The appeal of platinum as an investment asset is increasingly recognized by investors in China, which is gradually becoming one of the most important investment markets for platinum bars and coins.
At the 2024 Beijing International Coin Exhibition, China Gold Coin Group unveiled the first-ever large-size platinum investment bar – 1 kg of 99.95% pure platinum in a special dragon design inspired by the famous Chinese legend of a fish turning into a dragon.
The launch of the Fish-to-Dragon investment bar comes as demand is forecast to grow 34% year-on-year to 250,000 ounces this year, following an increase from 31,000 ounces in 2019 to 186,000 ounces in 2023. The key driver behind this increase is the purchase of larger bars weighing 500 grams and above.
This year’s Shanghai Platinum Week 2024, held from July 8 to 11, was a major platform for industry innovation and collaboration. It once again demonstrated the critical role of platinum group metals.
Improving supply chains and rapidly growing awareness of platinum investment have led to “unprecedented growth in physical investment demand” for platinum. The metal’s appeal is enhanced by its growing industrial applications, its inclusion on many countries’ essential mineral lists, and its deep discount to gold, as reflected in the launch of the China Gold Coin Group’s platinum investment bar.
China Gold Coin Group is a government-owned entity that plans and coordinates domestic investment metals demand in consultation with the Central Bank of China.
Last year, China Gold Coin Group introduced a 15-gram platinum coin to its Zodiac series, and earlier this year, it released 10-gram and 100-gram platinum bars to mark the Year of the Dragon.
Designed by Professor Chen Nan of the Tsinghua University Academy of Art and Design, the Dragon Fish Bar is a work of art that celebrates China’s cultural heritage. The mythical beast is made up of nine oracle-bone-style fish pictographic symbols that transform into a mighty dragon.
Oracle bone script is believed to be the earliest known form of Chinese writing, dating back to the Shang Dynasty (1400s BC), and the design symbolizes the concept of self-transcendence and advancing to victories in life. Importantly, it conveys a compelling message about the improving fundamentals of the platinum market and the rising potential for investment. Commenting on the decision to release a large investment bar, Yin Xianmin, CEO of distributor Shenzhen China Gold Coin, pointed to the growing interest in platinum as an investment product. “We have added our first 1 kg platinum investment bar to our range of platinum bar and coin products in response to investor demand, and we believe that there is significant development potential for this segment of the bar and coin market,” he said.
The 2024 Beijing International Coin Exhibition was held from November 1 to 3 at the China National Convention Center. Held since 1995, the exhibition is recognized as one of the three largest coin exhibitions in the world. This year, about 300 exhibitors from 18 countries and regions attended it.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
