WORLD COIN:WERE COINS EVER MADE OF PLATINUM?
Were coins ever made of platinum?
This question was asked by my Sifu,Mr.Tony Au,a Malaysian veteran numismatist.
It was never found in any large quantity until about 1882 or 1823,when large veins were discovered in the Ural Mountains of Russia.It was found in the gold mines of Colombia;USA,but for years had been discarded as a useless byproduct when mining gold.Smaller amounts were found also in California;USA,Spain and other parts of the world.
Because the metal was slightly heavier than gold,counterfeit coins of platinum appeared from time to time.United states five dollar gold pieces made of platinum and gold plated are known. In 1921 a counterfeit 1869 English sovereign was reported.In 1869 this rare metal still only sold for USD4.00 an ounce.
The Russian platinum coins are rare today.Because of the rising price of the metal,more and more of them were continually being sold for their bullion content.What a shame! Today a Russia-Nicholas I platinum 3 Roubles 1828 CПБ, Proof 64 Cameo NGC. The strike is virtually flawless and the deeply mirrored fields contrast starkly with the frosted devices giving a nice cameo appearance. Estimate: USD7,000 - $10,000.00
6 Roubles coin sell for USD12,000.00,while certain 12 Roubles pieces sell for in excess of USD90,000.00.
This question was asked by my Sifu,Mr.Tony Au,a Malaysian veteran numismatist.I did my homework (research),the answer is Yes.
It is strange to think of platinum as a metal used to strike coins,but then,fact is often stranger than fiction.
We know platinum to be a very hard,heavy,silvery metal that does not oxidize.The metal has been known since the beginning of recorded history,but it was not until about 1803 that William H. Wollaston,an English scientist,discovered how to make it malleable.
It was never found in any large quantity until about 1882 or 1823,when large veins were discovered in the Ural Mountains of Russia.It was found in the gold mines of Colombia;USA,but for years had been discarded as a useless byproduct when mining gold.Smaller amounts were found also in California;USA,Spain and other parts of the world.Nicholas I became Czarof All the Russias in 1825.He authorized that the three,six and twelve Roubles be struck from this rare metal.from 1828 to 1845 all of this series were platinum-struck.They fell into public disfavor,not being nearly as attractive as gold and silver,and in 1845 the government agreed to redeem all for gold and silver.It must be remembered that at that time the world market price of platinum was only about USD1.00 an ounce.
Because the metal was slightly heavier than gold,counterfeit coins of platinum appeared from time to time.United states five dollar gold pieces made of platinum and gold plated are known. In 1921 a counterfeit 1869 English sovereign was reported.In 1869 this rare metal still only sold for USD4.00 an ounce.
The Russian platinum coins are rare today.Because of the rising price of the metal,more and more of them were continually being sold for their bullion content.What a shame! Today a Russia-Nicholas I platinum 3 Roubles 1828 CПБ, Proof 64 Cameo NGC. The strike is virtually flawless and the deeply mirrored fields contrast starkly with the frosted devices giving a nice cameo appearance. Estimate: USD7,000 - $10,000.00
6 Roubles coin sell for USD12,000.00,while certain 12 Roubles pieces sell for in excess of USD90,000.00.
Phew, simply awesome!
ReplyDeleteIts a pity don't even know where we can buy palladium bullion coins in our own country without resorting to the net?
Nice article, Dickson :)
Dear whycollect,
ReplyDeleteThank you for introducing the "elder" brother of Platinum,Palladium to me.Today I learnt a new word.Thank you.
Beware,a lot of Restrike for sale!
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ReplyDeleteYes, platinum was used as coins before, for his reason, many want's to buy those coins, sell them and earn good cash for platinum.
ReplyDelete