When the Proof 2016-W American Eagle platinum coin goes on sale from the U.S. Mint at noon Eastern Time June 30, a maximum of 10,000 coins will be up for purchase.
The initial sale price for the coin will be disclosed closer to the sale date, since the coin’s price is tied to the Mint’s pricing grid for gold and platinum coins.
The number of coins offered in the 2016-W release is two and a half times the number offered in 2015. The 4,000 Proof 2015-W American Eagle platinum coins sold out Dec. 3 in 10 minutes at a price of $1,200 per coin and a household ordering limit of one coin.
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U.S. Mint officials have not yet disclosed any household ordering restrictions for the 2016-W issue.
The West Point Mint is currently in full production for the 2016-W coins. While the established maximum number of coins to be released is 10,000, the West Point production facility will strike an undisclosed number of coins above that limit in reserve as replacements to accommodate product returns from customers.
The obverse of the Proof 2016-W American Eagle platinum $100 coin bears the portrait of the Statue of Liberty designed and engraved in 1997 by then U.S. Mint Sculptor-Engraver John Mercanti.
The obverse design has been used on the obverse of all Proof, Uncirculated and bullion American Eagle platinum coins issued since.
The reverse of the Proof 2016-W American Eagle platinum coin was designed by U.S. Mint Artistic Infusion Program Artist Paul C. Balan and sculptured by U.S. Mint Medallic Sculptor Joseph F. Menna. Balan’s design depicts an eagle in flight behind a gowned Liberty, her head facing right, with a flaming torch in her raised right hand and an olive branch held in her left.
The Proof platinum American Eagles are being struck on a Gräbener GMP 360 TK coinage press with the dies oriented vertically with the obverse as the upper hammer die and the reverse as the lower or anvil die. Because of the hardness of platinum, the Proof planchets are struck five times, with 140 metric tons of pressure exerted per strike.