Platinum Coins

TwoSides2aCoin

Do you believe these will gravitate to astronomical prices in years to come , or will these be dead weight as collectibles go ?

It's a niche market that caters to platinum coin collectors, and there really are not that many collectors of them. I think these are a tremendous "gamble" as that goes..., even as these coins are masterfully designed and artistically pleasing. But this is just me thinking out loud. What about you folks ?

Should there be a slot in the Dansco 7070 for a U.S. Platinum coin ?
Should there be a "fractional" page ? Is cardboard sturdy enough to hold platinum coins in the long term ?
This is a U.S. Type coin, isn't it ?

Does anyone have one they use as a pocket piece ?


Thanks for sharing

rgCoinGuy

It is required as a type coin on the PCGS registry. I just got my first quarter ounce one yesterday, and I like it. I may try to build a run of the 1/4 ouncers. Just my two cents.

fishcooker

People tend to follow the herd. Will the herd chase Plats 10 years from now? Magic 8 Ball says.... Not likely.

nycounsel

People tend to follow the herd. Will the herd chase Plats 10 years from now? Magic 8 Ball says.... Not likely.

Funny, mine said "Ask again later."

Magic 8 Balls are notoriously unreliable predictors of numismatic trends.

fcloud

It is hard to say, but I think cost has a lot to do with it. They are so costly due to material the seem to be not-so-popular. In turn this could equate to the 1995-W silver eagle. Couldn't afford the set then, but now look at the price of just the silver eagle. To start a hoard or not start a hoard that is the question...

gecko109

Since you did not specify what type of platinum coins, here are a few of my favorites. Note the prices on some of the 1/20th oz sizes. The 1993, 1994, 1995, and 1997 are all well over $300, and may even fetch up to $900!!!

jmski52

Platinum coins will always have that extra appeal of being made of precious metal. As such, it will always present an alternative type of hedge against monetary foolishness, similar to but not identical to silver. The scarcity of platinum and the difficulties of extracting it from the ground will always weigh heavily in its favor as a scarce commodity.

Now that the Mint has stopped the treadmill that was killing the ability of collectors to even keep up, I think that you will see a surge of interest over the next few years. The past designs will draw more attention, and a likely rise in the price of bullion will again draw more onlookers.

The series isn't dead now, but it is much more manageable without the "W" Uncs and the fractional Proofs. There are enough extant variations in finishes and denominations to offer a collector many ways to gain satisfaction in the completion of a set, and there are still several types of the open-ended series that will allow investor-collectors to continue building a portfolio with annual purchases.

I am, quite frankly more bullish on the Plats now than I've been for about 5 years.

TwoSides2aCoin

Phil, it's hard to resist a cuddly bear who will share.
All are welcome in my book. Participation and camaraderie makes the world go 'round , eh ?
I like how you said that I didn't specify. I didn't need to. However, I did think about posting this in the Precious Metals forum

Overdate

Do you believe these will gravitate to astronomical prices in years to come , or will these be dead weight as collectibles go ?

My guess is somewhere in between those two extremes. I do think they will become more popular overall as more collectors become aware of the attractive designs and the low mintages of the keys. Adding just a few thousand new platinum collectors could have a dramatic impact on the prices of the keys.

HalfStrike

I would think the platinum coins will behave like most other coin series, most will not do much except for the proof perhaps, a few will do very well, and one or two W coins will go astronomical per series.

COINB0Y

These 2008 W's just on the metal side, are long term winners..

coolest

To me it is not realistic to consider accumulating an entire set of platinum coins. But as a US Coin collector I am compelled to have a couple

specimens as type pieces. As such, the rarest dates and types have a strong appeal, particullaly the 06 though 08 "commemorative" plats.

