Homepage / Buying Guides: Plat & Pall Guide

Last updated on 04/09/2026

Platinum and Palladium Bullion
Buying Guide

with a list of
Reputable Bullion Dealers

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Platinum and Palladium are two precious metals that are in a family of six metals called Platinum Group Metals (PGMs).

The group of six metals includes platinum, palladium, rhodium, ruthenium, iridium, and osmium. They are rare metals that have similar chemical, physical, and structural properties. 

Out of the six rare metals, osmium is the hardest and densest, palladium is the most abundant, iridium is the rarest, and rhodium is the most expensive; as of this writing, it was last worth more than $10,000.00 a troy ounce. (price source).  

Platinum and palladium are valuable metals that possess unique precious and industrial properties, which help investors diversify their portfolios. The bullion is 99.95% pure and comes as coins or bars in different sizes, making it easy to buy and sell.

The following are the characteristics of Platinum Group Metals (PGMs) provided courtesy of Johnson Matthey:

• Platinum - Platinum is a dense, silverish-white transition metal. Platinum does not corrode, even at high temperatures.  It is a indispensable industrial metal with durability and catalytic power. Mining and recycling of the metal are barely keeping up with demand which ensures that investment in the metal will remain high.

Platinum Applications: Jewellery, automotive, electronics, aviation, investment coins / bars, and medical technology

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• Palladium - is a grey-white metal, it has the lowest melting point and is the least dense of all platinum group metals, which makes it easier to be worked.  It is the most well-supplied PGM, with high demand for gasoline catalysts, chemicals, and electronics. 

Palladium Applications: Emissions control, electronics, medical, investment coins / bars, military, and aerospace

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• Rhodium and Iridium are difficult to work, but are valuable alone as well as in alloys. Their chemical compounds have many uses, both are particularly good catalyst.  Rhodium is critical for reducing gasoline NOx emissions in catalytic converters.  Iridium is used along with Platinum in Hydrogen Fuel Cells.  

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• Ruthenium and Osmium are hard, brittle and almost unworkable in the metallic state.  The metals have poor oxidation resistance, but are valuable as additions to other metals, usually other PGMs, and as catalysts.

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Platinum and Palladium Price Movements

The historic comparison chart below dates between 1970 and 2020; it shows you how gold, silver, platinum, and palladium prices have moved over the fifty-year time period. 

Platinum and palladium primarily respond to industrial market demand and are not as significantly impacted by economic monetary factors like gold and silver.   

Since platinum and palladium are primarily industrial metals, investors should focus on their supply and demand dynamics when investing in these metals, as this buying guide will show.

Snapshot analysis of the 2019-2020 Price Movements in the Chart Below (far right on chart below): 

Palladium and Gold are seen moving higher late in the chart below coincidentally, and not for the same reasons. Palladium moved up in  2019-2020 because of its low supply and high demand in the automotive industry.  Gold, on the other hand, was moving up for monetary reasons as a safe-haven precious metal due to the beginning of the COVID-19 era. 

Silver's price is influenced by monetary factors similar to gold; however, 55% of the silver market is driven by industrial demand, causing it to respond more slowly to these monetary forces when compared to gold.  Platinum's price showed little movement from 2019 to 2020 because its market is mostly industrial, similar to palladium; however, it wasn't in deficit at the time, and its industry drivers were not in overly high demand. (click chart to enlarge)

chart above provided courtesy of SD Bullion and goldchartsrus.com

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Platinum Group Metals
Mine Locations & Production

Platinum Group Metals (PGMs) ore deposits are 30 times rarer than gold. 

The small orange circles and ovals on the world map below offer you a glimpse into how rare Platinum Group Metals occur in the Earth's crust.

Mine production and the scarcity of platinum group metals are among the first things that investors in Platinum and Palladium should keep in mind.   

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Regarding all the deposits of Platinum and Palladium scattered around the globe, South Africa has the largest deposits of Platinum Group Metals in the world.

