Initial orders for 2017 American Eagle platinum bullion coins will be
accepted by the U.S.
Mint from authorized purchasers beginning Jan. 23.
The preliminary orders for the 1-ounce .9995 fine platinum bullion
coins bearing a $100 face value will be accepted on an allocated
basis. U.S. Mint officials did not disclose how many coins will be
made available in the initial offering, but the order size the Mint
will accept from each approved buyer will be based on the size of
their previous bullion coin purchases.
“After depletion of the initial inventory, the United States Mint
may offer additional quantities for release later in 2017,” according
to a notice sent to the authorized purchasers from the Mint.
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The U.S. Mint’s last two offerings of American Eagle 1-ounce
platinum bullion coins, in 2014 and 2016, were on a limited basis. The
authorized purchasers absorbed all of the 14,000 coins offered in 2014
and all of the 20,000 coins in 2016. None were offered in 2015.
The 2014 coins were the first the Mint offered since suspending
sales late in calendar year 2008. 2014 was also the last year the U.S.
Mint offered fractional versions of the platinum bullion coins. The
platinum American Eagle was first introduced in 1997.
How does a normal collector or investor go about getting an
American Eagle platinum bullion coin?
The U.S. Mint does not offer its American Eagle bullion coins
directly to the public. The coins are offered instead to a network of
approved firms, who are referred to as authorized purchasers and who
offer a two-way market buying and selling the coins.
The authorized purchasers buy the coins from the Mint based on the
closing London PM spot price of the metal per troy ounce on a given
day plus a 4 percent premium.
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 9:29 a.m. on Jan. 19, one ounce of platinum was valued at
$952, according to Kitco.
For a little context, one ounce of gold was valued at $1,199.60, and
one ounce of silver was valued at $16.79.
There is another American Eagle platinum coin the U.S. Mint sells, right?
Yes, that would be the Proof American Eagle platinum coin. Those
have been sold every year since 1997. The Proof coins are not sold to
authorized purchasers only, but are offered as collectibles directly
to the public, like all other Mint collector items.
The Mint on June 30 opened sales for its Proof 2016-W American Eagle platinum coin, and
they proved popular. All 10,000 of the 2016 coins sold during the first
hour of sales.
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.
For the 20th anniversary of the American Eagle platinum program in
2017, all versions of the coins will bear the original designs from 1997.