Today's Spot Prices Gold: $1,305.00$14.90

 

Silver: $16.67$0.30

 

Platinum

  • Why Is Platinum So Expensive?

    The History & Origin of Platinum: Ancient to Modern Times

    Platinum, though officially classified as a precious metal in the late 18th century, has been found in Egyptian  jewelry dating from 700 B.C. Its name comes from the Spanish word platina – little silver – the metal with which the platinum was initially confused. While panning for gold in New Granada, Spanish Conquistadors found the white nuggets to be a nuisance and considered them to be unripe gold.

    Two centuries passed before a Swedish researcher discovered a way to produce commercial quantities. Prior to that, the metal had been used primarily to decorate porcelain and make laboratory instruments. Until the early 19th century, Colombia held the only known deposits of the precious metal. Just as those deposits began to dwindle, the metal was discovered in Russia, which became the primary source of it for the next 100 years. Currently, more than 70 percent of the world's platinum is mined in South Africa.

     

    Properties of Platinum

    The white silver metal known as platinum is the heaviest of the precious metals, weighing almost twice as much as karat gold. It is dense, ductile and impervious to corrosion. platinum expensive -rare-metal-world-map-imageIt is the least reactive metal and it has a very high melting point.

    These characteristics, along with its chemical stability, make platinum extremely useful in industrial applications. It's color, which mixes well with gold, and its resistance to tarnish and wear, make it an excellent choice in the crafting of fine jewelry. Nearly 50 percent of what is mined annually  is used in the manufacture of vehicle emissions control devices. More than 30 percent  of what is mined is used in jewelry.

     

    Is it More Rare Than Gold?

    Compared to the nearly 1,782 tons of gold mined, only about 133 tons of platinum are mined annually.It is estimated that there are more than 5 billion ounces of gold above ground. There are  only an estimated 200 million ounces of platinum.

    platinum expensive -gold-versus-platinum-metal-eagle And unlike gold, there are no large stockpiles of platinum. It has been said that there is only around one millionth of one percent in the earth’s crust. It is probable that all of the platinum in the world would fit into a square of less than 25 feet on each side or in an average American living room.

    Platinum is also more difficult to mine than is gold. Typically, the  platinum mining process takes five to seven months and may require as much as 10 tons of ore to yield one ounce of platinum. It costs about $1,800 to produce one ounce of platinum. At its most expensive, the production costs for an ounce of gold is about $957 – nearly half of what platinum costs.

    Affordable Platinum Options

    Platinum American Eagles are an excellent and affordable way to diversify the types of metal in your portfolio. The prices of gold, silver and platinum bullion are independent of each other so diversifying the precious metals in your portfolio allows the positive performance of some to balance the negative performance of others.

    platinum-eagle-reverseEagles also provide a mobile form of investment - easy to store, trade, carry, and buy & sell.

    The coins have historically provided a hedge against inflation and trade close to the spot value of the coin. The weight and purity of American Eagle Bullion coins are backed by the U.S. government and as such can be traded nearly everywhere in the world. They offer one of the most liquid forms of investment available. American Platinum Eagles are available in 1 oz., 5 oz., .25 oz. And .1 oz. denominations. They were authorized by Congress in 1996 then first minted in 1997. They were the first and are the only official platinum coin from the U.S. Mint. Check out this ultra cameo Platinum Eagle coin to boost your platinum investment collection.

     

  • Platinum & Palladium: Historical Prices Into 2015

    Precious Metals Background

    Platinum and Palladium are two of the six metals that comprise the Platinum Group Metals. The other four metals are ruthenium, rhodiumosmium and iridium. All six have similar physical and chemical properties. 

    Platinum, though officially discovered in the 18th century, has been found in Egyptian ceremonial jewelry crafted before the 16th century.

    For many applications, the metal is actually preferred over gold due to its density and durability. It is also far more rare than gold with only approximately 200 million ounces of the metal currently above ground in comparison to the more than an estimated 5 billion ounces of mined gold. And though there was a reported surplus of Platinum during the last two decades of the 20th century, it is now considered scarce.

    palladium & platinum - industrial-metals

    Palladium is 15 times more rare than platinum. The metal was discovered in South American crude platinum ore in 1803 by Englishman William Hyde Wollaston. Nearly 70 percent of palladium mine annually is used in the automotive industry in catalytic converters. Palladium is also used in a number of electronic applications as well as in a new form of composite metallic glass. Forty percent of it is mined from one source in Russia.

    Platinum Historical Prices

    Platinum has historically traded at a higher price than gold. Platinum spot prices began a steady rise in the early part of this century, peaking in early 2008 at a high of $2,100 per troy ounce. Thoughthat peak took a sharp downward swing during the recession that followed, prices began to increase again in late 2008. The forecast for platinum into the coming new year places the metal at about $1,500 an ounce.platinum-eagle-reverse

    Palladium Historical Prices

    Physical demand for palladium drove prices sky high in the early part of this century. Given the auto industry's demand for it, palladium commanded $1,100 per ounce. The forecast for palladium into the new year sets it at nearly $800 an ounce.

     

    Best Value for Platinum and Palladium

    When buying platinum bullion, the government-sponsored American Platinum Eagle and the Canadian Platinum Maple Leaf are wise investment choices. The coins are legal tender and their content and purity are certified if bought directly from a mint.

    palladium-maple-platinum-eagle-coins

    When seeking platinum bars, look for those that feature certifications for weight and purity. Most 10-ounce bars are 99.95 percent pure.

    One of the more popular choices in palladium bullion is the Canadian Maple Leafs issued by the Royal Canadian Mint. These are are one-ounce coins valued at 50 Canadian dollars. And their weight, purity, and face value of each coin is guaranteed by the Canadian government. A more valuable version is the palladium Maple Leaf 1 oz Common Date coin, valued at under $1000.

