2016-10-13 Thu

Plans for introducing a Nelson Mandela platinum coin has been on for two years now. Platinum producers have managed to convince Austria to introduce a platinum coin but not South Africa.

Anglo American Platinum CEO, Chris Griffith, is eager to introduce the coins quickly to grow demand for the metal in its three main markets: autocatalyst, jewellery, and investment. 4% of platinum demand is observed in the investment market and the platinum producers are looking to expand it through World Platinum Investment Council (WPIC) with the sale of platinum coins and bars. The new Philharmonic coin of Austria is made of one ounce of platinum and has a face value of 100 euros. Officials fear that there are a lot of government bureaucracy procedures that are causing hindrances in the issue of platinum coins.

Efforts are still on to convince South Africa to introduce platinum coins.