Platinum in brief
Platinum is mined in far smaller quantities than gold, with annual production a small fraction of gold's. Despite that scarcity it is the least talked about of the major precious metals in New Zealand, which is exactly why it is worth understanding before you buy rather than after.
What moves the platinum price
Unlike gold, most platinum demand is industrial, led by catalytic converters in vehicles, with jewellery and bullion making up the rest. Supply is heavily concentrated in southern Africa. A small market with concentrated supply and industrial demand means the price can move sharply in both directions, and for long stretches of recent history platinum has traded below gold despite being rarer. None of this makes platinum better or worse than gold, but it does make it a different kind of holding.
What forms it comes in
Platinum is available as minted bars and government mint coins, though the product range is narrower than for gold or silver. As with the other metals, bars generally carry lower premiums and recognised coins offer easier resale in small quantities.
GST treatment
Platinum refined to 99 percent purity or higher qualifies as fine metal under New Zealand GST law, so qualifying bars and coins are exempt from GST. Check the stated purity on any listing, and see our GST on bullion guide for how the rules work across all the metals.
Things to weigh up
The platinum market has fewer buyers and sellers than gold or silver, so the gap between buy and sell prices tends to be wider. Before purchasing, it pays to ask any dealer how their buyback works for platinum specifically. Ours is outlined on the buy back page, and you can watch the platinum spot price on our live prices page.
Platinum at Williams Bullion
Browse the platinum collection to see current products.
This article is general information only and is not financial advice. Consider your own circumstances and seek professional advice where appropriate.
Visit the Williams Bullion showroom at 124 Peterborough Street, Christchurch, or call +64 3 667 2327.