The chart directly below gives you an idea of just how much South Africa provides the world with five of the six platinum group metals.

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Investors in platinum group metals closely monitor South African news related to mining union strikes, electricity outages, and mine closures, as the country significantly influences the supply of these metals.

Note: Prior to the Ukraine War, Russia was the primary provider of Palladium.

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Recognizing Demand 

The next sections of this guide outline the fundamentals you should know about platinum and palladium before buying them.

Automotive Sector

The automotive sector is the largest demand market for platinum and palladium.   

The automotive market is the first market sector to research regarding the historical, current, and future price performance of platinum and palladium.  

Q: What is it about the automotive sector that influences platinum and palladium the most?

A: Catalytic Converters 

Note: Hydrogen Fuel Cells are expected to become a large demand sector for platinum in the future. There's more on this subject below.

The Environmental Protection Agency has called the Catalytic Converter "One of the Greatest Environmental Inventions of All Time.”

How Catalytic Converters Work

All cars with internal combustion engines have catalytic converters that contain platinum, palladium, and rhodium.

Catalytic converters connected to an internal combustion engine neutralize over 90% of a car's toxic exhaust gases, converting them into less harmful gases and water.

The gases that come out of an internal combustion engine before they move through a catalytic converter are Hydrocarbons (HC), Oxides of Nitrogen (Nx), and Carbon Monoxide (CO). 

After the toxic exhaust gases travel through a catalytic converter's honeycomb of platinum group metals, the gases are converted into Carbon Dioxide (CO₂), Nitrogen Dioxide (N₂), and Water (H₂O).

Gasoline vs. Diesel Catalytic Converters
and What you should know about Hybrid Engines

Investors in palladium and platinum should be aware of three key facts regarding catalytic converters: palladium is used more in gasoline engines, platinum is utilized more in diesel engines, and it's important to know which type of vehicle has higher demand.

Gasoline Engines

• Catalytic Converters attached to Gasoline engines are filled with more Palladium than Platinum

Diesel Engines

• Catalytic Converters attached to Diesel engines are filled with more Platinum than Palladium
  

Hybrid Engines

• Catalytic converters attached to hybrid gasoline or diesel engines contain more platinum or palladium than those in non-hybrid engines, as the exhaust pipes in these vehicles take longer to heat up. Catalytic converters work more efficiently when they are very hot.

More on Catalytic Converters

Overall, catalytic converters are found in generators, motorcycles, buses, tractor-trailer trucks, and diesel trains. They are found in the exhaust systems of almost everything with an internal combustion engine.

The key is to learn which industries utilize gasoline or diesel engines, which is crucial as it directly influences the projected demand growth for platinum and palladium.

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Hydrogen Fuel Cells
(FCEVs & PEMs)

Fuel Cell Electric Vehicles (FCEVs) utilize hydrogen fuel cells powered by Proton Exchange Membrane (PEM) technology.

Platinum and iridium are the primary platinum group metals (PGMs) utilized in hydrogen fuel cells.

Hydrogen fuel cells are often referred to as Proton Exchange Membrane Fuel Cells, or PEMs for short. Click the image to the right to understand more about how these fuel cells work.

According to Johnson Matthey, hydrogen fuel cells have been used in industry for over twenty years; however, their use in vehicles is still in its early stages, although there are a few car companies that offer hydrogen vehicles.

Currently, Toyota, Honda, and Hyundai offer hydrogen fuel cell vehicles; however, most of the fueling stations for these vehicles are located primarily in California and Canada.  To find Hydrogen Fueling Stations in the United States and Canada click this Locator link.

Note: as of 2026, Hydrogen Fuel Cells are a minuscule part of Platinum demand.

Electric Vehicles

There are no Platinum Group Metals (PGMs) in the batteries used for battery electric vehicles (BEVs).

