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Official 2008 Platinum W thread for the new prices

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    OverdateOverdate Posts: 6,963 ✭✭✭✭✭

    Not everyone who buys multiple plats is a flipper. I picked up a few tenths that I plan to sock away for about five years, then sell at hopefully much higher prices.

    My Adolph A. Weinman signature :)

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    TwoSides2aCoinTwoSides2aCoin Posts: 44,020 ✭✭✭✭✭
    I found my cents
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    7Jaguars7Jaguars Posts: 7,313 ✭✭✭✭✭
    PLEASE, let him RIP. I do hope he makes a bit of money on his coins though...
    Love that Milled British (1830-1960)
    Well, just Love coins, period.
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    kiyotekiyote Posts: 5,571 ✭✭✭✭✭
    I got my 1/4 oz UNC W in for my room-mate as part of the rent agreement. It looks nice-- no problems.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
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    HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I saw this and was amazed, it was the old Mint prices for the 1998 proof plat coins when they were available.

    "Prices for the remaining 1998 Proof Platinum American Eagle options are $695 for the one-ounce coin; $395 for the half-ounce coin; $199 for the quarter-ounce coin, and $1,350 for The Four Coin Set."

    It didn't show the price for the 1/10, but it must have been maybe $85 or less.

    image
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    RichRRichR Posts: 3,849 ✭✭✭✭✭

    Good morning all:

    For anyone tracking such things, I placed my platinum eagle order this morning at 2am EST...and here are the results:

    2008 AE PLAT UNC MM 4 COIN 1 $2,219.95 $2,219.95 In stock and reserved
    2008 AE PLAT UNC MM 1/2 OZ 2 $619.95 $1,239.90 In stock and reserved
    2008 AE PLAT UNC MM 1/4 OZ 2 $319.95 $639.90 2 units backordered. Expected to ship on 11/11/2008.
    2008 AE PLAT PRF 1/2 OZ 1 $674.95 $674.95 In stock and reserved
    2008 AE PLAT PRF 1/4 OZ 1 $349.95 $349.95 In stock and reserved

    As you can see, I kinda took a shotgun approach to what I ordered.

    I'm a buy and hold collector for the past 30 years...except for a few silver eagles, I've never sold a coin. But that doesn't mean I wouldn't still like to have a winner in here...not to sell...but for holding and admiring purposes...does that sound too weird?
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    ttownttown Posts: 4,472 ✭✭✭


    << <i>I saw this and was amazed, it was the old Mint prices for the 1998 proof plat coins when they were available.

    "Prices for the remaining 1998 Proof Platinum American Eagle options are $695 for the one-ounce coin; $395 for the half-ounce coin; $199 for the quarter-ounce coin, and $1,350 for The Four Coin Set."

    It didn't show the price for the 1/10, but it must have been maybe $85 or less.

    image >>



    Yes when Platinum was around $400 they were cheap. In 1999 I was buying the 1/10 ounce bullion Plat coins for $42- $44 each. This price of Platinum means something in this series.
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    << <i>Good morning all:

    For anyone tracking such things, I placed my platinum eagle order this morning at 2am EST...and here are the results:

    2008 AE PLAT UNC MM 4 COIN 1 $2,219.95 $2,219.95 In stock and reserved
    2008 AE PLAT UNC MM 1/2 OZ 2 $619.95 $1,239.90 In stock and reserved
    2008 AE PLAT UNC MM 1/4 OZ 2 $319.95 $639.90 2 units backordered. Expected to ship on 11/11/2008.
    2008 AE PLAT PRF 1/2 OZ 1 $674.95 $674.95 In stock and reserved
    2008 AE PLAT PRF 1/4 OZ 1 $349.95 $349.95 In stock and reserved

    As you can see, I kinda took a shotgun approach to what I ordered.

