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Physical Platinum Drying Up

SilverBuyer

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#41
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", ....
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.
 

917601

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#42
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.
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."
 

CrimsonGuardJay

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#44
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.
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.
 

ttazzman

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#45
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.
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...
 

Chester-Copperpot

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#46

ttazzman

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#47
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
 

gringott

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#48
Remember that Tulving's first "problems" [1991?] had to do with numismatic coin sales -

Tulving's firm had been one of the nation's most prominent and respected rare coin dealers for more than a decade when it rocked investors and others in the industry with the announcement Aug. 1 that it was under investigation by the FTC and the California Department of Corporations.

The investigations involved allegations that the company overpriced coins it sold and reneged on guarantees to repurchase them.

A day after revealing the investigations, Tulving said in an interview that he had sold most of the firm's assets in order to keep the business open. Among the items sold, he said, were coins, several luxury cars, a corporate jet and Tulving's Newport Beach residence.
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.
 

Chester-Copperpot

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#49
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
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.
 

louky

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#50
2011 1 oz Australian Platinum Platypus 1068 on the bay. seems out of stock most every where else i look to compare prices...
 

CrimsonGuardJay

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#51
2011 1 oz Australian Platinum Platypus 1068 on the bay. seems out of stock most every where else i look to compare prices...
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.
 

ttazzman

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#52
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
 

CrimsonGuardJay

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#56
what good is a lower price .....when no one has stock?......and its quickly reaching that point...
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.
 

ttazzman

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#57
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.
GOLD????.......senior moment???
 

CrimsonGuardJay

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#58
GOLD????.......senior moment???
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
 

Usury

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#60
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.
 

the_shootist

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#61
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.
Yeah, it seems to me that the market for PT is limited at best
 

ttazzman

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#62
.....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
 

the_shootist

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#63
.....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

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

CrimsonGuardJay

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#65
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.
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.
 

ttazzman

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#66
Wouldn't PT sell at spot right here rather than having to go to a dealer? (much like gold and silver)
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...
 

ttazzman

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#69
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...
 

Mr.Jens

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#70
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...
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.
 

ttazzman

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#72
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.
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