A long, long time ago, silver was the main ingredient used from emperors, kings, and rulers. It was used as the main material to make coins and was also used in different forms for paying for other goods. It was basically, the first currency in the world.
After that, gold took over. The precious metal that looks glamorous but is very rare became the more important material of the two. Even though silver was never abandoned, the gold was the one that was considered the king’s metal.
In the 1700s platinum came on to the scene as another rare but precious metal. It was officially discovered by Antonio de Ulloa in 1748 even though records show that even ancient Egyptians used it. However, the official discovery is stated in this year.
Since then, platinum was used for minting coins. The problem arise when a lot of people were convicted of a crime because they did this for the purpose of lying. They minted coins and were convincing people it was silver because they both look very similar.
That’s why the American government banned its production until almost a hundred years later. Still, being legal didn’t mean that it was really used. Until 1977 when the Soviets decided to mint a series made especially for the use of the summer Olympics in 1980.
Since then, other governments also began producing it. A lot of the standard gold and silver bullions also got a platinum version. These platinum coins are looking very glamorous even though they resemble like silver a lot. The difference is in the price mainly and they have a little more interesting shine. Now a days people buy silver with bitcoin.
What’s more important is the use of platinum in industry. Around 45% of the entire world production is being used in the car industry. This metal is an excellent catalyst which is the reason why it was used since the early 19th century.
Today, the price of it is set to around $870 per ounce. Being fairly not affordable its usage is not for every little thing and parts including platinum are pretty expensive. Over 34% of the world’s production goes for the needs of art and jewelry. Among this is the use of coins and bars.
Platinum as an investment
People who like to invest in precious metals and numismatists are loving bullions and bars more and more. Since the price is exactly in the middle between the one of the gold and the silver, it’s a great choice for those who can’t afford gold but also don’t like investing so small like doing it with silver.
Being a new material in the business made people scared and cautious at the beginning, but now, they love it. That’s why the price significantly went up with the beginning of the new millennium. As all charts show, its price will only go higher.
This is the main reason why investors love it more and more. Not only bullion, but platinum bars are being sold by the hundreds. Very soon we might see how it changes reaches the price of the gold and exceed it.
Platinum group of elements
The platinum family consists of six elements similar by their physical and chemical look but they are still different and have different prices. The most expensive between them is Rhodium whose price is around $2150 per ounce. If you want to learn more about rhodium, click this link.
Rhodium coins are also being produced globally. A lot of governments make rhodium coins that are being used for investors. Even governments of countries that are not so known on the map. For example, an exceptionally beautiful rhodium coin is made by the government of Tuvalu that has the face of Queen Elizabeth the Second and on the reverse is a beautiful dragon.
All being said is enough to convince everyone that platinum and its family metals are going to take over the world of investors of metal and the numismatics. It’s up to you whether you’re going to buy now and see how its price goes up or you’re going to wait more and get in the game when it’s too late.