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Platinum may not be the first thing that comes to your mind when you think about investing in precious metals. While it isn't as well known as gold and silver, this metal is highly valuable because of its scarcity and wide-ranging industrial applications. If you want to invest in platinum with minimal cost and hassle, you should consider buying platinum bars. Learn more about platinum bars to see if they're a suitable option for you.
A platinum bar is a bullion bar that contains 99.95% fine investment-grade platinum. It usually comes in sizes ranging from 1 ounce to 10 ounces, but it's also possible to find a 50-ounce or 100-ounce platinum bar. It's produced in a refinery and bears a mark or stamp that shows its purity, weight and the identity of its producer. When you buy a platinum bar, the price you pay is mostly dependent on the spot price, or current market price, of platinum.
Platinum is a silver-white precious metal from the platinum group of metals, which also includes palladium and rhodium. Due to its many useful properties, this metal has applications in a wide array of industries, including jewelry, electronics and automotive manufacturing. Platinum is mostly produced in South Africa, Russia and Zimbabwe .
While they aren't as sought after as gold and silver bars, platinum bars have become an increasingly appealing option among precious metal investors. The following is a list of good reasons to buy platinum bars:
When you're looking for a platinum bar for sale, look for certain characteristics that can help you determine its authenticity. First, you should check the hallmark of the refinery, which is stamped on the top surface of the bar. The hallmark may vary from one refinery to another, but it typically includes the logo or name of the refinery, the weight, metal description, fineness and the serial number.
Additionally, a high-quality platinum bar comes with an assay certificate that contains all of the information that verifies its authenticity. The certificate also makes it easier for you to sell the bar in the future.
Platinum bullion dealers and investors use certain industry-specific terms when they're communicating with one another. Learn these common terms to ensure that you're informed and able to make wise investment decisions. Below are some of the commonly used terms related to platinum bars:
Platinum is often synonymous with the term high value, which automatically translates to great quality and reliability. This precious metal is a solid investment for many reasons, including:
So, are you wondering where to buy platinum bars? There are numerous dealers offering a wide array of platinum bullion bars, but make sure you buy from a reputable source. You can find out the reputation and credibility of dealers by visiting their websites and reading reviews.
1. NS Energy. 'Profiling the top five platinum producing countries in the world,' https://www.nsenergybusiness.com/features/top-platinum-group-metal-producers. Accessed October 1, 2020.
2. CISION PR Newswire. 'The global automotive motors market size is projected to grow from USD 20,321 million in 2020 to USD 25,719 million by 2025, at a CAGR of 4.8%,' https://www.prnewswire.com/news-releases/the-global-automotive-motors-market-size-is-projected-to-grow-from-usd-20-321-million-in-2020-to-usd-25-719-million-by-2025--at-a-cagr-of-4-8-301113089.html.. Accessed October 1, 2020.
3. Commodity. 'How The Platinum Trade Works - The Beginner Trader's Guide For 2020,' https://commodity.com/precious-metals/platinum. Accessed October 1, 2020.