Platinum Bullion Coins

Platinum bullion and coin investors do not have a large selection of platinum coins from which to choose. Yet, the platinum bullion coins available come from the most prestigious mints in the world. Platinum Eagles are produced by the U.S. Mint, Platinum Maple Leafs by Canada's Royal Canadian Mint, and Platinum Koalas by Australia's Perth Mint.

In the late 1990s, when platinum traded at about the price of gold, a strong interest in platinum developed; and in 1997, the U.S. Mint added Platinum Eagles to complement its Gold Eagles and Silver Eagles. Platinum Eagles were well received, and in 1998, the first full year of production, 133,000 of the 1-oz Platinum Eagles were minted.

However, as the price of platinum pushed higher, interest in Platinum Eagles waned. In 2003, only 8,007 of the 1-oz Platinum Eagles were minted, compared to more than 400,000 of the 1-oz Gold Eagles.

Because of platinum's high price, platinum bullion coin investors have lost interest. This further means that when platinum bullion investors sell, they generally receive less than spot because most platinum coins sold at high platinum prices are sent to refineries, where they are melted.

On the flip side, it means that investors who do buy platinum at higher prices pay smaller markups than would be the case if investors were still actively buying platinum coins. Platinum bullion coin investors who want current year dates on their platinum coins can expect to pay huge premiums over back-dated platinum bullion coin prices.

Platinum, the metal

Platinum, like gold, silver, and palladium, is a member of the Noble Metals Family, a group of metals that have similar characteristics and traits. Platinum and the other noble metals have outstanding resistance to oxidation, one reason they are used to make jewelry.

Further, platinum, gold, silver, and palladium are excellent conductors of heat and electricity (Silver is the best), and they are so malleable that they can be made in solid sheets thin enough for light to pass through. Further, noble metals are so ductile that they can be drawn into wires thinner that a hair. Because of these characteristics, noble metals are essential in the manufacture of many of the goods we today take for granted.

Platinum as money

Despite platinum being a sister metal to gold and silver, platinum does not have a history of being used as money, as have gold and silver. Platinum was not discovered until 1557, and not in abundance until 1750, when the Spaniards plundered Peru. CMIGS cautions investors about investing in platinum when prices are high relative to gold.

If you would like to know more about how to buy platinum, get live platinum prices or learn more about platinum bullion coins, call us at 800-528-1380.