No proof platinum Eagle sellout

The 2017-W platinum American Eagle did not sell out on the first day, July 6.

Or the second day.

Or the third day.

In fact, it is still available if you want it for $1,300.

A bit pricey?

Yeah.

There was some talk of a first-day sellout.

Mintage was fixed at 10,000.

I had a telephone call just before the coin went on sale last Thursday morning.

The caller asked me if I thought the piece was a good buy and whether it would sell out quickly.

I was ready to reply, but he quickly added that the reason he was calling me was his wife didn’t want him to buy it.

It did not seem to be a good deal, I said to him.

Even if it sells out, previous hot Mint items have seen their secondary market prices jump and then retreat to issue price or less.

Just think of the 2014 gold Kennedy.

I don’t know if he was relieved or not by what I told him, but he said he would not be buying the coin.

I do not like to talk collectors out of buying the coins they love, but if the purpose is solely speculation, caution is advised.

If your wife is against it, that is a big red flag.

Information that I did not have at my fingertips while I was on the phone reinforces the points I was trying to make.

Last year’s coin sold 9,151.

Is there a reason for this year’s coin to increase by nearly 10 percent?

Platinum bullion has been edging lower.

This morning an ounce is $919.

That’s a 41.5 percent markup.

Yes it is a gorgeous proof $100 coin.

It is the 20th anniversary issue.

If you have collected the whole set, you should go for it.

As of the Mint’s sales report of July 9, buyers have taken 5,960.

That’s a long way from sellout.

My good deed, I hope, was to keep peace in the phone caller's family.

Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."

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