1 oz. Platinum Proof Coin

Unfortunately I see the TV coin sellers jumping all over this one with their grading services in tow. I can alreadyhear them touting the "extreme rarity" of platinum to those not attuned to the market realities cited by others here.

 

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Of course not!, They wanna find some suckers as soon as they can.

 

I'm having trouble with the $1200 price tag as well.

 

Platinum is a strange choice for this coin, especially it seems to be an exception: A well designed, beautiful reverse. There have been so few beautiful coin design in recent years (excepting the old coin obverse designs being recirculated in new coins.). Shame this platinum is accompanied by a crappy obverse. The Liberty face on the front is hideous. They might benefit from fractionals to make the cost less of an issue

 

I agree Andrew. The Obverse is ugly. I'm wondering if this will be a good flipper?

 

As far as flipping goes, I hope that plenty of people try it and they all lose their behinds.

 

Get a life!

 

I got quite a nice life, thank you very much. I suggest yours might improve immeasurably with a dose of a good laxative.

 

People are already fighting over this coin and it hasn't been release yet! MUST BUY

 

I doubt it or the mint would make more. The thing is that they are struck so many times that they regularly get 70s; this makes this really easy to market to the non knowledgeable buyer. The actual collector market for platinum is pretty thin.

 

I think sometimes you need to stop and wonder about the mint's prospective. Platinum coins are very difficult to be sold at bullion prices due to the volatile price movement. It is likely mints hedge bets based on the historical price movement and they could have signed contracts when prices have been at the more expensive side. If you reckon it's overpriced, you are welcome to travel to a platinum mine and find an ore for yourself. At grades of 2 - 10 grams per metric tonne if not less, I am certain that you would realize that there's a lot more cost (with risk factor) involved more than you can ever imagine.

If you look at the history of palladium and platinum coins, most often, many world mints had to sell such coins barely at a profit, if not at a loss. However if you look at records of such coins, they are selling well above the original prices. Russian platinum ballerina series, Australian emu series, Chinese platinum and palladium panda series and so forth are good examples. Twenty years down the road, unless the prices of platinum collapse, I would be very surprised if they are traded for much less than the original price. The only time you may get a bargain is when someone is really desperate for money and is happy to sell at a loss.

I guess having a mint that strikes platinum coin is highly prestigious. Now if you look carefully at various mints around the world that strike platinum coins on a yearly basis - can you name some that do? I can only think of the Canadian Mint, Perth Mint (Australia), Royal Mint (UK), China Mint and US Mint. I am not considering Swiss Mint as it strikes bullion which is strictly not coins. Russia ended their platinum coinage in 1996. Essentially there's just a handful of mints in the world that still strike platinum coins.

While platinum coins are really on the expensive side, I reckon it's a status symbol. It's like trying to compare luxury cars when you can get from point A to point B in any other vehicles. Of course you can start discussing about design, fuel economy but it comes down to what one wants.

 

Yup. And since I drive a 1999 Accord, I guess I'm not the target audience.

 

Sold out in 5 minutes.. I grabbed one.

 

So, did anyone pick one up?

I did. I'm still deciding whether to hold it long term or flip it for a little cash on Ebay. It's a very pretty coin.

 

Wow!

 

Their website started crapping out with all the traffic to the site. I was lucky to be able to grab one myself.

 

With all the live action charts and financial quotes I have in my smart phone, I cannot find a platinum quote. Anybody got a figure?

 

No kidding? Who'd o' thunk?

 

http://www.finviz.com/futures_charts.ashx?p=d1&t=PL