A rare production proof accidentally released by the U.S. Mint fifteen years ago was recently discovered by GreatCollections and will be auctioned on Sunday, November 13th.
The 2007 $100 One-Ounce Platinum Eagle Frosted "FREEDOM" is one of just 12 coins minted by the U.S. Mint, before they changed the design to have the word appear in a mirror finish so it is easier to read.
Only one other $100 One-Ounce coin is known. It was discovered in 2011, prompting the U.S. Mint to confirm up to 12 of the $100 One-Ounce denomination were minted, along with 21 each of the $50 Half-Ounce and $25 Quarter-Ounce denominations in 2007.
During a routine inventory at the U.S. Mint, the "Frosted Freedom" coins were counted with all of the revised versions. After the inventory was complete, staff neglected to remove them from the stock that was eventually shipped to customers.
Ian Russell, president of GreatCollections said, "This is one of the most important modern patterns or trial pieces from the U.S. Mint, and we are excited to bring to auction."
In 2014, GreatCollections auctioned the first Quarter-Ounce $25 with Frosted "FREEDOM" to be graded by PCGS, which set a world record price of $69,300. Only one other of each denomination was discovered in 2011.
Photos of the error were inadvertently distributed in 2007 to news agencies and was even published as the regular issue in The Guide Book of U.S. Coins, also widely known as the "Red Book".
The 2007 $100 One-Ounce Platinum Frosted "FREEDOM" will be on view at the Baltimore Winter Expo (Table 345, October 27-29, 2022) and at the Irvine, California headquarters of GreatCollections by appointment. To view high-quality images and register to bid, visit www.greatcollections.com or call 800-442-6467.
2007 Frosted Freedom Census (As at 10/20/2022)
| Denomination | Minted | Known |
| $25 Quarter-Ounce | 21 | 2 |
| $50 Half-Ounce | 21 | 1 |
| $100 One-Ounce | 12 | 2 |
About GreatCollections
GreatCollections, the official auction house of the American Numismatic Association, specializes in auctioning certified coins and banknotes, handling transactions from start to finish. Since its founding in 2010, GreatCollections has successfully auctioned over 1 million certified coins, making it one of the leading certified coin companies in the United States with annual sales in 2021 exceeding $235 million. Ian Russell, owner/president of GreatCollections, is a member of the prestigious Professional Numismatists Guild and member of the National Auctioneers Association. For more information about GreatCollections, visit www.greatcollections.com or call 800-442-6467.
First I heard of this error. I have the 10th anniversary set, which contains the 1 oz version in proof and reverse proof. Unfortunately, my 1 oz proof is now confirmed to have the mirror finish. Oh well. 10 lucky people out there somewhere have this error and do not know it yet.
Of course these errors have to be in platinum or gold. Rue the day that any of our silver coins turn up an error.
Surely more gold errors. Sorry for the error.
Hi Kaiser Wilhelm, I know I would value it based on how many were minted (12), versus how many they have found (2). I would think someone paying as if there are only 2 will not fare so well after more turn up. And I am guessing it will sell at auction for a higher price now than it would if all 12 were currently located. So it seems to me whoever buys it now will be overpaying. It is not like a platinum coin will be found circulating in regular change some day. These are all safely stored somewhere… Read more »
Hi Jeff,
The American Eagle 10th Anniversary Platinum 2-Coin Set contains one proof coin and one enhanced reverse proof coin, each containing one–half ounce of .9995 platinum.
Hilarious. I even took both out to look at them the first time. The “Freedom” part, anyway. Thanks for setting the record straight, Rich. I just pulled the set out again and looked at the certificate. No need to look at the coins again. I am sure I knew that at one time. And of course, now I do remember the set was an ounce. Because I remember that I only own 1 oz of Platinum total. Well, to be fair I have not looked at or thought of the set for a few years. I think I recall Platinum… Read more »
Sir Kaiser and Jeff, you have correctly framed the contemporary price trends of Platinum. Platinum awoke in January 2002 at $500 per ounce (along with gold at $270 per ounce), and relentlessly rose in price through the first-half of 2008, peaking at $2,200. Then the bullwhip cracked and platinum plunged to $835 in the second-half of 2008. It rose again and reached a high of $1,850 in the summer of 2011. From there, it steadily drifted downward and hit bottom in March 2020 at $700. This month, its price is back around $900.
Wow Rich, I do not know if I dodged a bullet, but I see I bought my 2007 Platinum set from the Mint in Dec 2008 for $1250. It was just chance I bought it then. I had recently decided I should have a bit of Platinum. It is too long ago for me to remember if I bought that set long after it was released or on the first day. The fact that it is dated 2007 and I bought it in late 2008 makes me think I bought it long after release. To think I could have paid… Read more »
Thanks for the info about Walmart and APMEX, Kaiser Wilhelm. I was imagining rows of display cases selling old coins at Walmart when I saw the ad. I did notice APMEX popped up when I did a coin search not too long ago, but have no idea who they are. The price they offered look quite reasonable but it made me wonder if the quality would match the price.
I will second that thought. $500 would be a good start. Or maybe $250 Platinum, $500 Gold and $1000 Palladium. That should be low enough that the government never finds the face value higher than the actual value. With face values like that, you might start finding the occasional ignorant person putting a precious metals coin in circulation. What a thrilling find something like that would be.
Right you are No. 1.
Second that motion
Sir Kaiser, I think it is partly related to the US Government book value of gold which is still currently $42.22 per troy ounce (this value was established by law set in 1973). The Fort Knox Bullion Depository stores only gold (no silver, platinum or palladium is stored there).
Nor gold pressed latinum.
Oh, you’re familiar with the collective. I believe it’s also known as the IRS.
Hi Rich, Does that mean the government does not pay more than that per ounce? They appear to make quite a nice profit (certainly not a 2x or 3x cost basis profit, hahaha) on their Gold sales then. Is there something similar going on with the Platinum and Palladium prices as well? I figure Palladium is such a new coin material for them, there is no way they could have set a Palladium price in 1973. If the government is paying more than the book value for Gold currently, then it sounds like all this is about is an accounting… Read more »
You’re asking for miracles.
I think it is bad either way, Kaiser Wilhelm. If it is the way I speculated in the first post, then I think that means the profit we keep hearing the Treasury is sending to the Government every year is an inaccurate, inflated figure made to appear better through accounting tricks. If it is the other way (Government paying $42.22 but selling at near $1700 currently) I cannot help but feel like everyone has been overpaying for Gold for a long time. I know too little about finance/accounting to know for sure if that low book value is bad, but… Read more »
I may be lacking in the comprehension of a significant element of this situation, Jeff Legan, but it seems to me that the U.S. Government or any of its agencies would have a hard time finding anyone willing to sell it gold at the rate of $42.22 per ounce.