New Proof platinum Eagle 'unavailable' after one hour
- Published: Jun 30, 2016, 9 AM
Collector demand was so strong for the Proof 2016-W American Eagle platinum $100 coin that the limited-edition product was placed in "Currently Unavailable" status within the first hour of sales June 30.
The 2016-W coin, offered by the U.S. Mint at $1,350 per coin, was limited to a maximum mintage of 10,000 coins, with orders restricted to one coin per household.
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The Proof 2015-W American Eagle platinum coin had a 4,000-coin limit, which sold out the same day the coins were first offered, Dec. 3.
So is it sold out?
"Currently Unavailable," the current status of the 2016-W coin, is explained by the Mint this way: "We are currently out of this item, but more may be available later. Provide your email using the 'REMIND ME' button and we will let you know when we are taking orders again."
Other notable statuses include:
- Sold Out: When all inventory of products has been depleted, taking into account cancellations and other factors.
- Back Order: When products are in “Back Order” status, this means that the product is available for sale; however, there is no inventory in stock and a future ship date is displayed on the Mintwebsite.
The story behind the design
The coin's obverse bears a modern rendition of Liberty as represented by the Statue of Liberty. The obverse has appeared on all versions of the American Eagle platinum coin since the series was introduced in 1997. John Mercanti, sculptor-engraver for the U.S. Mint at the time, designed and sculptured the design.
The "Torch of Enlightenment" reverse design for 2016 reflects the nation's core values of liberty and freedom. The design depicts Liberty holding a torch of enlightenment in her right hand and an olive branch in her left to symbolize peace. The 13 olives represent the 13 original colonies. A bald eagle with outstretched wings appears beside Liberty.
United States Mint Artistic Infusion Program artist Paul C. Balan executed the 2016 reverse design; it was sculpted by U.S. Mint Medallic Sculptor Joseph F. Menna.
The 2016 coin is the second in the two-year Torches of Liberty series.
This is not the first platinum American Eagle to fly off the shelves
All 4,000 of the Proof 2015-W American Eagle platinum $100 coins made available on Dec. 3, 2015, were snatched up in less than 10 minutes.
That's impressive considering the coin had a $1,200 price and a household ordering limit of just one coin.
The 2015 coin bears a reverse titled "Liberty Nurtures Freedom," showing Liberty feeding an American bald eagle that represents Freedom.
The 2016 coin is packaged in a custom-designed presentation case, allowing the 2015 and 2016 coins to be displayed together.
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