2009 Proof Platinum Eagle on Waiting List Status
By yesterday afternoon, the United States Mint had received enough orders for the 2009 Proof Platinum Eagle to meet the maximum mintage limit of 8,000 coins. The products still remain available for ordering on a waiting list basis.
Customers who place orders now will go onto a waiting list. If coins become available due to order cancellations, then orders will be fulfilled from the waiting list on a first-in, first-served basis.
The 2009 Proof Platinum Eagle first went on sale December 3, 2009. By December 6, the US Mint had received orders for 7,207 coins, suggesting a sell out was close at hand.
The coins were priced at $1,792 based on an average platinum value from $1,450 to $1,549.99 per ounce. Platinum has since taken a turn lower and is currently trading around $1,415 per ounce.
The sell out has yet to spark any immediate secondary market appreciation for the coins. At the time of writing this post, there were ten 2009 Proof Platinum Eagles listed on eBay with opening bids from $2,085 to $3,000. None of the auctions had attracted a bid. View the current eBay auctions here.
I believe that the 2009 Proof Platinum Eagle represents the fastest sell out ever for a US Mint platinum coin. Typically, the coins offered much earlier in the year and remain available for several months, sometimes into the following calendar year. As I have mentioned another post, a big contributor to the quick sell out is the lack of other options available to collectors this year.
During 2008, the US Mint had offered a ten separate collectible Gold Eagles products, ten collectible Platinum Eagles products, three products including collectible Silver Eagles, and twelve products including Gold Buffalo coins. A combination of product discontinuations and cancellations whittled these product lines down to just two options for this year: the one ounce 2009 Proof Platinum Eagle and the one ounce 2009 Proof Gold Buffalo. The Proof Gold Buffalo still remains available for sale, and has recorded sales of 40,233 coins as of the last weekly reporting period.
Labels: Platinum Eagles
posted by Mint News Blog @ 7:41 AM
70 Comments:
I've got a feeling the waiting list will work out for a LOT of would-be buyers, as the eBay flippers realize that there is no real short-term profit to be made on that coin. When they cancel their orders, the waiting list people will win.
Heck, I might even order one on the waiting list next week if the price drops to $1,692!
Don't get too smug, 9:13 poster. I think a lot of COLLECTORS order multiple coins, select the cleanest of the lot for grading, and return the less than perfect. Yes, you may do better on the commodity pricing, but unlikely will do well numismatically by sitting on the waiting list for a "recycled" coin.
I've received a few recycles in the past. Annoying!
Has anyone's order been shipped yet?
I bought one after reading Michaels published numbers a few days before the end of the offering. The mintage of 8000 seems to be about the mintage of a first spouse and I wonder if a survey would turn out the same (1/3 small premiums over spot, 1/3 big premiums over spot, 1/3 only about spot). If so, with Platinum in the low $1400s we really have a 50:50 shot of doing well with it.
Personally, I doubt any large profits will be found in the NEAR future for the Plat Eagle. Interestingly, the Jefferson Gold Liberty can be found for small premiums on e-bay, but the Jackson and Van Buren's already seem to have a substantial premium. I actually like the look of the Jefferson Proof the best of all.
Regarding Michaels blog on the First Spouse Mintages on Nov.20, it seems like the Robinson Gold actually had a higher mintage than some Spouse UNC golds and half the gold!
I just wonder if the P09 proof set is going to be declared "sold out" in a few days. I've noticed that it is a "feature item" quite a lot now when opening the Mint's online catalog, and it was about this time last year with similar sales numbers that the P08 set sold out.
Another pre-Christmas sell out would go down really good right about now! I could probably recoup my losses from the John Tyler and James K. Polk rolls I shouldn't have bought!
The sell out in record time for a plat product makes me laugh--- what with all the right wing haters diffing this coin.
I had two on order... but cancelled just simply because I could not afford these guys at this time. I'll regret it.
I have very little doubt that a year from now you will not be able to touch a PF-70 for less than $2500 and I really think they will command 3K and up.
Good for you guys who ordered.
My butt is going to be sore from me kicking it....
Recently received Van Burens uncirculated Liberty. Beautiful classic coin! 10x nicer than the mint photos.
