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 Replies: 6 / Views: 2,344 |
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Valued Member
United States
98 Posts |
Is anyone buying Rhodium bars ? What are the reasons that you are purchasing this over Gold, Silver, Platinum, and/or Palladium.
Also, Kitco is selling one ounce of Rhodium Baird & Co. Bar for $826 while spot is $767. Is this reasonable deal ?
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Moderator
 United States
54282 Posts |
I can find it quickly (google rhodium bullion) from other sources for $790 and less.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
Canada
2495 Posts |
About 10 years ago, wasn't rhodium trading at about $11,000 an ounce (that's NOT a typo).
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Pillar of the Community
United States
1005 Posts |
This is true, that rhodium has been very volatile in the past. The question I ask is, if it spikes up to 11k again, how do you sell it and who is buying? I doubt the major companies dealing in PMs would be in the market at that point
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Moderator
United States
16679 Posts |
I've got one.
My B & M told me they'd give me a few grand near spot should it hit those price levels again.
swcoin.ecrater.com
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Pillar of the Community
Russian Federation
5174 Posts |
It is said that, when Paul McCartney was to get a prize for having the highest total record sales ever (or something along these lines), the prize in question was proposed to be basically like the platinum record except made of something even more valuable than platinum.
So it was originally supposed to be made of the most expensive metal: osmium. Then someone found out that osmium was poisonous. So the prize was made from the second most expensive metal: rhodium.
I'm not sure when this would have happened, but definitely earlier than 10 years ago, because the book I read it in was written in 2004. (EDIT: 1979, apparently.)
Not sure of other details either.
I don't have any rhodium, incidentally (bars or otherwise); I'd have loved to, but I just don't have that kind of money (in my latest local coin shop visit, I spent what by my standards was an awful lot of money - nearly $30). No gold, palladium, or (sadly) platinum, either (I do have some silver, which I mostly bought when it cost $40 per ounce).
(Also no iridium. Does anyone collect/hoard iridium? Does anyone even make bullion iridium? I know it's silly valuable, but no details specifically.)
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Pillar of the Community
Canada
2495 Posts |
Rhodium must be a very illiquid market.
Buying it isn't a problem, but selling it would be.
You pay sky high premiums to buy it and then take cut-throat discounts when selling it.
So your net gains are substantially less than your kitco rhodium spot buy-sell prices.
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Replies: 6 / Views: 2,344 |
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Posted 02/28/2016 2:05 pm
