Buy platinum

Storage of physical platinum

As a private individual, you can purchase platinum bars at a lower cost by storing them in a bonded warehouse in Switzerland. Since the platinum is stored there, you can buy physical platinum without paying the 21% VAT. The platinum is never imported into the Netherlands. Within this depot, you can also easily sell your platinum.
 
The platinum bars we offer for storage in Switzerland are from Valcambi, a recognized Swiss producer. All these platinum bars are minted with a purity of 99.95%, and each bar weighs 1 troy ounce (31.103 grams).

Since the platinum market is very small and there are hardly any above-ground platinum reserves, a physical platinum shortage can occur quickly. For comparison, the gold market is so large that the above-ground gold reserves equal what is mined in 64 years. This means the annual mine production increases the global gold supply by about 1.5%. With silver, the situation is different as it is heavily used in industry (around 50% of annual mine production). The global silver reserve is not very large either and takes 1 year and 3 months to rebuild from mining.

However, with platinum, a shortage can occur quickly. The global platinum reserve corresponds to what is mined in 7 months. This is common for commodities, but for a valuable precious metal like platinum, the price can rise rapidly if there is a sudden drop in supply.

 
A decrease in platinum supply will thus lead to a shortage. Platinum supply is almost entirely dependent on mining, with about 70% coming from South Africa. Issues in this country, whether geopolitical or otherwise, are crucial for the platinum market. South African platinum miners are often dissatisfied and demand higher wages, leading to strikes and reduced supply. Many platinum mines in South Africa are also unprofitable, operating solely to create employment (the country faces high unemployment).
 
The remaining 30% of mine production comes from Russia (over 10%), Zimbabwe (8%), and North America (7%). Other countries contribute only 5% (Source: U.S. Geological Survey).
 
For several years, less platinum has been mined than the market needs, depleting above-ground reserves. It takes about 10 years for a new mine to become operational.
 
Even if platinum production remains steady, a shortage can occur if demand increases. This is likely given the transition from fossil fuels to renewable energy. Platinum is indispensable in the production of electric or hydrogen-powered vehicles. Fuel cells needed to convert hydrogen into energy require a significant amount of platinum.