American Platinum Eagle

Last updated
Platinum Eagle
United States
Value10–100 U.S. dollars (face value); see denominations
EdgeReeded
Composition99.95% Pt
Years of minting1997–2008, 2014, 2016–present (bullion)
1997–present (proof)
2006–2008 (uncirculated)
Obverse
Platinum Obverse.png
Bullion (1997–present), Proof (1997–2017)
Design"Liberty Looking to the Future" [1]
Designer John Mercanti
Design date1997
Reverse
American Platinum Eagle 2007 Rev.jpg
Bullion (1997–present), Proof (2017)
Design"Soaring Eagle over America"
Designer Thomas D. Rogers
Design date1997
American Platinum Eagle New 2018 Proof Reverse.jpg
Proof (2018–present)
DesignFlying eagle with olive branch
DesignerPatricia Lucas-Morris [2]
Design date2018

The American Platinum Eagle is the official platinum bullion coin of the United States. In 1995, Director of the United States Mint Philip N. Diehl, American Numismatic Association 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 in 110, 14, 12 and 1 troy oz denominations. In late 2008, the fractional denominations were discontinued, leaving only the one ounce denomination. [3] The Platinum Eagle is authorized by the United States Congress, [4] and is backed by the United States Mint for weight, content, and purity.

Contents

Proof versions of the coins are intended for coin collectors and sold directly to the public whereas the bullion versions are sold only to the Mint's authorized buyers. [5] 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 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 signifying West Point, further distinguishing them from the bullion versions. [6]

Denominations

A
1/10 troy oz. bullion strike bears the .9995 PLATINUM 1/10 OZ. inscription. 1998 Tenth Ounce American Platinum Eagle.jpg
A 110 troy oz. bullion strike bears the .9995 PLATINUM 1/10 OZ. inscription.

The 110, 14, and 12 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 values 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. [6]

The specifications of each denomination are presented below: [7]

DenominationDiameterThicknessWeight
$10 (110 troy oz)16.5 mm (0.65 in)0.95 mm (0.037 in)0.1001 ozt (3.11 g)
$25 (14 troy oz)22.0 mm (0.87 in)1.32 mm (0.052 in)0.2501 ozt (7.78 g)
$50 (12 troy oz)27.0 mm (1.06 in)1.75 mm (0.069 in)0.5003 ozt (15.56 g)
$100 (1 troy oz)32.7 mm (1.29 in)2.39 mm (0.094 in)1.0005 ozt (31.12 g)

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, defrauding a total of $120 million. [8] [9]

Yearly designs

All denominations of the proof American Platinum Eagles carry a yearly design. Since 1998, each design aside from the 2017 reverse commemorating the 20th anniversary of the program, has been part of a themed series: [6]

YearDesignDescriptionDesigner & Sculptor
1997 1997 AEPlat Rev.png Soaring Eagle Above America [1] Thomas D. Rogers [11]
1998 1998 AEPlat Rev.png Bald eagle flying over New England and rocky beach town with light house; full moon in skyThomas D. Rogers [11]
1999 1999 AEPlat Rev.png Bald eagle flying above Southeastern Wetlands and alligator crawling in a swampAl Maletsky [11]
2000 2000 AEPlat Rev.png Bald eagle flying above Midwestern field, barn and houseAl Maletsky [11]
2001 2001 AEPlat Rev.png Bald eagle flying above giant Saguaro cacti of the Southwest (specifically Arizona)Thomas D. Rogers [11]
2002 2002 AEPlat Rev.png Swooping bald eagle and a lake bordered by snowcapped mountains and trees in the Northwestern USAl Maletsky [11]
2003 2003 AEPlat Rev.png Bald eagle perched on a Rocky Mountain pine branch against a backdrop of the United States Flag Al Maletsky
2004 2004 AEPlat Rev.png Engraving inspired by the Daniel Chester French sculpture titled America outside the U.S. Customs House in New York City.Donna Weaver
2005 2005 AEPlat Proof Rev.png American bald eagle perched on a heraldic shield with symbols representing America's strength and beautyDonna Weaver
2006 American Platinum Eagle 2006 Proof Rev.jpg "Legislative Muse" flanked by two eagles perched on columns representing the bicameral legislature of the United States Congress Designer: Joel Iskowitz
Sculptor: Don Everhart
2007 American Platinum Eagle 2007 Proof Rev.jpg American bald eagle representing the Executive BranchDesigner: Tom Cleveland
Sculptor: Phebe Hemphill
2008 American Platinum Eagle 2008 Proof Rev.jpg "Lady Justice" watched over by an American bald eagle representing the Judicial BranchDesigner: Joel Iskowitz
Sculptor: Charles Vickers
2009 2009AEPlatinumProofRev.jpg To Form a More Perfect Union

"Four faces representing the diversity of our Nation, with the clothing and hair weaving together symbolizing the principle" [15]

Designer: Susan Gamble
Sculptor: Phebe Hemphill [15]
2010 2010 American Platinum Eagle Proof Reverse.jpg To Establish Justice