    I'm a buy and hold collector for the past 30 years...except for a few silver eagles, I've never sold a coin. But that doesn't mean I wouldn't still like to have a winner in here...not to sell...but for holding and admiring purposes...does that sound too weird? >>



    It doesn't sound weird to me. Collect and enjoy!
    I'd keep playing. I don't think the heavy stuff will be coming down for quite a while!
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    jmski52jmski52 Posts: 22,530 ✭✭✭✭✭
    I'm a buy and hold collector for the past 30 years...except for a few silver eagles, I've never sold a coin. But that doesn't mean I wouldn't still like to have a winner in here...not to sell...but for holding and admiring purposes...does that sound too weird?

    I guess that I'm weird, too. Not quite as weird, though, because I sell a few coins from time to time.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    7over87over8 Posts: 4,733 ✭✭✭
    RichR

    Glad you got the 4 cn unc set, looks like that's the only place to get the 1/4 and 1/10. The backordered 1/4 has already been beheaded.

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    RichRRichR Posts: 3,849 ✭✭✭✭✭

    <<Glad you got the 4 cn unc set, looks like that's the only place to get the 1/4 and 1/10. The backordered 1/4 has already been beheaded.>>

    7over8...

    Hummm...interesting...I really wanted the 1/4 ounce unc. This makes me wonder...do you think that the 4-coin sets are assembled individually or in advance...or will I lose that set as well becuase the 1/10 and 1/4 are no longer available?

    Also...assuming the 4-coin unc set is still available, do you think it would be worth buying a second 4-coin unc. set...or a couple more of the still available 1/2 ounce unc coins? Any thoughts/opinions would be appreciated.
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    nycounselnycounsel Posts: 1,229 ✭✭
    assuming the 4-coin unc set is still available, do you think it would be worth buying a second 4-coin unc. set...or a couple more of the still available 1/2 ounce unc coins? Any thoughts/opinions would be appreciated.

    If the choice is between getting a set or getting a few 1/2 oz coins, I'd say get the set.

    It already looks like the $10 and $25 will be profitable, easily selling for about $300 and $500 on ebay. Putting a current secondary market value of about $300 on the $10 and $500 on the $25, that's $800 towards the $2200 purchase. The other coins are costing $1400. Platinum is currently under $800 an ounce, so you're still paying a bit over melt. Once mintages are finalized, even if the $100 only holds its value at current issue price -- $1200-- that means you are effectively paying $200 for the 1/2. If the $50 can be resold for only $800 once sales end (presumably you think that it will be at least marginally profitable or you wouldn't be interested in buying), and the $10 and $25 hold their value at $300 and $500, you've effectively purchased the $100 coin for about $600.

    Assuming mintages are as expected, the $50 will be profitable just like the $10 and $25, but the multiples over melt trend lower as you move up from $10 to $25 to $50 to $100.
    Dan
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    None of my four 1/4 ounce UNC APEs show the elbow scar you guys are seeing.

    Three of the UNCs were bought individually, and one is from a set.

    I haven't had a chance to look the rest over closely yet.

    image
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    7over87over8 Posts: 4,733 ✭✭✭
    As far as I am aware, sets are assembled in advance

    anyone who wants that 1/4 or 1/10 oz unc w coin, best to buy the set,

    in individual form, they are done.
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    RichRRichR Posts: 3,849 ✭✭✭✭✭

    7over8 thanks for the input...

    I actually went onto eBay a few minutes ago and picked up a 1/4 W Unc. using Buy It Now, plus a 10% promo coupon, and got the coin for $379, including S&H. I thought that was pretty fair all things considered.
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    7over87over8 Posts: 4,733 ✭✭✭
    thats very fair
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    RichRRichR Posts: 3,849 ✭✭✭✭✭


    <<thats very fair >>

    So now my wife will only beat me...but not kill me...when the credit card statement comes next month!

