Opening Sales for 2013 Proof Platinum Eagle

platinumThe initial sales figures for the 2013 Proof Platinum Eagle are now available. From the start of sales on July 18 through the reporting date of July 21, sales have reached 2,139 units. This represents the third consecutive year of decline for the opening sales figures of the product line.

Sales had been uncharacteristically strong for the the start of the design series featuring the core concepts of American democracy as found in the Preamble to the United States Constitution. In 2009, opening sales reached 7,207, accounting for nearly the entire maximum mintage of 8,000 coins. A full sell out occurred after about a week of availability.

The strong sales could be attributed to the cancellation of the proof Gold and Silver Eagles for the year, which may have driven more demand to platinum coins. Additionally, this represented the first year for the design series, the first year that Platinum Eagle bullion coins were not offered, and the first offering after a significant retrenchment in the available options for numismatic Platinum Eagles. In previous years, the US Mint had offered four different sized coins in both proof and uncirculated versions, which had been reduced to just a single one ounce proof version.

In 2010, the US Mint had raised the maximum mintage to 10,000 units, following the prompt sell out of the prior year coin. Another strong opening occurred at 8,268 units out of the 10,000 maximum. Once again, a full sell out had occurred after about a week of availability.

In response to the two prompt sell outs, the US Mint once again raised the maximum mintage. The 2011 release carried a maximum of 15,000 coins, or nearly double the level of the first release of the design series. Opening sales were weaker than the prior two years at 6,786 units. A sell out occurred after about 14 months of availability.

Despite the slower sales, the US Mint maintained the same 15,000 maximum for the 2012 release, which had debuted at 2,461 units. This coin continues to remain available, with current sales at 9,661 out of the 15,000 maximum.

The opening sales for the 2013 release of 2,139 units represents 14.26% of the 15,000 maximum. Given the tepid opening, a full sell out does not seem likely. In fact, sales may have a difficult time reaching the levels of the 2009 or 2010 issues.

At one time, the US Mint had seemed to reverse the fortunes of the numismatic American Platinum Eagle products with two quick sell outs. The renewed interest in the product was dashed by the diminishing impact of some one time factors, the swift increase in maximum mintage level, and the general decline in sales for higher priced US Mint numismatic products.

Gold Numismatic Product Price Increase Likely

Based on the available data, it seems likely that the prices for the United States Mint’s numismatic gold products will be increased tomorrow.

Products are currently priced based on an average gold price within the range of $1,250 to $1,299.99. The available data suggests that the average price for the latest weekly period will be within the $1,300 to $1,349.99 range.

In the most likely scenario, as long as the Wednesday PM London Fix price of gold is above $1,300, a one tier price increase will occur. Impacted products would include the 2012 First Spouse Gold Coins, 2013 commemorative gold coins, 2013 Proof Gold Eagles, 2013 Proof Gold Buffalo, and 2013-W Uncirculated Gold Eagle. These products would see their prices raised by the proportional equivalent of $50 per ounce of gold content. Price increases have generally been made effective around mid-morning on Wednesday.

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Comments

  1. Ikaika says

    With all the products being released by the US mint, putting out $1800 for the platinum eagle is costly for the average collector. Those gears do not look good in the coin either. In a few weeks, we are getting the RP gold buffalo. That’s another expense over $1,640. No wonder the US mint is seeing a decline in sales.

  2. says

    I think the problem is basically price. Sales have been declining as spot prices have increased over the past few years. The mint’s revision to their gold and platinum pricing grids in order to jack up premiums has also really hurt them in a year where precious metals prices suffered a calamitous fall. I expect them to eventually capitulate on gold/platinum pricing like they have on silver, but I guess we will have to wait until next year.

    It’s a shame really, I think this is a fairly innovative design and would have done very well as a silver coin.

  3. Dan in Fla says

    I like the design and can’t wait to see one in hand and for real later on next month.

  4. fmtransmitter says

    Need a silver version, with $100 value on it too! lol What a miss at a beauty w/out those gears…I’ll pass…

  5. samuel says

    i hate the gears! it looks like the meat machine in the grocery store that makes beef into ground beef.

  6. stephen m says

    I like the coin and the gear wheels. Gears can do a lot of work and make all kind of things work for us. To me the gears represent what we can accomplish as a nation.

