2008-W Platinum Eagles Back on Sale

After nearly two and a half months of suspension and speculation on both sides of question, 2008-W Uncirculated and Proof Platinum Eagles are back on sale at the US Mint.

The coins had been suspended since August 7, when the price of platinum was $1,559 per ounce. The pricing for the products had been set earlier in the year when platinum was closer to its highs above the $2,000 level. Since the coins were suspended, the price of platinum has continued to decline to today's spot price of $863.

The US Mint has lowered pricing significantly from the last available prices:

2008-W Proof Platinum Eagles

	Price Aug 7	New Price
1 ounce	2,509.95	1,324.95
1/2 ounce	1,279.95	674.95
1/4 ounce	664.95	349.95
1/10 ounce	279.95	149.95
4 coin set	4,589.95	2,419.95

2008-W Uncirculated Platinum Eagles

	Price Aug 7	New Price
1 ounce	2,349.95	1,214.95
1/2 ounce	1,199.95	619.95
1/4 ounce	619.95	319.95
1/10 ounce	259.95	134.95
4 coin set	4,289.95	2,219.95

You can find the coins for sale on the US Mint's website here and here.

As recently as this week, I examined some of the secondary market prices for the 2008-W Platinum Eagles. Coins were selling for huge premiums above the Mint's original offering prices. The return of the coins for sale at lower prices will definitely have an immediate and drastic impact.

Perhaps the silver lining : The Mint announced that they will be halting production of 2008 dated platinum bullion coins once the current blank supplies are exhausted. Based on this, it is possible that they have also stopped producing 2008 dated platinum collector coins. If this is the case, the current offering might be remaining inventory for the last production run. Once these are gone and the coins are "officially" sold out, the market can determine the proper price based on the projected final mintage and availability of the coins. And if nothing else, the absence of the coins has certainly generated some new buzz around the series.