2009 Proof Platinum Eagle on Waiting List Status

By yesterday afternoon, the United States Mint had received enough orders for the 2009 Proof Platinum Eagle to meet the maximum mintage limit of 8,000 coins. The products still remain available for ordering on a waiting list basis.

Customers who place orders now will go onto a waiting list. If coins become available due to order cancellations, then orders will be fulfilled from the waiting list on a first-in, first-served basis.

The 2009 Proof Platinum Eagle first went on sale December 3, 2009. By December 6, the US Mint had received orders for 7,207 coins, suggesting a sell out was close at hand.

The coins were priced at $1,792 based on an average platinum value from $1,450 to $1,549.99 per ounce. Platinum has since taken a turn lower and is currently trading around $1,415 per ounce.

The sell out has yet to spark any immediate secondary market appreciation for the coins. At the time of writing this post, there were ten 2009 Proof Platinum Eagles listed on eBay with opening bids from $2,085 to $3,000. None of the auctions had attracted a bid. View the current eBay auctions here.

I believe that the 2009 Proof Platinum Eagle represents the fastest sell out ever for a US Mint platinum coin. Typically, the coins offered much earlier in the year and remain available for several months, sometimes into the following calendar year. As I have mentioned another post, a big contributor to the quick sell out is the lack of other options available to collectors this year.

During 2008, the US Mint had offered a ten separate collectible Gold Eagles products, ten collectible Platinum Eagles products, three products including collectible Silver Eagles, and twelve products including Gold Buffalo coins. A combination of product discontinuations and cancellations whittled these product lines down to just two options for this year: the one ounce 2009 Proof Platinum Eagle and the one ounce 2009 Proof Gold Buffalo. The Proof Gold Buffalo still remains available for sale, and has recorded sales of 40,233 coins as of the last weekly reporting period.