Why is Platinum Pricing Backwards?

[GoldStatue]

I've been looking at buying platinum for a while now.

Every time I look on the Royal Mint website the pricing looks different for platinum compared to other precious metals.

The bars are more expensive than the coins, so at the moment:-

1 oz Platinum Bar Minted - £847.83
Britannia 2020 1 oz Platinum Bullion Coin - £828.29
The Royal Arms 2020 1oz Platinum Bullion Coin - £818.96

I was led to believe that bars are easier to produce compared to coins so they should be cheaper to purchase.

Also the coins are legal tender so another small reason for the coins to have a higher premium.

Is the weird pricing due to supply/demand or is there another reason?

[Clockpuncher]

Platinum pricing is always weird and higher premium than gold or silver. VAT on top too!

[Stuntman]

I agree it's weird.  But nothing surprises me any more about the Royal Mint and its pricing.

If you think the coins are a good deal, buy the coins!
(I bought a Platinum Royal Arms from them a month or so ago)

[ShropshireTom]

On 10/09/2020 at 20:44, GoldStatue said:

I've been looking at buying platinum for a while now.

Every time I look on the Royal Mint website the pricing looks different for platinum compared to other precious metals.

The bars are more expensive than the coins, so at the moment:-

1 oz Platinum Bar Minted - £847.83
Britannia 2020 1 oz Platinum Bullion Coin - £828.29
The Royal Arms 2020 1oz Platinum Bullion Coin - £818.96

I was led to believe that bars are easier to produce compared to coins so they should be cheaper to purchase.

Also the coins are legal tender so another small reason for the coins to have a higher premium.

Is the weird pricing due to supply/demand or is there another reason?

I’m new here but I’ve been buying and selling precious metals for a three decades based, mainly, on what I think I can make a buck on.

platinum is, as pointed out, is mercurial in its pricing. White gold seemed to knock it for six for a while at the turn of the millennium but it did perk back up (in the jewellery segment). Right now, it’s my most sought after metal as I think it will do well in the next 10 years. I also noticed the RM pricing - curious to say the least! I’m going to buy some in the near future, against my grain not to speculate....

 

[DarkChameleon]

1 hour ago, ShropshireTom said:

I’m new here but I’ve been buying and selling precious metals for a three decades based, mainly, on what I think I can make a buck on.

platinum is, as pointed out, is mercurial in its pricing. White gold seemed to knock it for six for a while at the turn of the millennium but it did perk back up (in the jewellery segment). Right now, it’s my most sought after metal as I think it will do well in the next 10 years. I also noticed the RM pricing - curious to say the least! I’m going to buy some in the near future, against my grain not to speculate....

 

it is up frm its llw but its past was ridiulousperhaps as it used tobeso much more then gold it still has that draw

[Silverman2U]

On 10/09/2020 at 22:51, Clockpuncher said:

Platinum pricing is always weird and higher premium than gold or silver. VAT on top too!

if you buy in the UK that is...

[DarkChameleon]

2 minutes ago, Silverman2U said:

if you buy in the UK that is...

its the same stateside.

[Silverman2U]

I was speaking to goldsmiths the other day... they have seen a massive rise in the price of their rings in platinum, which is more than gold. I thought this fascinating given platinum is cheaper than gold. Then again it has an incredibly high melting point and I have been advised its a pig to cast/shape due to high temperatures required.

Yer, the royal mint, a law unto themselves. Took me 3 months to get coin from them... maybe 4. ;/ 

[Tattoedamat]

...platinum the most volatile PM drug and a gateway to a dark world of metals ending with "ium"

[Stuntman]

12 hours ago, Tattoedamat said:

...platinum the most volatile PM drug and a gateway to a dark world of metals ending with "ium"

Unobtainium 🙂

[Roy]

Why is Platinum Pricing Backwards?

I don't know, but Palladium took a right kicking early this morning 😂