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 Replies: 13 / Views: 1,801 |
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Pillar of the Community
United States
1353 Posts |
Only 20,000 to be minted. Anyone going to buy...or stay away?
Thank you
*** Moved by Staff to a more appropriate forum. ***
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Rest in Peace
10197 Posts |
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Valued Member
United States
115 Posts |
In the words of ALF........Pass
JFH
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Pillar of the Community
 United States
1353 Posts |
Thanks......Will take the advice!
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Rest in Peace
United States
17900 Posts |
Love the reverse Eagle. Might buy one just for that. But $2000 seems excessive price wise.
Ill wait a few years for a possible price drop.
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Pillar of the Community
United States
1353 Posts |
Is this a better buy at $1.420?  |
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Pillar of the Community
United States
1375 Posts |
That $2000 price that Moxking was quoting was quite an exaggeration. It looks like the Mint is pricing this coin the same as the normal platinum eagle proof. You can see how that varies in price with the price of platinum by looking at the Mint's pricing grid. Platinum would have to go to $1,600 an ounce for the Mint to price this coin at $2,000. That's a 60% increase in the price of platinum from where it's currently trading. Is $1420 a good price? Not sure, but don't think you're getting a fire sale price down from $2,000 because you're not. It's just the normal price based on where the platinum spot price is currently trading. There is a bit of a "deal" on this coin when compared to how the mint is pricing the 1/10 ounce liberty gold coin. The Mint is pricing that coin more than 10% higher than the regular gold eagle 1/10 ounce proof coin. So, it has a premium associated with it when compared to the bullion coin. That's not the case for the platinum coins. So, no premium. What a deal! Edited by BadDog
01/25/2018 8:34 pm
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Pillar of the Community
United States
1353 Posts |
So with only 20,000 minted is this worth buying or not?
Thank you
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Pillar of the Community
United States
1375 Posts |
Only the first year of issue (1997) has a mintage of more than 20,000 (just barely at 20,851). Will the fact the Mint is changing both the reverse (which is changed every year) and the obverse (first time it has changed) be enough of a draw for a sell out? It'll probably be tough at one coin per household.
I'm not interested in the coin, but if I were then I'd probably wait and see a few weekly production reports first. Also, if the Mint removes the household limit, then that will tell you there's not a lot of demand.
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Bedrock of the Community
United States
10038 Posts |
My personal opinion is that although the mintage is incredibly low, so will the market demand be. The main factor I theorize (note that word) in all of this is that the platinum coins will be something only 20,000 people will have had a personal experience with (if they even sell out). Compare this with a 1909 VDB S cent. Many more people than 20,000 have been able to have first hand experience with this cent. Its more "real" in the public mind than a coin initially issued only as an obscure commemorative that most people have never heard of (but who has not hear of the Lincoln Cent?). Also,only 20k people will ever have first hand experience with this commemorative - which also makes the market, overall, not very large. If masses and masses of people arn't even aware something exists, the market remains small. The initial offering price is also something prohibitive to a wide audience (but not unreasonable since its platinum). Hence the initial market demand is also small. It will be interesting to see if these all sell or not. |
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Bedrock of the Community
 United States
12839 Posts |
Pass for me.
I believe the 1st Pt offering from the US Mint was in 1997.... similar to AGEs, the APEs were 1/10, 1/4, 1/2 and 1 oz at the time. Unlike their Au counterparts, the Pt issues from the early 2000s are still under water from a precious metal perspective.
Not that matters one iota from a collector perspective. Just food for thought.
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Pillar of the Community
United States
1353 Posts |
Thank you all for the instructive feedback
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Pillar of the Community
United States
1375 Posts |
Household limit was lifted this afternoon, a sure sign of weak demand, but it does let volume sellers step in and order a truckload of them if they want to.
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Bedrock of the Community
13014 Posts |
Quote:
Household limit was lifted this afternoon, a sure sign of weak demand, but it does let volume sellers step in and order a truckload of them if they want to. If volume sellers wanted them they'd be sold out already. A HH limit has never stopped them from getting their share, all the limits have ever done is drive up the after market price on the very fast sell outs |
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Replies: 13 / Views: 1,801 |
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Posted 01/18/2018 7:35 pm
