Platinum Coins

Platinum Coins

Platinum provides more than just function.

Two centuries ago, platinum was a nuisance metal that South American settlers found interfering in mining operations. By the turn of the 19th century, the metal was being mined in Ural Mountains, and was minted into a form of Russian currency. Today, it is used in the automotive, chemical and electrical industries, in addition to being used in jewelry and a sought-after collector’s item. While it once cost far less for an ounce of platinum than it did for gold, platinum bars and platinum coins today sell for far more than their yellow counterparts.

This is in part because of the scarcity of platinum. At current usage levels, almost 25 years of supply are left in above-ground gold deposits. The same cannot be said of platinum – less than a year’s worth can be found above the earth’s surface, and all of the platinum ever mined would not come close to the amount of gold that has been pulled from the earth. Because of its use, rarity and strength, platinum coins and bars have gained strength in the commodities investment industry, a trend we believe will only continue.

Platinum bullion is most often collected in the form of bars and platinum coins, but it is important that any investor knows exactly where their platinum is coming from, how pure it is and what weight of platinum they are receiving. While many independent companies mine and mint platinum, some of the most secure options for buying platinum bullion come from world governments like that of Canada and the United States. Both sell platinum coins that are guaranteed to be 99.95% pure, the form of the Canadian Maple Leaf and the American Eagle respectively. We always recommend coins such as these, as they are considered to be private sale and cannot be recalled, but also come with the guarantee of a government mint.

In combination with a gold 401k or gold IRA, which allows the storing of precious metals, platinum coins can offer financial stability and long-term growth in a fluctuating market.

Be Sociable, Share!

    Get every new post delivered to your Inbox

    Join other followers: