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NZ Mint goes platinum

22 May, 2014

NZ Mint goes platinum

Auckland-based precious metal company New Zealand Mint is now trading platinum.

Head of bullion Clare Goldsworthy says while there is only modest demand, adding it to the company’s portfolio completes its precious metal product range.

Platinum is one of the rarest elements in the earth’s crust and only a few hundred tonnes are extracted annually. By comparison, about 2,497 tonnes of gold are mined annually.

South Africa produces about 80 per cent of the world’s platinum supply. Apart from its value as an investment, platinum is used in electronics, dentistry, jewellery manufacturing and in engine catalytic converters.

It currently trades at US$1,475 an ounce compared to gold’s US$1,291. (Prices as at 12:15pm 22 May, 2014)

About New Zealand Mint
New Zealand Mint has been minting legal tender commemorative coins, gold bullion and medallions for more than four decades. As New Zealand's only precious metal mint and one of the first world mints to adopt the .9999 standard for gold coin purity, New Zealand Mint prides itself on high quality design and production work. In 2009,New Zealand Mint opened the Bullion Exchange, the first of its kind in New Zealand which offers a comprehensive service for buying and selling gold, silver and platinum bullion as well as on-site insured storage. Leading the way with innovative, coloured, silver and gold commemorative coins, New Zealand Mint is known globally for quality and design excellence. New Zealand Mint also produces several ranges of jewellery that cater to many tastes and styles, including the Boh Runga for New Zealand Mint collection.

ENDS

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