  7. VARich says

    First the WP ASE, then the RP Buff.., & now some of these sales trends.., 2013 has definitely shaped up to be an interesting year!

    @ Ikaika/CO – you bring up a good points! I would add that you may expect further declines in mint sales in 2014; this is off topic but a related issue influencing sales. I’m somewhat shell shocked just having a purview into what to expect for my healthcare open enrollment and the cost being passed onto the employee, after five phonecons, it seems systemic through various industries. I bring this up as I think if price points on numismatic gold/plat remains the same or higher, you’ll see shifts elsewhere as the discretionary income will not be at past levels. Not too many folks are going to buy into jacked up numismatic offerings at the expense of their 401/IRA with the added additional expense of medical savings accounts, and increased premiums/admin fees.

    Those that can afford it will relish in the new lows.., others will have the opportunity to redefine their “collecting interest” …this will be interesting to watch next year…

  8. Dustyroads says

    I like the coin, but affordability for me this month looks null. I agree with CO’s points, he seems to be on the mark. It will be interesting to see if the Mint does revise it’s pricing next year, that is if we’re still here of course.

    OT~I read an article earlier today about next years baseball commemoratives, has a nice image of what the coins may look like. Here it is if you haven’t already read it:
    http://www.coinworld.com/Articles/ViewArticle/glove-design-an-easy-call-for-coins

  9. someone says

    These last few years, I have enjoyed the majority of the platinum eagle designs and wished to purchase them; the price point, of course, has forbidden me from doing so. I wish the US Mint would bring back fractional versions of the gold/platinum eagles. I could scrape up funds for 1/10 oz. or even 1/4 oz. versions of the coins that way. Alas, I feel they will never return. *sigh*

  10. Ed D says

    The tri-fold booklet is too large and bulky for my storage capabilities…just another reason (besides price) that I do not collect this series.

  11. Jerry Diekmann says

    Vry pretty coin, with or without gears, but I am like most of the rest of you and simply cannot afford the prices the Mint charges, Spot for platinum and gold will have to fall to $1,000 an ounce or below before I can ever purchase these coins. I don’t know if this will happen or not. There seems to be an inverse relationship between the price of PM and the state of the economy. When the economy tanked, people pulled their money out of stocks and were looking for safer investments, and PM prices took off.

  12. Don says

    Jerry,

    Agreed. But the wise choice is never to buy these expensive PM coins as a good way to invest. Because of the volatility of PM, no investment planner in his right mind would ever suggest getting heavily into gold, platinum, etc. This is in any form, such as mutual funds, stocks, coins, or bullion.

    As for myself, I have three one- ounce gold coins. I will eventually give one to each of my three grandchildren. You know, the family heirloom thing.

  13. silverhawk357 says

    Mint issue gold is overpriced, platinum is overpriced and the base of buyers too small. Gold will increase— beyond my reach— but silver, my friends will rise and fall. I hear you all say in so many words that the mint price is too high. Yes, it is. Buy silver on the dips. It follows the gold market for a while, then it diverges, usually down. Buy on the dips : bullion bars, rounds or coin. When you cash in a few years from now you can then buy the mint coins you can’t afford now. Patience pays off.

  14. Erik H says

    At the start of 2008 platinum cost over 2200 an ounce so it’s been on sale for a few years. Now is the time to buy if you can afford too (I wish I could).

    Bring back fractional Buffalos & Platinum Eagles please.

  15. Dustyroads says

    silverhawk357~I get it, and I’m sure the core of the commenters here on the thread also get it, but what you’re failing to mention is your interest in…numismatics. Sure, no one wants to put their money into something that is going to have unseen costs, but the the Mint has really been good about throwing out a morsel every once in a while. Like the “Kennedy Collector Set,” which had a 1998 S matte finish Kennedy half which was limited to 62,000, that makes it the lowest minted half. Or how about the 1997 P Jefferson nickle with a matte finish which was also unique to a set limited to only, correct me if I’m wrong, 25,000. To us all here, value is where it’s at, but that’s not the end of it!

