2016-W Proof American Platinum Eagle Release (Updated)

by Darrin Lee Unser on June 30, 2016 · 18 comments

Debuting today, June 30, is the U.S. Mint’s 2016-W $100 Proof American Platinum Eagle. The .9995 fine platinum coin for collectors goes on sale beginning at noon ET.

2016-W Proof American Platinum Eagle Coin and Case

2016-W Proof American Platinum Eagle Coin – Obverse, Presentation Case and Reverse. The presentation case allows both 2015 and 2016 coins to be displayed together.

This year’s proof Platinum Eagle ends the two-year Torches of Liberty series, and showcases a reverse design described by the United States Mint as "innovative, beautiful, and representative of our nation’s core values of liberty and freedom." (See photos of last year’s design.)

It features a mintage maximum of 10,000 coins, which is significantly higher than its predecessor’s 4,000-coin limit. Last year’s coin sold out in just seven minutes even with a household ordering limit of one, which remains in place for this release.

Coin Designs

Reverse designs on proof Platinum Eagles change annually, enhancing the attraction coin collectors have for them.

United States Mint Artistic Infusion Program Designer Paul C. Balan created this year’s design. Sculpted by United States Mint Sculptor–Engraver Joseph Menna, it depicts 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 out-stretched appears to the side. "UNITED STATES OF AMERICA," "1 OZ.," ".9995 PLATINUM," and "$100" are inscribed around the design.

2016-W $100 Proof American Platinum Eagle

2016-W $100 Proof American Platinum Eagle – obverse and reverse

Shown on the obverse (heads side) is a "Portrait of Liberty" as created by John Mercanti. This same design has appeared on all American Platinum Eagles since their introduction in 1997. Obverse inscriptions read "LIBERTY," "2016," "IN GOD WE TRUST" and "E PLURIBUS UNUM."

Coin Specifications

Denomination $100
Finish Proof
Composition 99.95% Platinum
Diameter 1.287 inches (32.70 mm)
Weight 1.0005 troy oz. (31.120 grams)
Thickness 0.094 inch (2.39 mm)
Edge Reeded
Maximum Mintage 10,000
Mint and Mint Mark West Point – W
Obverse Design John Mercanti
Reverse Design Paul C. Balan / Joseph Menna

 

Ordering and Pricing

Order 2016-W Proof American Platinum Eagles using the U.S. Mint’s American Eagle online product page or by calling 1-800-USA-MINT (872-6468).

Each coin is initially priced at $1,350.00, which is $150 higher than last year’s coin but $300 less than the one from 2014.

Pricing is subject to change weekly according to market conditions and the Mint’s precious metal coin pricing matrix. The current price is based on a weekly average of LBMA platinum that resides within the range of $950.00 and $999.99. Platinum at this writing is trading above $1,000 an ounce. If the level is maintained through Wednesday, July 6, the coin’s price on that day will increase by $50 to $1,400.00.

Update: The United States Mint provided the following sales update on Friday, July 1:

"At 12:56 p.m. EDT, June 30, the 2016 American Eagle One Ounce Platinum Proof Coin (16EJ) went into a ‘Currently Unavailable’ status after the Mint received orders totaling the entire mintage of 10,000.

If the product is made available later to the public as the result of returns and cancellations, the most efficient way for interested customers to receive notification is through the use of the ‘Remind Me’ feature on our Web site appearing on the product page."

{ 18 comments… read them below or add one }

chuck June 30, 2016 at 11:34 am

Mike,
Thank you for having the link to last year’s issue. To me, it was a better design.
There might be a bunch of disappointed “flippers” this year. There were many, at least 49, offered before they went on sale with bids from 1025 to 1825 depending on grade and others at set price.
If this sells out, one has to believe the 2015 price will increase much more soon.

charles ingle June 30, 2016 at 12:09 pm

The 2016 Platinum 100 dollar coin became unavailable in less than an 1 hour…

chuck June 30, 2016 at 12:11 pm

Darrin Lee,
Thank you for link, I cited Mike instead of you previously..
See the 2016 not available at mint at 1 pm. So must have sold out fast. Was surprised.

