At yesterday's coin show, I could not leave a 1/10 OZ platinum proof coin from 1997 (even though I had no intention of spending that much money; I wanted to save for Coinfest), as I rarely see these for sale. I ended up paying 205$ for a 1/10 OZ Proof coin (with box & COA) plus an uncirculated 2 coin Mt. Rushmore set (Dollar & Half), also with box & COA. How did I do? I have never bought platinum before (alone), but with the mint selling the Gold 1/10 OZ proof at 180$ (and platinum is more expensive), I figured I did OK. Please respond with your thoughts.
platinum is right now at $1704, so, subtract what you think the value of the proof is, and then you have a net value. that said: If you bought it for platinum value alone, it seems high at Friday's close of $1677, or $167.70 with a $37.30 premium = 22.24%
the $205 was including the Mt. Rushmore coins. So I figure I paid about 185 for the platinum, if the Mt. Rushmore is $20.
So I checked the US mint website. At between 1650 & 1750, if they were selling platinum proofs, they would sell 1/10th OZ coins for $237. http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/GoldCoinGrid.pdf Is that a normal markup? If it is, then I did very well. I guess my question is how do markups on platinum proofs compare to markups on gold proofs?
Platinum proofs are always in demand. You did well. Make sure you keep the box and COA with it. Platinum will be above $2000/oz again. It's a $225 coin easy.
