HOLY SNIKIES! $672.00 for a 2004 platinum tenth oz!

kiyote · August 5, 2005 12:03PM

Wow, that's gotta be some kinda record...

Ebay Link

jsnruf · August 5, 2005 1:58PM

I suppose DCam is enough for an explanation.

XpipedreamR · August 5, 2005 2:01PM

Aren't they all 69DCAM?

airplanenut · August 5, 2005 2:02PM

<< Aren't they all 69DCAM?

>>

If not 70

jsnruf · August 5, 2005 2:17PM

Wow. Shows what little I know...

sumdunce · August 5, 2005 2:34PM

When platinum hits $7000.00 per ounce...

That buyer will have the last laugh.

eyoung429 · August 5, 2005 2:55PM

Not mine.......

DickyBetz · August 5, 2005 2:57PM

<< When platinum hits $7000.00 per ounce...

That buyer will have the last laugh. >>

michael · August 5, 2005 3:23PM

wunderful wunderful

michael · August 5, 2005 3:24PM

an extremely rare and in demand piece of plastic

RegistryCoin · August 5, 2005 3:26PM

Probably just one of those crazy supply/demand things.

FatMan · August 5, 2005 3:40PM

<< Probably just one of those crazy supply/demand things. >>

Yep, buying coins demands some brain matter......and this buyer had a very little supply.

RegistryCoin · August 5, 2005 3:44PM

...and two under-bidders less than $25 away from stupidity.

kiyote · August 5, 2005 5:36PM

Raw, they typically sell for anywhere from $190-$260, and like XpipedreamR said, they're all PR69Dcams (except for the 70s)

Yeah, stupid money.. for another $60-some bucks you can get a half-ounce new 2005 proof version that's gonna be a lot scarcer. The only thing I can reckon is there's a lot more people collecting the tenth ouncers, and the 2004s in plastic only come up every couple of months.

RegistryCoin · August 5, 2005 9:35PM

<< The only thing I can reckon is there's a lot more people collecting the tenth ouncers, and the 2004s in plastic only come up every couple of months. >>

I guess I reckon the same: Some may see a very small mintage and miniscule grade-through rate, 29 bids from a dozen bidders for a pop 49/2 coin with 31 sets currently registered at 69.0 or higher with only the top 8 sets containing the '04 in any grade, and determine demand outweighs supply, and that this imbalance probably will continue to support these price levels.

wondercoin · August 5, 2005 9:54PM

The only thing I can reckon is there's a lot more people collecting the tenth ouncers, and the 2004s in plastic only come up every couple of months.

The Winning Bidder Was Lucky This Guy Didn't Join In The Bidding Frenzy!

cosmicdebris · August 5, 2005 9:54PM

Wow! I wonder what the 1/4 ounce would bring?

RegistryCoin · August 5, 2005 10:24PM

Mintages for unc. tenth oz. plats.:
1997 - 70,250
1998 - 39,525
1999 - 55,955
2000 - 34.027
2001 - 52,017
2002 - 23,005
2003 - 22,007
2004 - 15,010

Ps. Bill, relatively similar pricing applies, imho.
Mintages for unc. 1/4 oz. plats.:
1997 - 27,100
1998 - 38,887
1999 - 39,734
2000 - 20,054
2001 - 21,815
2002 - 27,405
2003 - 25,207
2004 - 18,010

From Lynncoins.com:
"Experts in the coin market are saying the 2004's
Tenth oz United States Platinum Eagles are expected to be the lowest mintage since the US government mint began making platinum coins in 1997. Preliminary mintage figures show only 15,010 coins were minted...We don't usually stock American platinum coins. However, with such a low mintage the 2004's look like good buys. So, we hunted until we found a small quantity of these "

AbesNeighbor · August 5, 2005 10:31PM

They minted even far fewer Proofs then MS coins. This is very rare and the $25, $50, AND $100 proofs are even more rare - Less than 6,000 total for th3 $50 and $100 Proofs. If you want one they are hard to find.

FullStrike · August 5, 2005 11:30PM

A fool and his money ...............................

RegistryCoin · August 5, 2005 11:48PM

Ah, the Greater Fool Theory. Admired by few, loathed by many.

wondercoin · August 6, 2005 12:49AM

All kidding aside - IMHO, the market may have gotten ahead of itself with this $672 price level on this coin. I submitted a 2004 1/10 oz Proof in the original capsule for a dealer that looks like an easy PR69DC grade (I should get it back next week). This dealer is very knowledgeable of the Proof Platinum market and he told me he had emailed a customer of his earlier in the week offering the coin in the PR69DC holder (as a pre-sell) at $300, but did not get a response. Instead that same customer ended up in the bidding chain fighting for the ebay coin. Admittedly, the ebay coin was available now and this other coin may or may not actually graded PR69DC - well, having sat in many an auction room, it is clear that at times auction coin prices for even nicer "widgets" can exceed what the bidders can actually buy the coin for from their dealer outside the auction arena.

While I personally love the Proof and MS Platinum coins, especially those with very low mintages, there does appear to be some "exhuberance" going on right now among some collectors trying to "catch up" on earlier issues. For example, earlier this week in the Heritage Bullet sale, a 1997-2003 MS69 set of Plats (28 coins) sold for $17,000+, a figure I had some trouble understanding as well.

And, I am not saying that the Proof Platinum market can not, over some time, rise and a coin like this 2004 1/0 oz. proof eventually be worth $672 - in fact, I think it possibly can. But, again, IMHO, I believe the market got a bit ahead of itself this week.

