Platinum is included in a very limited list of noble metals, where, in addition to it, there is also silver, palladium and gold. However, it is much less often used as an investment object, which is not surprising, because the price of the asset is subject to large fluctuations. There is demand for platinum not only in financial markets, but also in jewelry. Moreover, high-tech enterprises, where metal is used to create microcircuits and other elements of ultra-precise equipment, need it disproportionately more seriously. Let's figure out how much 1 gram now costs, as well as an ounce and a kilogram in rubles.
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The essence of making money on investments in platinum is speculative operations in which income is the difference between the buying and selling rates of an asset. When choosing this method, it is necessary to constantly monitor price fluctuations in the precious metals market. A tool such as an online rate chart allows you to monitor price changes in real time. It also makes it possible to predict the general trend for today and make a decision to buy or sell an asset.
Price of 1 gram of platinum in Sberbank of Russia
Today, Sberbank of Russia is actively promoting investments in precious metals, being one of the key participants in the process. It provides its clients with affordable ways to invest in platinum, palladium, gold and silver. At the same time, he sets current rates that are as close as possible to the quotes on the world market, displayed in this chart.
Platinum price per gram in unallocated metal account and physical metal in bullion
| Price 999 standard according to the Central Bank | Bank price today | Scrap price | Price in jewelry |
The closest value to world prices today are quotations from the Central Bank, which publishes precious metals rates in terms of dollars to rubles. The price of Sberbank of Russia differs from the market price because it includes the bank’s commission premium.
Today, a non-cash purchase will cost the owner of compulsory medical insurance approximately 3.5% more than the Central Bank discount price per gram.
A physical bullion will cost 27-37% more per gram. The greater its mass, the more favorable the price. The exchange rate difference is due to the addition of the value added tax, which is currently levied on transactions with precious metals, to the cost of refined (chemically pure) metal. The price also includes bank commission. Sberbank of Russia encourages large purchases by reducing the price of platinum per gram.
Platinum price per gram in bullion coins
Platinum products do not appear on the list of investment coins today. And the cost of a gram of metal of the highest standard in commemorative and anniversary copies offered by Sberbank of Russia starts from 2,570 rubles. Transactions with coins made of precious metals are not subject to tax, but their cost includes the work of the artist and production costs.
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Another important point is that the revaluation of commemorative and commemorative coins, as a rule, does not correlate with an increase in the market rate of precious metals. Therefore, with a sharp increase in quotes, buying a coin can be quite a profitable acquisition.
Price of the Central Bank of the Russian Federation
The Central Bank sets current rates for platinum, converted from dollar prices to rubles. Thus, the profitability of such operations is influenced not only by stock exchange quotes, but also by the exchange rate of the national currency today. I always use this chart when analyzing the market.
Platinum | RUB | 1 Gram
A little history
Platinum appeared in the Old World only after the discovery of America. The Incas mined it quite actively. The latter sintered metal with gold dust and forged elegant things. The Indians did not want to share their processing secrets with the conquistadors, and they, not understanding the value of platinum, began to contemptuously call it “silver.” This is exactly how its name is translated from Spanish into Russian.
The price of platinum was so low that it was often used to counterfeit the much more precious silver of the time. We learned about this by accident - in the second half of the 20th century, a Spanish galleon was discovered off the coast of South America, in the hold of which there were fake ingots. Thus, the governor of one of the colonies clearly tried to cover the shortage that had arisen not without his participation.
Much later, chemists learned that platinum combines well with gold and, as a result, acquires high malleability. At first, jewelers began to abuse this property. At the same time, it was impossible to expose the schemers - the specific gravity of platinum is 5 grams more than that of gold. Very soon, counterfeits flooded the market, and in some countries authorities banned the import of platinum.
In Russia, the first deposits of the precious metal were discovered in the first third of the 19th century - first in the Urals, and a little later in the vicinity of Nizhny Tagil. The reserves turned out to be colossal, and soon our country became the world leader in production.
The largest platinum nugget was also discovered in Russia - its weight is 12 kilograms.
Due to too high production, a considerable part of the platinum remained unclaimed, and as a result, the authorities of the Russian Empire decided to use the surplus for coinage. The first means of payment came into circulation in 1824. Then they were treated with great distrust, but now coins cost at least 5,000 US dollars apiece.
The demand for the precious metal grew significantly only after chemists managed to develop a method for its purification at the end of the 19th century. It was from this time that platinum began to be used to make frames into which diamonds were set. Before that, the stones were attached to a gold base, but it was too soft and wore out quickly.
How the price is formed, why it changes and is different in different banks
The cost of precious metals in commercial banks includes several components: stock exchange quotes in dollars, the exchange rate of the ruble against the currency of trading operations for today and commissions of the financial institution itself.
To determine what markup Sberbank of Russia has set for platinum, it is enough to compare its rates with the Central Bank rate.
What affects the price of platinum
Fluctuations in the market value of any product are influenced by an independent economic law: the relationship between supply and demand. The mechanical engineering, chemical and jewelry industries absorb up to 70% of the mined platinum. Therefore, the price of this element rises when economic indicators are stable and investors do not need to save their resources with gold.
Today, the exchange rate is also significantly influenced by annual production volumes, which, by the way, have decreased somewhat in recent years.
Features of valuable metal
The metal is characterized by a silvery-white hue, melts when heated to a temperature of 1774 degrees Celsius, and boils at 4410 degrees. It is much heavier than silver and gold, but at the same time it is quite easy to forge, draw and roll (high pressure processing).
The white metal is chemically stable, it can only be dissolved in aqua regia, slightly not brought to a boil (a mixture of hydrochloric and nitric acids), as well as in molten alkali and a solution of potassium cyanide. It is not susceptible to acid, does not oxidize, and is capable of crystallizing into face-centered cubic lattices.