The following article will help you understand what metals are used in Electric Vehicles (EVs): Raw Materials For Electric Vehicle Battery: Essential Guide

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Platinum
Supply & Demand

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Platinum Supply

Source: WPIC Platinum Quarterly Q3 2025 page 20

As mentioned previously, South Africa is the world's largest supplier of platinum group metals. 

South Africa accounts for more than 50% of the global platinum supply, while the rest of the world accounts for a little over 20%.

As seen in the chart below, recycling significantly supplements the supply of platinum, as mine production alone is insufficient to meet demand. Without recycling, platinum group metals would face significant deficits, leading to dramatic price increases.

The recycling supply of platinum is essential to meet demand; that is better understood when you examine the chart in the next section on Platinum Demand.  Sources of recycled platinum come from jewelry, catalytic converters, and other industrial recycling.

In relation to platinum supply, investors want to watch these areas of interest:

• Mine Efficiency in South Africa and other platinum mines around the world.
• Aging Infrastructure of South African Mines - some mines in South Africa have outdated equipment, and energy shortages can also be an issue.
• South African Mine Stoppages 
• South African Mine shaft reduction - since 2008, 35% of mine shafts have experienced sustained contraction. 
• Decreasing Ore Grades - In South Africa miners are going deeper and are processing more material to extract the same amount of platinum.
• New Mines opening in South Africa and around the globe - Platinum group metals have recently been found in Brazil.
• Recycling - rates of recycling, and more efficient ways of recycling platinum group metals
• Supply Reports and Forecasts by those in the industry: Johnson Matthey (link), Heraeus (link), World Platinum Investment Council (link)

Source: WPIC Platinum Quarterly Q3 2025 page 20

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Platinum Demand

Source: WPIC Platinum Quarterly Q3 2025 page 20

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When you compare the totals of the Platinum Demand chart above with the Platinum Supply chart in the previous section, you can see that the platinum market is, and mostly has been, in deficit.  Due to this fact, if demand continues to outpace supply, the price of platinum should rise. 

The Platinum  market has a wide array of demand. 

In relation to platinum supply, investors want to watch these areas of interest:

• Diesel Vehicle Sales - catalytic converters connected to diesel engines contain more platinum.
• Sales of Non-Road Diesel Engines - boats, construction, agricultural and mining equipment
• Hybrid Diesel Vehicle Sales - catalytic converters in hybrid diesel vehicles have more platinum in them because it takes longer for the exhaust pipes to heat up.  (Note: Diesel hybrid vehicles are currently (2026), a small market: Mercedes, Volvo, Audi, and Range Rover are only manufactures) 
• Hydrogen Fuel Cell Vehicle Sales - this industry is in its infancy, and as of 2026, this market makes up a fraction of platinum demand, but that is expected to change.
• Jewelry Demand - Platinum jewelry's popularity has broadened around the world to China and India and has strong growth in the United States and Europe.
• Industrial & Chemical Demand - Platinum is used in oil refining processes, the making of computer parts, the making of fertilizers, premium glass and fiber optics.  They are also in many cancer fighting pharmaceuticals.
• Be Aware of New Uses for Platinum that could become new sources of demand.
• Investment Demand - physical metal bars and coins, as well as learning how many million ounces of platinum are held in exchange traded funds (ETFs - ex: PPLT).
• Demand Reports and Forecasts by those in the Industry: Johnson Matthey (link), Heraeus (link), World Platinum Investment Council (link)

Source: WPIC Platinum Quarterly Q3 2025 page 20

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Palladium
Supply & Demand

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Palladium Supply

Source: Johnson Matthey PGM market Report (May 2025, page 25)

Recycled palladium provides the world with more palladium than any country's individual output, which comes from the recycling of catalytic converters from vehicles that burn gasoline.

Russia is typically the largest supplier of palladium globally. The chart below shows that 2022 was the only exception, which coincided with the Russian invasion of Ukraine.