  16. Dustyroads says

    I believed at the start of this year I was witnessing a surge in numismatic interest, largely made up of people who came into the hobby because of their interest in investing in precious metals. Now it appears obvious, as some are questioning the US Mints pricey offerings. As far as I’m concerned, if no one wants to buy, and I have the money at the time, then I’m buying!

  17. Scott says

    I agree with bringing back the fractional Platinum Eagles and Buffalo gold. You can thank the congressional requirement to mint those (mostly) hideous First Spouse coins for their demise. Who the heck really cares about Alice Paul anyway?

  18. Zaz says

    The premium is something like $350+ for the coin. Incidentally I have the first 12 proofs in the quarter oz. size, and while the various designs of the eagle over various parts of the nation were fine, two of the branches of government are far too tiny to be appreciated in the 22mm size as the details are too small to make out. I can only imagine the 1/10th oz fractional would make most elderly collectors go blind. The preamble designs have been only appreciated 27mm or larger anything smaller does a great disservice to the coin designer and I for one am glad they discontinued the fractional proofs.

    The 2012 pt coin should be capped at 10K and go off sale soon

  19. Ray says

    IIf I didnt have some holes in my 2013 us mint collection, and i had 1800 to blow, i’d buy the 2013 plat coin. it is nice looking. i’d be all over it if it was an uncirculated silver coin, or a fractional plat coin. with the rp buff coming up, and pending wp ase sets on my card, i just cant do it. it is a great looking coin, even with the gears (id prefer it without).

    bring back the fractional gold buffs and plat eagles!!!

  20. silverhawk357 says

    Re Dustyroads : Next opportunity in the lineup you refer to may be the Kennedy anniversary next year. I’m drawn to the Kennedy half because I was there to see the whole thing evolve. But I don’t expect the younger collectors to hold the same mystique for the coin that I do. What I’m saying is BE PATIENT! If you don’t have all the cash in the world, buy in to the winners. What are they? Harder to say, but 100 years from now it will be the FS set that everyone is panning now!! Why 100 years? Everyone that hates them NOW will need to die off…!!

  21. VARich says

    Silverhawk – wonder what the collectors a 100 years from now will be panning? Perhaps all coins, probably ’cause they’ll all be made in china. Glad I won’t be around

  22. thePhelps says

    VARich in 100 years the rest of the universe will be on the interstellar credits system and the US will still be debating the demise of the penny-nickel and dollar.

  23. Doug says

    I don’t know if it’s been mentioned before, but the 1 ounce AGE is now on backorder expected shipping 08/08/2013

  24. fmtransmitter says

    What a slap in the face for the little guy. the DAY that you can no longer qualify for ER/FS the US Mint moves your order up 6 weeks!! Wow..Sad..

  25. VA Bob says

    FM – While I’m not pleased at all with the Mint shipping fiasco on the WP ASE’s, it’s not really their responsibility to sync up with the TPG’s. The TPG’s make those arbitrary cutoff dates in an attempt to give their labeling gimmick an appearance of value. With the flood of ER/FS LABELS out there, I’m surprised more people haven’t learned to buy the coin and not the paper. If you’re trying to flip on some poorly informed buyer, then I can see your point. Knowledgeable buyers won’t pay a penny extra for that label. Of course if that increases your joy of coin collecting, then that’s what you should go after.

  26. Smiledon says

    Most of the time I like reading what others do say. Some people that post here may want to be writers for some stand up comic. But then again, the humor may be over some people’s head.

  27. fmtransmitter says

    It may not be “their responsibility” but it sure smells like it was done, in this this offering.

  28. DCDave says

    Should there legally be a “Made in China” label on the WP packaging (since it is)?

    @Doug: Proof ’13 proof gold Eagle likely just waiting for another batch like the 5-Star General gold has done a few times…

  29. VA Bob says

    DCDave – I’m sure if the Chinese company that makes the boxes decides to slap a “made in China” sticker on the bottom, the Mint surely won’t hire someone to remove them.

  30. William says

    I just placed an order for a proof AGE ahead of today’s price increase. However, the order status says “suspended”. As I write this, increases aren’t yet in effect, so any idea why this might be? Thanks guys!

  31. Ray says

    I love taking walks near my work. About 2 times a week, when I walk along the platte river in Denver, there are people in the river panning for gold. What a great country we live in.

