Platinum Rising - New Platinum Products Expand Choices

Short supply and heavy demand from both industry and investment circles have driven spot Platinum above the $1500 mark this morning. This is record territory for Platinum, which invites a strong investment interest. With gold ebbing and flowing between $785 and $815, Platinum must present a more vibrant opportunity to many impatient minds.

For numismatists seeking Platinum, there is the option of the new 10th Anniversary Platinum Eagle sets, which carry an excellent design and offer good tradability. A recent release of the US Mint these special Platinum Eagles are being currently sold at just about 30% over melt. At this price they may benefit from the timing of the current market drive, as small investors may find them a feasible option, while numismatists with the budget may want to obtain this special set for their collection. Of course, the normal proof and uncirculated Platinum Eagles are also available in one ounce and all the logical fractions.

Also new are the 2007 Platinum Britannia coins from the British Royal Mint. These have been struck in 25 and 10-pound versions for mass sale, but there was also a scarce four-piece set issued with two larger coins denominated 100 and 50 pounds. This set was limited to a mintage of 250 and I think it must have sold out already. The Brits are also issuing an Emblems of Britain set of Platinum coins for 2008. Here too the mintage will be tight at 250 sets, with seven old-style circulating coins struck in Platinum to celebrate the 40 years of service from these designs. In late spring 2008 the Royal Mint will issue newly redesigned circulating coins for Great Britain, so this Platinum set is being pitched as the "last of the old". The price for this set is about 5000 pounds. Similar collector sets are also being issued in gold, silver and the circulating base metals.

Unique 1868 Proof Set Sells through Spink's

In their September 27th auction Spink's offered a unique Hong Kong proof set from 1868. A discovery in set form, the lovely shaped case included the silver 5, 10, 20 cents, a Half Dollar, plus the Dollar all proof, all dated 1868.

Prior to this set surfacing, there had been no record of 5 or 10 cent silver proofs for this date. These two pieces are the greatest excitement of this set! The 20 cent had been reported by Pridmore years ago, but I had never seen one for sale in the market, so this too is a real treat. The May 1995 Irving Goodman sale, which I recommend obtaining as a reference for Chinese and Hong Kong coinage, contained a choice proof 1868 Half Dollar, which sold for $109,250. The Dollar had been listed in the Standard Catalog of World Coins for many years, though I had never observed one for sale in the market.

After some hearty bidding, which drove these coins up well over thier pre-sale estimate range, the set (lot 236) finally closed for $183,897.