The first platinum coins were issued in Russia in 1828, being 3 rouble pieces, followed by 5 roubles in 1829, 12 roubles in 1830. All these platinum issues continued until 1845, although the many of the 3 rouble dates are known to have been restruck later, presumably officially.
We have seen an 1866 Spanish platinum 10 escudos offered in an auction catalogue, although we can find no mention of this coin in Krause. We do not know whether this was a normal issue or a pattern. It appears to be listed in Schumberger, but we cannot find our old copy of this book. I guess we will have to find a second-hand copy.
It was not until the 1970's that any more platinum coins were issued, to the best of our knowledge.
The first was a medallic issue from Israel in 1973, followed by Panama in 1976 Russia (USSR) resumed the issue of platinum coins from 1977 to 1980, with a number of 150 rouble coins containing about a half ounce of platinum.
The independent state of Russia has issued platinum coins from 1992, in denominations of 25 roubles containing a tenth ounce of platinum, 50 and 150 roubles containing a half ounce. Lesotho issued a platinum 250 Maloti coin containing a half ounce of platinum in 1981.
From 1983, an increasing number of countries have issued platinum bullion coins of various weights, see below.
Between the 1860's and about 1881, platinum was used, in Spain, to counterfeit gold coins including sovereigns. These were apparently made to order for a North American, the coins being mainly destined for use in South America.
Although platinum is denser than gold, by alloying it with an appropriate amount of copper, it can be brought to the correct density. It was then gold plated, and apparently made very effective counterfeits.
The practice is believed to have stopped only because the price of platinum rose to an uneconomic level. It is likely that the fakes would be worth more now than the originals. Platinum fake sovereigns have been recorded of shield sovereigns dated between 1861 and 1872.
In 2004, the United Kingdom issued its first ever platinum coin, a piedfort proof crown. This has been followed been similar issues in 2005 and 2006.
In the UK, platinum bullion bars are subject to VAT, which remove much of their investment potential. Because of this, we do not offer new platinum bullion bars for sale. we do sometimes have 'second-hand' platinum bars , which we can offer on a tax inclusive basis, at premiums between 10% to 20% over the intrinsic metal value. We also offer VAT-free platinum bars for storage overseas.
Platinum coins are subject to VAT in the UK, which remove much of their investment potential. We do stock new British platinum bullion coins for willing investors, however, sometimes we have limited stocks of various 'second-hand' platinum coins, which we can offer on a tax inclusive basis, at premiums between 10% to 20% over the intrinsic metal value. We also offer VAT-free platinum coins for storage overseas.
Platinum Medals & Medallions
We sometimes have stocks of platinum medals & medallions, most of which are quite rare, being issued only in small numbers.