Order limits dropped from Proof coin, Pictured Rocks 5oz Silver Bullion Coin release date also announced
By CoinWeek News Staff ….
As of today, February 12, the United States Mint is offering the 2018 American Platinum Eagle Bullion Coin for sale to its authorized purchasers. Sales will be allocated each month, and after the current stock is exhausted, the Mint reserves the right to produce and sell more inventory later in the year.
The Mint made the announcement in an email on Thursday, February 8.
Instead of selling directly to the consumer, U.S. bullion coins are distributed through a network of authorized dealers. This network consists of coin dealers, precious metals traders, financial companies, et al., that have applied for the privilege and been approved by the Mint to distribute bullion products.
Currently, the list of authorized purchasers includes:
- A-Mark Precious Metals
- APMEX (American Precious Metals Exchange)
- Coins ‘N Things
- Dillon Gage, Inc.
- Fidelitrade
- The Gold Center
- Jack Hunt Coin Broker
- Manfra, Tordella & Brookes, Inc.
- ScotiaMocatta
Three foreign purchasers are also represented – two from Germany and one from Japan:
- Bavarian State Bank (Munich)
- Deutsche Bank (Frankfurt)
- Tanaka Kinkkinzoku Kogyo K.K. (Tokyo)
American Platinum Eagles
Like the Silver Eagle, the Gold Eagle–and now the Palladium Eagle–the American Platinum Eagle is one of the official bullion coins produced by the United States for both domestic and foreign markets. Consisting of one troy ounce of 99.95% platinum, the $100 face value coin was originally released in 1997. Fractional denominations of 1/10, 1/4, and 1/2 oz. are also available).
The obverse features a close-up front view of the Statue of Liberty’s face, including her solar crown, which expands over much of the top half of the coin. The word LIBERTY appears behind the rays of her crown; the date of issue and the motto IN GOD WE TRUST appear to the right. The legend E PLURIBUS UNUM (“Out of Many, One”) is superimposed over Liberty’s body counterclockwise along the bottom left. The designer of the obverse, then-Chief Engraver of the Mint John Mercanti (now retired), placed his initials “JM” over Liberty’s right shoulder between her head and right arm.
The reverse, designed by sculptor Thomas D. Rogers, features an eagle calling out in mid-flight, its wings stretched out to their maximum span. In the background is a stylized sun and seven sharp rays. In front of the sun and beneath the eagle is a curved patch of land, within which is both the face value of $100 and the initials “TDR”. Starting from the top, inscriptions include UNITED STATES OF AMERICA and .9995 PLATINUM 1 OZ. The edge is reeded.
While the design for the uncirculated bullion version remains the same each year, a proof version struck at West Point for collectors features a new reverse on an annual basis – typically as part of a multi-year themed series. This year’s proof coin – emblematic of “Life“, the first of three inalienable rights of man as written in the Preamble to the Declaration of Independence – went on sale January 25. At the time of publication, the proof coin has sold 8,316 units out of a maximum mintage 20,000. Originally having an order limit of one per household, the Mint lifted this purchasing restriction on January 30. It is currently available on the Mint’s online catalog for a price of $1,370 USD.
In Other News
The U.S. Mint also lifted order limits for the 2018 American Liberty 1/10 oz Gold Proof Coin on Friday (February 9), a week after it went on sale. Previously, it was limited to a purchase of five per household. Featuring a maximum mintage of 135,000, the tenth-ounce gold Liberty is available for $215 from the Mint’s website.
And the 2018 America the Beautiful – Pictured Rocks National Lakeshore 5oz Silver Bullion Coin will be available to authorized purchasers starting February 26. According to the Mint’s announcement on February 9, no allocation is expected. The next release in the 5oz silver America the Beautiful series, Apostle Islands National Lakeshore, will go on sale April 16.
