No palladium American Eagle bullion coins
Published: Oct 2, 2018, 6 AM
No American Eagle palladium bullion coins will be struck and issued by the U.S. Mint in 2018, bureau officials announced Sept. 27.
The only American Eagles struck in palladium to be issued in 2018 are the 15,000 Proof 2018-W coins offered by the Mint Sept. 6. The bureau is still reconciling orders placed Sept. 6 that exhausted the number of coins offered within five minutes of their release. The Mint’s Sept. 23 sales report indicates 14,881 of the 15,000 coins are sold.
Inside Coin World: Junk boxes offer a lot for a little: Reports about junk box “treasures” and what else a discovery of Roman treasure coins reveals in England are just two of the articles found exclusively in Coin World.
Also, according to Mint spokesman Michael White, the 30,000 2018 American Eagle platinum bullion coins struck at the West Point Mint and sold to authorized purchasers so far this year comprise the entire 2018 mintage for that bullion version.
The U.S. Mint first began accepting orders for the American Eagle platinum bullion coins on Feb. 12, 2018, when 20,000 coins were made available. The Mint reported a temporary sellout on Feb. 14 while additional production was executed. An additional 10,000 coins were offered to authorized purchasers on May 18 and sold out the same day.
No additional platinum bullion coin production is scheduled.
U.S. Mint officials indicated earlier in the year that American Eagle platinum bullion coins would be struck to meet demand. There was also an indication that a palladium bullion coin release was in the Mint’s production schedule but that has since been canceled.
Although investment demand continues for the American Eagle platinum bullion coins, overall production has been sporadic, with limited mintages.
In 2014, the Mint sold 16,900 of the 1-ounce coins, the first time since 2008 that the Mint offered any American Eagle platinum bullion coins; in 2015, none were produced; 20,000 were struck and sold in 2016; and in 2017, 20,000 pieces were sold.
U.S. Mint officials have not indicated whether an American Eagle palladium bullion coin will be introduced in 2019 or later.
The U.S. Mint does not sell its bullion coins to the public. Instead, the Mint sells the coins through several authorized purchasers, who offer a two-way market buying and selling coins, which the Mint does not. The Mint sells the coins based on the closing PM spot price of the precious metal on a given day plus a small premium. The authorized purchasers may then sell the coins to investors or secondary market distributors at a small premium.
Connect with Coin World:
MORE RELATED ARTICLES