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U.S. Mint Ends Four Year Platinum Coin Hiatus

Platinum Coins

Investors in precious metals, and in particular, platinum, will be excited to hear that the U.S. Mint has announced that they are resuming the production of platinum coins following a four year hiatus, as reported by the Chicago Tribune.

The U.S. Mint ceased minting U.S. platinum eagles following 2008 due to a drop in demand, as investors were more interested in traditional safe haven investments, such as gold, following the collapse of the financial markets in 2007 & 2008.  However, recent renewed interest has helped to support the production of these coins, which were first introduced in 1997.

While platinum is more rare than gold, industrial demand is the primary factor that affects its value in the commodities market, as its primary use is in the production of catalytic converters.  We’ll seen a moderate improvement in the economy over the past couple of years and increased demand for new vehicles, which has helped to support higher platinum prices.  Furthermore, more individuals appear to be viewing platinum as an investment than in years past.

Because industrial demand heavily influences the price of platinum, it has historically been more volatile than other popular precious metal investments, such as gold and silver. Furthermore, its price tends to more closely follow the strength, or lack thereof, of the overall economy.  In addition to industrial demand, platinum tends to perform relatively well during periods of loose monetary policies by the Federal Reserve.

Atlanta Gold & Coin Buyers is pleased to be able to offer 1/2 ounce and 1/4 ounce platinum eagles to our customers.  Because the U.S. Mint will only be minting one ounce American platinum eagles in 2014, it’s possible that we could begin to see a shortage of fractional platinum eagles in the marketplace, which may result in higher premiums in the future. Contact us today while prices remain reasonable, as we only have a limited supply of these coins on hand.

 

 

 

Tony Davis
Tony Davis
Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes. Tony frequently writes on various economic and numismatic related topics affecting the coin and bullion markets and has been published on some of the industry’s leading websites, including Coin Week, the American Numismatic Association, Coin Collector, Coinflation, and Coin Auctions Help, just to name a few. Visit Atlanta Gold & Coin’s website at atlantagoldandcoin.com to obtain additional information on the products, services and educational resources offered by his company. Tony can be reached at sales@atlantagoldandcoin.com or at 404-236-9744
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