JOHANNESBURG – Investors seeking a haven from the economic turmoil created by the coronavirus pandemic are snapping up platinum coins engraved with African wildlife.
Over 2,000 coins featuring an elephant sold out to U.S. and Asian investors after being minted in March, according to Prestige Bullion. More will be produced once South Africa’s virus lockdown is lifted, said Richard Collocott, managing director of the Johannesburg-based company. Additional coins showing the rest of the so-called Big Five animals — lion, rhinoceros, leopard and buffalo — will be minted at six-month intervals.
“The platinum bullion coin has performed strongly with good levels of interest from customers, especially in the U.S. and Asia,” Collocott said. “The demand remains high and we expect to take orders once production resumes.”