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2013 AE Platinum Proof Sell Out

Discussion in 'PM's - Coins - Numis - Base Metals' started by b_cahill, Mar 12, 2014.



  1. savvydon

    savvydon Gold Member Gold Chaser

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    I had feelers out for three or four but only one came through. I have been collecting the proof series for years (I actually sold them all when platinum was $2200/oz and then started purchasing again when it fell to about $1500/oz). At this point I wouldn't let someone pry my lone example out of my hands for multiples of what it is going for. The mintage of 4,000 makes for an undeniable key in what is now a series going on twenty years. I do, however, find it amazing that if I was lucky enough to get two then the extra would likely have paid for both of them within weeks - amazing!
     
    hernancortes likes this.
  2. b_cahill

    b_cahill Seeker Seeker

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    The latest mint report shows sales of 3,904.
     
  3. MrLucky

    MrLucky Silver Member Silver Miner

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    If you watch the completed auctions on eBay, only the raw & the 70's are selling. The 69's are not (at least when I checked). Even opened box raw are selling.
     
  4. savvydon

    savvydon Gold Member Gold Chaser

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    Can't find the 2015 proof Plat on the US Mint web site. 2014 is still there saying sold out. Wonder what the deal is with 2015...
     
  5. howellzin

    howellzin Silver Member Silver Miner

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    2016 Platinum Proof coin scheduled to be out on June 30 . . . mintage limit 10,000.

    Screen Shot 2016-06-15 at 10.34.58 AM.png
     
  6. howellzin

    howellzin Silver Member Silver Miner

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    June 10, 2016 by Coin Update
    http://news.coinupdate.com/mintage-limit-for-2016-platinum-proof-coin-set-at-10000-coins/

    Michael White of the U.S. Mint’s Office of Corporate Communications has confirmed that the mintage limit for 2016 American Eagle One-Ounce Platinum Proof Coin has been set at 10,000 units, more than twice the limit established for last year’s issue, which was set at 4,000 coins. The final mintage for the 2015 Platinum Eagle came to 3,881 pieces.

    Despite the fact that last year’s issue effectively sold out in 10 minutes, the significantly larger mintage awarded to the 2016 Platinum Eagle comes as a bit of a surprise. Production totals for coins in this series have consistently fallen in recent years, from 5,745 sold in 2013, to 4,596 sold in 2014, to 3,881 in 2015. The Mint also had difficulty procuring platinum planchets last year, which postponed the launch of the 2015 issue.
     
  7. hernancortes

    hernancortes Gold Member Gold Chaser

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    As this thread documents the sellout was actually more like 4 minutes.
     
  8. savvydon

    savvydon Gold Member Gold Chaser

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    50/50 chance of a first day sell out on the wings of last year's hype. Don't think we will see a huge aftermarket price spike due to the higher mintage limit. On the plus side platinum is a pretty cheap now.
     
  9. hernancortes

    hernancortes Gold Member Gold Chaser

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    Mint news blog reporting the 2016 sold out in less than an hour.
     
  10. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Yeah I know. I was made aware of their existence around 11:45, jumped on and bought one at 12:01, bought a second one a few minutes later, tried for a third but the site got smart to me...

    And then a few hours later, I get a cancellation email for the second one. No winning with this one.
     
  11. Foxwoods Man

    Foxwoods Man Silver Member Silver Miner

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    One per HH I guess means "one"
     
  12. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    I know, I'm just shocked the second order initially went through and stuck for a few hours.
     
  13. Dude

    Dude Midas Member Midas Member

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    I talked to them today. They cancelled my second order. Different address. Son's name. Different credit card. Same billing address. Everything has to be different now.
     
  14. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Damn, I was thinking "shit, I should have used my parents address..." Nah, they would have caught it.
     
  15. Dude

    Dude Midas Member Midas Member

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    My method worked for the gold merc dimes. I will be changing one credit card so the billing address is different and also making it paperless so no bills get mailed as I pay online anyway.
     
  16. savvydon

    savvydon Gold Member Gold Chaser

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    Sell out occurred because the dealers are paying people to buy. I know of at lest a couple of dealers who got 100-200+ orders. The create a market of scarcity then profit off the hype.
     
    Scorpio likes this.
  17. howellzin

    howellzin Silver Member Silver Miner

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    US Mint sales reports show a few hundred have been returned.

    2016 AM EAGLE PLATINUM PROOF 1 OZ 9,285 (7/31)
    2016 AM EAGLE PLATINUM PROOF 1 OZ 9,287 (7/24)
    2016 AM EAGLE PLATINUM PROOF 1 OZ 9,452 (7/17)
    2016 AM EAGLE PLATINUM PROOF 1 OZ 9,618 (7/10)
    2016 AM EAGLE PLATINUM PROOF 1 OZ
    9,810 (7/3)




     
  18. savvydon

    savvydon Gold Member Gold Chaser

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    One would think the mint will want to put the remainder back on sale...
     
  19. howellzin

    howellzin Silver Member Silver Miner

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    The Mint website shows "currently unavailable" with a $1550 price tag.
    (Price at release was $1350, if I remember correctly.)
    Wonder how many they'd sell if they put the returns back up for grabs.
     
    HistoryStudent likes this.
  20. savvydon

    savvydon Gold Member Gold Chaser

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    I bet they would sell briskly, but not in the twinkle of an eye. The coins are costlier now and the 'Early Releases' designation has expired at the third party grading services, so it is likely dealers wouldn't be as aggressive. Still, it would be nice to give those who didn't have a crack at it initially the chance to buy direct from the mint.
     
  21. HistoryStudent

    HistoryStudent Midas Member Midas Member

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    On any precious metal shortages for ANY reason :

    First they deny it could ever happen, and scoff.

    Then they admit it might happen, and mock.

    Finally, they demand that it happen--and attack.
     
  22. southfork

    southfork Mother Lode Found Mother Lode

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    Im quite sure the returns are grader rejects and flawed.
     
  23. savvydon

    savvydon Gold Member Gold Chaser

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    Not sure. The Mint gives someone seven days to make a return, generally too quick to send them off and get them graded first. It might be that some of them were rejects. The other thing might be orders that proved to not pass the mint's 'one order per customer' litmus test.
     
  24. Starter

    Starter Silver Member Silver Miner

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    Here are last week's numbers:

    Unlike the prior two years, the 2017 coin did not get a first-day sellout.

    Personally, I think the price tag of $1,300 is very high given today's spot value of $925, which is at a 40% premium over spot, nearly twice the premium ratio for typical gold coins sold at the Mint.

    I also took a quick look at raw coin sales of prior year issues on eBay, and they were not very impressive.
     
  25. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    $1300? Yesterday, MCM was selling them for 1199... and if you paid with a check or echeck option, and additional $35 off the top.

    Either way, the design is identical to the 1997 proof, and all the business strikes, what's the big idea?
     
  26. Starter

    Starter Silver Member Silver Miner

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    The Mint price is $1300. I did not see the "discounted" price at MCM, which I think is still too high.

    Anyway, I agree that the coin is overpriced, and I have already moved on to look elsewhere for other coins.

    See you next year!
     

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