used for the upcoming anniversary plats. That would leave enough for the flippers - 5k or so and another 5k for collectors if the one per household limits are followed.
Love that Milled British (1830-1960) Well, just Love coins, period.
My point as to the advisability of the 10k on the plat set is that there are far fewer plat collectors than gold. I think nearly all posters are in favor of a lower mintage of this set than the stated 30k.
Love that Milled British (1830-1960) Well, just Love coins, period.
<< <i>My point as to the advisability of the 10k on the plat set is that there are far fewer plat collectors than gold. I think nearly all posters are in favor of a lower mintage of this set than the stated 30k. >>
You guys/gals sound like a bunch of old ladies, (sorry to those that actually are old ladies as I am sure this does not apply to you) as the reality is that this set will do great whether it sells out or falls short and is low mintage. You can dig your heads in the sand and hope the world works your way or you can get out there and take a chance. I am planning on buying every single set and that means all 30,000 sets, as long as they fit on my Mastercard, and then I will sell them for
<< <i>You guys/gals sound like a bunch of old ladies, (sorry to those that actually are old ladies as I am sure this does not apply to you) as the reality is that this set will do great whether it sells out or falls short and is low mintage. You can dig your heads in the sand and hope the world works your way or you can get out there and take a chance. I am planning on buying every single set and that means all 30,000 sets, as long as they fit on my Mastercard, and then I will sell them for
1 MILLION DOLLARS
>>
Griv, were you voted most popular in your high school class??
You know what coinbully? General George Smith Patton Junior is one if not the #1 hero in the history of the United States. Chuck Yeagor is a good second with Ronald Reagan, Nimitz and Puller in there as well. I have to ask, where have all the GREAT men gone???
I will get one or more sets {if mint lifts limit}, does anyone know how PCGS will issue First Strike labels to this set?...Maybe just the reverse proof, since the other one is long past deadline.....Or maybe they will have special labels for submitted SEALED sets....Or maybe we can offer up suggests to pass along to them.
in the face of rising Platinum bullion prices, and that they must BUY the Platinum in the open market for the issues they intend on minting and not STOCKPILE Platinum, knowing full well that they only sell on the order of less than 10,000 sets of ANY platinum issue set annually, also knowing that they want to break the back of the secondary market, and limit to ONE per household.....
AND - we know that they cant mint this issue with a 2007 date AFTER Dec 31, 2007.......
LAY OFF purchasing the set for 2-3 weeks..........
I can't see how they've minted in excess of 10,000 sets to start the ball rolling, then use sales as a determinant for further production on a rolling basis....
but by then ITS TOO LATE.......no more 2007 pieces can be MINTED by LAW.
I can't see how they've minted in excess of 10,000 sets to start the ball rolling
Um, don't be too sure. It's not *their* money that they are spending. Have you ever read any news releases of any management ever being demoted or fired from the Mint? It's a putz job, and no one is accountable.
I wouldn't put it past them to have all 30,000 sets on the shelf - ready to sell into next August or so. The Mint is not your friend, and what might seem reasonable to you simply does not apply to the Mint. If you remember that much, you will get along fine with the Canadianized US Mint.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>You guys/gals sound like a bunch of old ladies, (sorry to those that actually are old ladies as I am sure this does not apply to you) as the reality is that this set will do great whether it sells out or falls short and is low mintage. You can dig your heads in the sand and hope the world works your way or you can get out there and take a chance. I am planning on buying every single set and that means all 30,000 sets, as long as they fit on my Mastercard, and then I will sell them for
1 MILLION DOLLARS
>>
go for it,
will you buy my two at 15% markup then? I DARE YOU!
<< <i> I will get one or more sets {if mint lifts limit}, does anyone know how PCGS will issue First Strike labels to this set?...Maybe just the reverse proof, since the other one is long past deadline.....Or maybe they will have special labels for submitted SEALED sets....Or maybe we can offer up suggests to pass along to them. >>
if it's in the mint box (sealed) you'll get a special label for it, it WILL make a 70/70 set nice
Chuck Yeagor is a good second Unh-uh. Andrew Jackson, one of my recent acquisitions. But you're excused because in the U.S. we've had a LOT of really great heroes.
