The West Point Mint resumed production Jan. 30 of 1-ounce platinum American Eagle bullion coins, the first time platinum bullion coins have been produced since 2008.
The 2014 American Eagle platinum bullion coins being struck under the U.S. Mint’s resurrected bullion coin program are being produced on planchets fabricated in Australia.
The U.S. Mint resumed production Jan. 30 at the West Point Mint of the 1-ounce .9995 fine platinum bullion coins.
The U.S. Mint has no current plans to strike half-ounce, quarter-ounce and tenth-ounce fractional versions, although some of the Mint’s authorized purchasers report investor and collector interest.
The 2014 coins are the first American Eagle platinum bullion coins struck since the U.S. Mint suspended output late in 2008.
Authorized purchasers will be able to place orders for the 2014 coins on March 10.
U.S. Mint spokesman Michael White said Feb. 26 that the only platinum planchet fabricator qualified for production quantities is Gold Corporation, which operates the Perth Mint in Perth, Australia.
The planchets being supplied have their rims slightly raised, or upset, White said. The planchets are universal planchets used for both Proof and bullion coins, he said.
Currently, the only U.S. producer of platinum and palladium is Stillwater Mining Company in Montana. U.S. Mint officials have not disclosed whether Stillwater is the source for the metal being used for the platinum coin program.
November 2008 is the last month the U.S. Mint recorded sales of any platinum bullion coins, with sales of 800 of the $50 face value half-ounce coins.
October 2008 was the last month the Mint sold all four sizes of platinum bullion coins, including the quarter-ounce $25 coins and tenth-ounce $10 coins.