Buying Platinum Coins in 2026: Is it really worthwhile?

The volatility of the platinum market in 2025 and 2026 has fascinated and unsettled investors at the same time. While the platinum price surged from below $1,000 in June 2025 to over $2,900 in January 2026, a central question arises for many investors: Is buying platinum coins really worth it? Or is this just a speculative bubble? The following overview shows the opportunities and risks associated with investing in platinum coins.

Why did platinum fall into obscurity for so long?

For decades, platinum was the Cinderella among precious metals. While gold continuously reached new all-time highs—recently over $5,500 in January 2026—platinum hovered around the $1,000 mark from 2015 to mid-2025. This underperformance had concrete reasons: the automotive industry, traditionally the largest consumer of platinum, struggled with the diesel crisis and the shift to electric mobility. Diesel catalysts, which require large amounts of platinum, suddenly saw decreased demand.

Over a 10-year period, this difference is clear: gold increased by 331%, while platinum only rose by 132%. But the story took a dramatic turn from mid-2025 onward. The platinum price broke through the $1,700 mark for the first time in 14 years in October 2025 and reached a new all-time high of $2,925 on January 26, 2026—an increase of over 200% in just 8 months.

The perfect storm combination for platinum coins

This unprecedented rally was no coincidence but the result of several converging factors:

Supply shortages: South Africa, which supplies 70-80% of global platinum production, is struggling with underinvestment and power outages. Mine production fell by 5% in 2025, reaching the lowest level in five years. The World Platinum Investment Council (WPIC) already forecasts a third deficit year in 2025, estimated at 692,000 ounces.

Structural scarcity: The platinum market is significantly less liquid than the gold market. With only about 73,500 NYMEX contracts (roughly $8.3 billion in value) compared to over $200 billion in gold, this low liquidity amplifies both upward and downward movements.

Gold spillover: After the extreme rise in gold prices, investors actively sought cheaper precious metal alternatives. Platinum, being much rarer than gold, became a popular choice.

Geopolitical tensions: Trade conflicts, US tariffs, and tensions between the US and Iran traditionally supported safe-haven assets like precious metals.

Renewable energy: For the first time in years, platinum is again seen as a hope for fuel cells and green hydrogen. WPIC forecasts an additional demand of 875,000 to 900,000 ounces by 2030 driven by fuel cell technology.

The extreme correction: warning sign or buying opportunity?

After the explosive rally, a shock followed in early February: within just six trading days, platinum prices fell by up to 35.7% to $1,882 before recovering almost as quickly by nearly 20%. In early February, prices hovered around the $2,000–$2,100 mark—still 130% higher than a year earlier but far from the January highs.

This extreme volatility reveals a key reality of the platinum market: its low liquidity makes it dangerous for large positions. Individual trades can significantly move the price. This presents both opportunities and risks for buyers of platinum coins.

Buying platinum coins: different approaches

Investors interested in platinum have several options. Platinum coins are just one:

Physical platinum coins: The traditional route. They offer security through physical possession and are partly tax-advantaged. However, transaction and storage costs apply. For smaller positions, costs are proportionally higher. Buying platinum coins makes sense for investors who prefer real physical assets and think long-term.

Platinum ETFs and ETCs: For digital portfolios, a more flexible solution. These cost-effective instruments allow easy integration into existing securities accounts. Ideal for beginners.

Platinum mining stocks: Leverage on price movements but dependent on company quality, cost structure, and management decisions.

** CFDs and futures:** The speculative instruments for experienced traders. Futures like NYMEX platinum contracts enable leveraged positions. CFDs offer smaller entry points from €1 but carry higher risks due to slippage and gap risks in low-liquidity markets.

The 2026 scenario: what do experts forecast?

WPIC expects a nearly balanced market in 2026 with a small surplus (20 koz). This would mark the end of the deficit phase in 2025—with consequences:

Demand is projected to decline by 6%, mainly due to a 52% drop in investments. Analysts expect profits to be taken at higher prices and ETF outflows. Automotive demand decreases by 3%, while the industrial segment grows through glass capacity expansions.

Forecasts from major analysts vary:

• Heraeus Precious Metals: $1,300–$1,800
• Bank of America Securities: $2,450
• Commerzbank: $1,800

This range from $1,300 to $2,450 highlights the uncertainty—and is still conservative compared to January’s price of $2,925.

Long-term: renaissance or overvaluation?

WPIC forecasts that after the balanced 2026, platinum markets will enter another deficit phase that could last until at least 2029. Above-ground stocks could shrink significantly, which would support higher long-term prices.

However, the hydrogen boom many hope for has yet to meet expectations. Technological breakthroughs are not guaranteed. The shift to electric mobility could impact the automotive sector more than anticipated.

Is buying platinum coins worthwhile? Investment decision

For active traders: Yes, but with caution. The high volatility offers attractive trading setups. A trend-following strategy using moving averages (fast: 10-day, slow: 30-day MA) can work. Set stop-losses at 2% below entry, with a maximum risk of 1-2% of total capital per trade. With €10,000 total capital and 5x leverage, position size should not exceed €1,000. However, slippage and gaps are real risks in this illiquid market.

For conservative portfolios: Yes, but in moderation. A 5–15% allocation to platinum can diversify a US equity portfolio—its risk-return profile often differs from traditional assets. Buying physical coins or ETFs/ETCs makes sense as a supplement. Regular rebalancing is necessary.

For speculative investors: Probably not in 2026. After a rally of over 200%, entry points are less favorable. Take profits early.

Key factors for 2026

The following factors will determine platinum price levels:

• Federal Reserve policy: Slower rate cuts signal support for real assets
• US dollar: A weak dollar favors platinum; a strong dollar weighs on it
• Geopolitics: Ongoing tensions between US and Iran, trade conflicts remain influential
• Lease rates: Indicators of market scarcity
• Substitution risk: High platinum prices could lead automakers to switch to palladium

Conclusion: When is buying platinum coins sensible?

Buying platinum coins in 2026 makes sense for investors who:

1. Are long-term oriented: Can withstand 3–5 years of volatility
2. Seek diversification: Desire real asset correlation, not quick gains
3. Are risk-aware: Understand that 35% corrections can occur within days
4. Are prepared to differentiate: Know that physical coins offer different opportunities than ETFs or CFDs

For traders with a multi-month horizon and disciplined stop-loss strategies, platinum offers attractive opportunities in 2026. For buy-and-hold investors already buying gold, a 5–10% platinum allocation as a diversifier could be appealing.

What is less advisable: viewing platinum as a replacement for gold or as a purely speculative object. The fundamentals—rising deficits until 2029, limited supply capacity, hydrogen potential—are interesting. But the market price in January 2026 may already reflect these fundamentals to a large extent.

Buying platinum coins remains a consideration—only with a clear strategy, realistic expectations, and appropriate position sizes.