GOST R 51704-2001 Platinum ingots. Specifications

If you decide to invest in precious metals by purchasing ingots, then the capacious concept of an ingot, as a cast metal billet for further processing, which the encyclopedia gives, will clearly not be enough. This article covers questions regarding bank gold bars: what kind of gold bars there are, the requirements of Russian standards for gold, silver, platinum and palladium bars, types of bars according to production technology.

In addition to these precious metals, according to the federal law “On Precious Metals and Stones”, precious metals include the platinum group metals: iridium, rhodium, ruthenium and osmium. But in Russian banks the range of bullion is presented only in four well-known metals, and even then not always. We will consider them in this article.

Precious metal bars are standard and measured bars manufactured at Russian refineries and comply with state and industry standards of the Russian Federation, as well as foreign-made bars that meet international quality standards established by The London Bullion Market Association (LBMA) and participants in the London Platinum and Palladium Market (LPPM).

Each ingot must meet government and industry standards. Russian GOST standards for standard and dimensional ingots are different. If the ingot does not meet the established standards, it is sent for remelting by the refinery manufacturer.

4.1. Main parameters and dimensions

4.1.1. The dimensions and designations of the ingots are given in Table 1.

Table 1 - Designations, dimensions and mass of platinum ingots

4.1.2. The shape of the ingots must comply with Appendices A and B.

Standard gold bars (silver, platinum, palladium) and their purity

Standard bars are precious metal bars manufactured and marked by Russian (until 1992 - Soviet) refining organizations in accordance with current state and industry standards, which have the following weight and fineness denominations:

For clarity, I will provide images of products of OJSC Krasnoyarsk Non-Ferrous Metals Plant named after V.N. Gulidov", as well as their denominations of mass and fineness:

Gold in standard bars, GOST 28058-89. The content of the main component is 99.99%, the weight of the ingots is from 11.0 to 13.3 kg.

4.2. Characteristics (properties)

4.2.1. The chemical composition of platinum in ingots must correspond to that indicated in Table 2.

Table 2 - Chemical composition of platinum in the ingot

4.2.2. The surface of the ingot must be free of grease, film, cracks, shells, delaminations, burrs and foreign inclusions. The reverse side of the ingot can be made matte.

4.2.3. The mass of ingots and maximum deviations from it must correspond to Table 1.

Other questions about platinum

Is there a $100 coin?

Exists: This is a platinum American Eagle coin. These coins contain one troy ounce of pure platinum and have been minted by the United States Mint since 1997.

Platinum American Eagle coins are available from coin dealers and some banks.

What metal is the most expensive in the world?

Is platinum the rarest metal? No.

Close, but not quite. The honor of the rarest and most expensive metal in the world currently belongs to rhodium. It is a silver-colored metal that is used in the automobile industry and several other industries.

What is platinum used for today?

Platinum has many uses and is commonly used in automotive catalytic converters, jewelry, medical devices such as stents and catheters, some chemotherapy drugs, electronics, sensors, and many other applications.

Is platinum better than diamond?

“Better” is a matter of perspective. When it comes to investments, both platinum and diamond have their own advantages and disadvantages. However, when measured on a per-gram basis, platinum is much more affordable than diamond and can benefit from many market factors, including widespread use in a variety of growing and developing industries.

Can platinum turn black over time?

Platinum cannot spontaneously turn black under normal storage conditions. However, you can artificially change the color of platinum to black using hydrogen gas, ammonia, or hydrochloric acid. This is not something we recommend you try.

Why is gold preferred over platinum?

People are familiar with gold, which has been valued as a precious metal for over 5,000 years and has countless artistic, recreational and industrial uses. People became acquainted with platinum only in the 19th century. It is a much rarer metal, although it is being used more and more in industry. However, it is not true to say that all people prefer gold to platinum.

What's so special about platinum?

Platinum is a white metal similar in appearance to silver, but it does not tarnish or discolor as silver often does. In addition, platinum is quite dense and stronger than gold, but at the same time quite ductile. It is a fantastic catalyst, making it ideal for applications such as the automotive industry.

Why is platinum so rare?

Platinum occurs naturally in relatively small quantities and is primarily obtained as a by-product from the mining of other ores such as copper and nickel. All the platinum ever mined in the world could fit in a typical American home. The continued demand for platinum makes it even more rare.

Where is platinum found?

Platinum occurs naturally in many different countries around the world, including Canada, the United States, South Africa and Russia.

How long do platinum rings last?

They may last forever, but that's not the only thing about platinum rings. Since platinum does not change color under normal conditions, platinum rings will not change color like rings made from other precious metals.

Why is platinum better than white gold?

Platinum is a natural and pure metal, while white gold gets its color from the artificial addition of silver or palladium. Additionally, platinum, as mentioned earlier, does not change color under normal conditions and use.

Is platinum more shiny than white gold?

Platinum typically has a brighter color than white gold and will not fade over time.

Is platinum better than rhodium?

Both platinum and rhodium have their advantages. However, although rhodium is the most expensive and rare metal, platinum is still much rarer than many other commonly traded metals. However, it is easily obtained in the form of a coin, round or bar - an excellent means of investing in the physical metal.

Which is better, titanium or platinum?

