1. Stocks soar, Metals get hammered
    Dismiss Notice
  2. Monday morning takedown. Gold is down 12.8 to 1243 while Silver is down 17 to 1647. Crude is up 20 to 4321. The USD is up 15 to 97.09
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Physical Platinum Drying Up

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



  1. SilverBuyer

    SilverBuyer Silver Member Silver Miner

    Joined:
    Jan 21, 2015
    Messages:
    744
    Likes Received:
    565
    Trophy Points:
    93
    Even if your a good customer selling those platinum eagles that far below market value, it would take you buying something like 20 boxes of silver eagles from him just for him to make back the opportunity cost of selling those platinum eagles at that price. Bad business, don't know what he was thinking on that one.
     
  2. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    10,861
    Likes Received:
    8,616
    Trophy Points:
    113
    Old Man Tulving had originally gotten into business selling rare and graded coins. They did not sell well, he had more inventory in collectible and rare coins than bullion, I suspect he had to move them time to time to make a profit to stay afloat. His bankruptcy filing revealed he had many numismatics and collectables, not offered on his website.

    "The Department of Justice and Secret Service had seized some coins, which the DoJ had appraised at $3M. Mr. Tulving's legal counsel engaged an expert who valued the coins at $11,384,000. Mr. Neilson makes it clear that high valuations should be taken lightly, and points out that it would likely take several years of careful work to realize higher values"...."I have received information from an anonymous (yet proven reliable in the past) source regarding the numismatic coins that were seized by the Secret Service.
    This source told me the fair market value of the coins (broken down into certified and raw coins), as listed in The Tulving Company's books, and the value is quite a bit higher than the original appraisal by the Deparment of Justice."
     
  3. Mr Paradise

    Mr Paradise Midas Member Midas Member

    Joined:
    Dec 3, 2011
    Messages:
    6,499
    Likes Received:
    6,560
    Trophy Points:
    113
    Location:
    Lake Superior
    Chester-Copperpot likes this.
  4. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,681
    Likes Received:
    1,152
    Trophy Points:
    113
    I can agree, that was not a good business move, however there is a chance he just wanted the cash flow. We've seen apmex selling bullion on eBay and the profit margin is probably razor thin on there... They just want to move inventory quickly.

    But yeah, for platinum Eagles, that was a bad move on tulving part.
     
  5. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    he didnt seem to be to patient the deals i did with him that were the best were usually when you bought everything he had in something a bit off mainstream...........i can also see taking a lost opportunity if you need cash to pay for a incoming shipment vs borrowing money to cover the shipment...
     
    CrimsonGuardJay likes this.
  6. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

    Joined:
    Aug 24, 2010
    Messages:
    3,275
    Likes Received:
    2,469
    Trophy Points:
    113
  7. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    i have been following PT on ebay from the bullion dealers.......they are selling the heck out of them....5-600 sold by various dealers in the last 24hrs or so.....

    there about $50 more on ebay........but that's immediate shipment and paypal payment...so its not bad at all for buying onesies or twosies..


    chester is that a tube of 20 or 25? lol
     
  8. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    12,616
    Likes Received:
    13,962
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    N/A
    Location:
    You can't get there from here.
    Remember that Tulving's first "problems" [1991?] had to do with numismatic coin sales -

    Perhaps he was getting rid of "underwater" or "undercounter" stock.... Stuff off the books. I know some of you guys swore by him, but he comes across as a really shady dealer to me. Somebody playing the long con.
     
  9. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

    Joined:
    Aug 24, 2010
    Messages:
    3,275
    Likes Received:
    2,469
    Trophy Points:
    113
    I believe it's a tube of 10 just like the gold Maples come in. I set a target to fill a tube of gold Maples a while back. Now I need another target.
     
    Mr Paradise likes this.
  10. louky

    louky Silver Member Silver Miner

    Joined:
    Jun 8, 2014
    Messages:
    2,546
    Likes Received:
    1,268
    Trophy Points:
    113
    Location:
    Bluegrass
    2011 1 oz Australian Platinum Platypus 1068 on the bay. seems out of stock most every where else i look to compare prices...
     
