American Platinum Eagle 1 oz
Following in the steps of the successful American Gold Eagle the US Mint decided a significant platinum bullion coin was needed in the world market so in 1996 Congress authorized the popular American Platinum Eagle Series each with a legal tender value: 1/10 oz ($10) ¼ oz ($25) ½ oz ($50) and 1 oz ($100).
The most popular with bullion investors is the American Platinum Eagle 1 oz which carries a $100 face value the highest to appear on a US coin. The daily price of this platinum bullion coin is determined by its weight and its legal tender status while largely symbolic is an added plus being guaranteed by a sovereign country.
The American Platinum Eagle 1 oz was first released by the US Mint in 1997 and was produced each year through 2008. Total mintages for this regular production 1 oz platinum bullion coin in this 12 year period was 337,612 coins.
During this same time frame the US Mint also produced a series of special collector or proof coins which have the distinction of being the only US Mint issue in which the reverse of the coin changed each consecutive year.
The regular production of the American Platinum Eagle 1 oz bullion coin offers a number of advantages to the precious metal investor: (1) Because the American Platinum Eagle 1 oz is minted and guaranteed as to weight and purity by the US Mint it is recognized and accepted as a world standard. This allows dealers to post daily buy and sell prices on these brilliant uncirculated coins which follow the world price of platinum. (2) Because the US Mint produced a significant number of the American Platinum Eagle 1 oz the premium over spot is low and attractive to those who only want a bullion investment. (3) The American Platinum Eagle 1 oz is a pure platinum coin with no alloy and so allows investors to diversify their precious metal holdings and figure total value easily. (4) The US Mint designed a hard plastic tube which holds 20 coins and snaps tightly shut so storage is easy and convenient. For larger investors the US Mint issued a virtually indestructible black composite box which holds 25 tubes or 500 total coins making long term storage easy.
Finally the US Mint will again mint the American Eagle Platinum 1 oz in 2014 and there is no reporting requirement (Federal Form 1099B) when either buying or selling the American Platinum Eagle 1 oz so paperwork requirements are minimized.
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