Proof Gold Eagles from the Mint

Wingsrule · May 10, 2006 9:21PM

Website now says the revised pricing should be posted on or around May 18. It was showing as May 11. Do they expect the price of gold to continue rising?

Could the Platinum eagles be next?

TheRaven · May 10, 2006 10:28PM

Platinum Eagles might be next, I might place my order for my 1/10 oz coin soon.....

MrKelso · May 10, 2006 10:40PM

<< <i>Platinum Eagles might be next, I might place my order for my 1/10 oz coin soon..... >>

I agree. This item is getting ready for a reprice at these levels.

coinmickey · May 10, 2006 10:47PM

Proof Platinum- Good.....they'll reprice to a higher level thus driving down the demand, and that will result in lower sales for 2006- probably the lowest in the entire series. So that will ostensibly make the 2006's the most valuable of the series, right??

You can tell I already bought my Proof Platinum for the year...

CC2GO · May 10, 2006 11:30PM

<< <i>they'll reprice to a higher level thus driving down the demand, and that will result in lower sales for 2006- probably the lowest in the entire series. So that will ostensibly make the 2006's the most valuable of the series, right?? >>

I HOPE SO! I just bought mine!

holadude · May 10, 2006 11:35PM

Same here. I went with the 1/2 oz due to fund availability and the fact that it has the lowest mintage. I just read an article saying that platinum prices shouldn't ever really drop since there is a huge demand for manufacturing. All it can do is go up up up!

MoneyCollector · May 11, 2006 12:08AM

I have mine too but (now understand that I'm a REALIST, NOT a pessimist) with all the excitement with the 2004 series everyone will be scooping these things up regardless of price, won't they?

What I find amazing is all the proof gold eagles I have bought are now worth more than I paid just for the bullion! I just bought them b/c they're so shiny!

CC2GO · May 11, 2006 12:15AM

I'm sure many people are scrambling to buy platinums. And I just read on Kitco
that "it's not unreasonable that gold will hit $1,000 by the end of the year!"

mhammerman · May 11, 2006 12:17AM

aficionado · May 11, 2006 12:21AM

Agreed. Look at all the people who just bought Platinum. Including me.

As for Gold, if they want to do 'repricing' stuff, then they should price it $50 above bullion on any given day(or what ever amount) . What if gold goes back to $600. Will they reprice downward, I doubt it.

They should have left it at $770. they are not buying gold in the market, so they wouldn't lose any money. There're just a bunch of greedy scammers. Let's say they sold half the 1 oz coins, that's 6,000 left, price those $100 more and they make $600,000 more, big money for us, but for the govt, no.

FullStrike · May 11, 2006 7:48AM

I broke down and ordered a 4-Coin Platinum set a few days ago - it was very painful. But I figured it would be more painful to watch the price rise and get myself shut-out out from this years Coins.

Order Date: 05/09/2006 at 05:54 PM

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BigE2 · May 11, 2006 1:11PM

I ordered platinums today.

kiyote · May 11, 2006 1:15PM

<< <i>I broke down and ordered a 4-Coin Platinum set a few days ago - it was very painful. But I figured it would be more painful to watch the price rise and get myself shut-out out from this years Coins.

>>

The pain only lasts those few days you have no money to eat, and are staring at your gas gauge with a mixture of curses and prayers.

EricSan · May 11, 2006 11:50PM

My guess that that the Mint will keep stringing people along on the web site until the current gold eagles are replaced by the new Gold Buffalos. The mint is pretty smart: how often are people checking back at the web page to see if Gold Eagles are "available yet". I suspect thats the end of them. The 10th of May is now the 18th of May. The 18th will then become the 24th... The 24th will become June 1st... On June first, Gold Eagles will be replaced with Gold Buffalos.

The real price adjustment going on is how much to raise the price of the new Gold Buffalos over what the Mint had originally planned. Yep, I ordered my platinum yesterday... They are next on the "Product is not available" list...

I might be a glass is half empty person on this one, but it beats holding an entirely empty glass when you are thirsty!

Eric

kiyote · May 12, 2006 1:19AM

I just ordered the 2006 quarter oz proof platinum-- I want the half oz for my growing half oz collection but can't afford it just yet, and am too afraid the mint might pull the program early.

BigTom · May 12, 2006 1:29AM

Eric, I don't see anything on mint site that talks about the Golden Buffalo. What's the story there? Link?

DeepCoin · May 12, 2006 1:32AM

The gold eagle program is completely separate from the new 24 karat buffalo coin. One will NOT replace the other. The problem is the volatility of gold prices. You have to remember the gold uncs are sold via distribution and priced to the market. The proof is intended to be a yearly program where the more desirable finish is priced at a premium. The problems occur when there are large upswings in the price of gold and the proof becomes less expensive than the unc coins. It is an issue of variable versus "fixed" pricing models. The Mint is just trying to equalize pricing in a dynamic market, not a simple thing to do.

BigTom · May 12, 2006 1:40AM

Am I overlooking the mint site on gold buffalo? WHat and when is it?

CC2GO · May 12, 2006 1:51AM

You can find more info on the Gold Buffalo in THIS FORUM!

Kaelasdad · May 12, 2006 1:53AM

Platinum is still headed up, just crossed into $1300 territory. I followed suit yesterday and also bought some Plat Proofs, thanks guys--just wait till the wife sees that!! Even with Gold and Silver headed a little down today, Plat seems to be holding its own. I read yesterday that some pundits were reporting that Plat could slowly work its way to 1300. Okayyy, not so slow, actually went up to $1340 or so before correcting to $1314. Interesting times--only wish i could buy more, but I would have to sell the house to do that, and then the wife would really notice.

Russ

BigTom · May 12, 2006 2:08AM

Thanks CC2GO. You'd think the mint would have info posted on their website about these by now.

HonoluluDude · May 18, 2006 5:28AM

Repriced at $885. No one's gonna buy it now.

The Mint should just link their products to spot prices of gold and silver from now on.
Too volatile to reprice way higher after just a few weeks. They are shooting themselves
in the foot.

Jdurg · May 18, 2006 7:16AM

I picked up my first one ounce platinum coin this past weekend, though not from the U.S. Mint. (I finally got a platinum maple leaf to compliment my one ounce silver, gold, and palladium maple leafs). I figured if I was going to go and buy one, now was the time to do it. Just got a new job with a higher salary, have a credit card with 0% interest on it until March of next year, and have $600 I can pay off immediately. I'd have been foolish NOT to have picked up an ounce.

INXS · May 18, 2006 7:33AM

<< <i>Repriced at $885. No one's gonna buy it now.

The Mint should just link their products to spot prices of gold and silver from now on.
Too volatile to reprice way higher after just a few weeks. They are shooting themselves
in the foot. >>

$200 over spot, they can hold their breath.

Proof Gold Eagles from the Mint

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