Price Hike for 2012 American Platinum Eagle Proof Coin

by CoinNews.net on August 22, 2012 · 8 comments

2012 Proof Platinum Eagle

2012 American Platinum Eagle in Folder

The 2012-W American Platinum Eagle proof coin at $1,692.00 is one of the more expensive products offered by the United States Mint. Expect to pay more. Its price is likely to increase by $100 on Wednesday.

[Update: As expected, the U.S. Mint on Wednesday around noon ET raised the price of the Eagle to $1,792.00.]

Two factors are used to determine whether numismatic American Platinum Eagle prices will change, the weekly platinum average and the Wednesday PM platinum fixing.

First, the U.S. Mint tabulates daily London platinum fixings from the previous Thursday AM to the following Wednesday AM and calculates their average. That average is checked against a pre-defined pricing grid. Second, the Wednesday PM platinum fixing is used as a directional indicator that can trigger or stop adjustments.

Since the proof coin’s August 9, 2012 release, weekly platinum averages had been falling between $1,350.00 and $1,449.99 per ounce. But in the last several days, platinum’s average has moved up to $1,461.14 an ounce.

In a nutshell, what it comes down to is this:

  • If Wednesday’s AM price is above $1,371.95 and the PM price is $1,450.00 or more, then the price of the American Platinum Eagle will increase by $100.

  • If the Wednesday PM price is $1,449.99 or less, regardless of the AM price, then the price of the American Platinum Eagle will stay the same.

Should a price event be triggered and based on the norm this year, the U.S. Mint on Wednesday will halt sales of the proof coin sometime between 11:00 a.m. and 12:00 p.m. ET. Sales would resume several minutes later at the new price of $1,792.00.

Demand has been a bit lower so far for the 2012-W American Platinum Eagle proof coin. Its sales stand at 3,460 as of Monday, August 20. The U.S. Mint has set its mintage limit at 15,000. Interested buyers can visit the U.S. Mint website at www.usmint.gov to make a purchase.

{ 8 comments… read them below or add one }

Joe August 22, 2012 at 4:58 am

What did I tell ya. Still some time left.

A&L Futures August 22, 2012 at 7:20 am

@Joe,

With the jump we’ve seen in the SPOT price for platinum, I wouldn’t surprised me to see a back-to-back/week-to-week increase by the U.S. Mint for this item.

NOTE: As of: 08:20 am (EDT), the Bid price listed on APMEX is $1,511.80.

Any thoughts?

Joe August 22, 2012 at 9:56 am

No looking back.

RonnieBGood August 23, 2012 at 9:09 am

Still down $300 from the issue price earlier this year.

Joe August 23, 2012 at 12:36 pm

2012 Debut price was $1,692. New issue price is $1,792. That’s why people should have bought one, it was the cheapest in years.

Joe August 24, 2012 at 12:43 pm

A&L Futures, They might take it of the shelf and let the dust settle.

A&L Futures August 24, 2012 at 1:08 pm

@Joe,

Bid price listed on APMEX is $1,541.70. I seriously doubt the U.S. Mint will remove this product as it’s currently generating positive revenue for them. Should the SPOT price dramatically fall (as it did in ’08), then it’s likely they would do as you state.

Even so, the Mintage limit (15,000) is too high and the design for this year’s coin (as stated by so many others) really lacks the beauty which had been associated with earlier releases. The CCAC continues to disappoint.

Joe August 24, 2012 at 6:09 pm

A&L Futures, I remember platinum eagles being suspended in late 07 and early 08. For pretty much the same reason. Because prices were going up and they wanted it to level off before they started selling again. That was 07 and 08. I’m not too clear on it but I’m pretty sure that’s what happened. That’s why I mentioned that in my last comment.

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