WHAT IS THE SPOT PRICE OF PLATINUM?
Today, individuals can turn to platinum as a way to boost their portfolio and supplement gold and silver (or just purchase platinum solely). While many people want to choose metals they are familiar with, that’s not always the best option for a portfolio. To be even more specific, gold is far more abundant than platinum. More so, it is very valuable because it can be used in a variety of applications. Considering its value and rarity, it creates perhaps the ideal opportunity for many precious metal enthusiasts. Find out here what the spot price of platinum is as of today!
HOW WAS PLATINUM DISCOVERED?
Platinum isn’t a “new” type of precious metal. It was first discovered in South America by the same group of indigenous people that produced white gold and platinum alloy artifacts.
The first written account of the precious metal surfaces in 1557 when, in a letter,
Julius Caesar Scaliger discussed the unique metal found in the mines of Mexico and Panama. What made it unique then was that it could not be melted. It wouldn’t be until 1783 that a workable form of the metal would be discovered. Pierre-François Chabaneau developed and patented a method for crafting a malleable platinum, though these initial products were far from pure. A pure form of the metal was not produced until the early 19th century by William H. Wollaston.
KEY QUALITIES OF PLATINUM
Today, we know much more about this element. It is classified as a transition metal and has a silver to white color. It has an atomic weight of 195.08 and doesn’t melt until it reaches 1,768 degrees Celsius. It’s non-toxic. It’s also considered a very soft metal with a lustrous sheen. Platinum is highly useful. It can be used as a catalyst for a variety of chemical reactions. It’s often used in jewelry and is versatile enough to be used for electrical contacts, medical and lab instruments, and wiring.
HOW AND WHY TO OWN PLATINUM
The American Platinum Eagle is the ideal route to owning platinum. This is the official platinum bullion coin crafted by the U.S. It has a composition of 99.95 percent platinum. It has been minted since 1997. The coin took two years to design and features Lady
Liberty looking forward, into the future. Designed by John Mercanti, it was first released in 1/10, ¼, ½, and 1 troy ounce versions all with .9995 fine platinum. There are both uncirculated and proof versions of these coins available, ideally suited for collectors.
The creation of the Platinum American Eagle made this precious metal easily accessible for the average American. Today, owning this coin is an excellent method for building a precious metal portfolio. This coin is readily available and offers a third option for precious metal individuals looking to reduce some risk. True precious metal enthusiasts understand the rarity and promise that platinum offers and, as such, have dedicated portions of their portfolio specifically to Platinum.
To learn more about owning platinum or the Platinum American Eagle, contact your account executive at Nationwide Coins. These beautiful, rare Platinum American Eagles can help shore up any precious metal portfolio.
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