I thought the UNC Van B. may be a sleeper due to the low mintage and I agree with 12:28, after recieving my first and only UNC Van B. (for my personal collection, not for sale!) agree that is looks like a classic!
The Van Buren Liberty coins ARE very nice to look at, especially the proof. Both should do very well in the future. I bought two of each early on, the first pair when the price was $549.95 for a proof and $524.95 for an uncirculated, and the second a couple of months later when the prices were $579 and $566.
Platinum Eagle have zero bids on e-bay. I bought mine to keep so it doesn't matter. Kind of like living in my house for a long time and watching real estate go up and down. Interesting, but I bought my house to live it!
BTW, eleven '09 4 headed diversity platinums on Ebay. Bids; not.
Record time???? Over a week to sell 8000 coins is record time??? I suppose if you were comparing it to other lame, ugly, offensive coins, that would be a new record.
Heck, I think the Braille coins did better than that.
Speaking of Braille, the coins go off-sale in about 20 minutes from the time of this writing! Better go get them now if you've put it off!
Two new things of interest to note on the direct ship program. The presidents are all listed as "sold out" now, and the Native American dollars are back. The Mint has reworded the description to put special emphasis on "the program's intended purpose." They have words in red that read "By clicking add to cart, I agree that I understand, and will comply with, the intended purpose of this program."
About the Liberty spouses. Jefferson is probably tracking lower than the others because it sold out at the maximum mintage(most likely due to speculators). It will take some time for them to appreciate. The next Liberty may suffer the same fate. There might actually be a feeding frenzy for those when they become available (same reason, speculators).
I still feel that the Platinums will not amount to much. Platinum is a non-traditional coin metal. I am sure that most collectors prefer gold, silver, copper and good ol' coprunickel. Maybe if they had used a more traditional design like say the Morgan or Peace Liberty, the series would have attracted a larger following.
I doubt there will be much of a rush on the Buchanan's Liberty coins next year. No one really seemed to flock to the Van Buren's Liberty coins after Jackson's Liberty started performing pretty well after sell-out.
Liberty spouses next year might do pretty well if there are no other 2010 gold coin options...
2010: UHR gone, AGE a big maybe, buffalo proof... probably but for the last 2 months only!?
A secondary market price of $2,000 to $3,000 is a poor return on investment.
Cost of the 2009 proof platinum eagle was $1700+. A secondary market value of $2K - $3K represents LESS THAN A 50% Return on Investment. Not worth the $1700 one would have to pay for the coin.
A better investment would have been say, the US Mint's Lincoln Birthplace rolls. A $9 investment would have lead to a $90 secondary market sale (at one time). That's a 10X Return on Investment.
Think wisely before if you choose to invest (rather than just collect for the pleasure).
Is it true thay the mint is only going to offer one more batch of 2009 fractional gold eagles? I heard they will be sold this monday by allocation and never again.
The fact that an $1800 coin-- struck in platinum, no less-- sold out in less than a week tells me the dealers, speculators and flippers ordered the 5-coin limit for the purposes of next stop: eBay and buy it now for $2250; $2750 for the first-strike label on a perfect example, entombed in plastic. The mint should have set the limit at one coin per person but they probably wanted to make sure they didn't have to deal with this on the books into 2010.
Not bitter or anything: if you bought one I hope you do well, but for the money there are so many other coins I would rather buy both for enjoyment as well as future appreciation ... the recent dip in gold means it's time to load up on that, for one ... we all know that platinum is a proxy for gold and will also go up but I'd rather hedge on gold and silver right now, unless the auto industry does the greatest act of rising from the dead since Lazarus.
I blame the CFA - the mint had some decent alternate designs but the hacks di-in't care, they're not going to buy any stinkin' commemorative coin - they picked the least appealing design based on politics not art which they should be considering ... I passed on this one too but will revisit the series when and if the CFA gets its act together to issue an actual appealing coin.
In other words: could be a while.
Anyone notice that those advocating the purchase of gold have now become silent?
As I (and several of us) have been saying for days, there is a huge gold bubble. It's starting to deflate.
Now aren't you glad that you heeded the warnings we gave to you? If you bought gold at its peak, you would have lost more than $100.
