To buy platinum bullion can be a good investment. The Platinum price is quite high. Over twice that of gold. Platinum is one of those rare metals and there is relatively little of it around. In fact all the platinum in the world would likely fit into your bedroom and all the platinum mined each year is less than one fifteenth of all the gold mined in a year.

90 percent of all the platinum ever mined originates out of South Africa and the former Soviet Republics.

It would not take very much for the demand of platinum to outstrip its supply therefore. The Platinum price can move quite a bit and currently stands at around 1130 US dollars per ounce.

Platinum can be bought in bullion form either as coins or as biscuits or wafers. These can be bought from dealers, your local coin dealer or from online dealers or by auction.

The various mints, including the US Mint now produce platinum coins in order to cash in on this lucrative market. You pay a premium for the coins as they have to be stamped to a specific high quality, proof or brilliant uncirculated, and then packaged up ion nice presentation boxes. All this cost money of course and the buy always pays for it.

Buying the small bars or biscuits, as they are called, is slightly cheaper as although they are stamped out in a similar manner to coins, there is less need for the fine quality and the packaging.

These small bullion bars, which can range from a few grams up to about 10 ounces or so, are different to ingots which are much bigger and are cast in moulds rather than stamped out.

When buying platinum bullion always ensure the dealer is bona fide and includes a certificate with the purchase. Check, especially if the dealer is online if there is a returns policy and a physical address you can contact them on.

If buying online at an auction, such as eBay, it is better to pick a power seller with 99% or greater positive feedback. Any other auction establish the seller is bona fide before you buy platinum bullion from them.

To buy platinum bullion can be a lot of fun provided you do some due diligence and apply some common sense to get the right platinum price.

This entry was posted on Thursday, September 28th, 2006 at 9:56 am.