The spot price of platinum (also known as the spot price or market price) is the current price at which platinum can be bought and sold on the market. It is usually calculated in troy ounces, but can also be expressed in grams or kilograms.
The troy ounce is the official unit of measurement in the platinum market. One troy ounce represents 31.1 grams of platinum. Unless otherwise stated, the price of platinum is always quoted in troy ounces.
On our price page, you can check the platinum price today, or for any other date. You can also change the weight displayed on our platinum price chart.
The price of a platinum bar or coin is made up of the spot price and the premium.
All of our products are indexed on the official platinum price, so they move along with it.
The premium is the part of the price that covers our margin, production and operational costs. The premium is the only fee we will charge when you buy and sell precious metals on GOLD AVENUE.
Platinum is a metal that is mainly used in industry (especially in catalytic converters for cars). This highly industrial use of the precious metal makes its price dependent on many factors. If industrial demand increases, its supply will be reduced and its price will rise accordingly.
The price of platinum also fluctuates according to demand, supply and investor behaviour. Its value tends to rise with demand.
This makes platinum much more volatile than gold, which is known to have a very stable price. Its price is therefore less stable and is suitable for more experienced investors.
The price fluctuates throughout the day. It is therefore important to follow the news and market developments, as they also directly influence the spot price of each precious metal.
You can learn more about platinum by reading our articles.
Platinum coins are an investment category in their own right. They are sometimes even legal tender and are produced and recognised by the governments that issue them. Coins usually display certain key information such as the year of issue, the purity of the platinum and the weight.
The price of a platinum bullion (platinum bar) or coin is determined by its quality, production cost, weight, and sometimes by the year of issue, or even by its rarity. The price of a platinum bar or coin is made up of three main elements: the price of the metal, the premium and VAT.
Platinum is not exempt from VAT. France applies a VAT of 20% and Switzerland applies the lowest VAT in Europe with a rate of only 7.7%.
The price of the metal is directly based on the spot price which is the most recent market price of platinum. Depending on its weight and quality, the metal price for a platinum ingot will be higher or lower.
Finally, the premium is our margin, which is the part of the price of your platinum bar that goes to GOLD AVENUE to pay for its production and other costs related to the sale of the bullion.
The premium can vary for each product depending on its level of finish for example. This is why minted bars tend to have slightly higher premiums than cast bars, as they also take into account the quality of the finish of the product.
GOLD AVENUE has a large collection of platinum coins, bars and ingots to get you started saving or investing in precious metals.
You can choose from the most popular platinum coins on the market: the classic American Eagle coin from the U.S. Mint or the beautiful Maple Leaf, the Canadian Maple Leaf from the Canadian Mint. You can also find platinum ingots and bar.
We are also the official online dealer for MKS PAMP and their famous Lady Fortuna line of bullion.
At GOLD AVENUE, we offer a collection of platinum bars and platinum coins, each with a unique design.
If you want to buy platinum coins, there are many advantages.
One of the main advantages of buying platinum coins is the fact that you can buy a large quantity and then resell them gradually as the price of platinum rises, whereas with bullion, you will be forced to resell it all at once.
Platinum coins have a legal value, they are emitted by national mints around the worlds and they can be used as currency. There are many mints in the world, such as the British Royal Mint, the Paris Mint, the Swissmint, the U.S. Mint, etc. Platinum coins also vary in size, weight, value, and style. Coins can also be limited editions or collector coins, making each purchase unique.
Like platinum coins, platinum bars are considered to be a good investment in precious metals. Platinum bars are generally larger than coins and unlike coins, platinum bars often have a lower premium.
Because of their classic formats, platinum bars do not offer as much variety in shape as coins.
You can invest in platinum to diversify your investments, prepare for your future or to provide your family with a generous investment or savings opportunity.
One way to diversify your precious metals portfolio is to own a mix of bullion and coins.