Platinum Bullion For Sale
Platinum Bullion For Sale
Platinum remains one of the rarest metals in the world. Accordingly, platinum bullion products such as platinum bars and platinum coins are generally quite scarce. These investment products are produced by a small handful of world mints, such as the Royal Canadian Mint and United States Mint, and some prominent private refineries like PAMP Suisse.
Bullion dealers often carry a limited supply of platinum bullion in their inventory. They are simply far less popular than comparable coins and bars made of gold or silver. However, this scarcity of availability is one of the reasons that investors choose to diversify their portfolio with platinum as a long-term investment.
Buying Platinum Bullion
The two most prominent platinum coins are the American Platinum Eagle from the U.S. Mint and Canada's Platinum Maple Leaf coin. Each of these coins is struck from .9995 fine platinum. This means that they are composed of 99.95% pure platinum. Both coins come in sizes of 1 troy ounce (1 oz).
Platinum Eagles and Platinum Maples are each legal tender issued by their respective governments. They are both eligible for inclusion in your individual retirement account (IRA), known as a self-directed IRA. Follow the link to learn more about including platinum, gold, and silver in your IRA.
Precious metals investors tend to prefer buying platinum bullion that comes from major mints. This is understandable considering it is difficult to distinguish between platinum and silver from their visual appearance alone. For this reason, generic platinum bars and rounds are less popular than their name brand counterparts.
Prices for most well-known platinum products will generally be less than 10% above the spot price for the metal. This premium is due to the relative scarcity of platinum coins and bars available in dealer inventories.
Historical Background About Platinum
The first notable deposits of platinum were found mixed with gold deposit during the Spanish conquest of Colombia in the 1500's. They named this rare metal with the high melting point "platina," or "little silver." It wasn't until the early 1800's that a method for smelting and purifying platinum was finally found. The famous metals corporation Johnson-Matthey began when Percival Johnson took in George Matthey as an apprentice in 1838. Together they perfected platinum and palladium refining in 1851.
Today, platinum is vital to the auto industry in many capacities, from catalytic converters to processes for raising the octane of raw gasoline. It is also used in medical instruments and surgical devices and has gained popularity in the jewelry industry as a metal of choice. In the 1980's, platinum was introduced as an investment option.