Salute the automobile: The greatest anti-pollution device in human history! (Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
You aren't suggesting that Ol' Hickory is a US hero. I think there would be a lot of native Americans that would disagree. Oops, I forgot, the "Indian Hunter" himself made sure that dead men tell no tales. Hmmm, my bad. He did win the battle of New Orleans! Well after the war was already over but hey, details!
You don't think a lot of Germans wouldn't be upset to learn that Americans consider Patton a U.S. hero?
Salute the automobile: The greatest anti-pollution device in human history! (Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>You don't think a lot of Germans wouldn't be upset to learn that Americans consider Patton a U.S. hero? >>
Are you kidding? Of course they would not. They admire Patton more than most Americans. You don't seem to know very much about US/European history. I hope you don't plan to vote.
in the face of rising Platinum bullion prices, and that they must BUY the Platinum in the open market for the issues they intend on minting and not STOCKPILE Platinum, knowing full well that they only sell on the order of less than 10,000 sets of ANY platinum issue set annually, also knowing that they want to break the back of the secondary market, and limit to ONE per household.....
AND - we know that they cant mint this issue with a 2007 date AFTER Dec 31, 2007.......
LAY OFF purchasing the set for 2-3 weeks..........
I can't see how they've minted in excess of 10,000 sets to start the ball rolling, then use sales as a determinant for further production on a rolling basis....
but by then ITS TOO LATE.......no more 2007 pieces can be MINTED by LAW. >>
If the Mint is not all stupid, they have either contracted for the Platinum or hedged with futures or forward contracts
Be interesting to see the mintage totals on these. They say 30,000. My guess is they will be minted based on demand. 1995 W was to have a mintage of 50,000 but only 30,000 were minted( though a lot less plat collectors than ASE collectors)
<< <i>AND - we know that they cant mint this issue with a 2007 date AFTER Dec 31, 2007.......
Is this a new law or an existing one ? >>
I don't think they can mint any more but they can and have sold previous year stock far into the next year. I think there ought to be a law to prohibit that and all remaining stock is melted even if this loses a little revenue for the Mint. Some customer satisfaction would go a long way. IMO
A previous message advised that the mint cannot by law mint coins from another year (2007) in the next year (2008), is this true and is this true for all issues. Also I assume that they can keep selling the 2007 in 2008 as long as they were minted in 2007. Any comments would be appreciated mahalo gary
Putting the minting next year question aside....any lawyers out there care to speculate if it is legal to raise the limit on the regular 2007 proof halves by 15,000??? Silly silly silly....and I dont care if I sound like an old lady.
<< <i>Putting the minting next year question aside....any lawyers out there care to speculate if it is legal to raise the limit on the regular 2007 proof halves by 15,000??? Silly silly silly....and I dont care if I sound like an old lady. >>
I don't think it takes a lawyer to answer this. Yes, oh yes and they have done so many times in the past. The original reverse set release date changed 2 or 3 times and mintages are subject to the whims of Congress.
I would think that max mintage stated was the whim of Congress when sales began. Any changes after sales begin is fraudulant. I have no idea if the mint has done this before, but if they did its wrong. Its a bait and switch....not appropriate in sales.
<< <i>"mintages are subject to the whims of Congress. "
I would think that max mintage stated was the whim of Congress when sales began. Any changes after sales begin is fraudulant. I have no idea if the mint has done this before, but if they did its wrong. Its a bait and switch....not appropriate in sales. >>
Be real. The congress usually authorizes the mintage but sub-committees approve the changes based on the recommendation from the Director of the Mint. Don't agree with the way they run things? I don't think anyone here would disagree with you but you can bet your last dollar that it is all very legal.