    Now where are my WP ASE sets? Supposed ship date of today, but I’m still abel to cancel my order. Man I’m losing my patience with the US Mint.

  32. Doug says

    Within 1 minute of the London gold close, the buffalo wandered off to be repriced, while 5 minutes later the gold eagles were still available at the same price.

  33. VARich says

    thePhelps – haha, good one! And so true!

    FM – check again tomorrow on your ship date, it’s not going anywhere!

    My 8/9 date (2:30 pm, 10 May) hasn’t budged in weeks, neither has my 9/17. Though on a positive note, I think 9/17 is the latest date for everyone…, well, until next week!

  34. ClevelandRocks says

    Ray, they are on the proverbial “slow boat”.

    If the Mint will make more “enhanced” UNC silver eagles in future years, then the ’13s may end up with the highest mintages and lowest value like the ’06 gold proof Buff and the first year First Spouse gold coins.

  35. VARich says

    With the direction of Ag at the moment, if it holds for the next 30 minutes, we’re looking at just one $50 tier increase on the grid

  36. thePhelps says

    ClevelandRocks… lowest mintage doesn’t always mean the lowest value. It may mean there are more available which doesn’t always mean they are of less value.

    I am of the belief the mint can vary the enhanced coin for the next few years – alternating the highlighting to different fields and having different coins.

    I’d like to see the mint do a commemorative series of silver dollars – with the Platinum images…I’d buy that set. I can’t afford the price of these coins – but do like the images on most of them and done in silver they would be in my price range.

  37. Jerry Diekmann says

    With all these PM coins now being minted, I think the Mint is taking a page from the RCM, which IMO is a big mistake. I used to purchase Canadian coins, but I gave up years ago with the proliferation of one PM after another made it impossible for someone less than rich to buy sets of Canadian coiuns and their series of this or that. They’re all bullion products anyway.

    Several other bloggers have commented that the Mint should bring back the fractional Au and Pt coins. I agree with them – you really have to be in the green to be able to buy several Au coins and a Pt coin every year. .

  38. Dan in Fla says

    Samuel- I just received a AGE yesterday and it is flawless, to my eye anyway. You will not be disappointed and you got it before the price increase. Thats what I did too.

  39. Samuel says

    Dan, i have been watching the Unc AGE and Buff, but decide ignore the buff until later date. if it is not mintage low, basically it will be sold at spot later like the 06, 07 ones. hopefully, i get a PERFECT AGE. i saw 69 ones sold close to in OGP, but 70 about $300 more. i decided to take the risk to buy OGP.

  40. VARich says

    When has the mint historically pulled AGE and Buff offerings? The Spring of the following year in which they available?

    I don’t recall them showing up on the “last chance” list, do they anyone? Thanks

  41. Brad says

    I’ve got a question about the boxes that qualify for PCGS First Strike status. My order of 10 WP ASE sets was shipped out on 7/19 and I signed for it yesterday. However, it was sent to my P.O. Box via USPS Priority Mail. Those shipping labels do not have an actual “ship date” printed on them. The USPS tracking number on the label can be matched up to the online shipment status printout that clearly shows it was picked up in Plainfield IN and processed through the Indianapolis sort facility on 7/19. The paperwork sealed inside the box would also attest to the fact that the coins were shipped out in time.

    So, does such a box with a copy of the online tracking page qualify for the silly “First Strike” status at PCGS, or am I just out of luck on that? It means nothing to me, but I’m more than happy to accept extra money from someone who DOES place a value on such things. I ended up buying some sets from Aramark after my order seemed to be stuck in limbo for ages, so now I’d just like to capitalize on this sealed case as a “First Strike” eligible case if I could. Any advice would be appreciated.

  42. fmtransmitter says

    Would anyone enjoy a bullion version of the Peace Dollar for future offerings in silver? I sure would, what a beautiful coin that is…

  43. Ray says

    just bought my first peace dollars. i’d love to see that design come back to the mint. its beautiful and under rated imo.

