2013 Proof Platinum Eagles Sold Out

plat2As of this morning, the 2013 Proof American Platinum Eagle has sold out at the United States Mint. Based on the last reported sales, the coin will establish a new mintage low for the “Preamble” design series.

The 2013 Proof Platinum Eagle features a reverse design by Joel Iskowitz representing the concept “To Promote the General Welfare”. Young America is pictured looking towards the future against a backdrop of three interlocking gears which represent the federal, state, and local government working together.

The coins originally went on sale at the US Mint on July 18, 2013. The price was initially $1,800, but varied throughout the course of the offering. A maximum mintage of 15,000 pieces had been established.

Based on the figures from the latest weekly report, cumulative sales for the coin had reached 5,738 units as of the March 9 reporting date. This is well below the established maximum mintage and also establishes a new mintage low for the “Preamble” design series.

In 2009, the US Mint began a six year series of designs to represent the core concepts of American democracy as found in the Preamble to the Constitution. At the same time, the numismatic offerings for the American Platinum Eagle were dramatically reduced. After previously offering proof and uncirculated versions of the coin across four different sizes, only a single one ounce proof coin would be offered for each year. At the same time, the production of bullion Platinum Eagles was suspended, finally to be resumed this week.

Looking back at the “Preamble” series, the 2009 Proof Platinum Eagle had a maximum mintage of 8,000 pieces and sold out quickly. The final audited mintage of 7,945 had been the lowest for the design series. In 2010, an increased maximum mintage of 10,000 pieces also sold out quickly, with the final mintage indicated at 9,871 pieces. From 2011, the maximum mintage was increased to 15,000 pieces. The 2011 Proof eventually reached a sell out at 14,790 pieces. The 2012 Proof lingered in availability until the close of the 2013 calendar year, with final sales reaching 10,084 pieces.

While the mintage of the 2013 Proof Platinum Eagle will be low compared to recent issues, before 2009 even lower mintages had occurred. The 2008 Proof Platinum Eagles hold the lowest mintages for their respective denominations in proof format at 4,769 (1 oz), 4,020 (1/2 oz), 4,153 (1/4 oz), and 5,138 (1/10 oz).

Even lower mintages occurred for the collectible uncirculated or “burnished” coins with an absolute low of 2,253 for the 2008-W 1/2 oz.

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Comments

  1. Scott says

    This makes 2013 the second lowest one ounce proof (behind 2008, but lower than 2004) for the entire proof series. It should have good potential as there doesn’t seem to be an abundance available on the secondary market. The burnished coins while not as attractive as proofs are real sleepers with most having incredibly low mintages.

  2. Sith says

    They look nice but I can’t afford\justify these coins. Maybe if they stated to produce the fractionals again.

  3. VARich says

    Draw your own conclusion here – The price of platinum, like other industrial commodities, is more volatile than that of gold. In 2008, the price of platinum dropped from $2,252 to $774 per oz, a loss of nearly 2/3 of its value. By contrast, the price of gold dropped from ~$1,000 to ~$700/oz during the same time frame, a loss of only 1/3 of its value.

    During periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold, whereas during periods of economic uncertainty, the price of platinum tends to decrease due to reduced industrial demand, falling below the price of gold. Gold prices are more stable in slow economic times, as gold is considered a safe haven and gold demand is not driven by industrial uses

  4. DCDave says

    I think the coin will do well in the secondary market over time as the lowest mintage of the recent series and a nice looking coin.

  5. elaine says

    it’s good i just received mine today. and it was sold out. hopefully this coin future is bright.

  6. Leo S says

    Just checked the Mint Schedule and all the 5 oz pucks have been scheduled. The first on in April.

  7. says

    I would say this is probably the best platinum eagle I’ve seen since the 2011 piece. I really liked this design and regret not being able to scrape together the cash for it like I did for the 2011 platinum eagle.

    Michael also has figures for the first sales of the bullion platinum here: http://news.coinupdate.com/us-mint-sales-report-proof-platinum-eagle-sold-out-3188/ I thought it was interesting they decided to use the old design for the platinum bullion instead of the rotating preamble designs.

    VARIch,

    While platinum is a bit less stable, it almost always tends to exceed the value of gold. Furthermore, demand for it is relatively high (given its use in cars and jewelery) and its narrow supply, heavily dependent on South Africa, makes it a solid investment and a decent alternative to gold and silver.

    What gold really offers beyond platinum is its history as sort of an “ultimate reserve currency.”

  8. Scott says

    FYI CaptainOverkill, the bullion platinum coins have always had the original 1997 design since their introduction. Platinum is considerably more rare than gold, but also more volatile due much a smaller trading market than gold. Platinum is a more sensitive to industrial demand than gold, hence the greater price fluctuations.

  9. says

    Scott,

    Yeah, I definitely agree with everything you’ve said. I do think it’s a fairly strong investment as bullion and I’ve always thought people interested in silver and gold should consider it too.

    I’m a lot more skeptical of palladium, though.

  10. gary says

    The value of the 2013-W platinum MAY get a boost since the mint is resuming the bullion platinum this year (in one ounce).

