Platinum has a much shorter history in the financial sector than either gold or silver, which to ancient civilizations. Platinum is relatively scarce even among the precious metals. New mine production totals approximately only 5 million troy ounces a year. In contrast, gold mine production runs approximately 82 million ounces a year and silver production is approximately 547 million ounces. As such, it tends to trade at higher per-unit prices. Platinum trades on the New York Mercantile Exchange and the London Platinum and Palladium Market. To be saleable on most commodity markets, platinum ingots assayed and hallmarked in a manner similar to the way gold and silver are. Platinum price changes along with the platinum supply and demand. During periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold, whereas, during periods of economic uncertainty, the price of platinum tends to decrease because of reduced demand, falling below the price of gold, partly due to increased gold prices. Platinum coins are another way to invest in platinum, although relatively few varieties of platinum coins minted, due to its cost and difficulty in working. Since 1997, the United States Mint has sold American Platinum Eagle coins to bullion investors. Most Swiss banks offer platinum accounts where platinum bought or sold just like any foreign currency. Unlike physical platinum, the customer does not own the actual metal but rather has a claim against the bank for a certain quantity of metal.
The Judicial Commission of New South Wales is a statutory corporation that provides continuing education to and examines complaints made against judicial officers in New South Wales, a State of Australia. The commission is headed by the Chief Justice of New South Wales and consists of the heads of each of the major courts in New South Wales plus community representatives. The commission is the only body of its type in Australia. Similar bodies are in existence in Canada, India and the United States. The work of the commission is split into two distinct areas. The first is a conduct division which deals with complaints about judicial officers. The other area is the educative function, which provides information on sentencing information, legal development and ongoing training for judicial officers. The commission marked a significant change in the legal system in New South Wales. It restored public confidence in the judicial system which had been rocked by a serious of scandals and allegations of misconduct in the early 1980s. The commission eliminated the political process from the removal of a judge from public office. Judges were no longer subject to the whim of the government of the day in whether they could be removed from office. Instead, the commission now provides a means outside of politics for the dispassionate consideration of misconduct by judicial officers. As one present judge has suggested, the commission has actually improved and safe-guarded independence of the courts. The model for a judicial commission has received support for introduction elsewhere in Australia.
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