  11. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,681
    Likes Received:
    1,152
    Trophy Points:
    113
    I procrastinated on the eagle apmex had, so those are sold out, but gave bay precious metals some business with the Australian kangaroos and platypus. Reasonably low premiums.
     
  12. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    i have bought from Bay before with no issues......sometime a extra day or so to ship but no big deal...

    does seem the platypus coins are about the best deal out there for legal tender government sponsored platinum bullion right now
     
  13. the_shootist

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

    Joined:
    May 31, 2015
    Messages:
    12,449
    Likes Received:
    12,069
    Trophy Points:
    113
    Occupation:
    Architect
    Location:
    Cow Hampshire
    You'll be glad you did, the price will be going lower
     
  14. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa

    what good is a lower price .....when no one has stock?......and its quickly reaching that point...
     
    Chester-Copperpot likes this.
  15. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

    Joined:
    Aug 24, 2010
    Messages:
    3,275
    Likes Received:
    2,469
    Trophy Points:
    113
    Platinum sub $1000 is a great deal right now.
     
    CrimsonGuardJay likes this.
  16. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,681
    Likes Received:
    1,152
    Trophy Points:
    113
    I'm not saying I'm bearish on gold, but I personally feel if he price of gold goes even another $100 lower, there will still be gold for sale ... I'm sure they'll all be 2015s, as almost no one will be selling the Eagles, maples and kangaroos etc they've acquired in the past years.

    But there will be gold to buy.
     
  17. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    GOLD????.......senior moment???
     
  18. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,681
    Likes Received:
    1,152
    Trophy Points:
    113
    Oh, we're discussing platinum? Yeah, same story... It'll still be for sale, but not Eagles. You'll have to buy the pamp bars at that point, which are boring and have zero collectible interest, but they will be for sale for spot + 60 or so, even if plat hits 800/oz
     
  19. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,890
    Likes Received:
    1,446
    Trophy Points:
    113
    I see major dealers offering +125 for 1oz APEs. The market is tight as hell.
     
  20. Usury

    Usury Gold Chaser Platinum Bling

    Joined:
    Apr 1, 2010
    Messages:
    3,671
    Likes Received:
    2,683
    Trophy Points:
    113
    In past experience, the problem with PT is when it's time to sale, good luck getting spot for them. The best price I could find locally was 90% of spot and even reselling to online dealer for slabbed fractional eagles was just barely over spot. After that experience, I'm loath to buy much physical PT/PD again.
     
  21. the_shootist

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

    Joined:
    May 31, 2015
    Messages:
    12,449
    Likes Received:
    12,069
    Trophy Points:
    113
    Occupation:
    Architect
    Location:
    Cow Hampshire
    Yeah, it seems to me that the market for PT is limited at best
     
  22. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    .....spot has never been a problem for me for PT.........if LCS wont pay it....the local jewelry stores that do some fabrication will....its not like AU where alloy can be a issue
     
    917601 likes this.
  23. the_shootist

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

    Joined:
    May 31, 2015
    Messages:
    12,449
    Likes Received:
    12,069
    Trophy Points:
    113
    Occupation:
    Architect
    Location:
    Cow Hampshire

    Wouldn't PT sell at spot right here rather than having to go to a dealer? (much like gold and silver)
     
  24. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,890
    Likes Received:
    1,446
    Trophy Points:
    113
    I'd pay spot for APEs. :bear_kiss:
     
    917601 likes this.
  25. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,681
    Likes Received:
    1,152
    Trophy Points:
    113
    I have absolutely no idea what you're talking about...

    One guy on eBay is selling random year platinum Eagles for 1429 each, he's already sold 3.

    I assure you, you will get spot + a good premium on eagles, even an Australian coin, a bar maybe spot + 20, but 90% of spot? If someone offered me that for ANYTHING I own, I'd tell him about some sand that needs pounding.
     