  44. EvilFlipper says

    Lots of strange goinge on in the physical gold market. Is the 1 oz. Proof AGE really on back order? My best guess is we’ll know where the market is going after September. Wild gyrations in the gold markets. 3% yesterday -1 1/2% today. I’m watching the JP Morgan/hsbc Low stockpile story as well. Miners are losing out at these price levels especially with gas going to 4$. So much to follow.
    I do like the new platinum design and hope they keep with the liberty theme!

  45. fmtransmitter says

    Yes FREE shipping from the US MINT starts Friday for web orders. That is ANOTHER slap in the face because everyone canceled their orders and ordered from the Gift Shop in Philly. This is just too much. On top of that, MY shipping is already paid for because I had ordered an “in stock” item when my “other” item went on back order. “SLAP” to the right, “SLAP” to the left…Ouch!

  46. Matt says

    Why would the mint push free shipping the day after the ATB Great Basion National Park 5 ozer comes out? I canceled my ATB subscription to take advantage of the free shipping. What our goverment doing? We need new leadership…

  47. simon says

    FM Tx : “SLAP” to the right, “SLAP” to the left…Ouch!

    Some (the car talk guys) would argue that an abundance of
    dope slaps turns boys into gentlemen, or in our case true
    coin collectors ! 😉

  48. Dan in Fla says

    Look on the U S int site. Announcements. Starting 7/26/13 Summer discount for online orders. Free shipping.

  49. Matt says

    Has the mint ever done free shipping before? And I thought I’d never get a free thing like everyone else from the goverment.

  50. fmtransmitter says

    @Matt; Bravo! Nothing is free…You will be charged in higher premiums, as if they are not high enough..

    @simon: You are a true gentleman friend!

  51. thePhelps says

    Matt – back when I first started buying coins from the mint in the 80’s – it was free shipping for everything.

  52. Ray says

    So you guys think that web orders from May that havent shippd yet will qualify for free shipping? that would be great, but i’d be very surprised. i did hold out on a lot of orders ive been waiting to make. i guess afte rfriday will be the time to finally buy the us mint silver proof set, white mountain and perry 5oz, and the uncir ase.

  53. Rich2 says

    @Matt

    If the US Mint did not delay the release of the 5oz Unc Great Basin you would have been paying more $$$. IMO they actually did something right for a change and avoided massive returns by the subscription holders. The subscription is not a big deal at this price. Come on – most of us, myself included – just bought 2 oz of silver for about $20 less than this 5 oz coin. Also, being that I have my subscription I can tell you my 5 oz Unc GB is backordered until 8/8/13…so I guess it qualifies for free shipping. Now why the coin’s release was delayed and still ends up on backorder is beyond me. That is one of those US Mint ‘things’ we all complain about.

    But my main point is this –
    Stop banging the US Gov’t so hard – it ain’t that bad when you look to places like the east. We might not all agree (and I don’t think it was ever designed as such) but we do have a much better and stable system of government than most.

    Sorry All.

  54. thePhelps says

    Rich2… unless you cancel your subscription and order after the date the free shipping starts…you’ll find yourself paying for shipping.

  55. fmtransmitter says

    @Rich2: No reason to say sorry. You voiced YOUR opinion. That is what this Blog and America is all about. IMHO this site is full of US Mint FANS and Patriots. We all love America and spend our hard earned money for the products our Mint produces. This is a place to VENT and have dialogue about good AND bad things the Mint does to it’s customer base. I know I could have it much much worse, in fact I HAVE had it much much worse. God Bless America!

  56. Louis says

    Well, I get the award for doing the dumbest thing! I had two boxes arrive from the Mint on the same day, and the one with a West Pt. set I wanted to keep sealed as it was shipped on the 18th and I had planned to sell it sealed and 1st strike eligible. One was USPS with no date and the other was UPS with a date, and of course I opened the wrong one because I was fixated on the date, which was not on the box with the WP set! The coins are fine but there goes that plan. Anyway, from what I have seen so far sealed boxes are only selling at a small premium though that could change. I wish every box had a date no matter how shipped, as I could see PCGS balking at it.

  57. Louis says

    I do like the free shipping too. Other mints do it and so should ours esp. since they get special bulk rate deals and it does not cost them that much. At a minimum they should bring it back for orders over a certain threshold like $300 or something.

