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Current Price of Platinum Per Gram
One troy ounce of platinum is 31.10348 grams. So the approximate price of platinum per gram can be calculated as follows.
(price of platinum per gram) = (price of platinum per troy ounce) / 31.10348
Eg: If platinum is $1300 USD per ounce
(price of platinum per gram) = $1300 USD / 31.10348
(price of platinum per gram) = $41.796 USD
Use the chart on the top right to perform the calculation yourself.
Change in the Platinum value
A few hundred years ago, platinum was neither an industrial metal nor considered a strategic one. The current price of platinum per gram is quite high as it is used in many industries, such as the automobile industry and the jewelry industry, not to mention the chemical, glass manufacturing and the electrical industries. It is rarer than gold with extremely tight supply and demand ratios. It is estimated that if they were to suddenly stop platinum mining today, then the supply available in the world would last only about a year.
There is incredible potential in platinum as an investment due to its relative scarcity when compared with its ever-increasing industrial demand. You can buy platinum bullion from certified mining companies, but make sure that they are hallmarked and certify the purity and correct weight. Many countries like the US, Canada, Australia and China mint platinum coins which can be purchased for investment purposes, after verifying the current price of platinum per gram. The coins are usually 99.5% pure, and there are many kinds of coins available for purchase.
Platinum Coins and Bars
The platinum Panda coins, for instance are worth a lot as they were minted in very low numbers by the Chinese government. They have a beautiful design work on them and come in weights of one oz with a different panda on it each year. These coins can become scarcer as the current price of platinum per gram increases and the value comes closer to the value placed by the collectors. One of the great qualities of collecting such coins is that the metal is much harder than gold and silver and do not get damaged easily, making it a good investment.
There are many other platinum coins for sale such as the Isle of Man Noble struck in the year 1983 by the Pobjoy Mint. Each of these coins is .9995 pure and contains 1 troy ounce of platinum. You can invest in the popular one ounce coins or the half, quarter, one tenth or even the one twentieth oz coins.
Apart from these coins, you can also purchase the one ounce bullion bars. These are available as JM bars and Engelhard bars. The coins are sold at a premium, that is at a price a little higher than the current price of platinum per gram and when you sell it, they usually offer something less than the current price on that day. You can access a large number of bullion dealers on the internet who deal in government issued coins and bullion.
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