The American Platinum Eagle is the official
platinum bullion coin of the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
. In 1995,
Director of the United States Mint
The director of the United States Mint is a presidential appointment that requires a Senate confirmation. The incumbent is Ventris Gibson, who became director of the Mint on June 22, 2022, after serving in acting capacity.
When the position ...
Philip N. Diehl,
American Numismatic Association
The American Numismatic Association (ANA) is an organization founded in 1891 by George Francis Heath. Located in Colorado Springs, Colorado, it was formed to advance the knowledge of numismatics (the study of coins) along educational, histori ...
President David L. Ganz, and Platinum Guild International Executive Director Jacques Luben began the legislative process of creating the Platinum Eagle. After over two years of work, the 99.95% fine platinum coins were released by the
United States Mint
The United States Mint is a bureau of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce, as well as controlling the movement of bullion. It does not produce paper money; tha ...
in , , and 1
troy oz denominations. In late 2008, the fractional denominations were discontinued, leaving only the one ounce denomination. The Platinum Eagle is authorized by the
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washing ...
, and is backed by the United States Mint for weight, content, and purity.
Proof versions of the coins are intended for
coin collectors
Coin collecting is the collecting of coins or other forms of minted legal tender.
Coins of interest to collectors often include those that were in circulation for only a brief time, coins with mint errors, and especially beautiful or historic ...
and sold directly to the public whereas the bullion versions are sold only to the Mint's authorized buyers. The proof American Platinum Eagles are unique in the fact that they are the only U.S. bullion coins that have a yearly alternating design.
Bullion
Bullion is non-ferrous metal that has been refined to a high standard of elemental purity. The term is ordinarily applied to bulk metal used in the production of coins and especially to precious metals such as gold and silver. It comes from t ...
versions are minted with the same design every year. While minted, the
uncirculated Platinum Eagles matched the proof designs and were struck on
burnished coin blanks with a "W"
mint mark
A mint mark is a letter, symbol or an inscription on a coin indicating the mint where the coin was produced. It should not be confused with a mintmaster mark which is the mark of the mintmaster.
History
Mint marks were first developed to locate ...
signifying
West Point
The United States Military Academy (USMA), also known Metonymy, metonymically as West Point or simply as Army, is a United States service academies, United States service academy in West Point, New York. It was originally established as a f ...
, further distinguishing them from the bullion versions.
Denominations
The , , and troy oz coins are identical in design to the 1 troy oz coin except for the markings on the reverse side that indicate the weight and face value of the coin (for example, ''.9995 PLATINUM 1 OZ.''). As is often the case with bullion coins, the
face value
The face value, sometimes called nominal value, is the value of a coin, bond, stamp or paper money as printed on the coin, stamp or bill itself by the issuing authority.
The face value of coins, stamps, or bill is usually its legal value. Howe ...
s of these coins ($10, $25, $50, and $100) are their legal values reflecting their issue and monetized value as coins. They are legal tender for all debts public and private at their face values. The 1 troy oz coin's face value of $100 is the highest to ever appear on a U.S. coin.
The specifications of each denomination are presented below:
Value
The intrinsic values of the coins are much greater than their face values. In one notable case, this was involved in a money laundering and tax evasion case where defendant Robert Kahre paid employees a wage in bullion coins with a fair intrinsic value but a very low face value, then proceeded to use the low face values to claim zero tax withholdings, allegedly defrauding a total of $120 million.
Yearly designs
All denominations of the proof American Platinum Eagles carry a yearly design. Since 1998, each design aside from the 2017
reverse
Reverse or reversing may refer to:
Arts and media
* ''Reverse'' (Eldritch album), 2001
* ''Reverse'' (2009 film), a Polish comedy-drama film
* ''Reverse'' (2019 film), an Iranian crime-drama film
* ''Reverse'' (Morandi album), 2005
* ''Reverse'' ...
commemorating the 20th anniversary of the program, has been part of a themed series:
* 1998–2002: The ''Vistas of Liberty'' series featured reverse designs depicting a bald eagle in a different landscape of the United States, in a different region of the country.
* 2006–2008: The ''Foundations of Democracy'' series featured reverse designs representing the three branches of government.
* 2009–2014: ''The Preamble to the Constitution'' series explored the core concepts of American democracy by highlighting the
Preamble to the United States Constitution
The Preamble to the United States Constitution, beginning with the words We the People, is a brief introductory statement of the Constitution's fundamental purposes and guiding principles. Courts have referred to it as reliable evidence o ...
. The themes for the reverse designs for this program are inspired by narratives prepared by
Chief Justice of the United States,
John Roberts
John Glover Roberts Jr. (born January 27, 1955) is an American lawyer and jurist who has served as the 17th chief justice of the United States since 2005. Roberts has authored the majority opinion in several landmark cases, including ''Nati ...
, at the request of the United States Mint.
* 2015–2016: The ''Torches of Liberty'' series featured reverse designs from the
Artistic Infusion Program The Artistic Infusion Program (AIP) is a program of the United States Mint, established in 2003, which invites American artists to create designs for U.S. coins and medals, most notably the 50 State, DC and US Territories, and America the Beautif ...
which represent the "nation's core values of liberty and freedom".
* 2018–2020: The ''Preamble to the Declaration of Independence'' series features
obverse
Obverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags, seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, ''o ...
designs portraying
Lady Liberty and handwritten single-word inscriptions from the
Declaration of Independence
A declaration of independence or declaration of statehood or proclamation of independence is an assertion by a polity in a defined territory that it is independent and constitutes a state. Such places are usually declared from part or all of the ...
in addition to a new common reverse design. It is the first series to vary obverse designs, all created concurrently by the same designer, rather than reverse designs.
