Platinum American Eagle Coins Returning?

platinum american eagle coinsSince 2008, the popular American Eagle bullion coin program has not seen the release of any platinum coins other than the one-ounce proof coin.

But, that may change in 2012, as the United States Mint considers ushering in the return of the full line of platinum Eagle coins.

Platinum American Eagle coins were first minted in 1997, and had been a favorite coin for tens of thousands of portfolio and IRA investors and coin collectors.

Platinum Eagle coins are .9995 fine and were offered in one-ounce, half-ounce, quarter-ounce, and tenth-ounce sizes. These coins were available in $100, $50, $25, and $10 denominations, respectively.

 

Why Did the U.S. Mint Stop Production of the Platinum Coin Program?

After incredible sales during the first few years of the program, demand slowed during the early 2000s.

In 2008, however, sales of the platinum coins began to increase, though the demand for gold and silver Eagle coins swelled even further.

Due to the rise in demand for the gold and silver bullion coinage, the U.S. Mint stopped production of the uncirculated platinum coins to focus resources on gold and silver Eagle production. One-ounce proof versions, however, remained an offering; the 8,000 that were produced sold out in a hurry.

There had been speculation that the full program was to resume in 2009, though these efforts never materialized. This was due mainly to the fact that while gold and silver Eagle coins must be minted, there are no mandated production requirements with platinum Eagles.

So, as was the case in 2009, production of platinum coins by the U.S. Mint was confined to the one-ounce proof coin. As 2012 unfolds, the U.S. Mint is looking to reenter the arena of uncirculated platinum coins, but the situation is now different for the U.S. Mint than it was a few years ago.

Other mints around the world, including the Royal Canadian Mint and Perth Mint of Australia had revived or introduced their platinum coin production in response to the unfilled demand of platinum coin investors and collectors in the United States.

While there may be some new international kids on the platinum block these days, it is a sure bet that if – and when – the U.S. Mint revives its entire line of platinum coins, the demand for any of the coins from the newest of 3 American Eagle coin series will be strong and steady.

Joshua McMorrow-Hernandez

My love for coins and numismatics began when I was 11 years old. I primarily collect and study U.S. coins produced during the 20th century. I've also been studying meteorology and watching weather patterns for years. I enjoy sharing little-known facts and fun stuff about coins, weather, travel, health, and living green with others.

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