Comments on: 2017-W Proof Platinum Eagle Sales at 5,960

By: Tinto

Tinto — Wed, 19 Jul 2017 17:29:38 +0000

Even after lifting the HHL for the big boy buyers and flippers couldn’t give the Mint a sell out in the week following. Wonder how many they’ll return after the results of their submissions to TPGs for “First Strike”, Early Release, etc

By: Mark

Mark — Tue, 18 Jul 2017 21:11:04 +0000

Sales have picked up on the Pt Proof Eagles with 8044 sold through last Friday. Looks like these may sell out yet.

By: jim

jim — Tue, 18 Jul 2017 13:46:41 +0000

The latest statement I see states
The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation’s sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers. The Mint is celebrating its 225th anniversary in 2017

This is an about the mint statement attached to the bottom of all the mint press releases.

By: Scott the Robot

Scott the Robot — Tue, 18 Jul 2017 04:44:12 +0000

Jim – in response to your comment – this is from the US Mint’s website: “The mission of the Mint is to serve the American people by manufacturing and distributing circulating, precious metal and collectible coins and national medals, and providing security over assets entrusted to us.” Therefore, at least one of the goals of the US Mint is to make “collectible” coins (their words). Also, the US Mint says: “American Eagle Coins are beautiful collectibles in precious metals for any numismatist. They are available in proof and uncirculated finishes.” Again, they use the word “collectible” … not me. However, I think I understand your point and agree with everything else you said.

By: Joe Brown

Joe Brown — Sun, 16 Jul 2017 09:36:13 +0000

I forgot to mention, in 1 of my blogs above. I sold all my Platinum Eagles in 2008. My wife & I were in need of $$$.$$$. for my first kid first year of college up in N.H. & bad need of Home repair, Truck & Van also. Needless to say I did very well in the sail of my platinum. Thank GOD.

By: Joe Brown

Joe Brown — Sun, 16 Jul 2017 08:22:58 +0000

Seth Riesling – Thank You, I do not want to mislead anybody. The rundown is #5 U.S. 2.26 percent, #4 Canada 4.47 percent, #3 Zimbabwe,S. Africa 6.83 percent, #2 Russia 15.52 percent, #1 South Africa 68.32 percent, Total of other Countries about 1/16 percent more than USA. All UFO sightings, they must need it for their space craft. lol

By: Seth Riesling

Seth Riesling — Sat, 15 Jul 2017 21:47:52 +0000

Joe Brown –

Platinum hit a high of about $2270 in 2008. About 90% of all platinum comes from mines in South Africa & Russia. The USA only has one mine with any good amount – in Stillwater, Montana. Czar Nicholas I of Russia had platinum coins struck first in 1828 & the US Mint struck one experimental platinum coin about 30 years later as a test, but gave up due to it’s high density & brittleness. The US Mint didn’t strike platinum coins again till 1997.
All the platinum mined in the world since its discovery would fit in the average USA house living room!

-NumisDudeTx

By: Joe Brown

Joe Brown — Sat, 15 Jul 2017 19:31:53 +0000

Scot the Robot – Hi, Correct me if i’m wrong please. In 2008 the U.S. came within 3 hours from total shutdown. 2/1/08 was at 1 point $2,300 London Fix. 2/4/08 platinum $1,803.80 South Africa supplies 80 percent or so of Global platinum, 2008 they were hit hard with electric supply. There’s more, but i’m a very poor at typing takes me forever. This is for your blog above. Have a nice rest of your day.

By: jim

jim — Sat, 15 Jul 2017 15:41:35 +0000

I’m not sure the mint’s goal is to keep any coin collectable let alone this one. If they were they wouldn’t have allowed unlimited orders of the Congratulations Set so that only a few collectors were able to buy and only within the first seconds of the start of sales. The US Mint is notorious for being leaderless and therefore inconsistent if not chaotic in managing it’s collectable coin division.

Next collectable coin and when? Who knows? The mint should or maybe they don’t since they can’t put together a schedule that goes more than one month in advance.

By: Scott the Robot

Scott the Robot — Thu, 13 Jul 2017 16:24:39 +0000

I know other people have posted similar information, but it is a slow morning so here goes:

1997 Mintage (Proof) (highest) – 20,851 (artificially high because first year)
2015 Mintage (Proof) (lowest) – 4,000 (but this was artificial)
2008 Mintage (Proof) (second lowest) – 4,769 (this was also somewhat artificial they stopped minting them due to unusual price fluctuations)

Other than the anomalies above, from 1998-2000 the mintages were over 10,000. Then, starting in 2001 the mintages dropped below 10,000 and ranged in the 6,000 to 8,000 range based on demand ever since.

Thus, I think it is pretty safe to say (consistent with most people posting here) that the demand for Platinum Eagles is between 6,000 and 8,000 per year. The US Mint should never exceed a mintage limit of 6,000 or lower if the Mint wants to keep these coins collectible.