<< <i>I think the mint would have no problem with selling these 08 Wplat uncs for a loss, but they really do not have to. Somewhere in their contracts with the plat blank manufacturer there must be a clause about buy backs in the event of unsold or unrelased product. Maybe they will simply return these 08 W plat uncs to the seller for refining back to blanks or exchange for more fresh blanks. >>
Exactly! Unless the US Mint is major-league STUPID (I know, it is a government entity) they not only have the above agreement, but they are also hedging in the futures market. With a 40% markup on smaller denoms, they are more than covered.
I'm willing to bet that when the Mint releases the balance of the '08's there will be no prior notice given. By the time you hear about them being released, tooo late, they'll all be gone.
Ebay will boom and all the sellers will live in the vicinity of the DC area. All GovernMint employees, too
waaah , it's all so unfair to the children who can't get their platinum eagles
I ponder the rediculously high price received in a private auction.......hmmmm
$100 1 oz MS70 FS coins have been closing without bids, the best they did was around $3400-$3500 some time ago BEFORE the platinum price tumbled......after that tumble in spot price......no sales.....think about it, the same SELLERS culd not even fetch the 3400-3500, I suppose these went sub 3000 and the sellers just sat and held.......
$25 and $10 1/4 AND 1/10 os MS70 FS coins have closed MANY auctions at an average of about $1000 for 1/4's and $450 for 1/10's
That, my friends leaves the $50 1/2 OZ to be valued at $10,000+++ at a pcgs pop of 18........
my guess is by mid November the PLATS will re-appear.....
priced substantailly lower.
Whatever stock is available will be sold, no more production......
IMO, I am thinking that the US Mint will institute a different return policy for the Bullion Related Items (American Eagle Silver, Gold, Plat, Buffalo's) where your purchase will be either FINAL or RETURNED within 7 days. Maybe some restocking charge as well.
The buy / inspect / grade / crackout / return game is going to be over very quickly......
Just curious, if all of the '08 plats are done, which will be worth more, the UNCs or the Proofs. The lowest mintage Proofs (i.e., '04) seem to be worth more than the lower mintage '06 UNCs, but in this case the '08 Uncs would have stunningly low mintages. Just curious as to your opinions.
From the shoulda, coulda, woulda dept. when I purchased my NGC MS70 ER '08 plat. unc set for $5K, there was a PCGS MS70 FS set for $6k for sale as well. Wish I would have bought it. Would be selling it now for sure!!
Just my humble opinion, the '08's will be back. And then they will be gone (quickly). And then it will be another 15 months before we know how many were actually sold.
Q: Are You Printing Money? Bernanke: Not Literally
I think the proofs will always be worth more than the Uncs, but that's only if the proofs return and the UNCs don't. The 2007 reverse proofs will always be bullion. P
"I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
The 08-W Uncs and Proofs WILL BE BACK. It is just a question of when. The coins produced already can be sold into 09 and 10 if necessary
Actually they could be sold into 09 but only until the 09 Plats come out. They could change the way they've done things in the past but they always have taken the unsold last years material off the market when the new coins come out, just like the proof and mints sets.
Platinum, Palladium Fall on Concerns Global Economy May Shrink
By Halia Pavliva
Sept. 29 (Bloomberg) -- Platinum and palladium fell in New York, extending four straight losing weeks, on concern that the global economy may contract, curbing demand for the metals used in jewelry and parts for cars and trucks.
Commodities declined on concern that a U.S. plan to spend $700 billion propping up financial companies will fail to unlock credit markets and avert a slowdown in the world's largest economy. U.S. gross domestic product expanded more slowly than estimated in the second quarter. Platinum use by automakers accounts for more than 60 percent of global consumption.
``The economy is obviously going into recession, so who is going to buy a car?'' Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois, said today in an interview.
Platinum futures for January delivery fell $16, or 0.5 percent, to $1,107.10 an ounce at 10:20 a.m. on the New York Mercantile Exchange. The metal fell 25 percent in the past four weeks before today, including a 2.1 percent loss last week, and has declined 51 percent from a record $2,308.80 on March 4.
Palladium futures for December delivery dropped $3.40, or 1.5 percent, to $222.10 an ounce. The price fell 4.8 percent last week and was down 40 percent this year before today.