Walmann

From a design aspect, these are some more desirable of modern US coinage and from that angle would hopefully give them a bright future.
Combine this with the PM aspect I would think they are long term winners.
Regarding reaching astronomical prices that could happen just due to the price of the metal sometime in the future absent the collectible aspect.
Depending on the price paid, almost any coin can be a gamble. The current mint prices on the 08's are such that I think the risk is somewhat reduced and that at the very least break even status is highly likely even in the short term.

notwilight

One of my platinum customers confided in me yesterday that last year he felt foolish putting so much money into platinum coins. He is a younger collector and a set of PR70 DCAMS $100s is a big investment for him. He liquidated a lot of stocks and moved money into the platinum set. This year his friends and family have all seen their 401Ks and stock portfolios hit hard and they (including his dad) are now all coming to him for metals investment advice. He's wisely blaming it on dumb luck and not telling them how to invest. But you make your luck.

Long term I think the future is good. Every year we have more and more interest in the coins. now some sets have come to an end making it a closed set with a known committment--easier for some collectors to go for.

Finally, I would have to say that I've seen a significant increase in Modern Bashing on the forum lately. It was big in 2006 and early 2007 and then my impression was that it calmed a lot in late 2007 and 2008. As a contrarian indicator, I'd say the modern basing revival is bullish for these coins.

--jerry

drei3ree

A U.S. Mint coin with sales numbers in the 2,500 - 8,000 range (which several of the plats are) and made out of nickel, would eventually garner a strong following! Now, if you made it out of a precious metal that is 20-30X rarer than gold... seems like a no-brain-er to me.




1997 Jefferson 5c (nickel) SMS MS69 ~$225. Sales=25,000.

1998-2008 Plats $10 (platinum) PR69DCAM ~$200. Sales 4,911-19,847. Why buy the Jefferson (...and I like the Jefferson)???

Mercury

Coins101

Rubies are rarer than diamonds but the majority of people want diamonds.

I believe gold has a much more appeal to the public than platinum. The platinum coins are in a niche market and may do well due to the low mintages. But to Joe the coin collector, I believe he would rather have gold if he is going to put out the money. When he shows his family and friends his collection and if he has both, I bet they will look at the gold before they even think about looking at those silvery colored coins. In fact, he will have to explain what they are and why they are so valuable. No explanation needed on the gold coins.

rgCoinGuy

<< <i>Rubies are rarer than diamonds but the majority of people want diamonds.

I believe gold has a much more appeal to the public than platinum. The platinum coins are in a niche market and may do well due to the low mintages. But to Joe the coin collector, I believe he would rather have gold if he is going to put out the money. When he shows his family and friends his collection and if he has both, I bet they will look at the gold before they even think about looking at those silvery colored coins. In fact, he will have to explain what they are and why they are so valuable. No explanation needed on the gold coins. >>



I agree with this, but I also think platinum has began to gain a name for itself, in both jewelry, and as a precious metal level. Would you rather have a silver mastercard, a gold mastercard, or a platinum mastercard?

coolest

Most people I speak to about platinum are surprised to learn that the US mint makes platinum coins.

nycounsel

Most people I speak to about platinum are surprised to learn that the US mint makes platinum coins.

Platinum coins suffer because of lack of recognition. They're too expensive and too small a demand for most dealers to want to be involved with, and although there's an occasional article about them, they don't make the advertisements that make up the bulk of a lot of publications, so they just aren't on the radar of most collectors.

Coins101

Gold has always been King of the metals. It's in our history and that is going to tough to overcome. If you have two slugs, one that is an oz of gold and one that is an oz of platinum, and offered it to the 100 poeple on the street, I bet most, if not all, would take the gold. In fact, you could do that with the Eagles and I bet most, if not all would again take the gold.

Now, do this at a coin show and you would no doubt see a different result. Anyone willing to throw in a couple hundred oz of gold and platinum to find out?

oldwestgold

No telling what people will collect in the future, but the biggest boost to the collectiblity of the platinum coins was the fact that the spot price of platinum plummeted, followed next by the mint closing out the fractionals. Another thing that makes these coins interesting is we do not know how many were melted when platinum was high, some of the back dates might very well end up extremely rare in the future.

Walmann

"Just one word, Benjamin, Platinum."

Coins101

Looks to me like he is "going for the gold."

LALASD4

Some of the people call platinum, "White Gold".

Coins101

<< <i>Some of the people call platinum, "White Gold". >>



That could be true but technically, "White gold is an alloy of gold and at least one white metal, usually nickel or palladium."