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 Replies: 33 / Views: 3,167 |
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Pillar of the Community
United States
3294 Posts |
I just looked and it seems that platinum is going for around 10% less then gold? Does anyone have an idea why it is doing that? I have never seen the like.
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Pillar of the Community
United States
2120 Posts |
I was wondering the same thing. I'm guessing it just because it's status as a store of wealth isn't as strong as Gold.
Which is sad because of how much more rare it is. I have about 2/5 an ounce of Pt. I hope it turns around a bit.,
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Pillar of the Community
Canada
834 Posts |
Platinum is a good invest if you believe the automotive industry will bounce back. The more cars produced generally the higher platinum goes.
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Pillar of the Community
United States
3670 Posts |
The deal with platinum is it is really rare, and eventually that will show in the spot price again, and I have been saying for a week or so that platinum is my gut feeling buy, which means smart people should probably stay away, lol.... Plus, look up a 1 10th proof in the ol blue case on ebay and see what they go for on average. not exactly reflecting the current spot price, or at least on last look anyway.... I have yet to see any deals better then what Provident is offering right now on those non proof versions.... Edited by Silverhawk74
09/29/2011 4:16 pm
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Pillar of the Community
1028 Posts |
I disagree. I think Platinum is a risky investment. It never outperforms other PM proportionally speaking and it falls just like them during any bear market. I'm no expert but as far as its use in catalytic converters and such for the automotive industry, can't they just use palladium. Platinum has been around a lot longer than most people realize, even in coinage, and it never caught on. I don't like it either. Not in coins, not in jewelry (for a significant other), not in bullion. I can't see it's rarity alone pushing its value
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Pillar of the Community
 United States
3294 Posts |
Rarity without demand does not create much value, and from what I understand, platinum is harder to work then gold, but it also does not need to be alloyed either. In any case, I think Iridium is the coolest metal and wonder what the price on that stuff is.
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Pillar of the Community
1028 Posts |
why do you think iridium is the coolest metal? just curious. I've never seen it for sale. Gold doesn't need to alloyed either unless its for jewelry.
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Pillar of the Community
United States
3294 Posts |
Unlike gold and platinum, iridium is completely impervious to all forms of acid and aqua regia. Iridium is as indestructible as a pure metal comes. It is 10x rarer then platinum. I don't think it is a commonly traded commodity which is why I have no idea what kind of price it commands.
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Pillar of the Community
United States
2589 Posts |
Iridum is the second densest metal and is fairly brittle so its not optimum material for making coins out of. But it is quite rare indeed. Someone will probably start selling it in sponge form eventually, just like kitco does today with rhodium.
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Pillar of the Community
1028 Posts |
That does make it sound like an interesting metal. It seems to be about as rare as Rhodium, and that's traded. I looked it up and apparently Osmium has that smallest actual production, with Rhodium and Iridium tied for second. Would be kinda cool to own examples of all the really rare metals. Maybe I'll start collecting that, like try to get a little Iridium ball or something.
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Pillar of the Community
United States
3294 Posts |
It would be very tough to make iridium coins true, because it is brittle as you said, and even making sheets to punch out planchets would be very difficult considering the high melting point of the metal.
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Pillar of the Community
1028 Posts |
btw, what exactly is "sponge" form. I know kitco sells Rhodium that way, but what is it?
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Moderator
 Australia
16844 Posts |
Quote:
Would be kinda cool to own examples of all the really rare metals. Maybe I'll start collecting that, like try to get a little Iridium ball or something. These guys make "coins" - cent-sized medals - out of different elements in the periodic table. They don't have iridium and osmium yet, but you can buy a rhodium one for $540. Quote:
what exactly is "sponge" form. I know kitco sells Rhodium that way, but what is it? "Sponge" form resembles a powder. It is "sponge-like" at a microscopic level, and is usually made by chemically reducing a compound of the metal. Sponge form allows metals that cannot be easily shaped in solid form, such as platinum, to be shaped then compressed to form the solid metal in situ. The blanks for platinum coins, for example, are typically made by compressing platinum sponge into a disc. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
642 Posts |
 with nod2003. Doesn't depend so much on rarity, as much as supply and demand. Demand for gold is higher than supply right now. Platinum supply is low, but demand is even lower. |
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Pillar of the Community
United States
2120 Posts |
You know what they say, if everyone is buying something you sell it. If noone is buying Pt...
/shrug
I picked up some, just in case. I don't see it losing value, so its a low risk medium reward sort of thing.
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Pillar of the Community
Canada
1502 Posts |
Once you get into rhodium, iridium and the like, the rare earth metals should be counted in the conversation.
I'm not as familiar with platinum but it seems like there is an industrial component to it more so than gold?
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Replies: 33 / Views: 3,167 |
Posted 09/29/2011 3:08 pm
