The American Platinum Eagle is the United States Mint's .9995-fine platinum bullion coin, struck in 1 troy ounce and, in the past, in three smaller sizes, since 1997. JM Bullion priced the 1 oz coin at a 19.7% premium over its $1,763.90 platinum spot ask on 5-6 August 2026, nearly three times the 7.2% a generic 1 oz platinum bar carried the same day, and the 1/10 oz coin's 99.0% premium ran five times wider still. What sets that premium, what the coin's mintage record does and does not show, and whether it qualifies for a platinum IRA under IRC §408(m) are covered below, section by section, alongside a dated comparison against plain platinum bars.
What Is the American Platinum Eagle?#
The American Platinum Eagle is a .9995-fine platinum bullion coin struck by the United States Mint, first issued in 1997. John Mercanti designed the obverse's Liberty portrait and Thomas D. Rogers designed the original reverse, both introduced at the coin's 1997 debut; the proof version's reverse design has changed annually since. The Eagle sits alongside five sibling platinum bullion coin programs from Canada, Australia, the UK and Austria, covered under Other Platinum Bullion Coins below, and within the wider set of routes for investing in platinum, which also include bars, exchange-traded funds and futures.
At $100, the one-ounce Eagle carries the highest face value in the Mint's regular bullion programs, though the claim needs a caveat: the Mint's American Liberty high-relief one-ounce .9999 gold coin also carries a $100 denomination, in a separate numismatic series the Mint markets apart from its regular bullion output. Read narrowly, "bullion coin" excludes that numismatic series. Either way, the $100 face value is a legal-tender denomination fixed by statute, not a market price; a 1 oz coin's market value tracks the platinum price plus a dealer premium, covered under Current American Platinum Eagle Premium Over Spot below.
American Platinum Eagle Specifications#
The one-ounce American Platinum Eagle weighs 1.0005 troy ounces (31.12 g) of .9995-fine platinum (Pt, atomic number 78), 32.7 mm in diameter and 2.39 mm thick, with a $100 face value. That fineness, 99.95% pure platinum, is the same NYMEX delivery-grade standard that defines platinum's IRA eligibility, covered under Is the American Platinum Eagle IRA-Eligible? below. A troy ounce, at 31.1034768 g, runs slightly heavier than the everyday avoirdupois ounce (28.3495 g), which is why the coin's 31.12 g gross weight reads just above a plain "one ounce" in kitchen-scale terms. The table lists every specification for the current 1 oz issue.
| Specification | Value |
|---|---|
| Denomination | $100 |
| Diameter | 32.7 mm |
| Thickness | 2.39 mm |
| Weight | 1.0005 troy oz t (31.12 g) |
| Fineness | .9995 |
| Metal | Platinum (Pt) |
| Mint | United States Mint |
| First year | 1997 |
American Platinum Eagle Fractional Sizes#
The American Platinum Eagle has also been struck in 1/2, 1/4 and 1/10 troy ounce sizes, all discontinued after the 2008 issue; only the 1 oz coin has been struck in every year since. Each fractional size carried its own face value, a fraction of the 1 oz coin's $100 denomination, and its own diameter and thickness, listed below.
Table: American Platinum Eagle fractional-size specifications
| Denomination | Face value | Diameter | Thickness | Weight |
|---|---|---|---|---|
| 1/10 oz t | $10 | 16.5 mm | 0.95 mm | 0.1001 oz t (3.11 g) |
| 1/4 oz t | $25 | 22.0 mm | 1.32 mm | 0.2501 oz t (7.78 g) |
| 1/2 oz t | $50 | 27.0 mm | 1.75 mm | 0.5003 oz t (15.56 g) |
| 1 oz t | $100 | 32.7 mm | 2.39 mm | 1.0005 oz t (31.12 g) |
All three fractional sizes, 1/2, 1/4 and 1/10 oz, were discontinued after the 2008 issue; only the 1 oz size has been struck since.
That discontinuation shows up directly in resale: the smaller a discontinued fractional coin, the wider its premium over spot runs today, a pattern covered in full under Current American Platinum Eagle Premium Over Spot below.
American Platinum Eagle Design Series#
The Eagle's proof reverse changes annually under a named design series, and CoinNews reports that the 2026-2028 Charters of Freedom series began with the 2026-W "Declaration of Independence" issue after the 2025-W proof concluded the five-year First Amendment series. The bullion coin's obverse has carried John Mercanti's Liberty portrait since the 1997 debut, and Thomas D. Rogers designed the original 1997 reverse; every proof year since has introduced a new reverse under its own multi-year series theme. Each series runs for three to five years before the next theme begins, so a proof's exact year identifies both its individual design and the broader series it belongs to. The design series give the annual proof its collector appeal, separate from the bullion coin's role as a store of platinum content.
