Saturday, March 29, 2008
Platinum coins
are a form of currency. Platinum has an international currency symbol under ISO 4217 of XPT. Platinum bullion coins include the American Platinum Eagle, the Canadian Platinum Maple Leaf, the Australian Platinum Koala and two platinum coin issued by the Soviet Union as part of a series in 1990 and 1991 to commemorate the founding of Russian America.
In 1987, China minted 2000 proof-quality pieces with face value of 100 Yuan, 99.95% in composition, containing 1 ounce of platinum.
The Russian Empire later made legitimate platinum coins and the Soviet Union also produced platinum coinage. However, both regimes abandoned the coinage, and for the same reason: Platinum resembles a great many less expensive metals, and it is very difficult to work, unlike the more malleable and ductile silver and gold.
In 1987, China minted 2000 proof-quality pieces with face value of 100 Yuan, 99.95% in composition, containing 1 ounce of platinum.
The Russian Empire later made legitimate platinum coins and the Soviet Union also produced platinum coinage. However, both regimes abandoned the coinage, and for the same reason: Platinum resembles a great many less expensive metals, and it is very difficult to work, unlike the more malleable and ductile silver and gold.
Production
In order to obtain pure platinum, the ore is crushed, made into a slurry, and then mixed with a detergent containing "collector" molecules. Air is then blown through the mixture, enabling the grains of metal minerals to be separated from the rest of the mixture. This process is called "flotation." The next step is smelting.
In 2006, world supply of platinum was of about 217,700 kg or 7 million troy ounces.
Average Price from 1991 to 2007 in $ per troy ounce (~$40/g).
In 2006, world supply of platinum was of about 217,700 kg or 7 million troy ounces.
Average Price from 1991 to 2007 in $ per troy ounce (~$40/g).
Platinum
(pronounced /ˈplætɪnəm/) is a chemical element with the atomic symbol Pt and an atomic number of 78. It is in group 10 of the Periodic Table of Elements. A heavy, malleable, ductile, precious, gray-white transition metal, platinum is resistant to corrosion and occurs in some nickel and copper ores along with some native deposits. Platinum is used in jewelry, laboratory equipment, electrical contacts, dentistry, and automobile emissions control devices. Platinum bullion has the ISO currency code of XPT.
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