The American Eagle coin series from the United States Mint is celebrating its high-profile 30th anniversary in 2016, but there is one coin that remains quiet in the conversation about the anniversary. American Platinum Eagle coins debuted in 1997, and though not celebrating any of the 30th anniversary, this coin remains in production in bullion and proof mintages from the United States Mint.
While gold and silver products often dominate the headlines and fill the portfolios and collections of numismatists, the purity and value of platinum products are hard to match by any metal but gold. As the 2016 American Platinum Eagle Proof arrives, we look at this unique version of the nation’s official bullion coins.
American Platinum Eagle History
The American Platinum Eagle was designed to feature four total weights: 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz in a bullion and proof version of the coin. The first coins were struck and released in 1997 by the United States Mint, with a new vision of Liberty used on the obverse side of the coin. Then-US Mint Chief Engraver John Mercanti, the man behind the reverse design of the bald eagle on the American Silver Eagle, created the obverse imagery on Platinum Eagles.
Each American Platinum Eagle coin features an image of Liberty taken directly from the Statue of Liberty itself. Mercanti created a design that is known as “Liberty looking into the future,” and depicts a portion of Liberty’s head with a section of her arm holding the torch visible.
All American Platinum Eagle coins include .9995 pure platinum and bear a face value of $100 (USD) backed by the federal government. While the bullion uncirculated version of the coin has long featured the original image of an American bald eagle flying over the sun, its wings spread wide, that design only featured on the proof coin for one year.
US Mint Assistant Engraver and Sculptor Thomas D. Rogers designed this image of the American eagle. The American Platinum Eagle proof coin is unique among all United States Mint products in that it is the only bullion coin from the mint that features alternating designs on the reverse side of the coin each year.
Proof Design History
Currently, the United States Mint is getting ready to unveil a 2nd design in its fourth design series for the reverse of the American Platinum Eagle proof coins. From 1998 to 2002, the Vistas of Liberty series of reverse designs on the proof versions of the coin highlighted the American bald eagle flying across different environments from around the United States. Rogers created two of the designs during this era, while Al Maletsky created three of the other designs.
A second series of designs debuted in 2006 and ran on the reverse of the coins through 2008, when the onset of the Great Recession and financial crisis hampered the production of American Platinum Eagle coins. The three designs used in this program were known as the “Foundations of Democracy,” and depicted the three branches of the US federal government.
From 2009 until 2014 the US Mint pursued the creation of designs on the reverse of the American Platinum Eagle proof that highlighted the Preamble of the Constitution of the United States, with a planned six-year release of the new designs.
2016 American Platinum Eagle Proof
The all-new proof design series is known as the “Torches of Liberty,” and highlights the role of Lady Liberty in providing a guiding light to freedom, democracy, and the pursuit of happiness in the world. In 2015, the proof design was known as Liberty nurtures freedom, and the all-new 2016 American Platinum Eagle proof design highlights the torch of enlightenment and comes from designer Paul C. Balan and sculptor Joseph Menna.
United States Mint leaders surprised with their recent announcement that the American Platinum Eagle coin will have a mintage of 10,000, which is more than double the 4,000 authorized by the US Mint in 2015. That coin sold out within the first 10 minutes it was available, and there is an expectation that these coins will sell out just as quickly.
American Platinum Eagle coins go on sale June 30th. This will be the final reverse design in the short-lived, two-year Torches of Liberty design.
