Manfra, Tordella & Brookes (MTB Metals), part of the MKS PAMP GROUP and a major name in precious metals, has released its first-ever 1oz platinum bullion Gibraltar Castle Coin. The 2022 coin is produced by PAMP SA, a leading bullion brand operating a state-of-the-art precious metals refinery, and struck in 99.95 per cent pure platinum.
It is legal tender in the country of issue, Gibraltar, with a face value of GIP 5. GIP – the Gibraltar pound – is pegged to the British pound sterling at par value.
Gibraltar itself is a British Overseas Territory and headland on Spain's south coast. It is dominated by the Rock of Gibraltar, a 426m-high limestone ridge. First settled by the Moors in the Middle Ages and later ruled by Spain, the outpost was ceded to the British in 1713.
The design of the 2022 1oz platinum bullion Gibraltar Castle Coin is inspired by another of Gibraltar’s landmarks, the remains of a 14th-century Moorish Castle. It also features the official Coat of Arms of Her Majesty’s Government of Gibraltar.
Platinum demand
Commenting on the debut of the 1oz platinum bullion Gibraltar Castle Coin, Drew Bloomberg, Vice President, Sales at MTB Metals, said:
“Platinum is in demand and now felt like a good time to expand our platinum coin offering. We have worked closely with the government of Gibraltar to produce this expertly crafted, officially authorised, special issue coin, which we hope will be the first in a series. As sole distributor, we are delighted to make the 2022 coin available to investors worldwide.”
The 1oz platinum bullion Gibraltar Castle Coin - obverse
Platinum bars and coins are a consistent platinum demand source. As well as accessibility and liquidity, investing in platinum bullion in the form of bars and coins can be attractive to investors as it carries no credit or counterparty risk, unlike stocks or bonds.
Adding platinum to a portfolio can also have diversification benefits.The relatively low platinum price and heavy discount to gold has supported demand for platinum bullion products in recent years, particularly in 2020 as risk associated with the global pandemic increased demand for hard assets including platinum. So far in 2021, North America has continued to experience strong demand for platinum bullion bar and coin products and this is expected to be the case for the remainder of the year.
In some jurisdictions, for example the US, platinum bullion can be directly included as an asset in a pension plan.