  58. fmtransmitter says

    FYI, I already been through all of them on the bay. There is a lady selling a set of 2 1982’s and 2 1983’s P and D. The last one in the photo to the right on the reverse is def. a die crack BUT she has used that same photo for about 5 different auction listings, SO, I bought one of the sets and asked her to send the EXACT ones in the photo or issue a refund. After I saw she used the same picture for all the different auctions I could be so lucky that she still has those exact ones. Other than that, check you pocket change…Happy treasure hunt! Your welcome!!

  59. VARich says

    @ Louis – out of curiosity, I’ve checked the WP ASE bids on the bay a few times over the past several weeks and have noticed a considerable pull back on what sets are going for from their peak. The saturation point that someone commented on about 6 weeks ago.., well I think that was realized about two weeks ago. Even the retailers have lowered their price after increasing them $25-$30 post offering period. I’m still waiting on my day two order to arrive sometime in August. Would be a dream come true if mintage comes in at the < 220k, but that's a pipe dream. If the mint doesn't go enhanced crazy and waits a few years for another ASE release, then all sets should appreciate well.., if not, Cleveland above is on point, in which you still have an amazing artistic set! (I say art because given the premium paid, that's how I can justify it in the little grey matter between my ears)

  60. VARich says

    @ FM – thanks Partner!

    From its original position, too bad that crack wasn’t inverted and shifted up 60 degrees.., then they could have called it the FDR Pipe Smok’n Eagle!

  61. Robt says

    Where is the eagle?? Oh, I spotted it. Super-tiny eagle head next to “$100”. I guess the Canadian Coins are way more artistic than the U.S. Mint’s. Check it out for yourself on http://www.mint.ca/ and see if you think the same.

  62. Louis says

    @VARich- I agree and think that a few years down the road both the San Fran and WP sets will appreciate as the 20th anniv one did. Even if they do more enhanced eagles later, the first one should have an extra premium.

  63. Mohawk says

    Personally, I love this year’s platinum eagle design and I ordered one on opening day. I was honestly surprised and pleased that the US Mint put out designs that I really loved for two years in a row…..I’ve usually been less than impressed by most of the products that the Mint has put out in the last few years, but last year’s Star-Spangled Banner Silver Dollar and this coin are truly excellent. I started saving for this as soon as I saw that the chosen design was even in the running, hoping that it would be chosen instead of some of the monstrosities that were being considered along with it. And I’m so glad that I did that. I think this issue has potential. For one, it truly is a beautiful design. It has a great Industrial Revolution feel to it. Also, it’s being totally overshadowed by the Reverse Proof Gold Buffalo which is being minted to demand like the SF and WP Silver Eagle Sets. From what I’ve seen, most people who have the money to put out for one of the higher priced Mint products this year are going for the RP Buffalo, and I’m betting that the mintage on that is going to be ridiculous. When that RP Buffalo is just an ounce of gold 2 years from now, I’m betting this coin will have increased nicely for those of us who bought it. But I don’t care if it does, honestly. I love it regardless and it will still be beautiful if it goes up in value, goes down or stays where it’s at. Though I do agree with some of the comments about the price. It’s a shame that more people can’t afford this little beauty. A silver version would have been very nice.

  64. joe says

    Four considerations that tend to impact sales (IMO):

    1) High price of PMs
    2) Large margin added by Mint to the high price of PMs
    3) Higher priorities in a devastating economy
    4) Questionable designs (pc coins such as FS, girl scout, boy scout, etc.).

    Affordable PMs such as silver (and perhaps palladium), fractional PMs, proven designs (buffalo, ASE, etc.) and non-PC coins are the future sellers. Why purchase a one ounce proof AGE or AGB with a $400 markup from the Mint when a buyer can get a one ounce AGE or AGB bullion coin and roughly 15 bullion ASEs for the same price? It’s hard to justify the huge premiums to collect expensive coins during these times of extreme economic uncertainty.

  65. Dave C says

    It’s strange to me on the baseball coin. I like the baseball but when I think of a baseball, I think of a batter swinginging at the ball with a bat, not a glove to field the hit ball.

    I think these guys had a group think moment in following one and the first person’s suggestion of a ball fits in a glove.

    So, to me a ball fits with a hitter and his bat period. Without balls being hit what is the need for a glove besides for the catcher.

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