Do you expect something to just go up forever, I hope it drops to $1000 and I will gladly stock up on more coins. It is amazing that people on this blog dog gold and silver!!!
Now back to coins, I hope we will be getting some good news from the mint with regards to the 2010 calender, if not I see the 08 coins going even higher. I was really looking forward to the Palladium UHR.
LOL... gold goes down for the first time in weeks and "the bubble is bursting"... put the crack pipe down! There are always corrections, but the price of gold will head back higher than ever after the end of the year. Now is a great time to buy.
The dollars temporary resurgence will die and commodities will skyrocket even higher after christmas... just cuz they are temporarily falling for a week after months of going up doesn't mean the bull market died, it's just catching its breathe.
THANK YOU (bows respectfully to the one who posted on December 11, 2009 8:44 PM)!
H
Thank you twice. I am an immigrant from India (now a US Citizen) who absolutely loves collecting US coins. I have a nice set of ASE, some AGE, and always get the mint proof and uncirculated sets. Cheers!
Is there a coin site you can recommend for those who enjoy collecting coins, rather than making money from coins?
Check out Coin Update.
Also, this site is not about making money from coins. It's covers news about the US Mint and their product releases.
Isn't numismatics a really great hobby for all; from the penny collectors to the flippers. There is something for everyone no matter what your background or tastes. Sure we can disagree and strongly in some cases but right now there is enough selection of coins for everyone to find what they like. eg. I think the platinums are a waste of mint resources. Others think it is a great coin. I like gold buffaloes others think that is a gold bugs coin. But don't forget the history door that numismatics opens. Whatever you collect look into the history behind the coin you collect as well as coins you are interested in. If you are new to the USA numismatics can be a great history lesson. The Mint site has some historical information if you dig but also there is a plethora (is that really a word?) of other sources on the internet.
In response to some of the questions:
"Is it true that the mint is only going to offer one more batch of 2009 fractional gold eagles?"
Here's the last available info: The inventory of fractional 2009 American Gold Eagle bullion coins has been depleted for 1/10 ounce coins and is limited for the 1/2 and 1/4 ounce coins. The remaining coins will be offered for sale under the US Mint's allocation process with additional inventory available by mid-December. The previously suspended one ounce coins are also expected to be available in mid-December by allocation.
"Record time???? "
Yes. As the post stated I believe this is the fastest sell out for a US Mint platinum coin.
"eBay flippers" and related comments.
In my opinion, I don't think a lot of people purchased the coin for this purpose. Rather, I think the majority of coins were ordered by actual collectors.
This could be supported by the relatively small number of coins listed on eBay, right now only 10. By the time the Lincoln C+C Set had sold out more than 200 sets were listed on eBay.
Also, this coin had some aspects that would make it unappealing to flippers. It had a high price tag requiring a big capital commitment. The maximum mintage was almost double last year's level, limiting the possibility for a flashy new key date or low mintage coin.
As I have written, I think the 8,000 sold out relatively quickly because some collectors purchased this coin in lieu of the collectible Gold and Silver Eagles that were canceled.
If most of the 8,000 mintage is held by collectors who do not have the intention to resell in the short term, this will make for more stable prices and better long term prospects.
Speaking of Lincoln C+C set, the Lincoln metal that Michael said he was also ordering was received in the mail today. 3 inch right? That's got some weight. However, it does enhance the Lincoln C+C set.
Called the mint as my plat 1 oz order was on backorder and my credit card on file expires Jan 2010, so I was concerned about the time to ship...when I called the mint said I was a longtime customer, only ordered for myself, and I wanted to ask about the status of my order - they told me to ignore the message the mint gives me online, that their screen was different, that not only was my order confirmed but I would receive it this week, guaranteed before xmas, prob on the 17th (standard $4.95 shipping)....just thought the whole conversation was interesting
Diversity Dave here.
Welcoming non-white male numasmatists can only serve to adding to the "demand" part of the equation. If you can get your minority and female friends interested in coin collecting only good things can happen!
The timing of the coin's release helped the Mint make an extra $800,000 on those coins. Just days before, they would have been priced at $1,692 instead of $1,792. It also appears the price will drop to $1,692 next week, if the waiting list is not taken down before then!
