Platinum is one of the rarest and most valuable precious metals; therefore, it’s a favorite choice for collectors.
Its striking silver hue and solid structure lend it a gravitas that few other metals possess, making it an obvious option for anybody seeking both quality and luxury. When you combine this with its incredible corrosion resistance, it’s clear that it’s the ideal metal for coin collecting.
In this guide, we’ll break down everything you need to know about platinum, from where to buy platinum to the details of what platinum is.
American Precious Metals Exchange is a market leader not just in the gold bullion market but also in the platinum market. The company was founded in 2000 and offers platinum coins from U.S., Canadian, Australian, Austrian, and U.K. mints.
AMPEX provides free and insured shipping on orders over $199. Otherwise, there is a $9.95 shipping fee for orders under $199. Additionally, they have a seven-day return and refund policy. However, AMPEX does charge a 10% or $50 restocking fee.
Platinum investors can store their coins at home or one of AMPEX’s partnered depositories. The company will ship your order directly to Citadel Global Depository and store it for an annual fee.
AMPEX accepts payments via credit card, debit card, bank wire transfer, check, eCheck, PayPal, and bitcoin. The company operates Monday through Friday, from 7 a.m. to 5 p.m.
Lear Capital is a California-based, full-service precious metals dealer. The company was founded in 1997 and is accredited by the Better Business Bureau. It is also a member of the Business Consumer Alliance.
Lear Capital offers platinum coins and bars from U.S. and Canadian mints. The company also lists the live price for each item on its website. Additionally, the company provides secured, discrete, and insured shipping on all orders. The company stores its clients’ precious metals at the Delaware Depository. The depository is fully insured by Lloyds of London and has been in business since 1999.
If platinum investors choose to store their coins or bars with the Delaware Depository, there is an annual $260 storage fee for the first year. However, this annual fee is lowered to $180 afterward.
Consumers can buy platinum products online or directly contact a Lear Capital representative via phone.
Goldline is a Los Angeles-based precious metals dealer established in 1992. However, the company’s origins date back to the 1930s. The company only offers platinum coins from Australian, U.S., and U.K. mints. Their coins come in various sizes, ranging from one-twentieth ounce to one ounce. Their products include:
- War of 1812 bullion coin
- American Eagle coin
- American eagle proof
- Australian Koala coin
- Canadian Maple Leaf coin
- Noble coin
Goldline has partnered depositories, which offer investors storage options. The company also offers a buyback program. Goldline operates Monday to Friday, from 7 a.m. to 5 p.m. PT.
Oxford Gold Group
Oxford Gold Group is a Los Angeles-based precious metals dealer offering platinum coins and bars. The company was established in 2017 and has several positive ratings from the Better Business Bureau, Business Consumer Alliance, and Trustpilot.
A range of platinum products are available from U.S., Australian, Canadian, and Austrian mints. Their platinum coins and bars include:
- Canadian Maple Leaf coin
- One-ounce platinum bar
- Austrian Philharmonic coin
- American Eagle proof
- Australian Bottlenose Dolphin coin
Oxford Gold Group works with the Delaware Depository and Brink’s Global Services. Both depositories are insured by Lloyds of London. Additional annual storage fees accompany these depository services. For accounts valuing less than $100,000, Oxford Gold Group charges an annual fee of $175. Conversely, accounts more than $100,000 have a $225 fee. However, these annual fees include storage costs.
Oxford Gold Group is open Monday through Friday, from 7 a.m. to 6 p.m. PT.
Money Metals Exchange
Money Metals Exchange has a variety of platinum coins and bars from worldwide mints, including the U.K., Australia, Canada, the U.S., and Austria. Additionally, the company clearly states the price of each product on its website.
Money Metals Exchange was established in 2010 and accredited by the Better Business Bureau since 2011.
