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The E-Sylum:  Volume 11, Number 19, May 11, 2008, Article 14

ON PLATINUM COINS

Tim Shuck of Ames, IA writes: "You had a note in the April 27
E-Sylum about the proof platinum coin you viewed having surfaces
that were 'flat-out dull and ugly'. That hasn't been my
impression, at least based on the few platinum proofs I own.

"But, to look again and compare, I just put a platinum Statue
of Liberty (or Eagle as some label them) next to a Jefferson
nickel and a silver state-series quarter, all graded proof
69. The silver and platinum coins look very similar to me,
but both are fairly 'cold' in comparison to the nickel which
has more of a warm reflectivity; from the copper content I
presume. I think there might be more of a difference in
appearance between the metals in a non-proof coin but don't
own any of those in platinum to do a comparison.

"I've always assumed that the reason we don't see many
circulating platinum coins is the relative scarcity of the
metal, which would translate into a higher cost for coinage.
Silver and gold (and copper) adequately provided for the coins
needed for most commerce. A platinum coin probably would have
been pushed to a denomination higher than the double eagle,
which likely was not needed or wanted.

"Since I first started looking at bullion prices in 2004
platinum has always been about two times the price of gold
per once, more or less, even though the ratio of the two in
native state is much higher (meaning platinum should be even
more expensive). In any case that's a fairly steep price of
admission, so to speak. Given the storied political history
between gold and silver factions perhaps there's just never
been room for another noble metal advocacy."

 WAYNE'S NUMISMATIC DIARY: APRIL 25, 2008
 esylum_v11n17a10.html

  Wayne Homren, Editor

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