In 1995, the American Numismatic Association, the Platinum Guild International and the United States Mint all collaborated on crafting a plan to have the Congress of the United States create and authorize legislation for a platinum bullion coin, coming on the success of the American Gold and Silver Eagle bullion coins that were, and still are, wildly successful.
Again, the United States was late to the party, as Canada struck its first platinum Maple Leaf bullion coin in 1988 as did the Perth Mint in Australia. However, Russia discovered huge stores of platinum in Ural Mountains and even used platinum for circulating coinage as long ago as the 1820s, but they produced their first platinum bullion coins in 1977.
Legislation in the United States was approved by Congress and the American Eagle platinum bullion Coins were first struck in 1997. Like all United States Mint coinage, these American Eagle platinum bullion coins are backed by the full faith and credit of the United States for Weight, purity, and content.
The United States Mint created 1 troy ounce coins ($100 Face Value), 1/2 troy ounce coins ($50 Face Value), 1/4 troy ounce coins ($25 Face Value) and 1/10 troy ounce coins ($10 Face Value). But by 2008, only the 1 troy ounce coins were being struck and all of the fractional coins were discontinued.
The Uncirculated coins are sold through the United States Mint’s Authorized Purchasers while the Mint sells the Proof coins to the public on their website.
The obverse is a closeup portrait of the Statue of Liberty. Above the portrait, through the spikes in her crown is the word “LIBERTY.” To the right is the date of issue and the phrase “IN GOD WE TRUST.”
The reverse was designed by Thomas D Rogers and features an American Bald Eagle in flight, with a rising sun behind her with its rays emanating from it. It the upper field is “UNITED STATES OF AMERICA,” and to the right is “.9995 PLATINUM 1 OZ.” on three lines. The lower periphery has the denomination on it expressed as “$100.”
The 1 troy ounce Proof coins are very interesting in that the design is changed annually, making a wonderful collection of beautiful artworks.
The American Eagle platinum bullion coins were all sold individually, and in 4-coins sets (one of each denomination) were sold between 1997 and 2008, after which the fractional coins were discontinued.
Once again, the United States Mint offered Burnished versions of the Uncirculated coins directly to collectors and they proved as popular as were the other burnished coins – American Eagle gold bullion coins and American Eagle silver bullion coins.
In 2007, to celebrate the 10th Anniversary of the issuance of these American Eagle platinum coins, the United States Mint struck a special 2-coin set. The set contained 2 one troy ounce Proof coins – one had a regular Proof finish while the other had a special Reverse Proof finish, so the coins would complement one another.
The United States Mint also issued a special edition of the 2017 American Platinum Eagle 1-Ounce Proof coin in a special holder to celebrate the 20th anniversary of striking these platinum coins.
Like their gold and silver counterparts, platinum American Eagle coins are also allowed in individual retirement accounts.
