How low does Platinum have to go before the Mint reprices the 2008 W's?

renman95

Or will they just go dark?

Platinum has dropped nearly a grand.

I wanted to send my quarter ounce unc W back for a refund but I got lazy, sidetracked, dunno. Now I'm thinking maybe it's good to hold on to what I have.

These plats may be done for the year with ultra-ultra low mintages for both proof and unc. The 2008 W may trump the 2006 W.

Ren

Kablemodem

My guess is they will have a meeting to set the prices and use the market price of the day of the meeting to set a price point. When they announce the new prices several weeks later they will seem totally out of whack from the market prices of the day of the announcement.

coasterfan

The Mint's actions don't make any sense to me. When they priced the Jackson Liberty gold, it did not reflect that gold spot had dropped considerably. Instead, they priced it the same as the earlier 2008 gold offerings, which were priced when spot was high. And yet the plats were yanked, presumably to be repriced because spot had dropped.

jmski52

I do believe that we are getting an object lesson in "what happens when Central Planning sets prices in a free market".

Didn't the same thing happen when Nixon tried "wage & price controls"?

The market realities made governmental decrees meaningless and not very useful in the real world.

Sure enough, as soon as the Mint establishes a lower price for Plats, the spot market will jump $200 in one day, and I will back up the truck (along with everyone else) before the Mint can react by removing them again for "re-pricing".

JohnMaben

<< <i>The Mint's actions don't make any sense to me. When they priced the Jackson Liberty gold, it did not reflect that gold spot had dropped considerably. Instead, they priced it the same as the earlier 2008 gold offerings, which were priced when spot was high. And yet the plats were yanked, presumably to be repriced because spot had dropped. >>



Don't expect to see the old days of pricing fairly close to bullion at usmint.gov

They have figured out they will still sell a lot of coins even if the margins are higher, and don't care if the number of units shipped drops.

There website has really become a collector's shop of sorts with items essentially at full retail.

John

jmski52

Platinum has dropped nearly a grand.

Maybe not a whole grand, but the salient question is what the Mint's cost basis is for the platinum that it has in stock.

If the price doesn't recover, they will surely sell their stuff at a loss.

If they don't sell any more Plats by the end of the year, they will still be in the same boat for 2009, unless the price recovers.

What is a greedy Mint to do? Honestly, I can never predict what they will do, or even why they do it. The Mint is a riddle - an enigma wrapped inside a question.

Whoever makes a correct prediction regarding the Mint's next move with Plats should get a prize.

JohnMaben

I'm thinking (just a guess) they will bring them back and at somewhere in the 20-30% over spot range, using whatever spot is at the time they set the price which would probably be a week or two before they actually put them back up as nothing happens quickly where government is concerned.

John

renman95

Maybe us taxpayers can bail out the Mint too and then maybe we can get some of our Plat W's.

Ren

jmski52

How low does Platinum have to go before the Mint reprices the 2008 W's?

It might not be price-related. I mean, how hard can it be?

I could do it in about 5 minutes. Just pick a number.

Thus, they must have a different reason for taking so long. And so it begins - another Platinum pricing conspiracy theory!

renman95

<< <i>Platinum has dropped nearly a grand.

Maybe not a whole grand, but the salient question is what the Mint's cost basis is for the platinum that it has in stock.

If the price doesn't recover, they will surely sell their stuff at a loss.

If they don't sell any more Plats by the end of the year, they will still be in the same boat for 2009, unless the price recovers.

What is a greedy Mint to do? Honestly, I can never predict what they will do, or even why they do it. The Mint is a riddle - an enigma wrapped inside a question.

Whoever makes a correct prediction regarding the Mint's next move with Plats should get a prize. >>



What a difference a couple of days make. High this year was $2252 and a 50% drop would bring it down to $1126! We are almost there. Isn't interesting the Mint waited until after the 30 days were over on the plat unc W's before they poofed it. I like the quarter oz now much more than I did a month ago.

Ren

jmski52

I like the quarter oz now much more than I did a month ago.

Proof, or Burnished? Ren, I'm hoping that in a few more months, you'll like it even more. But, don't count your chickens yet......

morgansforever

I would assume they will have to adjust prices, or maybe their holding out like the rest of us.

Does the Mint purchase PMs from the open market? If so, like many B&Ms here, their prices haven't budged. (1oz. ASEs $18-$21)

I want a 1/4 oz. gold Buff, but not at $1100 an oz.

I want to puke,

Scott

DeepCoin

The market is too volatile to reprice the Mint products right now. For example, platinum has dropped about 10% in the last two days and 50% in the last two months. Silver continues to drop as well. It may be better to wait a couple of weeks for this to all sort out as their repricing path is not a simple one due to all the admin and legal requirements. We may be in for $8 silver, $600 gold and $900 platinum, but that is all conjecture.

BECOKA

This is where the mint really needs to goto an automatic adjustible pricing structure such as a bullion dealer. Just set their proof and ms adders. Of course they would have to set a minimum at their cost for the metal.

MoneyLA

I remember when the Mint sold the American Arts gold medallions in the early 1980s... the pricing was on a daily basis. You would pay according to the closing or PM spot price in NY, rush to the post office, buy a money order for that amount, and get your postmark for the date.

it was a lot of trouble, but it was fair pricing.

I hope they return to it, PROVIDE the premium is reasonable each day. If they have some whacko premiums, then they shouldnt bother with daily pricing.

ttown

<< <i>I remember when the Mint sold the American Arts gold medallions in the early 1980s... the pricing was on a daily basis. You would pay according to the closing or PM spot price in NY, rush to the post office, buy a money order for that amount, and get your postmark for the date.

it was a lot of trouble, but it was fair pricing.

I hope they return to it, PROVIDE the premium is reasonable each day. If they have some whacko premiums, then they shouldnt bother with daily pricing. >>



That would be a good model but I'm sure they'd have to discontinue the 30 day return policy since most would return the product if the price fell. Maybe they give you 7 days instead of 30. As a collector that would be fine with me since I don't return coins that aren't damaged or if I think they'll only make a 69 vs 70.

MoneyLA

back in the days of the American Arts program, with daily pricing, there were NO returns.

Frankly, I dont know why the mint offers returns except if there was a worry about "quality."

they could still offer returns for "quality" but with tight rules.

or they can watch what they ship and skip the return privilege for "quality."

FullStrike

When eBay sell prices hit $8,000.00 THEN the Plat Eagles will come back for another round ...... at the same old prices.


They will be gone in a flash!

MrBear

I have a bunch of the Grant Wood American Arts coins. They're ugly, and I would have dumped them six months ago, except my grandfather gave them to me...so I'm stuck with them!!

ProofCollection

The plats are not coming back or they would already be back.

ttown

Really at this point it doesn't matter since this is the only batch that will be sold this year and I'm sure they don't have that many made. The new coins are coming and the mint has to be working getting that material ready.

renman95

answer - $857

New prices are out and they are low.

Oh, well, so much for a modern ultra rarity.

Ren

renman95

Platinum down $1,400 since going dark.

I ordered a 10th unc...seems very cheap. Plus it'll offset the high price I paid for the quarter oz I bought on the onset.

Ren