Comments
<< <i><< But wait a few years and you'll be able to pick these up at melt or a little below. >>
>>
Not likely. Show me a 3 year old platinum eagle graded at least 69 going for spot or below. Bull crap I say.
2005 PLATINUM EAGLE 1/10 OZ $10 PCGS MS69 FIRST STRIKE
Winning bid: US $152.55
Ended: Nov-25-07 14:19:43 PST
Kitco wants $170.27 for a 1/10 oz Platinum bullion eagle
Spot at $1443.00 / oz
<< <i>"but, I was still closer"
Not exactly - and here is why...
The non-reverse proof is worth NO MORE than 10% over spot - $1,436 x 1.1 divided by 3 = $790.
That leaves $1,160 on the reverse proof coin (what I was originally speaking about). Spot @ $716 per half oz = MORE THAN A 60% PREMIUM TO SPOT ON THAT REVERSE PROOF COIN.
Wondercoin >>
We heard this same garbage when the Silver set was coming out, look how it turned out!
Fred, Las Vegas, NV
<< <i>
<< <i><< But wait a few years and you'll be able to pick these up at melt or a little below. >>
>>
Not likely. Show me a 3 year old platinum eagle graded at least 69 going for spot or below. Bull crap I say.
2005 PLATINUM EAGLE 1/10 OZ $10 PCGS MS69 FIRST STRIKE
Winning bid: US $152.55
Ended: Nov-25-07 14:19:43 PST
Kitco wants $170.27 for a 1/10 oz Platinum bullion eagle
Spot at $1443.00 / oz >>
Do you even realize what a stupid post you just made? Grab yourself a calculator as I really don't want to painstakingly point out what an idiotic post this is when I know you are so far above this. Hey! I’ve been there so I know, too much passion or too much bourbon either way the same result.
A quote from another thread.
So, let me get this straight...
No one is going to buy these because the possible mintage of 30k is too high. But since everyone thinks that no one will buy them, everyone will buy one. But since everyone knows that, no one will buy them.
I'm buying.
Bottom line, this issue is a dog now. It will end up at the max mintage because the spirit of '06 is still with us.
Look for HSN to buy out these and then offer them for big bucks. HSN Fans will snatch these up. In a few years they will resell very cheap. At that time I'll be wanting one of those reverse proofs. But only if it's below Kitco's sell price for 1/2 oz Platinum.
<< <i>A quote from another thread.
So, let me get this straight...
No one is going to buy these because the possible mintage of 30k is too high. But since everyone thinks that no one will buy them, everyone will buy one. But since everyone knows that, no one will buy them.
I'm buying.
Bottom line, this issue is a dog now. It will end up at the max mintage because the spirit of '06 is still with us.
Look for HSN to buy out these and then offer them for big bucks. HSN Fans will snatch these up. In a few years they will resell very cheap. At that time I'll be wanting one of those reverse proofs. But only if it's below Kitco's sell price for 1/2 oz Platinum.
Interesting prediction but also laughable. I'll be happy to buy [edited from ALL to as many as I can] unopened sets for quite a bit over spot (or in this case Mint price). Please PM me about any sets you would like to flip. Fast money for those that take the effort and many thanks!
Griv
Er, I'm feeling pretty stupid at the moment...how do I PM on this forum?
Makes the 30,000 mintage even tougher to swallow.
I knew it would happen.
<< <i>Ok, I've calmed down.
A scenario: I think this is brilliant. There will be virtually no takers. Collectors waiting for the aftermarket to get the RP's at 10% over melt.
Then the mint stops the presses due to lack of interest sometime around late Jan 2008 after 4,000 sets. Just thinking out loud.
Ren >>
Maybe, or maybe the television coin hawkers will buy the issue out with their network of houshold buyers and it goes nowhere.
<< <i>Gold is falling off a cliff, and dragging the others down with it. I wonder if the Mint will be re-pricing this set? Nah, probably not.
