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Buying Proof Eagles from the Mint - New Platinum Eagles Out

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Hello--

 

I was just wondering what you all thought about the new Platinum Eagles with the new reverse:

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I have never purchased proofs directly from the mint. I was considering getting the 4 piece proof gold eagle set, but then I noticed that past years actually sold cheaper on eBay than this year's direct from the mint. Why are the mint prices so bad? The 4 coin Platinum set is almost $2000!

 

Just wondering if anybody out there actually purchases these proofs directly from the mint, or if they wait for them to be removed from their US mint packaging by someone and graded. Seems they can be had cheaper that way.

 

Thanks!

JakeBlues2

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Jake - I like the new reverse quite a lot. I think that the coins are some of the best modern designs. I think that Liberty's image is spectacular.

 

I only own one platinum coin - the 2001 that depicted the desert southwest (a region near and dear to me). I do know some who buy the entire set from the Mint. I also know that if they get a coin in the set they do not like, they buy a single replacement coin and send back the single bad coin for a refund! 893whatthe.gif

 

Hoot

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I also think that the proof platinum coins are beautiful with awesome reverse designs. I bought both the gold and platinum proofs sets last year. There will not be a repeat performance this year, however. I think that the mint is getting way too greedy. A $625 increase in a year's time is 100%, pure b.s.!!! That's close to a 50% increase of last year's $1375 price tag. With platinum at $700/oz then I feel that the 4 piece set should sell for c. $1600. I might just buy a one ounze uncirculated coin for a type coin with the new reverse but they can keep their proofs.

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The premium that the Mint is asking over spot prices is about the same percentage on platinum that it is for the gold proofs. But the markup on platinum seems like more because the spot price is twice that of the gold issues.

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The Australian mint is selling 1/10 oz platinum coins for more than twice spot price. Using the same logic, the mint should be selling the 4 piece platinum proof set for over $2800. They can also keep it at that price, too. I bought a set last year, which set a precedence. I think that a price between $1600 and $1750 would be marketably acceptable although an argument could be made either way.

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I like the design a lot, but there are too many classic coins I would spend the money on before I would buy….lets face it, a bullion coin. This is not a slam against anyone who collects them, just my opinion on where I want to spend my money. confused-smiley-013.gif

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