Some Cheap Pure Platinum On Ebay! How Can I Test? What's The Catch Here?

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Author	Replies: 4 / Views: 1,857
ka_who New Member Australia 2 Posts	Posted 05/18/2021 09:57 am Recently I found an ebay Australia listing of bulk/loose pure platinum %99.99. I figured if it turned out to be fake or a scam, I can raise a dispute and get my money from PayPal. so I go ahead and purchase 1 gram to see if they will anything at all. funny thing I don't have anything to test them anyway. after 2 weeks the envelope with a small piece of white metal arrived and to my surprise, it was almost 2 grams!!! I was thinking sure it has to be fake so I took it to a gold and jewellery buying shop and ask them if they buy it and if yes how much! I thought this way they test it for me for free!!!, they used a handheld x-ray tool and confirm it was 99.999 platinum and they would pay $30 per gram!!! So it wasn't fake or low percentage. my question is how possible they can sell platinum under market price and be profitable? I think they accept my offer ( 10$ under market price and the shipping was free! I could buy from them and sell at market price and pocket the profit? I don't get it! is the market price is something arbitrary and the real price is lower or they try to build their profile and willing to sell under the price? I don't understand! what is the catch here? I like to do some more accurate test to see if it is really 99.99 pure platinum. how can I do the test accurately myself at home? I attached the photo as well. link to the item: https://www.ebay.com.au/itm/333711985827 thanks Report this Post to the Staff

Bump111 Pillar of the Community United States 3325 Posts	Posted 05/18/2021 11:39 am Not sure - could be harvested from stolen catalytic converters. Becoming another epidemic in the U.S. Their cost for the platinum is cents on the dollar in that scenario. "Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae Report this Post to the Staff
jbuck Moderator United States 188660 Posts	Posted 05/18/2021 11:56 am to the Community! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
ka_who New Member Australia 2 Posts	Posted 05/19/2021 10:07 am @Bump111, I doubt it!!! it came as peace of about 2x2 cm about.1mm thickness and the cost of refining, melting and flattening some platinum casting to clean platinum lake would be astronomical!!! also, you need almost 20 car catalyst to make 1 of these. Report this Post to the Staff
Zurie Pillar of the Community United States 5672 Posts	Posted 05/19/2021 10:31 am There's about 5 grams of platinum in a single catalytic converter. That and sky high rhodium prices are making the theft of catalytic converters a huge problem in some areas. Report this Post to the Staff
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