American Platinum Eagle Mintage#
The US Mint does not publish an annual bullion-strike mintage figure for the Platinum Eagle; the 2026-W proof edition carries a mintage limit of 15,000 coins, of which CoinNews reported 1,577 sold on the first day, 6 February 2026. The 2025-W proof, which concluded the First Amendment design series, sold 6,456 coins by the US Mint's final weekly sales report of the year, according to CoinNews. Both figures describe the proof program only; the Mint publishes no comparable bullion-strike sales total for the 1 oz coin that authorized purchasers distribute to dealers.
A 2024 proof mintage total and a claim that the Mint's bullion platinum products were listed as unavailable in December 2025 both circulate in secondary research sources, but neither could be independently confirmed this cycle, so DailyPlatinum does not publish either figure as fact. Readers comparing mintage across years should treat any unpublished bullion-strike total as unpublished, not as zero or unavailable. DailyPlatinum revisits this page as new US Mint sales reports and CoinNews figures become available, rather than filling the gap with an unconfirmed number now.
Current American Platinum Eagle Premium Over Spot#
As of 5-6 August 2026, JM Bullion priced the 1 oz American Platinum Eagle at a 19.7% premium over its $1,763.90 platinum spot ask, rising to 45.4% on the 1/4 oz coin and 99.0% on the 1/10 oz coin. That spot ask is a single dated data point; for the current spot ask, see platinum price today. The table below lists every size and finish JM Bullion priced that day.
Table: American Platinum Eagle premium over spot, JM Bullion, 5-6 August 2026, platinum spot ask $1,763.90/oz
| Product | Price | Metal value at spot | Premium % |
|---|---|---|---|
| 1 oz BU, random year | $2,110.89 | $1,763.90 | 19.7% |
| 1/4 oz BU | $640.97 | $440.98 | 45.4% |
| 1/10 oz BU | $351.09 | $176.39 | 99.0% |
| 1 oz Proof, various years | $2,153.89-$2,753.89 | $1,763.90 | 22.1%-56.1% |
| 2026 QE First Effigy Proof | $3,263.89 | $1,763.90 | 85.0% |
JM Bullion's listed 1/2 oz BU price that day was exactly half the 1 oz price, the signature of a derived figure rather than an observed dealer quote, so DailyPlatinum omits it here rather than publishing it as an observed price.
The 1 oz coin's 19.7% premium is a snapshot from a single dealer on a single day, and it moves with the market conditions covered next; a buyer checking a different dealer or a different week should expect a different number, not this exact figure.
What Drives the American Platinum Eagle's Premium#
Three factors set the Eagle's premium: coin size, its sovereign recognizability, and the platinum lease rate that fabricators pay to hold metal in the production pipeline. Each factor pushes the premium in the same direction, listed below in the order it shows up in the JM Bullion table above.
- Coin size: fabrication cost per coin is roughly fixed regardless of weight, so it amortizes across less metal as the coin gets smaller; the sequence runs from a 1 kg platinum bar's 5.2% premium up through a 1 oz bar's 7.2%, a 1 oz coin's 8.9% to 19.7% and a 1/10 oz coin's 99.0% (JM Bullion, 5-6 August 2026).
- Sovereign recognizability: a US Mint coin with legal-tender status and authorized-purchaser distribution commands a wider premium than a generic bar of the same weight; the Eagle's 19.7% runs well above a 1 oz bar's 7.2% on the same day.
- Platinum lease rate: fabricators typically lease metal rather than buy it outright to supply the coining pipeline, and the World Platinum Investment Council's Platinum Quarterly Q1 2026 reports platinum's three-month lease rate rising from about 3% in late 2024 to above 20% by mid-2025, staying "well above historical norms" into 2026.
When the lease rate climbs above roughly 20%, WPIC notes, the annualized cost of holding metal in the fabrication pipeline can exceed the entire manufacturing margin, so fabricators withdraw product rather than raise prices smoothly. The retail symptom is out-of-stock listings alongside blown-out premiums at the same time, not a gradual price climb.
Is the American Platinum Eagle IRA-Eligible?#
The American Platinum Eagle meets the 0.9995 IRA purity threshold for platinum under IRC §408(m)(3)(B), and it is separately named as an eligible coin under §408(m)(3)(A). Section 408(m) treats an IRA's acquisition of a "collectible" as a taxable distribution, but §408(m)(3)(B) exempts bullion of a fineness at or above what a regulated futures contract market requires for delivery, provided a qualifying trustee holds it in physical possession, and §408(m)(3)(A) separately names specific US and state-issued coins, including the American Eagle series.
That purity bar is stricter for platinum than for gold. The table below sets platinum and palladium's 0.9995 IRA minimum, tied to the NYMEX delivery standard, against gold's 0.995, tied to the COMEX gold delivery standard.
