A 56 Minute Mint Sell Out!

MsMorrisine · May 20, 2017 3:11PM

Thanks coin world, read more on their site:
http://www.coinworld.com/news/us-coins/2016/07/platinum-proof-eagle-mintage-gone-in-56-minutes.all.html

Fast sellout for Proof 2016 American Eagle platinum coin prompts premiums 
Coin sells out in 56 minutes; initial premiums start to fall

[ I edited out some here ]

The Proof 2016-W American Eagle platinum $100 coin was offered by the U.S. Mint at **$1,350** per coin, with orders restricted to one coin per household.

thanks to kitco.com for their platinum charts:

Guess who has them on their website:
go ahead. guess. and check the price.

spot: 933bx943a on this date.

sold listings on the bay

a PCGS 70FS auction was at 1556, another at 1529.

PRECIOUSMENTAL · May 20, 2017 3:15PM

I made the correct guess.

Zoins · May 20, 2017 3:18PM

How did they get so many with a 1 per household policy?

MsMorrisine · May 20, 2017 3:18PM

check the price on said mystery site.

Coin Finder · May 20, 2017 3:32PM

Ok I'll bite. Someone lost their A$$ is this the point?

MsMorrisine · May 20, 2017 3:41PM

be your own judge. I want the discussion of the action.

epcjimi1 · May 20, 2017 3:48PM

@MsMorrisine said:

@Bochiman said:
And, if selling them at true auction hits that low, that should tell people about the current demand for these.....

new thread coming, but not to toss shade on this one, however, it is something to consider.

The flip side is Jackie Robinson

I guess

here is the new thread:
https://forums.collectors.com/discussion/981339/a-56-minute-mint-sell-out

Appears to be this one.

Coin Finder · May 20, 2017 3:55PM

Who's Judge would I be??

MsMorrisine · May 20, 2017 3:58PM

yes the new thread is this one.

recently, there have been a few surprising issues.

BackroadJunkie · May 20, 2017 5:25PM

I'm not sure what you're getting at here. That it's now below issue price?

That's not surprising. A mintage of 10K is on the high-end for 1ozt Platinum Proofs. Its mintage has only been surpassed twice in the past 10 years. At least it's above spot.

In order to understand the <1 hr sellout, you have to look at 2015 Plat Proof, which was limited to 4,000 coins and sold out in less than 10 minutes. (It was also the key to the series.) Sold for $1200, it is at least double that price now.

Flippers tried to cash in on that in 2016, and failed. They probably sold at a loss just to get out from under it.

On the other hand, it was the sister coin to the 2015, and the two are gorgeous right next to each other. If you have a 2015, the 2016 is very desirable.

Family Portrait

MsMorrisine · May 26, 2017 4:04AM

these mintage are from Wikipedia

2009 7,945 $1,792.00

2010 9,871 $1,892.00 ($2,092.00?) down to $1,792.00 ($1,692.00?)

2011 14,790 $2,092.00

2012 9,081 $1,692.00 (no sell out, max was 15,000 again)

2013 5,763 $1,800.00 (not a real sell out, max mintage 15,000 again)

MsMorrisine · May 26, 2017 4:12AM

I remember the 09 and 10 sell outs, these were hot flips

the mint made the mistake of "over producing???" the 11 to 15,000. That killed the flip market.

So, we see the aftermath for 12 and 13.

As for the current pricing of these, I see the raw and 69's trading down due to the much lower platinum price.

However, the flips profits were there in 09 and 10. They were hot.

The mint is having trouble selling these 16s. they killed the market. they are no longer hot even with a max mintage of 10,000, which is similar to the 10 issue. The 10 was hot but the 16 is not. Killed market.

I think we have reached a high state of collector fatigue coupled with (past and current) over production. There is a sweet spot to satisfy the market, but they seem to flood the market.

I point to threads regarding the declining spreads on generic $20 libs. The reason cited was a flood coming to market. It sounds familiar.

the 09 UHR hit 100,000 but had a sought after design.
there is no need to show ebay prices, as the raw ones are still above issue price

the 2015 Liberty sold out at just under the max mintage of 50,000 with a $1,490.00 opening price, but sold out slowly.

the 2017 Liberty? max mintage 100,000, and initial price of $1,640.00
huh? why not 50,000 again as sales of the 2015 slowed to a trickle towards the end.
a high mintage limit killed initial interest like the 15,000 max killed the 2011 initial interest.

MsMorrisine · May 26, 2017 4:41AM

of course, the 2017 could be a Jackie Robinson in the future

JazzmanJAB · May 26, 2017 5:52AM

@MsMorrisine said:
of course, the 2017 could be a Jackie Robinson in the future

That's what I been thinking. I have been watching PCGS 69's sold on E-Bay for $1,500.00 to $1,550.00 range. Still at that discounted price, I can't jump.

I don't think my future would bring me any financial benefit of owning this gold piece.

Goldbully · May 26, 2017 6:50AM

Man, that coin sure fell out of favor quick.

A 56 Minute Mint Sell Out!

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