The premium might go much higher, because Eskom (South Africa’s electricity supplier) announced last month that load-shedding would most likely be avoided during the ongoing winter months, so the mines are back at full production.
Here's a LINK to the Johnson-Matthey site, where weekly reports can be found.
It's likely that platinum will go back up, if/when mine production is cut back by Eskom's inability to meet SA's power demand, during our winter (their summer).
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If they US Mint doesn't stockpile Platinum and they struck all the 2008 coins with Platinum purchashed north of $1900 would ever bite the bullet and drop prices??
<< <i>If they US Mint doesn't stockpile Platinum and they struck all the 2008 coins with Platinum purchashed north of $1900 would ever bite the bullet and drop prices?? >>
Nope, they are not allowed to sell for less than production costs. They would have to sell out first.
Good news is they probably don't have too much at that price in stock.
Not sure if they can cost average though. Then maybe there is some hope of a price drop.
<< <i>no new cars built platinum will go south to 1500.00 >>
I was thinking the same thing...the catalytic converter demand must be dropping like our latest Miss Universe contestant...wonder if that (coupled with the mine production numbers) are what's affecting the price, or if there are other forces involved? (Man, I sound like the evil Empire is trying to take out Luke Platinum-Walker...)
1/10 oz - 1,560 1/4 oz - 1,091 1/2 oz - 963 1 oz - 1,655
2008 "W" Burnished Uncs (includes sets):
1/10 oz - 849 1/4 oz - 540 1/2 oz - 484 1 oz - 516
At $1,638/oz., the premiums over spot that the Mint is charging are now:
2008 "W" Proofs:
1/10 oz - 70.9% 1/4 oz - 62.4% 1/2 oz - 56.3% 1 oz - 53.3% 4-coin set - 51.5%
2008 "W" Burnished Uncs:
1/10 oz - 58.7% 1/4 oz - 51.4% 1/2 oz - 46.5% 1 oz - 43.5% 4-coin set - 41.5%
You might have to change some of those unc numbers......... I hated to do it but I returned some 2008-W Uncirculated APEs this A.M.
Normally I would have just thrown them to the side as a long term investment but with the plunge in platinums price and a closing window of opportunity for return to the fulfillment center I had to act.
I'm glad I did.......out of 10 coins only 2 were keepers. Several had major rim damage. That was far and away the biggest problem. A couple had some kind of blackish streak on liberty's face.
How many others have returned the APE uncs in last week??
I'd love to reorder but 50% premium over melt or $700 for a 1 oz. coin makes it really tough.
Comments
2008 "W" Proofs (includes sets):
1/10 oz - 1,560
1/4 oz - 1,091
1/2 oz - 963
1 oz - 1,655
2008 "W" Burnished Uncs (includes sets):
1/10 oz - 849
1/4 oz - 540
1/2 oz - 484
1 oz - 516
At $1,638/oz., the premiums over spot that the Mint is charging are now:
2008 "W" Proofs:
1/10 oz - 70.9%
1/4 oz - 62.4%
1/2 oz - 56.3%
1 oz - 53.3%
4-coin set - 51.5%
2008 "W" Burnished Uncs:
1/10 oz - 58.7%
1/4 oz - 51.4%
1/2 oz - 46.5%
1 oz - 43.5%
4-coin set - 41.5%
D'ya think there might be some kind of correlation between the premium vs. the sales data?
This trend/tendency has been going on since about 1997 - higher prices, higher margins, lower sales.
At some point, the trend will have to turn around - but when?
I knew it would happen.
Here's a LINK to the Johnson-Matthey site, where weekly reports can be found.
It's likely that platinum will go back up, if/when mine production is cut back by Eskom's inability to meet SA's power demand, during our winter (their summer).
my early American coins & currency: -- http://yankeedoodlecoins.com/
Probably not, because we don't have ownership interests in Bear Stearns, JP Morgan, Freddie Mac, Fannie Mae, or Indy Mac.
To be continued.....................
I knew it would happen.
<< <i>If they US Mint doesn't stockpile Platinum and they struck all the 2008 coins with Platinum purchashed north of $1900 would ever bite the bullet and drop prices?? >>
Nope, they are not allowed to sell for less than production costs. They would have to sell out first.
Good news is they probably don't have too much at that price in stock.
Not sure if they can cost average though. Then maybe there is some hope of a price drop.
I want to have coins with mintages like that.....
K
<< <i>no new cars built platinum will go south to 1500.00 >>
I was thinking the same thing...the catalytic converter demand must be dropping like our latest Miss Universe contestant...wonder if that (coupled with the mine production numbers) are what's affecting the price, or if there are other forces involved? (Man, I sound like the evil Empire is trying to take out Luke Platinum-Walker...)
Just checking in for the evening and platinum dropped to $1630!
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
<< <i>From NN, Aug. 5th Issue:
2008 "W" Proofs (includes sets):
1/10 oz - 1,560
1/4 oz - 1,091
1/2 oz - 963
1 oz - 1,655
2008 "W" Burnished Uncs (includes sets):
1/10 oz - 849
1/4 oz - 540
1/2 oz - 484
1 oz - 516
At $1,638/oz., the premiums over spot that the Mint is charging are now:
2008 "W" Proofs:
1/10 oz - 70.9%
1/4 oz - 62.4%
1/2 oz - 56.3%
1 oz - 53.3%
4-coin set - 51.5%
2008 "W" Burnished Uncs:
1/10 oz - 58.7%
1/4 oz - 51.4%
1/2 oz - 46.5%
1 oz - 43.5%
4-coin set - 41.5%
You might have to change some of those unc numbers.........
I hated to do it but I returned some 2008-W Uncirculated APEs this A.M.
Normally I would have just thrown them to the side as a long term investment but with the plunge in platinums price and a closing window of opportunity for return to the fulfillment center I had to act.
I'm glad I did.......out of 10 coins only 2 were keepers.
Several had major rim damage.
That was far and away the biggest problem.
A couple had some kind of blackish streak on liberty's face.
How many others have returned the APE uncs in last week??
I'd love to reorder but 50% premium over melt or $700 for a 1 oz. coin makes it really tough.