American Eagle 10th Anniversary Platinum Coins are once again available from the United States Mint and at a substantially reduced price. The 2007-W two-coin set, which commemorates the 10th anniversary of the American Eagle Platinum series, were pulled months ago from Mint store shelves due to volatile platinum prices.

The special collector’s set has a limited mintage of 30,000 and includes two one-half ounce platinum proofs. Most unique with the pair of coins is the first-time offered reverse proof version. According to the mint, the design elements were "strategically selected to feature the proof, mirror-like finish in contrast to frosted background design elements to enhance the entire image."

The anniversary set first went on sale December 13, 2007 for the price of $1,949.95. At the time, an ounce of platinum was priced around $1400. Rising platinum prices forced the Mint to suspend sales in February. They were resumed in April with a price tag of $2,649.95. The set was removed again from the Mint’s store for many months until their return this week.

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The United States Mint resumed sales of collector gold and platinum coins Thursday at 12:00 noon (ET). The Mint suspended the coins to readjust prices Wednesday.

Nearly all American Buffalo gold and American Eagle gold and platinum collector coin prices were decreased, as expected, to better match recent price drops in precious metal prices. However, all 1/10 oz and two of the 1/4 oz coins were actually priced higher. Interestingly, Mint sales figures for those sizes experienced some of the highest percent increases over last week.

The following table compares American Eagle and Buffalo old and new prices, as well as the differences between Mint sales figures from last week to this week. Perhaps most noticeable is the standout 13 percent sales increase for the 2008-W American Eagle Platinum Proof 4-coin set.

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The United States Mint on Wednesday suspended sales of nearly every gold and platinum collector coin it offers in order to readjust prices.

The suspensions come on the heals of the Mint’s Monday announcements to offer a last chance sale for many coin products on Saturday and its elimination of 22 gold and platinum coins.

The Mint’s online store currently lists the bullion collector coins in a "Product is not available" status. Several calls to customer service confirm the coins will be available again on Thursday, although four different and very courteous representatives provided varying times of the day for when, which seems to indicate an exact time may not yet be determined.

The suspended coins include all:

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The collector’s eye is scanning for scarcer gold and platinum coins to purchase after the United States Mint’s announcement on Monday to slash future coins from its numismatic portfolio.

With 22 collector American Eagle and Buffalo gold and platinum coins to face elimination in 2009, opportunities have improved for several to rise in value based on that alone. And even more so for others after comparing their prices and sales figures.

But how did we get to this point? Also, what collector bullion coins are the best buy?

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The United States Mint is selling collector 2008 American Eagle platinum uncirculated coins with the "W" mintmark at significant premiums over their bullion content. But factors such as mintage totals are worthy of scrutiny before completely dismissing the coins as overpriced.

The US Mint offers one-ounce 2008-W American Eagle platinum uncirculated coins for $1,214.95, which is $372 higher than Tuesday’s New York closing spot platinum price of $843 an ounce. The difference is an unpalatable deterrent for making a purchase, which is further complicated given the still volatile commodity market.

In the last 30 days alone, platinum has been as high as $1,036 an ounce and as low as $756, with analysts all over the map on where it would or will go. Collectors who purchased a one-ounce uncirculated eagle toward the crest of the 2008 record platinum price of $2,250 and the peak US Mint price of $2,349.95 can best describe the hurt an unstable market can deal.

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The United States Mint on Tuesday removed its newly discounted one-tenth ounce 2008 American Eagle Platinum Uncirculated Coin from its online store. Indicators suggest a potential price-driven sellout, with any remaining coins held for inclusion in the Mint’s four-coin platinum set, which includes the one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce sized coins.

The series of collector eagle platinum coins were returned at reduced prices only Friday after a long sales suspension — the coins were pulled in August due to volatile platinum prices.

Collectors who purchased the 1/10-ounce collector coin at the new price paid $134.95. That was less than what the Mint charged in 2007 and substantially lower than the Mint’s initial 2008 price tag of $259.95. Then again, platinum prices have also plunged recently. New York platinum closed on Tuesday at $898 per ounce, which is well off its $2,252 high set earlier this year.

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The United States Mint surprised collectors Friday with the return of both proof and uncirculated 2008 American Eagle Platinum coins carrying the "W" mintmark. And even better, the new prices are substantially lower than those from 2007 or in mid 2008.

Both platinum series of coins were pulled from the Mint’s online shelves in early August with the expectation they would return after price reductions were made to better match platinum’s free fall.

After more than two months of waiting, collectors can now purchase the coins at a discount, albeit with the understanding that there are still substantial premiums to consider when comparing coin prices to platinum’s latest slide — it closed yesterday on Nymex at under $900 an ounce, and is falling further in early morning trading. The current level is a far, far cry from its record high of $2,252 per ounce earlier in the year.

As a special interest, these 2008 coins bear the final ‘Judicial Branch’ design in a three-year platinum series entitled, "The Foundations of American Democracy." Collectors who purchased coins from the previous two years due to their differing designs will likely be inclined to take advantage of the Mint’s new prices, which are now lower than last year.

In all this, one thing is certain. There is absolutely no telling how long the coins will remain available.

The old and newest proof and uncirculated platinum coin prices follow:

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The United States Mint halted production and will no longer ship 2008 one-half ounce and one-quarter ounce American Eagle gold coins to authorized dealers, it was announced Monday. Additional gold and platinum coins will be halted when their blank inventories are depleted.

"Due to the extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high," the U.S. Mint said in a memorandum.

"The U.S. Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the U.S. Mint to focus remaining bullion production primarily on American Eagle Gold one-ounce and Silver one-ounce coins," the Mint said.

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The United States Mint’s online product pages no longer offer or display 2008 American Eagle platinum coins. All platinum coins to include individual and sets within the uncirculated and proof categories are gone. No message is currently in place to indicate why or whether they will return.

The hope is that the Mint has pulled the products in order to downward adjust prices to make them more inline with current platinum prices.

In recent weeks, the price of platinum has plunged dramatically in the wake of concerns and data regarding car production and sales figures. Platinum is used in vehicle catalytic converters and that purpose accounts for some 50% of the world’s demand for the metal.

At its worst on Monday, Aug. 4, U.S. Mint American Eagle platinum proof coins had premiums between 59%-79%. Premiums around the 30% range have been more the norm for such coins, and reflective of what they were when the Mint first released this year’s proof batch in May of 2008.

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The United States Mint is showing they’re extremely proud of their 2008 American Eagle Platinum Proof coins with premiums running between 58.7% and 79.1%.

The price of platinum has taken a beating as gloomy car industry data continues to take its toll. About half of the global platinum supply is used in vehicle catalytic converters, and U.S. car sales slipping to a 16-year low is no good news for platinum’s demand.

Today, New York platinum futures dropped to $1,563 an ounce, or another 5.6%, to a fresh six-month low. The metal has been giving up ground since the middle of July.

With such a southerly, multi-week turn, expectation would lead platinum coin buyers to expect lower prices too. That hasn’t been the case. At least not for the U.S. Mint’s 2008 American Eagle Platinum Proof coins.

For whatever reason, the Mint seems content in selling coins that once had premiums marked in the 30% range, but are now marked up between $124-$1,700. The following tables reflect prices and premiums.

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