US Coins

American Eagle palladium coin on sale Sept. 7

The Uncirculated 2023-W American Eagle palladium coin will go on sale from the United States Mint starting Sept. 7.

Original images courtesy of the United States Mint.

The Uncirculated 2023-W American Eagle palladium coin will go on sale from the United States Mint starting Sept. 7.

The numismatic version of the American Eagle 1-ounce coin will be the only palladium coin released by the U.S. Mint in 2023. No bullion coin versions are planned, according to Mint officials.

The numismatic product, according to Mint officials, will be limited to 6,000 Uncirculated coins, with a maximum per order of 10 coins. The price will be set based on the market price of palladium a few days before the launch of sales for the coin. The 2019, 2020, 2021 and 2022 coins, all still available for purchase from the U.S. Mint, are currently priced at $2,150 each.

The American Eagle palladium $25 coin has been offered in bullion and various numismatic forms since 2017. The palladium coin was first introduced in 2017 in a bullion version, of which 15,000 were sold to authorized purchasers. Since then, the coin has been offered in a Proof version in 2018, a Reverse Proof version in 2019, an Uncirculated version in 2020, two coins in 2021 (both a standard Proof 2021-W coin and a surprise bullion version later in 2021), a Reverse Proof version in 2022, and now a second Uncirculated version in 2023.

Some previous editions have sold quickly and some slowly, Mint sales records indicate; few sellouts are recorded, even with reduced mintages. The 2019 to 2022 numismatic issues remain listed in the Mint’s catalog, marked "unavailable" but with a “remind me” option.

Fast and not so fast

In less than five minutes, orders placed Sept. 6, 2018, for the Proof 2018-W American Eagle $25 palladium coin were sufficient to put the numismatic product into “Currently Unavailable” status. The product was limited to a maximum release of 15,000 coins; the Mint sold 14,782 examples on the first day. The latest sales figure is 14,986 coins.

Slightly less than one-third of the maximum 30,000 Reverse Proof 2019-W American Eagle palladium $25 coins offered by the U.S. Mint were sold during the first day of sales Sept. 12, 2019. The current sales total is 18,773 pieces.

For the 2020-W version of the palladium coin, offered with an Uncirculated finish, 10,000 coins were made available Sept. 24, 2020, with 9,135 coins selling that first day, priced at $3,000. Mint totals now indicate sales of 9,742 pieces.

The Proof 2021-W American Eagle $25 palladium coins, despite a product limit of 12,000 coins, got off to a slow start. On the first day of sales in 2021, the Mint reported orders were successfully placed for 2,222 coins, 18.5% of the total number available. Current sales sit at 5,169 pieces, less than 50% of the maximum. The Mint reported that 8,700 of its 2021 American Eagle palladium bullion coins were sold, all struck at the Philadelphia Mint without Mint mark.

Nearly two-thirds of the maximum release of 7,500 Reverse Proof 2022-W American Eagle palladium $25 coins were sold during that year’s first day of sales Sept. 29 by the U.S. Mint — the Mint reported sales of 4,679 coins. Current total sales are at 7,354 pieces.

The coin’s designs are repurposed from works by American sculptor Adolph A. Weinman.

The obverse of the American Eagle $25 palladium coin replicates Weinman’s design introduced in 1916 for the Winged Liberty Head dime.

Weinman’s Eagle reverse for the palladium coin mimics his design rendered in 1906 for the reverse of an American Institute of Architects gold medal first presented in 1907.

Most American Eagle palladium coins are struck at the West Point Mint; only the numismatic versions bear the facility’s W Mint mark.

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