2006w Platinum coins anyone ordering these ??

TRADECOIN · October 16, 2006 3:51AM

Thank you

kiyote · October 16, 2006 4:33AM

220 4-piece sets so far.. these things are dead in the water! I think the half oz and quarter oz fractionals have less than 50 ordered singly. Coinworld has the latest numbers-- all told, these are selling dismally.

SlangNRox · October 16, 2006 4:34AM

Now everyone is going to be ordering them. Thats if anyone still has any money left after getting their gold american eagles.

TheRaven · October 16, 2006 4:35AM

I will be ordering the 1/10 oz platinum and probably the 1/10 oz gold one as well.....

Might get the 1/4 oz platinum if I can afford it, since the mintage is going to be stupid low.....

BigTom · October 16, 2006 4:51AM

I was looking at that today, but only for proof

MrEureka · October 16, 2006 4:52AM

If mintages stay low, the rush will be on in December. Christmas shopping, of course. We are not speculators.

BigDaddyz · October 16, 2006 5:01AM

So, the 1/2 oz platinum coins that the article says they've sold 54 of...is that the 2006W Uncirculated from the mint site or is it talking about some kind of just bullion coin that you have to buy from a reseller?

TheRaven · October 16, 2006 5:02AM

the w mint from the web site.....

TRADECOIN · October 16, 2006 5:05AM

Thank everyone for the info on the 2006w unc. Platinum coins.

kimon1230 · October 16, 2006 5:19AM

Well, I was planning on buying a 1/10 oz. platinum unc. W just because I felt like it. Not for speculative or investment purposes.
I'm guessing that the Mint will release unc. W coins every year from now on, so I'd like to start colecting the series.
I may even buy a 1oz gold one too, to have one of each (already have 3 SAE sets)

kiyote · October 16, 2006 5:51AM

The risk is even less than with proofs.. the price is closer to spot.

fishcooker · October 16, 2006 4:08PM

50? No way! They could sell 50 just from people who clicked the wrong box.

FloridaBill · October 16, 2006 4:20PM

The Blue Chips will return 20% each year for the next two years…

Choose your numismatic investments carefully …

FloridaBill

7over8 · October 16, 2006 9:05PM

Steer clear of those equity markets, 20% return after a 50% decline. Isnt this a coin thread anyway.

Back to this PLAT W set - dont wait till December to buy - even though open mintage, dont be surprised if an order placed in December is not honored. Just like the Salt LAke Unc $5 and the 2004 Proof 4 pc PLAT - there is a track record of the mint doing just the same on other coins....

ttown · October 16, 2006 9:38PM

Have they indicated they would stop production in 2006? I would think they'd sell them until mid-07 when the new coins are realeased just like the proofs.

SportsModerator · October 16, 2006 9:59PM

<< <i>Have they indicated they would stop production in 2006? I would think they'd sell them until mid-07 when the new coins are realeased just like the proofs. >>

And that is where the roll of the dice enters the picture. Will they stop selling in Dec., or continue through 07? If December, it's a winner, past that until they are sold out, you're going to be in the red for a long time. Place your bets gentlemen! Remember, you are dealing with the Mint. Caveat emptor

FullStrike · October 16, 2006 10:47PM

Got to be 20,000 speculators out there just waiting to click away and drive the mintage to the point of no retuirn. I'll bet several very rich guys will order 1000 sets each. And whos to say the Mint isn't fudging the numbers lower just to bait buyers in?

I'm sticking to the proofs, those are the collectable version. All the w's are is a bullion coin with marketing thrown onto it. Come to think of it, that's what the proofs are, also. But who cares, I like them anyway... been buying them since 1999.... which is when I got back into coins after a 21 year break.

SportsModerator · October 16, 2006 10:55PM

Why I'm shocked that you would suggest that the Mint not tell the entire truth and fudge figures through the use of weasel-words. Like this would ever happen

7over8 · October 16, 2006 11:24PM

Guys -
Please....the Mint would sell any PRODUCTION that remained UNSOLD into 2007.

But, be aware that the Mint doesn't mint 10-20K of these sets and sit them on the shelf waiting for buyers.

As we have seen with the 2004 Proof 4 PC PLAT set and the 2002 Salt Lake City UNC $5 Gold - they produce these coins in several production runs. These runs are based on demand - actual orders, after the first run being the seed sets to get going.

I cant see them producing more than a 1,000 seed sets of this 2006W PAT W Unc 4 pc set - and with the dismal sales - they wont be quick to run a second run any time soon.

The above mentioned coins and sets (2002 Salt Lake $5 unc and 2004 Proof PLAT 4 pc set) were well under authorized mintages and were mysteriously "pulled" from the mint site (not available) well before the end of the ordering period. Anyone inquiring to purchase these (well within timeframes and mintage limits, as authorized by law) was told "Not Available"- basically you are out of luck.

