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Physical Platinum Drying Up

Usury

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BUILT TO LAST

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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.
 

Usury

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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.
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.
 

ttazzman

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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)
 

ttazzman

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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...
 

louky

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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
 

Chester-Copperpot

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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.
 

REO 54

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

SilverBuyer

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Do you folks really trust eBay for PMs?
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)
 

BUILT TO LAST

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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]
 

CrimsonGuardJay

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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]

Interesting strategy...

Curious, what's a substantial amount?

Bay precious metals on eBay, 2015 platinum platypus for spot + $112.
 

Usc96

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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.
 

ttazzman

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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.
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........
 

Fjpod

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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?
 

Shortstack

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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?
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
 

Fjpod

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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...??
 

pay dirt

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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.
 
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ttazzman

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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...??
If your a trader.......nothing wrong with a little paper.
 

platinumdude

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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.
 

the_shootist

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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
 

Shortstack

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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
 

savvydon

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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.
 

platinumdude

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

oldgaranddad

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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
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.
 

hernancortes

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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.
 

hernancortes

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

edsl48

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