2017-W Proof Platinum Eagle Sales at 5,960

by Mike Unser on July 11, 2017 · 18 comments

2017-W Proof 20th Anniversary American Platinum Eagle coin and case

2017-W Proof Platinum Eagle sales reached 5,960 coins in four days

The 20th anniversary proof American Platinum Eagle didn’t score a quick sellout like those from the last two years, but more than half of the possible 10,000 are gone.

Ordering opened July 6 for the 1-ounce, .9995 platinum coin. Its first-day sales reached 5,230 coins. Another 730 sold through July 9 to lift its total sold to 5,960 coins, for 59.6% of the maximum mintage.

An attraction to the proof Platinum Eagle series has been its annually changing reverses. That tradition was suspended for 2017. In celebration of 20 years, this year’s proof has the same designs as the very first coin from 1997. Moreover, these same designs have appeared each year over the last two decades on the counterpart bullion version.

Change in Limit

The proof coin initially launched with a 1-coin limit per household. The U.S. Mint at around noon ET on Monday lifted that restriction.

Pricing

Pricing for the piece can change weekly depending on the trending value of platinum. It opened at $1,300.00, which is based on a platinum average that sits within $900 to $949.99 an ounce.

There’s some chance for the coin’s price to fall by $50 on Wednesday. For that to happen, the LBMA platinum in the AM would need to drop below $888.96 an ounce and the PM price would have stay under $900 an ounce. The precious metal is now trading near $900 an ounce.

Ordering

Order the platinum coin from the U.S. Mint using its American Eagle product page.

{ 18 comments… read them below or add one }

Seth Riesling July 11, 2017 at 8:29 pm

The Mint only sold 730 of these coins in the 3 days following the disappointing first day sales. Like I posted here on Monday early afternoon, the Mint had to lift the household limit to try to get more sales. I predict some of the over 4,000 coins left being melted down in a year or so unless spot platinum takes a dive.

-NumisDudeTx

jim July 11, 2017 at 8:43 pm

Here’s hoping that all coins not sold in 2017 get melted down and no 2017 coins are available for sale in 2018.

Jp July 11, 2017 at 8:58 pm

Here! Here! Jim,
NO coins should be able to be sold outside of the year they were first issued in my book.
I say, melt away! And I’m not talking about the candy type “melt -away’s”.

Tinto July 11, 2017 at 9:39 pm

Seth

I had written in an earlier article about the 2017 proof APE being a dud (and the original reverse is a dud too) after seeing someone’s post containing prior years’ sales of the proof APE. But that post seems to have been neutered … Now that the HH limit is off, maybe the big boy buyers and flippers are waiting for a potential downward adjustment in price since platinum has been in a tail spin .. the Mint created an artificial rarity with the 2015 proof APE with their absurd 4000 mintage when IMO they could have something like 5 or 6000 …

Seth Riesling July 11, 2017 at 10:10 pm

Tinto –

You are right that this annual coin should have a lower mintage of about 6,000 to maybe 7,000 since that seems to be how many hard-core collectors want one.

-NumisDudeTx

Joe Brown July 12, 2017 at 3:21 am

Mike is probably buying all the 1997 1oz platium Eagles he can get his hands on. He’s right now dreaming of all the sale pitches. One of the greatest platinum pairs ever. A very rear chance to own first time ever 1997 & 2017 graded ANACS 70 # 1 to # 1,500 act fast, first come first served to reseve the lowest # ANACS label. The 2007 reverse proof & 2007 proof half once platinum Eagles graded 70. That pair sells $25,000. I think I have ten left. But you can get the 97 & 17 and it’s a whole once more, you can’t loose it’s only $20,000. But for a 1 in a life time oppertunity get both sets. A week later Mike will sell #1 to # 500 Icg graded 70 even more rear. I’m one of your BIGGEST fans Mike. I been watching you for GOD knows when. Thanks for the education I have learned a lot from you. And thanks for keeping me company in the wee hours. The coin world would not be the same with out you. And GOD BLESS Robert Chambers I miss him. I like Mike. PEACE.

Seth Riesling July 12, 2017 at 3:31 am

Joe Brown –

LMAO. Numismatic Hell Hall of Fame (NHHF).

-NumisDudeTx

jim July 12, 2017 at 7:55 pm

Seth –
You can tell how many hard core collectors there are just by looking at the mintages. You’d think the mint people could do the same thing and set the max to how many people want to buy and not some artificial 10,000. In fact they could probably make the platinum coin an enrollment coin and make it all the more automatic for the hard-core-ers. And a guaranteed first strike label for those who fall for that trick.

