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Bought Some More Platinum Since Price Remains Low

 
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Pillar of the Community
United States
5050 Posts
 Posted 08/13/2019  12:49 am Show Profile   Bookmark this topic Add Jaobler to your friends list Get a Link to this Message
I don't understand why the spot price of platinum remains so low. For much of its commercial history platinum was valued higher than gold (around 8X as much back in the 1920s). Platinum has also until recently been much more costly than the similar noble metal palladium. As of today gold is at $1510/oz, palladium is $1413, and platinum languishes at $855.

Since it seems like a bargain I bought two 1-ounce Pt pieces: a Maple Leaf and a Swiss "shooting thaler." The Swiss piece is a very attractive proof. I notice that the Canadian coin appears heavily hairlined but that seems to be the way these are made. The hairlines are only in the fields and don't cross the devices. The Canada 1-ounce palladium coin I bought back in 2005 (for just $259!) has similar striations.

I don't see much chance that the values will go down from here so hopefully I made a good choice. Lovely pieces, anyway!






Bedrock of the Community
Australia
15759 Posts
 Posted 08/13/2019  03:02 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
There was a time when Pt had a higher price than any other precious noble metal.

I bought a 1 ounce reverse proof Pt Koala for US $375, in 1998. Still have it.
It is the only purely bullion coin in my collection.

The main reason I bought it, is that Pt was only precious coinage metal, that was not represented in my collection.
The Russian 3, 6 and 12 Roubles have always been too pricey for me to acquire.
Pillar of the Community
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United States
3747 Posts
 Posted 08/13/2019  06:19 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
The values of PM's are pushed wherever "they" want them to go.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Bedrock of the Community
United States
16872 Posts
 Posted 08/13/2019  3:15 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Any reason not to choose the U.S. version?
Pillar of the Community
United States
5050 Posts
 Posted 08/13/2019  9:22 pm  Show Profile   Bookmark this reply Add Jaobler to your friends list Get a Link to this Reply

Quote:
Any reason not to choose the U.S. version?

My local shop almost never has platinum but this time they had these two pieces. This shop has been good to local collectors and the price was competitive so I was happy to give them the business. I wanted to get over the $1500 CA sales tax exemption so I bought both.

Also, I already have a platinum eagle. Variety is good!
Valued Member
Canada
75 Posts
 Posted 08/14/2019  1:54 pm  Show Profile   Bookmark this reply Add CanadaPennies19 to your friends list Get a Link to this Reply
Gorgeous Canadian ML!!
Bedrock of the Community
United States
17464 Posts
 Posted 08/15/2019  10:54 am  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
That Swiss piece is a great looking design.
Bedrock of the Community
Australia
15759 Posts
 Posted 08/16/2019  03:23 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I think it is correct intuition to buy some Pt bullion right now, due to it's low price, relative to the gold price. Some commentators put the current high gold price down to World economic uncertainties. That will change for the better in a couple of years.

Since I bought my one ounce Pt bullion Koala in 1998, the value has compounded at an average of 4.4% per year over 21 years in Australian Dollar terms.
Inflation over the same 21 year period has averaged 3.5 %.
That is a profit of 0.9% in nett real terms per year, for the 21 year period.
In 1998, the gold and the Pt prices were nearly the same.

The stock market although far more volatile, has done much better that this.
My self managed superannuation fund, despite paying taxes along the way, has also far out performed the growth in the Pt bullion price.

Nevertheless, it is still prudent to invest about 5% of your total investment portfolio in (bullion numismatic items, artworks, etc.), whatever takes your fancy, and you understand investment principles of these items.

If you don't, then it's really just a lottery.
Pillar of the Community
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United States
3747 Posts
 Posted 08/16/2019  8:00 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Four and a half percent is not shabby!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Bedrock of the Community
United States
17464 Posts
 Posted 08/25/2019  2:34 pm  Show Profile   Bookmark this reply Add IndianGoldEagle to your friends list Get a Link to this Reply
Gold is money, platinum is not.
sel_69l, what has the appreciation been for gold since 1998, I'll bet far better than Pt.
Pillar of the Community
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United States
3747 Posts
 Posted 08/25/2019  6:46 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Gold used to be money.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Valued Member
United States
483 Posts
 Posted 08/25/2019  6:55 pm  Show Profile   Bookmark this reply Add everything to your friends list Get a Link to this Reply
Platinum sounds like a great hedge against your other coveted metals, and good diversity for your PM investment. Buy what's cheap now, just don't go all in on any one thing and spread risk, sleeping good at night is a beautiful thing.
Bedrock of the Community
Australia
15759 Posts
 Posted 08/25/2019  7:51 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Since 1998, gold has performed better than Pt, but that only is in consideration of their current relative prices.

Personally, that matters to me very little, because my numismatic gold coin holding of around 40 coins, is much greater than my bullion Pt holding, which consists of one coin only.


Nevertheless, Pt has it's place in numismatic history via the Russaian 3, 6, and 12 Roubles of the 1830's and 1840's.
That is one of the reasons why I bought a one ounce Pt bullion coin. The Russian coins are as near as next to being unobtainable.
Pillar of the Community
Canada
992 Posts
 Posted 09/02/2019  10:49 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply
Platinum is platinum. More precious and more scarce than gold. I have no problem justifying buying it when it lags so far behind gold in dollar value. Tuck it away somewhere, and at some point in the future you'll be glad you did. Palladium has been the real PM star of the last 10 years or so.
Valued Member
United States
302 Posts
 Posted 09/14/2019  11:46 am  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
IMO, there is no doubt that platinum is way undervalued at this point. As you already know, except in the recent past, platinum for many years was hundreds more per oz. than gold. It seems to be at an almost giveaway price now.

So, personally, I have been buying it whenever possible. to quote the classic quotes, platinum was at around $1,900 at its highest years ago. Knocking off a thousand bucks currently, platinum seems almost like a steal at today's prices. Then again, I never had the foresight to imagine that palladium would take such a huge jump in recent years.

mike
Pillar of the Community
Canada
3666 Posts
 Posted Today  5H 41M ago  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
Aluminum used to cost more than gold in the medieval ages. Back then it was newly discovered and rare. One day we'll get slapped by a nice space-rock full of precious goodies.

Platinum in the jewelry industry commands a heavy premium because the tooling involved is specialized and costlier and must be kept separate from other tools. Platinum is at a "discount" right now but the labor that goes into it is the most expensive part. The cost of tools never go down, always up, and the quality suffers as well, like trimming the product count or volume. Premium tools have nearly doubled in price in 5 years. Part of the reason for this is that most of the good tools are made in the USA, and right now the US dollar is strong compared to the Canadian dollar. Precious metals are priced in US dollars. I'd say that if you live in the USA, in a state with no bullion taxes, and you fare well for yourself and kin, that you can afford to hold a single 1 ounce bar and be very comfortable that it's not a very volatile metal.
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