A Peek Into The American Platinum Eagles

Platinum is one of the rarest metals with an average abundance of 0.005 ppm (parts per million) on the Earth’s crust. South Africa is the world’s largest producer of platinum accounting for 80% of world’s total production. Platinum is classified among the most valuable precious metals world over. Is malleable and ductile and has a silvery-white appearance in its pure form, which makes it appropriate for use in making jewelry. In addition to jewelry, platinum is widely used in devices for vehicle emission control, electrodes, spark plugs, turbine engines and drugs to fight against cancer among other uses. Platinum also plays a significant role in investments as well as in analytical laboratories as a catalyst.

The American Platinum Eagle is the official platinum coin first released by the U.S mint in the year 1997. The coin comes in various specifications starting from 1/10, ¼, ½ and 1 troy ounce coins. Among the American Platinum Eagles, the 1/10 troy ounce coin has the least value, has a diameter of 16.5 mm, 0.95 mm thickness, and weighs 3.112 grams. This coin has a face value of $ 10. The ¼ troy oz coin has a diameter of 22 mm, 1.32 mm thick and weighs 7.78 grams, commanding a face value of $25. On the other hand, the ½ troy coin is 27 mm in diameter, a thickness of 1.75 mm and weighs 15.56 grams. The face value of the 1 troy oz bullion has the highest face value at $100, with a diameter of 32.7 mm, a thickness of 2.39 mm and a weight of 31.12 grams. One peculiar aspect to note about bullion coins is that the legal face value is far less than the real intrinsic value of the platinum used.

The series experienced an unusual pause from the years 2009 to 2013. Due to high demand for gold and silver bullion coins, the US Mint suspended production of the platinum bullion pieces. During this time, numismatic versions continued to be produced, but there was no product to satisfy investment demand. After more than five years, bullion production was finally resumed although only the one ounce sized coins would be struck.

Posted on June 16, 2014 at 7:33 am by admin · Permalink
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