President Bill Clinton signed into law the authorization for the U.S. Mint to begin producing platinum coins on Sept. 30, 1996. The first American Eagle platinum bullion coins were struck in 1997.

By the time the United States started platinum coin production, many countries, including China, Russia, Australia, Isle of Man and Canada, had already been producing platinum coins for many years. The United States' only platinum mine and production facility is located in Montana.

The new coins went on sale June 6, 1997, in four denominations: $10, $25, $50 and $100 – the latter having the distinction of being the highest denomination coin ever struck by the U.S. Mint.

The platinum coins have been struck at the U.S. Mint at West Point, and Proof and Uncirculated versions bear the W Mint mark. Due to the hardness of platinum, the coins must be struck several times for their designs to strike up properly.

The Proof issues in the series depict a new design on the reverse each year. The obverse – common to all coins – depicts the Statue of Liberty. The common reverse for bullion coins and the Proof 1997 issues show a bald eagle soaring across a setting sun.

Several design series have inspired the reverse motifs. From 1998 to 2002, Proof versions carried designs created under a program titled "Vistas of Liberty" that featured a bald eagle depicted over different regions of the United States. From 2006 to 2008 another series, "The Foundations of Democracy," inspired designs representing the three branches of government.

In 2009, the U.S. Mint presented a new reverse design series with designs inspired by the United States Constitution Preamble. The narratives were prepared by the Chief Justice of the United States, John G. Roberts Jr., at the request of the United States Mint.

Starting in 2009, an American Eagle "privy mark" was included on the reverse of the Proof American Eagle platinum coins. According to a Mint official, the mark was added to the reverse to maintain the "American Eagle Brand." The punch was derived from an original "coin punch" identified at the Philadelphia Mint.

American Eagle platinum bullion coins were not struck in 2009 and 2010. In 2010, only Proof 2010-W American Eagle 1-ounce platinum coins were struck in the American Eagle platinum coin program. In 2006 through 2008, special Uncirculated issues with a burnished surface were produced for collectors. They carry the same reverses as the Proof coins of those years.