Platinum will probably trade ``a little bit lower,'' including because ``the dollar is very, very strong,'' Kaplan said. The U.S. Dollar Index, a weighted basket measuring the greenback's value against six major currencies including the euro and yen, jumped as much as 1.4 percent today.
Some investors buy platinum and palladium as a store of value when the dollar declines. The metals are used to make emissions-control components for gasoline and diesel engines.
Dollar Strengthens
The dollar rose as much as 2.2 percent against the euro today, the biggest gain since Aug. 8, and was trading at $1.4446 per euro. The dollar also rose the most in at least 10 years against the U.K. pound after European governments bailed out lenders, weakening investor confidence in the region's financial institutions.
U.S. congressional leaders reached a consensus on a rescue plan proposed by Treasury Secretary Henry Paulson, and lawmakers in the House of Representatives began debating the enabling legislation today. The draft measure was posted on the House Financial Services Committee's Web site yesterday.
President George W. Bush said the ``bold'' plan ``will help keep the crisis in our financial system from spreading throughout our economy,'' and urged lawmakers to pass the measure in a statement from the White House this morning.
The U.S. economy's second-quarter expansion rate of 2.8 percent was less than an initial estimate of 3.3 percent last month, Commerce Department data showed last week.
We're going to have some fortunate brethren if this thing is shelved. >>
599 for the one oz W Unc and 579 for the half oz W Unc.
My money is still on the tenth ozs. >>
Does the Mint publish statistics on numbers of coins returned? Based on comments posted by various board members, it appears that many were returned. >>
I'll confess to having sent back quite a few 2008-W uncirculated singles and sets during 1st week in July. Did keep some of the better examples. Overall quality was a problem.
<< <i>I'll confess to having sent back quite a few 2008-W uncirculated singles and sets during 1st week in July. Did keep some of the better examples. Overall quality was a problem. >>
only a few ...
I sent back 2 plat unc sets and "a few" singles of quarters and halfs. I couldn't stomach dropping $4300 per set after the price in platinum got cut in half. I plan on scooping them back up after the are put on sale though.
I would think there are going to be significant drop in sales numbers once the mint publishes their stats to include returns. I'd guess below 500 for each of the uncs. Would be unbelievable if they didn't put them back on sale.
What happen to Mr. Platinum aka Eric? Would like to know what he thinks of the 2008w platinum crisis.
<< <i> Would be unbelievable if they didn't put them back on sale. >>
Two comments:
1) Is there any precedent for the Mint pulling a silver/gold/plat coin(s) and then putting them back up for sale at a lower price?
2) Having read this thread with great interest, I don't understand what motivation The Mint would have to put the plats. back on sale vs. melting them for use in future issues, thus eliminating p.o.'d customers who paid much higher prices for the coins earlier this year, esp. if there is no precedent for pulling an item and then putting it back up at a lower price.
Clearly, esp. today, people understand that stocks, metals, etc. can go down, but as previoulsy mentioned, these are sold as collector items and not straight bullion, which is available via brokers only.
<< <i>Yes, there is precedent for the mint lowering prices. In June of 2006, the mint stopped selling gold eagles in order to reprice them DOWNWARD. >>
Thanks for the info. That was just before I got into coins and I didn't know that. Guess they will be back!
Guys I have been told that the plats will be put back up for sale. I do plan to pick up a few more 2008 fractional proofs. I already have enough 2008w uncs.
The bottom line is I think the 2008 plats have a very good chance of being a new low for the plats. I don' think they made very many and its not that clear than even what the mint did strike will sell because the nations disposable income is in the toilet. I expect to see the mint come back out with the plats and sell them until the new 2009 coins come out in the spring.
The finest investments over the years that I have made took place when it hurt to lay out the money and I was buying in the midst of general pessimism. There is lots of that to go around right now. If the plats go on for say 5-10 more years its the unc "w" coins that are going to be the strongest more than likely (see the unc vs proof $5 commems for example). If the Series does not run on for many years the proofs have better prospects because they are a large enough set to put pressure on the keys.
Best wishes guys,
Ericj96
PS: Watch out for the little 2008 W fractional Unc gold eagles. They are looking very low and are likely going to see sub 10,000 mintages for the first time.
Eric I cannot argue with you, but I talked to Michael White at the Mint and he said to me that the marketing department has not made that determination yet. How did you get someone to say different?