South Africa is the second-largest supplier of raw palladium ore, with other significant deposits found in North America, Zimbabwe, and various smaller locations worldwide.

In relation to palladium supply, investors want to watch these areas of interest:

• Gasoline Engine Vehicle Sales - the more of these vehicles are sold, the more these catalytic converters will be recycled.
• Russian Palladium Supply - How much is Russia supplying global inventories (at any given time)? Sanctions have limited their ability to export their palladium, and that could continue in the future.
• Russian Mine Disruptions - Norilsk Nickel is Russia's largest palladium and nickel mining company. It has faced operational issues including flooding and other incidents that have periodically halted production. 
• South African Mine Production Constraints: South African operations face persistent, severe power crises; aging infrastructure; and heavy rainfall, causing operational delays.
• New Mines opening around the world - Palladium is the most abundant of the Platinum Group Metals, and it is often found near nickel-copper ore deposits.

• Supply Reports and Forecasts by those in the Industry: Johnson Matthey (link), Heraeus (link).

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Source: Johnson Matthey PGM market Report (May 2025, page 25)

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Palladium Demand

Source: Johnson Matthey PGM market Report (May 2025, page 25)

Palladium is primarily driven by the automotive catalyst industry, which significantly influences its price.

Investors in palladium should focus on the sales of gasoline engine vehicles or hybrid vehicles that use gasoline, unless another industry begins to capture more of palladium's market share.

In relation to palladium demand, investors want to watch these areas of interest:

• Gasoline Engine Vehicle Sales 

• Gasoline Hybrid Engine Vehicle Sales 

• Supply Deficits - Supply deficits have been an industry norm for several years, and as long as the supply doesn't meet demand, the price of palladium should continue to climb.

• Be Aware of New Uses for Palladium that could become new sources of demand.  Example: Studies have shown palladium may help EVs improve battery longevity by 30%. (source)

• Investment Demand - physical metal bars and coins, as well as learning how many million ounces of palladium are held in exchange traded funds (ETFs - ex: PALL)

• Demand Reports and Forecasts by those in the Industry: Johnson Matthey (link), Heraeus (link).

Source: Johnson Matthey PGM market Report (May 2025, page 25)

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Physical Platinum Bullion

The rest of this buying guide helps you understand what is available on the platinum and palladium bullion market.  It also provides additional information for physical bullion investors and a list of reputable online dealers that offer physical platinum and palladium coins and bars.

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Platinum and Palladium
Bullion Coins
Present and Past

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American Eagle Platinum

1oz. | 1/2oz. | 1/4oz. | 1/10oz.

1997 - Present

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American Eagle Palladium

1 oz.

2017 - Present

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Canadian Platinum
Maple Leaf

1oz.

1988 to Present

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Canadian Palladium
Maple Leaf

1oz.

2005 to Present

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Austrian Platinum
Philharmonic

1oz. | 1/25oz.

2016 to Present

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U.K. Platinum
Queen's Beasts

1oz.

2017 to Present

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Platinum Australian
Kangaroo

2018 to Present

1oz.

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Platinum Australian
Lunar

2020 to Present

1oz.

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Platinum Australian
Platypus

1oz.

2011 - 2018

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Platinum Australian
Koala

1 kg. | 10oz. | 2oz. | 1oz. | 1/2oz | 1/4oz | 1/10oz. | 1/20 oz.

1987 - 2000

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Palladium Australian
Emu

1oz.

1996 - 1998

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Soviet Union / Russian Palladium
Ballerina

1oz. | 1/2oz. | 1/4oz. | 1/10 oz.

1989 - 1995

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Platinum and Palladium
Bullion Bars

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Platinum and Palladium bars are available in all shapes and sizes. 

Generally, bullion bars come in three categories: Minted, Extruded, and Cast, also known as Poured bullion bars.

