10th Anniversary Platinum Eagle Coin Set Announcement
The US Mint has just officially announced details of the 10th Anniversary Platinum Eagle Coin Set. Many collectors have been eagerly awaiting this set as a follow up to last year's popular 20th Anniversary Gold and Silver Eagle Sets.
The sets will contain two coins- one proof coin and one reverse proof coin. The proof coin will feature frosted raised elements over a mirrored background. The reverse proof coin will feature mirrored raised elements over a frosted background.
Both coins will contain 1/2 ounce of platinum and carry the "W" mint mark. This is the first time the Mint has offered a platinum coin with the reverse proof finish.
The price per set will be $1,949.95. Production will be limited to 30,000 sets. Coins will go on sale December 13, 2007 at 12:00 Noon ET. Orders are limited to one per household.
Probably the most notable thing about this release is the relatively high mintage. For comparison, last year's 20th Anniversary Gold Eagle Set was limited to 20,000 sets and took several days to sell out. Platinum Eagle offerings have always been relatively less popular than Gold Eagle offerings, so the higher mintage is odd.
In my opinion this higher mintage will curtail some of the more speculative buying that contributed to the sell outs for last year's sets. Without a sell out, price appreciation for the set will likely take a much more measured pace on the secondary markets. Bottom line, buy the set if you collect Platinum Eagles or will enjoy the reverse proof coin. Don't necessarily expect immediate price appreciation.
Labels: Platinum Eagles