I can't imagine they would sell them till theh 09's come out, I would think if they come out for sale they would be around till everything minted at this point is gone.....
All the 2008 platinum proof and W unc coins are struck for the year that are going to be struck I would think.....
Collection under construction: VG Barber Quarters & Halves
If the mint still wanted to sell these, they'd be on the market right now. The only chance that I see that they'll return to the market is if platinum prices rebound significantly. I don't see a huge move in platinum coming by the end of the year at least.
I'd guess Eric is on the money with these being sold into 2009--IF they don't sell out first, which is probably what will in fact happen. I don't agree the unc-ws will eventually be the stronger series, even with the lower mintages. They just aren't as attractive as the proofs. If either series catches on, however, they both will. I'm picking up the unc-ws, but wouldn't care at all if the Mint dropped them from the program. I really like the proofs, though, and with some better designs than what they propose, would be happy to keep collecting them. My gut says that the '08s will be back on sale soon...
Eric - Thanks for the heads-up on the 08 platinums. I have been hoping and awaiting their repricing so that I can continue my collection. Did you get any hint of what the new pricing will be? Hopefully, the drop in platinum prices will make this more affordable.
<< <i>I'd guess Eric is on the money with these being sold into 2009--IF they don't sell out first, which is probably what will in fact happen. I don't agree the unc-ws will eventually be the stronger series, even with the lower mintages. They just aren't as attractive as the proofs. If either series catches on, however, they both will. I'm picking up the unc-ws, but wouldn't care at all if the Mint dropped them from the program. I really like the proofs, though, and with some better designs than what they propose, would be happy to keep collecting them. My gut says that the '08s will be back on sale soon... >>
If you think that they'll be back soon, you have to also have a plausible explanation for why they are not back already. IMO, they have been off of the market too long to indicate that they will come back for 2008.
<< <i>I can't imagine they would sell them till theh 09's come out, I would think if they come out for sale they would be around till everything minted at this point is gone.....
All the 2008 platinum proof and W unc coins are struck for the year that are going to be struck I would think..... >>
<< <i>I'd guess Eric is on the money with these being sold into 2009--IF they don't sell out first, which is probably what will in fact happen. I don't agree the unc-ws will eventually be the stronger series, even with the lower mintages. They just aren't as attractive as the proofs. If either series catches on, however, they both will. I'm picking up the unc-ws, but wouldn't care at all if the Mint dropped them from the program. I really like the proofs, though, and with some better designs than what they propose, would be happy to keep collecting them. My gut says that the '08s will be back on sale soon... >>
If you think that they'll be back soon, you have to also have a plausible explanation for why they are not back already. IMO, they have been off of the market too long to indicate that they will come back for 2008. >>
They are probably waiting for the price of platinum to rise to justify the new pricing that they have set.
They are probably waiting for the price of platinum to rise to justify the new pricing that they have set.
The quantity of regular issue Unc 1 oz. Plats has jumped again, to 12,400 for 2008. That's over 10,000 in just the last 2 weeks. The totals for the fractionals have risen, but not nearly as much.
If the Mint is waiting for the price to rise before putting the collectors' versions back on sale, why are they so busy selling the regular issue Plats? The cost of the platinum metal isn't any different for the regular issue coins than for the collector coins.
This is simply inconsistant. It makes no sense at all.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>They are probably waiting for the price of platinum to rise to justify the new pricing that they have set. >>
That doesn't make sense. Since when has the mint been afraid to charge a high premium? Put them out there and if they sell, they sell. >>
I suspect that the price of platinum is about half of what the mint paid for the production of these coins. I don't think they want to take a huge loss. It would not bode well for justifying the future of the program.
Comments
<< <i>I think the mint would have no problem with selling these 08 Wplat uncs for a loss, but they really do not have to. Somewhere in their contracts with the plat blank manufacturer there must be a clause about buy backs in the event of unsold or unrelased product. Maybe they will simply return these 08 W plat uncs to the seller for refining back to blanks or exchange for more fresh blanks. >>
Exactly! Unless the US Mint is major-league STUPID (I know, it is a government entity) they not only have the above agreement, but they are also hedging in the futures market. With a 40% markup on smaller denoms, they are more than covered.
<< <i>Hopefully they come back about the same time I win the lottery.