Most Platinum and Palladium bullion bars are minted, not extruded or poured, which has a lot to do with platinum and palladium's hardness and high melt temperatures.

• Platinum's melt temp is 3,215°F / 1,768°C
• Palladium's melt temp is 2,831°F / 1,555°C
  

Minted bars have a more refined, smoother look than other bullion bars, plus many have a proof-like finish.  

You can find platinum and palladium bullion bars produced by PAMP, Credit Suisse, Valcambi, Johnson Matthey, and Engelhard, among other bullion refiners.

Below the next section on Bullion Storage, you'll find bullion dealers that offer several different types of platinum and palladium bullion.

Bullion Storage 

The Free Bullion Investment Guide provides storage guides listed below for those who want to own precious metals but aren't sure which form of storage is best for them.

Vault Storage of Assets Buying Guide

• For those unfamiliar with the various options available for storing assets, including precious metals, our Vault Storage of Assets Buying Guide offers comprehensive information on numerous asset storage solutions.

Home Safe Buying Guide

• For those who want to learn more about storing precious metals at home, see our Home Safe Buying Guide.  This guide also provides links to retailers who offer a wide variety of safes that will fit any investor's needs.

Vault Storage Brokerages of Gold, Silver, and Platinum Buying Guide

• For those who want to own, store, and trade precious metals abroad, you will want to see our Vault Storage Brokerages Buying Guide.

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List of Reputable
Platinum / Palladium
Bullion Dealers

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Note: If you're considering purchasing bullion from any of the websites listed below, I highly recommend taking the time to thoroughly review each company's ordering instructions and shipping policies. Doing so will ensure a smooth and satisfying buying experience.  These instructions can be found at the bottom of the dealer's website.

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Free Shipping on Orders $199+

4.8 star Customer Reviews

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BGASC (Buy Gold And Silver Coins) has a wide selection of platinum and palladium bullion.

Buy Gold And Silver Coins provides a selection of bullion bars from vintage refiners and bullion coins sourced from Canadian and U.S. mints. For a comprehensive view of their offerings, customers are encouraged to click the provided links.

BGASC is one of the largest coin and bullion dealers in the United States.

Buy Gold And Silver Coins.com's goal is to be the kind of dealer you've always wanted to trade with: to be in stock, ship fast, be fair and reasonable, and operate honestly and efficiently.

Every single package they ship is sent fully insured for its time in transit.

Customers all across the country have quickly come to recognize BGASC as one of the fastest, and most trusted online precious metals suppliers in the U.S.

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Free Shipping on Orders $199+

BBB - Customer Reviews

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Money Metals Exchange offers a range of platinum and palladium products tailored to meet investors' needs for this type of bullion.

Stefan Gleason is president of the Money Metals Exchange, which is a national precious metals investment company and news service with over 1,000,000 readers and 750,000 customers.

Gleason founded the company in 2010 in direct response to stop the abusive methods of national advertisers of collectible, and numismatic coins.

Money Metals Exchange believes the average investor should never purchase precious metals that are not priced at or near their actual melt value.

Now you can safeguard your assets from financial turmoil and the devaluing dollar – without paying costly middleman mark-ups or fending off high pressure, bait-and-switch sales tactics.

Savvy, self-reliant investors are embracing Money Metals Exchange as their trustworthy resource for gold, silver, platinum, and palladium bullion.

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The Royal Mint (U.K.) Delivery Rates

4.7 star - Customer Reviews

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Britain's Royal Mint primarily produces platinum bullion coins that they produce in-house.  Note: They periodically have platinum bullion bars available from their refinery. To check current stock, users should click on the "Popular Platinum bullion" link and then select the link for bars.

The Royal Mint is known as "The Original Maker" and has over millennia of experience in minting coins globally recognized for its designs and craftsmanship.

The Royal Mint strives to make the customer their primary focus by consistently improving their minting practices to make their bullion more appealing while protecting it from counterfeiters. 

