2008-W Platinum Proofs
Replies to This Discussion
-
Permalink Reply by coinnetwork on -
And now the 1/10 oz. Proofs are on back order too.
Everyone has been very focused on the Uncirculated coins, but the Proof mintages look like they will end up around the same levels if not lower in some cases.
-
Permalink Reply by Platinum Fanatic on -
All plat proofs are backordered. Today was a very interesting day watching each item go backordered. There's something strange going on at the Mint. Even the Jackson spouse went b/o.
-
Permalink Reply by mqracing on -
I have my fingers crossed. I just ordered the four piece plat proof set. Is coming up in my order history as "shipping on Dec 24th". As I understand mint practices--- this does not mean that I definitely have this set. I already have two sets of the plat proofs that I ordered a month ago. And I'm debating on ordering yet another set today--- so that I would have two sets on backorder.
I'm feeling a bit of a risk--- I've essentially put all of my eggs in this one platinum basket. But when I consider that (my understanding) the mint will not be offering the fractional plats in 2009--- and I consider that the spot market price of platinum is 2/3rds off of it's high mark--- I see some room for growth. Much more upshot available than buying gold coins.
So I am still debating whether to put in a "bid" on the fourth set today---- and see if I can get one or two of the two backorders to actually fulfill itself.
do you guys think I'm assuming too much risk here?
MSL
-
Permalink Reply by coinnetwork on
-
Michael LaFevre said:
do you guys think I'm assuming too much risk here?
MSL
Personally, I think 2008 is going to shape up to be a pretty good year to have bought any US Mint gold and platinum products. A number of factors have come together to produce very limited production runs and quick sell outs. I've spread things around a bit more, but do have a lot of platinum. I think there will also be some rewarding non-precious metals US Mint products when the dust settles.
As of now, it looks like the 1 oz, 1/2 oz, and 1/4 oz individual Platinum Proofs are sold out.
-
Permalink Reply by Jeffrey Feldman on
-
I for one am really upset a the repricing of the Platinum anniversary set since I paid the higher price!
-
Permalink Reply by mqracing on
-
Just looked today and the four coin proof set is the only platinum line item not listed as unavailable (i.e., sold out).
All the fractionals and stand alone ouncers are now gone.
I have an order in for two sets and on the mint site (under order history) it's showing a ship date of 12/25 for the four
piece proof sets.
Maybe Santa will bring them--- though I do like Santa a whole lot more than Fedex :=)
MSL
-
Permalink Reply by mqracing on
-
About noon today I checked the mint's website---- and the last of the platinum eagles (four coin proof) are now gone. No more platinum to be had from the mint dated 2008.
And if I understand earlier posts and news releases--- the fractional platinums will not be offered in 2009--- but the one ounce coins in proof condition will be offered?
MSL
-
Permalink Reply by Al on
-
Jeffrey Feldman said:
I got caught in that mess also! I called the mint and complained, at a high level, but they won't refund the difference.I for one am really upset a the repricing of the Platinum anniversary set since I paid the higher price!
-
Permalink Reply by coinnetwork on
-
2008 Proof Platinum Eagle Sales figures through December 7th:
1 oz - 2,432
1/2 oz - 1,056
1/4 oz - 1,293
1/10 oz - 2,810
4 Coin Set - 2,296
Full post on Mint News Blog
-
Permalink Reply by mqracing on
-
I still have two sets of the platinum proofs on order and I check the status of the order online everyday. When I first ordered the mint was showing a ship date of 12/24. This date has been consistently slipping--- day by day--- as of today the ship date quoted is 12/29. I'm just hoping that they don't cancel my order after "stringing" me along.
MSL
-
Permalink Reply by mqracing on
-
mqracing said:>
I have an order in for two sets and on the mint site (under order history) it's showing a ship date of 12/25 for the four
piece proof sets.
Maybe Santa will bring them--- though I do like Santa a whole lot more than Fedex :=)
MSL
I'm depressed... defeated. Just checked my order status online at the mint site... and they have cancelled both of my orders for the four piece proof plat sets. Had my order in on Dec 9th... right before the first warning signs came up that these were selling out. They're gone.
bummin'
msl
-
Permalink Reply by mqracing on
-
Hi Simon:
After the initial disappointment I'm not so upset. I did manage to get two sets of the 4 pc platinum proofs and I rarely if ever buy more than two of any coin or set. I've been buying commemoratives and silver eagles and the like since the early nineties---- and usually only get items (or sets) that I genuinely like as "artwork" or as representing some period or epoch of history that moves me--- so that I don't often buy on the basis of or use my purchases as a cold and impartial investment. Your post also reminds me that buying as a consumer of lovely "art work" rather than as an investor is where I've had the most fun and non-financial rewards in collecting what few pieces I do have.
Re: the 08 plats--- I was going to go double my normal buy--- because long term I am bullish on platinum and the second factor was that 08 is the end of the line for the fractional sized plats. But I will be very happy with the two sets that I do have.
And I'm debating long and hard on getting maybe one or two sets of the 10th anniversary (2007) platinum eagle sets. There is another thread on the coinnet forums addressing the pro's and con's of this set.
In the meantime, last evening--- to psyche myself--- I did get a few coins from the Perth Amboy mint--- including the 1kg silver proof lunar ox (2009). Can't wait to get that beauty in my hands :=) It's a giant--- by memory it's 100 mm in dia and something like 15 mm thick. Should have some noticeable heft.
I've read several posts from buyers who bought the plat sets when they were commanding BIG BIG bucks--- and I too would have been bummed with the tumbles in the marketplace values of platinum. And it's easier as a monday morning quarterback to say--- I never buy on peaks or anytime the price of a material is X percentage higher than what's it's done in the marketplace over a much longer period of time. The peakier platinum pricing scared me off and I did not think it was sustainable-- I read silver the same way (going up toward $20 an ounce was not sustainable in my view). None-the-less hold on to and enjoy your sets--- if you have kids they are great pieces to pass on and are, I believe, timeless in their aesthetic beauty.
MSL
© 2012 Created by coinnetwork.