It is unwise to think that the sub-1000 sales figures of the UNC W PLATS represent the first run and there arent any more,
Be prepared for at least 1000 sets and 500-1000 single coins of the larger denoms (100,50,25) and quite a few more of the smallest denom (10)
which still puts this issue in the sweet spot for resales....that is if there are any buyers in these economic times.....
and Welcome to the boards, from another newbie.
Text
Ebay will boom and all the sellers will live in the vicinity of the DC area. All GovernMint employees, too
$100 1 oz MS70 FS coins have been closing without bids, the best they did was around $3400-$3500 some time ago BEFORE the platinum price tumbled......after that tumble in spot price......no sales.....think about it, the same SELLERS culd not even fetch the 3400-3500, I suppose these went sub 3000 and the sellers just sat and held.......
$25 and $10 1/4 AND 1/10 os MS70 FS coins have closed MANY auctions at an average of about $1000 for 1/4's and $450 for 1/10's
That, my friends leaves the $50 1/2 OZ to be valued at $10,000+++ at a pcgs pop of 18........
TOTALLY REDICULOUS...................
keep your eyes peeled.....
IMO, this issue (2008-w) will be the lowest mintage of the three
but not as low as current sales indicate......
and as a result, FS coins will not bring much of a premium over regular labeled coins, given the ultra low mintage.....
I'm Joe
priced substantailly lower.
Whatever stock is available will be sold, no more production......
IMO, I am thinking that the US Mint will institute a different return policy for the Bullion Related Items (American Eagle Silver, Gold, Plat, Buffalo's) where your purchase will be either FINAL or RETURNED within 7 days. Maybe some restocking charge as well.
The buy / inspect / grade / crackout / return game is going to be over very quickly......
If I were a betting man on ebay outcomes (which I am not), I might give 2 to 1 odds that seller will be seeking a credit from ebay on that "sale".
Wondercoin
I'm with you on your comment......agreed
Huge Premium over ANY AUCTION, even when the sum of the parts are added together (2x)
Something smells............
Wasn't he our 'in side' guy a the Mint ? the info always seemed to be pretty good.
<< <i>What ever happened to Eric ??
Wasn't he our 'in side' guy a the Mint ? the info always seemed to be pretty good. >>
I sure would like to hear from him as well!!
<< <i>Did I read a mintage of 500 ?
We're going to have some fortunate brethren if this thing is shelved. >>
599 for the one oz W Unc and 579 for the half oz W Unc.
My money is still on the tenth ozs.
<< <i>
<< <i>Did I read a mintage of 500 ?
We're going to have some fortunate brethren if this thing is shelved. >>
599 for the one oz W Unc and 579 for the half oz W Unc.
My money is still on the tenth ozs. >>
Does the Mint publish statistics on numbers of coins returned? Based on comments posted by various board members, it appears that many were returned.
From the shoulda, coulda, woulda dept. when I purchased my NGC MS70 ER '08 plat. unc set for $5K, there was a PCGS MS70 FS set for $6k for sale as well. Wish I would have bought it. Would be selling it now for sure!!
Thanks.
Ditto!
More Plat suckers, uh, I mean Plat lovers.
Just my humble opinion, the '08's will be back. And then they will be gone (quickly). And then it will be another 15 months before we know how many were actually sold.
I knew it would happen.
More demand = higher prices.
However, the UNC's have tiny mintages, RARITY is key.
The 08-W Uncs and Proofs WILL BE BACK. It is just a question of when. The coins produced already can be sold into 09 and 10 if necessary.
To lock-in a nice low mintage, let's hope for a return in late December, so there is no more time to produce more before year end.
BTW, the SALES igures are presented in NN, NET OF RETURNS.
They are not MINTAGES, please dont confuse the two.......
Actually they could be sold into 09 but only until the 09 Plats come out. They could change the way they've done things in the past but they always have taken the unsold last years material off the market when the new coins come out, just like the proof and mints sets.
2007-w ANNIVERSARY PLAT SETS were sold alongside 2008-W PRF and UNC PLAT SETS, thats just one example.
There is NOTHING in the marketing plan for those coins not to be sold until all inventory is exhausted.
How about the 2001 Kennedy Roll Sets
How about the 2005 Westward Journey Nickel Sets, etc etc etc
The coins will be sold alongside ANY product until completely disbursed
Which means no more Mint orders with Credit Cards anyway. The "bailout" is hitting hard and it could get tough.....
