Platinum Coin

Count platinum coins among the scarcest — and, physically, the densest — bullion coins minted anywhere. Fashioned from platinum of at least 999/1000 fineness, they marry the intrinsic worth of a rare industrial metal to the legal-tender standing of a sovereign issue. The live platinum price is available here on the site at any moment.

Where they came from

History's first modern platinum bullion coin was the Soviet Platinum Ruble, struck by the Soviet Union from 1828 to 1845 as a circulating coin — and it remains the only platinum coin ever to circulate as money. The contemporary bullion story picked up in 1983 with the Isle of Man Platinum Noble; the market then opened up in earnest with the U.S. Mint's American Platinum Eagle in 1997 and the Vienna Philharmonic in platinum in 2008.

The leading platinum coins side by side

Every coin above is issued in troy ounces (1 oz = 31.1035 g), and now and then fractional pieces of ½ oz, ¼ oz and 1/10 oz turn up as well.

Checking fineness and weight

Modern platinum bullion coins hold to a standard fineness of Pt 999.5 — that is, 99.95% pure platinum — while a handful of Perth Mint issues climb to Pt 999.9. The fine weight follows from:

Fine weight = gross weight × (fineness / 1000)

So for a 1-ounce coin at Pt 999.5, the fine weight is 31.1035 g × 0.9995 ≈ 31.088 g of pure platinum. Using the coin weight checker, you can verify your coin's weight down to the last decimal.

Spotting a genuine coin

With a density of 21.45 g/cm³, platinum is the heaviest of the tradable precious metals — outweighing gold (19.32 g/cm³) and sitting well above tungsten (19.25 g/cm³), the material most often used to fake gold coins. That heft is what makes density tests so dependable for platinum coins. Fitting methods of verification include:

1. Weight check – measured against the manufacturer's tolerances (±0.005 g on a quality scale)
2. Diameter and thickness measurement – with reference figures supplied per coin type by the manufacturer
3. Sigma Metalytics / XRF – non-destructive analysis of the alloy
4. Magnet test – platinum is only weakly paramagnetic and will not cling to a magnet
5. Ping test – platinum rings duller than silver, yet brighter than lead

Trade practice treats a combined test of weight, dimensions and XRF as the benchmark. As a first pass you can also draw on the coin authenticity check.

Tax treatment in Malta

Where investment gold is concerned, platinum coins get no such break: in Malta they carry no VAT exemption, and the full standard VAT of 18% applies. That pushes the acquisition price well above the bare metal value and shapes any return calculation. On the sale side, Malta imposes no capital gains tax when a private individual disposes of movable assets such as coins — Maltese capital gains tax reaches only a defined set of assets (immovable property, securities, business interests), and there is no German-style speculation period. For your particular circumstances, consult a tax adviser (this is not tax or investment advice). Sources: cfr.gov.mt, legislation.mt, eur-lex.europa.eu.

To work out your platinum coin's intrinsic value (its melt value), use the melt value calculator; the up-to-date price per troy ounce is on the platinum price page.

Premium and how easily they trade

On platinum bullion coins, the premium (agio) above spot generally runs from 4% to 10%, shifting with the supplier, the denomination and prevailing market conditions. The smaller pieces (¼ oz, 1/10 oz) carry proportionally steeper premiums. Platinum coins trade far less freely than gold or silver coins, which can mean thinner buying markets and wider spreads.

In brief

A platinum coin is a physical precious-metal holding of high purity and distinctive properties — but, unlike investment gold, it bears the full weight of VAT. Know the current platinum price and confirm your coin's weight and dimensions, and you are set up well for either buying or selling.