In response to customer feedback, the United States Mint has resumed production and sales of one-ounce platinum bullion coins. The coins will be available for purchase March 10.
“We listened to our customers and are pleased to once again offer platinum bullion,” said United States Mint Deputy Director Richard A. Peterson. “Thanks to the hard work of our team, the West Point facility has begun striking platinum bullion coins for the first time since 2008.”
In anticipation of the sale of the new platinum coins, the U.S. Mint has built up a sufficient inventory of platinum, with already over 1,000 coins having been ordered since the announcement. 2008 marked the last year that the U.S. Mint sold platinum coins, as demand for the coins lessened after platinum prices climbed dramatically at the beginning of 2008. Investor and collector demand switched focus to gold and silver coins at that time, with even greater intensity after the economic upheaval that was experienced around then. Platinum rose to nearly $2300 an ounce in that time frame of March 2008. By October the platinum price had plunged to $730, accounting for over a two thirds drop in price from its highs as the economy dropped into free fall and left the automotive need for platinum in catalytic converters as the metal’s only true source of demand.
The new American Eagle platinum coins should compete favorably with other platinum coins such as the Platinum Maple Leaf from the Royal Canadian Mint. Made with the highest levels of quality and purity at a solid one ounce size, these impressive coins look to make fantastic additions to any collection and are also approved for purchase into Individual Retirement Accounts.
The obverse design of the platinum coins is former United States Mint Sculptor-Engraver John Mercanti’s “Portrait of Liberty,” and the reverse design is Mint Sculptor-Engraver Thomas D. Rogers Sr.’s “Soaring Bald Eagle.” The one-ounce coin carries a $100 face value.
As with American Eagle Gold and Silver Bullion Coins, American Eagle Platinum Bullion Coins will be available for purchase from the United States Mint Authorized Purchasers.
If you are interested in purchasing the new American Eagle Platinum bullion coin, please contact us today at 800-707-7923.