Platinum Coins Out of sight, Out of Mind
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In the world of precious metals, gold and silver often hog the limelight, capturing the imaginations of collectors and investors alike. Yet, there’s another precious metal that holds its own allure but remains surprisingly overlooked and is literally out of sight out of mind in the world of coin collecting. It is platinum. In this article, we will delve into the realm of platinum coins, explore two notable offerings from the United States Mint, and weigh the pros and cons of collecting platinum coins in comparison to the more popular gold.
The Underappreciated Beauty of Platinum Coins
Platinum, a lustrous, silvery-white metal, is renowned for its rarity and remarkable resilience to corrosion and wear. More commonly used for jewelry than coins. Despite its unique properties and undeniable allure, platinum often plays second fiddle to its flashier counterparts. Let’s explore why this fascinating metal deserves a closer look in the world of coin collecting.
- The Rarity Factor: Platinum is one of the rarest elements on Earth, with an annual production significantly lower than that of gold. In fact, it’s estimated that if you were to gather all the platinum ever mined, it would fit comfortably within the average cargo container. This scarcity lends platinum an inherent value that collectors find enticing.
- Numismatic Intrigue: The limited amount of platinum coins in the market adds an intriguing layer to numismatics, making platinum coins a unique and fascinating category for collectors. The relative scarcity of platinum coins can amplify the excitement of hunting for specific pieces to add to one’s collection.
- Purity and Durability: Platinum coins are renowned for their high level of purity. They are typically composed of 99.95% platinum, which ensures that the metal’s inherent qualities, such as its resistance to scratches, dings, tarnish and corrosion, are preserved over time. This purity also enhances their appeal to collectors who value authenticity and quality.
- Unique Aesthetic Appeal: Platinum possesses a distinct aesthetic charm, characterized by its brilliant white luster. This unique visual quality, combined with beautiful coin design, makes each platinum coin into a work of art that showcases the metal’s understated elegance.
Now lets look at Notable Platinum Coins from the U.S. Mint and the Canadian Royal Mint
The United States Mint, known for producing some of the world’s most sought-after coins, offers collectors the opportunity to explore platinum through the American Platinum Eagle coin series. The Canadian Royal Mint has been known for its Maple Leaf series in gold but few realize they are available in platinum.
American Platinum Eagle: Launched in 1997, the American Platinum Eagle series features great designs representing the core principles of American democracy. These coins are available in various denominations and are treasured by collectors for their artistic intricacy and high purity.
Royal Canadian Mint Platinum Maple Leaf was first introduced by the Royal Canadian Mint in 1988, the Platinum Maple Leaf bullion coin is minted at a purity of 99.95%. It has the same design as the Gold Maple Leaf, the Platinum Maple Leaf like the Gold Maple Leaf shows a face value of $50. The obverse of this coin features the effigy of Queen Elizabeth II.
American Platinum Eagle Proof Coins: A subset of the American Platinum Eagle series, these proof coins are minted with special dies and polished to perfection. Their mirror-like surfaces and detail make them amazing additions to any collection.
Pros and Cons of Collecting Platinum Coins vs. Gold
Now that we’ve explored the allure of platinum coins and introduced a few notable offerings from the U.S. Mint and the Canadian Royal Mint , let’s weigh the pros and cons of collecting platinum coins compared to the more established gold coins.
Pros of Collecting Platinum Coins
- Scarcity and Rarity: Platinum’s rarity gives it inherent value, making platinum coins attractive for collectors who seek unique and limited-edition pieces.
- Purity and Durability: The high purity of platinum ensures long-term preservation of the coin’s appearance and value, making it a reliable investment.
- Unique Aesthetic: Platinum’s brilliant white luster adds a touch of elegance to any collection, and its understated beauty appeals to those who appreciate subtlety.
Cons of Collecting Platinum Coins
- Higher Premiums: Platinum coins often come with higher premiums over their metal content compared to gold, which can make them a more expensive investment.
- Limited Variety: While there are some exquisite platinum coin series, the selection is more limited compared to gold coins, which have a broader range of options.
- Market Liquidity: Platinum coins may have lower market liquidity than gold, meaning they could be harder to sell quickly when needed.
Conclusion
In conclusion, platinum is an often-overlooked out of sight, out of mind, out of this world gem in the world of coin collecting. Its rarity, purity, and unique aesthetic appeal make it a compelling choice for collectors who appreciate the finer nuances of numismatics. However, potential collectors should carefully consider the higher premiums and market liquidity issues associated with platinum coins before diving into this captivating realm. Ultimately, the decision to collect platinum or gold coins comes down to individual preferences and investment goals, but one thing is certain: platinum deserves a place in the spotlight among the world’s most cherished precious metals.
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