Platinum bar and coin demand poised to grow significantly
Platinum bar and coin demand is expected to jump 49 per cent in 2023, reaching a three-year high of 507 koz, with manufacturers in North America and Europe stepping-up production to meet increased demand. This strong performance will drive overall platinum investment demand back into positive territory, resulting in forecast net investment of 212 koz.
Year-to-date, the UK’s Royal Mint has seen a record number of first-time customers buy investment platinum, with 15 per cent more brand-new platinum investment customers than in 2021.
For next year the mint is extending its range of platinum bullion investment products, recently announcing the addition of two new coins. The Robin Hood 2023 1oz platinum bullion coin is the first of a new bullion coin collection inspired by Britain’s legendary past. The reverse depicts Robin Hood, bow in hand, ready to spring into action in Sherwood Forest, while the obverse carries The Royal Mint’s fifth and final effigy of Queen Elizabeth II. Two more coins celebrating the tale of Robin Hood will follow, featuring the heroine Maid Marian and Robin Hood’s trusted companion, Little John.
The Yale of Beaufort 2023 1 oz platinum bullion coin is the second such coin to be featured in the mint’s Royal Tudor Beasts coin collection, the first being the Lion of England 2022 1 oz platinum bullion coin. The Royal Tudor Beasts Collection is based on the ten stone sculptures along the Moat Bridge at Hampton Court Palace which represent the royal ancestry and union of the Tudor monarch Henry VIII and his third wife Jane Seymour.
Both the Robin Hood 2023 and the Yale of Beaufort 2023 1 oz platinum coins are struck in 999.5 fine platinum to The Royal Mint’s bullion standard, with a face value of £100.
Platinum Pandas back for 2023
The People’s Bank of China has, for the second successive year, authorised a set of its iconic Panda precious metal commemorative coins to include platinum. Last year the range included the first platinum Pandas to be released since 2005.
Within the 2023 14-coin set are two platinum proof coins, weighing 30g and 3g each, with a mintage of 5,000 and 30,000, respectively. The coins are struck in .999 fine platinum and distributed solely by China Gold Coin Incorporation.
The obverse of the 2023 Panda bears a design of the Hall of Prayer for Good Harvests of the Temple of Heaven, while the reverse is a charming depiction two pandas climbing a tree.
