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Buy Platinum Bullion

Platinum bullion has a low occurrence in nature making it a rare metal that with its invaluableness to industry makes it a precious metal commodity.  It, along with other noble metals of the Platinum Group Metals (PGM), but specifically the Palladium Platinum Group Elements (PPGE) comprised of palladium, platinum and rhodium, is resistant to corrosion and oxidation making it highly valuable to industrial applications.

Platinum is posited to be 10 to 30 times more scarce than gold.  However, the platinum-to-gold ratio used to measure the relationship in values of the two precious metals is instead greatly affected by economic factors.  The platinum-to-gold ratio is larger than 1 when economic growth is experienced fueling a high demand within industry for its low supply. The PGR is smaller than 1 during economic recessions as its demand within industry recedes and investors seek safety with gold.  The PGR is currently trending below 1, whereas historically it has been above 1 with the price of platinum peaking to almost 2.4 times the value of gold before the financial crisis of 2008.

Buying platinum bullion allows investors to own this hyper-rare precious metal.  Investors select the style, weight, and brand from Goldmart’s varied offerings of investment-grade platinum bullion products which are tailored for differing investment strategies and personal preferences.

Platinum Bullion Purity

Platinum bullion minted with a millesimal fineness as low as .999 was once acceptable for investment products.  Now, new platinum bullion is only offered with a millesimal fineness of .9995, or 999.5 platinum parts per 1000 parts, a purity that can also be stated as a percentage, 99.95%.

Platinum Bullion Style

Platinum bullion is minted into round coins and rectangular bars (ingots).  

Platinum coins are monetized bullion of sovereign mints with the intrinsic value of the platinum worth more than the monetary denomination of the coin, such as the 1 oz Austrian Platinum Philharmonic Coin containing 1 troy ounce of platinum with a legal tender of 100 Euros.  

Platinum bars are minted in a variety of sizes.  The premium cost per ounce is typically less for platinum bars manufactured by private foundries, such as the 1 oz Valcambi Suisse Platinum Bar, than for platinum coins fabricated by sovereign mints, such as the 1 oz Canadian Platinum Maple Leaf Coin, even though they contain the same mass and purity of platinum.

Platinum Bullion Weight

Platinum bullion is minted and cast in a variety of weights ranging from small 1 gram (g) ingots to large 6 kilogram (kg) London Platinum & Palladium Market (LPPM) Good Delivery Bars.  Some of the more popular sizes are 1 ounce (oz) coins and 1 oz, 50 g or 1.6057 oz, 100 gram or 3.215 oz, 5 oz, 10 troy ounce, and 1 kg or 32.15 oz bars. Heavier platinum bullion, such as the 10 oz PAMP Suisse Platinum Bar, receive economies of scale in the form of a lower premium cost per ounce.  Lighter platinum bullion, such as the 1 oz American Platinum Eagle Coin, allows for greater discretion when liquidating part or all of an investment.

Platinum Bullion Brand

Platinum bars are manufactured by private foundries.  There are few independently operated refiners and fabricators of platinum ingots and even fewer yet that have ISO 9001:2008 certification.  It is important to buy platinum bullion produced only by those privately owned mints with quality management systems independently audited to meet the statutory and regulatory requirements of the International Organization of Standardization.  

Platinum coins are produced by sovereign mints that guarantee the purity and mass of the bullion.  It is important to buy monetized platinum bullion, such as the $50 CAD 1 oz Canadian Platinum Maple Leaf Coin, that is manufactured by a reputable country’s mint, such as The Royal Canadian Mint, and is guaranteed by its government.

Platinum Bullion Prices

The price of physical platinum bullion is the sum of two independent values: the spot price of platinum and the premium cost of the tangible product.  

The spot price of platinum is its going rate on global commodity exchanges (XPT) and is predisposed to economic trends and industrial demand.

The premium is the additional cost charged by manufacturers, wholesale distributors, and retail dealers for the platinum bullion in excess of the spot price.  The premium is established by the style, weight, and brand of the platinum bullion; the costs incurred in producing, storing, and distributing the product; and any profit or gain realized or to be realized by vendors.

Platinum Bullion IRA

Investors who have either rolled over or transferred an existing IRA or 401(k) into or made new contributions to a self-directed IRA can buy platinum bullion to diversify their individual retirement account.  The Internal Revenue Service has established purity and manufacturer requirements governing IRS approved platinum coins and bars. Platinum bullion must have a minimum millesimal fineness of .9995 fine or purity of 99.95%.  Sovereign foundries that mint platinum bullion must be operated by stable nations. Private foundries that mint platinum bullion must be COMEX/NYMEX approved refiners and assayers with ISO 9001:2008 certification.