AUSTIN, Texas, Jan. 4, 2023 /PRNewswire/ -- Today, the United States Mint dominates the global platinum coin market, but it didn't strike its first platinum coin until 1997. This week on U.S. Money Reserve's "In Conversation," 35th Director of the U.S. Mint (1994–2000) and U.S. Money Reserve President Philip N. Diehl and 38th Director of the U.S. Mint (2006–2011) and U.S. Money Reserve Senior IRA Strategist Edmund C. Moy discuss the story of how the Platinum Eagle coin was launched.
WHY THE U.S. MINT DOMINATES THE PLATINUM COIN MARKET
When the U.S. Mint first looked into producing platinum coins, the markets were primarily in Canada and Japan. Winning over both markets would be necessary to establish the U.S. Mint as the lead producer of platinum coins, so Mint Director Diehl developed a plan to win over the Japanese market. Knowing that displays of respect are important in Japanese culture, Diehl traveled to Japan to meet the patriarch of a family that controlled the Japanese coin distribution market and discuss the design plans for the coin the Mint had decided on.
Using the Statue of Liberty as a symbol of American values, the American Platinum Eagle features a closeup of Lady Liberty's face, with the motto "In God We Trust" on the obverse and a classic eagle design on the coin's reverse.
Director Diehl's visit was a success, and the Platinum Eagle became popular in both Japan and around the world. Not long after the coin was launched, it took over 70% of the platinum coin market. The success of the program paved the way for further projects by the Mint, such as the 50 Statehood Quarters program and the Ultra-High Relief Double Eagle championed by Director Moy.
For more information or to speak with company leadership at U.S. Money Reserve, please contact Christol Farris at 512-568-9991 or [email protected] or visit www.usmoneyreserve.com.
About U.S. Money Reserve
U.S. Money Reserve is one of the nation's largest private distributors of U.S. government–issued gold, silver, platinum, and palladium products.
Founded in 2001, U.S. Money Reserve has grown into one of the world's largest private distributors of U.S. and foreign government–issued gold, silver, platinum, and palladium legal-tender products, as well as precious metals IRAs. Hundreds of thousands of clients across the country rely on U.S. Money Reserve to diversify their assets with physical precious metals, primarily in the form of U.S. gold and silver coins.
U.S. Money Reserve's uniquely trained team includes coin research and numismatic professionals equipped with the expert market knowledge to find products that offer the highest profit potential for precious metals buyers at every level. U.S. Money Reserve goes above the industry standard to provide superior customer service, with the goal of establishing a long-term relationship with each and every one of its customers. U.S. Money Reserve is based in Austin, Texas.
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