2011 Proof Platinum Eagle Sales at 6,786


The initial sales figures for the 2011 Proof American Platinum Eagle are now available. Through May 29, 2011, the US Mint has recorded sales of 6,786 coins.

This represents a slower start than each of the past two years. The 2009 Proof Platinum Eagle began with sales of 7,207 in the first three days. The 2010 Proof Platinum Eagle began with sales of 8,268 in the first three days. These two issues sold out of their maximum mintages of 8,000 and 10,000 respectively, after only seven days.

The 2011 issue has a much higher maximum mintage of 15,000 units. The initial sales account for 45.24% of this amount. A sell out could still happen, but it would likely develop over the course of months, rather than days or weeks.

In a previous post
, I examined some of the factors working against the 2011 Proof Platinum Eagle such as the higher mintage, higher price, and current outpouring of expensive products from the US Mint.

The slower initial sales may also be the result in a shift in collector buying patterns. In past years, huge sales have tended to occur in the first few days, followed by an extreme drop off, and eventually the establishment of a somewhat stable base weekly sales level. This year, the sales drop off seems to be less extreme, for gold and platinum products in particular. Collectors may be more confident that the offerings will not immediately sell out and are willing to place orders days or weeks into the offering. Orders may also be delayed in the hopes of price decreases.

As a case in point, the 2011-W Uncirculated Gold Eagle had initial sales of just 1,098 coins. The following week sales fell to 237 coins. Pricing for the product was decreased, impacting the following two weekly sales periods, which had sales of 490 and 435.

View the full weekly sales report on Coin Update News.

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Comments

  1. Anonymous says

    Is the the 2011-W Uncirculated Gold Eagle a good buy in terms of rarity? Probably too early to tell…

  2. SunTzu says

    I believe that's the sleeper in the whole lot of current offerings. Count me down for one. But like Michael wrote, I'm waiting. I see no rush to buy it and might consider thinning out a couple items to generate the cash for it. This one will be an investment piece for me more so than a hobby piece.

    The one thing I don't want to do is lay out the cash and be stuck with a coin worth a couple bucks more than bullion. The same applies to the proof 2011 Buffalo.

    Time will tell. Oh, don't forget about the two gold commemoratives. I have both and like them very much. They too might get lost in the shuffle and finish out with low mintages when compared to other gold offerings in the past.

    Lots to choose from and not enough cash to go around. That seems to be the dilemma. To be honest, I bought 6 2010 ATB 5oz bullion sets from the AP's. I got greedy so the cash isn't there for some of the new stuff. Greedy as I am, I won't part with any of the 6 either! Those are a buy and long term hold for me.

  3. Anonymous says

    Doesn't seem worth the price of admission. This is the WORST toime to but Platinum OR GOLD!
    sTICK TO SILVER, YOU CAN'T GET BURNED TOO BAD THEN…

  4. Anonymous says

    These plats will eventually sell out. There is a dedicated collector and investor base to make sure it happens. Probably before the end of summer. The long shot is for a metal decline but I don't see much developing there. More likely is a metal increase.

    As for myself I have no interest in platinum. With resources for only one coin I would rather get the unc AGE.

  5. Anonymous says

    2011 Unc Gold Eagle quality control stinks. I just received 4 coins and had to return all 4 because the front had toning on the torso and the reverse was scratched. Unbelievable. Rare or not I'm not impressed. Good thing I have a 2008.

  6. Anonymous says

    2011 platinum eagle will completely sell without a doubt. I may have to start dumping some of my old Pt sets to have enough dough to buy some more.

  7. Anonymous says

    Why do we "need" to know the sales report on Yellowstone? Whatever it is, it won't change anything. Seems someone is being a little over dramatic.

  8. Anonymous says

    we need to know the sales report on yellow stone.

    Sales have stalled at 26,999. 🙂

  9. Anonymous says

    Roar of the day: It appears the Mint has concluded that there is no evidence of hanky-panky by 2 of the PM merchants involved with the initial sales of the 2010 ATB bullion fiasco a few months ago. LOL!!! Really? Nothing was cherry picked, pricing falsely inflated, loose wording on advertisements, etc., etc.

    LOL. And what other possible baloney might have been concluded from their misplanning and mishandling? Ah, none? Sure, and the tooth fairy flys with powdery white wings children.

  10. Anonymous says

    Has the mint said what the price for the 2011 Proof Silver Eagle is going to be?

    It's supposed to be released in 1 month and I would like to know how much they will charge. They should know by now!

  11. Anonymous says

    Pop Pop boy sez:Roar of the day: It appears the Mint has concluded that there is no evidence of hanky-panky by 2 of the PM merchants involved with the initial sales of the 2010 ATB bullion fiasco a few months ago. LOL!!! Really? Nothing was cherry picked, pricing falsely inflated, loose wording on advertisements, etc., etc.