Orders over $500 come with free insured shipping. Conversely, orders between $150 and $499 have a $9.97 shipping fee, whereas orders up to $149 have a $6.97 shipping cost. However, the company offers returns within three days of delivery. Additionally, investors can opt to store their platinum assets with Money Metals Exchange at the company’s on-site depository. Lastly, the company offers a buyback program.
Money Metals Exchange is open Monday to Friday, from 7 a.m. to 5:30 p.m., and Saturday, from 7 a.m. to 3:30 p.m. MT.
Platinum was found in objects from 700 BC Egypt. However, platinum was not popularized until the 1800s, when it was rediscovered.
Upon platinum’s initial popularity, the precious metal was used in jewelry. In the 19th century, it was adapted and used during the world wars. More recently, platinum has been used to produce dental and neurosurgical tools, cancer treatments, computer equipment, and automotive products.
Investments in platinum coins and bars began to take hold in the 1970s, and the price of platinum jumped due to its scarcity. Unlike other precious metals, the production of platinum is extremely limited. As a result, platinum investing attracts more and more collectors who are eager to obtain a piece of such a limited asset.
The American Platinum Eagle is the United States’ official platinum bullion coin. The United States Mint first released the coins in 1997. Platinum Eagles are available in one-tenth to one troy ounce sizes and are .9995 pure platinum. These U.S. platinum coins are some of the most popular for collectors.
The Royal Canadian Mint’s platinum bullion coin is the Maple Leaf. The coins were originally minted in 1988 and continued to be produced until 1999. The coin was struck two more times, in 2002 and 2009. Queen Elizabeth II is shown on the obverse of the Platinum Maple Leaf. The purity of the platinum in each coin is .9995.
Platinum coins from the Perth Mint are a wonderful option with cheap premiums and high-quality items. The Australian Perth Mint produces platinum coins, such as the one-ounce Platinum Platypus and the one-ounce Platinum Koala, both of which were recently released.
For more than 1,000 years, the Royal Mint has been producing British coins. Each coin contains one troy ounce of 999.5 fine platinum. The Royal Mint offers its most popular platinum coin, the Britannia. Additionally, the mint recently released The Queen’s Beasts coin to commemorate Queen Elizabeth’s legacy.
PAMP Suisse, based in the Swiss city of Castel San Pietro, is regarded as one of the leading producers of precious metal products. PAMP Suisse’s trademark and the distinctive Lady Fortuna brand have been globally recognized for their quality assurance and ethical principles since 1977. PAMP Suisse platinum bars have a purity of 99.95% and have been traded on international investment markets for over two decades. Each bar has its own serial number and is sealed in a protective holder with an official Assay Certificate that certifies the weight, purity, and platinum content.
Credit Suisse Group AG, which was founded in 1856, began transitioning to retail banking in response to competition from neighboring Swiss banks and to keep up with the rise of the middle class. Credit Suisse’s bullion products are among the world’s most reliable, popular, portable, and easy-to-store. They’re also straightforward to change into cash because precious metals dealers and retailers all around the world recognize them. Credit Suisse is well-known for its gold, silver, platinum, and palladium bars.
Even though investors prefer Credit Suisse platinum bars, Valcambi Suisse platinum bars meet their partner’s master quality. Valcambi platinum bars are available in one troy ounce and combi bar sizes, with a purity of .9995 pure platinum. Additionally, the Valcambi Suisse one-ounce platinum bar is IRA eligible and always struck to the highest standards.
The famed Engelhard name was established in 1902 in Newark, New Jersey, and immediately transformed itself as a recognized precious metals supplier. Engelhard’s hallmark and assay certificate are recognized globally as “Good Delivery.” Each bar contains 10 troy ounces of .9995 pure platinum.
Coins can be easier to store than bars. Personal collectors and investors may store their coin collections in a bank safety deposit box, for instance. Most platinum bullion coins are composed of 0.9995 pure platinum and have face values of $10, $25, $50, and $100. Coins vary in size but are comparable to standard currency.
