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What Is The Current Price Of Platinum?
There are various ways of investing in the platinum metal, but the investor first needs to know what is the current price of platinum, in order to get the best deals. As platinum is being increasingly used as a catalyst in the automobile industry, it is very much in demand and is sparking a buying frenzy in the metal. There is also a very limited supply of platinum of around 7 million ounces a year, which makes it rare and contributes to its value.
Different options for investing
Normally, people tend to invest in gold and silver, as investing in platinum is a little more expensive. You can invest in stocks, mutual funds and ETFs or in physical platinum bullion. Investing in ETFs or mutual funds of platinum is quite simple but they also carry management fees. Alternatively, you can also buy bars and coins that are made by some countries. These are also available in low denominations of 1/20 oz whereas the most common ones are the 1 oz coins. After knowing what is the current price of platinum, you may have to pay a 5% mark up additionally for these coins.
Bars or Coins
You can also choose between bars and coins. For those with a smaller investment in mind, it is better to go in for the coins as they have greater liquidity than bars. You can buy them either online or offline, but the online option is usually cheaper, but one needs to go to a reputable dealer. You also need to store this kind of physical platinum in a safe. Additionally, it is advisable to diversify your portfolio, which means that you should invest not only in coins or bars, but also invest in platinum stocks, bonds and so on.
There are many kinds of platinum coins such as the Australian Koala, American Eagle, Chinese Panda, Russian coins and so on. You can buy or sell these at many popular websites which have auctions, which list what is the current price of platinum and also the price of the different coins giving their denominations, such as the oz as well as the purity of the coin.
The online option
The best and fastest way to buy platinum coins is the online method. There are many websites that provide investors with information on what is the current price of platinum and make the buying or selling process very fast. The US mint has a website where you can check out traders who are credible and trustworthy. You can also make comparisons between different traders and get quotations from several traders, before selecting any one.
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