Where have the Platinum Eagles gone??
MilesWaits
Posts: 5,301 ✭✭✭✭✭
Looking through Tulving, APMEX, Kitco, Gold Central, and others, there seems to be a shortage, or total absence, of Platinum Eagles for sale of any denomination or year??
Is the price too low for the large dealers to want to liquidate. or does a true, a true, shortage exist??
What is your opinion.......
Miles
Is the price too low for the large dealers to want to liquidate. or does a true, a true, shortage exist??
What is your opinion.......
Miles
Now riding the swell in PM's and surf.
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Interestingly, I don't see any of the Maples, Isle of Man, and very few Pamps, either, at the typical suppilers!
Miles
Since then and the subsequent drop in prices few are selling due to various reasons, scarcity, not wanting to take a loss, not wanting to sell for less than half the prior high, etc.
Also with the mint canceling the plat coins they are even more scarce since that is also a reason not to sell.
PS I would bet that many of the last ms69 pr69 coins may have been melted for spot at that point of the high price so that my also be why some "disappeared", LOL. People are driving with them in their catalytic converters.
<< <i>My guess also is that a great many plat eagles have been melted. >>
Yes, I know quite a few were last year when platinum was high. So I guess that means they are riding around the US inside catalytic converters.....
I knew it would happen.
<< <i>As far as the unc platinum coins go they are low mintage and the majority are in strong hands. I know I wouldn't sell any of my 2006 to 2008 at these prices. >>
This thread (and that post in particular) made me re-think my BST listing, so I pulled it. I feel better already.
my early American coins & currency: -- http://yankeedoodlecoins.com/
Yes, I understand the Catalytics getting more of the Platinum although auto sales are way down now and the MINT, seemingly has tried to replinish the supply.
Albeit, the mintages remain down; yet, it just seems sudden that the big dealers are empty??
Miles
<< <i>
<< <i>My guess also is that a great many plat eagles have been melted. >>
Yes, I know quite a few were last year when platinum was high. So I guess that means they are riding around the US inside catalytic converters..... >>
Why would eagles of any kind be melted? As an investment standpoint, they are in the perfect form as they are - and god knows they carry a high enough premium. I also refuse to believe that industrial supply has gotten so thin that lab crucible makers and catylitic converter manufacturers are resorting to purchasing high mark up eagles and melting them down.
I think the more likely answer is that no one wants to sell at a huge loss.
This is of course just what I think.
<< <i>The Proof 2008 1/10 is unbelievably low in terms of Mintage and prices have fallen from around $400 to $300. What kind of price appreciation do you guys think these may see in 5 years? >>
Assuming the mint stops making them and 2008 was the last year, I expect to see $1500 or more for the 1/10.
PS I also sent in some coins to be melted last year but they weren't platinum, they were w gold unc. I needed every penny for the gift the mint gave us in 2008.
my early American coins & currency: -- http://yankeedoodlecoins.com/
Wondercoin
<< <i>
<< <i>My guess also is that a great many plat eagles have been melted. >>
Yes, I know quite a few were last year when platinum was high. So I guess that means they are riding around the US inside catalytic converters..... >>
That is why the 2006 - W UNC will always be KING.
a) people are unwilling to sell at half the 'peak'--even if it is only a perceived, rather than a real, loss
b) there really ARE some collectors out there who realize that it's going to be tough to rebuild a collection if they liquidate now.
I know that both of these factors influence me, even though I have a few "extras" to dispose of.
That said, I have no doubt there is a large supply of certain dates/types still out there--and, perhaps a real, unrecognized shortage of others. I think the most interesting dates are the proof 2000-2002s. These are totally off the radar and yet are not coming up much.