Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, December 19, 2007

Platinum Update- 10th Anniversary Platinum Eagle Set

The 10th Anniversary Platinum Eagle Set went on sale last week. Early indications seem to suggest that the sets are selling briskly, but I have not seen any official sales numbers released yet. Due to the set's relatively high authorized mintage of 30,000 sets, an immediate sell out was not expected. I will continue to look for any sales information and post when available.

A possible catalyst for increased sales of the set is the price of platinum. Platinum is now trading at an all time high of $1,512 per ounce. This is already up $38 from the day the 10th Anniversary Platinum Eagle Sets were first offered. As the price of platinum continues to rise, the sets will become a better relative value since they contain 1 ounce of the metal.

Also, if the price of platinum really spikes, the Mint could possibly suspend sales of the set, as they have done for other bullion related products.

Separately, PCGS has recently released guidance on submitting the 10th Anniversary Platinum Set coins for grading. The guidance is similar to NGC's rules, where the sets must be submitted in original, sealed, unopened Mint packaging in order to receive the designation.

10th Anniversary Platinum Eagle Set Announcement
10th Anniversary Platinum Eagle Set on Sale Tomorrow
NGC Submission Guidelines for 10th Anniversary Platinum Set Coins



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