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Mid-Year Review, Summer 2008 |
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Tuesday, 05 August 2008 |
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Page 1 of 6
Wow, what a year 2008 has shaped up to be so far. Precious metals have set all time highs and along side never before seen low mintage figures on Gold and Platinum Eagles. The 2008 coin market took off right from the beginning starting with the Florida United Numismatist (F.U.N.) show in January. The amount of new money that is coming into coins is simply amazing. The money that is able to purchase coins out weighs the available supply. This just proves what we had been saying all along, that prices must go up with so many new collectors in the market and having a fixed supply of numismatic coins. Coin experts around the country are now gearing up for record high prices in the near future. Then it was Platinum that started to take our breath away as news broke that South African mines were being forced to shut down. Many collectors who bought the Platinum Eagles in January are looking like they got a steal, as Platinum soon exploded over $2,200 an ounce. Gold and Platinum Eagle mintage figures are very low compared to previous years, as the mint was forced to stop sales because of the rapid increase in precious metals.
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Platinum
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Gold
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Silver
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January 2, 2008
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$1,550
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$835
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$14.00
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May 30, 2008
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$2,050
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$886
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$16.90
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$25 Platinum American Eagle
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The Platinum American Eagle program was first introduced in 1997, and since then Platinum Eagles have commanded the attention of collectors and investors around the world. The Platinum program contains the first $100 dollar coin in American history and is the first legal tender coin to be set by the U.S. Treasury and not Congress. Due to Platinum’s short supply the mint is forced to produce less and less each year. Low mintages and ever increasing demands for grade certified Platinum Eagles have caused Platinum Eagles to carry an amazing 820% premium above melt value in the past.
Platinum as a metal is 30 times rarer than gold and almost 100 times more rare than silver. The limited above ground supply of Platinum has pushed its price from $600 per ounce to over $2,200 per ounce in just five years. South African mines produce 80% of the world’s supply of Platinum. Now these mines are facing power and safety issues which have forced these mines to shut down. In effect Platinum supplies in 2008 are looking to fall short of demand by close to 500,000 ounces. Now experts predict Platinum to hit $3,000 per ounce by the end of this year.
2008 Platinum is looking to be the rarest year ever! Coin experts are predicting these coins to start carrying heavy premiums in the near future as rumors spread this could be the last year ever for Platinum coins.
According to official U.S. Mint reports the 2008 $25 Platinum
American Eagle is on track to be the single rarest coin in over 100
years!
For more information on the U.S. Mint’s
Platinum program or to check availability for 2008 Platinum coins call
877-227-COIN and ask to speak with a Platinum advisor.
(Due to extremely low mintages THE AMERICAN EAGLE RESERVE can not guarantee availability
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