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Physical Platinum Drying Up

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



  1. Usury

    Usury Gold Chaser Platinum Bling

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    Taking delivery of a contract? Interesting idea....Hmmm... Seems like in the past someone mentioned this for PM's but there were a lot of hoops to jump through and required the use of other's services that may be expensive. I might have to give the video a watch and see.
     
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  2. BUILT TO LAST

    BUILT TO LAST Gold Member Gold Chaser

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    I was stumbling around & trying to read his Seeking Alpha article & came upon his recording. I just posted it for general info. I wish I had the funds, time & knowhow to do what he is discussing. He mentions that a platinum contract is ~$50,000 & a Gold contract ~$100,000 so he was talking about selling a Gold contract & buying two Platinum contracts.
     
  3. Usury

    Usury Gold Chaser Platinum Bling

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    Yeah I remember the contract amounts being pretty steep--out of reach for most everyone. And even those that "could" do it may not want to tie that much up in one PM type/lump.
     
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  4. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    I have never had a bad PM transaction on Ebay.......but its like anything if its too good to be true it probably is....check history and feed back.....great for smaller purchases (size is relative of course) .....check product when you get it.....dispute if something is wrong....if very suspect layer your buy protection via CC on top of paypal...

    (i lied i did have a bad one when ebay first got started years ago and i paid with a money order)
     
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  5. bemac

    bemac Midas Member Midas Member

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    Scored two 1915 4-Ducat coins for $800 shipped. I find amazing deals on ebay and love it for buying. Selling can be scary.
     
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  6. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    got in my first order of PT ...ordered sat....got today.....from Cali......very good service..


    those 4 ducats are beautiful coins...i was always afraid i would bend them...
     
  7. louky

    louky Silver Member Silver Miner

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    i agree on the ducat, great "starter" coin when purchasing gold for the first time. makes it feel like you're getting something more substantial even as a fractional piece
     
  8. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Think the bottom is in for Platinum. Funny how hard it was to find when the price was near the bottom. Right now all the big dealers have it back in stock.
     
  9. REO 54

    REO 54 Midas Member Midas Member

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    I'll buy plat at dealers prices. I've seen like 80 to 90 $ spread in spot prices.
     
  10. SilverBuyer

    SilverBuyer Silver Member Silver Miner

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    It's actually probably the safest way to buy (as long as you are capable of determining if your items are genuine once you've received them).

    You have Ebay buyer protection, Paypal protection and finally credit card protection. (I'd suggest using a credit card that way you have a pretty much fool proof last line of defense in the very unlikely case the first two fail you)
     
  11. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Got that one wrong, will we see Platinum hit the $700 range?
     
  12. savvydon

    savvydon Gold Member Gold Chaser

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    Where are you seeing the cheapest plat maples?
     
  13. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Right now GoldenEagleCoins is the cheapest for the Maples. Bought from them a couple of times this year, no problems what so ever.
     
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  14. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    Its hard to pick exact bottoms.......buying low ranges and contrarian buys are not for the weak of heart
     
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  15. BUILT TO LAST

    BUILT TO LAST Gold Member Gold Chaser

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    All aboard! I have always viewed Platinum as too expensive but recently came into some money & bought a substantial amount (For me) a few days ago. Its still dropping & I don't care.

    http://www.mining.com/platinum-palladium-prices-tank-as-investors-flee/

    Does anyone know how to make coat hangers?
    Herman Francis Mark
    Escape from Nazi Europe
    In early 1938 Mark began preparing to leave Austria by delegating his administrative duties to colleagues. At the same time he clandestinely started to buy platinum wire, worth roughly $50,000, which he bent into coat hangers while his wife knitted covers so that the hangers could be taken out of the country.[1]
     
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  16. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Interesting strategy...

    Curious, what's a substantial amount?

    Bay precious metals on eBay, 2015 platinum platypus for spot + $112.
     
  17. BUILT TO LAST

    BUILT TO LAST Gold Member Gold Chaser

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  18. Usc96

    Usc96 Gold Member Gold Chaser

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    They have a 1/10th ounce platinum eagle at my local jewelry/PM shop. I asked the price (I asked a couple of weeks ago, and thought I heard $236), and was told $229. I responded that I have a few at the house, so what are they paying. The straight faced response from the lady was $69. I laughed. I don't expect they will find many people buying or selling at those prices.
     
  19. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    i see a lot of that kind of action out there.....i usually just offer spot plus 5% and take it from there.....mention platinum and they sometimes get this foggie faroff sorta look in their eyes........
     
  20. Fjpod

    Fjpod Silver Member Silver Miner

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    I'm a bit new at this, but have been thinking about Platinum Eagles, but the premiums look so high that it negates Platinum's low price. The other thing that puzzles me is you always hear people say "Platinum might not be as easy to sell when you have to". If it's so hard to sell, why are people snapping them up at such high premiums?
     