Dont wait until the 11th hour if you want one of these sets - I for one will be monitoring mintages until 2-3rd week of November, then pulling the trigger.

CoinMaster1229 · October 16, 2006 11:39PM

How does the proof platinum mintages this year so far, compare with past years?

dpoole · October 16, 2006 11:51PM

Coinmaster:

Wondercoin addressed your question here.

FullStrike · October 16, 2006 11:53PM

Proof mintages this year are up to 2005 levels. The 2004 low mintages have brought too much speculation into the fold. I doubt you will ever see mintages dip very low. Think of the attention the 1973 Brown Proof Ikes brought to that series. The 1973 40% Silver Proof Isenhower Dollar was the low-mintage key to the series and I would expect the 2004 Platinum Proof Eagles will remain the keys to their series.

FullStrike · October 17, 2006 12:15AM

<< <i>Why I'm shocked that you would suggest that the Mint not tell the entire truth and fudge figures through the use of weasel-words. Like this would ever happen >>

Good one.

After the frenzy surrounding the 3-pc Gold sets, the Mint has been shown the potential of limited mintage releases. Remember the Franklin Mint? They were big time into limited editions. Problem was they were into a flood of limited editions. It's just like the sports cards market, it's evolved into 50 low mintage sets vs 5 large mintage sets.

Expect to see many more limited edition sets from the US Mint. Also, expect to see a few no-limit sets out there to cash in on those that got left out and ready to be trapped into a no-win situation.

You're dealing with the US Mint here folks. They have become the Franklin Mint. I wouldn't be suprised to discover that the marketing people from the FM have found their way to the US Mint.

If you think the Platinum W Uncs are showing potential, just think what those Gold First Lady Coins are going to offer. Like I said, multiple low mintage issues. Will anyone be able to speculate with all those?

The flood of low-mintage US Mint product has just begun.

53BKid · October 17, 2006 12:52AM

Fullstrike is right on the money!

Coin collecting seems to go through a variety of different cycles and history is in the midst of repeating itself. The mint is squeezing the golden goose so hard to maximize the amount of expendable dollars available on the coin universe, while attempting to broaden its marketing to new collectors. In the process they will put out a lot of junk (like the mid sixties mint sets) and a lot of rarities. The problem is, most collectors will get fed up and turn away once again from collecting these products.

Topps, Donruss, Flear, Upper Deck, Score jumped on that type of bandwagon beginning in 1985 and twenty years later all but two are out of business. While the products became awesome with the most updated technology, kids don't collect sports cards anymore. Maybe a few pacs or a full set bought at Christmas, but that game is over and done with.

As for the mints product selection, its never been better--there's something for every budget. However, so much is being marketed (especially in the commemorative sector looking forward) that we are bound to see collectors respond the same way to this oversuply as they did at the end of the 30s and 40s when commemoratives just died out. The entire program became pork-barrell politics and the mint produced some really stupid coins.

The $10 first lady series might initially get some subscribers, but the number of people who actually will buy the entire series might be limited to a couple dozen people nationally after these coins initially sell at high premiums and steadily decline or remain stagnant for decades--no different than last century's low mintage commemoratives. Those coins languished for decades.

While the mint will expand its revenues this year and probably next--we'll witness again what happens when they go hard against the primary rule of economics: supply and demand--when you produce too much supply--far out pacing demand, prices decline--that simple. If you really over do it, people get so disillusioned with their Tulips that they abandon them--the mint is accellorating the pace and collectors expectations will be dashed.

As much as I've disagreed with dealers and collectors perceptions on

<< <i>modern crap >>

. Once the FIRST HAG Series gets underway, the bough will break as we will be past the tipping point. Disillusionment with commemoratives and the spillover into all the other mint products.

aficionado · October 17, 2006 1:12AM

To early to do anything.

I'm waiting until Nov., atleast.

pf70collector · October 17, 2006 6:54AM

I ordered the 1/10 ounce and the 1/2 ounce platinum uncirculated W. The mint stated that these will be minted depending on demand, but this verbiage is now gone. Its a crapshoot whether they will stop selling by the end of the year. I hope they stay unpopular. Better strike quality if you order early maybe.

7Jaguars · October 17, 2006 7:43AM

Those are some good points: it appears the mint is once again trying to kill the goose that laid the golden (platinum) egg, and has not learned from either their own example of the 1930's or the Franklin mint or sports card fiascos. I think the "first spouse" bit is really a test of how stupid we are & fully expect these to be relative commercial failures - the Feds on this remind me of bad little kids that never had their discipline and are still trying to test their limits.

As loyal a customer as I have tried to be, I will pass on the spouse and president bits although I am sure they could not care less about any of our sentiments.

2006w Platinum coins anyone ordering these ??

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