* 2021–2025: The ''First Amendment to the United States Constitution'' series highlights five freedoms enshrined in the
First Amendment
First or 1st is the ordinal form of the number one (#1).
First or 1st may also refer to:
*World record, specifically the first instance of a particular achievement
Arts and media Music
* 1$T, American rapper, singer-songwriter, DJ, and rec ...
.
Tenth anniversary set
On November 28, 2007, the U.S. Mint announced the American Eagle 10th Anniversary Platinum Coin Set. Intended to commemorate the 10th anniversary of the Platinum Eagle's 1997 launch, the set contained two half-ounce ($50) Platinum Eagles, one matching the 2007 proof strike from earlier in the year and the other carrying an enhanced
reverse proof
Reverse or reversing may refer to:
Arts and media
* ''Reverse'' (Eldritch album), 2001
* ''Reverse'' (2009 film), a Polish comedy-drama film
* ''Reverse'' (2019 film), an Iranian crime-drama film
* ''Reverse'' (Morandi album), 2005
* ''Reverse'' ...
finish with the same design. This first offering of a reverse proof version of the Platinum Eagle followed the prior year's release of similar sets for the
American Silver Eagle
The American Silver Eagle is the official silver bullion coin of the United States.
It was first released by the United States Mint on November 24, 1986. It is struck only in the one-troy ounce, which has a nominal face value of one dollar and ...
and
American Gold Eagle
The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. Because the term "eagle" also is the official United ...
's 20th anniversary.
In addition to being accompanied by a
certificate of authenticity
A certificate of authenticity (COA) is a seal or small sticker on a proprietary computer program, t-shirt, jersey, or any other memorabilia or art work, especially in the world of computers and sports. It is commonly a seal on paper authentic ...
, the coins were encased in a domed mahogany box designed to display the coins at an angle.
The set's release on December 13, 2007, at a price of $1,949.95 (around $475 above platinum
spot
Spot or SPOT may refer to:
Places
* Spot, North Carolina, a community in the United States
* The Spot, New South Wales, a locality in Sydney, Australia
* South Pole Traverse, sometimes called the South Pole Overland Traverse
People
* Spot (prod ...
) with a seven-day one-set-per-household limit was met with strong collector interest.
First week sales reached 14,682 units, almost half of the maximum ordered mintage of 30,000 units. However, due to fluctuations in the price of platinum, the Mint suspended sales on February 13, 2008, and resumed sales about a month later at $2,649.95. Initially, the increased price constituted a larger premium, around $635, above spot. The following months brought a decline in platinum's price below $1,000 per troy oz, precipitating further suspensions and a final price of $1,249.95. When sales were officially ended on December 31, 2008, over a year after its initial release, the Mint reported total sales of 19,583 units.
Mintage figures
The figures listed below are the final audited mintages from the U.S. Mint and include coins sold both individually and as part of multi-coin sets. Since 2009, only the $100 (1 troy oz) denomination has been offered.
Bullion
Bullion Platinum Eagles were not issued from 2009 to 2013. Similarly, in 2015, due to an insufficient quantity of blanks, no bullion Platinum Eagles were issued.
Proof
Uncirculated (burnished)
See also
*
American Gold Eagle
The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. Because the term "eagle" also is the official United ...
*
American Silver Eagle
The American Silver Eagle is the official silver bullion coin of the United States.
It was first released by the United States Mint on November 24, 1986. It is struck only in the one-troy ounce, which has a nominal face value of one dollar and ...
*
American Palladium Eagle
The American Palladium Eagle is the official palladium bullion coin of the United States. Each coin has a face value of $25 and is composed of 99.95% fine palladium, with 1 troy ounce actual palladium weight.
History
The Palladium Eagle was aut ...
*
Canadian Platinum Maple Leaf
The Canadian Platinum Maple Leaf is the official bullion platinum coin of Canada. First issued by the Royal Canadian Mint in 1988, it was available until 2002 in five different denominations, all of which are marked as containing .9995 pure plat ...
*
Eagle (U.S. coin)
The eagle was a United States $10 gold coin issued by the United States Mint from 1792 to 1933.
The eagle was the largest of the five main decimal base-units of denomination used for circulating coinage in the United States prior to 1933, the y ...
*
Inflation hedge An inflation hedge is an investment intended to protect the investor against (hedge) a decrease in the purchasing power of money (inflation). There is no investment known to be a successful hedge in all inflationary environments, just as there is no ...
*
Platinum coin
Platinum coins are a form of currency. Platinum has an international currency symbol under ISO 4217 of XPT. The issues of legitimate platinum coins were initiated by Spain in Spanish-colonized America in the 18th century and continued by the Rus ...
*
Platinum as an investment
Platinum as an investment has a much shorter history in the financial sector than gold or silver, which were known to ancient civilizations. Experts posit that platinum is about 15–20 times scarcer than gold, on the basis of annual mine producti ...
*
Trillion-dollar coin
The trillion-dollar coin is a concept that emerged during the United States debt-ceiling crisis of 2011 as a proposed way to bypass any necessity for the United States Congress to raise the country's borrowing limit, through the minting of very ...
References
External links
United States Mint American Eagle Coin Program pageUnited States Mint American Eagle Platinum Bullion Coins pageUnited States Mint American Eagle Proof and Uncirculated Coin Program pageUnited States Mint American Eagle Coin Images page*
Platinum Eagle Guide
{{Statue of Liberty
Currencies introduced in 1997
Statue of Liberty
Goddess of Liberty on coins
Eagles on coins
Sun on coins
Bullion coins of the United States
Platinum bullion coins