American Eagle Platinum Proof coins will be on sale online tomorrow from the mint - 2010--To Establish Justice, On-Sale August 12, 2010 @ 12:00 noon (ET) Any thought on that?
What's to think about? That's the Mint's stated release date/time for the public to begin placing direct mail orders.
I don't have any thoughts on the potential of the issue, although Eric Jordan has recently published a nice new volume called Modern Commemorative Coins. I haven't read it yet, although I have a copy. The price of an ounce of platinum has drifted down the last few days, wonder if the Mint's policy will reduce the price a bit. And again, this is all just speculation as I don't follow the APEs at all.
I am raising this question because I heard somewhere that these coins can be very profitable due to the low mintage and other things, and they are expected to be sold out immediately. I don't really know much about these coins, but I'd like to know people's opinion regarding its investment potential.
Oh dear Nomad. Have fun collecting but investing in coins? We're talkin' big league here. Enjoy what you collect, but don't try to collect for profit. Puts a whole new "spin" on things. You be layin' down a sizable chunk of change on this one and I don't think it's ever gonna be worth more than "melt".
I will probably look for it on the secondary market in a few years, with the mint it is like 30% premium right off the bat. I like the design but there are lots of other coins that I like a bit more, if I run into one for close to melt I would be tempted to pick one up.
And NB that melt value right now is coming down, platinum is at $1514 or so this morning, its high during the last year (Aug-Aug) was about $1725 and its low $1210 according to Kitco.
American Proof Eagle (Platinum) The price will always be more than the AEPs in regular issue. The reverse this year is liberty with a blindfold over her eyes. If you check APMEX from time to time they will have proof issues in gold, silver and platinum. The question I asked at the ANA summer convention in Boston was whether they will be minting more AEG proofs this year and what will be the effect? I asked the mint workers and dealers in the know. They have confidentiality agreements with these productions, so no one can share insider knowledge without there being legal consequences. If you look at the mintages of the proof gold coins, you would have to doubt that another 50K AEG proofs in 2010 will have decisive long term consequences: http://goldeagleguide.com/mintages/ CW Trends editor has an article this week on how the anticipated production of the proof eagles is causing a price crash. Time will tell.
