Advice on platinum coins please

tallarrs1

Hi I'm considering purchasing some 2006 w platinum eagles. Thoughts on if this is a decent long term investment? Thanks!

ambro51

We have a member in our local coin club who has been into Platinums for several years.

Im not sure how it relates to his age (upper 70s) but he is very actively selling his coins at this point.

BillJones

When I was an active dealer some years ago, the platinum coins were almost exclusively viewed a bullion. There was no numismatic interest in them from what I could see. I had a customer who gave me a U.S. platinum piece to sell so that he could use the proceeds to buy numismatic items. I got no collector interest whatsoever. Most of the local dealers did not want the coin. A dealer who specialized in bullion bought it from me for a bullion related price. Therefore as an investment you are betting on the future price of platinum metal.

There are some people who post to this blog who collect these coins. They will probably disagree with what I've written. It will be up to you to decide if their claims that these coins have enough of a collector following to give them a premium over their bullion value.

tallarrs1

Hmmm....ok thank you for this advice. I am also considering the 2006 20th Anniversary Gold set as well which might make a better long term investment. Thanks for any thoughts!

jmski52

Plats are not easy to collect, simply because of the cost. Most of the dates are available at one time or another in graded plastic. What Bill Jones said is essentially true, but the fact that many of these coins exist in very small mintages makes them intriguing. The collectors of Plats are content to sock money away in platinum as bullion, knowing that at some point the numismatic component will make the case for collecting them very compelling.

Whether they appeal to you or not, whether you consider them to be coins or not - they will eventually take their places in the constellation of collectable US coinage and be seen as the ultimate Modern series having the highest percentage of bonafide rarities.

Much the same as Large Cents, I actually prefer Plats unslabbed and they make a much more impressive visual array that way. I would always recommend buying them graded by one of the major firms, and then crack them out if you like them better raw. They don't oxidize like copper and they won't corrode. It's all good.

timber100

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I really did learn quite a bit from following this thread, or buy Erics book, it will take less time to read.