    917601 likes this.
  26. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    absolutely..........my point was i can get spot for PT pretty much anytime.......with a lil work you can easly get more......but i also know a few LCSs local to me that they only know two metals......AU and AG......and will immediately start talking down PT and in their defense if they get some PT they will sell it cheap too...
     
  27. SilverCity

    SilverCity Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,654
    Likes Received:
    1,998
    Trophy Points:
    113
    Occupation:
    retired aerospace
    Location:
    New Babylon
    Platinum looks like dull silver. :bandito:

    SC
     
  28. Mr.Jens

    Mr.Jens Seeker Seeker

    Joined:
    Jul 11, 2013
    Messages:
    380
    Likes Received:
    228
    Trophy Points:
    43
  29. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    Koala's certainly arnt the lowest cost way to go........but that is decent for a Koala.....you can get the Koala's from apmex on ebay....at about $155 over and use paypal and free shipping...
     
  30. Mr.Jens

    Mr.Jens Seeker Seeker

    Joined:
    Jul 11, 2013
    Messages:
    380
    Likes Received:
    228
    Trophy Points:
    43
    Government minted coin is what I was referring to. Personally, not interested in generics (are there generic Pt rounds?) or private mint 1 oz bars. Government minted coins are what I like.
     
    917601 likes this.
  31. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

    Joined:
    Aug 24, 2010
    Messages:
    3,275
    Likes Received:
    2,469
    Trophy Points:
    113
    savvydon likes this.
  32. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    4,392
    Likes Received:
    3,309
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    for government coins legal tender......maples or platypus are usually the way to go price wise......

    i see Ebay has platypus's for approx $70 over spot (paypal/shipped) and that is a very good deal (actually cheaper than the generic bars)

    http://www.ebay.com/itm/2015-1oz-Australian-Platinum-Platypus-/331567879565?hash=item4d32fc558d
     
  33. SilverBuyer

    SilverBuyer Silver Member Silver Miner

    Joined:
    Jan 21, 2015
    Messages:
    744
    Likes Received:
    565
    Trophy Points:
    93
  34. Ahillock

    Ahillock A nobody Mother Lode

    Joined:
    Apr 30, 2013
    Messages:
    12,478
    Likes Received:
    12,055
    Trophy Points:
    113
    Location:
    GIM2 server bay #5
    Sure getting hammered today. Down $30.
     
  35. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,681
    Likes Received:
    1,152
    Trophy Points:
    113
    Yes it is. No good deals on platinum Eagles, maples, or platypus... Everything is spot + $120 or even $200
     
  36. gold4278

    gold4278 Silver Member Silver Miner

    Joined:
    Nov 13, 2013
    Messages:
    116
    Likes Received:
    27
    Trophy Points:
    28
    Location:
    Houston Area
  37. Ahillock

    Ahillock A nobody Mother Lode

    Joined:
    Apr 30, 2013
    Messages:
    12,478
    Likes Received:
    12,055
    Trophy Points:
    113
    Location:
    GIM2 server bay #5
    A month would feel like an eternity in this financial market.
     
    gringott likes this.
  38. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

    Joined:
    Aug 24, 2010
    Messages:
    3,275
    Likes Received:
    2,469
    Trophy Points:
    113
    I just received a Platinum Maple from GoldeEagle last week. Did take a month, but I knew that ahead of time. Best deal around at the time, $75 over too.

    [​IMG]
     
    bemac, WhyKnow, 917601 and 3 others like this.
  39. 917601

    917601 Mother Lode Found Mother Lode

    Joined:
    Apr 2, 2010
    Messages:
    10,861
    Likes Received:
    8,616
    Trophy Points:
    113
    Buy at these prices, you will be thankful you did. Notice the cycle dates.....
     

    Attached Files:

    Chester-Copperpot likes this.
  40. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

    Joined:
    Aug 24, 2010
    Messages:
    3,275
    Likes Received:
    2,469
    Trophy Points:
    113
    It's all I've been buying lately. I see more potential in Platinum than any of the other metals.
     
    ttazzman and 917601 like this.

Share This Page