Particles each of which consists of an inorganic polyvalent metal compound as a nucleus and a coating of a metallic soap of the polyvalent metal coating the nucleus (coated particles); products and preparation processes using the particles; a lubricating coating forming agent wherein particles each of which consists of a polyvalent metal salt of phosphoric acid as a nucleus and a coating of a metallic soap of the polyvalent metal coating the surface of the nucleus are suspended in an aqueous solution of a water soluble inorganic salt and/or a water soluble organic acid salt; and a lubricating coating. The coated particles are novel particles which can be used as an ingredient of coating-type lubricating coating; are excellent in seizure resistance; can inhibit wear of tools at the time of plastic working since the friction coefficient of the surface of the particles is low; and are slow to cause pollution of working oils. Lubricating coating obtained by applying the lubricating coating forming agent onto the surface of a metallic material gives excellent cold plastic working properties, namely lubricity and seizure resistance to the metallic material.