While gold has been widely recognized as a precious metal for thousands of years, platinum is still a relatively new discovery among precious metal buyers. The earliest known existence of platinum spans back some two billion years ago, when the earliest recorded meteorite containing platinum impacted Earth. Read on to learn more about the history of platinum bullion and where you can buy it today.
Early Evidence of Platinum
The daughter of the King of Thebes was buried in a sarcophagus decorated with gold and platinum hieroglyphics in 700 B.C. The Incas, an ancient South American civilization, used platinum bullion to create nose rings and other types of jewelry. After this, platinum was virtually forgotten for nearly two thousand years.
Spanish Conquest
News of platinum bullion did not reach Europe until the Spanish conquest of the New World in the 15th and 16th centuries. At first the Spanish found platinum to be a nuisance, as it interfered with their gold-mining ventures. This is actually how platinum got its name—the Spanish conquistadores would call it “platina,” a derogatory moniker meaning “little silver.”
Discovery of Platinum’s Strengths
The strengths of platinum were not fully realized until midway through the 18th century, when it was officially recognized as a new element. Platinum is heavier than gold and cannot be corroded with gases or chemicals, which made it ideal for jewelry, laboratory instruments, and cutlery.
Rising Demand for Platinum
The demand for platinum soared when Louis Carter invented a high-temperature jeweler torch, which made it possible for more people to use platinum to create platinum jewelry. To keep pace with demand, the search for platinum intensified worldwide. Over the years Russia has minted hundreds of thousands of ounces of platinum, and the world’s largest platinum deposit near Johannesburg, South Africa has yielded much of our planet’s supply of platinum bullion.
To learn more about platinum and platinum bullion like the Austrian Platinum Philharmonic, call California Numismatic Investments at (800) 225-7531 or visit our website. We have more than 30 years of experience working with precious metals. We even offer free insured shipping on your purchase of gold, silver, and platinum coins or bullion.