Platinum is a noble precious metal that has intrinsic value beyond its investment potential.
Platinum is used as a catalyst for chemical reactions. The most common use of platinum today is in motor vehicles. Nearly every motor vehicle manufactured today has a catalytic converter which facilitates the combustion of unburned hydrocarbons in the exhaust. This leads to less pollutants being released into the air.
Platinum is also used in jewelry, dental work, electrical contacts and medical/laboratory instruments.
Platinum is extremely rare, particularly in comparison to gold and silver.
Annual worldwide production is estimated to be around 8 million ounces, roughly one-tenth of the world's annual gold production.
Demand for platinum continues to rise, both as a component for manufacturing and for investment purposes.
Investing in platinum is an excellent way to diversify your precious metals portfolio. The most affordable way to do this is to buy platinum bars.
Platinum bars are available ranging in sizes from as small as 1 gram to as large as 1 kilogram. The minimally accepted purity of refined platinum bars for investment is a purity or fineness level of .9995.
The most popular size is the 1 oz Platinum Bar. Platinum bars containing 1 troy ounce are often solid in sealed manufacturer assay cards that contain the mint, the purity and other pertinent information about the bar.
Platinum bars are a cost effective way of investing in platinum because their production cost is less than those related to platinum coins.