Sell Platinum Coin to the Best Platinum Buyer in Las Vegas & Henderson

Platinum coins are used as a commodity or form of currency with an international currency symbol of ISO 4217 of XPT. The early production of these coins proved to be impractical as a source of currency. This is because despite the fact that platinum resembles a variety of less costly metals, and unlike silver and gold, which are more malleable and ductile, it is challenging to operate.

However, since 1978, several commemorative coin sets have been published, which have proven to be popular among coin collectors. The American Platinum Eagle, the Canadian Platinum Maple Leaf, the Australian Platinum Koala, the Isle of Man Noble, the Chinese Platinum Panda, the Austrian Vienna Philharmonic, and several series by the Soviet Union and later by the Russian Federation are among the most common platinum bullion coins.

Brief History

Platinum was first used to mint coins in Spanish-colonized America. The Spaniards were unable to use platinum for a long time after it was discovered in gold rocks because they lacked the ability to process it. The then-cheap platinum was used in a variety of deceptions, including the substitution of platinum for more costly silver. Following the discovery that platinum alloys with gold, counterfeiters started to incorporate the metal into gold coins. According to a royal decree issued in 1735, the platinum seized from counterfeiters was poured into the sea.

Authorities in Spain later introduced the practice of applying platinum to gold as a ligature to reduce the gold content of coins. Counterfeiters in Spain took this opportunity and started making British sovereigns out of a gold-plated alloy of platinum and copper in the mid-nineteenth century based on a similar basic weight of platinum and gold.

In the late 1820s, several trial coins were developed by the British Royal Mint as part of studies on the use of platinum in coins. Due to the high hardness of platinum, each of these coins has the same diameter as a farthing and a weak relief. The obverse of this coin was based on the 1812 Pattern 9 Pence Bank Token, while the reverse was based on the 1825 farthing. Since no new dies were made for these tests, obsolete dies from the corresponding coins were used instead.

Between 1828 and 1845, platinum coins were used as a standard national currency in Russia, which was the first and only country to do so. Even though platinum resembles a variety of less costly metals and is difficult to work, they were still prized by traders because they did not melt in fires like gold or silver.

After 130 years, the minting of platinum coins was resumed. The Soviet Union created five commemorative coin sets between 1977 and 1980 in preparation for the 1980 Summer Olympics, and commemorative platinum coins have been issued every year since 1988. In modern Russia, the tradition of issuing platinum coins on a regular basis has persisted, with the Central Bank of Russia giving 16 sets of platinum coins since 1992.

Other countries have been minting platinum coins daily since 1983. The Platinum Cat and Platinum Noble by the Isle of Man, the Canadian Platinum Maple Leaf, the Chinese Platinum Panda, and the Australian Platinum Koala are the most notable examples this production.

Value of Platinum Coins

There are some considerations when treating your platinum coin for valuation. These can include condition, grade, shape or size, and weight. But the value of a platinum coin is mostly determined through its purity. Its melt value is the most crucial factor to remember. On this note, it would be favorable and helpful to have your platinum coin tested first concerning its purity. This way, you would be able to decide on the value of your item if you were familiar with the spot price of platinum regularly. 

Understanding the current spot price of platinum will put you at a great advantage to avoid being deceived by many swindlers flocking the bullion market today. This spot price is changing every day. That means that if you have decided already to sell the platinum coins that you have been keeping for a long time in exchange for instant cash, you should always make sure that it gets the latest spot price of platinum during the valuation process. To learn more about this, click on this link: https://www.kitco.com/charts/liveplatinum.html

Best Buyer of Platinum Coins

Nevada Coin Mart is the best buyer of platinum coins in Las Vegas and Henderson. As an accredited establishment, we ensure through our staff, experts, facilities, and equipment that we consistently provide the best customer service in all aspects of buying transactions that we engage in with the public. That is why if you intend to sell your platinum coins, our store is a go-to place perfect for your items. When you bring your precious items to our store, we will right away conduct safe checking measures using a precious metal verifier kit to evaluate metals used to analyze any form of metal available in your item. This is exactly what set us apart from local pawnshops and bullion-buying business. 

Moreover, our store offers a free, in-person, expert review and analysis of your platinum coins, particularly allowing customers to watch how their products are handled during the valuation process. This is one of the many best practices that exemplifies our integrity and outstanding customer service. That is why it is with great pride that we have already been named the Best of Las Vegas Gold for three years in a row. 

References:

https://en.wikipedia.org/wiki/Platinum_coin

https://www.jmbullion.com/platinum/platinum-coins/