Platinum coins 101: An illustrious overview
Platinum coins are fascinating. There are no questions about it. Platinum bullion coins garner a certain shine that outdoes many of its counterparts. The precious metal may not be the toughest or most cost-efficient, but it’s among some of the most valuable.
In fact, that value is part of the reason platinum coins aren’t used in circulation as much as they are used as collectors’ items, such as bullion coins from platinum bullion bars.
Here are a few key basics to help get you started on your numismatic journey:
What is a platinum bullion coin?
Like their gold and silver counterparts, platinum bullion coins are made from precious metals, which are smelted to create a mostly pure version of that metal – in this case platinum. This can be used for coins, jewelry or just stick around as “pure platinum” blocks or bullion bars after being fused with another metal, often rhenium or even gold.
Like bullion gold coins, a bullion platinum coin is typically sold as a commemorative feature on a timed basis, such as annually or another set time period.
Are platinum coins rare?
Gold is considered rare. Platinum is considered to be rarer still. In fact, among precious metals, platinum is considered one of the rarest. Because of it’s continued intrinsic value, platinum prices are typically higher than other precious metals.
As for rarity of the coins themselves, they can be purchased through reputable dealers at a set premium.
If you’re hoping to start your platinum collection, try searching for items such as the Royal Canadian mint Canadian platinum maple leaf or the United States mint American platinum eagle. Both coins are typically available for sale or trade with varied mint dates.
They are also widely known and are likely to be traded or sold easier than others in the same precious metal class.
A close runner-up to the platinum eagle or maple leaf is the Perth mint Australian platinum kangaroo. This coin features a hopping through their habitat on the reverse and Queen Elizabeth II on the obverse. Unlike its commemorative counterparts, this platinum coin can be used as legal tender in Australia.
What is the best way to buy platinum coins & other platinum pieces?
Buying platinum coins, jewelry or bullion bars is enticing, especially to a new collector or investor.
The best rule to follow is to always find a reputable dealer with extensive knowledge on the price of platinum, platinum bars and purity, bullion collectors’ items and jewelry. And if you want the platinum sheen without the platinum price, many credible dealers may have a silver version of the very same item for a lower cost.
Coin collecting and investing is a fascinating way to spend your extra time. And as far as interesting and decadent metals go, platinum takes the cake. Remember, starting with smaller pieces such as coins is a feasible and lightweight way to get involved. Once you’re comfortable with your budding platinum collection, branch out into other forms.
Who knows, you may find yourself collecting and investing in more than just coins and platinum bars.