The legal team at the United Precious Metals Association is actively reviewing the feasibility of offering platinum accounts to the membership. The U.S mint has been producing a one ounce platinum coin nearly every year since 1997. This is important because in order to be functional for a UPMA style account the coins shouldn’t vary greatly in value.

The platinum eagle has a face value of $100 per ounce as opposed to the $50 per ounce for gold. This means that platinum dollars on the UPMA system would be by far the least expensive, possibly starting around $10 per platinum dollar if not less depending on the market at the time of the offering.

One important aspect to consider is whether or not the Platinum Eagle has the exact same status as the Silver Eagle or Gold Eagle since it is not explicitly mentioned in the Constitution. At worst it may be that UPMA members receive a disclaimer of sorts when attempting to transfer platinum to other accounts.

Currently the website is having bugs and other issues getting fleshed out. These accounts may not be available until the summer if at all. It remains to be seen if UPMA can feasibly offer a 0% buy/sell spread on Platinum accounts as well or what the vaulting will end up looking like. It isn’t unlikely though that Platinum will appear as a new option for members in the coming months assuming it passes legal review.