2007 10th Anniversery 2 Coin Platinum Eagle Set

I have been waiting for this set all year and now that they have announced it will be offered for sale with a mintage of 30,000. Its cost is nearly $500 over spot. For that kind of premium they all should grade PF 70. But most likely they won't. Do you think this reverse proof will appreciate as a single coin. For the most part there is not a large population of Proof platinum coins. Most of the people who purhase the set would never be able to make a complete set even if they have the money. If they only made 5000 or even 10,000 the decision to buy the set would be a no brainer. At 30,000 do you think it would be a good investment.

 

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hahhahaa this is fun i wonder if they will find 29999 idiots to sign up (dont worry about me i already signed up) i know its a mistake but they have me hooked

 

It may be a mistake but I, for one, won't be buying. I did buy a platinum -06W 1/4th oz last year both proof and uncirculated as well as the gold 3-piece set but that will have to do for now. Too rich for my budget. I would be very surprised if they sell all 30,000. That high mintage number might just be to scare off some of the sharks. When the offering ends and the sales nubers turn out to be relatively low then the set might appreciate nicely,but like I said I won't be one of the lucky holders of a reverse proof platinum coin.

 

Oh, and welcome to the forum Jim!:loud:

 

Thanks

Another thought of mine about this 2 coin Platinum Eagle set. The fact they making 30,000 sets, and the mint for the most part already limited the 1/2 oz Proof coin to 15,000. 5000 single and 10,000 in sets. They haven't specified that the design will be any different for the regular proof coin in the set. So how can the mint sell someone a product they stated was limited to 5000 and 10000: Then make 30,000 more. That would be like minting another 50,000 of each gold spouse coin at the end of the year and selling them in a set. While people purchased these coins on the premise that the mintage would be limited to a much lower number.

 

The Mint never stated *mintage* limits, but rather *sales option* limits. They will only sell X number of these coins in this fashion, but they may sell Y number in a different fashion. If people purchased them based on the mintage limits, then they should be reading more.

As for the sets, I suspect they will not sell out. There is little collector interest in these coins and 30K is a lot for the market to absorb. I suspect they will sell 15K-20K and they will not light the after market on fire.

 

I would not buy the coin as an investment. I would buy it because I have to have one to augment my collection. If the economy dives then platinum will go down. I am not an astute collector but believe what some of the posters say about recent precious metal coins, they are bullion.

 

I thought I would buy a few sets, have them colorized and sell them on QVC. Anyone think that's a good idea?

 

**** no unless you wish to lose money and ruin a perfectly good set

 

The gold reverse proof coin does'nt sell according to buillion prices!So i assume the platinum reverse coin will trade in the same manner, the mintage will effect prices more than the platinum price. In my opinion, time will tell. Theres been alot of changes annually to the proof's reverse. But this will probably be the one & only reverse proof platinum eagle. Even a NGC PF70 silver reverse proof has sold in the $550-$900 range. Why expect less from the platinum coin?

 

Make sure you offer two regular strike Sacagawea dollars(Both P & D), with the deal. That should start the buying frenzy!

 

I cancelled my order -just no excitement in 30,000 -but, like it was said before in this forum, the Mint is not out to make instant rareties -their out to sell coins......

 

There may not be investment excitement in 30,000, but for those of us collectors out there, there's certainly collectible excitement in the issue, despite the high mintage (and price tag...)...

At least the US Mint doesn't charge incredible markups for their products... The Perth Mint sells their Silver Lunar Proof Sets (3.5oz silver in three coins) for ~$230USD, almost 5 times Spot.

 

This reminds me of the stock market. No matter what happens people can explain it.

So which is it? Is it better for buyers of the set to have a sellout because that indicates high demand, or is it better for buyers if the mint doesn't sell out and the eventual mintage is less than 30,000?

 

Have been thinking about that very question myself ...

 

Amen dreamer, there are very few platinum collectors and the mintage is high, to use a cliche of supply side economics, there has to be a buyer. Since platinum is ten times more scarce than gold then it should be ten times the price but check the spots of both metals. People like the yellow metal better than the silver looking metal.

 

I will have to put myself into the foolish group who've purchased this set, my logic was that I have the other two first reverse proofs gold/silver and this would make the trifecta on the reverse proofs and therefor be a good deal. I understand that they will be selling the sets until they've exhausted the inventory so I imagine that they will be selling them well into 2010 as the total number of platinum 1/2 oz coins sold during 2007 would have normally only been about 3000 total.

 

Man that is what it is all about , collect what you like. I to have the reverse proof gold and silver and have been very tempted to get this Platinum set myself. Hope the mint will hurry up and sell out. I am not a strong person and feel I may yield to this temptation if these sets are available for to long. Oh the agony

 

Anyone know how many sets have sold ...and how did you find this out?? :")