    image
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    bluelobsterbluelobster Posts: 1,220 ✭✭✭
    Ok, one thing I am beginning to wonder about, is why wouldn't the mint be strongly tempted to make another run of these UNC plats, when they are getting an all time high premium over melt and there is hype and buying going on at what must be a fairly brisk pace? I have a a few of the 08s, so I'm not trying to rain on anyones parade, but the posts indicating flippers may be at least half of the demand, and that the orders seem to be piling up, is making me leery.
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    << <i>Ok, one thing I am beginning to wonder about, is why wouldn't the mint be strongly tempted to make another run of these UNC plats, when they are getting an all time high premium over melt and there is hype and buying going on at what must be a fairly brisk pace? I have a a few of the 08s, so I'm not trying to rain on anyones parade, but the posts indicating flippers may be at least half of the demand, and that the orders seem to be piling up, is making me leery. >>



    Well it could happen but they better not let anyone know for 30 days!
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    drei3reedrei3ree Posts: 3,430 ✭✭✭✭
    When I see:

    "Product will be available for shipping 11/11/2008"

    Does this indicate the Mint is out of APE $25 and is waiting for returns?
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    coolestcoolest Posts: 2,281 ✭✭✭


    << <i>RichR

    Glad you got the 4 cn unc set, looks like that's the only place to get the 1/4 and 1/10. The backordered 1/4 has already been beheaded. >>



    Are you saying that the 1/4 oz coin will not be shipped if ordered now?
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    ttownttown Posts: 4,472 ✭✭✭


    << <i>

    << <i>RichR

    Glad you got the 4 cn unc set, looks like that's the only place to get the 1/4 and 1/10. The backordered 1/4 has already been beheaded. >>



    Are you saying that the 1/4 oz coin will not be shipped if ordered now? >>




    If it's like 2006 once they were on backorder you were put on a list. My 1/2 ounce kept slipping everytime a deadline drew near but in the end I didn't get that coin.
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    RichRRichR Posts: 3,849 ✭✭✭✭✭
    <<When I see: "Product will be available for shipping 11/11/2008">>

    <<Does this indicate the Mint is out of APE $25 and is waiting for returns? >>

    Yes...and I'm in the same boat with my order...so I paid a small premium on eBay this morning to secure one just in case my order doesn't get filled.

    As for the Mint Striking more...it's kinda late in the year to do another run...and platinum and gold blanks seem to be scarce...and I'm thinking that Coin World recently wrote that the Mint would be running down their 2008 precious metals inventories for the remainder of the year...but I could be imagining that last part.

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    RichRRichR Posts: 3,849 ✭✭✭✭✭

    <<Are you saying that the 1/4 oz coin will not be shipped if ordered now? >>

    Unfortunately, that seems to be the general consensus.

    So unless the Mint received a FLOOD or orders in the past week or so...at a significant amount above melt...which for coins of this price isn't small change...I'm still of the mind that these coins, especially the UNCs will ultimately have quite a small mintage...I'll bet in the range of 1,500-2,000 coins per denomination, including the 4-coin sets.

    Thoughts?
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    renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>RichR

    Glad you got the 4 cn unc set, looks like that's the only place to get the 1/4 and 1/10. The backordered 1/4 has already been beheaded. >>



    Are you saying that the 1/4 oz coin will not be shipped if ordered now? >>




    If it's like 2006 once they were on backorder you were put on a list. My 1/2 ounce kept slipping everytime a deadline drew near but in the end I didn't get that coin. >>



    Exactly, I remember being strung out for what seemed like months. I never got that half.

    R
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    nycounselnycounsel Posts: 1,229 ✭✭
    why wouldn't the mint be strongly tempted to make another run of these UNC plats, when they are getting an all time high premium over melt and there is hype and buying going on at what must be a fairly brisk pace?

    the only reason- the Mint isn't a normal business.
    Dan
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    HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    it looks like the mint couldn't make anymore 1/10 ounce UNC because that one is the only one to have gone dark. Since the 4 coin set has a 1/10 in it that should mean they can't make anymore 4 coin sets, at least that is my guess.

