Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, July 1, 2008

2008 Proof Platinum Eagles Suspended

Yesterday evening the US Mint suspended sales of the 2008 Proof Platinum Eagle Coins for all remaining options.

A previous suspension has been in place for the past five weeks for the 4 coin Proof Set. The one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce individual proof coins now join the suspension.

The 2008 Proof Platinum Coins initially went on sale May 5, 2008 when the price of platinum was $1,921 per ounce. Yesterday the closing price of platinum was to $2,063 per ounce.

The timing of the suspension is somewhat odd. In the past 30 days the price of platinum has sometimes been higher yesterday's price. Around mid-June the price spiked as high as $2,100 per ounce. Also, platinum was above the $2,060 level on at least four other occasions last month.

One possible reason for putting the suspension into place now, might be the upcoming 2008-W Uncirculated Platinum Eagles. These coins will go on sale at the Mint some time in June/July (no specific date yet).

Traditionally, the proof versions have a slight premium above non-proof versions. Perhaps the Mint wants to price both offerings together in order to make sure the prices correlate.



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