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Is $1100 dollars each a good price to buy for platinum eagles now?

PutTogetherPutTogether Posts: 2,141 ✭✭✭
in Precious Metals
I ran into someone today in my neighborhood who said he has 6 platinum eagles he would sell for 1100 each for an in cash in person deal or 6300 for all six, which would be 1050.

The short questions is......... if you were me, would you?

Edited to fix a mis spelling

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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭
    The lowest priced 1 ozer that I've seen sell on ebay in recent history went for $1,270.

    If these are Regular Issue bullion coins, which they probably are, it still seems to be a pretty good deal.

    Added: Of course, platinum had dropped another $50/oz. this evening, but now it's only down about $38/oz. to $787/oz.

    It does seem that there is a disconnect between the spot price and the market price, just like there is for silver and gold at this time.

    1100/787 = 39.8% premium
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    OverdateOverdate Posts: 6,940 ✭✭✭✭✭
    With platinum under $800, I wouldn't pay that much of a premium.

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    PutTogetherPutTogether Posts: 2,141 ✭✭✭


    << <i>The lowest priced 1 ozer that I've seen sell on ebay in recent history went for $1,270.

    If these are Regular Issue bullion coins, which they probably are, it still seems to be a pretty good deal.

    Added: Of course, platinum had dropped another $50/oz. this evening, but now it's only down about $38/oz. to $787/oz.

    It does seem that there is a disconnect between the spot price and the market price, just like there is for silver and gold at this time.

    1100/787 = 39.8% premium >>



    With that logic, couldn't I just flip them on ebay?
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    mkman123mkman123 Posts: 6,849 ✭✭✭✭
    1. Ask the person if he has any gold or silver. Then maybe you can get those too.

    2. Check ebay and make sure you know they are going to sell for over what you can buy them for.

    3. If you can make money on them, go ahead and sell it.
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    CaptHenwayCaptHenway Posts: 31,566 ✭✭✭✭✭
    FWIW, we have them for sale live in the store at spot + $150 cash or check, but don't do telephone or internet sales on bullion. You have to come to the store.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    ChrisRxChrisRx Posts: 5,619 ✭✭✭✭
    I found plat at 1k/oz but still... 2 hundred over spot...
    image
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    JeremyDie1JeremyDie1 Posts: 2,383 ✭✭✭


    << <i>FWIW, we have them for sale live in the store at spot + $150 cash or check, but don't do telephone or internet sales on bullion. You have to come to the store.
    TD >>



    Capt where are you in Chicago?
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    PutTogetherPutTogether Posts: 2,141 ✭✭✭
    If some have at spot+150 and some have seen it at 1K. I guess the answer is that it would be tough to flip online for a profit.....especially accounting for pay pal fees and what not. On the other hand....If I wanted to keep them for a while (Possibly a long while) It may be worth it. Would especially be better if I got all 6 for 6300.

    LOL, anyone wanna go halves with me on 6 platinum eagles?
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    CaptHenwayCaptHenway Posts: 31,566 ✭✭✭✭✭


    << <i>

    << <i>FWIW, we have them for sale live in the store at spot + $150 cash or check, but don't do telephone or internet sales on bullion. You have to come to the store.
    TD >>



    Capt where are you in Chicago? >>



    Harlan J. Berk, Ltd.
    31 N. Clark St.
    CHicago, IL 60602
    (312) 609-0016

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    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Hey - I was just in there 15 minutes ago! Looking at Mexican silver rounds. Great store, by the way.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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    CaptHenwayCaptHenway Posts: 31,566 ✭✭✭✭✭
    Thank you.
    TD
    (I'm the short fat guy with the beard.)
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    JeremyDie1JeremyDie1 Posts: 2,383 ✭✭✭
    Thats right. I have been to your store a few times. Very nice selection of coins and paper money! image
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