The U.S. Mint resumed the production of one-ounce platinum bullion coins last week based on strong customer and investor demand. The first batch of newly pressed one-ounce platinum bullion coins were made available Monday, reported Yahoo! Finance, based on an announcement from the Mint.
"We listened to our customers and are pleased to once again offer platinum bullion," said Richard A. Peterson, United States Mint Deputy Director. "Thanks to the hard work of our team, the West Point facility has begun striking platinum bullion coins for the first time since 2008."
Just like the American Eagle Gold and Silver Bullion Coins, the Mint will only sell American Eagle Platinum Bullion Coins to authorized dealers, who in turn will sell them to consumers. Designated as “Authorized Purchasers,” these buyers consist of major coin and precious metals dealers, brokerage companies, and other participating financial intermediaries.
(November 12, 2012) - Gold has long been a staple in the jewelry industry of India, but recent increases in the price of gold have caused demand for it to drop due to the fact that it's priced in dollars; India's national currency, the rupee, has experienced a 25% drop in its value against the dollar. Since gold is now more expensive than platinum, many are deciding to buy platinum jewelry instead. This is something that will change the level of demand for the white metal within India, one of the world's most populous countries. With platinum price levels being lower than gold, and considering the importance of fine jewelry in India, this is a change that will have a real impact on investors who decide to hold platinum, analysts say. According to a recent report by Joseph Harry at Seeking Alpha, demand for gold jewelry has dropped 30% over the past year and China now leads the way as the nation with the higher demand for the yellow metal.
(October 4, 2012) - Platinum prices are catching the attention of analysts even though gold has been getting the lion's share of the media's attention in recent months. Today's platinum price per ounce has remained stable for quite a while now, and even though gold has shot past it twice in the last decade and a half, experts believe that platinum could be an extremely stable choice in the long run because it is not as impacted by the typical investor fears regarding the global economy. A recent article from Anna Prior in Smart Money pointed out that now may be the time to buy platinum because those in the know state that today's prices rise significantly by the end of the year. Right now, the pricey white metal is getting overlooked in favor of the metal of kings, but this is not always the path that investors should be taking.
When it comes to investing in precious metals, most investors will tell you that having diversity in your portfolio is quite important, and it very well can be. While gold is often the investment metal of choice, platinum is also a strong choice for many. There are a number of reasons for this which we want to explore today. Platinum bullion coins are a good place to start investing in this particular precious metal. However, before buying platinum coins it will help if you know more about this metal and how it can be used. Like gold, a great deal of platinum’s value is not just that it can be a store of wealth, but that it is used for industrial purposes.