Excellent! I discovered this fact not more than 20 minutes ago but Coin News beat me to the punch.
Platinum closed in NY today at $1585-$1592 an ounce (at least that’s what Kitco reported). However, what is more interesting is how volatile was the market. The low was 1566 and the high was 1643. Of course that could all change when the overseas markets open in a few minutes.
Perhaps after all the Mint will do the right thing. That would be a good step for them!
Nice scoop. It will be interesting to see how the Mint handles a price reduction (if that’s what is taking place). This might be upsetting for anyone who bought the coins for high premiums over the last few weeks.
That would be bad news for those who might’ve purchased at the higher prices. However, we as collectors are used to playing that game when buying bullion related products. We won’t be able to win every time. Plus when sales were suspended at the beginning on July, Coin World reported that very, very few had been sold despite them having been available for many weeks. I am sure that the number of people who bought them in this time period is even smaller.
But I’m pretty sure they would have to come back. The Mint has sunk a good amount of money in making the dies for these coins (pun intended). Also, aren’t they required by law to have them on sale until a sell out or the next year’s issue is released? I’m not sure they can just stop selling something because they want to. But I don’t have hard evidence of this.
August 6th, 2008 at 3:55 pm
Excellent! I discovered this fact not more than 20 minutes ago but Coin News beat me to the punch.
Platinum closed in NY today at $1585-$1592 an ounce (at least that’s what Kitco reported). However, what is more interesting is how volatile was the market. The low was 1566 and the high was 1643. Of course that could all change when the overseas markets open in a few minutes.
Perhaps after all the Mint will do the right thing. That would be a good step for them!
August 7th, 2008 at 7:22 am
Nice scoop. It will be interesting to see how the Mint handles a price reduction (if that’s what is taking place). This might be upsetting for anyone who bought the coins for high premiums over the last few weeks.
August 7th, 2008 at 1:18 pm
That would be bad news for those who might’ve purchased at the higher prices. However, we as collectors are used to playing that game when buying bullion related products. We won’t be able to win every time. Plus when sales were suspended at the beginning on July, Coin World reported that very, very few had been sold despite them having been available for many weeks. I am sure that the number of people who bought them in this time period is even smaller.
But I’m pretty sure they would have to come back. The Mint has sunk a good amount of money in making the dies for these coins (pun intended). Also, aren’t they required by law to have them on sale until a sell out or the next year’s issue is released? I’m not sure they can just stop selling something because they want to. But I don’t have hard evidence of this.