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Physical Platinum Drying Up

Discussion in 'Purchasing Precious Metals' started by Chester-Copperpot, Jul 21, 2015.



  1. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Quick search of the online dealers and most are sold out or down to the bare bones. Premiums have risen almost as much as the metal has dropped. The physical market seems very thin to me.
     
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  2. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    that to me is real interesting,

    the white metals are kind of the forgotten metals,

    where we all thought supply would dry up in gold or silver, is it true that we were looking the wrong direction,
    and the stress shows up in the white metals???

    Especially with the supply so constrained and only put to market by a few players?
     
  3. SilverBuyer

    SilverBuyer Silver Member Silver Miner

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    I don't think they hold much in stock.
     
  4. Usc96

    Usc96 Gold Member Gold Chaser

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    I have alway avoided stacking platinum because the premiums were ridiculous. At my LCS the premium on a 1 ounce eagle has been $300 for as long as I can remember. That type of premium, which has probably doubled by now, does not make me want to stack platinum because I know the sale price will be closer to spot.
     
  5. squirk

    squirk Seeker Seeker

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    Not too long ago when we had this same phenomenon (gold higher than platinum) I remember folks saying buy while you can that it would go back to its normal relationship of platinum having the higher values. I wonder if people are now jumping on the opportunity since they missed out on it last time. Now I am somewhat new to the PM game (2009) so this may happen more often than I know and will debunk my theory altogether. But I think a combination of sellers just not carrying a great deal to begin with and people taking advantage of the gold vs platinum prices right now.
     
  6. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    Ok ......guys if it will help i will quit buying.......:)
     
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  7. Ebie

    Ebie Midas Member Midas Member

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    Apmex only has 5 APE.
    Interesting.
     
  8. farscott

    farscott Silver Member Silver Miner

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    And the premium on those five 1-ozt APE is $350 with spot at ~$984. I would like to buy some APE coins, but not with that premium.
     
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  9. hernancortes

    hernancortes Gold Member Gold Chaser

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    It stands to reason the premiums are so high on APE's, in my recollection they are just as high now as in late '08.
    1. Pt Eagles, like other eagles are held tightly by the public --- even non-collectors reluctant to sell once they have them.
    2. Some were melted in the run-up to $2300 a few years ago.
    3. Look at the mintage tables. Very few total minted and they haven't minted any new ones since fall of last year.
     
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  10. Mr.Jens

    Mr.Jens Seeker Seeker

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  11. Ebie

    Ebie Midas Member Midas Member

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    So, if they drop the paper price, will the price of APEs go down?
    Extreme (unlikely) example: $100/oz plus $350 premium? = $450/coin?



     
  12. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    The paper price of platinum will never be $100, thats preposterous.

    And in the event that platinum was say, $500 an ounce, the premiums would probably still be in the $150+ realm.

    I miss when the 2014 Platinum eagles were just issued and provident had them for spot + $69.
     
  13. Mr.Jens

    Mr.Jens Seeker Seeker

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    What was platinum in the 2014s, $1400s? So say $1450 + $69 vs. $980 + $200. Seems like you are still ahead today even with a higher premium.
     
  14. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    I wanted to buy a Platinum Maple but went with the cheaper Vacambi bars. Prov, Silvertowne are wiped out and JMB had only 40 left. If this market continues I'll be trading silver for platinum.
     
  15. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    1/10 TOZ Plat Eagles $149 fleabay.

    http://www.ebay.com/itm/331568987578


    By the way, after the last stock crash I bought into a fund invested in mostly Platinum mining etc; made a ton of money when manufacturing came back for cars. Sold near the peak.
     
  16. 917601

    917601 Mother Lode Found Mother Lode

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    Let's take this into perspective , and examined what happened during the 2008 meltdown. Study the chart, what do you notice? Apply that to the cycle, Platinum's days will return, ( I jumped" all in" at the 800 or so mark, Dec 2008)), but only " after" the great meltdown of 2015/2016 and the global economy declares everything has been fixed.As with gold, the key to the future is the past.
     

