It wasn’t until the early 19th century when Platinum was regarded as a precious metal by Spanish explorers. Before then Platinum was seen as a nuisance during the mining for gold. Miners who have come across this metal back then believed it to be “unripe” and counterfeit gold. Platinum’s worthlessness was due to the fact that it was difficult to melt and so, for centuries, it was never regarded as a precious metal.
The times have changed, however, and platinum is being used more so today than it was back then. It’s most popular use is in jewelry but it has also been used in automobile converters and formed into coins. Platinum is continued in being researched due to its electrical conductivity, resistance to corrosion, extremely high melting point, and high durability.
The possibilities for the purpose of platinum allow it to be an excellent choice for investors as its demand could likely increase substantially in later years. But what other factors contribute to its value? Why and how do you invest in platinum?
Continue reading below to see why investing in platinum is the ideal investment choice and how you should go about doing it.
It is a Precious Metal
Gold and silver are bought by investors due to the products’ ability to retain their value. Likewise, platinum is also able to keep its value because it has been dubbed as a precious metal. The prices for platinum will always fluctuate but because there’s only a finite amount of it in the world, it will never decrease in value. Also, in today’s world, where a majority of our economic systems and finances are stored in computers, investing and owning platinum would be an ideal backup plan. In any chaotic economic strife, precious metals will always be needed.
Platinum is a very rare metal. In fact, it’s even more rare than gold. It’s been said that if you were to take all the platinum ever mined in history, the amount would be no bigger than a small 2-car garage. It’s guaranteed that the financial value of platinum will rise when resources for it become scarce.
How do You Invest in it?
Of course, for you to make an investment, you must purchase the product of your choice first. But how do you go about purchasing platinum? And how do you know if you’re offered the best price for it? Also, is it expensive? The answer to that last question is yes and no.
Gold is a very expensive commodity and investing in it can be difficult for anyone that doesn’t belong to the wealthy class. If you don’t necessarily have the best finances, then perhaps silver would be your best bet – it’s relatively cheap.
But platinum is slightly different. It’s a based median that offers anyone who is fairly well-off a chance to invest. Its value, as of now, is in close range to be $1,000 per ounce. It’s still an expensive price, but compared to gold, you’re better off starting your investments with the “less” precious of the precious metals.
As anyone will probably tell you, it’s always important that you do your research first. You may first want to average out a price for platinum and look into various facilities that offer it and see how you can negotiate a price. You can either purchase platinum in person or online. But it’s preferred if you do it in person.
Interested? Contact William Youngerman Inc.
If you happen to live in the South Florida area and you are interested in investing through platinum, consider contacting William Youngerman Inc. William Youngerman Inc. has been dealing in precious metal investments for nearly 50 years and they’ve even been contributors to two of the world’s most regarded reference books on world gold: Krause-Mishler and Friedberg. If interested, call us at (561) 368-7707, or visit our contact page.