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 Replies: 15 / Views: 1,749 |
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Rest in Peace
United States
9104 Posts |
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Valued Member
United States
89 Posts |
Yes I been buying platinum myself, the problem is it is very hard IMO to find platinum coins (other eagles) that are sold around spot price. Part of problem a lot of guides' still price platinum at its previous spot price highs' ($1800) and people use that as a guide when bidding online.
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Pillar of the Community
United States
3670 Posts |
I think the rare factor is what keeps them after platinum. Humans minds are designed to take greater appreciation in real nice things that you can not find many examples of....
My dad bid 1710 bucks the other night on a wooden 100 plus year old ultra rare fishing lure bait box, and the item sold for 2200 plus. My dad has the bait for it, the guy who bought it does not. They are both pipe dreamin about piecing the set together, but my dad figured out who bought it via feedbacks, and was able to acquire the buyers info. So here in 6 months to a year, he will send that guy a message an try an get it from him, as he said he would never see another example of either before he dies.....
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Valued Member
United States
318 Posts |
Platinum has an interesting use as an industrial metal. Catalytic converters being the major use. Ford got into a pissing match with Russia over the affair and lost a Billion dollars. $50 of every car with a cat conv. is tied up in the platinum itself. Ford dumped some money into R&D and figured out how to make cars w/o the platinum for the cats.
I think it's a novelty metal that is in a bubble. I want to own a little for the fun factor, but for goodness sake don't pour your life savings into it.
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Rest in Peace
 United States
9104 Posts |
Locally, some guy figgered there would be a mess of platinum in a new car lot. He's getting lots of time to recalculate his profits.
]If you see a car in a parking lot or on the street with someone under it, call the police. Yeah, they may be fixing the brakes, but a sawzall is a quick way to remove a muffler.
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Pillar of the Community
United States
4008 Posts |
There is quite a secondary market for used catalytic converters and there are lots of Mid-night Auto Parts suppliers out there looking to cash in on it.
As to investing / speculating in Pt, there is an interesting twist in the history of Pt and Au prices. Seems that whenever Pt prices dip below Au prices, the price of Pt rises over the next couple of years by about 60%. This is an average from the past 4-5 times that this has happened. It is unusual for these prices to invert like they are now. Pt is almost always more expensive than Au. If I were going to buy some Au coins now, I would seriously consider buying cheaper Pt coins instead, hold them for a couple of years, and see if that average price history comes back into play. I'm thinking that at worst, it would be dead money that doesn't go up or down but just sits there. At best, the historical averages reassert themselves and a tidy profit could be made.
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Pillar of the Community
Canada
862 Posts |
Au and Pt are both up recently, seems Pt is rising faster
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Valued Member
United States
89 Posts |
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Valued Member
United States
364 Posts |
I just bought two proof 1 ounce Platinum Eagles from the Mint. They are currently $1692, and given the rise in price of platinum and my review of the US Mint pricing guide, I expect they will rise soon. The current price is also not much over the bullion coin which is selling for about a $150 premium at Goldmart.
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Valued Member
United States
364 Posts |
Bumping this re: the 1 oz platinum proofs. If I understand the pricing chart for the us mint, it appears the 2011 1 oz platinum proof will be going up to $1792 from $1692 on Wednesday. I am with Bigfredd's article; in the long run platinum is likely to rise back to at least parity with gold.
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Pillar of the Community
United States
4008 Posts |
Quote:
The current price is also not much over the bullion coin which is selling for about a $150 premium at Goldmart. This is the one thing about Pt that turns me off. Those premiums are stiff! I suppose that if one could collect that on the sale side as well as pay it on the buy side, it would all even out. But... does that happen or is the premium simply "lost"? |
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Valued Member
United States
89 Posts |
The problem is the potential Platinum price increase has been factored in so Platinum goes upto $1800/oz chances are 1 ozer will still be selling around $1900 so you actually lose the premium as prices go up.
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Valued Member
United States
364 Posts |
The premiums are stiff, but there is far less supply than gold coins. Also, gold is normally less expensive than platinum (and platinum is far more scarce). Even with the premium, the proof is less than the bullion gold eagle. I bought them as a value play. If nothing else, they are $100 cheaper today than they will be tomorrow.
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Valued Member
United States
123 Posts |
Shouldn't supply be already factored into the spot price? If everyone is buying platinum with a premium because it is difficult to find at spot price, shouldn't the spot price of the platinum go up and "swallow up" the premium? It just seems to me that if everyone is willing to pay $100 over spot, then spot should just go up $100 to catch up to supply/demand.
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Bedrock of the Community
Australia
21788 Posts |
Nothing wrong with a bit of diversification.
Having at least some position in all of the PM's seems to me a good way of stabilizing an investment in the bullion market.
That would suit both big and small investors.
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Valued Member
United States
364 Posts |
No doubt Sel, I have silver and gold, but no platinum.
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Replies: 15 / Views: 1,749 |
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Posted 01/07/2012 2:03 pm
