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 Replies: 18 / Views: 4,798 |
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Valued Member
United States
73 Posts |
I've started the process of purchasing my first 1-oz. $100 platinum Eagle. I don't have a platinum coin in my portfolio.
I visited the US Mint's web site and learned that the Mint is not a bullion dealer, but they had a link to bullion dealers near my zip code, and that referred me to a company named "United States Gold Bureau" in Austin, TX.
Has anyone done business with them before?
So I paid $1050 for the coin and the current spot price of platinum is around $964. Buying this coin at this time is more interesting to me as a collector, not as an investor, but I certainly hope the value of platinum increases over the next decade. That's when I may start selling my coins if I'm still alive! In 2028, I'll be 70! Yikes!
I should receive the coin in about 10 days. I'll post a picture after I get the coin.
What companies do you think are best for buying platinum and gold? Is there a thread on that topic? I didn't see one right away on this forum and would appreciate any links or references to reputable and trusted companies.
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Pillar of the Community
United States
2023 Posts |
I can't answer any of your questions, but I like platinum better than gold or silver -- the finish (at least on the proofs) actually looks harder and more metallic. I'm building a set of the 1/4 oz coins (1997-2008); just two more to go. It's true that the Mint is not a bullion dealer but you can buy proof editions from them (just not the bullion pieces, as you've learned). If you want certified/slabbed pieces, those are available on ebay -- just research the dealers, their feedback and return policies. And expect to pay a higher premium than you just did. I assume you bought the 2018 piece. Please post pics -- we'd love to see one in-hand. |
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Bedrock of the Community
Australia
21788 Posts |
I have only one platinum 'coin'. ($100 one ounce Pt Koala). My reasons for acquiring it are exactly the same as the O.P. 'Coin' is inverted commas, because it is a bullion 'coin', the only 'coin' that I own. Pt is not represented in my collection as a coinage metal, except for this example. The only Pt coins that were issued into, and actually saw some circulation, are the Russian 3, 6, and 12 Roubles. Today, they are very rare. Every other coin in my collection was actually issued into circulation, and saw use as money. That is my base definition of a coin, although the definition has far wider application with modern collectors. My Pt 'coin' came from the Perth Mint, which specializes in the minting and sale of high quality proof NCLT, non proof Bullion 'coins', and bullion in bar form. They are also gold refiners. I have visited the Perth Mint in Hay Street in Perth. They also have an interesting gold museum. You can actually handle a 400 ounce gold bar, and they have on display the Worlds most valuable 'coin': a one tonne (1,000 kilograms) gold 'coin', with a face value of One Million Dollars. It is about 4 inches thick, and about 3 feet in diameter. You can actually touch it, and be photographed next to it. It is officially available for sale! Edited by sel_69l
03/12/2018 7:40 pm
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Rest in Peace
United States
17900 Posts |
I don't know how many times I've been tempted to grab a platinum. But every time I do I think of the type coin I can get in the same price range.
It all depends on your want list, I guess.
I must say I do appreciate the designs of our current issues of platinum.
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Moderator
 United States
34410 Posts |
Quote:
What companies do you think are best for buying platinum and gold? I don't see mention of your specific company in any prior CCF threads, but this question is asked frequently in this forum. I recommend going through some old threads to learn what others have experienced with purchasing bullion. "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Moderator
United States
188560 Posts |
Congratulations!  No gold or platinum in my collection. Like others I have different priorities.  |
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Valued Member
 United States
73 Posts |
Thanks jbuck. I checked my account balance this morning and the transaction has been made. I wish I had bought the coin just this last December. Spot price of platinum was just $882/t oz. Oh well. My next "big" coin investment may be the 1916 D Mercury dime. That would complete my date-mint set of dimes from 1916 through 2017. :) That will be my next milestone! I haven't seen the 2018s yet. Edited by coinjem
03/13/2018 10:07 am
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Moderator
United States
188560 Posts |
Quote:My next "big" coin investment may be the 1916 D Mercury dime. That would complete my date-mint set of dimes from 1916 through 2017. :) That will be my next milestone! Excellent! I am missing the 1916-D and 2018 dimes as well. |
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Pillar of the Community
United States
4211 Posts |
 and Congrats~!! The only platinum in our collection is a single 1/10 oz. Would love to have a one ounce coin! |
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Valued Member
United States
73 Posts |
Hi and thanks for the welcome Debrajc. I'm getting antsy waiting for the email from the https://invest.usgoldbureau.com letting me know that the Pt Eagle has shipped. :) Delivery will be by FedEx and require a signature upon receipt. |
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Moderator
United States
15433 Posts |
Hopeful this all works out for you ... show us some photos whenever your Platinum coin arrives.  David Take a look at my other hobby ... http://www.jk-dk.art |
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Valued Member
United States
73 Posts |
nickel searcher wrote: Quote:
Hopeful this all works out for you ... show us some photos whenever your Platinum coin arrives. I certainly will post a pic. :) In about a week... Once I have the coin, I will be able to critique the company from where I purchased it. I noticed that JM Bullion was selling a similar "common date" Pt coin for around $100 more. One of the things I've already learned so far after speaking with the USGB is that the buyer seems to have little to no choice of which year "common date" Pt coin one is purchasing. Is this true with other bullion dealers for "common date" Pt coins as well? Edited by coinjem
03/14/2018 4:59 pm
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Pillar of the Community
United States
2589 Posts |
Platinum price is tied somewhat to the car market, the more cars that are sold, the more platinum is needed for their catalytic converters. Likewise, political initiatives to improve greenhouse gas emissions drive stricter emissions standards and thus a higher demand for platinum. Conversely, "green" energy initiatives hurt the platinum market, as plugin electric cars require no catalytic converter and thus no platinum. The more people use plugin vehicles, the worse the platinum market gets lol
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Valued Member
United States
73 Posts |
If reversible PEM fuel cells were used more for converting excess wind energy to hydrogen by water electrolysis using platinum, green energy suppliers could store that intermittent energy supply better. Convert the stored hydrogen back to electricity when the wind isn't blowing. Electric cars on the other hand get their power usually off the grid, meaning that electric car is really running off of coal, nuclear, nat. gas,, hydro, whatever mix your utility company uses.
But that process is still in the design stages from what I've read. Germany has tried it, I believe, at a wind farm there.
At any rate, I still think the demand for platinum for industrial uses will increase. Just not yet...
Today I received the email from the USGB (link above) that the shipment of the coin has been made to Austin. Now it's just a matter of the FedEx driver to make the final delivery early next week! (Monday or Tuesday) :)
I also learned from a recent news release at the USGB web site, that their parent company is the official depository for gold, silver, etc., in the State of Texas. It's the first state-operated bullion depository in the USA. I thought that was interesting.
Edited by coinjem
03/16/2018 4:22 pm
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Valued Member
United States
73 Posts |
Delivered!    I need a better holder for the coin, but for now the plastic holder will have to do.  Any suggestions? |
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Moderator
United States
188560 Posts |
Quote: Delivered! Excellent!  |
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Replies: 18 / Views: 4,798 |
Posted 03/12/2018 7:15 pm