Their bullion coins and bullion bars showcase the characteristics of British heritage, which is what makes them sought after by collectors and investors, worldwide. As the Original Maker, the Royal Mint is staying true to its roots while keeping its eyes on the horizon.

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Free Shipping on Orders $199+

4.8 star Customer Reviews

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As you can see from the wide selection of links above, SD Bullion provides one of the largest selections of platinum and palladium bullion.

Many of the links above could be like finding a diamond in the rough. These links are not commonly sought after, but to find that valuable piece, some scrolling and searching may be necessary. 

SD Bullion is a Precious Metals Dealer located in Michigan and is part of the Silver Doctor's network.

In 2011, two doctors started the website SilverDoctors.com with one dream: To educate the masses on the value of hard assets and preparation.

The rapid success of this website gave way to the launch of SDBullion.com in March of 2012. SD Bullion now is one of the most trusted, lowest cost online retailers of bullion.

Since 2012, SD Bullion has shipped more than 300,000 orders and hit Inc. Magazines list of 500 Fastest Growing Companies in the United States twice.

They did all this while staying true to their original mission of offering the absolute lowest prices on gold bullion and silver bullion in the industry, guaranteed.

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Free Shipping on Orders $199+

4.9 star Customer Reviews

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SilverGoldBull has tens of thousands of satisfied customers who have taken their financial future into their own hands by investing in gold and silver.

This bullion dealer is based in Canada and offers a wide variety of precious metals bullion for you to choose from, their commitment to you is to provide extraordinary service throughout your bullion buying experience.

SilverGoldBull provides you with competitive, up-to-minute pricing and we make sure your precious metals are delivered to your door discreetly and fully insured.
    
SilverGold Bull's in-house customer service representatives will work to assure your satisfaction in a timely, friendly, and professional manner. Never hesitate to get in touch - building relationships with our clients is our number one priority.

If you would like to learn more about what our customers are saying about our service, please view our customer reviews (below).

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Shipping prices

vary by item

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Note: Walmart sells bullion from various reputable dealers; it is advised to avoid items without a specified seller or shipper.

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Walmart - America's Superstore, offers a plethora of platinum and palladium bullion from the Top Online Bullion Dealers in the Industry; including: SD Bullion, APMEX, Scottsdale Mint, and more. 

Walmart's online marketplace allows these dealers to offer a wide selection of coins and bars that should meet any physical platinum and palladium investor's expectations.

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores in the United States, headquartered in Bentonville, AR.

Walmart’s core purpose is summed up in its mission statement and slogan: "We save people money so they can live better.”

Sam Walton famously remarked upon receiving the Presidential Medal of Freedom award in 1992 that, “If we work together, we’ll lower the cost of living for everyone…we’ll give the world an opportunity to see what it’s like to save and have a better life.”

Throughout its 50+ years of history, Walmart has stayed true to its purpose and consistently striven to offer low everyday prices to its customers, and because of this, Walmart has built for itself a strong and loyal customer base.

Low-price leadership is primarily achieved through Walmart's extensive network of suppliers, which allows them to purchase merchandise in bulk at lower prices than competitors.

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Gold, Silver, & Platinum
Bullion Brokers and 
Vault Storage

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4.7 star - Customer Reviews

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The video below goes into further detail about Bullion Vault's services. 

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4.8 star Customer Review

$100 Minimum to Open an Account

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OneGold gives you direct ownership of vaulted gold, silver, and platinum at an ultra-low cost. A free account will provide you with a platform that is easy to use and offers 24/7 access.

Quick Facts about OneGold

• U.S. based company
• Incorporated in 2018
• Trading 24/7 ~ 365 days a year
• Vaulted Precious Metals Storage in Multiple Locations
• Cash Withdraw after account is verified.
• Redemption in Physical Precious Metals is available.
• 3 Million oz (+) under Mgmt
• 4.8 star Customer Reviews

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