Platinum Coins - An Easy Way to Own Platinum

One important metal aside from gold is platinum. It is one of the most valuable metals in the world. Platinum is known as the world’s valuable metal because it is more expensive that silver or even gold.

Platinum is considered rare for there are around 550 million oz of silver produced each year and 85 million oz. of gold; while only about 7 million ounces of platinum are mined yearly.

Platinum costs more than gold and silver for it is an even rarer metal. Platinum was first mentioned by Europeans by the Spanish Conquistadors. They were the first Europeans to find the precious metal when they mined for gold and silver in the New World. This precious metal was in used around late 1700s in Europe,

In 1828 the first platinum coins where coined in Russia, and the minting of Russian coin was stopped in 1844. Unlike gold and silver, platinum is not used widely, some countries minted this precious metal for collectors and not for daily use.

But, there where times when people used gold and silver as their form of payment but in 1933 almost all counties stopped using them as a form of payment. Platinum coins are minted as commemorative coin for a person who loves to collect coins.

Here are the three main factors you should know to determine the value of collector’s coin.

• Rarity, there are lots of commemorative coins that are produce out there with different quantities. So the rarer your coin is the more expensive it becomes. And the coins that are produced with more quantities will have a lesser value compared to coins that are produce with a limited amount.
  


• Condition, it is also important for you to check the condition of your platinum coin. Checking and knowing that your coin is in good condition will help you know how much the coins value is. For it that coin is one of the rare ones and it is in good condition then it will cost more than what you might think. On the other hand if your coin is not in a good state then there’s a possibility that its value will be less.
  


• Age, is important for this is one of the basis in knowing the value of your coin. They will see how ancient your coin is the older your coin the higher it value will be. So if your coin is rare and in good condition plus it’s an antique for it was minted way, way back then be assure that your coin will have a high value.
  


• Content of platinum. This is actually the most important factor in determining a coins value. Put simply the more platinum a coin contains the more valuable it will be.
  

If you are not sure of your coins value then you could ask some friends or an expert and let your coin be check to see how much its value is.

Source by Gordon H. Smith

Platinum Coins - An Easy Way to Own Platinum