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.