palladium going nuts! $2,464
KOYNGUY
Posts: 116 ✭✭✭
Does anyone know why palladium is going through the roof? FACTS ticker has it up nearly $160 today! Palladium 2,464.30 (159.40▲) CLOSE
0
Comments
https://forums.collectors.com/categories/precious-metals
I wonder if the Mint is kicking themselves for finally getting on board with a palladium bullion program. At what point does volatility, and this dramatically surging pricing, make it impractical to mint Pd coins? (There, now totally on topic.
)
Sorry, did not know there was a precious metal forum. But I was pursuing a set of these, but was not looking to have north of 10 grand in it. J.P.
Today's closing prices
Quoting @cagcrisp in the 2019 W $25 Palladium Reverse Proof thread
( https://forums.collectors.com/discussion/1023980/2019w-palladium-reverse-proof-19ek-on-sale-now-2-437-50#latest )
"The Mint doesn’t own any palladium coins. They lease the coins. +/- on the pricing grid has no effect on the Mint. The pricing grid spread is constant. The Mint has same spread at $1,987.50 as it does at $2,537.50..."
The Mint will raise the price on Wednesday to take into account the price of Palladium today if it holds at this today's level. It could still go higher. Today's price on the mint page was raised for the 2019 Palladium ERP is $2,537.50 last Wednesday. If today's spot price holds or goes higher the price next Wednesday will raise to the average closing price formula.
Look to the right of your post. The right vertical column along the edge of this page shows all the specialized forums.
Leasing. Interesting, thanks @Kudbegud , and for the link too.
That because there is not much available it is hard to mine and yields are low compared to other minerals and the car industries use much of what is available, I guess that's why car are so expensive.
It takes up to around 100 Tons of hard rock nickel ore to produce 1 ounce of palladium. Tremendous capital involved. Canadian miners have gone BK.
100% Positive BST transactions
If I owned Pd I'd be looking to unload it. I learned my lesson a long time ago when I invested heavily in tulip bulbs and held on to them too long. I won't make that mistake again.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Makes buyers of the 1st 2 Pallidum mint coins look like a genius
The buyers who then sold them, not so much.
Here's a warning parable for coin collectors...