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  17. Ebie

    Ebie Midas Member Midas Member

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    "the key to the future is the past"
    What does that mean?
    A 5 year slump or a 35 year slump?
    Or a 5000 year history of value?

     
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  18. Ebie

    Ebie Midas Member Midas Member

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    So, you are saying that there is still connection with the paper price, and, dropping the paper price will drop the price for APEs.
    Interesting.
    A premium of $350 seems quite high to me, weather they are "rare" or not.


     
  19. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    I'll have to look it up, but I remember I bought a few ungradeds off a guy on the bay for spot plus like 40, and then soon after the 2014 bullion strike was released, I bought a bunch for spot + 69 and had them graded... I got MS70s on all of them except one.

    If platinum comes back up in the next 5-10 years I'll be happy to sell the mint graded ones go for a good profit, haha.
     
  20. 917601

    917601 Mother Lode Found Mother Lode

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    "The American Platinum Eagle bullion coins were not issued during the years 2009 to 2013. The collectible uncirculated versions of the coin were issued only from 2006 to 2008. The standard proof versions have been issued in one ounce size only since 2009..."

    You will do well with Platinum, I bought my deep cameo graded proofs from Tulving, $5 over spot.long story, the old man gave me the deal of a life time ( I had to buy a few rolls).


    Mintages:

    http://platinumeagleguide.com/mintages/
     
  21. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    First off, you bought ROLLS of plat Eagles? I don't have the balls to buy gold Eagles or platinum Eagles by the roll, that is a considerable sum.

    And second, I do have the rarest BU platinum eagle year, in reasonably good shape. Montage is 6,000... I used to know the number by heart
     
  22. bemac

    bemac Midas Member Midas Member

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    These are the lowest mintage plat eagles...

    Year Face Mintage APW
    2006 W $10 3,544 0.10
    2006 W $25 2,676 0.25
    2006 W $50 2,577 0.50
    2006 W $100 3,068 1.00
    2006 P $100 6,000 1.00
    2007 W $10 5,556 0.10
    2007 W $25 3,690 0.25
    2007 W $50 3,635 0.50
    2007 W $100 4,177 1.00
    2008 W $10 3,706 0.10
    2008 W $25 2,481 0.25
    2008 W $50 2,253 0.50
    2008 W $100 2,876 1.00
     
  23. hernancortes

    hernancortes Gold Member Gold Chaser

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    Wait...Proof plat. eagles, stuffed into rolls.... for $5 over?
    Cool story, bro. lol
     
  24. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    I actually checked the market last night for the first time in quite a while, and a 2014 bullion strike graded MS70 just sold for $2200 on the bay 2 months ago....

    I regret NOTHING.
     
  25. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    Back in the day got me a few deals like that from the Gruff ole fart......seemed he would deal on off mainstream items if you took all he had......to bad his business plan was not sustainable
     
  26. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Provident and JMB are almost completely out now. APMEX has some left but the numbers are dwindling. Maybe about 200 oz's left.
     
  27. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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    Never got into the platinum space. I figured that if currency was never backed by platinum (as far as I know anyway, which isn't much) why would I include it in my long term plans. I view it more as a commodity than a currency. That's just me folks, I'm not any kind of expert on platinum by any means
     
  28. Usury

    Usury Gold Chaser Platinum Bling

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  29. HistoryStudent

    HistoryStudent Midas Member Midas Member

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    Always buy well KNOWN brands.

    Thanks for this thread. I always wondered when the PREMIUMS would start to kick in because supply SUCKED.

    Platinum is a third metal in a PM short list for me. Plainly because I can not know what will happen and what
    can be traded in the new age coming upon us.

    Like the bumper sticker said, "The Lord is coming back soon and boy is HE mad!"



    Possible highs per Richard Maybury

    GOLD = $12,000
    SILVER = $200
    PLATINUM = $12,000


    PLEASE think...

    Baskets think baskets =

    1 bullion coins,
    2 bullion,
    3 modern coins with light premium

    4 small,
    5 medium, and
    6 large coins....