The United States Mint is proud to offer the public the opportunity to own a beautiful 2009 Ultra High Relief Double Eagle Gold Coin for $1539.00. This one-ounce, 24-karat gold coin that we are ripping you off with is a triumph in coin design representing the culmination - more than a century in the making - of a partnership between a renowned artist, Augustus Saint-Gaudens, and a visionary leader, President Theodore Roosevelt.And the misguided directions of Mr Moy. The coin, is a digitally reproduced version of Saint-Gaudens’ original ultra high relief 1907 Double Eagle gold piece, which was never released into this kind of ripoff can be yours if your stupid enough to pay $424.00 over spot value of gold.We will even make sure we sell more of them then we promised from the start so you are sure to lose your butt.
Sorry folks.But I had to do that.
ROFLMAO
You know the UHR will be worth a lot in the years to come... it's only the highest minted collectible gold coin ever produced by the mint!
I will sure pay a lot for one, cuz there are only 120,000 of them! So rare! Especially considering every other 1 oz gold coin has a mintage of like 30,000!
most recent sale on ebay of the UHR
http://cgi.ebay.com/2009-Ultra-High-Relief-UHR-Double-Eagle-20-Gold-1-oz_W0QQitemZ220519956759QQcmdZViewItemQQptZCoins_Bullion?hash=item3358038117
Don't forget to mention the real 1907 UHR was a double eagle diam with lettered edge while the 2009 version is only a 1/2 ounce diam. Not sure about the nonsense that the diam couldn't be any bigger! The Buff clearly is the mac daddy of 09!
Interesting.....There are some Spouse Liberty types ebay auctions with lower bids than I've seen for a while. I wonder if the falling gold prices are spooking people? You'd think real numismatists would pay the most attention to mintages and the like but who knows? I wonder what the robinson has done with the ups and downs of gold lately?
Do you think that the US Mint's gold and platinum coins will hold their current secondary market values when their respective bubbles pop?
Response to Anonymous said, December 13, 2009 5:42 AM.
Right now, speculators are in a buying frenzy. Anything that is associated with gold and precious metals are being purchased without thinking about the consequences of future market values.
I agree - prices of the Jackson spouse proof have actually dropped with from the $900 level to now, the high $700s. This drop parallels the recent drop in gold price.
Coincidence? You be the judge. Will we see the same parallel in the future when demand for gold drops? You decide.
What about those of us who bought the UHR Double Eagle at $1189?? Are these worth something? It's worth it if people pay it.....
This is for all you "bubble" people out there. Remember the financial wizards on tv especially CNBC and CNS who never saw a housing bubble coming and they are the ones now loudly proclaiming a gold bubble. The only bubble they are seeing is the one in their beer. I am not advocating buying PM collectable coins but stuff always goes up and then down before it goes up again. You make your own call.
We all should collect coins to enjoy as a hobby. If the price appreciates, so much the better. If not, just enjoy the coins. Just by looking at your collection once in a while makes it all worthwhile. Of course I am collecting coins to pass that to the future generation. I still look at my "Carson City" Morgan dollar and enjoy it, after 30+ yrs now? I may be better off putting the money in the bank.
Enjoy your coins.
Got WAY outbid for a van b libery on ebay. Guess there still is a lot of interest.
Anonymous said...at December 13, 2009 8:30 AM
Secondary market values for the gold spouse coins appears to be based on the current price of gold PLUS a markup (based on demand, quality of the coin, etc.).
Thus, when gold values go up, the coin's value will go up as well. When gold values go down, expect secondary market values to go down as well.
Take it from one who saw what happened after the gold bubble burst in 1980....
Don't post spam messages here!
Second time today this spammer is messing with our blog. Any way to spam the spammer?
Is this a real spammer or someone messin around?
Someone messin around.
The website link doesn't even work.
I don't find it amusing at all. This is a coin site, period!
The only bubble I fear is the loud pop of the dollar as it crashes to the ground and those not holding gold and silver will come begging at my door. At that time I will buy farmland with my UHR from the bank and the homes of those holding cash while waiting for the 80's price of gold.
Hi Michael, I think your blog should be controlled to avoid annoying spams. What about having the guy register first or using only valid email address. Thank you.
