The U.S. Mint said it will resume selling its American Eagle platinum bullion coins on March 10, ending a four-year exit from the market, due to renewed interest from investors and dealers.
The U.S. Mint will offer the platinum bullion coins at a 4 percent premium over the spot price. Only 1-ounce coins will be sold, the Mint told authorized dealers in an email on Tuesday that was seen by Reuters.
Tom Jurkowsky, U.S. Mint's director of corporate communications, told Reuters the Mint notified its authorized purchasers about the platinum coin sales on Tuesday.
The Mint has built up an inventory ahead of the coins going on sale, the email said.
Michael Kramer, president of Manfra, Tordella & Brookes, a major U.S. coin wholesaler in New York, said dealers have already received significant advanced orders following Tuesday's notice.
"We have already sold 1,000 of them without even trying," he said.
The Mint stopped producing platinum bullion coins in 2008 as collectors and retail investors bought fewer coins after prices soared at the start of that year. Interest turned to gold coins as a safe-haven investment later that year at the height of the world economic crisis.