1/10 oz Pobjoy Mint Noble Platinum Coin

The World's First Platinum Bullion Coin in Fractional Form

The 1/10 oz Platinum Noble holds a unique place in bullion history. It is a fractional denomination of the Isle of Man Noble, the coin that introduced platinum to the investment market in November 1983. No other mint had struck platinum specifically for investors before the Noble appeared, predating the Canadian Platinum Maple Leaf by five years and the American Platinum Eagle by fourteen.

The 1/10 oz size was produced in extremely limited quantities. The bullion version saw just one year of issue in 1985, with a mintage of 99,000 coins. Proof versions followed in 1986 and 1987, but these were collector pieces rather than bullion products. This scarcity means surviving examples carry premiums reflecting both their platinum content and their historical significance as pioneering fractional platinum coins.

For buyers considering this coin today, the practical reality is that it trades on the secondary market only. The Pobjoy Mint ceased regular Noble production after 1989, and later intermittent strikes by other mints have not revived the 1/10 oz denomination in meaningful volume. The coin's appeal is strongest for collectors who value its status as the first platinum bullion coin ever minted, combined with genuine rarity that most modern fractional platinum coins cannot match.

The 1/10 oz Noble contains 3.11 grams of .9995 fine platinum, the same purity standard adopted years later by every major platinum coin programme. Its Viking longship reverse design, referencing the Isle of Man's Norse heritage, remains unchanged from the original 1983 issue. The coin has no stamped face value; like the Krugerrand, its legal tender value on the Isle of Man is determined by its precious metal content.

1/10 oz Platinum Noble Technical Details

The 1/10 oz Noble shares its .9995 purity with all major platinum coin programmes that followed it. At 17.0 mm diameter, it is comparable in size to the 1/10 oz American Platinum Eagle (16.5 mm) and the 1/10 oz Platinum Philharmonic (16.0 mm). Its slightly larger diameter reflects the design conventions of 1980s bullion coinage.

The coin's reverse features a Viking longship under full sail with seabirds above, surrounded by a Viking knot border. The Isle of Man's triskele (three-legged coat of arms) appears on the ship's flag. The obverse carries a portrait of Queen Elizabeth II, with the specific portrait varying by year of issue.

1/10 oz Platinum Noble Tax Treatment

The Noble's tax position is complicated by the Isle of Man's status as a British Crown dependency rather than part of the United Kingdom. This distinction affects CGT treatment in particular.

United Kingdom

Platinum coins are subject to 20% VAT on purchase in the UK. Platinum does not receive the VAT exemption that investment gold enjoys. The Noble is not CGT-exempt in the UK because CGT exemption applies only to coins that are legal tender of the United Kingdom with a face value denominated in sterling. The Noble is legal tender of the Isle of Man, not the UK, and has no sterling face value. Both VAT and CGT apply, making this a less tax-efficient choice than the 1 oz Platinum Britannia for UK investors.

United States

The Noble's .9995 purity meets the IRS threshold for platinum IRA eligibility. However, actual acceptance depends on the individual custodian's approved list. Not all custodians include the Noble given its limited availability and secondary-market-only status. Capital gains from platinum sales are taxed at the collectibles rate of up to 28%.

Isle of Man

The Isle of Man has no VAT on investment platinum and no capital gains tax. Residents purchasing and holding on the island face no tax burden on either acquisition or disposal.

Other Jurisdictions

• Canada: GST/HST exempt at .9995 purity (exceeds the 99.5% threshold)
• Australia: GST-free for investment-grade platinum (meets 99%+ requirement)
• Singapore: GST-exempt as Investment Precious Metal at 99%+ purity
• Hong Kong: No sales tax, no import duty, no CGT
• EU: Standard VAT applies (19-27% depending on country); no platinum investment exemption

Noble vs Modern 1/10 oz Platinum Coins

The 1/10 oz Noble competes in a different segment than most fractional platinum coins. Its discontinued status and single-year bullion mintage place it closer to the semi-numismatic market than to current-production bullion. Buyers choosing between the Noble and modern alternatives are weighing historical significance against liquidity and availability.

The 1/10 oz American Platinum Eagle was the primary fractional platinum coin for US investors until production was discontinued in 2014. It carries a $10 face value, .9995 purity, and strong IRA eligibility. Like the Noble, fractional Platinum Eagles are now secondary-market coins, but with substantially higher surviving population and better dealer recognition.

The 1/10 oz Platinum Philharmonic from the Austrian Mint is one of the few fractional platinum coins still in production (launched 2016). It offers .9995 purity, a EUR 10 face value, and current-year availability. For buyers seeking a regularly produced fractional platinum coin, the Philharmonic is the more practical choice.

The Noble's advantages are historical: it was first, its mintage is genuinely low, and it represents a milestone in platinum coinage. Its disadvantages are practical: limited dealer familiarity, uncertain IRA acceptance at some custodians, narrow secondary market, and the 20% VAT plus CGT exposure for UK buyers. Modern fractional platinum coins from the US Mint, Austrian Mint, or Royal Mint offer better liquidity and clearer tax treatment at the cost of having no historical rarity value.