Wow! Farmland for an UHR? You'll be lucky to get a loaf of bread for that.
Removed the spam comments. Sorry for the interruption they created.
I try to take these down as soon as they pop up, but I am not always online. No matter what controls are in place, some will always sneak through and require manual removal.
Well, it looks like the Mint isn't taking any more orders for the Platinum Eagle. So, those who were waiting for the price to drop is out of luck. As for those people who only had bad things to say about the coin, I never could understand why they felt that way about the coin. If you don't like it, don't buy it and stop trying to hope that those who did buy it will lose money on it; that's just pathetic.
Just curious,I ordered 3 platinums on 12/11 at 9:27 pm about 8 hours after they were wait listed my order number was 336187XX. Does anyone else have any wait listed order numbers they would like to share and the time of purchase?
At least those who bought the platinum proof coin this year should have security that there will BE a platinum proof coin for at least the next 5 years. Logic would dictate the Mint will finish the intended 6 year series of reverses based on the Preamble!
I bought the coin because it will keep me looking for the next 5 yrs.
I have committed myself to buy more in the coming years.
Question is how much the coins will cost then, how much they will cost me in total and how much they are going to be worth.
well I'm still glad I did not buy one. 8,000 is still a pretty high mintage for the plat proofs. I want my 2008 burn uncir plat set :)
Just received my 2009 PE.
Beautiful.
Lets see...after the sellout, these fetch $2100 on ebay...take away $146 in ebay/Paypal fees nets you about $157. That comes out to the profit from about 8 Zhu Zhu hamsters (original cost of $64 + tax). I would sy the hamsters win, and are more pleasing to look at.
Those who bought the 2009 proof platinum eagle are in for a big surprise in the future when the precious metal market weakens.
POP!
And the value of the coin, based primarily on its bullion content, will go down, down, down, down....
Don't be envious to those blessed and lucky few. I am sure they work hard for their money too so they can afford the coins. The ill wishes that are "popping" here are an obvious evidence that some of us are not so blessed. May God bless us all so we all can be happier.
I ordered an 09 plat late into the first day. Upon coming back to reality I found I should not afford it and cancelled two days later. Upon seeing Michaels blog with over 7200 sold on Dec. 8 I decided to order another. My order was backordered with a ship date of Dec. 23rd then 24tth 25 th, now it is like the 29th!!order #335xxxxx
The 2009 Platinum Proof Obverse is a perversion of the Preamble of the Constitution.
Diversity of a person's skin color is a socialistic idea and is disgusting and degrading the USA and FREEDOM.
REMEMBER TO JUDGE A PERSON BY THE CONTENT OF THEIR CHARACTER AND NOT THE COLOR OF THEIR SKIN!
I must confess to leaving less than flattering posts about some of the U.S. Mint's and Director Moy's decisions this year. However, my platinum Eagle arrived today and absolutely blew me away.
Spending almost $2K for a coin was no fun, but this coin and, especially its presentation, are stunning.
I routinely send early releases out for grading, but it would be wrong to separate this magnificent set.
For those of us who collect for the sheer joy of the hobby, the first coin of the Platinum Preamble Series is a rare treat.
I hereby apologize to Mr. Moy and the U.S. Mint for being critical earlier this year. With the Augustus Saint-Gaudens UHR and now the '09 Platinum Eagle in my collection, any missteps during 2009 are forgiven and forgotten.
Congrats to the Mint for giving us these two magnificent coins this year.
I posted the blog on December 14, 2009 2:34 PM and would like to say that my 3 plat's arrived today. So anyone who ordered within the first 8 hours of waitlist status should be ok on their order. I would also like to add that these coins are really beautiful when you can see them in person. I also was not happy with the design at first, but once the coin arrived I was very surprised on how good looking the coin really is. the presentation is also very unique for the eagle series. In my opinion this coin will be a long term winner.
I agree with those who appreciate the beauty of the coin. It is difficult to not like it. I think it is the most beautiful coin of the year. (although it is also the most expensive).
You must have it in your hands to truly appreciate what a magnificent and beautiful coin it is.
If you missed it, buy it on eBay while the price is still relative cheap. I am very sure this coin will be a winner.
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