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 Platinum Coins

Platinum Coins

Buy Platinum Coins

Platinum coins that were once shunned and then abandoned are now bought by investors to diversify precious metal holdings in financial portfolios.

Platinum was once illicitly used to defraud before it became legitimately used as circulated specie.  Counterfeiters, shortly after the discovery of what is now a rare precious metal, substituted the then-cheap platinum for the more valuable silver in coins and also used it as an inexpensive alloy to debase gold coins.

Later, nations experimented minting platinum into circulating currency.  However, only Russia introduced platinum coins into circulation but quickly discontinued minting them for the same reasons other nations preemptively disbanded their aspirations – platinum resembled less expensive metals and its low malleability and ductility made it extremely difficult to work.

Nowadays, platinum is minted into uncirculated coins.  But what exactly is a platinum coin? A platinum coin is legal tender issued by a sovereign nation that can be used for all debts public and private but is purposed instead as an investment product with its ascribed face value being worth significantly less than the intrinsic value of its platinum content.

Investors select the brand and the respective series when buying new platinum coins from Goldmart’s listings of products from the world’s most trusted sovereign mints.

Platinum Coin Brand

Investors buy platinum coins that are annually issued legal tender from sovereign mints in popular series featuring the same or similar designs or themes each year.  Private refiners are legally prohibited from minting monetized bullion and alternatively fabricate platinum bars. Not all national mints producing gold coins and silver silver manufacture platinum coins.  Of those that do, it is important to select trusted mints of stable nations that guarantee the metallurgical contents of their recognizable platinum coins. The reputable Perth Mint of Australia annually issues its popular Platinum Kangaroo series after having discontinued its collectable Platinum Koala series and Platinum Platypus series.

Platinum Coin Purity

Platinum can be refined to various purities dependent upon its intended applications, primarily industrial and jewelry.  For financial purposes, however, investment-grade platinum used to mint brilliant uncirculated coins is refined to a standard millesimal fineness of .9995, a purity by weight of 99.95% pure.  Either value denotes an assay measured 999.5 pure platinum parts in each 1000 parts of material.

Platinum Coin Weight

New platinum coins are available for investors to buy only in the standard 1 troy ounce size.  Mints have discontinued production of new BU platinum bullion coins in smaller and larger weights.  Fractional and multiple-ounce sizes of prior backdated issuances ranging in sizes from 1/20 ounce to 1 kilogram can be purchased in secondary markets but have increased premium costs due to their scarcity and numismatic collectability.

Platinum Coin Prices

The price investors pay when buying 1 oz platinum coins is comprised of two values: the spot price of platinum and the premium cost of the product.  

The intraday spot price is the current valuation of platinum internationally traded under the supranational code, XPT, in global markets and exchanges including the London Platinum and Palladium Market (LPPM) and the Commodity Exchange, Inc. (COMEX).  This melt value is correlated to economic stability or instability and the resultant industrial demand.

The premium cost is the amount mints, distributors, and retailers charge in excess of the spot price to cover operational expenditures and earn a profit.  This mark-up cost is either a variable amount calculated as a percentage of the spot price, such as with the 1 oz Austrian Platinum Philharmonic Coin, or as a flat fixed amount, such as with the 1 oz Canadian Platinum Maple Leaf Coin.

Platinum Coin IRA

Investors can make new contributions or transfer or roll over funds from existing 401(k) and individual retirement accounts into self-directed IRAs to buy platinum coins meeting Internal Revenue Service regulations.  The IRS stipulates platinum coins that are eligible to be included in precious metal IRAs must be minted by stable nations and have a minimum millesimal fineness of .9995, a purity by weight of at least 99.95%.