1 oz. Platinum Proof Coin

Got an e-mail from Penn Metals Group. They told me that at 12:00 PM (ET) on June 30th the Mint was going to sell, one per household, the 2016 Platinum Eagle for $1350. If I bought it, they would pay me $100 over cost, plus send me a postage/insured sticker to place right over the Mint label so I could send it to them at no charge. I got on the net at 10:00 AM (MT) and ordered the coin without any trouble. I received confirmation from the mint that my ordered was confirmed and they were shipping the coin to me.

The coin, with a mintage of 10,000 (the 2015 had only 4,000) sold out in about an hour. I see it on eBay as a pre-sale for around $2,000. Now I don't know whether to take the $100 from Penn Metals or hold onto the coin. It sure kills my coin budget to keep it, but it looks like it has legs and could be a good one to have. The Mint did little or no advance advertising about the coin, I get their e-mails and never got one concerning this coin. Penn Metals e-mail was the only thing I heard about it.

 

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I think you're looking at asking prices, not prices at which people actually bought.

Checking sold listings, they're getting $1450 to $1650, with most in the range of $1500-1600.

If you sell at $1600, pay $160 in FVF, $46 in PayPal fees, and $30 for insured Registered Mail... you're clearing about $10 on the deal.

My gut feeling is that the people who wanted one but didn't get it are vastly outnumbered by the people who got one or more and are looking for the fast buck. I don't see this one climbing much in the near future.

 

The mint only sent one per address or credit card. A friend got the same e-mail and ordered one to be sent to his home, and using the same credit card and number one to be sent to his daughter's house. The Mint cancelled both orders. I don't know how people got more than one. The only possible way is to use a different address and ask that person to use their credit card/ debit card and pay them back. The 2015 is doing well on the secondary market (it's only going to be made for 2015 & 2016, but the 2015 had a mintage of only 4,000). It's like the Stock Market- "You pay your money and take your chance that you guessed right". I think the difficulty in getting more than one is why these companies offered the $100 over purchase price for the coin, if there was an easier way they would have used it and saved the $100 bucks. I've heard that the bigger companies have their employees order the coin from their home address and use their own credit/debit card. The larger the company, the more they can get into stock to sell.

Sometimes it takes time for the coin(s) to be worth buying. Look at the 2006 Silver Eagle Set, it's selling (not being offered) for $1000 for the three coin set in PR/MS70. That set had a mintage of 250,000 and the Mint sold it for $100. Now the 4 piece Kennedy Set is not doing well. Dealers are selling the raw set for the Mint issue price of $100, it has really tanked, but maybe in the future it will do better.

It still blows my mind that people are paying $4,000 to $5,000 for the 1994W Silver Eagle with a mintage of 32,000+. It's a bullion coin for God's sake, not even a collectable coin. I've said it before- Mintage, eye appeal and most of all, the perceived demand for a coin sets its price. Coin companies and coin shows can make a coin seem like a very good buy, but when people go to sell it to their friendly neighborhood coin store, they're in for a very unpleasant surprise.

There I go again, to long a post, sorry, I'll stop babbling now.

 

PR70 Is going for $1900. and a 69 for $1500-$1600

 

PCGS PR70DCAM presale from MCM for $1895

NGC PF70 UC presale from MCM for $1749

PCGS PR69DCAM presale from MCM for $1549

NGC PF69 UC presale from MCM for $1549

So, spend $100 or so to send in your single coin for early-release grading, and you might be able to fulfill a presale auction for a PR70. Or you might be $100 deeper underwater with a 69. At this stage, nobody knows whether 70s will dominate (in which case their premium will drop), or whether they'll be rare (in which case your chances of getting lucky are that much lower).

I decided it's not a game that I stand good odds of winning.

 

Coin Vault is on TV as I write this. They just offered the Platinum coin raw for $1,699 and NGC Early Releases for $1,899. They gave the impression they had them in stock, but it was obvious they were showing a rendition of the coin in an NGC slab (does the grading company give them to these companies or do they have their own graphics department?). I bet they sell a ton of them, I don't know why people don't bother to check to see what they are selling for elsewhere. Even eBay gives you an idea of the going price for a coin. Granted the prices are high right after a coin comes out, but wait a few days/weeks for it to settle down.

I'm a member of the ANA so I can submit to NGC directly without paying to be a "member", I going to wait and see if it's worth getting the coin graded. They have that $500 value limit where the cost of grading goes up. I tend to submit the more classic coins, not for the grade, but for the certification that's it's real and not counterfeit. I mentioned that in my post about my Athena/Owl coin.

 

The sale price are right the 5 I purchase are not to flip

 

Great Collections is offering to sell these with no added fees...not a bad price for a 70 grade proof $1850...$1450 for OGP. Ian also has the Gold Merc. for $299 in 70 first release

 

JUST RECEIVED MY 2016 Platinum coin. MY ORDER WAS PLACED AND CHECKED OUT THE FIRST MINUTE THE MINT STARTED ACCEPTING ORDERS.

 

No more Bill the Cat Avatar, my grandson drew a picture of me and I'm now using that now.

Got my 1 oz. $100 Platinum Coin in the mail yesterday (UPS-signature required) and it's even better looking than the pictures indicate. I'm glad I decided to keep it.

There's a rumor going around that the mint may release the 6,000 gold Mercury Dimes in tandem or at the same time as the gold Liberty Standing Quarter. If they do that I predict nothing but trouble and complaints.