10th Anniversary Platinum Eagle Coin Set Announcement
The US Mint has just officially announced details of the 10th Anniversary Platinum Eagle Coin Set. Many collectors have been eagerly awaiting this set as a follow up to last year's popular 20th Anniversary Gold and Silver Eagle Sets.
The sets will contain two coins- one proof coin and one reverse proof coin. The proof coin will feature frosted raised elements over a mirrored background. The reverse proof coin will feature mirrored raised elements over a frosted background.
Both coins will contain 1/2 ounce of platinum and carry the "W" mint mark. This is the first time the Mint has offered a platinum coin with the reverse proof finish.
The price per set will be $1,949.95. Production will be limited to 30,000 sets. Coins will go on sale December 13, 2007 at 12:00 Noon ET. Orders are limited to one per household.
Probably the most notable thing about this release is the relatively high mintage. For comparison, last year's 20th Anniversary Gold Eagle Set was limited to 20,000 sets and took several days to sell out. Platinum Eagle offerings have always been relatively less popular than Gold Eagle offerings, so the higher mintage is odd.
In my opinion this higher mintage will curtail some of the more speculative buying that contributed to the sell outs for last year's sets. Without a sell out, price appreciation for the set will likely take a much more measured pace on the secondary markets. Bottom line, buy the set if you collect Platinum Eagles or will enjoy the reverse proof coin. Don't necessarily expect immediate price appreciation.
Related:
10th Anniversary Platinum Set Release Date
Labels: Platinum Eagles
posted by Mint News Blog @ 11:26 AM
6 Comments:
I cannot believe the mint is so dumb as to set a virtually no-limit limit of 30,000 mintage on the Platinum Reverse proof. The new regime at the Mint layered on insult after the abuse by setting the purchase price at $1950. I expect they don't want to be caught with their pants around their ankles (again) in case the price of platinum rises. But by hitting their faithful customers with a double whammy, I for one will be staying far from this tainted product. Honestly, who has $2k for a set of coins that has nothing going for it? The regular proof is virtually worthless other than the bullion content, so the mint is asking you to pay > $1200 for the reverse proof.
Good luck selling this loser!
I agree a little but disagree more.
In looking at platinum past sells, I doubt the 30,000 will sell out. I'd guess 15,000 at most. One question is how long will this set be offered before the mint realizes it won't sell out and discontinues it--I'd guess June 08 at latest. If the final sells are at 15,000, eventually the value will increase quite a bit due to the reverse proof. In 1995 the mint made over 44,000 sets but omly sold just over 30,000...and look what happened to it. Another thing as far as price...the silver anniversary set was issued at $100 and thus the reverse proof cost $52 of that (100-28-20) So the reverse proof cost 185% of the regular proof 52/28. The mint sells the current regular $50 proof for $880, so the asking price for the reverse proof is $1070 or 121% (1070/880) of the reg. proof. So portionately, this is not out of line. So, my bottom line take is BE PATIENT, in time because of the reverse proof this will be a good value!! Just my thoughts anyway.
Good points. Sometimes I get caught up thinking about the immediate implications. Long term this set might have legs.
Michael, I was surprised to see a response so quickly. Thanks for your comments. Ya know I made a quick buck on the Gold Jeff. First Spouse coins--bought and sold unopend. Well not that much, but after fees about $150 for the set.
But again, we get too caught up in trying to make a quick buck. I was prepared to make another $100 on the Madison First Spouse until I saw the $100 per coin increase by the mint... But lets face it, all the Gold Spouse coins now sell for a little above fave value. My thoughts on the plaitum annv. is to first, wait and see what happens--I will have a set shipped 12/31/07, but I will just hold it for awile. I am a member of ANA so I can send it for grading, but I want to wait first...I sent 10 silver annv. sets for grading and unless you got 70's it wasn't worth it it. The raw sets, especially still in the mint packake sold for just as much. So I plan on keeping my set unopened until I see what is going on. The main decision I will have weather to keep it unopened or send it for grading. To be honest, I KNOW the reverse proof will will be sooo beautiful and I wish I could just keep it because of it's beauty instead of if I can make a dollar or two.. dang that's because I really am a collector of great coins and it upsets me that I have to look at these as a busisness decision of weather I can resell them for a profit insteaed of keeping them beacause they are sooo unique and beautiful. I mean the Mint may or may not ever again make another reverse proof. They probably will, at the next Anniversary, but again I wish I was in a position to obtain all the great coins, especially the gold reverse proof, but I am thankful for what I have!!
I just wanted to say the last comment was by stevieladeek and not annoyn. I look forward to your comments!! Thanks
Just trying to say the last comment was by stevieladekk.
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