Entries from August 2010 ↓

Platinum Eagles Sell Out

After less than one week, the 2010 Proof Platinum Eagle has sold out at the United States Mint. Collectors quickly ordered up the maximum mintage of 10,000 coins and prompted the US Mint to close orders by Thursday of the following week. At that point, a waiting list was opened, but that soon closed as well.

2010 Platinum Eagles

The sell out happened slightly faster than the prior year proof Platinum Eagle, despite the fact that the mintage was set 25% higher and the price was $100 higher. Last year, the sell out took slightly longer than one week.

In terms of overall mintages, the 2010 Platinum Eagle ranks as the highest mintage for a one ounce proof coin since 2000 when 12,453 were sold. The all time high for a one ounce coin was set in the first year of issue 1997 with 20,851 coins sold. Comparisons are hindered by the fact that in years 2008 and prior, the US Mint offered a full range of bullion weights for the proof coin offerings and a 4 coin set. From 2009 onwards, collectors only have the one ounce version of the coin available.

2010 Platinum Eagle Proof Coin

Today the US Mint released the 2010 American Platinum Eagle Proof Coin.The release comes much earlier than last year’s coin, which was delayed until December.

2010 Proof Platinum Eagle

This year’s coin features the theme “To Establish Justice”, continuing the presentation of the core concepts of American democracy. Blindfolded justice is depicted hold scales. She is blindfolded to represent impartiality. A tiny American Eagle privy mark also appears, keeping in tune with the series name. The obverse of the coin features the Statue of Liberty as designed by John Mercanti.

The 2010 Platinum Eagle Proof coins are only available in one ounce size. In years 2008 and prior, a range of fractional weight proof coins and a 4 coin set had been offered. The value of the precious metals content makes this an expensive coin, with initial pricing of $1,892. The maximum mintage established by the US Mint is 10,000 coins.

Last year, the 2009 Proof Platinum Eagle had actually sold out in one week. That coin was priced $100 lower to start, and also had a maximum mintage 2,000 coins fewer. Will there be a repeat sell out this year?

Bullion versions of the Platinum Eagles have not been offered by the US Mint in almost two years. Presumably this is related to the US Mint’s difficulties having precious metals manufactured into blanks, although the Mint has not released any statements explaining the absence of the platinum bullion coins, specifically.

Yosemite National Park Quarter Preliminary Mintage

The United States Mint has revealed the preliminary mintage figures for the Yosemite National Park Quarter. This coin is the third release in the new series of quarters featuring National Park and sites of America.

Yosemite National Park Quarter

The Philadelphia Mint produced 35.2 million Yosemite Quarters, while the Denver Mint produced 34.8 million. This makes for a combined total mintage of 70 million coins.

This amount narrowly exceeds the overall mintage for the precious coin in the series featuring Yellowstone National Park, which had narrowly exceeded the mintage for the coin before. This string of two mintage increases, breaks the trend of declining mintages set by the previous DC & US Territories Quarters Program.

Mintages for the America the Beautiful Quarters series are considered preliminary until the close of the year. This is because the US Mint has stated that they may begin production of previous designs for the duration of the year of release. More Hot Springs Quarters are expected to be produced.

James Buchanan Presidential Dollar Mintage

The United States Mint has released the final mintage figures for the James Buchanan Presidential Dollar. Interestingly, the coin has not yet been released into circulation, although production is apparently completed.

James Buchanan Dollar

The coins are schedule for circulation release on August 19, 2010. This represents the fifteenth issue of the ongoing Presidential Dollar Program, honoring former Presidents of the United States of America in the order served.

The final mintage for the James Buchanan Dollar includes 36.54 million Philadelphia minted coins and 36.82 Denver minted coins. This yields an overall mintage of 73.36 million coins, representing a fresh low for the series. The prior Franklin Pierce Dollar had an overall mintage of 76.58 million and the first release of the year honoring Millard Fillmore had a mintage of 74.48, the previous low for the series.

Next up for the series will be the Abraham Lincoln Dollar, with circulation release date on November 18, 2010. The anticipated higher demand for this coin may be the reason Buchanan Dollars stopped being produced before they were even released.