Scott the Robot July 13, 2017 at 11:24 am

I know other people have posted similar information, but it is a slow morning so here goes:

1997 Mintage (Proof) (highest) – 20,851 (artificially high because first year)
2015 Mintage (Proof) (lowest) – 4,000 (but this was artificial)
2008 Mintage (Proof) (second lowest) – 4,769 (this was also somewhat artificial they stopped minting them due to unusual price fluctuations)

Other than the anomalies above, from 1998-2000 the mintages were over 10,000. Then, starting in 2001 the mintages dropped below 10,000 and ranged in the 6,000 to 8,000 range based on demand ever since.

Thus, I think it is pretty safe to say (consistent with most people posting here) that the demand for Platinum Eagles is between 6,000 and 8,000 per year. The US Mint should never exceed a mintage limit of 6,000 or lower if the Mint wants to keep these coins collectible.

jim July 15, 2017 at 10:41 am

I’m not sure the mint’s goal is to keep any coin collectable let alone this one. If they were they wouldn’t have allowed unlimited orders of the Congratulations Set so that only a few collectors were able to buy and only within the first seconds of the start of sales. The US Mint is notorious for being leaderless and therefore inconsistent if not chaotic in managing it’s collectable coin division.

Next collectable coin and when? Who knows? The mint should or maybe they don’t since they can’t put together a schedule that goes more than one month in advance.

Joe Brown July 15, 2017 at 2:31 pm

Scot the Robot – Hi, Correct me if i’m wrong please. In 2008 the U.S. came within 3 hours from total shutdown. 2/1/08 was at 1 point $2,300 London Fix. 2/4/08 platinum $1,803.80 South Africa supplies 80 percent or so of Global platinum, 2008 they were hit hard with electric supply. There’s more, but i’m a very poor at typing takes me forever. This is for your blog above. Have a nice rest of your day.

Seth Riesling July 15, 2017 at 4:47 pm

Joe Brown –

Platinum hit a high of about $2270 in 2008. About 90% of all platinum comes from mines in South Africa & Russia. The USA only has one mine with any good amount – in Stillwater, Montana. Czar Nicholas I of Russia had platinum coins struck first in 1828 & the US Mint struck one experimental platinum coin about 30 years later as a test, but gave up due to it’s high density & brittleness. The US Mint didn’t strike platinum coins again till 1997.
All the platinum mined in the world since its discovery would fit in the average USA house living room!

-NumisDudeTx

Joe Brown July 16, 2017 at 3:22 am

Seth Riesling – Thank You, I do not want to mislead anybody. The rundown is #5 U.S. 2.26 percent, #4 Canada 4.47 percent, #3 Zimbabwe,S. Africa 6.83 percent, #2 Russia 15.52 percent, #1 South Africa 68.32 percent, Total of other Countries about 1/16 percent more than USA. All UFO sightings, they must need it for their space craft. lol

Joe Brown July 16, 2017 at 4:36 am

I forgot to mention, in 1 of my blogs above. I sold all my Platinum Eagles in 2008. My wife & I were in need of $$$.$$$. for my first kid first year of college up in N.H. & bad need of Home repair, Truck & Van also. Needless to say I did very well in the sail of my platinum. Thank GOD.

Scott the Robot July 17, 2017 at 11:44 pm

Jim – in response to your comment – this is from the US Mint’s website: “The mission of the Mint is to serve the American people by manufacturing and distributing circulating, precious metal and collectible coins and national medals, and providing security over assets entrusted to us.” Therefore, at least one of the goals of the US Mint is to make “collectible” coins (their words). Also, the US Mint says: “American Eagle Coins are beautiful collectibles in precious metals for any numismatist. They are available in proof and uncirculated finishes.” Again, they use the word “collectible” … not me. However, I think I understand your point and agree with everything else you said.

jim July 18, 2017 at 8:46 am

The latest statement I see states
The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation’s sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers. The Mint is celebrating its 225th anniversary in 2017

This is an about the mint statement attached to the bottom of all the mint press releases.

Mark July 18, 2017 at 4:11 pm

Sales have picked up on the Pt Proof Eagles with 8044 sold through last Friday. Looks like these may sell out yet.

Tinto July 19, 2017 at 12:29 pm

Even after lifting the HHL for the big boy buyers and flippers couldn’t give the Mint a sell out in the week following. Wonder how many they’ll return after the results of their submissions to TPGs for “First Strike”, Early Release, etc

Leave a Comment