Platinum Eagle Proof Values Robust

Source:

"Impressive auction results for a modern coin."

The United States Mint will launch the 2010 American Platinum Eagle Proof Coin on Thursday, August 12, 2010.

The release will mark the first Platinum Eagles available from the U.S. Mint since last year's proof was issued on December 3, 2009. Collectors wasted no time in obtaining those strikes as the entire 8,000 mintage was sold in just over a week.

With record numbers of bullion Gold and Silver Eagles struck by the Mint to meet public demand, bullion Platinum Eagles have been pushed out of the picture. The last time the Mint sold any of the one ounce, 9995 platinum bullion coins was back in October 2008, and there is no indication as to when the Mint might re-start production.

The Mint discontinued several of its Platinum Eagle offerings when it trimmed its product portfolio in late 2008. Ungraded Platinum Eagles in their original Mint packaging are selling quite well, with several realizing more than $2,300. The best deal had to be on a 2009 example sold for $2,075, with the seller quick to disclaim that a small scratch was apparent on the coin despite having never been out of its capsule.

All of the results confirmed a healthy return on investment. Especially when taking into account their Mint issue price of $1,792.

It should be noted that the average cost of an ounce of platinum for the year is currently in the $1,580 range, making these auction results for a modern coin all the more impressive.

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