The American Eagle Bullion coin program welcomed a new addition in 1997 when the first Platinum Eagle coins were issued. This was the first time the United States Mint issued a coin minted in platinum. The 99.95% pure platinum coins had been authorized as part of the Omnibus Consolidated Appropriations for Fiscal Year 1997 (PL 104-208). At the time of release the US Mint Director was Philip N. Diehl and the US Treasury Secretary was Robert E. Rubin.
The 1997 American Platinum Eagle was available in 4 denominations, each with a specified fractional weight of platinum and a US legal tender value:
- 1 ounce : $100 Face Value
- 1/2 ounce : $50 Face Value
- 1/4 ounce : $25 Face Value
- 1/10 ounce : $10 Face Value
The obverse design of the coin features John Mercanti’s “Portrait of Liberty.” This is a rendition of the Statue of Liberty. The reverse design features Thomas D. Roger Sr.’s “Soaring Bald Eagle.” This is an image of a soaring Bald Eagle against a background sunrise.
Bullion versions of the 1997 Platinum Eagle were available from major coin and precious metals dealers based on the market price of platinum plus a premium.
Proof versions of the coins were offered to collectors directly from the US Mint. These coins were first available on June 6, 1997 in one ounce, one-half ounce, one-quarter ounce, one-tenth ounce sizes. The coins were also offered as a 4-Coin set containing one of each denomination, and a 3-Coin “Impressions of Liberty” set containing one ounce 1997 Proof Gold, Silver, and Platinum Eagles.
In this first year of issue, the mintages for the coin were some of the highest in the series. The table below provides mintage figures for 1997 proof Platinum Eagle in all denominations. Also included are the figures for the 4-Coin and 3-Coin Sets issued the same year.
1997 Proof Platinum Eagle Mintages
| Product Option | Final Sales | Original Price |
| 1 oz. Proof | 7,915 | $695.00 |
| 1/2 oz. Proof | 7,460 | $395.00 |
| 1/4 oz. Proof | 10,657 | $199.00 |
| 1/10 oz. Proof | 29,022 | $99.00 |
| 4 Coin Proof Set | 7,971 | $1,350.00 |
| Impressions of Liberty | 4,965 | $1,499.00 |
The second table contains mintages for the bullion version of the 1997 Platinum Eagle in all denominations.
1997 Bullion Platinum Eagle Mintages
| Bullion Weight | Mintage |
| 1 oz. | 56,000 |
| 1/2 oz. | 20,500 |
| 1/4 oz. | 27,100 |
| 1/10 oz. | 70,250 |
During 1997, the spot price of platinum ranged from a low of $342.50 to a high of $497.00. The cumulative average price for all of 1997 was $395.23.