American Eagle platinum bullion coins

American Eagle platinum bullion coins are official bullion coins of the United States minted by the United States Mint. First released in 1997, they were created under the authority of the Platinum Bullion Coin Act of 1996 to provide investors with a United States government-backed source of platinum. The coins are struck in West Point and carry a legal tender face value, though their market price is primarily determined by the spot price of the precious metal.

History

The series was authorized by the United States Congress through the Platinum Bullion Coin Act of 1996, which followed the successful precedent of the American Eagle gold and silver programs. The first coins were released to the public in 1997, making the United States Mint a relative latecomer to the platinum coin market compared to other major mints like the Royal Canadian Mint and its Platinum Maple Leaf. Production was suspended after 2008 due to a combination of high platinum prices and weak demand during the global financial crisis. The program was revived in 2014 with a new, unified reverse design, and minting has continued intermittently based on market conditions and authorized bullion coin program directives.

Design

The obverse of all coins features Adolph Alexander Weinman's iconic Walking Liberty design, which was originally created for the Walking Liberty half dollar minted from 1916 to 1947. This design depicts Liberty striding toward the dawn, draped in the American flag. From 1997 to 2008, the reverse designs changed annually, featuring different depictions of the Bald eagle, America's national bird, as part of a "Legacy of Liberty" series; these designs were created by various artists including Thomas D. Rogers Sr. and Sherl J. Winter. Since 2014, a single, permanent reverse design by United States Mint Chief Engraver John Mercanti has been used, depicting a majestic Bald eagle in flight with the stars and stripes and the inscriptions "E Pluribus Unum" and "In God We Trust".

Specifications

The coins are minted in four sizes, each with a different face value but all struck in .9995 fine platinum. The one-troy ounce coin has a face value of $100, a diameter of 32.7 mm, and a thickness of 2.39 mm. The half-ounce coin is valued at $50, the quarter-ounce at $25, and the tenth-ounce at $10. All coins feature a reeded edge and bear the "W" mint mark, denoting their origin at the West Point Mint in New York, which is the United States Mint's primary facility for precious metal coinage.

Production and mintage

Production is solely conducted at the West Point Mint, which also produces the American Buffalo gold coin. Mintages are not capped and fluctuate annually based on demand from the United States Mint's network of authorized purchasers. Annual sales figures are published by the United States Mint and have historically been much lower than those for American Eagle silver coins, reflecting platinum's smaller market. Notable years include the inaugural 1997 issue and the high-demand year of 1998, while some years, particularly during the hiatus from 2009 to 2013, saw no production. The coins are sold through a distribution network that includes major bullion dealers, coin dealers, and financial institutions.

Market and investment

These coins are a popular vehicle for investing in platinum, a precious metal with significant industrial applications in catalytic converters and jewelry. Their value is primarily tied to the daily LPPM-fixated spot price of platinum, plus a premium covering minting, distribution, and a small profit margin. They offer investors the benefits of liquidity, recognized brand recognition, and eligibility for inclusion in certain self-directed IRAs. The market for them is influenced by global factors such as South African mining output, automotive demand, and broader precious metal investment trends, often compared to other major bullion coins like the Platinum Maple Leaf and Platinum Koala.

Category:Bullion coins Category:Coins of the United States Category:Platinum