Would-be buyers of the collector versions of the platinum American Eagle were given one last bite of the apple Oct. 17 when repriced “W” proof and uncirculated platinum Eagles were put on sale on the U.S. Mint’s Web site.
They had been off the market for weeks as the Mint struggled to use its cumbersome pricing mechanism to arrive at new and lower values in a rapidly changing metals market environment.
Already by Oct. 20, at least one option, the “W” tenth-ounce uncirculated American Eagle was already no longer available, indicating the larger issues of adequate supply that have dogged the bullion coin issues continue.
The new prices were somewhat more than half those the coins were selling for when they went off the market.
The one-ounce proof was priced at $1,324.95, as compared to the initial issue price of $2,299.95 in May.
The one-ounce uncirculated piece is priced at $1,214.95 as compared to the July issue price of $2,349.95.
For the half-ounce coins, the proof is now $674.95 and the uncirculated is $619.95, down from the $1,174.95 and $1,199.95 initial prices, respectively.
The quarter-ounce proof is $349.95 and the uncirculated is $319.95, down from $609.95 and $619.95, respectively.
The proof tenth-ounce is priced at $149.95 and the uncirculated was at $134.95 when it went off sale. Initial prices were $269.95 and $259.95, respectively.
A four-coin platinum Eagle proof set is now priced at $2,419.95, down from $4,119.95 when it was first introduced. The uncirculated set is $2,219.95, down from $4,289.95.
Platinum has slid in metals market trading by approximately two-thirds since its peak in the spring.