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Alternative To Physical Metals

 
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Author Previous TopicReplies: 3 / Views: 431Next Topic  
Pillar of the Community

United States
3481 Posts
 Posted 03/19/2020  5:20 pm Show Profile   Bookmark this topic Add jimbucks to your friends list Get a Link to this Message
It seems none of the major metals dealers have physical Platinum available. What little that is out there is priced at crazy premiums. One alternative is to buy into the kitco pool funds. It's an easy way to buy and sell the metals...I've used it a few times over the years when unable to find the physical stuff abd it's pretty simple to use. Just go to kitco.com and go to the pools area. BTW I am not affiliated with kitco in any way.
Bedrock of the Community
Australia
16994 Posts
 Posted 03/19/2020  6:28 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Alternatives to PM's?
Obvious to me!
Numismatic items all the way.
Have done so for more than 50 years, and have never stopped learning. First love is ancients. Spent 2-3 years learning about ancients before buying my first one.

Yes, I do have some ounces of Platinum, but that stuff will go to my kids, when they need it.

Pillar of the Community
United States
3481 Posts
 Posted 03/31/2020  10:02 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Continue to buy platinum via the kitco pool. Physical Platinum supply continues to be dry or at huge premiums.
Pillar of the Community
United States
5854 Posts
 Posted 04/04/2020  12:06 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply
I just want to make a note that kitco pools say that they are unallocated accounts. It means that there could be some credit risk if there is insufficient precious metals set aside to back all the accounts. There is nothing wrong with taking on credit risk as long you understand it. Given the bid/ask spread, transaction fees, and premium to take physical delivery, I would probably either invest through an etf that is fully backed by physical metal, or buy the etf as a placeholder for now and switch over to physical later when premiums are lower. Bid/ask spreads for precious metals etfs are tiny compared to the pool accounts. The one potential benefit of using the pool account over the etf, if you eventually intend to own physical metals, may be its tax efficiency. There may not be a taxable event to take physical delivery from the pool account but there might be with selling the etf reinvesting in physical bullion. Make sure to consult with a tax professional doing either transaction.
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