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 Replies: 25 / Views: 5,830 |
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Pillar of the Community
United States
4409 Posts |
Poll Question
The US Mint has finally announced that on December 3rd it will put the 1 oz. Platinum Eagle proof coin on sale.
Mintage: 4,000 with a limit of 1 per household
Cost $1,200 + shipping
I don't see much discussion about the Platinum Eagles, so I decided to ask.
-MV
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Bedrock of the Community
United States
10982 Posts |
No. I've bought a few in the past but there's no way to justify the 40%+ premium over melt (currently $835). The design is nothing to write home about either.
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Valued Member
United States
374 Posts |
No sir. Not into platinum bullion. In fact, I'm not really in to any kind of bullion except for maybe junk silver.
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Pillar of the Community
United States
1005 Posts |
Even if I could afford it, I would not buy. I only buy such a high premium piece if the design makes it worth it for me, and this one certainly is not up to scratch. My major complaints would be the use of the dollar sign "$" instead of "DOLLARS", the incuse motto looks tacky, and the obverse image of the statue of liberty with the spaghetti hair is not my style.
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Moderator
 United States
187950 Posts |
I do not buy gold bullion, so why would I buy this?  |
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Rest in Peace
United States
17900 Posts |
With a mintage of 4000 it might be tempting. BUT (and there are so many of them)...
In order to have just one of each coin in mint state and proof and the variances of finishes (burnished, reverse proof, etc) including the bullion (supposed to be bullion but not sold at anywhere near bullion prices) you would need to spend in excess of $10,000 just for 2015 alone.
That's including all the myriad ways they have of packaging the coins in a zillion different "sets".
The US isn't anywhere near as nutso as Canada for what you need to buy each year to stay current, but they have too much product for anyone but the richest collectors to try to collect.
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Pillar of the Community
United States
7390 Posts |
On another forum sombody said that he got an email from an auction house saying they'd pay $100 over issue price for these. I don't have any platinum and 2016 is gonna be a big financial black hole so I'm with jbuck on this one
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Pillar of the Community
United States
5847 Posts |
Yeah, I have to agree that $1200 is just crazy money when platinum is currently sitting at $835 or so. If you really want platinum, why not try a Canadian Platinum Maple Leaf or an Australian Platinum Platypus (both available from around $950)?
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Pillar of the Community
United States
3156 Posts |
I got that e-mail. Scotsman coins is the co. that wants to do that.
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Pillar of the Community
United States
3789 Posts |
I voted no.
Big huge waste of money. Furthermore it is over priced for a metal stuck in a downtrend. Finally, anyone who sells this down the road will take a HUGE hit.
That said, I respect the fact that some folks want and like to collect this series. I respect that and understand that.
However, my dollars for large coin purchases while metals are in downtrends are being held back until prices either stop going down or start rising and break the downtrend.
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Pillar of the Community
United States
5205 Posts |
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Bedrock of the Community
 United States
12816 Posts |
Too many other coins and U.S. Mint products to spend my money on.
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Moderator
United States
187950 Posts |
Quote:
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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Replies: 25 / Views: 5,830 |
Posted 12/01/2015 2:39 pm
