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 Replies: 25 / Views: 5,835 |
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Bedrock of the Community
 United States
12819 Posts |
Too many other coins and U.S. Mint products to spend my money on.
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Moderator
 United States
188213 Posts |
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Too many other coins and U.S. Mint products to spend my money on. Agreed.  |
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Pillar of the Community
 United States
4409 Posts |
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Pillar of the Community
United States
669 Posts |
If I were to buy, it would only be to flip (which doesn't look to be worth it). Not a fan of collecting platinum when I can collect silver for a fraction of the price.
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Valued Member
United States
64 Posts |
I'll have to leave this one to the flippers. I may regret it, but it's too much for me to lay out.
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Pillar of the Community
United States
1817 Posts |
Flippers won. Gone in 5 minutes. This is how much the Mint loves and respects its individual customers. They used to maintain that they would never deliberately mint an instant rarity, but here you go. I was going to buy the first platinum coin ever, but that doesn't signify now. I'm not upset the $1,200 I save will go towards 2 back dated proof Spouses or 4 $5 gold commemoratives. So it's a win-win all around.  Edited by Bizybackson
12/03/2015 12:51 pm
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Pillar of the Community
United States
1601 Posts |
I'm aligned with the other comments on reasons not to buy - primarily the 40%. To cap it off, it's not even a pleasing design! It reminds me of some of the new fractional silver stuff [I call it prepper coinage] out there: supposed to look like a classic design but just can't pull it off. Is Ms. Liberty having a Michelangelo moment with the eagle or what? Has this design been employed before? In case you missed it, http://www.ebay.com/itm/2015-W-Amer...AOSwnipWXza6Edited by Biedercoins
12/03/2015 1:12 pm
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Pillar of the Community
United States
4409 Posts |
I ultimately decided to pass on this. I have already made two major currency purchases and don't want to overextend myself debt wise.
-MV
Edited by MeadowviewCollector
12/03/2015 1:35 pm
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Bedrock of the Community
United States
12819 Posts |
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I was going to buy the first platinum coin ever, but that doesn't signify now  Do you mean your first platinum coin ever? |
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Pillar of the Community
United States
1005 Posts |
So if the flippers won on this one, we might infer that most people who ordered one do not intend on holding it. What are the odds that the true demand is less than the 4000 mintage and resale prices crash as flippers try to unload their unwanted platinum?
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Valued Member
United States
64 Posts |
By announcing 4K mintage they created artificial demand. People buying on ebay right now probably never considered this coin until they found out it was sold out. Now they are afraid they will get priced out forever, and paying 50% more seems like a good idea. They see the sky as the limit. Even though this coin wasn't even on their radar until now. Getting involved with something like this now is a risky gamble at best. When things run up like this someone will be left holding the bag. If a pile of these show up for sale in the next few weeks interest will flounder sooner than later. That said, no one who bought at issue price will ever get hurt. If these settle down a little and you don't have 40 on ebay at a time, a gradual price rise will be better for it in the long run. |
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New Member
United States
2 Posts |
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What are the odds that the true demand is less than the 4000 mintage and resale prices crash as flippers try to unload their unwanted platinum? I would say unlikely, given that previous years without a bullion coin had demand for more than 4,000(with no such mintage limit/artificial demand). This will be a key item for those who are collecting the set, which would seem to be more than 4000. The design is also more attractive than some other years in my opinion. https://en.wikipedia.org/wiki/Ameri...tage_figuresEdited by Tribute
12/04/2015 12:15 pm
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Pillar of the Community
United States
2077 Posts |
The previous versions barely sold 5,000 with a much higher mintage. The early resales are all the people who missed buying at the mint (BECAUSE of the flippers). Once those buyers are satisfied, sales will be really slow. It's going to be a hard lesson to flippers who invested a lot in these.
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New Member
United States
2 Posts |
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The previous versions barely sold 5,000 with a much higher mintage. Exactly, so there is likely to be an under supply of at **least** 1,000 individuals, ignoring all of the people who buy it and plan on holding it for a decade or so. All of the previous year Proof platinum eagles have increased their premium over melt as years go by. This one will likely do the same, except to an even greater degree. |
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Pillar of the Community
1153 Posts |
These are selling on the bay for $2,100 at the moment. Looks like we all misjudged this one.
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Replies: 25 / Views: 5,835 |
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Posted 12/02/2015 11:45 am