    7 different country's

    there that's seven baskets times seven baskets
     
  30. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    I like to use ebay as my retail barometer ...i go put several of the lowest cost items from companies like apmex etc in a bracket in my watch list then keep a eye on how many are sold ...how many are watching them...and how many are left....if the premium ratio shifts between companies.....really give you a idea of what is moving and how fast.....much easier to track than going to each companies web site every day several times a day when your on the prowl
     
  31. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    .....i guess im slow.........i only see 7 baskets.....x 3 metals????........wheres the other 7 in the 7x7 equation?
     
  32. HistoryStudent

    HistoryStudent Midas Member Midas Member

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    TTazman...

    I'm even slower...

    but, start with Canada...

    Bullion coins are the Maples 1
    Bullion bars are the silver RCM 100 oz'ers
    Modern coins are the proofs or special MS slabbed

    Small 1/20th 1/10th maples
    Medium .25 .50 take your choice maples
    Large 1 oz or bigger

    Now lets go to South Africa, then Great Britain, Isle of Man, France, Austria, Australia, the United States

    and like the KING & I,

    "Etcetera etcetera etcetera."

    Then do the same with SILVER and PLatinum coins....

    Oh, don't forget to add all the modern coins slabbed....

    especially GOLD spouses MS & PF 70s ; and ATB "P"s SP 70s

    Baskets think baskets

    Simple right?

    Buy now or by now you'll be flat busted broke as I was.... years ago....

    When I was in Tasmania years ago (2008) I looked for the Tasmanian Devil - never found the darn thing....
    I was on their highest peak too... colder than HELL...
     
  33. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Bay precious metals has platinum Eagles, random year for spot + 200. Best deal I've seen on those by far.
     
  34. savvydon

    savvydon Gold Member Gold Chaser

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    They also have maples for about $125 over. With credit card rebate you get them shipped for about $1090 at the moment.
     
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  35. 917601

    917601 Mother Lode Found Mother Lode

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    Now you sucked me in, I called Tulving one night looking to buy 1 oz Platinum Eagles, old man Tulving answers says they are out, I mentioned I have done much business in the past, he said , look , I have plenty of PRDCAMs Pcgs graded 69s, I can let them go at 5$ over spot if you buy 40, ( keep in mind I did not know what a PRDCAM was), I received them in Blue plastic file type boxes, each Eagle was encased in the plastic PCGS single coin containers. As they are in " deep storage", I can not post pics, heck, I do not even remember what year they are, but they had to be 2008 or earlier as that is when I bought them. I do remember they had baby Eagles and other Eagle depictions on the backs. I do also remember I was very pleased with old man Tulving, which is why I kept doing business with him. Tulving always left me a satisfied customer. They looked like this.
     

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  36. SilverBuyer

    SilverBuyer Silver Member Silver Miner

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    Well I guess we can all see why he went out of business.
     
  37. 917601

    917601 Mother Lode Found Mother Lode

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    Maybe, but he gave me another deal on a Monster box of SF Silver Eagles. I had ordered a box a few years ago ( when silver was about $28 or $30) and waited about a month with no Eagles. I called, and called , got some bubble headed girl who kept saying they were on the way. I finally got old man Tulving and received a box of SF Mint Silver Eagles in three days. I still have not opened the banded green box. It remains unopened till the day I auction it off. On an interesting note: when I was complaining to him about waiting a month and check your records, I am a good customer, he stated" we no longer keep a record of buyers", ....
     
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  38. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Good lord, 40 of them though? Not a small amount of money even for me
     
  39. 917601

    917601 Mother Lode Found Mother Lode

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    Still a big amount for me to, but, I had sold my house in three days ( at the height of the housing collapse) at asking price.$800 platinum was a good price to park cash then, it just so happened to be at another historic low. The evil princess ( wife) demanded I sell it when it ran to $1800, that is when I put it in " deep storage". Two people know where it is today, me, and God.
     
  40. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    As evil as she was, that would have been a good idea in retrospect I suppose...

    Also, I've been in the situation where I've sold a house twice and been sitting on top of a considerable amount of cash, I just couldn't bring myself to jump into an asset that strongly, i generally spread that over several months, trying to hit dips and apmex eBay deals.
     
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