Some individuals who knows little to nothing about treasures hidden in the Philippines would curiously ask how platinum are being found in the country. In fact, platinum cannot be mined in the Philippines.
The main reason why some treasure hunters in the Philippines were able to recover precious platinum objects was due to the JIA (Japanese Imperial Army) who looted them in WW2 from various foreign countries. And then, they brought it in the Philippines. So in short, platinum are just one among the valuable items hidden by the JIA considered by many as the “Yamashita Treasure”.
Where can you Sell Platinum in the Philippines?
Platinum recovered by most treasure hunters in the Philippines comes in the form of bars. There were also a few reports that comes in spherical or ball shapes. But the main issue about this items is about, where exactly can you sell them legitimately?
Buying or selling platinum just like gold which involves risk especially when the item is claimed that it came from a recovered treasure. You have to know that scammers can always take advantage to either steal your items or money.
Since our community is composed of treasure hunters, we are on the seller’s side. So if it happens that we got scammed, we lost our items. My best advice is not to dispose all items in one go. Assuming that you got 20 pieces of platinum bars, you can sell them one at a time.
Finding a legit platinum buyer can be a bit challenging since it is a very rare type of commodity here in the Philippines. As already stated above, this metal cannot be mined where its only source is from recovered treasures.
As a treasure hunter myself, my team had also recovered one piece of an egg-shape and size of platinum mixed along with old silver coins. The silver coins were so easy to dispose but not the egg-shape platinum. There were some interested buyers who contacted us and they inspected the item but only to disappoint us that themselves cannot confirm if the item was an authentic platinum or not.
Fortunately, I had shown the item to some of my fellow friends overseas where they finally found a buyer who decided to buy it for a fair price based on the international market price of platinum at that period of time.
Testing platinum especially by manual methods can really provide an inaccurate result. This was probably the reason why local buyers here in the Philippines had their doubts when they inspected our item. As for the foreign buyers, they have a machine that can analyze any kind of metals at 90 to 99 percent accuracy.
2 Ton of Platinum Recovered in Cagayan
There was a Japanese treasure hunter who excavated a site somewhere in Cagayan province. It was on the month of May 1993 when the hunter reached a depth of 70 feet under the ground. At this depth, he was able to recover the platinum deposits.
Velasco is the only person who witnessed the excavation and the main source of this information. He lives in “Lallo, Cayagan” which is just 250 miles away from the northeast portion of Manila. He was really surprised when the Japanese treasure hunter entrusted him the items for safekeeping.
In my own personal opinion, those platinum were not the only deposits recovered by the Japanese treasure hunter. There were probably gold and many other items. As far as I know, Japanese treasure hunters often target large deposits only. Thus, those palladium claimed by Velasco entrusted to him by the Japanese treasure hunter was probably his own share. There could be a misunderstanding where he thought of safekeeping it.
If it was for safekeeping then they should already came back for it right away because that’s an incredible amount of wealth. According to the government agents who seized the items, there were 2 tons of platinum equating to an amount of 26 million dollars. If Velasco only knew what to do with them then he could be living a life of a very wealthy man today.