    The other larger coins I can't say, the 1/4 are still available to backorder although the expected ship date has moved back over the weekend to 11/11. if the mint could buy platinum at todays spot price and run off more coins they could make a lot of money though, that is why I don't believe it is over until it is over.
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    drei3reedrei3ree Posts: 3,430 ✭✭✭✭
    Seems that the Mint has signaled their intention to sell out what they have in stock. Otherwise, why would they have discontinued the $10? That said, is there a "drop dead" date for minting more 2008s? Is it 12/31/2008?
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    << <i>it looks like the mint couldn't make anymore 1/10 ounce UNC because that one is the only one to have gone dark. Since the 4 coin set has a 1/10 in it that should mean they can't make anymore 4 coin sets, at least that is my guess.

    The other larger coins I can't say, the 1/4 are still available to backorder although the expected ship date has moved back over the weekend to 11/11. if the mint could buy platinum at todays spot price and run off more coins they could make a lot of money though, that is why I don't believe it is over until it is over. >>



    I agree with you, but I thought that the Mint posted that it was going to concentrate on bullion strikes (mostly gold) to keep up with the demand. West Point is a smaller Mint so they may not have the resources to bother with the small platinum coins or to order more packaging before the end of the year. But this is speculation on my part and may not be accurate. Somone in the know might confirm (or dispute) this so we all know!
    I'd keep playing. I don't think the heavy stuff will be coming down for quite a while!
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    OLCOLC Posts: 394 ✭✭✭
    Interesting, My 1/4 oz platinums I ordered after they went on backorder just changed status to in process. I wouldn't think they would do that if they weren't expected to ship til the 11th. The returns came back in pretty fast.
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    7over87over8 Posts: 4,733 ✭✭✭
    as posted earlier

    " the USM stated they will re-price the Platinum Unc coins to sell the REMAINING stock"

    it doesnt say

    "they will mint more to demand"

    it does say

    "sell REMAINING stock"
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    GoldbullyGoldbully Posts: 16,962 ✭✭✭✭✭


    << <i>Interesting, My 1/4 oz platinums I ordered after they went on backorder just changed status to in process. I wouldn't think they would do that if they weren't expected to ship til the 11th. The returns came back in pretty fast. >>




    Hope you don't get these returns from me. Should be back at the Mint in a day or so for a refund. image

    image

    Check out 4 of 4 elbow gouges!!! What are those odds????

    image

    image

    image

    image
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    7over87over8 Posts: 4,733 ✭✭✭
    OLC

    those arent returns.

    If you have a shot at getting your order filled, it may mean that others BEFORE you in line had problems with their credit cards, etc.....

    their bad luck is your gain

    possibly,,,,,
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    7over87over8 Posts: 4,733 ✭✭✭
    I'll throw out my opinion just once more -

    it is very foolish to return a coin that has sold out and is priced at a premium on the secondary market, regardless of what minute bagmarks it may have......

    short of the entire coin being folded in half.

    especially when you have at least 25 days left to go - on the 30 day no questions asked return policy......

    will you be crying if you could have sold that coin in two weeks time on the secondary mkt for $750 if it turns out to be a sub 2000 mintage?
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    CasmanCasman Posts: 3,935 ✭✭
    My orders for more 1/4's placed Wednesday the 22nd, and Saturday the 25th both in process. The order from the 22nd went in process within a day...also, pending on the cc....
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    7over87over8 Posts: 4,733 ✭✭✭
    smart man - Casman

    some credit cards will fail, and they will lose their place in line, your order will step up to the front.........
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    GoldbullyGoldbully Posts: 16,962 ✭✭✭✭✭


    << <i>My orders for more 1/4's placed Wednesday the 22nd, and Saturday the 25th both in process. The order from the 22nd went in process within a day...also, pending on the cc.... >>



    What's not to like about the 1/2 ozers?????

    I'm thinking about buying a couple.

