U.S. Mint Re-Introduces Platinum Bullion Coins For Sale To Meet Pent up Demand
U.S. Mint Will Make 2016 American Eagle Platinum Bullion Coins Available To Dealers At The End of July.
The United States recently notified its dealers that it would begin dealer distribution of 2016 one ounce American Eagle Platinum Bullion coins to meet public demand. The U.S. Mint has produced platinum bullion coins intermittently since 1997. From 1997 – 2008 the U. S. Mint produce one tenth, one quarter, one half and one ounce American Eagle Platinum bullion coins. In 2014, the U.S. Mint produced 16,900 one ounce American Eagle Platinum Eagle coins but did not produce smaller denominated coins. This highly anticipated new release will likely have a relatively low mintage as well.
The 2016 American Eagle Platinum Bullion coin will be made available in the one ounce size only and available until inventory is exhausted. The U.S. Mint has not indicated the size of their 2016 American Platinum Eagle coin inventory though it is believed that dealers coins will be in limited quantity and on a strict allocation basis.
About the 2016 American Eagle Platinum Bullion Coin
The 2016 American Eagle Platinum Bullion coin is minted in .9995 pure platinum and weighs 1.0005 ounces. The coin has a reeded edges and a diameter of 32.7 mm. The obverse of the coin was designed by former United States Mint Chief Engraver John. M Mercanti and its reverse by former United States Mint Sculptor-Engraver Thomas D. Rogers Sr. The face value of the one ounce American Eagle Platinum bullion coin is $100 though the bullion value will far exceed that amount at time of release. .
Facts About Platinum
The symbol for Platinum is Pt
Platinum is considered a ‘precious metal’ along with gold, silver and palladium.
Platinum is about ten times rarer than gold.
Platinum is normally more expensive than gold and historically trades at a premium of about 1.1-1.5 times more than gold. Over the past two years, however, the price of gold has exceeded the price of platinum.
Platinum was discovered by the Spanish in 1735 in South America.
Platinum deposits were discovered in 1822 in the Ural Mountains in Russia.
Platinum is not historically a monetary metal, having been used in coins only in Russia in limited quantities in the 19th century
More than 80% of the world’s platinum is mined in just two countries, South Africa and Russia.
Platinum is used in jewelry with Japan and China representing the bulk of platinum jewelry demand.
Platinum’s primary industrial use is in automobile catalytic converters.
The U.S. Mint has not indicated whether it will produce platinum coins in the future. Given the intermittent U.S. Mint production schedule of platinum coins and limited number of platinum coins produced historically, the opportunity to buy current dated U.S. Minted platinum coins in a convenient and cost effective way may not be repeated.
You can pre-order your one ounce 2016 American Eagle Platinum Bullion coins by clicking here.
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.