Just my opinion - been wrong before, will be wrong again.

Wondercoin

RegistryCoin · August 6, 2005 1:10AM

<< IMHO, I believe the market got a bit ahead of itself this week. >>

This may be true, but I think it depends upon how many new players jumped in this week, and how many more will jump in next week. The number of plat. players seems to be growing by leaps and bounds of late.

wondercoin · August 6, 2005 1:13AM

"This may be true, but I think it depends upon how many new players jumped in this week, and how many more will jump in next week. The number of plat. players seems to be growing by leaps and bounds of late."

RC: You make a good point. We'll have to watch to see what the next couple coins fetch at auction to have a better feel on the subject.

Wondercoin

pf70collector · August 6, 2005 3:45AM

Glad I bought my $50 Raw Platinum Proof from the U.S Mint last year. I love the design on this one.

kiyote · August 6, 2005 5:11AM

I just sent my 2004 proof $50 into PCGS for the photo-grading express service thingy... *crosses fingers for a PR70DCAM, which there are currently none*

Goldude · August 6, 2005 5:15AM

Biggest scam in the coin markets, graded Platinum and American Eagles

fc · August 6, 2005 5:21AM

i find the plat proofs to be butt ugly. liberty on the obverse is not done very well.
the reverse is barely memorable at all.

one has to be a dealer or a collector of these things to even care one bit.

dpoole · August 6, 2005 5:27AM

I imagine more people are getting interesting in platinum and gold bullion coins because of anticipations that bullion metals will be moving up hereafter. From a numismatic perspective, it makes some sense to favor the lower mintages, particularly among the plats. Still, at this price, the buyer'd better be right!

Can't imagine why 69DCAM would matter, since all but the most pulverized get that grade, save to demonstrate that the coin had been perused by PCGS for 70 and had been found wanting.

kiyote · August 6, 2005 5:44AM

<< Biggest scam in the coin markets, graded Platinum and American Eagles

>>

Then there's money to be made somewhere!

Just make sure you're on the right side of the fence.

toothpuller · August 6, 2005 6:14AM

I bought one each of all of the earlier $10 PR69DCAMs plats for a little over an average price of $110. Every once in a while I remember to check for a 2004 but they never seem to be available. Some collectors got frustrated and bid up the coin because they wanted to keep up to date/complete.

kiyote · August 8, 2005 11:09AM

Another 2004 proof platinum coin is getting auctioned off as we speak... a $50 coin!

What'll it bring!?

rip · August 8, 2005 11:15AM

I believe that 'schnikies' is the proper spelling...

kiyote · September 8, 2005 1:27PM

<< Wow! I wonder what the 1/4 ounce would bring? >>

Let's find out!

2004 Proof $25 platinum coin, in box with COA

ericj96 · September 9, 2005 8:22AM

The real killer that I don't hear anyone talk about is the final mintage for the 04 proof plats has a VERY high probablity of being in the less than 5000 range for the half and 5000-5200 range for the quarter. The last returns processed were around the first week of Feb. and the typical order, issue, mail, review, return to mint time is about two weeks ........SO......Everything from the last week of January to April 7th has not been reduced from the final sales numbers of 5136 and 5260. This is the point. If 03s return rate is any indication, the roughly 500 pcs sold in this period subject to return could yield 140 each of the halves and quarters returned.......03 had roughly 344 pcs of the halves and quarters returned respectively.

Guys the 04 half just MIGHT crack into the 4000s. The stone rejected by the builders has become the chief corner stone regardless wether the majority recognizes it immediately or not.....

Eric

ps: THE 5095 NUMBER FLOATING AROUND IS WRONG.

SlangNRox · September 9, 2005 9:06AM

<< I just sent my 2004 proof $50 into PCGS for the photo-grading express service thingy... *crosses fingers for a PR70DCAM, which there are currently none* >>

Any update on what grade you received?

kiyote · November 6, 2005 2:50PM

Now $672 seems like a bargin...

$1125.00 for a 2004 tenth oz

kiyote · November 6, 2005 2:53PM

<< 

<< I just sent my 2004 proof $50 into PCGS for the photo-grading express service thingy... *crosses fingers for a PR70DCAM, which there are currently none* >>

Any update on what grade you received? >>

Yeah, the update was from my dealer, who said he was going to submit it to NGC, so I cancelled it.

(I still have it raw now)

TheRaven · November 7, 2005 2:24AM

I like my 1/10 oz platinum proof right where it is, in the original government box on top of my 2001 to 2003 coins.....

Looks like going back and adding the 1997 to 2000 going to cost more then I figured.....

CarlWohlforth · November 7, 2005 2:32AM

Darn! I don't have proofs, only MS 69 1/10 oz platinums....

ttown · November 7, 2005 2:40AM

It looks like "goinplatinum" drove this auction up and he wasn't kickout until after it closed. If they had removed his bid this coin would have gone for a little over $500 more than likely but still too high. 03 to 05 1/10 ounce proofs don't come up too often and I wonder why everyone bids so much on the 01 but the 02's don't really bring that much.

uncleben2 ( 91) US $671.99 Aug-05-05 18:59:54 PDT

mbrad67 ( 233) US $661.99 Aug-05-05 18:48:10 PDT

goinplatinum(private) Not a registered user US $655.55 Aug-05-05 18:59:46 PDT

ibuylucent ( 554) US $501.00 Aug-05-05 18:14:56 PDT

HOLY SNIKIES! $672.00 for a 2004 platinum tenth oz!

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