Login

Eriknation's Blog

28 May 2022

Platinum

| Eriknation

Hi, this is Eric and I hope everyone is doing well. Today I will be talking about platinum, the precious metal. Haven’t been posting much lately. I’m not sure why. Yesterday I was looking through my old blog and I was like Eric why haven’t you been blogging? So here it is.

Platinum is a valuable metal which can be found in many places (mainly from Africa). Also don’t mix up platinum with white gold. I did some research to make sure and turns out white gold is gold mixed with other metals like palladium. So white gold is NOT platinum. Platinum is also used for things such as coins, jewelry, computers and other very useful items.

Let’s see which coins have platinum in them. In the red book there is a section for platinum coins so I will be listing cool items from that section. Some Of the Platinum coins are the$10, $25, $50, $100 American Platinum Eagles. The $10 denomination contains 1/10 oz platinum, the $25 ¼ oz, the $50 ½ oz, and the $100 containing a whole ounce of platinum! From 1998-2016 the designs were changing every single year, which was kind of cool, but starting in 2018 all of the eagles had a same obverse. The coins are minted as a proof or non proof coin. The prices of them vary. A 1/10 oz one would be worth around $125-$410, ¼ oz $300-$750, ½ oz $600-$900, and the 1 oz coin being around $1200- $2200.(Based off red book not the most accurate) The price range depends on their grade, mintage, and depends on the platinum spot too. I also found that the 2008W platinum coin has been the most valued out of all the dates.

Time for a platinum price coverage. Today Platinum prices are low sitting at around $950 an ounce. 1yr ago the price was at around $1100. 10 years ago it was much more expensive being $1500! In 2008 priced were more expensive than gold! Around $2000. Sadly the resale value is not very high but is heavily undervalued and could go up in price. But, still platinum is still in high demand for rings, computers etc. Platinum is undervalued mainly because not many shops in the world will buy back the platinum.

Thank you for reading hope you learned something. Goodbye from Eric.

P.S. I got a bad cut today and I have to take this horrendous medicine.


Bibliography: https://www.bullionvault.com/platinum-price-chart.do

https://economictimes.indiatimes.com/wealth/personal-finance-news/are-platinum-silver-a-better-investment-option-than-gold-post-brexit/articleshow/53017978.cms

Red Book


Comments

user_38198

Level 1

Clarification: After the first few years of the Platinum Proof coins first being struck and sold in 1997, the US Mint began changing the reverses of each American Platinum Eagle Proof. Different design, most by a different designer each year. Subjects were the principles outlined in the Declaration of Independence and the US Constitution. Then they had yearly changes that touched on our system of government, particularly the 3 major parts of the Executive Branch, the Legislative Brand, and the Judical Branch. Great neo-classical designs on these reverses. And for the 3 years of the Platinum burnished Eagles, the reverse matched the proof design of that same year. Sadly, burnished were only struck, in fractionals from only 3 years. Shame, they are some of the lowest mintages for all the Platinum Eagles. In 2021, the US Mint started changing the obverse of the Platinum Proof, focusing on the Bill of Rights (the first 10 Amendments to the US Constitution). In context, the Mint State Platinum Eagle hasn't changed little or not at all since 1997.

AC coin$

Level 6

Welcome to ANA World .

Jackson14

Level 4

Interesting blog. Thanks!

AC coin$

Level 6

Great information . Welcome back you are one of the best of ANA .

Longstrider

Level 6

Welcome back. Yeah, I too would love a platinum coin. I wouldn't turn down a palladium one either. Heal up and take your meds. Later.

Mike

Level 7

Thanks for the information. Glad your back !!

Kepi

Level 6

Great blog! I'd love to buy some Platinum one of these days... Hope your cut heals fast! ; )

Long Beard

Level 5

The platinum coinage the United States mint produces has been on my wish list from the beginning, the higher premium versus gold is holding me back from purchasing the 1 ounce.

It's Mokie

Level 6

Oh Wow, I hope you heal very fast and only need to take the meds for a short time. I think Platinum is used in the catalytic converters that keep vehicle exhaust cleaner. That is why theft of catalytic converters from cars and trucks is on the rise. Another reason to go electric, no need for them. Glad you are back to blogging.

Eriknation

Level 4

Rhodium, Palladium, Platinum metals are all in the catalytic converter. Thieves go crazy for valuable metal.

We use cookies to provide users the best experience on our website. If you continue without changing your cookie settings, we'll assume that you agree to receive all cookies on money.org. You may disable cookies at any time using your internet browser configuration. By continuing to use this website, you agree to our privacy policy and terms of use. To learn more about how we use cookies and to review our privacy policy, click here.