By Halia Pavliva
Sept. 29 (Bloomberg) -- Platinum and palladium fell in New York, extending four straight losing weeks, on concern that the global economy may contract, curbing demand for the metals used in jewelry and parts for cars and trucks.
Commodities declined on concern that a U.S. plan to spend $700 billion propping up financial companies will fail to unlock credit markets and avert a slowdown in the world's largest economy. U.S. gross domestic product expanded more slowly than estimated in the second quarter. Platinum use by automakers accounts for more than 60 percent of global consumption.
``The economy is obviously going into recession, so who is going to buy a car?'' Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois, said today in an interview.
Platinum futures for January delivery fell $16, or 0.5 percent, to $1,107.10 an ounce at 10:20 a.m. on the New York Mercantile Exchange. The metal fell 25 percent in the past four weeks before today, including a 2.1 percent loss last week, and has declined 51 percent from a record $2,308.80 on March 4.
Palladium futures for December delivery dropped $3.40, or 1.5 percent, to $222.10 an ounce. The price fell 4.8 percent last week and was down 40 percent this year before today.
Platinum will probably trade ``a little bit lower,'' including because ``the dollar is very, very strong,'' Kaplan said. The U.S. Dollar Index, a weighted basket measuring the greenback's value against six major currencies including the euro and yen, jumped as much as 1.4 percent today.
Some investors buy platinum and palladium as a store of value when the dollar declines. The metals are used to make emissions-control components for gasoline and diesel engines.
Dollar Strengthens
The dollar rose as much as 2.2 percent against the euro today, the biggest gain since Aug. 8, and was trading at $1.4446 per euro. The dollar also rose the most in at least 10 years against the U.K. pound after European governments bailed out lenders, weakening investor confidence in the region's financial institutions.
U.S. congressional leaders reached a consensus on a rescue plan proposed by Treasury Secretary Henry Paulson, and lawmakers in the House of Representatives began debating the enabling legislation today. The draft measure was posted on the House Financial Services Committee's Web site yesterday.
President George W. Bush said the ``bold'' plan ``will help keep the crisis in our financial system from spreading throughout our economy,'' and urged lawmakers to pass the measure in a statement from the White House this morning.
The U.S. economy's second-quarter expansion rate of 2.8 percent was less than an initial estimate of 3.3 percent last month, Commerce Department data showed last week.
<< <i>
<< <i>
<< <i>Did I read a mintage of 500 ?
We're going to have some fortunate brethren if this thing is shelved. >>
599 for the one oz W Unc and 579 for the half oz W Unc.
My money is still on the tenth ozs. >>
Does the Mint publish statistics on numbers of coins returned? Based on comments posted by various board members, it appears that many were returned.
I'll confess to having sent back quite a few 2008-W uncirculated singles and sets during 1st week in July.
Did keep some of the better examples.
Overall quality was a problem.
<< <i>I'll confess to having sent back quite a few 2008-W uncirculated singles and sets during 1st week in July.
Did keep some of the better examples.
Overall quality was a problem. >>
only a few ...
I sent back 2 plat unc sets and "a few" singles of quarters and halfs. I couldn't stomach dropping $4300 per set after the price in platinum got cut in half. I plan on scooping them back up after the are put on sale though.
I would think there are going to be significant drop in sales numbers once the mint publishes their stats to include returns. I'd guess below 500 for each of the uncs. Would be unbelievable if they didn't put them back on sale.
What happen to Mr. Platinum aka Eric? Would like to know what he thinks of the 2008w platinum crisis.
<< <i>
<< <i> Would be unbelievable if they didn't put them back on sale. >>
Two comments:
1) Is there any precedent for the Mint pulling a silver/gold/plat coin(s) and then putting them back up for sale at a lower price?
2) Having read this thread with great interest, I don't understand what motivation The Mint would have to put the plats. back on sale vs. melting them for use in future issues, thus eliminating p.o.'d customers who paid much higher prices for the coins earlier this year, esp. if there is no precedent for pulling an item and then putting it back up at a lower price.
Clearly, esp. today, people understand that stocks, metals, etc. can go down, but as previoulsy mentioned, these are sold as collector items and not straight bullion, which is available via brokers only.