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    OLCOLC Posts: 394 ✭✭✭
    Well then maybe they are my coins I purchased on the 17th. I didn't realize my debit card had a $2500 limit per day. I made a couple of different purchases that day. I received my 1/10th oz last Thursday and called the mint the 24th to make sure everything was OK with my other orders. My heart sank when they told me they were cancelled. The thing that makes me mad is they still were showing up on the system that they were still in stock and reserved. I wonder why they don't update this. I might of figured out sooner there was a problem. They told me I had to re-order. This is the wrong purchase to learn this lesson on. I even had asked the bank about this and they told me I didn't have a limit. I wasn't to happy about their mis-information. Needless to say I have been making as close to $2500 in purchases a day every since trying to catch up.
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    PlacidPlacid Posts: 11,301 ✭✭✭


    << <i>

    << <i>My orders for more 1/4's placed Wednesday the 22nd, and Saturday the 25th both in process. The order from the 22nd went in process within a day...also, pending on the cc.... >>



    What's not to like about the 1/2 ozers?????

    I'm thinking about buying a couple. >>



    Nothing, but myself I would get the 1oz before two 1/2's.
    The middle class is disapearing according to the news image
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    CasmanCasman Posts: 3,935 ✭✭


    << <i>

    << <i>My orders for more 1/4's placed Wednesday the 22nd, and Saturday the 25th both in process. The order from the 22nd went in process within a day...also, pending on the cc.... >>



    What's not to like about the 1/2 ozers?????

    I'm thinking about buying a couple. >>




    Nothing wrong with the 1/2's, I'd expect their mintage to be lower...image
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    << <i>My orders for more 1/4's placed Wednesday the 22nd, and Saturday the 25th both in process. The order from the 22nd went in process within a day...also, pending on the cc.... >>



    All my orders went to "in process" after a day or two.... I don't think it means anything except they have logged in your order and checked your credit card.
    I have 3 orders from friday to sunday all in process and backordered status.... anyone else know how this usually works with the mint???
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    DCWDCW Posts: 7,081 ✭✭✭✭✭
    My order from the 22nd: 4 coin set On hold.
    My order from the 24th: 1/2 ozers IN PROCESS
    What is going on here? I used same credit card?

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

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    << <i>My order from the 22nd: 4 coin set On hold.
    My order from the 24th: 1/2 ozers IN PROCESS
    What is going on here? I used same credit card?[/q

    I would give them a call! image
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    youniqueyounique Posts: 882 ✭✭✭
    My personal experience with the Mint is this:

    There's no transparency there as with the credit default swaps and major banks.
    There's no credibility in processing of orders.

    For instance, I placed an order for dimes & quarters on 10-21, 7:30am. The order is still in process, backordered to 10/11, CANCEL BOX REMAINS.

    I placed subsequent orders for 1/2 ounces on 10/24, showing in process, NO CANCEL BOX. I expect delivery tomorrow.

    Hmmm, it appears that if your cancel box remains on the order, the Mint may cancel at their discretion.

    As in '06, many orders with the "in process" status were cancelled. If we were more aware at the time we may have noticed the cancel box, or lack thereof, was an indication of whether or not the order would ship.

    Just an observation.





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    HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    The mint has moved the shipping date for the 1/4 UNC back a day to 11/12 so they could be in wait mode it seems until they get the last of the returns. I doubt anyone shipped back a 1/10 ounce that is why they went kaput so fast. image
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    When do the fresh weekly NN numbers come out?
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    RichRRichR Posts: 3,849 ✭✭✭✭✭
    After sending through a $5,000+ platinum slug on my cc late Sunday night, I called Visa and warned them that it was a legitimate charge and not to hold it up!

    So they made a note of it and said it was good that I called in advance...so as not to trigger their security protocols for unusually large charges...just a thought.
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    DCWDCW Posts: 7,081 ✭✭✭✭✭
    So what's the latest rumor on the uncs?

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

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    youniqueyounique Posts: 882 ✭✭✭
    Sales figures creeping up on the '06 w uncs. Time to return.
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    jmski52jmski52 Posts: 22,530 ✭✭✭✭✭
    400 - Whoa! I've never been able to do "the post count thing" before!

    Sales figures creeping up on the '06 w uncs. Time to return.

    You might want to check Eric's thread. Big changes in the mintages.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.

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