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Why Is Gold Regarded More Highly Than Platinum?

stochastic

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#1
I don't get it. Why is gold regarded more highly than---or at least much more often spoken of by people than---platinum? Platinum has a higher price per ounce than gold!
 

Irons

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#2
Gold is the treasure of kings, and has been for thousands of years. Countries have measured thier wealth in gold, Central banks back thier reserves with gold, people have crossed oceans, killed and been killed by the hundreds of thousands in searching for and getting gold.
Gold is interwoven into almost every scrap of recorded human history. That ain't going to change anytime soon, you are not married until you are wearing a band of gold.
Platinum is nice and rare, but it looks like steel or silver and can't compare one iota to the history and lore of gold.
Ever heard of Platinum fever? Neither have I.
 

andial

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#3
Yes it's because of Gold fever. When Gold and Platinum were getting close in price in 2008 I said "make the switch" to myself, but I couldn't do it. Gold fever.
 

Anakin

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#4
About 50% of the global demand for platinum comes from the auto catalyst sector. And the balance comes from industries such as chemicals, electrical, glass, petroleum as well as from jewellery. The demand base is thus more diversified.
http://www.dnaindia.com/money/report_why-platinum-should-do-better-than-gold_1368658

Platinum is mostly an industrial metal. Fifty pc of the demand is just from the auto sector. That makes platinum a less reliable store of wealth. Gold is the established monetary metal.
 

hydro

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#6
Good questions, but I don't try to hard to figure it out. This is what I do know from my experience. I picked up a few ounces of platinum a little over a year ago when it was under $1,000 an ounce. Wish I had more. My only problem now is that I cannot find much, if any, locally. When I do come across it, I pick it up. But now I am lucky to afford fractionals. Pick some up if you can find some. Good Luck!!
 

917601

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#7
Depends where one lives. Japan is a platinum first, buy first country.In fact, platinum is and has been very, very hard to buy in large quantity bullion coins. The "super wealthy" keep the platinum supplier coffers empty. The wealthy buy gold, and the "classes" by silver.I can find all the gold bullion coins I want for sale, platinum extremely difficult or non-existant.
 
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#9
I was told the delaer won't pay cash for anything over $1000. You have to sell to them and receive a check which may or may not bounce.

Silver is easier to sell, under the limit, when you need cash.
 

WasUP

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#10
I was told the delaer won't pay cash for anything over $1000. You have to sell to them and receive a check which may or may not bounce.

Silver is easier to sell, under the limit, when you need cash.
Find a different dealer. I've sold over $20k of silver and gold, on several occasions, for CASH!!!
 
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#11
Find a different dealer. I've sold over $20k of silver and gold, on several occasions, for CASH!!!
Dude... they are shanty where I'm at. They are sharks. They pay way below spot and say thats too high a price to give cash.

With Silver I told them if you buy me out for $15, I will sell you 250 OZ of SIlver with spot well above $16. The guy paid me all cash.
 

Reelbusy

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#13
gold is prettier and makes better jewelry so everyone can love it, not just stackers.

Platinum is not prettier than silver
Silver is the dominant jewelry metal of that color and more affordable
so the public will never embrace platinum the way gold and silver are by them if only through decorative accessories.
 

KENKEN

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#14
I hate to say this but Platinum is better for jewelry. They are suppose to be harder than gold and do not tarnish like silver. I have a 9999 platinum necklace. It's been on my neck for years and still look as good as day one.

Gold is money, silver is money, and platinum is also money.

P.S. Do you know that the Chinese call platinum "white gold" ?
 

917601

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#15
Why Platinum is regarded more highly than Gold:
http://www.runtogold.com/2009/07/platinum-liquidity-increases/

Again-try to find say $200,000, $400,000 or even $1,000,000 in Platinum Bullion for sale-you will not. The wealthiest of the wealthy (and governments) have and continue to buy it all up long before it is available to the "little guy"-us. Buy all you can find.
 

TomD

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#16
I regard AU more than PT, the feeling when holding a tall stack of gold coins is hard to describe.
 

ttazzman

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#17
I regard AU more than PT, the feeling when holding a tall stack of gold coins is hard to describe.
TomD, have you ever held a tall stack of platinum coins???........i havent but heck if gold feels this good maybe PT might be ultra orgasmic:biggrin:
 

TomD

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#18
TomD, have you ever held a tall stack of platinum coins???........i havent but heck if gold feels this good maybe PT might be ultra orgasmic:biggrin:
Well, actually not. Weight-wise Pt would be a touch heavier but not noticeably so. But gold is just so beautiful and the history and the idea of it---
My favorite "fidget" coin is a Mexican 50 peso piece, at 42 grams it's heavy and being .900 gold it's hard too. No numi value at all so you don't have to worry about scratching it, if you do it's still worth 1.2 oz of gold.

I've had palladium, when I was collecting it, Pd was worth nearly half that of gold. I could hold several Pd coins, say that's nice and put them down without a thought.

To paraphrase a movie: There's something about gold.
 

Malus

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#19
Like salt and pepper, they belong together........
 

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Irons

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#20
Well, actually not. Weight-wise Pt would be a touch heavier but not noticeably so. But gold is just so beautiful and the history and the idea of it---
My favorite "fidget" coin is a Mexican 50 peso piece, at 42 grams it's heavy and being .900 gold it's hard too. No numi value at all so you don't have to worry about scratching it, if you do it's still worth 1.2 oz of gold.

I've had palladium, when I was collecting it, Pd was worth nearly half that of gold. I could hold several Pd coins, say that's nice and put them down without a thought.

To paraphrase a movie: There's something about gold.
This should help explain it!:banana:

 
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#21
the bible is full of references of gold and silver being used as a form of currency. the bible says nothing about platinum.......

a horse is god's creation. the automobile is mans creation......
 

newmisty

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#23
Good question OP> Good answers all.

I guarantee that if some major motion picture went on and on about Pt and it's "greatness", yadda yadda, there would be a lot more people jumping on the pt bandwagon.
 

Ragnarok

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#25
I think gold is more highly regarded mostly because ot its color and history, followed at a distance by rarity, durability and workability. Most metals don't have much color. Copper is as richly colored, but is so common as to be mundane, and does not retain its beauty due to ease of oxidation. Platinum's appearance and lack of color is similar to many other elements and alloys, many of which are also mundane, such as stainless steel. Platinum is also very difficult (expensive) to render into final metallic form and unlike gold or silver is rarely found native; as mentioned above, it has a very short history of use among humans compared to gold. Platinum's flagship quality is found in its unmatched catalytic properties, which are largely "hidden in use" from, and unrecognized and invisible to (and possibly incomprehensible by), the majority of people.

Thus I conclude that gold's unmatched and infinitely durable color is the main reason it is regarded more highly than platinum. And, when alloyed with only small quantities of other metals, gold can acquire almost any other color tint (green, rose, purple) or not ("white" gold) and still retain that durability.

2c, R.
 
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azxcvbnm321

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#26
I don't think there is enough platinum in the world to make it a form of money. That means its use is limited to industrial and decorative (jewelry) purposes. There has never been a platinum or palladium standard used by any country or peoples in history. Gold is money, silver might be, but platinum is not. It still may be valuable, but it will never be money. Interesting, but when I was a child, I remember platinum selling for around or less than the price of gold. Then it shot up to way past gold, probably due to its acceptance as jewelry.
 

Anakin

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#27
Pt -4%
Pd -8%
Ag -2.9%
Au -0.08%

There's nothing like gold.