Dwight June 30, 2016 at 12:18 pm

The 2016-W Platinum Proof Eagle coins are now currently unavailable @ 10:11 AM PDT Wednesday June 30, 2016 on the U.S. Mint’s website.

charles June 30, 2016 at 1:13 pm

Did anyone buy any ?

Seth Riesling June 30, 2016 at 2:53 pm

charles –

I passed on this one due to the high mintage of 10,000 ! Last year I got the one with a 4,000 mintage limit & like its design much more. Although platinum went above $1000 yesterday & today & stayed there for basically first time in a long time & maybe that made more people order one. They are not totally sold out yet, just sold the amount they had in their fulfillment warehouse in Memphis & are awaiting more from a shipment from the West Point Mint.

-NumisDudeTX

Dwight June 30, 2016 at 4:49 pm

On ebay for a raw 2016-W Platinum Proof Eagle coin, item #122031685515 sold for $1,650 + $2.45 shipping this morning June 30, 2016 @ 11:14 AM. The current highest asking price is Buy It Now for $2,795 + $3.49 shipping for item # 262505484135.

Christopher Williams June 30, 2016 at 5:05 pm

I got home from work and had changed my mind about buying one.

“Currently Unavailable.”

Seth Riesling June 30, 2016 at 5:26 pm

Dwight –

MCM in Sarasota, Florida sent me an e-mail offering their “pre-sale” coins graded by NGC as Proof 69 Ultra Cameo for $1545 & in Proof 70 Ultra Cameo for $1745. Free shipping, handling & insurance on all domestic orders always with no minimum order. Such a deal !

-NumisDudeTX

Whistler June 30, 2016 at 5:47 pm

Likely a decent investment but passed due to the mint’s outrageous virtual 50% premium over Platinum spot….silver bought @ $18’ish will outperform over the next 10 years…easily.

Dwight June 30, 2016 at 6:27 pm

APMEX is selling the Platinum Proof Eagles.

Tinto June 30, 2016 at 11:07 pm

I started and completed the Preamble APE’s and might have considered buying the CCAC or CFA chosen design for the one of the subsequent proof APE … the dude with the sword … that one was totally different yet artistic (to me) and I was really disappointed by the Mint’s totally lame excuse that the design was not workable into coin due to platinum being such a hard metal … if so why did they present it in the first place? Anyway with this and other stuff like the Gold UHR becoming an HR and no silver medal in the same year, etc. I decided to stop becoming too enticed by the Mint’s offering and now only concentrate on the NA C&C, the gold commemorative coins for this year, and the occasional ATB puck but mostly in bullion so I don’t have to go to the Mint. and of course buy the RP and EU proof sets if they get offered … but only to make a type set .. no more running after every product …. One big exception .. I plan to buy the moon landing commemorative in 2019 (?) how can I pass that one up ..

Adam Lindenfelser July 1, 2016 at 8:28 am

I bought 1 via the mobile app at first said check internet connection, by 10:02 MST I got order# At 10:50 I got confirmation email. Didn’t want my set incomplete.

charles July 1, 2016 at 9:45 am

Seth
Thank you for the info, Good to know another fellow Texas coin collector, I took the plunge on this one, wanted to get one for the coin set I am putting together on High Denomination Coins,

stan July 1, 2016 at 9:57 am

How do the sellers know the quality/grade prior to receiving the coins in a presale?

Seth Riesling July 1, 2016 at 5:43 pm

stan –

Dealers offering graded coins today are on a “Pre-Sale” basis. They estimate, based on past coin purchases of similar coins, what percentage will grade 70 & 69. It is risky to order from dealers this way as they can raise the price on you when they get them back from the grading companies if the market goes up or they just cancel your order! Make sure you know your dealer well & research them online on google with term “ripoff” before making a purchase is my best advice. Also, the coins they send off for grading that are not at least 69, they get back ungraded & sell them as “raw” coins in Original Mint Packaging (OMP or OGP) & these coins have problems obviously or they would have been graded 69 at least.

–NumisDudeTX

Rick July 11, 2016 at 10:42 pm

Sorry, but they appear to be sold out, even with a price increase. Glad I got. One to match last years.

Rick July 15, 2016 at 2:58 pm

And it’s now 1450 and still unavailable. I suspect it’s sold out.

Leave a Comment