Leftovers
32 - 2008-W $50 AMERICAN PLATINUM EAGLE

Owner Comments:

This coin is the most profound design-based rarity offered to the public by the Federal government in mint state or proof since 1915. Although 4,066 of them were struck, like many of the coins caught in the mintage crash of 2008, only 2,253 of them made it into the hands of the public resulting in an almost 50 percent scrap rate. There were many more orders taken than there were coins to distribute, giving the market the impression that the coins were common when they were in fact exceptionally rare. Audited final numbers showing the 2,253 mintage did not come out for over a year after the close of sales. As platinum’s price moved past the coin’s $ 635 purchase price in early 2009, some misinformed speculators holding more than they needed sold them off as common bullion. The “Legislative Branch” reverse on the 2008-W $ 50 Platinum Eagle is the third design in the Foundations of American Democracy short set celebrating the three branches of American government. Initially, the designs were to be the Car of History from the chambers of Congress, the Presidential Seal, and an eagle and owl perched together symbolizing wisdom and power to represent the Judicial Branch. When the coin came out a blindfolded image of Justice dressed in a long gown holding scales in her right hand and a sword in the left with a great bald eagle at her back was the selection. Impressive or not, the collectors who were following the series were shocked.

Jordan, Eric; Maben, John (2012-05-10). Top 50 Most Popular Modern Coins (Kindle Locations 887-899). F+W Media, Inc.. Kindle Edition.