American Eagle Platinum Coins
The American Platinum Eagle is a coin which was first minted in 1997 and circulated annually until 2008. However, Proof Platinum Eagles were minted every year since inception in 1997. The mint state version was then reintroduced in 2014 and continues to be minted today. The coin is the only American coin to be struck using platinum. This platinum coin was designed to be a set with the original silver and gold coins, which also featured eagles and Liberty in their designs.
The American Eagle platinum coins were created in different weights and were either one ounce, half an ounce, one-quarter of an ounce, and one-tenth of an ounce. These bullion coins were distributed by coin dealers who ordered the coins in bulk and sold them for a specified markup.
American Platinum Eagle Design
The obverse of the platinum eagle was created by John Mercanti and features the Statue of Liberty. The face and crown can be seen, and the top of her arm, which holds the torch. The year of mintage is engraved on the coin's right, and underneath is the motto ‘In God we trust.’ This coin face is iconic and striking, as it looks as if Liberty is staring right through you.
The coin reverse was designed by Thomas D. Rogers and features a bald eagle soaring across the sky, with a sun in the background. There’s also an inscription that indicates the coin's platinum content and value.
The reverse design on the platinum eagle proof coins changes each year. This coin is the only American coin to change the reverse design annually. The US Mint creates a theme and commissions a new design each year. Between the years 1998 to 2002, each coin proof featured a bald eagle flying over regional landscapes. Between 2006 and 2008, government buildings were featured. In 2009, a series that was inspired by the writings of Chief Justice John Roberts was struck on the platinum coins.
Platinum Eagle Mintage
The number of Platinum Eagle coins minted in a given year depended on demand from the public. This meant that coin numbers varied significantly from year to year. There was more demand for the coins from collectors in earlier years, especially those who already owned the silver and gold eagles and were looking to complete their set.
Gradually over time, there was less demand for the coins, and the mints stopped producing the bullion coins in 2008. In later years, there was an increase in the platinum price, which meant a corresponding rise in the coins price, meaning that it was less affordable.
Between 1997 and 2008, a total of 1,189,054 Platinum Eagle coins were minted. The one-tenth ounce coins were the most popular and fastest-selling denomination. The one-ounce coins followed this. In 1998, the year after the coins were first released, 113,002 $100 platinum eagles were minted. This was the largest amount for any year.
The 2007 $50 platinum eagle coins are very rare and highly collectible. They are sought after by dealers and collectors worldwide as only 7,001 were minted. In 2008, the US Mint stopped producing bullion versions of the platinum eagle. Numismatic versions continued to be produced for collectors from 2014.
Platinum Eagles are considered relatively rare and sell for high prices as platinum is an expensive precious metal. You may be surprised to find that the total amount of platinum ever mined could fit into the average American living room. Because of this fact, platinum coins are highly sought after, and collecting them can be a challenge.
Very few coins are minted using platinum when compared to similar bullion coins that use gold or silver. In several years the Mints struck less than 10,000 one-ounce Platinum Eagle coins. This makes the one-ounce coins harder to find as more fractional size coins were minted. Coins in all denominations sell for high prices. For these reasons, Platinum Eagle coins are often described as being a collector’s dream coin.
American Eagle Platinum Coins: Historical Appreciation
The American Platinum Eagle Coins, first issued by the U.S. Mint in 1997, have demonstrated a solid track record of historical appreciation, making them an attractive option for coin collectors. Their value has increased over the years due to several key factors, including rarity, demand, and fluctuations in the market price of platinum.
Rarity and Demand
Compared to gold and silver coins, Platinum American Eagles are minted in much smaller quantities, contributing to their numismatic value. This scarcity makes them highly desirable, particularly in the case of rare editions such as the Platinum Eagle 4-Coin Sets and the highly sought-after Platinum American Eagle Proof 70 Set, which are graded as perfect specimens. For collectors, these coins hold not only intrinsic value due to their platinum content but also added value due to their rarity and flawless condition.
Market Price and Platinum’s Industrial Uses
Platinum is a rare metal that has various industrial uses, especially in the automotive industry, where it is essential for catalytic converters, and in other sectors, such as electronics and healthcare. The demand for platinum in these sectors can drive up its price, which directly impacts the collection value of anyone holding platinum coins. The fluctuating market price of platinum can result in significant appreciation for Platinum Eagle coins, particularly during periods when industrial demand is high or supply is constrained.
Historical Performance
Over time, Platinum American Eagle Coins have proven to appreciate in value, both due to the rise in platinum coins prices and increasing numismatic value for collectors. For example, coins from early series or limited-edition runs have fetched significant premiums at auction. This appreciation makes them not only a store of wealth through their metal content but also a valuable addition for numismatists seeking rare and prestigious coins.
American Eagles Platinum Coins for Sale
Bullion Shark sells a selection of Platinum Eagle coins from all years. We have a large inventory that includes different types, grades, and years. You can view a large selection online. The Platinum eagles face values range from $10, $25, $50, to $100 but they sell for much higher prices. Coins such as the 1997, $100 American Platinum Eagle in a perfect grade 70 is valued at about $20,000. All these coins contain 99.95% pure platinum.
Platinum Eagle coins are stunning, fun to collect, and will diversify your coin portfolio. Consider taking an American Eagle Platinum coin home today.