    When buying palladium bars, as with platinum bars, it is crucial that buyers seek those with the refiner's mark to ensure weight and purity. These bars are transportable and easy to store and trade.

  • What Is The Most Precious Metal?

    When discussing the most precious metals in the world, all discussions obviously include gold and silver. These two metals have been considered the official standard of wealth and value throughout the vast majority of human history, and were used for monetary systems across many nations throughout history.

    There are two other precious metals that were never used in the traditional sense, like gold and silver were, but are nonetheless considered to be precious, and worthwhile of an investment. These two metals are platinum and palladium.

    Platinum: The Most Precious?

    Platinum is the most precious of the aforementioned metals, and at nearly 15 times more scarce than gold, with no known stockpiles, makes it very sought after. Because one in every five consumer products either contains platinum or was produced using the precious metal, it remains in high demand.

    Platinum is known for its malleability, resistance to corrosion, strong density, and is often used in the jewelry, dentistry, aeronautics and weapons industries.

    Gold: Historical Value

    Gold only recently passed platinum in terms of price per ounce, but because it is such a necessity to so many industries, it is predicted to surpass it in the future.

    Gold, the next most precious metal on our list, is known as the king of precious metals and is one of the oldest metals to be recognized as currency. First coined by the Romans in 50 B.C., it was used as currency in China more than 3,000 years ago.

    Gold's conductivity, reflectiveness, malleability and durability make it a desirable commodity for use in crafting jewelry as well as in industrial applications.

    Physical gold is private, portable, secure and immutably valuable. Historically, it has retained its value, maintaining through the collapse of governments and even cultures. No paper asset offers the same security.

    Precious Metal Coins

    Palladium: Multi-Faceted

    Palladium is the third most precious metal.  This silvery-white metal was discovered in 1803 and is named after the asteroid Pallas. Palladium is sought after for its rarity, malleability, stability in heat and ability to absorb large quantities of hydrogen at room temperature. The lustrous metal is used by automobile and electronic manufacturers, pharmaceutical companies and jewelers. It is also used to purify hydrogen and treat groundwater.

    Silver: Consistency

    Silver is the fourth most precious metal in our list. Historically, silver has been the most affordable precious metal and, like gold, has been considered a form of currency since its discovery. The lustrous, white metal is a by-product of processing and smelting copper, gold and lead-zinc ores and was discovered after gold and copper in 4,000 BC.

    Silver is the most electrically and thermally conductive and reflective metal on earth with the lowest contact resistance of all metals. It is also the most used metal with no known substitutes. It is used in a multitude of applications ranging from jewelry to mold prevention, and represents an extremely valuable way to diversify one's precious metal investing.

    Other Precious Metals

    These four precious metals, platinum, palladium, and silver collectively fill out the list of most valuable precious metals that are commonly invested in. There are other precious metals in the world, some of which are more valuable than the ones on this list, yet are less commonly invested in. Examples of these are rhodium, ruthenium, iridum, and osmium.

  • Should I Buy Platinum?

    So far in 2014, we’ve seen many good reasons to start thinking about platinum as a real investment. Mining strikes, along with increased production, are starting to put pressure on the price. At $1514 per ounce, it is near the 52 week high of $1543.

    Worldwide Usage

    Platinum has historically been regarded as the most precious of all precious metals, and rightly so, as it is nearly 15 times more scarce than gold, and with no known stockpiles. And because one in every five consumer products either contains platinum or was produced using the precious metal, it remains in high demand. Currently, roughly 45% of platinum is used for vehicle emissions control devices, and another 30% for jewelry. The remaining 25% of platinum is used for a combination of investing, laboratory equipment, dentistry equipment, electrodes, spark plugs, electrodes, and turbine engines. Because of its scarcity, only a few hundred tons are produced each year, with nearly 80% of that production coming from South Africa.

    History of Platinum

    The metal was initially discovered in the early part of the 16th century by Conquistadors, and derives from the word ‘platina’, which literally means: little silver. However, it only became more recognized and known in around 1741, when British metallurgist Charles Wood discovered it in Jamaica, and sent it back home for further research. Only recently, however, has platinum become an investment option. Platinum's scarcity, coupled with the industrial demand for it combine to make it a solid asset with great potential. Platinum generally tracks the price of gold but, given its necessity to so many industries, it is predicted to surpass it gold’s value in the future. Additionally, the price of platinum is more volatile than gold, and is subject to higher drops and higher jumps.

    Government Platinum

    American Eagle Platinum Bullion Coins offer an excellent vehicle for including this precious metal in your portfolio. First authorized by U.S. Congress in 1996 and then minted in 1997, they are the only official investment-grade platinum coins from the United States Mint. Platinum Eagles are beautifully designed bearing a portrait of the Statue of Liberty on the obverse and a soaring bald eagle framed against a setting sun on the reverse. These Platinum Eagles are the only platinum bullion coins whose weight, content, and .995 purity are officially guaranteed by the U.S. Government. They are sold in one ounce only.

    True Value of Platinum

    Their face value is mostly symbolic because platinum's market price has historically been higher. The metal is currently outperforming both gold and silver. Platinum Eagles are legal tender and can be sold for cash and coins at precious metal dealers the world over. Buying the platinum bullion is as simple as visiting your nearest coin or precious metals dealer or even a brokerage house or participating bank. They are available in four denominations and sell at a variety of prices, and they sell at the prevailing market price along with a small premium to cover their coinage and distribution costs.

    Platinum has historically been a lucrative investment, and with a guarantee from the U.S. Government, Platinum Eagle coins certainly represent a great opportunity to get in on the platinum rush.

Learn more in our BASICS OF BUYING area, or START SHOPPING »