![]() Today close to 90% of the fresh world’s platinum supply is dug up from just four major mine sites. Capital flows for platinum investments have increased substantially since the start of the 21st Century. Mining experts also estimate that just over 10,000 tons of platinum have ever been mined by mankind.Īs recently as 2016, bullion industry reports show just over 2,000 metric tons of platinum remaining above ground. Officially discovered in the 18th Century, modern mining experts estimate that throughout history over 15 times more gold and about 150 times more silver has been mined than platinum. Platinum is so rare in supply that all the platinum ever mined in human history could fit inside the average United States citizen’s garage. Thus above ground supplies of gold bullion dwarf today’s refined and available physical platinum supply. For gold it would be more than 450 years and for silver over 25 years respectively.Īlthough gold is slightly rarer in the Earth than platinum, human beings have been mining gold for many thousands of years while platinum was only scientifically discovered a few centuries ago. To give you a better perspective, if we convert platinum’s parts per million rarity into time, we would find 1 minute of platinum in just over 380 years’ time. In comparison silver is found in 0.075 ppm while gold is found at 0.004 ppm in the ground. Platinum is indeed rare with an estimated Earth’s crust concentration of 0.005 parts per million (ppm). Physical platinum bullion coins and bars will remain a trustworthy platinum investment for the long term. All platinum bullion products we carry are made of a minimum. Kitco offers both private mint guaranteed platinum bars and government mint guaranteed platinum coins for sale. The sharp drop in record high platinum prices and the introduction of new methods to gain platinum price exposure, investor demand for platinum related funds saw a double digit increase in US dollar volumes within the first decade of the 21st Century. With the 2008 drop in platinum price there was a near simultaneous launching of platinum exchange-traded funds (often referred in short as platinum ETFs) and platinum exchange-traded notes (called a platinum ETN in short). That very same morning of this all-time platinum price high, the US dollar price of platinum was more than double the AM gold fix ($981.75 oz), close to four times the AM palladium fix price ($588.00 oz), and over one hundred times the day’s silver fix price ($20.32 oz). That day, the platinum record price high reached $2,276.00 oz USD in the AM London Fix. The all-time high price of platinum happened on March 4, 2008. Since then platinum coins have become an attractive “value buy” amongst platinum bullion buyers and investors. ![]() Platinum had a major price drop at the onset of the 2008 financial crisis. Platinum is a rare precious metal and its price per ounce has been higher than gold for many years at a time.
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