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 Replies: 18 / Views: 2,266 |
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Pillar of the Community
United States
4541 Posts |
I think it has to do also with the fact they use platinum for industrial uses if I am not mistaken... So with everything going to crap no one is buying platinum b/c everything is at a stand still.. But if you have the money to get some go for it  |
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Pillar of the Community
Australia
3831 Posts |
No, platinum supply will increase when the politics in Zimbabwe is over, supposedly in increase of about 15%+ of CURRENT supply in the next 5 years. This is a significant figure. On the other hand other platinum group metal such as rhodium, iridium etc are more interesting as there are no other new sources found.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Pillar of the Community
United States
812 Posts |
I've read that 60% of mined platinum is used in automobile manufacturing. I think the downturn in the auto industry is the reason for the current drop in price.
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New Member
Canada
30 Posts |
be carefull the price of gold might drop to even everything out.
I bought Silver, some not a lot. They convinced me it was protection against inflation.
But I started thinking after I bought them I got suckered.
If the dollar drops in value then silver will be worth more. But so will everything else. Silver costs 10x the price, but so does bread.
I belive it is a suckers bet. I bought 40 silver candian maples the other day. 3.55 over spot. I figured if they are going to refine it, make sure it is pure, melt it down and make the coins I can pay 3.55
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Pillar of the Community
United States
5318 Posts |
And, if US banks/credit freeze up, people may need to sell their metals to stay liquid.
This is very hard to predict, and I offer none.
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New Member
Canada
30 Posts |
price of silver droped tons today. whoops lol
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Pillar of the Community
United States
5318 Posts |
Wow...look at that, silver dropped below $10!  Edited by KurtS
10/10/2008 4:16 pm
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Moderator
 United States
16679 Posts |
Buy silver & stocks!
swcoin.ecrater.com
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Pillar of the Community
United States
5318 Posts |
brave man, you.  |
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Pillar of the Community
 United States
5953 Posts |
Can't buy silver at anything like Spot. Cashed in some Gold Jewelry today from MD'ing. The cheapest Silver was 1,000oz bar at $1.75 over spot per oz. Eagles were $5 over spot no 10oz bars to be had and 100oz bars were $3.00 per oz over spot.
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Valued Member
United States
294 Posts |
Stupid question. Since the US no longer has a gold based economy (no gold in Fort Knox  ). Who is buying up all the melt gold and were did our gold go? Seeking:who's hording the gold? Rainman |
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Valued Member
United States
64 Posts |
I think that by this time next week silver may be at 5.00 a oz and gold at 550.00 a oz. Give or take a little bit on those prices.
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Pillar of the Community
United States
5953 Posts |
Spot prices are no longer relevant to actual prices. If you can find some one to sell to you at spot you are a very lucky person. Just take a look at closing prices on ebay for bullion 10oz and 100oz bars. they will give you an idea of the actual price of silver. 6 months ago you could buy on ebay for spot or just under. Even Kitco is paying $1.35 over spot for Eagles and maple leafs. Until the time when Comex actually has to deliver its product the paper price cannot be trusted to have any relevance to the actual price. |
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Pillar of the Community
United States
2734 Posts |
How silver prices should be considered: "Spot Price" = A 'Silver Futures' price. In other words, what a 'paper' one troy. oz. silver 'share' is worth. "Physical Silver Price" = Check ebay and your local bullion dealers  NO surprise to me that the 'spot' price is so low: Brokers right now are selling their Gold and Silver Futures (notice that I said futures, not physical metals!) to pay their margin calls in a plummeting market. Once that's done with...... Edited by DNA
10/10/2008 9:41 pm
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Pillar of the Community
United States
2335 Posts |
In the past I have bought metals from Hannes Tulving. He's out of most types of silver, but does have some 1000 oz bars for sale at spot +.79. I think at that level shipping is free.
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Posted 10/09/2008 01:32 am
