Platinum Price in Pounds Today

London is the global centre of platinum pricing through the London Platinum and Palladium Market (LPPM), which administers the twice-daily benchmark auction used as the reference price by miners, refiners, and industrial consumers worldwide. The LPPM also maintains the Good Delivery List, the internationally recognized standard for platinum bar quality, requiring a minimum purity of 99.95%.

London's centuries-old role in precious metals trading gives the UK an outsized influence on global platinum market infrastructure.

The Royal Mint produces the Platinum Britannia, a 1 troy ounce .9995 fine platinum bullion coin featuring the iconic Britannia design. Introduced in 2017, the coin carries a face value of 100 pounds and is legal tender in the United Kingdom. The Royal Mint also periodically issues commemorative platinum coins and bars in various sizes, all manufactured to exacting standards at its facility in Llantrisant, Wales.

Johnson Matthey, the UK-based speciality chemicals company, has been central to the platinum industry for over a century. As a leading PGM refiner and technology company, Johnson Matthey publishes the annual PGM Market Review, widely regarded as the most authoritative analysis of global platinum supply and demand. The company's expertise spans autocatalyst manufacturing, fuel cell technology, and pharmaceutical applications of platinum group metals.

A significant consideration for UK platinum investors is the 20% VAT applied to all physical platinum purchases, including bars and coins. This tax does not apply to investment gold, creating a competitive disadvantage for physical platinum. To avoid this burden, many UK investors turn to platinum ETFs such as WisdomTree Physical Platinum (PHPT) on the London Stock Exchange, which provide price exposure without triggering VAT.