2016 American Eagle 1-ounce platinum bullion coins will be offered
for sale by the U.S. Mint to its authorized purchasers beginning July 25.
Unlike the Mint's annual issues of American Eagle gold and silver
bullion coins, its platinum product has been offered only
occasionally. The 2016 offering is the second by the U.S. Mint since
late in calendar year 2008. The U.S. Mint sold 16,900 of the 1-ounce
platinum $100 bullion coins in 2014, the last time it offered the
platinum bullion coins.
When bullion sales begin July 25, the authorized purchasers will be
able to place orders for the coins under an allocation system that is
based on previous order placements for the bullion coins.
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Sales will continue until the Mint's inventory of the .9995 fine
platinum $100 coins is depleted. Mint officials have not disclosed how
many total coins will be made available nor details of how the coins
will be distributed under the allocation process.
Wait, wasn't the Mint
just selling platinum American Eagle coins in June?
Yes, but it was a different kind of American Eagle platinum coin.
The Mint on June 30 opened sales for its Proof 2016-W American Eagle platinum coin.
Though American Eagle platinum bullion coins haven't been offered
since 2014, Proof versions of the coin have been issued every year
since the platinum's inauguration in 1997.
Proof coins have a special finish and are meant as collector items.
Bullion coins, on the other hand, serve as a means to invest in the
precious metal they're made from — in this case, platinum.
The Proof platinum coins were popular. All 10,000 of the 2016 coins sold during the first
hour of sales.
Because of the two products' differing purposes — collector item
versus precious metal investment — the strong performance of the Proof
coins doesn't help forecast platinum bullion coin demand and how many
bullion coins the Mint will sell.
How does a normal
collector or investor go about getting a American Eagle platinum
The U.S. Mint does not offer its American Eagle bullion coins to the
public. The coins are offered instead to a network of approved firms,
who are referrred to as authorized purchasers, who offer a two-way
market buying and selling the coins.
The authorized purchasers buy the coins based on the closing London
PM spot price of the metal per troy ounce on a given day plus a 4
The coins are then resold to other dealers, collectors and investors
for a further markup.
Learn more about how the bullion market works.
What's the value of
platinum these days?
As of 12:39 p.m. on July 21, one ounce of platinum was valued at
$1,102, according to Kitco.
For a little context, one ounce of gold was valued at $1,330.30, and
one ounce of silver was valued at $19.675.
The price of platinum has climbed since the beginning of the year,
when it was hovering around $900 per ounce.