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Where have the Platinum Eagles gone??

MilesWaitsMilesWaits 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
Now riding the swell in PM's and surf.

Comments

  • GATGAT Posts: 3,146
    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.
    USAF vet 1951-59
  • MilesWaitsMilesWaits Posts: 5,301 ✭✭✭✭✭
    Yes, I agree GAT, I am holding at this point for the Eagles I got from the MINT.

    Interestingly, I don't see any of the Maples, Isle of Man, and very few Pamps, either, at the typical suppilers!


    Miles
    Now riding the swell in PM's and surf.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    From what I observed when platinum ran up to over $2000 an ounce that is about the time when many of the supplies dried up except for ms70 pr70 coins. The higher the spot price went the fewer coins they had out their.

    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.image People are driving with them in their catalytic converters.
  • RegistryCoinRegistryCoin Posts: 5,111 ✭✭✭✭
    My guess also is that a great many plat eagles have been melted.
  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <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.....
  • jmski52jmski52 Posts: 22,302 ✭✭✭✭✭
    I ran a want list/trade list on BST, no inquiries at all.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • I don't have a specific answer, but precious metals have been getting a ton of press of FoxBusiness channel the past week. Many of the commentators are recommending people put money in gold, silver, platinum. Scott Travers (author?) was on for about 5 minutes the other night. He was saying how more and more people are demanding to take possession of physical product, then he went on to talk about generic gold...


  • << <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. image
    Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.

    my early American coins & currency: -- http://yankeedoodlecoins.com/
  • MilesWaitsMilesWaits Posts: 5,301 ✭✭✭✭✭
    Hmmm....and wow. I hope you, as I do, find now is a good time to hold the keys and near keys.

    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
    Now riding the swell in PM's and surf.
  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I'm talking past years were melted last year. Nobody is melting them now. --Jerry
  • 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?
  • PutTogetherPutTogether Posts: 2,141 ✭✭✭


    << <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.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭


    << <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.image
  • IIRC, the 2006-W $100 was sold by the Mint for $1400 at the end of 2006, maybe less than that earlier. I wasn't standing over a melting pot, but I'd be willing to bet at least some MS-69's didn't make it past the market peak, which lasted for months.

    image
    Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.

    my early American coins & currency: -- http://yankeedoodlecoins.com/
  • coolestcoolest Posts: 2,281 ✭✭✭
    And the mint still has no indication that it will make any platinum coins in 2009?
  • RegistryCoinRegistryCoin Posts: 5,111 ✭✭✭✭
    There may be some very good opportunities out there concerning the plat. Statue of Liberty coins, especially, imo, the '97 - '05 PCGS PR70s. If you can find pcgs proof 70s from these years to compare, take a look at the premiums over their raw and PR69 counterparts. I think one may like the potential of the base metal in combination with the potential numismatic values of these particular platinum coins.
  • wondercoinwondercoin Posts: 16,647 ✭✭✭✭✭
    The Proof Plats certainly do appear to have dried up of late. Dealers are now paying upwards of nearly a 40% premium to spot metal to find them. And, still the coins are only trickling in. And, RC is right IMHO - as the spreads to spot greatly widen (as they have done over the past 6-12 months), the PR70DC coins continue to trade at a lower and lower premium to the raw coins. In fact, at this point, there are now a few PR70DC platinum coins that trade at close to only a $100 premium to the raw coin! This creates an interesting opportunity on the PR70DC pieces IMHO.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.


  • << <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.
    Luck happens when preparation meets opportunity.
  • GritsManGritsMan Posts: 2,599 ✭✭✭
    I think a lot of you are right on. Some meltage, but also...
    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.
    Winner of the Coveted Devil Award June 8th, 2010

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