After almost exactly one week of sales, the 2010 Proof Platinum Eagle has been put on waiting list status at the United States Mint, signifying that orders have been received to fulfill the 10,000 coin maximum mintage.
Orders can still be placed on the US Mint’s website, however these orders will be for placement on a waiting list. In the event that coins become available due to order cancellations, orders are fulfilled from the waiting list on a first come, first served basis.
The 2010 Platinum Eagle proof coin went on sale Thursday, August 12 priced at $1,892 each. By Sunday, August 15, sales of the coin had reached 8,268, representing more than 80% of the maximum mintage. Yesterday, a pricing adjustment reduced the cost of the coin to $1,792 each, likely providing the impetus for reaching the 10,000 coin maximum.
The time frame necessary to reach the maximum is slightly faster than last year. The 2009 Proof Platinum Eagle took slightly more than seven days to sell the maximum mintage of 8,000 coins. Last year the sell out did not spark an immediate boost for secondary market prices. Rather, it took some time for prices to steadily increase to around $2,400 per coin. The most recently completed auctions for raw 2009 coins show prices just above $2,500.
The strong demand for the 2010 Platinum Eagle is somewhat of an anomaly for US Mint products this year. Other products have fallen short of prior year sales trends. The only other 2010 product to sell out was the Boy Scouts Commemorative Coins. In that situation, the coins experienced strong opening sales, but then dragged on for months before an official sell out was attained.