How to Buy Platinum Shares
Unlike silver and gold, platinum is a precious metal that does not have a wide following or extensive news coverage. Besides use in the jewelry industry, platinum has a wide range of industrial uses, including anti-pollution devices and in oil refining. Historically, investing in platinum was limited to large investors and hedge funds. New investment products now make the precious metal available to individual investors.
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Instructions
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1
Open an account with an online stock broker, such as E*Trade or Charles Schwab, if you do not already have a stock brokerage account.
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Fund the account with the amount of money you want to invest in platinum shares.
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Use the market quote screen of your broker account website to look up the current price of the ETF's Physical Platinum Shares. The symbol for this ETF is PPLT.
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Calculate how many shares of PPLT you want to buy by dividing your investment amount by the current share price and round down to a whole share amount. For example, $5,000 divided by PPLT shares at $165 results in 30.3 shares. Round to 30 whole shares.
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Place a market order for the shares of PPLT using the online broker's order screen.
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Tips & Warnings
Each share of PPLT represents approximately 1/10 of an ounce of physical platinum.
Remember to add the commission to buy and sell the platinum shares into any return calculations.
Any investment, such as platinum shares, should be thoroughly researched before any money is invested. There is a significant possibility of loss on this type of investment.