Both titanium and platinum appear similar in color, but titanium is much stronger than platinum, lighter in weight, and less expensive. This gives titanium an advantage for many industrial applications, including the construction of objects such as aircraft, tennis rackets and prosthetics. But platinum is the best catalyst, it is extremely dense and from an investment point of view it is much rarer than titanium.

Is platinum stronger than white gold?

Platinum is denser and much purer than white gold, and in certain applications such as jewelry, wears much less over time. While white gold can tarnish over time and lose the plating that gives it its white color, platinum is pure and platinum jewelry will never need to be replaced over time.

Does platinum rust in water?

Platinum does not contain iron and does not rust, including in water. But can platinum even rust? No - again, platinum does not contain iron, so it will not rust.

Is platinum good for your health?

Platinum has antioxidant properties and is used in various drugs, chemotherapy and other health-related products.

How much platinum is left in the world?

There are different estimates, for example Statista states that there are about 70,000 metric tons of platinum in the world, of which 95% is found in South Africa.

4.3. Marking

4.3.1. The marking is applied to the front side of each ingot and must contain:

— the inscription “RUSSIA” located in an oval;

— nominal weight of the ingot, g;

— name of the metal — “platinum”;

— mass fraction of platinum in samples;

— trademark of the manufacturer;

— number (code) of the ingot.

4.3.2. The order of markings on the ingot is given in Appendix A.

Notes

. By agreement with the manufacturer, the details on the front side of the ingot can be made in English according to the application. On ingots weighing 100 g or less, the inscription “MELTER ASSAYER” may not be applied as agreed with the customer.

. The customer's trademark or other symbols agreed with the manufacturer may be applied to the front or back of the ingot.

4.3.3. The marking of the ingot must be clear and legible. Corrections of markings and merging of letters and numbers are not allowed. The imprint of the marking text on the ingot must be convex.

The ingot number is set by the manufacturer and is marked with a metal stamp. It, like other markings (applications and), can be applied by laser or other methods.

Note - By agreement, the number of an ingot weighing 100 g or less can be printed on the reverse side.

Russian factories included in the Good Delivery list

In world practice, standard ingots of precious metals of very good quality, with high purity and the mark of repeatedly tested reputable refining enterprises LBMA and LPPM are assigned the status of Good Delivery, which allows the products of the enterprises to be highly valued and enter the international precious metals market.
The Good Delivery list includes more than 55 companies from 28 countries for gold, 68 companies from 27 countries for silver, 30 companies from 10 countries for platinum and 23 companies from 9 countries for palladium.

Good Delivery status for precious metal bars has been assigned to the products of the following enterprises of the Russian Federation:

Contents of the bullion certificate

Casting or stamping

Precious metal bars differ in production technology.

A stamped ingot is made by pressing a stamp onto heated metal. Such an ingot has an ideal smooth surface and is more attractive in appearance than a cast one. Because The production of stamped ingots takes place using high-tech equipment, which means production is accordingly more expensive, but these ingots are more liquid. Typically, stamped ingots weigh no more than 500 grams.

Cast ingots are made by pouring molten metal into prepared molds. The mass of cast ingots is usually more than 500 grams. In terms of production cost, cast ingots occupy an intermediate position.

Powdered ingots are ingots formed from precious metal powder electrolytically. Such bars are the cheapest in terms of production, but Russian standards do not provide for such an option for the execution of bars and they are very rarely found in Russian banks.

According to the standards, Russian gold and silver bars can be produced in cast and stamped versions, platinum and palladium bars can only be produced in stamped versions, and standard bars are always cast.

Rosselkhozbank offers services for opening current bank accounts in precious metals in gold, silver, platinum and palladium, as well as for the sale and purchase of precious metal bars. It is possible to establish individual quotes for operations and transactions

Opening of compulsory medical insurance for palladium

This procedure for opening an account is very simple, all you need is:

• find information about which bank branch provides this service;
• At the bank, contact the employee who is involved in this and find out all the conditions for opening compulsory medical insurance;
• indicate the amount required for an official investment in metal;
• sign the agreement;
• use cash or a personal card to make a payment to this financial institution.

You must keep a copy of the agreement, as it contains all the bank’s conditions and personal account number.

If you have a card from this bank, it is possible to open an Unallocated metal account via the Internet. To perform this action, you need to go to your own section of the metal account and where the palladium is located, its value in Sberbank is indicated. Next, you need to fill out the application, indicating the data in special lines.

After the application has been reviewed, a bank specialist will contact you and inform you of the time at which you need to go to the bank branches to sign a special agreement.

The financial organization has all the information that is directly related to the sale and cost of this precious metal. Information is also available on the price rate of palladium not only for today, but also for other time periods.

Palladium price trend and quotes

With changes in value, as well as valuation changes, precious metals accounts change depending on the direction originally assigned. This type of deposit can be compared to playing on the financial exchange, but there are differences in a number of advantages.

For example, there is no need to constantly monitor the course, there is also no need to personally collect and analyze all the information, and there is no need to pay for the work of professional experts in this field.

On the bank's website it is possible to track all palladium quotes; to do this, you need to go to the appropriate tab on their official website. It is worth keeping in mind that the estimated value of the metal can change 1-2 times per day. An advantage is the fact that with the long-term option, the exchange rate is constantly growing, which ultimately leads to profitable investments.