Bring your platinum coins to Nevada Coin Mart today for a free verbal appraisal and evaluation! Nevada Coin Mart uses an X-Ray Spectrometer that tells the exact amount of platinum in your coin before it is weighed and paid according to platinum’s spot value.
Platinum Coins We Buy
- Platinum American Eagle
- Canadian Platinum Maple Leaf
- Australian Platinum Koala
- Isle of Man Noble
- Chinese Platinum Panda
- Other several series by the Russian Federation
Background of Platinum Coins
Platinum, unlike the more flexible silver and gold, is more challenging to work with. Because of its availability, many people used it to produce coins or create various fakes in the 1970s.
Platinum coins are a type of cash. It has a universal money image under ISO 4217 of XPT. Platinum was first utilized in coin making during the 18th century in Spanish-colonized America and became the main ingredient in coins by the Russian Empire during the 19th century.
History of Platinum in Coinage
The first encounter with platinum was almost not as remarkable as the discovery of gold and silver. Spaniards were not able to utilize it because of the difficulty in handling the metal. It only became known when forgers discovered that platinum alloys with gold, so they produced different sorts of fakes using it. Thus, the government confiscated the platinum counterfeits and threw them to the sea as per royal decree in 1735.
Later on, Spain embraced mixing platinum with gold to lower the gold content of the coins. Spain also started to deliver British sovereigns a gold-plated mixture of platinum and copper. In the 1820s, the British Royal Mint started with a few trial coins utilizing platinum. Some test coins also bore the picture of George III (1738-1820).
The last recorded event when platinum coins were utilized as a standard currency was in Russia. The platinum coins circled between 1828 and 1845. Dealers admired platinum coins as it did not liquefy in hot temperatures like gold or silver and that it is hard but more affordable. The stamping of platinum coins continued for another 130 years. The issuance of platinum coins in Russia has proceeded until today.
Following this, many countries began the printing of platinum coins.