Platinum bars are available in gram and troy ounce sizes, ranging from one gram to one troy ounce. Also, most platinum bars come with assay certificates, which confirm the bar’s purity, weight, and mint of production. A one-ounce platinum bar may be around 22 mm by 38 mm by 2 mm. A 1,000-gram bar would be 53 mm by 117 mm by 8 mm.
The benefits of having platinum bullion are numerous. For example, many analysts predict that platinum prices will continue to rise steadily in the upcoming years for various reasons. Of course, supply is one of those factors. Platinum is used in a wide range of industries, from jewelry to vehicle catalytic converters, and its availability is thought to be limited.
With rising demand, inflation, and limited supply prices are expected to increase.
One of the most common uses for platinum is in the manufacture of autocatalysts. Platinum is also utilized in the jewelry industry. The metal is tough, tarnish-resistant, and can be heated and cooled repeatedly without hardening or oxidizing. Platinum is widely alloyed with other platinum-group metals, such as palladium, as well as copper and cobalt, to make it easier to deal with when making jewelry.
The industrial applications of platinum could fill a book on their own. Platinum catalysts, for example, are used to make fertilizer ingredients, and the metal is utilized in silicones, hard disks, electronics, dental restoration, glass-making equipment, and home safety device sensors.
Another application for platinum is in the manufacture of extraordinarily high-density hard drives. Platinum can also be used to detect changes in the amount of oxygen, nitrogen oxides, and carbon monoxide in automobiles and buildings since it reacts with them. Platinum is also employed in medical sensors to detect oxygen, particularly in medical machines that measure blood gases.
Platinum is also utilized in catheters, stents, and neuromodulation devices, as well as electronic medical equipment like those described above. Because of its durability, conductivity, and biocompatibility, it is perfect for these applications. The metal is also safe for implantation because it is inactive within the body.
Platinum Pros and Cons
Platinum is a relatively scarce asset. It’s rarer than gold, silver, bronze, and other precious metals. As a result, increased demand and limited supply raise its price.
- High Value
Platinum coins value high, even at low concentrations.
Because of the asset’s volatility, it’s utilized as an economic hedge in the same way as gold is.
- Limited Supply
Unfortunately, no matter what, the platinum supply is limited. Once the supply diminishes, it is hard to determine whether the value will remain high.
- Used in Many Industries
Manufacturers (automotive, jewelry, and medical industries) are striving to locate an alternate source for platinum. Platinum's price could drop if this happens.
Platinum Coins and Bars FAQ
Why Should an Investor Choose Platinum Over Another Precious Metal?
Platinum may not be the right choice for every investor. In fact, it’s vital to look at prices and evaluate your risk tolerance before making a purchase. The gold-to-platinum ratio is a useful tool for observing the price relationship between the two metals. When the ratio is greater than one, platinum is less expensive than gold. This ratio can be used by an investor to identify opportunities to profit from investing in one metal over another.
Why Buy Platinum Bars, Coins, and Bullion?
Platinum is an alternative to consider when purchasing precious metals. Due to its scarcity and importance in both the financial and automotive industries, platinum is considered one of the most precious metals. The price has fluctuated dramatically in recent years due to growing demand.
Is Platinum Rarer Than Gold?
Gold is significantly more common in the earth’s crust than platinum, making platinum rarer. Only 160 tons of platinum are mined each year, compared to 1,500 tons of gold.
What Type of Platinum Bullion is For Sale?
There are many types of platinum bullion for sale, including American Eagle coins, Perth Mint Koala coins, and Canadian Maple Leaf coins.
Platinum coins and bars gained popularity as an investment asset in the 1970s. Shortly after, the price of the precious metal skyrocketed due to its scarcity and wide applications in the medical and automotive industries. Platinum investing continues to be an option for individuals looking to diversify their portfolios.
The price of platinum is expected to continue to rise as the demand increases, and the supply is slowly diminishing. If you’re ready to invest in platinum, consider starting your portfolio with one of the companies we mentioned above.