The U.S. Mint's
first-day sales Jan. 23 to its authorized purchasers of 20,000 2017 American
Eagle platinum bullion coins already matches the bureau’s 2016 allocation.
U.S. Mint officials announced before the 1-ounce .9995 platinum $100
coins were put on sale that there would be an initial offering of the
platinum coins on an allocation basis, with additional coins offered
based on demand. U.S. Mint officials have not disclosed how many of
the 2017 American Eagle platinum bullion coins will be produced.
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The U.S. Mint allocated a maximum 20,000 of the coins in 2016 when
they were put on sale in July. Sales reached 19,000 on the first day
the coins were offered, but it took several weeks before the remaining
1,000 coins were sold.
The Mint sold 14,000 American Eagle 1-ounce platinum bullion coins
in 2014, the first time since 2008 that any platinum bulion coins were
offered by the Mint. No American Eagle platinum bullion coins were
offered by the U.S. Mint in 2015.
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Every numismatist who wants to put together a valuable and viable
U.S. coin collection needs to know how a coin gets its grade.
Bullion coins struck by the U.S. Mint are not sold directly to the
public. Instead, they are sold to a network of authorized purchasers
who offer a two-way marklet buying and selling the coins. The
authorized purchasers buy the coins from the Mint based on the closing
London PM spot per troy ounce of the metal plus a small premium. The
coins are then sold into the secondary market to other dealers and the
public at separate markups.