Platinum is absolutely not toxic to humans, but if it contains impurities in the form of tellurium, then negative reactions from the gastrointestinal tract, skin irritation, weakness and general intoxication are possible. In general, it is considered healing due to its ability to penetrate the cells of the human body and activate the work of almost all organ systems.
Platinum has the following properties:
- heat resistance;
- electrical conductivity;
- inertia;
- resistance to acids and organics;
- resistance to aggressive influences.
Due to its strength, jewelry made from nugget does not break and does not leave scratches. For decades they are able to maintain their original impeccable appearance. Most often in the jewelry industry, platinum is supplemented with diamonds that perfectly harmonize with it in color, but sometimes other precious and semi-precious stones are also used. The cost of the products depends on how much a kilogram of pure platinum costs.
Compared to gold products, platinum ones are more durable and are suitable for daily wear. Less expensive analogues include titanium and palladium, which are used both independently in jewelry and as additional alloys.
Types of investments in platinum
Today, there are several simple and publicly available ways for individuals to make a contribution to this metal.
Compulsory medical insurance
An unallocated metal account makes it possible to make money on exchange rate fluctuations, since the bank’s commission for transactions with non-cash precious metals is minimal. Profits from operations are subject to income tax. The tax agent is the account owner. However, after 3 years of owning the platinum, profits from its sale are not subject to taxation.
Ingots
Sberbank of Russia currently sells refined platinum ingots weighing from 5 to 100 grams. However, this method has its drawbacks. The VAT levied on purchases and the costs of storing bullion make purchasing bullion less attractive in terms of earning money.
Investment coins
Hoarded platinum coins are not issued today. But Sberbank of Russia offers an assortment of commemorative banknotes made from this metal. The advantage of this type of deposit: no VAT is charged, small circulations of coins and how old they were made. The most recent release took place in 1995, which plays into the hands of the owner of the item.
Which investment method is more profitable?
The best prospects for today are provided by compulsory medical insurance. Rates of physical precious metals in bars and coins due to taxes, bank markups and related expenses will most likely bring losses. Even in the event of a record price increase, the same metal account will provide a profit unencumbered by additional expenses.
Dynamics in recent years
By 2022, experts predicted an increase in the price of metal assets, linking the increase in the exchange rate with the aggravation of the trade confrontation between China and the United States. By mid-2022, this war reached its climax - both states imposed duties on the import of goods, the amount of which amounted to billions. The conflict has not yet been resolved; negotiations on the situation are ongoing.
Contrary to forecasts, all metals fell in price, and the owners of compulsory health insurance felt this for themselves. Perhaps the reason is that the dollar has strengthened in the global foreign exchange market.
If we take statistics over the last 10 years (from 2009 to today), we will see that all metals have risen significantly in price, despite repeated drops and increases in exchange rates, sometimes sudden and large. See how this happened in the graph:
Gold, Silver and Platinum Quotes from TradingView
Purchasing and storing bullion at Sberbank
Purchasing bullion is an operation similar to currency exchange. Platinum can be purchased at the cash desk of a branch of Sberbank of Russia. The bank provides safe deposit boxes for long-term rent for storing valuables. Sberbank of Russia does not currently offer metal deposit accounts to its clients.
Advantages and disadvantages
The advantage of owning platinum is that you have physical metal in your hands. Thus, you are insured against bank bankruptcy and non-payment of the deposit. But this is a way, first of all, to save money, and not to increase it.
Procedure for selling bullion
Today, to sell bullion, you should contact an authorized branch. In addition to the metal, you should have a certificate for it, a purchase receipt and an identity document of the owner. The operation itself is identical to currency exchange at the established rate.
Selling a bullion purchased from another bank
Banks have no problem accepting metals purchased from competitors if you have a certificate and receipt of purchase in your hands, and the bullion itself is in excellent condition. Today, Sberbank of Russia accepts silver, platinum and gold from the population.
Taxes and restrictions on acquisition
The volume of purchased platinum, or the purchase amount, is not limited either by law or by Sberbank of Russia. Value added tax is already included in the price of the bullion and is not reimbursed upon sale.
Account opening methods
An individual needs very little - just a passport, a certificate of TIN assignment (if any) and the required amount.
Poste restante
Those who decide to open compulsory medical insurance at Sberbank have two options:
- Come in person to one of the Sberbank offices (not just any branch is suitable - you should first check by calling 8-800-555-55-50 whether the nearest one is suitable for your home).
- Use the Sberbank Online service (only for personal account users).
In the second case, since the agreement with Sberbank has already been signed and your data is in the database, you can create compulsory medical insurance with a few clicks of the mouse.
Urgent compulsory medical insurance
Today, Sberbank does not offer to charge interest to investors for deposits in metal, so it will not be possible to open a deposit compulsory medical insurance. In those banks where such a service is available, the conditions for its provision are usually the same: either a visit to the office, or a simplified remote scheme for bank clients.
How to open compulsory medical insurance in SB
Compulsory medical insurance is opened if you have a current account with Sberbank of Russia. If you are not yet a bank client, you need to visit one of its branches with an identity document and a certificate of assignment of an individual tax payer number. The manager will prepare the documents and open the account.
If you already have a service agreement with Sberbank of Russia, then you can apply for compulsory medical insurance online in your own account and immediately top it up by non-cash purchase of platinum, without leaving your home.
Forecast
Today, most experts believe that precious metals will continue to rise in price, but there will not be a sharp increase in the exchange rate. They present both arguments related to all metals (mainly geopolitical) and individual ones (increasing inflation of paper money, finite reserves of precious metals).
For example, there is a version that by the end of 2022, platinum will practically displace palladium from the production of autocatalysts. This will lead to an increase in its demand, and consequently to a strengthening of its position.
