WASHINGTON – The United States Mint announced today that it would begin sales of the 2016 American Eagle Platinum Bullion Coin to Authorized Purchasers under an allocation process on July 25, 2016. The coins will be available until inventory has been exhausted.
The coin’s obverse was designed and sculpted by former United States Mint Chief Engraver John Mercanti, featuring a “Portrait of Liberty” depicting Lady Liberty looking toward the future. The coin’s reverse was designed and sculpted by former United States Mint Sculptor-Engraver Thomas D. Rogers, featuring an eagle soaring above America. Inscriptions are “UNITED STATES OF AMERICA,” “1 OZ.,” “.9995 PLATINUM,” “$100,” “2016,” and “IN GOD WE TRUST.”
The Mint sold 16,900 platinum bullion coins in 2014, the first time the coins had been offered since 2008.
Congressionally authorized American Eagle Platinum Bullion coins provide investors with a convenient and cost effective way to add physical platinum to their investment portfolios. The American Eagle Platinum Bullion coin is available only in the one troy ounce, $100 denomination. As with the American Eagle Gold and Silver Bullion coins, the Mint does not sell American Eagle Platinum Bullion coins directly to the public. The Mint, as with other sovereign mints, distributes these bullion coins through a network of wholesalers, brokerage companies, precious metal firms, and participating banks, a network known as Authorized Purchasers.
This method provides for the creation of an effective and efficient two-way distribution, which maximizes the availability of the coins in retail markets as well as major investment markets. American Eagle Platinum Bullion coins are sold based on the current market price of platinum, plus a small premium to cover minting, distribution, and marketing costs.
About the United States Mint
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; silver and gold bullion coins. The United States Mint’s numismatic programs are self-sustaining and operate at no cost to taxpayers.