History of Platinum as a Precious Metal Investment
The following article is created and or curated by the Orion Metal Exchange for the benefit of our followers. We seek to provide relevant precious metals, economic and geopolitical content that can impact your retirement and savings. If you are interested in learning about precious metals investing, call 1-800-559-0088, for a FREE investor kit.
In the 18th and 19th century, platinum was used as currency in the form of coins by Spanish and Russian empire, respectively. After a few years of use, the Russian empire realized its impracticality in both manufacturing and general use.
During the industrial revolution, platinum became an important component for every industry including oil production and auto-manufacturing.
In the 1960s, Japan saw a rise in the demand for platinum jewelry, making it a symbol of power and prestige. By the late ‘60s, platinum had become one of the most important metals in industrial production and by the early ‘70s, it was introduced as an investment metal.
Platinum as Investment Metal
Platinum gained popularity when the economic and oil crisis caused a direct surge in precious metals prices. This created the demand for the production of platinum bars in Japan and Europe.
In the 1980s, platinum had reached the Canadian and Australian investment markets whereas the US introduced a Platinum American Eagle coin in 1997, guaranteeing its .9995 purity.
Since then, the precious metal has seen some very good and some very average days. It hasn’t been a popular investment in the strictest sense but platinum’s value outside of investment and jewelry has definitely made it a sought after metal.
Platinum Exchange Traded Funds (ETFs) have also become a popular type of investment apart from its ownership. Despite its ups and downs, platinum is currently showing a lot of potential as an investment opportunity.
Its usefulness and extensive applications combined with the possibility of an increase in demand make it a perfect time for investors to own the platinum bars or even invest in platinum ETFs.
Even though the use of platinum in auto production and manufacturing has taken a substantial hit in the last two years – because of an increase in demand for electric cars – the global watch says that platinum prices will increase by 5% due to its higher demand in the glass and electronic sectors.
Investing in Platinum with Orion Metal Exchange
As a company that understands your precious metals needs and the right investment strategies, we’re here to offer you help every step of the way. From procurement, exchange, security and resale, we pride ourselves in offering top-class services, coupled with a free investor’s guide.
We also provide storage vaults and gold individual retirement account (IRA) to hold your precious metals. Give us a call today and make the dream of perfect investment easy for yourself!