  11. VARich says

    CO – as far as platinum being “a decent alternative,” I guess that depends on one’s risk tolerance. To quote Peter Lynch, buy what you know and can understand. I do find it interesting that MCM was letting ’12 Prf 70’s go for $1799 late last year and 2007 Anniversary set goes on the bay for not much more than I paid in ’08.., guess I don’t understand it..lol

  12. Sith says

    CO,
    What gold really offers beyond platinum is its that it is universally recognized, and admired metal. For example I have seen gold for cash, and I have seen silver and gold for cash, but I have not seen platinum for cash, I’m sure the establishment would take it if they recognized the value but most people can do rudimentary test on gold (bite it, magnets), and silver ( ring test) but how do you test platinum? I guess you use a magnet like other PMs but but you get the point…

  13. Jack in N.E says

    I wonder if you can still purchase from Aramark which handles mint gift shop sales.I unfortunately cannot afford one.Good luck though

  14. Scott says

    Gold has been “money” for thousands of years where Platinum is somewhat of a newcomer to the field. The reason you don’t see “Cash for Platinum” signs is the fact that platinum is much more scarce than gold. I’ve been to numerous coin shows where there was little or no platinum for sale. I do think it’s smart to own some platinum if your finances allow, and like CaptOverkill, I am skeptical of palladium.

  15. VARich says

    I’m not bashing Pt, but collectors need to understand the market driven forces for these industrial metals before you go sink $1,800+ into a technology demanded element. For example – (from wiki), & we technology changes from time to time.. ;7

    Of the 245 tonnes of platinum sold in 2010, 113 tonnes were used for vehicle emissions control devices (46%), 76 tonnes for jewelry (31%). The remaining 35.5 tonnes went to various other minor applications, such as investment, electrodes, anticancer drugs, oxygen sensors, spark plugs and turbine engines.

  16. says

    VARich,

    You’re absolutely right about the need to understand the market. I think it’s worth noting that in recent years, platinum often seems to trade “in tandem” with gold and silver – in other words, most “green” days for gold and silver are also green for platinum and vice-versa. Of course, industry specific events (such as the platinum mine strikes in South Africa) have caused it to move dramatically out of step with gold and silver in the past.

    As for buying platinum, I would be cautious about buying platinum numismatic pieces like you brought up. Values of those are going to be unstable because demand for platinum numismatic products is not very stable. I can’t say I understand the prices of those products either! 🙂

    I’m speaking mostly of platinum bullion which I regard as a good investment.

  17. Ralph says

    Just checked the Mint’s “upcoming products” and they have the 2014 Proof Set listed as the 2014 Presidential $1 Coin Set. Ooops!!!

  18. Louis says

    Anyone get a message from the Mint about their first puck by subscription? I got one for the burnished eagle coming out in April, but not for the puck or silver proof set (yet).

    In my humble view I would only buy the 2013 APE because you like it. If you want platinum at these levels, buy the 2014 bullion coin. Both are way out of my reach.

  19. gary says

    No message from the mint on my ATB 5 oz. subscriptions. Maybe the Mint will include a free hockey puck with each order????

  20. CW says

    Bring back the fractionals! In the ‘new normal’ few have $1800 to spend on a coin. The US Mint is certainly failing to make bullion accessible to the common man.

  21. Jerry Diekmann says

    I have to agree with those of you who say they can’t afford $1,800.00 for a Pt coin. Maybe investors and speculators have that kind of money, but most collectors do not. In any case, Au is a much more beautiful metal than Pt could ever hope to be. Also it has a history and lore that very few metals except Ag or Cu could ever come close to. In any case, the Mint would have to go back to striking fractional Pt copins if it ever hopes to sell more coins, but I’m guessing it doesn’t really care one way or the other.

  22. Ikaika says

    @ Louis

    Same as the others. No info from the US Mint regarding the 5 oz subscription. I am wondering if the Roosevelt coin and chronicles set will be shipped next week.

  23. Ikaika says

    From my point of view, platinum coins are worth only their metal content. The number of collectors seems to be small too.

  24. Gary says

    @Louis
    No email for me yet on the 2013 Limited Edition Proof Set….I try to keep only one charge on the ole credit card at a time….but I guess the HOF coin wont ship until October so I should be ok?

  25. Louis says

    Good luck to all getting your sets. I don’t get why people pay so much for the 2012 sets (I think $300 and more) in the special packaging, and maybe these will do well too, though 2012 was a special year for silver sets. I just want to see what they look like.

  26. Gary says

    I bought my 2012 from the Mint….very nice set….I look forward to what you think of the 2013 set when you receive it!

  27. Blair J Tobler says

    I got emails from the mint telling me my TR set is backordered (again) until 3/18, and the LESPS is now backordered to 3/28 – even though others are shipping! It amazes me how disorganized they are!

  28. VARich says

    2013 LESPS email as well – shipping 3/28

    2012 LESPS – Anyone seeing toning of the coins??? A lite tan colorization of the coins around the outer edge? I’ve seen an examples of that and was surprised of the occurrence so quickly.

