Platinum is one of the most valuable precious metals around. It's denser than gold, weighing almost twice as much as karat gold. It's also ductile and impervious to corrosion. These qualities make it an excellent choice for jewelry and coins. It can also be found in a variety of interesting uses including the automotive industry as well as computers and even medicine.

When Did Platinum Coins Start and Why?

The history of platinum coins includes many fraudulent uses, as platinum was once less valuable than either gold or silver. Spaniards substituted platinum for silver and tried to pass counterfeited coins as pure silver. Other counterfeiters added platinum to the gold in their gold coins to lower the gold content. The platinum coin became the official currency in the early 18th century by Spain in Spanish-colonized America. The Russian empire continued to use platinum for coins in the 19th century. Commemorative platinum coins began production in 1978 and have been popular among collectors.

In the 1820s, the British Royal Mint produced several platinum coin sets as tests. The platinum farthing has both high value in history as well as numismatic (collector) value. In Russia, between 1828 and 1845, platinum coins were used as a national currency. Platinum is very hard to work with, so this practice did not last long.

The Soviet Union brought back the platinum coin in preparation for the 1980 Summer Olympics. Five commemorative sets were created to honor the event. Platinum commemorative coins have been produced annually since 1988 in Russia. Other countries joined in the production of platinum coins in 1983.

How to Buy Platinum Coins

Once you're ready to start investing in platinum coins, it is important to find reputable dealers such as BullionMax. On our website, you can filter coins by country of origin, platinum content and latest releases. Investors tend to purchase bullion coins for their portfolios. Storage is an important part of coin collecting, and you will need to consider whether you will store them at home in a safe, at your bank in a safety deposit box or use a storage firm.

The Best Platinum Coins to Buy

Platinum coins are produced in several countries, each with their own unique symbols and features. Each coin will have a different value, which will be reflected in its price. A bullion coin is a coin made exclusively from a particular precious metal; in this case, it would be platinum. Since platinum has no real history of having been used as currency, other than for a few years in Russia, it isn't considered a monetary reserve asset. Therefore, because it's a higher risk investment it also offers a higher return to investors. Lower cost bullion coins can be used to jumpstart your platinum holdings.

Here are a few platinum coins to consider for your coin collection or investment needs.

American Platinum Eagle Four-Coin Sets

The American Platinum Eagle Four-Coin Set was produced from 1997-2008. It includes the highest face-value coins produced by U.S. Mint at $100. These coins are 0.9995 pure platinum, available in 1-ounce, half-ounce, quarter-ounce and one-tenth-ounce. The symbols featured are Lady Liberty and an American Eagle and there's a mint state version created of each coin. [1]

American Platinum Eagle 1-Ounce Coins

The American Platinum Eagle 1-ounce coin was first minted in 2009. It boasts a new obverse designs annually and added new reverse designs, beginning in 2018. Made of 0.9995 pure platinum, it has a $100 value. [2]

Canadian Platinum Maple Leaf

The 1-ounce Canadian Platinum Maple Leaf coin was first released in 1988 [3]. It was available in various weights and sizes from 1998-2001, and switched to only the 1-ounce option in 2009. This coin consists of 0.9999 pure platinum and has a face value of $50. Symbols found on this coin include Maple Leaf and Queen Elizabeth II. It is produced by the Royal Canadian Mint, and in 2012 it was named the world's best-selling platinum coin.

Austrian Platinum Philharmonic

The Austrian Platinum Philharmonic is 1-ounce of .9995 pure platinum that was first released in 2016.  It has a 100 Euro face value. Symbols on the coin include the Great Pipe Organ and the Golden Concert Hall in Vienna with musical instruments on the reverse side. [4]

Australian Platinum Platypus

This coin began production in 2011 and is minted at the Perth Mint. Made of .9995 pure platinum, with a $100 face value (AUD) it includes symbols of the Australian platypus and Queen Elizabeth II. It was minted to celebrate the platypus.

British Platinum Coin Options

Produced by the Royal Mint and first released in 2017, British Platinum coins are made of .9995 pure platinum. Options include the Britannia and the Queen's Beast.

Isle of Man Platinum Noble

Isle of Man Platinum Noble coins were minted from 1983-1989. These 1-ounce coin were produced at the Pobjoy Mint. With a face value of one Noble and consisting of .9995 pure platinum, they feature Queen Elizabeth II and a Viking longboat.

Somalian Platinum Elephant

The Somalian Platinum elephant, made of .9995 pure platinum, began production in 2016. The symbols on this 1-ounce coin include the Somali national crest and an elephant. It is minted at the Bavarian State Mint in Munich.

Platinum is considered to be twenty times rarer than gold, thus creating the potential for some great investment returns. Because platinum is desired by the industrial sector, in particular the automobile industry, the demand for automobiles provides a positive outlook for the value of platinum. Although the market has lagged, those who invest now and hold on to their investment for the long haul should be rewarded greatly. Proper research into the platinum market and platinum coins will provide you with the knowledge necessary to make sound investment decisions.

Article Sources

1. United States Mint. 'American Eagle Coin Program,' https://www.usmint.gov/learn/coin-and-medal-programs/american-eagle. Accessed October 28, 2020.

2. United States Mint. '2009 One Ounce Platinum Proof Coin Available December 3,' https://www.usmint.gov/news/press-releases/20091120-2009-oneounce-platinum-proof-coin-available-december-3. Accessed October 28, 2020.

3. Royal Canadian Mint. 'A Rich History,' https://www.mint.ca/store/mint/about-the-mint/a-rich-history-8000008?cat=A+Rich+History&nId=8000008&nodeGroup=About+the+Mint. Accessed October 28, 2020.

4. CoinWeek. 'Bullion Coin Profile - Australia 2016 Vienna Philharmonic 100 Euro Platinum Coin,' https://coinweek.com/bullion-report/austria-2016-vienna-philharmonic-100-euro-platinum-coin/. Accessed October 28, 2020.