Platinum is money
In the bull market of the late 1970s, platinum matched the gains of both gold and silver, which suggests that platinum was acting as a monetary asset during this inflationary period/dollar crisis. Although platinum coins were used in Russia in the nineteenth century, the scarcity of platinum, combined with its much higher cost of production, make it a poor choice for this purpose. It has, however, served as a store of economic value for 300 years.
Rarest precious metal
Platinum is the rarest of the precious metals and its price reflects this. It takes approximately ten tonnes of ore and six months of mining to produce a single ounce of platinum. Platinum is 30 times rarer than gold. Unlike gold and silver, which are mined in almost all areas of the world, most of the world’s platinum comes from only two countries – Russia and South Africa. All the platinum ever mined would occupy a space of approximately 25 cubic feet.