Makes the 30,000 mintage even tougher to swallow.
Just curious-How do you know that gold is draging the others down? Maybe the others are dragging gold down. I sense gold prejudice.
Seriously... And I'm a modern guy. The money is better spent on CLASSIC coins.
``https://ebay.us/m/KxolR5
<< <i>extend the life of your motor... put them in your catalytic convertor.
Seriously... And I'm a modern guy. The money is better spent on CLASSIC coins. >>
These are classic-IF YOU CAN WAIT 100 YEARS- maybe.
Oh, I dunno. I guess that if gold is down 2%, and platinum is down 0.3%, I would take a wild stab at it and say that gold is dragging platinum down.
I own both. What exactly would I be prejudging, anyway?
I knew it would happen.
The reverse proof gold at 20K mintage was the lowest mintage one oz. proof, or very close, depending on who's figures you use.
The reverse proof plat at 30K mintage will be the second, or third highest mintage of a half oz., again depending on who's figures you use.
jmo
mike
W.C. Fields
Reverse Proof Gold was Only 10,000.
mike
W.C. Fields
Well, just Love coins, period.
The 10K limit for gold turned out to be too low for demand and sold out quickly.
Part of the reason for the 30K platinum limit might be to avoid a repeat.
My Adolph A. Weinman signature
Successful forum transactions: jessewvu, nankraut, tootawl, levinll, mistercoinman, metalsman, adamlaneus, chuckc, fivecents, kingplatinum, jdimmick, waterzooey, moderncoinmart, bige, steelielee,
<< <i>Rarity, where do you see how many are being sold during the process? thx >>
The Mint report published weekly in Numismatic News online.
Well, just Love coins, period.
<< <i>My point as to the advisability of the 10k on the plat set is that there are far fewer plat collectors than gold. I think nearly all posters are in favor of a lower mintage of this set than the stated 30k. >>
FLIPPERS!!!!!!!!
1 MILLION DOLLARS
<< <i>You guys/gals sound like a bunch of old ladies, (sorry to those that actually are old ladies as I am sure this does not apply to you) as the reality is that this set will do great whether it sells out or falls short and is low mintage. You can dig your heads in the sand and hope the world works your way or you can get out there and take a chance. I am planning on buying every single set and that means all 30,000 sets, as long as they fit on my Mastercard, and then I will sell them for
1 MILLION DOLLARS
Griv, were you voted most popular in your high school class??
So, the USM says 30,000 Plat Anniv Sets, but
in the face of rising Platinum bullion prices, and that they must BUY the Platinum in the open market for the issues they intend on minting and not STOCKPILE Platinum, knowing full well that they only sell on the order of less than 10,000 sets of ANY platinum issue set annually, also knowing that they want to break the back of the secondary market, and limit to ONE per household.....
AND - we know that they cant mint this issue with a 2007 date AFTER Dec 31, 2007.......
LAY OFF purchasing the set for 2-3 weeks..........
I can't see how they've minted in excess of 10,000 sets to start the ball rolling, then use sales as a determinant for further production on a rolling basis....
but by then ITS TOO LATE.......no more 2007 pieces can be MINTED by LAW.
ouch - off by a zero that's $58,498,500.00
Good luck to anyone that plans to buy em all.
On the other hand I fully expect HSN to grab at least 10,000 sets of the rare and limited coins.
Um, don't be too sure. It's not *their* money that they are spending. Have you ever read any news releases of any management ever being demoted or fired from the Mint? It's a putz job, and no one is accountable.
I wouldn't put it past them to have all 30,000 sets on the shelf - ready to sell into next August or so. The Mint is not your friend, and what might seem reasonable to you simply does not apply to the Mint. If you remember that much, you will get along fine with the Canadianized US Mint.
I knew it would happen.