Table: IRA minimum fineness by metal
| Metal | IRA minimum fineness | Derivation |
|---|---|---|
| Gold | 0.995 | COMEX gold delivery standard |
| Silver | 0.999 | COMEX silver delivery standard |
| Platinum | 0.9995 | NYMEX platinum delivery standard |
| Palladium | 0.9995 | NYMEX palladium delivery standard |
Platinum's threshold is not an arbitrary round number; it follows directly from the delivery specification of the metal's own futures contract, the same mechanical link that sets silver's 0.999 and gold's 0.995. Rhodium, iridium, ruthenium and osmium have no IRA route at all, since §408(m)(3)(B) names only gold, silver, platinum and palladium.
American Platinum Eagle Compared with Platinum Bars#
Gram for gram, the American Platinum Eagle's 19.7% premium runs well above a plain 1 oz platinum bar's 7.2%, in exchange for sovereign recognizability and, where eligible, IRA use. The table below sets the Eagle beside four bar and coin products JM Bullion priced on the same day.
Table: Coin vs bar premium over spot, JM Bullion, 5-6 August 2026
| Product | Premium % | Basis |
|---|---|---|
| 1 kg platinum bar | 5.2% | JM Bullion, 5-6 Aug 2026 |
| 10 oz platinum bar | 6.1% | JM Bullion, 5-6 Aug 2026 |
| 1 oz platinum bar, varied mint | 7.2% | JM Bullion, 5-6 Aug 2026 |
| 1 oz Canadian Platinum Maple Leaf | 8.9% | JM Bullion, 5-6 Aug 2026 |
| 1 oz American Platinum Eagle | 19.7% | JM Bullion, 5-6 Aug 2026 |
A bar carries no legal-tender status and no annual design change, so its premium tracks fabrication and dealer cost alone; the Eagle's wider premium buys a recognizable, IRA-eligible product that a bar of the same weight and purity does not automatically provide. DailyPlatinum states no preference between the two forms; the choice depends on whether a buyer values liquidity and lower entry cost, which favor the bar, or sovereign backing and IRA eligibility, which favor the coin. Both forms hold the same underlying .9995 or better platinum, so neither carries more metal risk than the other; the difference sits entirely in premium, recognizability and eligibility, not in the metal itself.
On resale, both forms are paid on assayed platinum content, and selling platinum for scrap covers how a refiner values metal that is not resold as an intact bullion product.
Other Platinum Bullion Coins#
Platinum's other bullion coin programs, from the Canadian Maple Leaf to the Australian Kangaroo, are covered on their own pages. Five sibling coins share the Eagle's .9995 or higher fineness and 1 oz format, listed below with their issuing mint.
| Coin | Mint | First year | Fineness |
|---|---|---|---|
| Canadian Platinum Maple Leaf | Royal Canadian Mint | 1988 | .9995 (1988-2002); .9999 (2009-present) |
| Platinum Britannia | The Royal Mint (UK) | 2018 | .9995 |
| Platinum Philharmonic | Austrian Mint | 2016 | .9995 |
| Platinum Kangaroo | Perth Mint | current | .9995 |
| Platinum Koala | Perth Mint | 1988 | see coin page |
Fineness aside, each program sets its own terms, listed below, which its own page covers in full.
- Face value: each mint sets its own legal-tender denomination, unrelated to the coin's platinum content.
- Mintage policy: mintage disclosure varies by program and by bullion versus proof strikes, covered on each coin's own page rather than assumed here.
- Fractional-size history: some programs still strike sub-ounce sizes; the Eagle does not, since 2008.
Frequently Asked Questions#
How much is a platinum American Eagle worth?#
A 1 oz American Platinum Eagle is worth the platinum spot price plus a dealer premium, which JM Bullion priced at a 19.7% premium over its $1,763.90 spot ask on 5-6 August 2026. Its $100 face value is a legal-tender denomination set by statute, not a market price.
How many platinum eagles were made?#
The US Mint does not publish an annual bullion-strike mintage figure for the Platinum Eagle. The 2026-W proof carries a mintage limit of 15,000 coins, of which CoinNews reported 1,577 sold on the first day, and the 2025-W proof sold 6,456 coins.
Why are platinum eagles so expensive?#
Platinum eagles carry a premium over spot because of fabrication cost, sovereign recognizability and, since 2025, elevated platinum lease rates that make small bars and coins costlier to fabricate. The 1 oz coin's 19.7% premium ran well above a generic 1 oz bar's 7.2% on 5-6 August 2026 (JM Bullion).
What is the value of a $100 American Platinum Eagle coin?#
The $100 face value is a legal-tender denomination, not the coin's market value; a 1 oz Eagle traded for $2,110.89 on 5-6 August 2026 (JM Bullion), more than 21 times its face value. The Mint's American Liberty gold coin also carries a $100 face value, so the denomination is not unique across the Mint's full output, only within its regular bullion programs.
Is the American Platinum Eagle a good investment?#
DailyPlatinum gives no investment recommendation. The Eagle's sourced premium, its IRA eligibility under IRC §408(m), and its wider premium than a plain platinum bar are the facts on this page; readers weigh them against the routes compared on investing in platinum.
How much is 1 oz of platinum worth today?#
One troy ounce of platinum's current spot price is tracked separately: see platinum price today.