The one ounce American Platinum Eagle coin was first introduced in 2010 and is absolutely stunning. It was released as part of the Preamble Series which first began in 2009 and commemorates the most important American democracy concepts. The theme for the 2010 edition is the establishment of justice, which is the second Preamble principle.

Features

The coin’s reverse side was produced by engraver/sculptor Phebe Hemphill and Master Artist Donna Weaver. The coin’s design emphasizes justice that is impartial, which is symbolized by the laurel branch and classical scales. Inscriptions that can be seen on the coin include “Justice the Guardian of Liberty,” “United States of America,” and $100 1 oz., .9995 Platinum. A new feature which isn’t found on other coins is the privy mark, which will be included for each coin within this series.

The privy mark is taken from a classical “coin punch” which is derived from the Philadelphia Mint. The obverse side of the coin was sculpted and designed by John Mercanti, the Chief Engraver for the U.S. Mint. Lady Liberty is the centerpiece of this side, which is used to symbolize commitment to duty and eternal vigilance.

Background

Each American Platinum Eagle coin is struck at the U.S. Mint which can be found in West Point. Each coin uses a “W” letter mint mark and mintage has been limited to no more than ten thousand units. The price for these coins is based partly on the price structure that is used by the U.S. Mint as well as the market price for platinum itself.

Although the United States Mint was first established in 1792, and is responsible for manufacturing legal coinage, it has rarely produced platinum up until recently. Historically, most of its coins have been either gold or silver, and its main task was to create a sufficient number of coins that could be used for circulation and domestic as well as international commerce. Recent advances in technology and a growing interest in platinum has prompted the mint to expand its offerings.

Plans to mint a platinum coin were first discussed during the 1990s, and by 1995 Philip Diehl, who was the U.S. Mint Director at the time, started the legislations process for producing a Platinum Eagle. It took two years to begin issuing the coins and initially they were in fractional denominations such as 1/10 ounce, ½ ounce, and ¼ ounce. By 2008 the U.S. Mint decided to discontinue the fractional coins and instead focus on one ounce issues.

Each platinum coin uses reeded edges and Proof variants were released for coin collectors. Bullion coins were only made available to authorized buyers. The Platinum American Eagle is distinct in that their design alternates on an annual basis, except for bullion. The intrinsic values of these platinum coins are much higher than the face value, and in 2007 the U.S. Mint introduced the anniversary set.