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Question About Platinum

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newtocoinbuying's Avatar
United States
47 Posts
 Posted 04/05/2010  7:16 pm Show Profile   Bookmark this topic Add newtocoinbuying to your friends list Get a Link to this Message Number of Subscribers
I want to invest in Platinum coins on APMEX's website. I plan on buying two half ounce American Eagles. Does in matter what year I buy the coins for? Does it matter if I buy NGC rated and not PCGS? They appear to be the same price. I am one of the one's who believes Platinum will go up....a lot.

Thanks,

Joe
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jokingjoker's Avatar
United States
2150 Posts
 Posted 04/05/2010  9:15 pm  Show Profile   Bookmark this reply Add jokingjoker to your friends list Get a Link to this Reply
Just curious, why not buy 1, 1oz piece? Typically the price is higher + spot on fractional pieces.
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vermontensium's Avatar
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 Posted 04/05/2010  10:12 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I'd also personally buy em raw. That's just me. Why overpay for a slabbed bullion coin? That's my opinion.
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newtocoinbuying's Avatar
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 Posted 04/05/2010  10:39 pm  Show Profile   Bookmark this reply Add newtocoinbuying to your friends list Get a Link to this Reply
I'd like to buy two half ounce coins, because they would be more liquid if the price went up to where I think it may go to. I also would want slabbed, because I found that you have to pay a premium on any coins you buy. When you sell to dealers usually you only get spot for the metal. If I have one or two slabbed coins at least if I wanted to sell to a private party he/she could see that NGC or PCGS certified that the coins are genuine and in good shape.
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jokingjoker's Avatar
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 Posted 04/06/2010  07:54 am  Show Profile   Bookmark this reply Add jokingjoker to your friends list Get a Link to this Reply
I tend to agree with vermontensium, I would probably go raw. I tend to stay away from ultra modern slabbed bullion.
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Conder101's Avatar
United States
17884 Posts
 Posted 04/06/2010  1:57 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
When you sell to dealers usually you only get spot for the metal. If I have one or two slabbed coins at least if I wanted to sell to a private party he/she could see that NGC or PCGS certified that the coins are genuine and in good shape.

But unless they are really high end graded the dealers will still only offer you spot. And unless they are 70's if platinum goes really high definitely all you will get will be spot because effectively no one will be collecting platinum coins, just buying and a metals hedge.
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newtocoinbuying's Avatar
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 Posted 04/06/2010  6:11 pm  Show Profile   Bookmark this reply Add newtocoinbuying to your friends list Get a Link to this Reply
Gainesville sells them raw and most likely cheaper than APMEX. So you are saying I should buy them raw and not slabbed through Gainesville? The only paperwork I will have is the order receipt and my local coin dealer told me he does not like to purchase platinum because it is too volatile.
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newtocoinbuying's Avatar
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 Posted 04/07/2010  7:35 pm  Show Profile   Bookmark this reply Add newtocoinbuying to your friends list Get a Link to this Reply
The rated platinum coins seem to be the same price as the non-rated coins.
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CoinNut's Avatar
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58 Posts
 Posted 04/13/2010  5:55 pm  Show Profile   Bookmark this reply Add CoinNut to your friends list Get a Link to this Reply
I personally believe that slabbed platinum would be a waste. You already said you are planning on platinum going up which means you are buying them as bullion. If you go to a dealer, He is going to offer you 90-95% of melt because in a worst case scenerio he can sell them at melt and make a little money. If you buy them as bullion and then try to sell them to a private person, chances are they are buying them as a bullion investment also. I am sure there are some people out there but not to many collect platinum as a numismatic coin. In the end, you do what makes you happy but if you are just playing the metal market then I would not pay the mark up for PCGS. Example: if gold is $1160/oz and I buy 1 oz. if gold goes to $1190/oz, I made $30 profit. If I buy a PCGS coin which is marked up $30 over spot ($1190)to make up for the PCGS grade, if gold goes up to $1190 all I did was break even.
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