Read more in our FAQ's! Email Address. Forgot Your Password? Billing address. Cart 0. Top Products. Maple Leaf Coins. American Eagle Coins. American Buffalo Coins. Half Sovereign. Vienna Philharmonic Coins.
Queen's Beasts Series. Italian Lire. Gold Kangaroo Coins. Chinese Panda Coins. Small Gold Bars. New Products. The use of dollars eliminates the transaction costs of converting unlike currencies, as just about every country in the world holds dollars in their Forex reserves. Per tradition, precious metal spot prices are always measured by the troy ounce, an archaic system of weights.
One troy ounce is equal to Yes, the platinum spot price applies wherever you are in the world. Because the spot price is subject to influences from all corners of the global economy, it makes sense that this benchmark price would be applicable in real time anywhere and everywhere you go. This is true whether you buy platinum online or in person. The spot price of platinum is the price at which mining companies are able to sell newly mined platinum.
This means that all costs borne by mints and dealers i. If dealers were to sell platinum and other precious metals at their respective spot price, they would be unable to earn a profit, and thus be forced out of business. No, markups and other added costs are not included in the platinum spot price. The spot price also does not include any costs related to the processing and fabrication of the platinum into its bullion form. Pricing for platinum products can vary depending on what form the platinum comes in, and whether or not the item has any collectible appeal.
Generic platinum products will be priced close to their melt value the spot price , as they are generally only purchased for their underlying precious metal content. Meanwhile, legal tender platinum coins or special platinum collectibles will have higher premiums due to the added labor and specialization involved in their production, which is why the difference in price arises.
No, premiums over spot vary from item to item, and are based on factors that include, but are not limited to, the following: the cost of fabricating platinum into a bar or coin; the added labor costs for detailed art designs; producer-to-producer or miner-to-refiner shipping expenses; and any collectible or numismatic premiums for scarce collectibles.
The bid price is how much a dealer is willing to pay for a specific item. The ask price is the amount the dealer is selling the item for.
These values are for sight unseen products, and do not account for rare or unique versions of a product. Mining companies can only sell their platinum, and other precious metals, at the market spot price for platinum.
However, because mining companies incur such large overhead costs for research and development, if spot prices fall too low, mining companies may decide to scale back production, which can act as an upward pressure on the spot price of platinum.
Yes, due to the global presence of commodities exchanges all over the world i. This ensures that spot prices for precious metals, like platinum, are constantly fluctuating. Simply having a legal tender status, which makes a round piece of platinum a coin, will typically increase the overall value of the platinum itself. The specific monetary denomination of a platinum coin is usually related to the size of the coin itself, i.
However, the amount of face value assigned to an investment-grade bullion coin typically has little bearing on the total value of a platinum coin, since the intrinsic value is usually much higher. Sign in or register. Buy Gold. Australian Gold Coins. Buy Now. Buy Silver. Silver Bars 10 Oz Silver Bars. Stay logged in. Options Accept. Investment guide Guide to gold How to buy gold Gold investment Gold investment plan Investment insurance Compare asset performance Guide to silver How to buy silver Guide to platinum How to buy platinum.
Charts Gold price Silver price Platinum price Price alerts. Live gold price chart Live silver price chart. Platinum Price Live Chart. Why do the prices quoted on BullionVault change over the weekend, when the chart doesn't? This chart is a live feed of the spot price in the wholesale market. It closes over the weekend and public holidays. BullionVault on the other hand never shuts. It allows you to trade 24 hours a day, every day of the year. Can I get an alert if the market moves significantly?
Set a custom platinum price alert to be emailed whenever the platinum price moves through your chosen value. Can I purchase at these platinum rates? BullionVault gives private investors around the world access to the professional bullion markets.
You can benefit from the lowest costs for buying, selling and storing, starting from 1 gram at a time — just a fraction of one ounce. For more information see our page explaining how to buy platinum online.
Calculate commission and storage fees using our cost calculator. What is the Daily Price? London is the heart of the worlds physical platinum market. Everyday, its biggest bullion banks agree a price to clear their outstanding order, and the London Bullion Market Association publishes that price on its website.
The price is determined on UK working weekdays at 2pm London time for platinum 3pm for gold, mid-day for silver. The prices are made public at midnight.
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