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Would you swap gold for platinum at 1 to 1?

jpkinlajpkinla Posts: 822 ✭✭✭
in Precious Metals
I expect the price of gold and platinum to hit parity soon. I haven't seen that in a number of years and was curious who felt that swapping gold for platinum at a 1 for 1 basis made sense?

I recently swapped some MS65 Saint Gaudens for TWO American gold eagles. Should have done more of them but didn't.

I also recently swapped some 90% bags at $4 over spot for 1000 ounce bars at spot plus .35cents.
$10 Indian Gold Registry Set

$20 Saint Gaudens Registry Set

Comments

  • jmski52jmski52 Posts: 22,795 ✭✭✭✭✭
    If there are no transaction costs, I think it would be a reasonable trade in terms of bullion for bullion.
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  • BBNBBN Posts: 3,761 ✭✭✭
    can it be done? I'm still seeing a high markup over spot for platinum on ebay

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  • DeadhorseDeadhorse Posts: 3,720 ✭
    Several years ago I traded nearly all my pre-'33 slabbed gold for modern raw Gold Eagles.

    I felt gold was going up quickly, and it did. I ended up trading around 30 ounces for 54 ounces given the numismatic value on the older gold.

    Still, I don't know what to think of Platinum right now. I have an order due from the Mint, but I think I'll just sit on them and see what happens.

    Plat really has me stumped lately. Even as jewelry it has traditionally had, at minimum, a value of 15% over gold.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • lathmachlathmach Posts: 4,720 ✭
    Platinum is used in catalytic converters on cars.
    Car production is at a very low level, so there is not the normal high demand for platinum from the car makers.
    When the economy begins to return to normal, the demand will return, and with it the higher price for platinum.
    There is no such industrial need for gold.
    Since thats the case, I'd hold the platinum.

    Ray
  • DoubleEagle59DoubleEagle59 Posts: 8,296 ✭✭✭✭✭
    Definite NO.

    The no brainer swap right now is Gold for Silver.

    You get 80 ounces of silver for every 1 ounce of Gold.

    Six months ago you could only get about 45 ounces of silver to 1 ounce of Gold
    "Gold is money, and nothing else" (JP Morgan, 1912)

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  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Platinum is used in catalytic converters on cars.
    Car production is at a very low level, so there is not the normal high demand for platinum from the car makers.
    When the economy begins to return to normal, the demand will return, and with it the higher price for platinum.
    There is no such industrial need for gold.
    Since thats the case, I'd hold the platinum.

    Ray >>



    Most usage of Platinum is in industrial exaust scrubbers. Sort of like a catylitic converter on steroids.

    Not a lot of new industry coming on line these days either.

    However, car makers are finding new metals/exotic alloys to replace Platinum in their cats. The Japanese already have one that will pass any emissions standards. They haven't experted it to the US yet, but it's only a matter of time.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • Weather11amWeather11am Posts: 2,040 ✭✭✭
    The bearish outlook on platinum makes me bullish.
  • trozautrozau Posts: 3,455 ✭✭✭
    Yes. I have gold bullion coins I can trade 1 to 1 for platinum bullion coins (if anyone has them and is so inclined). image
    trozau (troy ounce gold)
  • fcfc Posts: 12,793 ✭✭✭


    << <i>The bearish outlook on platinum makes me bullish. >>



    so that means rhodium must be a real bargain and a great investment?
  • Weather11amWeather11am Posts: 2,040 ✭✭✭


    << <i>so that means rhodium must be a real bargain and a great investment? >>



    I never said that. I do have this outlandish strategy called "buy low, sell high". image
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