    If this is true than it is another eample of how the rich are playing us all for chumps. They spread around some cash Whal -ah,no more investigation. Maybe Mr. Moy was innocent and the power that be used him as a scape goat.

  12. Anonymous says

    Re: 5:57 PM

    Agree the quality control on the 2011-W Unc GAE is horrible.

    I received 2 of them today and they are both going back for replacement. There is some kind of toning or smudging (not sure how to describe it) above and to the sides of the eagle and in a few spots around the liberty. Also on both coins, the chest looks like the high parts were chipped or skuffed off.

    Hopefully I'll get decent replacements.

  13. Anonymous says

    on my above post, I'm returning the two coins for replacement (instead of refund) as I believe the 2011-W UNC GAE could be a low mintage item due to high price of gold and other offerings available. Plus I got them before the price increase.

  14. Anonymous says

    CNBC says there's going to be a QE3 which will send commodities (PMs) up again! Buy now before prices rise!!!

  15. Anonymous says

    Anonymous said…
    Is the the 2011-W Uncirculated Gold Eagle a good buy in terms of rarity? Probably too early to tell…

    May 31, 2011 2:09 PM

    ———————–

    What's the max mintage for them ?

  16. Tony says

    There must be a lot of NP2 orders in the past 2 days that the price of silver bounced back up. There is no warning time for "waiting list".
    With QE3 coming, PM will continue to climb. Bye bye Pop Pop guy.

  17. Anonymous says

    Interesting that the Mint did not use a "waiting list", when Hot Springs had one and Yellowstone was supposed to have one too from what was said earlier.

    I think I'll wait a few days on Yosemite and see if I can't pick it up at the same time as the Grand Canyon and save a shipping charge. I really can't see Yosemite selling faster than Yellowstone. It might hang around for a month or more, who knows?

  18. Anonymous says

    yes i ordered 4 2011 $50-1oz. unc.-W gold eagle coins and now have sent them back for a third try. blemishes on all the reverses. what is going on at the mint? no value here and most people will stop trying to get a decent 2011-W-UNC. this might turn out to be really valueable low mintage coin.

  19. Anonymous says

    MY HOT SPRINGS AND MY YELLOWSTONE SEEMS TO HAVE TAKEN PATTY CAKE W/SOME OF THE MINT EMPLOYEES. TOO MANY DINGS ARE EVERYWHERE ON THESE. NOT BUYING ANYMORE. I FEEL REALLY RIPPED OFF BY THE US MINT. JUST LIKE BUYING A NEW CAR, BUYER BEWARE AFTER YOU JUST PAID FOR IT. HEY GUY'S' IN A COUPLE OF YEARS WHEN THE BUBBLE BREAKS, PLATINUM AND PALLADIUM WILL NOT BE WORTH MUCH. IT'S STRICTLY FOR CARS. WHEN THE GOVT CANNOT MEET IT'S DEBT PAYMENTS, AND IT WILL, THESE 2 METALS WILL NOT BE WORTH SPIT. SILVER WILL HAVE A DOWN SIDE TO, BUY A LATER DATE. GOTTA GO WITH GOLD. I ALWAYS KNEW THIS, AND IF ANYONE IS EDUCATED IN ECONOMICS,POLITICS, TECH. AND SCIENCE, ALONG WITH SOME FORSIGHT, IT WILL ALWAYS BE ABOUT GOLD. READ;AFTERSHOCK

  20. Anonymous says

    Received my two 2011 Platinum Eagles yesterday 6-07-11 (I ordered within the first minute of them going on sale). Happy with the purchase though I don't think either would get PF70 at PCGS (most likely PF69).

  21. Anonymous says

    What differentiates a PF69 from a PF70? Are flaws on the PF69 visible to the naked eye or does it require looking through a microscope? I tried finding out what determines PCGS's grading system, but their website does not give real specifics or photo examples of what flaws constitute a coin being a 69 instead of 70. I have noticed there's a big difference in resale value. on ebay for a 70.

  22. The man says

    Platinum is a noble medal, also it is still the rarest metal in the earths crust, it has a producer in a third world country if you consider it worldly in Africa…80% production, but just so mr gold man understands that when any bubble burst platinum is KING. And last time I checked not only is it used in the auto industry it has numerous applications, many being pharmasutical and well anything else that has delicate electrical equipment. Pretty much what the problem is for that metal is the foreign automakers slowing production, as soon as china and the rest of that region get back online guess what ding ding gold will switch with platinum once again, The 2011 Pt Ae is one of the most beautiful coins produced and pleaant too look at, the proof finish is superb. I feel this coin will do well with collectors, obviously the new direction the mint is going with this set, is selling alot of pt coins, London controls the price as much as I ramble ; p

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