Platinum Coins

In November of 1983, platinum investing entered a new era when, for the first time, a nation began to issue platinum legal tender coins that derived its value almost entirely from the platinum it contained: The Isle of Man, a British Crown Possession, issued a one ounce Noble. Legal tender bullion coins are viewed by many as the most secure way to own platinum. Most importantly, they are not subject to assay because their weight and purity are backed by the issuing nation. They are also portable, liquid and often quite beautiful.

The Isle of Man's highly successful Noble enticed other mints to issue their own platinum coins. During the second half of 1988, Australia (the Koala) and Canada (the Maple Leaf) introduced platinum legal tender bullion coins within three months of each other. Despite the proximity of the launches, both introductions were enormously successful, bringing the level of investment demand to new highs.

For nearly ten years, Australia's Koala and Canada's Maple Leaf were among the leading platinum coins in annual sales. In addition to these programs, the 1990s witnessed the release of dozens of limited edition platinum proof coins to satisfy numismatic demand. These products derive their value from both the price of the platinum they contain and from collector demand for the individual issues. China, for example, issued a coin in a number of different weights called the Panda. While the Panda is popular with collectors, its beautiful design has also made it the centre of many jewellery pieces. Another recent introduction was Russia's Ballerina proof coin. In fact, during the past decade, Russia (and the former USSR) released at least 18 different platinum legal tender coin designs. The Isle of Man has also been active in the platinum numismatic market. Besides its bullion coin, The Isle of Man has minted roughly three dozen unique platinum coin designs since 1979.