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Platinum objects have been found that were manufactured 3000 years ago in Egypt. Then, and for many centuries that followed, there were no written sources on Platinum. Platinum eventually got a name and recognition as separate bullion, 500 years later. Spanish settlers in South America then discovered it while digging for silver. In the first centuries, it was considered a useless by-product, but the qualities of this very exclusive bullion was discovered in the 18th century.


Platinum, just like silver, has numerous industrial applications. So the platinum price can respond both to a rush towards bullion because of financial uncertainty, as in growth in industrial production. The size of the annual extraction of platinum is 6% of gold and less than 1% that of silver, so it is a very scarce bullion. Interestingly, platinum is used in the production of emission reducing catalytic converters in cars.


VAT-free platinum


Because platinum has industrial applications, the fiscal authorities eliminated 21% VAT on the purchase of platinum. AmsterdamGold therefore also only offers platinum in the VAT-free customs warehouses of AmsterdamSafe. If you have purchased platinum with storage in the customs warehouse, you can sell it through AmsterdamGold. This way, you will never have to pay VAT on your investment in platinum.