<< <i>You guys/gals sound like a bunch of old ladies, (sorry to those that actually are old ladies as I am sure this does not apply to you) as the reality is that this set will do great whether it sells out or falls short and is low mintage. You can dig your heads in the sand and hope the world works your way or you can get out there and take a chance. I am planning on buying every single set and that means all 30,000 sets, as long as they fit on my Mastercard, and then I will sell them for
1 MILLION DOLLARS
go for it,
will you buy my two at 15% markup then? I DARE YOU!
<< <i>
if it's in the mint box (sealed) you'll get a special label for it, it WILL make a 70/70 set nice
Unh-uh. Andrew Jackson, one of my recent acquisitions. But you're excused because in the U.S. we've had a LOT of really great heroes.
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>You don't think a lot of Germans wouldn't be upset to learn that Americans consider Patton a U.S. hero? >>
Are you kidding? Of course they would not. They admire Patton more than most Americans. You don't seem to know very much about US/European history. I hope you don't plan to vote.
<< <i>30,000 x 1949.95 = $5,849,850.00
Good luck to anyone that plans to buy em all.
On the other hand I fully expect HSN to grab at least 10,000 sets of the rare and limited coins.
Hey your price is a bargain, uh, wait a minute your off by 52 million...
Is this a new law or an existing one ?
<< <i>Here's an interesting point -
So, the USM says 30,000 Plat Anniv Sets, but
in the face of rising Platinum bullion prices, and that they must BUY the Platinum in the open market for the issues they intend on minting and not STOCKPILE Platinum, knowing full well that they only sell on the order of less than 10,000 sets of ANY platinum issue set annually, also knowing that they want to break the back of the secondary market, and limit to ONE per household.....
AND - we know that they cant mint this issue with a 2007 date AFTER Dec 31, 2007.......
LAY OFF purchasing the set for 2-3 weeks..........
I can't see how they've minted in excess of 10,000 sets to start the ball rolling, then use sales as a determinant for further production on a rolling basis....
but by then ITS TOO LATE.......no more 2007 pieces can be MINTED by LAW. >>
If the Mint is not all stupid, they have either contracted for the Platinum or hedged with futures or forward contracts
Box of 20
<< <i>AND - we know that they cant mint this issue with a 2007 date AFTER Dec 31, 2007.......
Is this a new law or an existing one ? >>
I don't think they can mint any more but they can and have sold previous year stock far into the next year. I think there ought to be a law to prohibit that and all remaining stock is melted even if this loses a little revenue for the Mint. Some customer satisfaction would go a long way. IMO
<< <i>Question is: "Can US Mint secure 15,000 ounces of Platinum to produce 30,000 sets as announced?" >>
I would think they aquired it a while back before they forced the market to go up.
<< <i>Question is: "Can US Mint secure 15,000 ounces of Platinum to produce 30,000 sets as announced?" >>
They would need to secure 30,000 ounces as there's 2 - half ouncers (one ounce) in each set.
mahalo
gary
<< <i>Putting the minting next year question aside....any lawyers out there care to speculate if it is legal to raise the limit on the regular 2007 proof halves by 15,000??? Silly silly silly....and I dont care if I sound like an old lady. >>
I don't think it takes a lawyer to answer this. Yes, oh yes and they have done so many times in the past. The original reverse set release date changed 2 or 3 times and mintages are subject to the whims of Congress.
I would think that max mintage stated was the whim of Congress when sales began. Any changes after sales begin is fraudulant. I have no idea if the mint has done this before, but if they did its wrong. Its a bait and switch....not appropriate in sales.
<< <i>"mintages are subject to the whims of Congress. "
I would think that max mintage stated was the whim of Congress when sales began. Any changes after sales begin is fraudulant. I have no idea if the mint has done this before, but if they did its wrong. Its a bait and switch....not appropriate in sales. >>
Be real. The congress usually authorizes the mintage but sub-committees approve the changes based on the recommendation from the Director of the Mint. Don't agree with the way they run things? I don't think anyone here would disagree with you but you can bet your last dollar that it is all very legal.