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Platinum Eagle 10th Anniversary Set Sales End
By Mike Unser

Sales of the US Mint American Eagle 10th Anniversary Platinum Coin Set ended this week. Included in the set were two one-half ounce .9995 platinum coins. One was a standard proof and the other was a special enhances reverse proof, which was a first.

The sets had a limited mintage of 30,000. The latest Mint sales figures show 19,257 sold, indicating, like other Mint products, that they were likely pulled as part of the Mintís move into 2009.

The 10th anniversary set had a storied line. The 2007-dated platinum coins launched on December 13, 2007 with a price tag of $1,949.95. London fix platinum at the time was around $1,420 an ounce, which meant the Mint was realizing a $171 premium over spot for the normal proof, and nearly $360 for the enhanced reverse. That caused some collectors pause.

Rising platinum prices forced the Mint to suspend sales of the sets in February of 2008. They returned in April with a much higher price tag of $2,649.95. But volatile bullion swings and the Mintís static pricing policy with its silver, gold and platinum coins caused further disruptions.

Platinum prices plunged, and the Mint again removed the set from their online stores. This time for several months with many collectors believing they were gone for good. Then, surprisingly, the anniversary set returned in mid November and was marked down to its lowest and final Mint price of $1,249.95.

Up to that point, the Mint had sold some 18,047 sets. Secondary markets like eBay had listed selling prices ranging between $2,195.88 and $2,449.95. The Mintís sudden and unexpected return of the coins shocked both sellers and recent buyers.

During the last several months, platinum reached as low as $788 an ounce on the London fix, which likely caused buyers further pause in purchasing the anniversary set.

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