"A blindfolded justice–symbolizing impartiality–holding traditional scales and carrying a branch of laurel" [16]

Designer: Donna Weaver
Sculptor: Phebe Hemphill [16]
2011 US Mint Platinum eagle reverse 2011 promote domestic tranquility.jpg To Insure Domestic Tranquility

"Harvest goddess emerging from a field of wheat, symbolizing the vastness of our Nation and its wide diversity of views. She bears a a[ sic ] stalk of wheat in her left hand, as she extends her right hand to a landing dove, representing the fulfillment of tranquility in our Nation's cohesive yet free society" [17]

Designer: Joel Iskowitz
Sculptor: Phebe Hemphill [17]
2012 2012-PlatinumProof-rev.jpg To Provide for the Common Defence

"A vigilant minuteman from the Revolutionary War, representing the protection and defense of the country during its early days. The minuteman carries a rifle and a book, which symbolizes the importance of knowledge in defending our Nation" [18]

Designer: Barbara Fox
Sculptor: Charles L. Vickers [18]
2013 Platinum Reverse 13.png To Promote General Welfare

"Young America against a backdrop of interlocking gears, symbolizing the interconnection of power between the states and the national government" [19]

Designer: Joel Iskowitz [19]
2014To Secure the Blessings of Liberty to Ourselves and our Posterity

"Young Lady Liberty carrying her torch, symbolizing the hope and promise of America" [20]

Designer: Susan Gamble
Sculptor: Joseph Menna [20]
2015Liberty Nurtures Freedom

"Liberty and an American bald eagle, representing Freedom. The earth and sun with rays are in the foreground" [14]

Designer: Joel Iskowitz
Sculptor: Phebe Hemphill [14]
2016 2016 American Platinum Eagle Reverse.jpg "Liberty holding a torch of enlightenment in her right hand and an olive branch in her left to symbolize peace. The olives represent the Thirteen Original Colonies. A bald eagle with its wings outstretched appears beside Liberty" [21] Designer: Paul C. Balan
Sculptor: Joseph Menna [21]
2018Life

"Lady Liberty planting seeds for future sustenance, lighting the way westward, and harvesting the well-worked crops" [2]

Designer: Justin Kunz
Sculptor: Phebe Hemphill [2]
2019Preamble to the Declaration of Independence

"Lady Liberty keeping watch over prairies, lakes, and mountains as pioneers head westward" [22]

Designer: Justin Kunz
Sculptor: Joseph Menna [22]

Tenth anniversary set

The 2007 American Platinum Eagle Coin Set in its mahogany enclosure. 2007 American Eagle 10th Anniversary Platinum Coin Set.jpg
The 2007 American Platinum Eagle Coin Set in its mahogany enclosure.

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 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 and American Gold Eagle's 20th anniversary. [23] In addition to being accompanied by a certificate of authenticity, the coins were encased in a domed mahogany box designed to display the coins at an angle. [24]

The set's release on December 13, 2007 at a price of $1,949.95 (around $475 above platinum spot) with a seven-day one-set-per-household limit was met with strong collector interest. [24] 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 in December 31, 2008, over a year after its initial release, the Mint reported total sales of 19,583 units. [23]

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. [25]

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. [14]

Year$10 – 110 oz.$25 – 14 oz.$50 – 12 oz.$100 – 1 oz.
199770,25027,10020,50056,000
199839,52538,88732,419133,002
199955,95539,73432,30956,707
200034,02720,05418,89210,003
200152,01721,81512,81514,070
200223,00527,40524,00511,502
200322,00725,20717,4098,007
200415,01018,01013,2367,009
200514,01312,0139,0136,310
200611,00112,0019,6026,000
200713,0038,4027,0017,202
200817,00022,80014,00021,800
2014---16,900
2016---20,000
2017---20,000
2018---30,000
2019---40,000

Proof

Year$10 – 110 oz.$25 – 14 oz.$50 – 12 oz.$100 – 1 oz.
1997-W36,99318,62815,43120,851
1998-W19,84714,87313,83614,912
1999-W19,13313,50711,10312,363
2000-W15,65111,99511,04912,453
2001-W12,1748,8478,2548,969
2002-W12,3659,2828,7729,834
2003-W9,5347,0447,1318,246
2004-W7,1615,1935,0636,007
2005-W8,1046,5925,9426,602
2006-W10,2057,8137,6499,152
2007-W8,1766,01725,5198,363
2008-W5,1384,1534,0204,769
2009-W---7,945
2010-W---9,871
2011-W---14,790
2012-W---9,081
2013-W---5,763
2014-W---4,596
2015-W---3,886
2016-W---9,151
2017-W---8,892
2018-W---13,724
2019-W---9,869

Uncirculated (burnished)

Year$10 – 110 oz.$25 – 14 oz.$50 – 12 oz.$100 – 1 oz.
2006-W3,5442,6762,5773,068
2007-W5,5563,6903,6354,177
2008-W3,7062,4812,2532,876

See also

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