  29. VARich says

    Hey Blair – I ordered mine back on 2 January when the sales # was ~22k – so to have a back order now of another two weeks for mine tells me that we all may be in for a prolonged wait.., esp if you ordered on the tail end or now.

  30. Blair J Tobler says

    VARich – I ordered mine on 12/31 (took advantage of the free shipping).

    As for the 2012, I’ll check mine when I get home, but I think mine will be ok. I use Silver Saver Paper for all my coins (“fringe benefit” from work)

  31. Samuel says

    received emails
    -Roosevelt set backorder, expected shipping 3/18.
    -2013 limited set ordered at later date, backorder, 3/28.
    first day order already received, no bubble wrap bag outside, film on the lense, not “coin in the hole” like last yr’s.

  32. Dave says

    Jack in N.E.
    Thanks for reminding me about the Aramark possibility – I just snagged the last 2 at the Philadelphia store. Denver May be a possibility if anyone is interested – they are not open yet. Have to wait until noon EDST. BEWARE the shipping is $49.50 FedEx.

  33. VABEACHBUM says

    I have received similar emails in the past 24 hours:
    – T.R. C&C now back ordered to 3/18. Coming up on a full 3 months since placing order. Still looking forward to it; just didn’t think delivering the product would be this difficult.
    – 2014 UNC ASE Subscription reminder. One month out & the cost savings.
    – Like Louis, no updates on the first ATB-P through subscription, even though the sales date has been posted and is 3 weeks out.

    Michael provided this link at Coin Update:

    http://www.coinworld.com/news/silver-american-eagle-bullion-coin-reverse-change.html

    Seems the CCAC will be meeting in April to consider new / alternative designs for the ASE Reverse. If that’s the case, why not use this as an opportunity to completely revamp the coin, but especially after 26 years. For example, I would love to see the 2013 Pt Liberty (without gears) used as the new obverse for the ASE. As a PR rendering against that mirrored field, it would be awesome.

  34. says

    VABB,

    I think this is bad news. The CCAC has made a number of poor design recommendations recently, especially in regards to the 2015 AtBs. I admit I’ve lost some confidence in them.

    Another thing that worries me is the CCAC has become fixated recently on “getting beyond the rehashes of the classics, and the classical style” (to simplify and paraphrase) so I am a little concerned we will not see replacements with designs similar to the 2011 or 2013 platinum eagles.

  35. Louis says

    I agree with VABB that this would be a good time to revamp the whole thing, and I agree with the implication of CO’s comment, which is that the design needs to be a classic design. I think the CCAC members understand that, or at least I hope so.

  36. says

    A&L,

    I think they will sell very well, but not sell out. The maximum mintage for commemorative coins is extremely high.

    Still, we should see better results for these pieces than we have for any other commemorative in years.

    Louis,

    That is correct, I think we need to do a classic design (or possibly have someone like Joel Iskowitz do a “classic-style” design similar to the 2011 platinum eagle or the Medal of Honor gold commemorative). The ASE is America’s most popular coin and it deserves no less than the best we can do.

  37. VABEACHBUM says

    @ C.O. and Louis – we’re definitely in agreement on all counts. Not only is the ASE America’s most popular coin, it also is recognized immediately around the globe as America’s PM asset to own. After all, not all of those 40M coins per year are staying within our borders!!

    Iskowitz was the first name that came to my mind, as he certainly has had the hot hand for creativity and artistic rendering during the past several years.

  38. VABEACHBUM says

    On the topic of emails, just received another interesting one from my least preferred numismatic retailer – GM – along the lines of:

    “We have just taken delivery of a limited amount of the US Mint’s 2013 LESPS, and want to make it available to you for the unbelievable price of ONLY $249.99 per set… BLAH, BLAH, BLAH.”

    I certainly would hate to think that the folks at GM got there’s before any of the more honorable and well-deserving followers of this Board!! Good luck to those still waiting, and I hope GM doesn’t have to become your only available option.

  39. Samuel says

    Dusty,
    right.
    if it is unc, there should be no shiny stuff on it.
    and, it does not look like proof either.

  40. thePhelps says

    The coins looks like it is enhanced. Nothing saying they can’t do that on the gold coins…

  41. AkBob says

    Zeeman – OT – Do you happen to know where I can find a 2012 Year of the Dragon 1 oz Gold preferably PR70 PCGS? There is only 388 minted and I can’t find one in any condition. I wouldn’t normally ask this here but I don’t know where else to look for one and if there’s anyone else out there that knows of one please let me know. I have all of them except that one. Thanks in advance and I apologize for using this blog for this too.

  42. Eddie says

    From a lot of the designs it looks like the Mint only has 2 designers all the designs all look alike.
    I got my shipping notice about my LESP but the TRC has been moved back to 3-18.If they do mint a gold Kennedy half I hope it is 3/4 of an ounce and the size of a half a dollar.Since it is a special one they could knock off the premium the Mint charges just this one time I mean it’s not like they will go broke. They could even sale it for $1000.00. I know this is all crazy talk and if they do go with the double date I hope it is just with the gold edition. That way you don’t have to worry about any being gold plated and have all of the other one single dated.

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