Today August 9, 2012 at 12:00 Noon ET, the United States Mint will begin sales of the 2012 Proof American Platinum Eagle. This coin continues the design series featuring the core concepts of American democracy as found in the Preamble to the Constitution.
This year’s reverse design depicts the concept “To Provide for the Common Defence”. The spelling of the word “defence” is based on the spelling within the original Preamble.
Previous designs of the series depicted the concepts “To Form a More Perfect Union” (2009), “To Establish Justice” (2010), and “To Insure Domestic Tranquility” (2011). The final two designs after this year will be “To Promote General Welfare” (2013) and “To Secure the Blessings of Liberty to Ourselves and Our Posterity” (2014).
The 2012 Proof Platinum Eagle reverse design features a minuteman from the Revolutionary War to represent the protection and defense of the country during its early days. The minute man holds a rifle and book intended to symbolize the importance of knowledge in defending the nation. A stylized American flag is present in the background. An American Eagle privy mark is placed on the left side of the circular area of text. This privy mark is from an original “coin punch” identified at the Philadelphia Mint and has appeared for all coins of the current design series. The reverse was designed by Barbara Fox and sculpted by Charles Vickers.
The obverse design of the coin features the rendition of the Statue of Liberty by John Mercanti that have been used for each release within the American Platinum Eagle series.
A maximum mintage of 15,000 coins has been established by the US Mint with an initial ordering limit of 5 coins per household. The initial pricing for the coin will be $1,692 based on an average platinum market price in the $1,350 to $1,449.99 range. This will remain subject to potential weekly changes based on market price of platinum.
Previous Preamble Design Series Coins
The American Platinum Eagle Preamble design series received an enthusiastic response from collectors when it debuted. The 2009 coin was issued very late in the year, following the announcement of the cancellation of the Proof Gold and Silver Eagles and the earlier announcement of the discontinuation of fractional proof and uncirculated Platinum Eagles. Additionally, platinum bullion cons were not issued by the US Mint during the year. These factors all contributed to heightened enthusiasm and demand for the coins. Initially priced at $1,792 per coin, the entire maximum mintage of 8,000 sold out in about a week.
The following year, the US Mint increased the maximum mintage to 10,000 and the starting price was higher at $1,892 per coin. Once again, a sell out of the entire maximum mintage was achieved in about a week.
For 2011, the US Mint ramped up the maximum mintage once again, this time to 15,000 and the initial pricing was higher still at $2,092. The start of sales was fairly strong, but the pace of orders soon slowed. The coins have now remained available for sale for over 14 months with last reported sales of 14,760, still below the maximum mintage level. Pricing for the coin has fallen in line with the market price of platinum.