Anyone who’s interested in collecting foreign platinum coins should learn the basics, which helps investors make informed decisions about how to buy and sell platinum coins. While foreign platinum coins are fairly accessible in the U.S., some of these coins can still have significant value. Here are some tips for dealing with international platinum coins.
Learn Coin Terminology
Understanding the correct terms and becoming knowledgeable of coin features can help investors make wise decisions, secure better prices and make connections with other people who have a genuine interest in coin collecting. Would-be collectors should familiarize themselves with terms like “uncirculated coins,” “intrinsic value,” “high relief coins,” and “mint marks.”
Identify Bullion Pieces That Can Be Added to an IRA
Collectors who want to add platinum coins to their savings for retirement have to keep an eye on the IRS’s guidelines. The IRS permits platinum coins that meet purity standards of 99.95% platinum or 0.9995 level of fineness to be added to a precious metals IRA (Individual Retirement Account). International platinum coins must also come from an approved foreign government mint.
Look Out for the Most Popular Coins
The key to being a successful coin collector is knowing a coin’s market price and demand for the item. Here are some of the most popular foreign platinum coins:
- Austrian Platinum Vienna Philharmonic
- Canadian Platinum Maple Leaf
- Australian Platinum Koala
- Isle of Man Noble (Noble Manx)
- Chinese Platinum Panda
Platinum Bullion Coins Vs. Bars
Coins made out of platinum, gold, or other precious metals are often easier to buy and sell than bullion bars composed of the same precious metals. This is primarily because coins are government issued, are legal tender, and are guaranteed by the country of issuance to meet the stringent weight and dimension specifications established by the Mint. Additionally, coins made out of platinum and other precious metals are also easier to sell because the elaborate designs on coins are difficult to counterfeit. In comparison, checking to see if a bar of platinum bullion is legitimate can be a lengthy process.
Find a Reliable Coin Dealer
Are you ready to start investing in platinum coins? At Atlanta Gold & Coin Buyers, we’re knowledgeable coin dealers that offer a large inventory of rare coins, competitive rates, and services dedicated to investors. For a free, no-obligation evaluation of the coins in your collection, schedule an appointment with us by calling 404-236-9744 or reaching out online.