Platinum took a mad dash upward earlier today, breaking another new record of $1,803.80 an ounce on the New York Mercantile Exchange (NYMEX). Investors watching the power shortage problems in South Africa, who produce four-fifths of the world’s platinum, bet on a constricting supply.
“Mine output disruptions continue to fuel the rally” in platinum, Jon Nadler, senior analyst for Kitco Bullion Dealers Montreal said in a research note. “With 80 percent or so of global supplies coming from the very mines affected by electricity woes, this is not a surprise.”
Platinum finally closed at $1,797.60 on NYMEX and was up $27.40 for the day. Gold and silver were slightly down for the day.
American Eagle Platinum coins see price increases
Sales of United States Mint bullion coins have gone through several suspensions in recent months due to the rise in metal prices. US Mint Uncirculated American Eagle Platinum coins have been hit with a couple of these suspensions, but they’re now back on sale with new adjusted prices.
The following chart shows old and adjusted American Eagle platinum coin prices:
| Uncirculated Platinum American Eagle (2007) |
Suspended Price |
Suspended Price, Rnd 2
|
Latest Price
|
Latest $ Increase
|
Latest % Increase
|
| One-ounce |
$1,489.95
|
$1,630.95
|
$1,869.95
|
$239
|
14.65%
|
| Half-ounce |
$759.95
|
$830.95
|
$949.95
|
$119
|
14.32%
|
| Quarter-ounce |
$399.95
|
$435.95
|
$499.95
|
$64
|
14.68%
|
| Tenth-ounce |
$189.95
|
$204.95
|
$229.95
|
$25
|
12.20%
|
| Four-coin set |
$2,769.95
|
$2,976.95
|
N/A
|
N/A
|
N/A
|
American Eagle 10th Anniversary Platinum Set is a much better buy
Given the increases in coin prices and that of platinum, a person could wish they had made the buying decision prior to one of the suspensions.
Interestingly, there is one coin set that hasn’t changed in price since it went on sale. That’s the special collector’s American Eagle 10th Anniversary Platinum Set with a limited mintage of 30,000.
Included in the set is one proof coin and, for the first time ever, one enhanced reverse proof platinum coin. The two coins in the set each contain one-half ounce of .9995 platinum.
They went on sale Nov. 28, 2007 for $1949.95. At that time, platinum was hovering in the $1,420 an ounce range.
This set is still available and for the same price. With platinum now $1,797.60, it is now a much better buy.
2008 Platinum, London Fix charted by Kitco.com
![[Most Recent Quotes from www.kitco.com]](http://www.kitco.com/LFgif/pt2008.gif)
I want to know what is price for Platinum Eagle issued in 1998 and 1999? The price of Platinum Proof Set in 1997 was $1350. How much is it now?
I agree that the 10th Anniversary Sets present an excellent buy. I wish the Mint would let me buy more than one!