Posted on 01/07/2011 10:30:17 PM PST by Jet Jaguar
For the second year in a row, the United States Mint did not offer platinum bullion coins for precious metals investors. Bullion products available from the US Mint during 2010 included only gold and silver coins.
The American Platinum Eagle was last available to the US Mint's network of authorized purchasers in November 2008 when the last 800 one-half ounce coins available had been sold. Immediately following the sell out, the Mint announced the delayed launch of 2009-dated bullion coins, including the Platinum Eagles.
Since that time, Platinum Eagle bullion coins have not been available in any format. When the coins were previously available, authorized purchasers were able to buy the coins from the Mint based on the market price of platinum plus a mark up of 4%, 6%, 10%, and 15% for one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce bullion coins.
Of the United States Mint's eleven authorized purchasers, five are approved to order platinum coins.
Collector versions of the American Platinum Eagle have been available for the past two years in limited quantities. The one ounce 2009 Proof Platinum Eagle went on sale December 3, 2009 and sold out of the maximum authorized mintage of 8,000 coins within a week.The coins were priced at $1,792 each.
The 2010 Proof Platinum Eagle was offered on August 12, 2010 with a maximum mintage of 10,000. Priced at $1,892 each, these coins also sold out in about a week.
Will the US Mint release 2011 Platinum Eagle bullion coins? Or will the coins fail to make an appearance for the third year in a row?
Goldbug Ping.
OK, I’m missing something here? Why the hell is this a pertinent story? Gee, instead of paying the mortgage I could have bought a frickin overpriced coin. Mother was right, I really am ordinary!
You are missing this. The US Mint is not producing the coin this year, nor last year.
People buy these things for a hedge against inflation.
The 2009 Silver Eagle was not easily available for purchase.
Do you think that if everyone tried to cash in their paper for metal the scammers could produce it?
Inflation is probably the least of our problems now. Buy guns, ammo, and gold if your serious. If you're really-really serious, you might want to invest in a couple of cases of MRE's (Meals Ready to Eat) cause if you can't eat it, trade it, or shoot at it; what the hell good is it?
I'm sorry. . . what?
Well, this article was apparently of no interest to you, but I'm sure that there are many FReepers who are quite liquid and interested in investing noble metals.
Regards,
I don’t believe their coins are that overpriced, when you compare them to other world mints.
I collect and purchase from the U.S. every year, and was disapointed that this coin was not available.
While the amount of gold, silver or platinum does not completely justify their price, these coins values seem to trend ahead of inflation.
How much of this is merely because of the extra demand for gold and silver coin, making the mint shift their production runs to those instead of platinum?
Sure, Obama will mint $1 trillion of platinum coins if the debt limit isn’t increased. They can legally coin any amount of coinage they want, Ace of Spades has a post about it.
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