Those who did not take the opportunity to buy the 2012-W American Platinum Eagle Proof Coin before today will now have to dish out $100 more to claim one.
A bit before 12:00 noon Eastern Time, the United States Mint raised the price of the 99.95% pure platinum coin from $1,692 to $1,792.
It was released nearly two weeks ago as the fourth issue within the six-year "Preamble series," which features a unique reverse design each year. As a point of interest, the starting price was actually down significantly from the debut of last year’s coin that first launched at $2,092.
What affects the coin’s price is the market cost of platinum. The United States Mint uses a weekly average of the precious metal to determine what it will charge for its American Platinum Eagle.
This year’s proof coin was released when platinum was held within a range between $1,350 and $1,449.99 an ounce. In the last several days, however, platinum prices have climbed sharply and now fall within a higher coin-price setting range of $1,450 to $1,549.99 an ounce. That triggered the $100 price increase.
The next possible pricing change could occur next Wednesday, August 29. For that to happen, the market price of platinum would need to move consistently into a new range.
Buyers can purchase the 2012-W American Platinum Eagle Proof Coin directly from the United States Mint website at http://www.usmint.gov/catalog.
There is currently a limit in place of five per household. The coin has a maximum mintage of 15,000. As of Monday, August 20, buyers have purchased 3,460.