Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, December 9, 2008

2008 Proof Platinum Eagles Selling Out Fast

When I posted about the sold out Gold Buffalo coins yesterday, I predicted that the next likely candidates for sell outs would be the 2008 Proof Platinum Eagles.

Only one day later, all 2008 proof offerings are either sold out or on backorder. In the recent past, backorder status for gold and platinum products has been closely followed by an official sell out.

The sold out coins include:
2008 Proof Platinum Eagle - Individual One Ounce
2008 Proof Platinum Eagle - Individual One-Half Ounce
2008 Proof Platinum Eagle - Individual One-Quarter Ounce

The backordered coins include:
2008 Proof Platinum Eagle - Individual One-Tenth Ounce
2008 Proof Platinum Eagle - 4 Coin Set

The furious pace of sell outs suggests two things:

1.) Collectors see 2008 as having the potential to produce future key date coins, and they are not delaying in placing large orders. A number of factors have come together to make 2008 a year for low mintage coins. The announcement that many products would be discontinued in 2009 has also played a part in creating a unique allure and urgency to buy the coins.

2.) US Mint inventory levels were incredibly low. When the Platinum Eagles returned a few months ago, I speculated that the US Mint might be selling the limited remaining inventory from their last production run. It looks like this was not far from the mark. Is this also true for remaining products such as the 2008-W Uncirculated and Proof Gold Eagles or the 2008-W Uncirculated Silver Eagles?

At this point, I think the remaining 2008 Proof Platinum Eagle options will soon officially sell out. After that, there might be a brief lull before the remaining 2008 Gold and Silver Eagles start to sell out, but once the first ordering options start to disappear, the rest will quickly follow.

A discussion thread in the US Coin Forum recently started asking the question: Will 2008 Platinum Proofs become the new king? Share your opinion on Coin Network!



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