We at coininvest.com are very fortunate to be direct distributors of government-owned mints such as The Royal Mint and the Royal Canadian Mint and we benefited from stock levels established before the pandemic. However, sourcing additional material has been, and continues to be, challenging, to say the least. There are limited to no platinum coins or bars available on secondary markets, making it almost impossible to supplement our stock.
How do you see the remainder of 2020 playing out for bars and coins?
This is a difficult one! If you would have asked me back in January how I envisioned 2020, I would never have guessed that we would be where we are now.
Interest in platinum bars and coins is currently very high but, as mentioned, we are facing tremendous challenges with supply. There are limited new product announcements meaning that demand cannot be met. We highly anticipate the release of the 2021 platinum Britannia from the Royal Mint and are confident that this will fly off the shelves!
Is the recent cut in VAT in Germany having much of an impact on retail investment demand?
The VAT decrease here in Germany has drawn attention to VAT-liable investment products such as white metal for the simple fact that saving this three per cent is such a unique opportunity.
How well is the demand case for platinum investment in Germany understood?
German customers are generally well educated when it comes to platinum. The fuel cell electric vehicle (FCEV) market is no doubt responsible for this as platinum plays such a critical role in emissions control and air quality. With the German government leading the way in zero-emission fuels, and almost one million people employed by the automobile sector across the country, it is natural that there would be such an interest in platinum from our German customer base.
Working with the World Platinum Investment Council, we are always looking to give investors insight and information on developments in the platinum bullion market.