Platinum American Eagle Proof 70 Coins

The United States Congress authorized the U.S. Mint to make .9995 platinum coins in 1996. For each year from 1997 to 2008, the Mint made 4 coin sizes: 1oz ($100 face value), 1/2oz ($50), 1/4oz ($25) and 1/10 oz ($10). The 1oz has the highest face value of any U.S. coin. For each of these years, the Mint created a regular "Mint State" version of the coin, made for circulation, and a Proof coin, especially for investors.

There are many fewer proofs than mint state coins minted each year and only a very small percentage of those coins achieves a Proof 70 certification, which guarantees that the coin is in perfect “museum-quality” condition. These are the most prized coins for investors, who value the coins for their extreme rarity and supply, which combined with increasing demand, can drive the value up over time.

Starting in 2009, the Mint discontinued the Mint State versions and has only minted the 1oz proof version of the coin. The American Platinum Eagles are the only precious metals coins issued by the U.S. Mint that have a different reverse design each year, which has led many investors to try to piece together a Date Run, with at least one example of the coin for each year it has been minted.

Investment Grade Platinum Eagles in perfect Proof 70 condition are valued for their rarity and do not go up and down in price with the whims of the commodities market, which has made their value more stable over time than platinum bullion alone. The U.S. Gold Bureau recommends these coins as a long-term store of value, to help protect your portfolio from turbulent economic times.

Platinum American Eagle coins contain 99.95 percent platinum. The one-ounce coin has a face value of $100 (the largest of any U.S. coin), measures 1.287 inches in diameter and weighs 1.0005 troy ounces. Platinum Eagle coins are considered legal U.S. tender and the weight and purity and guaranteed by the U.S. Treasury Department. Since the beginning in 1997, Platinum American Eagle Proof Coins have had a limited mintage. The are produced at the West Point Mint and feature the "W" mint mark on each coin.

The theme for the reverse design of the 2012 Platinum Eagle is "For the Common Defence." The spelling of the word "defence" is taken from the original text of the Preamble of the Constitution and is different from the common modern spelling of the word "defense."

In January 2013, a rush of pundits, experts and media sources reported that the federal government was considering the mintage of a single trillion dollar platinum coin to pay the federal deficit. This seemingly ridiculous idea to mint an ultra-exclusive, one-of-a-kind platinum coin was endorsed by a bevy of respected voices, including Paul Krugman, U.S. Representative Jerry Nadler, Bloomberg’s Josh Barro, The Huffington Post, and even the German paper Süddeutsche. The concept called for Treasury to take advantage of legal technicality. Although the Treasury can’t print money specifically to pay its bills, there is a detail that gives the Treasury the option to mint platinum coins of any denomination. Because of this, it would appear to be perfectly legal to have a single coin minted, then deposited as legal tender in the Treasury’s bank account.

Originally proposed as a lark, fears of a "Fiscal Cliff" crisis made the "Trillion Dollar Coin" worth a second look. “Basically, the trillion-dollar coin would just allow the Treasury, which pays the country's bills, to keep writing checks regardless of what Congress does with the debt ceiling,” explained Henry Blodgett, editor-in-chief of Business Insider.

The 1997 Platinum Eagle was the first ever minted and is the only proof with the same reverse design as the circulating version of the coin, which was designed by Thomas D. Rogers, Sr. The 1998 Platinum Eagle Proof was the first in a 5-year series titled Vistas of Liberty, which celebrated the variety of American landscapes. The 2003 Platinum Eagle returned to a more traditional design, overseen by Al Maletsky. It featured a Bald Eagle and the nation's flag on the same coin for the first time. Maletsky’s initials (AM) appear just below the pine branch.

Starting in 2004, the Platinum Eagles have featured designs that go along with a designated theme. Each theme is carried across multiple years and forms part of a series. Each series celebrates a different part of American patriotic and governmental history.

For 2004, sculptor Donna Weaver, who also designed the American Buffalo Silver Dollar and several state quarters, took the helm from Maletsky. Her design kicked off the five-year Foundations of Democracy series and was inspired by a classic Daniel Chester sculpture titled "America," with a cape thrown confidently over America's shoulder. The coin's purity and weight were also separated for the first time. Weaver placed her initials (DW) just above the center point of the throne’s base. The "Foundations" series culminated in 2008 with a 1oz Platinum Proof celebrating the Judicial Branch of the federal government.

The Preamble Series of Platinum Proofs runs for six years and features designs on the front (obverse) themed around American democracy and the Preamble of the Constitution. The 2009 coin has a theme of "To Form a More Perfect Union" and marked the first time that only the 1oz coin was minted. Other coins in the series include: 2010 (To Establish Justice), 2011 (To Insure Domestic Tranquility), 2012 (For the Common Defence), 2013 (To Promote the General Welfare) and the final coin, to be minted in 2014 ("To Secure the Blessings of Liberty to Ourselves and our Posterity").

This 2-coin series features modern portraits of Lady Liberty, with striking designs and limited mintages.

The 2017-dated coin commemorates the 20th anniversary of the inaugural mintage of the coin and features the original obverse and reverse designs that were used in 2007.

This 5-year series will reflect the five freedoms in the First Amendment - “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.” The first coin in the program was the Freedom of Religion, followed by the Freedom of Speech in 2022. The 2023 release represented Freedom of the Press and the 2024 is the Right to Assemble.