The Platinum Platypus is a 1 oz. Platinum Coin minted by the Perth Mint of Australia with limited production numbers.It is their latest release in the Australian Bullion Coin Program. They come encapsulated in plastic and are legal currency under the Australian Currency Act of 1965. The Australian Platypus is struck from one ounce of 99.95% pure platinum.
Despite that the obverse of this coin features Queen Elizabeth II, and the reverse a platypus, the coin still manages to convey a beauty few coins have achieved. The coin is designed by Ian Rank-Broadley. The coin portrays the Platypus in its aquatic environment.
Through the first month of 2013, platinum was the second best performing asset YTD.
Demand for platinum ranges from catalytic converters for automobiles to a stalwart jewelry demand that is growing due to economic strength in the east.
Gross demand for platinum from the global jewelry industry grew in 2012 by 10% to 2.73 million ounces, the highest since 2009, according to Johnson Matthey’s recent “Platinum 2012 Interim Review.”
With precious metals prices rising, jewelry manufacturing in China has expanded to become the biggest market for such platinum product. Demand for platinum jewelry is anticipated to rise by 25% to 100,000 oz.
Considering recycling of old retailer stock and consumer pieces, net platinum jewelry demand in China is expected to grow by 16% to 1.42 million ounces. Platinum purchases by the Chinese jewelry industry through the Shanghai Gold Exchange and Hong Kong traders ran at a three-year high in the first eight months of the year due to low prices.
Driving the demand in part, new Hong Kong jewelry brands have increased the need for manufacture stocks of platinum jewelry. Demand is stalwart throughout mainland China.