Platinum coins are a type of currency with international acceptance. The ISO 4217 code of Platinum is XPT. The exchange rate of platinum against US dollar, as on November 3, 2008, is 1 (oz.) XPT = 827.09 US$. Platinum is referred as a precious metal like Gold, silver etc.
Platinum bullion coins incorporate the Australian Platinum Koala, the Canadian Platinum Maple Leaf, the American Platinum Eagle and two platinum coin released by the Soviet Union as part of a series in 1990 and 1991 to commemorate the creating of Russian America. China minted 2000 proof-quality pieces with face value of 100 Yuan, 99.95% in composition, containing 1 ounce of platinum, during 1987.
The Russian Empire soon after made officially authorized platinum coins and the Soviet Union also minted platinum coinage. Nevertheless, the two countries abandoned the coinage for the same reason that Platinum appeared like a less expensive metals, and it is very hard to work, unlike the more soft and spongy silver and gold. The majority of the coins have been issued as special commemorative coins.
The platinum metals have exceptional catalytic properties. They are highly resistant to wear and tear, making platinum, well suited for jewelry applications. Other distinguishing properties include chemical resistance, excellent high-temperature resistance, and constant electrical properties.
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