Sales of Platinum Eagle 10th Anniversary Coin Sets End

by Mike Unser on January 2, 2009 · 3 comments

10th anniversary for the American Eagle Platinum coinsSales of the US Mint American Eagle 10th Anniversary Platinum Coin Set ended this week. Included in the set were two one-half ounce .9995 platinum coins. One was a standard proof and the other was a special enhances reverse proof, which was a first.

The sets had a limited mintage of 30,000. The latest Mint sales figures show 19,257 sold, indicating, like other Mint products, that they were likely pulled as part of the Mint’s move into 2009.

The 10th anniversary set had a storied line. The 2007-dated platinum coins launched on December 13, 2007 with a price tag of $1,949.95. London fix platinum at the time was around $1,420 an ounce, which meant the Mint was realizing a $171 premium over spot for the normal proof, and nearly $360 for the enhanced reverse. That caused some collectors pause.

2007 American Eagle 10th Anniversary Platinum Coin Set

Rising platinum prices forced the Mint to suspend sales of the sets in February of 2008. They returned in April with a much higher price tag of $2,649.95. But volatile bullion swings and the Mint’s static pricing policy with its silver, gold and platinum coins caused further disruptions.

Platinum prices plunged, and the Mint again removed the set from their online stores. This time for several months with many collectors believing they were gone for good. Then, surprisingly, the anniversary set returned in mid November and was marked down to its lowest and final Mint price of $1,249.95.

Up to that point, the Mint had sold some 18,047 sets. Secondary markets like eBay had listed selling prices ranging between $2,195.88 and $2,449.95. The Mint’s sudden and unexpected return of the coins shocked both sellers and recent buyers.

During the last several months, platinum reached as low as $788 an ounce on the London fix, which likely caused buyers further pause in purchasing the anniversary set.

eBay sellers may already be attuned to the Mint ending sales and spot platinum’s recent up trend as it closed on Friday to $926 an ounce. Current eBay auctions have BuyItNow prices for the sets ranging between $1,699 and $2,085.

Final US Mint sales figures should be known within the next week or so, and will be appended to this article.

[Editor’s note: For the last several weeks, US Mint sales figures for the 10th anniversary set have stayed at 19,583. This is likely to be the "final" mintage total.]

{ 3 comments… read them below or add one }

Stan February 5, 2009 at 5:41 pm

I assume that since you have not updated this article with the “final” sales figures for the 10th anniversary set, that the remaining 10,000 sets will probably go back on sale again, when the price of platinum reaches a profit point for the mint ($1,100 – $1,200 per ounce?).

Mike February 6, 2009 at 10:20 am

Stan, thanks for the reminder! It appears the final sales figure for the set will stand at 19,583.

I think it unlikely that the Mint would bring back the 2007 set for sale. I think any that remained were probably melted for new platinum coins.

However, the Mint did have their “last chance sale” late last year where they unexpectedly opened sales to old products they had kept on inventory shelves for years, so you never know. Although it is noteworthy that there were no older gold or platinum coins in the sale.

reuben December 31, 2009 at 3:55 pm

Dear sirs:
As any Numismatist knows condition and mintage are the two important factors in determining a coins future value. While Platinum is now low,it will not remain so. However,19,583 or so minted coins will always BE 19,583 making this coin with a reverse proof a future money maker. Its not necesarily the cost of the metal but rather how scarce a coin or set is. is. An example: the 1995 silver eagle -W which goes for aprox $5,998 in the Prestige pack. Time will tell what the platinum set will fetch for in the future.Those who have it and hold on to it will be pleasantly surprised in the future.

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