A Short History of Platinum Bullion Coins

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A Short History of Platinum Bullion Coins
Platinum was already in use by 700 BC; it was commonly used by the Incas the most famous of the Ancient South American civilization. They used gold and platinum to make their ceremonial jewelries such as nose rings.

The Spanish Conquest in the fifteenth and sixteenth century were the first Europeans to discover platinum while looking for gold. The Spanish ignored the little silver metal as a nuisance in their quest of finding gold, they named platinum us platina meaning "little silver".

The explorers ignored the metal since they were hungry for gold, thinking that the newly discovered metal was useless they threw it out into the river. Although the explorer might think that the new discovered metal is useless the European scientists did not think so. For the platinum extraordinary properties fascinated the scientist and they discovered that the metal would not melt by fire.

Platinum is almost as heavy as gold and does not decay with chemicals or gases. The newly discovered metal was later on recognized as an element in 1751 and was used to create durable things such as cubicles for glass productions, durable laboratory instruments, etc. Today platinum is still very widely used by many countries especially in the industrial field.

In 1822 the Russian government made rubbles out of platinum and minted about 500,000 one-ounce platinum coins over the next eighteen years. It may have been their way of telling the world that platinum is not an ordinary metal it has value like gold and silver.

Another highly successful coin comes from the British Crown possession of the Isle of Man. It issued the first Noble platinum coins in November of 1983. Platinum is more expensive than silver or gold for it has a limited supply, they can only supply 7 million ounce of platinum a year compared far more gold and silver.

There are two types of platinum coins one is the platinum bullion collector's coins and ones is like the platinum bullion coins. You can invest in both coins if you want, the platinum bullion coin's prices vary so you should search the net and see how much platinum coins cost.

While the platinum bullion collector coins price depend on its condition, age and rarity. Also if you want to purchase any precious metal you have to be responsible and prepare a place for them to keep so that thieves won't get them.

There are many people out there who are investing in platinum because they can see that platinum is also a good investment aside from gold and silver. But it is more expensive than the two precious metals. If you want to invest your money then invest them wisely don't invest your money if you don't have any knowledge of the kind of investment you are going to try. Before investing study and gather vital information that could help you in your investment, for in the end you and your family will benefit from it.