Coin Blog

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.

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.

While much attention has been given to the dramatic rise of platinum over the past few years, another metal in the platinum group has risen even more substantially, Rhodium.

From trough to peak, platinum has moved from approximately $400 per ounce to $2,000 per ounce. This represents an increase of 400%. The last leg of the move was spurred by power problems for the South American miners of the metal.

During approximately the same time period, rhodium has moved from $400 per ounce to an incredible $9,400 per ounce. On a percentage basis, that represents an increase of 2,250%!

Rhodium has mostly industrial uses such as its use to make electrical contacts. Rhodium is extremely scare with a worldwide production of only 25 tons.

There don't seem to be any easy ways for the average individual to have invested in rhodium, except for some custom coins which can sometime be found with rhodium alloys of plating.

Another metal from the platinum group, palladium is expected to be available in coin form from the US Mint in the coming years. So far, palladium has lagged behind rhodium and platinum in price appreciation. However, given the performance of its close cousins, I probably would not be averse to picking some up once it becomes available.