<< <i>Yes, there is precedent for the mint lowering prices. In June of 2006, the mint stopped selling gold eagles in order to reprice them DOWNWARD. >>
Thanks for the info. That was just before I got into coins and I didn't know that. Guess they will be back!
And then they quickly sold out.
What happen to Mr. Platinum aka Eric? Would like to know what he thinks of the 2008w platinum crisis.
You heard it here first. The Platinum Crisis of 2008. Hey, it's got a nice ring to it!
I knew it would happen.
2008 W PCGS MS70 $50 Burnished Platinum First Strike View similar active items
Bids 4 $3,061.00
Free Sep-30 12:38
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The bottom line is I think the 2008 plats have a very good chance of being a new low for the plats. I don' think they made very many and its not that clear than even what the mint did strike will sell because the nations disposable income is in the toilet. I expect to see the mint come back out with the plats and sell them until the new 2009 coins come out in the spring.
The finest investments over the years that I have made took place when it hurt to lay out the money and I was buying in the midst of general pessimism. There is lots of that to go around right now. If the plats go on for say 5-10 more years its the unc "w" coins that are going to be the strongest more than likely (see the unc vs proof $5 commems for example). If the Series does not run on for many years the proofs have better prospects because they are a large enough set to put pressure on the keys.
Best wishes guys,
Ericj96
PS: Watch out for the little 2008 W fractional Unc gold eagles. They are looking very low and are likely going to see sub 10,000 mintages for the first time.
All the 2008 platinum proof and W unc coins are struck for the year that are going to be struck I would think.....
<< <i>I'd guess Eric is on the money with these being sold into 2009--IF they don't sell out first, which is probably what will in fact happen. I don't agree the unc-ws will eventually be the stronger series, even with the lower mintages. They just aren't as attractive as the proofs. If either series catches on, however, they both will. I'm picking up the unc-ws, but wouldn't care at all if the Mint dropped them from the program. I really like the proofs, though, and with some better designs than what they propose, would be happy to keep collecting them. My gut says that the '08s will be back on sale soon... >>
If you think that they'll be back soon, you have to also have a plausible explanation for why they are not back already. IMO, they have been off of the market too long to indicate that they will come back for 2008.
<< <i>I can't imagine they would sell them till theh 09's come out, I would think if they come out for sale they would be around till everything minted at this point is gone.....
All the 2008 platinum proof and W unc coins are struck for the year that are going to be struck I would think..... >>
I agree,
Ericj96
<< <i>
<< <i>I'd guess Eric is on the money with these being sold into 2009--IF they don't sell out first, which is probably what will in fact happen. I don't agree the unc-ws will eventually be the stronger series, even with the lower mintages. They just aren't as attractive as the proofs. If either series catches on, however, they both will. I'm picking up the unc-ws, but wouldn't care at all if the Mint dropped them from the program. I really like the proofs, though, and with some better designs than what they propose, would be happy to keep collecting them. My gut says that the '08s will be back on sale soon... >>
If you think that they'll be back soon, you have to also have a plausible explanation for why they are not back already. IMO, they have been off of the market too long to indicate that they will come back for 2008. >>
They are probably waiting for the price of platinum to rise to justify the new pricing that they have set.
The quantity of regular issue Unc 1 oz. Plats has jumped again, to 12,400 for 2008. That's over 10,000 in just the last 2 weeks. The totals for the fractionals have risen, but not nearly as much.
If the Mint is waiting for the price to rise before putting the collectors' versions back on sale, why are they so busy selling the regular issue Plats? The cost of the platinum metal isn't any different for the regular issue coins than for the collector coins.
This is simply inconsistant. It makes no sense at all.
I knew it would happen.
<< <i>They are probably waiting for the price of platinum to rise to justify the new pricing that they have set. >>
That doesn't make sense. Since when has the mint been afraid to charge a high premium? Put them out there and if they sell, they sell.
<< <i>
<< <i>They are probably waiting for the price of platinum to rise to justify the new pricing that they have set. >>
That doesn't make sense. Since when has the mint been afraid to charge a high premium? Put them out there and if they sell, they sell. >>
I suspect that the price of platinum is about half of what the mint paid for the production of these coins. I don't think they want to take a huge loss. It would not bode well for justifying the future of the program.
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Call Michael White at the US Mint and ask him: Unless Eric has an inside informant, I have to go with this guy.