Platinum Eagle Conspiracy Thread...With 12/7 Sales Figures

RichR

Ok...let me just say that I've never seen anything like what happened last night on the Mint site EVER happen before...multiple extremely pricy PM items suddenly being scooped up en masse like that?!? That was probably many millions of dollars in sales in just a few hours!

Now...there can be several explanations...and these are my leading candidates:

1. Somebody, somewhere, within the Mint leaked info regarding 2008 plat eagle mintages...which are going to come in below everyone's expectations (except many naturally suspicious people on this board, of course)...that set off a buying frenzy to scoop up all the remaining coins, regardless of denomination. IMHO: Very likely.

2. One of the big shopping networks has decided to push platinum for the holidays, which is now cheap on a relative basis to gold...and needed to secure major quantities of coins in a hurry. IMHO Moderately likely.

3. The likely govt. bailout of the auto industry is expected to revive demand for platinum, which was now deemed too cheap, and is expected by major metals dealers to go higher in the not too distant future. IMHO Moderately/Less likely.

4. The Treasury itself has decided to suspend PM sales in the U.S. (not yet officially announced) and word leaked out...causing a buying frenzy similar to No. 1 above. IMHO At least possible/plausible.


And finally...is there much (any) chance that LESS Proofs were produced than UNCs in 2008?!? Or, alternately, assuming record low mintages across all Proof and UNC options, might the "New Kings" possibly be split among the various denominations and grades depending on final mintages?!?

Please discuss.

Goldbully

I like #1......I'm still reeling after last night's run on these Plats!!!! Never seen anything like it(except the last days of the ASE sets was pretty exciting)!!!!

How about #5. Bear goes into hibernation.

OPA

<< <i>And finally...is there much (any) chance that LESS Proofs were produced than UNCs in 2008?!? >>



That could be the case ... I believe that the proofs were produced early in the year & production halted and never restarted when the price of Platinum shot up to $2k or more. The Mint is taking a loss on that production run.

HalfStrike

I'm not sure but maybe the more experience people know.

clouisejewelers

Have you tried to buy any platinum elsewhere since its price plummet? I have been trying both as a dealer adn a collector to secure platinum Eagles(especially proofs adn fractionals) and have found very little out there from the public or my extensive dealer network. I have been buying a fair amount directly from the mint because their price was very reasonable and I know I will get good quality coins that my customers want! It has been the only reliable source for platinum lately.

GritsMan

I, too, agree with Number 1--which I and many others here have been expecting all along.

I also believe there's little connection between the unc-w plats and the proof plats. While many of us collect both, a 4,000 mintage proof is just as impressive to me as a 2,000 mintage unc-w. Now, if the proofs DID come in under the unc-ws in mintage, that would just be astounding, but I'm looking at the two independently.

I doubt the auto bailout was the cause. It's the lack of demand killing these companies and a bailout won't improve auto sales--or the number of catalytic converters.

renman95

#1 in conjunction with #3 and BHO's comments on "Meet the Depressed" Sunday morning. Just like what Gartmann said on CNBC, if it falls on your foot and hurts, buy it. Infrastructure play with BHO throwing 100's of $illions at roads and bridges. That would explain aluminum, steel, concrete etc. Platinum? I don't think we are at a worldwide turnaround for autos. So, I think it's just #1 and a "whale" bought it all up.

I've never seen anything like it. I thought the run of the Buffs was impressive.

Ren

ricko

(theme from Twilight Zone)... just plain fun to read these boards... Cheers, RickO

fishcooker

5) These 3 little words: "30 day return"

notwilight

Too many people here on the forum are too well connnected. If there was a rumor/leak/breaking news that made a run on the mint platinum, we would have heard it here near the beginning, not afterward. --Jerry

renman95

We will be selling these coins to each other.

Goldbully

<< <i>We will be selling these coins to each other. >>



Wanna just drop ship them to me now???

Overdate

4. The Treasury itself has decided to suspend PM sales in the U.S. (not yet officially announced) and word leaked out...causing a buying frenzy similar to No. 1 above. IMHO At least possible/plausible.

This would more likely have caused a run on the remaining "W" gold eagles instead of the platinum ones.

RichR

Courtesy of ericj96...actually stolen from ericj96...but we're all friends here, right?


WEEKLY SALES REPORT FOR 12/7/2008

1OZ
.5
.25
.1
4 SET

PROOF PLATS
2432
1056
1293
2810
2296

PROOF BUFFS
11640
4637
5985
11337
7931

UNC BUFF
3138
3580
4108
12626
6561

UNC W PLATS
1951
1257
1778
2485
2158

UNC W ASE
424654


One thing to keep in mind when assessing these Proof and Unc plat numbers is that the proof numbers don't include the Monday night selling orgy...and the Uncs may not represent all of the recently canceled orders. But regardless...any potential new keys jumping off the screen here?

ElKevvo

Hmmm...how did you all know that the selling went on? Just curious...

K

COINB0Y

Hey they are OUR Mint Stats because it is OUR MInt!

RichR

<<Hmmm...how did you all know that the selling went on? Just curious...>>

It was like a snow motion train wreck yesterday...as all remaining plat proofs literally got soaked up in something like an 8-hour time frame.

puritan9

I also check this group. When I realized what was happening, I bought, and bought , and bought!