View the live platinum spot price per troy ounce, gram, and kilogram. You can also see the 24-hour price trend for platinum. Below is an interactive platinum price chart with historical pricing, as well as additional historic long term platinum price charts below.
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Platinum Spot Price and the Price of Platinum per Ounce
The tools and platinum price charts on this page are designed to allow you to determine the platinum price at a glance. You can find 24-hour price trends, as well as an interactive price chart that will allow you to view platinum prices in the past. You can also learn more about the many different options available for investing in platinum, from coins to bars.
We strive to ensure that you are always able to answer the question of how much is platinum worth, and how much is platinum per ounce today? These are crucial considerations for any investor interested in diversifying their portfolio with precious metals in order to safeguard it against market fluctuations, further fiat currency devaluations, and other wealth-related threats.
From the price of platinum today, live platinum spot prices, to platinum price history, here we help you have critical platinum price information needed to make smart platinum bullion buying and selling choices.
Understanding the Platinum Spot Price
Like the price of gold and the price of silver, the price of platinum is priced in troy ounces. However, this is not the standard ounce to which most of us are accustomed. Platinum is sold by the troy ounce (slightly lighter than the standard ounce). The platinum spot price is simply the price of one troy ounce of platinum at that particular time. With that being said, you will not pay this price of platinum if you are buying the metal.
Many different factors affect platinum prices. These range from supply and demand, to geopolitical concerns, the worldwide economy itself and even the value of major currencies. Platinum is also an industrial metal – it’s used in many different capacities, even in the automotive segment, where it’s valuable in the manufacturing of catalytic converters.
Each factor will push the platinum price up or pull it down, and savvy investors learn to look at historical platinum prices in order to learn how to predict trends. This knowledge informs their buying and selling, allowing them to create a hedge that protects their wealth during economic downturns.
The spot price is only an indicator of the value of one troy ounce of platinum on the “market.” It does not represent the retail price of platinum products. Processing platinum into coins, rounds or bars costs money. Dealers generally pay a premium over the spot price and then add a small premium when reselling to investors. It is this premium that allows dealers to make a profit and stay in business. So, if you’re wondering how much is platinum an ounce when purchasing products, you’ll need to know the platinum spot price, but also the premium applied by the dealer you are purchasing from.
Platinum Bullion or Platinum Coins
You have plenty of choices when it comes to investing when platinum prices are low and it’s an ideal time to buy in. You can choose platinum bullion bars, platinum coins, or paper assets.
Bullion is the generic name given to platinum rounds, bars, and government-issued coins made with .999 fine platinum. Platinum bullion bars and platinum rounds are not considered legal tender and require less processing than platinum coins. So the retail price of platinum bullion bars and platinum rounds is typically closer to the platinum spot price.
Actual platinum coins issued by government mints are also available. These usually have legal tender face values, but they require more processing at the mint, so their cost or price premium is often higher than mere platinum bullion bars or rounds.
Finally, you have non-safe haven paper trading synthetic options like ETFs. These do not allow you to actually store your own precious metals and are less popular than bullion and coins. They also charge annual compounding fees pilfering away your capital over time.
Bullion and coins are very different, and it’s about more than the additional premium attached to coins. Actual minted coins also carry numismatic value, which can be affected by things that collectors prize, such as rarity, condition, minting errors and the like. This is sentiment, and it is not something that can be counted on in the same way you can count on the market price for an ounce of platinum. Numismatic value varies by collector demand and region.
For those interested in pure platinum investment to safeguard their wealth, platinum bullion rounds and coins are the better options. For those who love the artwork on coins, and enjoy the chase and hunt involved with tracking down rarities, platinum coins can be worthwhile additions to a bullion long-term savings portfolio.
What are platinum futures contracts?
A futures contract allows you to bid and pay for a specific amount of bullion and to take delivery of it at some later time. These are common financial tools used in all commodities trading. However, there are problems here that might make you leery of investing in futures. For instance, you must pay for your platinum well before it is delivered. Delivery could be in a few weeks, or even months down the road. The platinum price will definitely have changed by then, and it is possible that you will have bet incorrectly and the price will have dropped, meaning that you’re losing money on the deal.
Another consideration here is that futures contracts are generally made for 50 troy ounces. That is a very sizable investment amount and might be out of reach for most retail investors. It is usually a better option to learn more about the platinum price at a particular time, track the price movements and then buy bullion or coins. A single ounce bar or round is far less expensive than the amount involved in a futures contract.
It is also important to understand that most futures contracts today are never delivered on. They’re settled for cash, or closed out before they expire. In fact, futures have become a short-term investment tool that does very little to help you hedge your wealth against future devaluation. There is the possibility that you might take delivery of your physical platinum, but then you’re left with other problems. You’ll incur additional fees in this instance, and you must have a way to safeguard at least 50 ounces of platinum.
Go to our Frequently Asked questions to know more about Platinum!