Who is buying all the 2011 Platinum proof 1 oz coins and why??
2manycoins2fewfunds
Posts: 3,036 ✭✭✭
I'm surprised at the continuing sale of relatively large numbers of 1 ounce platinum proof coins.
Who is buying these and why??
If there is sufficent interest to sell 12K+ of the 1 ounce 2011 slugs then I would have expected some spillover interest in the various earlier 2006-2008 proof and uncirculated W coins where mintages are 50%-80% lower.
2011 AMERICAN EAGLE PLATINUM PROOF COIN 12,920 .........+449
Who is buying these and why??
If there is sufficent interest to sell 12K+ of the 1 ounce 2011 slugs then I would have expected some spillover interest in the various earlier 2006-2008 proof and uncirculated W coins where mintages are 50%-80% lower.
2011 AMERICAN EAGLE PLATINUM PROOF COIN 12,920 .........+449
0
Comments
<< <i>I'm surprised at the continuing sale of relatively large numbers of 1 ounce platinum proof coins.
Who is buying these and why??
If there is sufficent interest to sell 12K+ of the 1 ounce 2011 slugs then I would have expected some spillover interest in the various earlier 2006-2008 proof and uncirculated W coins where mintages are 50%-80% lower.
2011 AMERICAN EAGLE PLATINUM PROOF COIN 12,920 .........+449 >>
Strictly a bullion play, I guess many expect Platinum to regain it's throne.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
<< <i>Who is buying these and why??
If there is sufficent interest to sell 12K+ of the 1 ounce 2011 slugs then I would have expected some spillover interest in the various earlier 2006-2008 proof and uncirculated W coins where mintages are 50%-80% lower.
>>
What's so hard to understand about it? People are buying them as a bullion play, nothing more nothing less. Considering how high premiums are on platinum (1oz 2011 proofs are currently $1971 at Apmex even though you can buy them for $1792 from the mint ) it's not that surprising that people would choose to simply buy from the US mint. Granted there aren't that many platinum stackers out there, but with Pt trading for less than Au a number of folks are buying Pt for the first time. From following a couple of stacking boards I can tell you that interest in Pt seems to be up as the number of threads on the subject has increased compared to year's past. Those same folks may one day learn to focus on fractional proofs or the burnished fractionals, but I'm certainly not preaching to anyone regarding the burnished coins until I have at least a full set with a few extras on the keys (only need a couple more coins at this point). I was lucky enough to snag another 2007W pcgs MS70 $25 eagle for $530 just a couple days ago so clearly there aren't very many Pt collectors out there. Less competition is a good thing so the fewer people seeking out fractional eagles the better IMO .
<< <i>I'm surprised at the continuing sale of relatively large numbers of 1 ounce platinum proof coins.
Who is buying these and why??
If there is sufficent interest to sell 12K+ of the 1 ounce 2011 slugs then I would have expected some spillover interest in the various earlier 2006-2008 proof and uncirculated W coins where mintages are 50%-80% lower.
2011 AMERICAN EAGLE PLATINUM PROOF COIN 12,920 .........+449 >>
I do like most of those designs, Mercanti might start signing those too.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
<< <i>I do like most of those designs, Mercanti might start signing those too. >>
One of several Mercanti Pt eagles on eBay
<< <i>not a bad looking design and a metals play, I'm sure. >>
although they are not hot sellers on the bay
I knew it would happen.
<< <i>If I had a way to do it, I wouldn't mind having a couple dozen of those in my 401k. I think those would be good long-term slow gainers. >>
Agreed if I could buy them that way it would be nice. I just don't have the money to afford them even though Eric and others point out they are great long term plays.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
I like the design. I didn't have a Proof Platinum, and the price (I bought about two weeks ago for $1692, it arrived last week) looked attractive.
For me, it was a price opportunity/metals/collection decision.
Nice and shiny 1 Oz of Pt vs 5 oz of Ag in A25 70 set for the same amount of $$$
I for one voted for 1 oz Pt as the less risky play
And on most days I personally prefer 1/4 oz $25 Pt to 1 Oz Ag
My Adolph A. Weinman signature
Box of 20
today (1/31), London close was $1624. that's up almost 14% in 1 month. Price at the Mint tomorrow will definitely go up to $1892.
i think you will continue to see rather high sales . . .
Mark
<< <i> I just hope I don't end up buying the 2009 and 2010 1oz proof to finish up my type set of the various APE designs. >>
<subliminal voice> Do it.... do it....</subliminal voice>
<< <i>
<< <i>I do like most of those designs, Mercanti might start signing those too. >>
One of several Mercanti Pt eagles on eBay >>
Thanks for the free publicity! --Jerry