  21. Shortstack

    Shortstack Bain of the Authoritarian Follower Gold Chaser

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    PT is easy to sell if you purchase from a major dealer. This stack was not purchased from the forum sponsor - so I paid a little more than I could have if using the forum sponsor. I have never tried to sell this PT - I purchased a few months ago at about $1,000 per coin all in. Yes, these are PT maples. Check them out - the ridges on the coins make them super reflective in the light, and are a fantastic security feature, at least according to the Royal Canadian Mint anyways. Premiums are much lower on these coins than the US PT Eagles as well. small PT.jpg
     
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  22. Fjpod

    Fjpod Silver Member Silver Miner

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    With these premiums, I'm wondering if it might be better to purchase them on paper...sell later. Normally, I like physical..., but for a short term play...??
     
  23. pay dirt

    pay dirt Gold Member Gold Chaser

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    With PT is there is a whole lot less around compared to the other metals. It goes up much faster than AU and falls faster. Last run up it took off first over 2K. It has high demand in industry and few places to find it on the planet in large quantities. A person can trade it for Ag or Au on the fast run up or paper for other things.
     
    Last edited: Jan 22, 2016
  24. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    If your a trader.......nothing wrong with a little paper.
     
  25. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    I added some recently to my platinum stack. I haven't did this in a long while. I haven't been keeping track on coin availability throughout a calendar year. Are the platinum coins generally only in stock at the beginning of the year, and then is very hard to find later on? If so I will probably need to make my second and last purchase now.
     
  26. the_shootist

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

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    I just can't talk myself into PT. As a storage and protector of wealth I don't think it's as good a fit for me as gold and silver....but that's just me. I don't make any recommendations here
     
  27. Shortstack

    Shortstack Bain of the Authoritarian Follower Gold Chaser

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    Just wondering if I should add another ten Oz of PT maples to my small gathering of friends. Or wait until the PPT hammers the metals complex over the next few days and then buy some of those new PT Phils. They are the same 37mm diameter as the silver Phils so they must be thin as a dime. But I think the far more important question for me is this. Would the Phils ruin the Feng Shui of my 30 maples when I update the picture above?

    https://www.muenzeoesterreich.at/eng/produkte/1-ounce-platinum-999-5
     
  28. savvydon

    savvydon Gold Member Gold Chaser

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    Nice coins but I feel ya on the feng shui. I think the maples still a good play with the gold:plat ratio still so lopsided. I bought some in the mid 800s but have been frustrated by lack of availability as I watched them go to the mid 900s.
     
  29. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Out of new platinum coins, I like the platypus the best. The water droplets have a 3d like effect.
     
  30. oldgaranddad

    oldgaranddad Gold Member Gold Chaser Site Supporter ++

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    I agree.

    Platinum is an PiM (precious industrial metal) more so than silver. The main drivers are catalytic converters and medical devices; the medical devices are also PT plated not solid. That leaves the automotive industry and their dependency upon the rest of the economy. Another factor to keep in account is that Russia has tons of it in the ground and above ground. They just announce they are dumping diamonds wholesale onto the market. They've done that to PT too in the past. It's all dependent on how much the Russians need the cash. The Russians are right now dumping all their old equipment in a sandbox called Syria but they need to replace that old stuff with bright shiny toys. They have to pay for it somehow. The oil revenue isn't going to foot the bill with Saudi Arabia creating an oil glut. My guess PT is up on deck after the diamonds for a fire sale. That is the time to start stacking the stuff if you wish or think it will rebound fast enough.
     
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  31. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Sales over IMO. $800 dollar platinum was probably the bottom. All the platinum in the world could fit inside an average Americans living room. That ain't much.
     
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  32. hernancortes

    hernancortes Gold Member Gold Chaser

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    I just saw on my news feed that the Austrian mint is now making bullion Philharmonics in platinum so I'd start looking for those and I wouldn't expect them to be any more expensive than Maples.
     
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  33. tranzformer

    tranzformer Seeker Seeker

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    What are the lowest premiums you guys have come across recently?
     
  34. gold4278

    gold4278 Silver Member Silver Miner

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  35. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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  36. hernancortes

    hernancortes Gold Member Gold Chaser

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    GoldenEagleCoin.com just got in the new Austrian Plat. Philharmonics. Slightly cheaper than Maples.
     
  37. edsl48

    edsl48 Silver Member Silver Miner

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    Apmex and JMBullion announced 2016 pre sales today of the 1 oz Platinim uncirculated. Anyone buying?
     
  38. savvydon

    savvydon Gold Member Gold Chaser

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    Considering it. I think it is a good play.
     
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  39. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    Solid play, think I'll buy one.
     
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  40. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Buy a few why not. It's like 11 times rarer than gold, it's hard to grasp how much cheaper it is.
     
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