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WOW! Platinum up $23.90 in 5 minutes!

goingbrokegoingbroke Posts: 1,410
in Precious Metals
Platinum $1,671.50 $1,681.50 $23.90

I only wish I could sell my MS 70 platinum proofs no one seems to want this metal. everyone wants gold!
Many successful BST transactions ajia
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins

Comments

  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    The 2010-W $100 APE proof I paid $1,792 for from the mint is only $113 over melt right now. Seems like platinum has increased in price almost every day. Maybe it is headed back to $2,200 an ounce?
  • OPAOPA Posts: 17,126 ✭✭✭✭✭
    A lot of speculators are banking on a world wide economic boom?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Mission16Mission16 Posts: 1,413 ✭✭✭
    That's because I just sold a bunch. image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Platinum could just as well be going along for the ride with gold and silver. Even if the economy doesn't boom for years, platinum will at least hang even with gold's appreciation. It still is a precious metal. If gold went to $2000 and Platinum was at $1800, would you be buying it instead of gold?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • OPAOPA Posts: 17,126 ✭✭✭✭✭
    Cudos to Platinum .... however, Palladium so far has had the highest % increase. Weiss did manage to take advantage of $400 Palladium a few month ago, did anyone else?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ProofCollectionProofCollection Posts: 6,296 ✭✭✭✭✭
    The recent APMEX Report makes a pretty good case for Platinum using the historical relationship of platinum to gold.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    The economic numbers out of China today are what may have moved platinum higher today.
  • johnny9434johnny9434 Posts: 28,475 ✭✭✭✭✭
    let the insanity begin image
  • yellowkidyellowkid Posts: 5,486 ✭
  • yellowkidyellowkid Posts: 5,486 ✭
    I realize Platinum has many industrial uses, and I know some of you keep it also. But is it widely held like gold? It doesn't seem to have the panache, at least to me, that gold does.
  • jmski52jmski52 Posts: 22,933 ✭✭✭✭✭
    I realize Platinum has many industrial uses, and I know some of you keep it also. But is it widely held like gold? It doesn't seem to have the panache, at least to me, that gold does.

    In order to properly appreciate platinum, you should get yourself a low premium 1 oz. Unc specimen from the years 1997-2003 that can be held in your hand.

    End of story.image

    Added: Yeah, I know. You gotta learn about all the industrial applications, the bottlenecks in the mining operations, the rarity relative to gold, the unique properties.....

    No, it's not as widely-held, but it's alot more widely-held than it was 10 years ago.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    no not widely held. Go to any Asian country, bet they would take your gold in a heartbeat vs your plat. Plat and palladium are not known very well in the mainstream like gold and silver are in my opinion
    Successful Buying and Selling transactions with:

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  • MilesWaitsMilesWaits Posts: 5,375 ✭✭✭✭✭
    ""In order to properly appreciate platinum, you should get yourself a low premium 1 oz. Unc specimen from the years 1997-2003 that can be held in your hand""

    Yes, I agree. There is no platinum like the "reverse proof" of those particular years. Now, as a pocket piece.....heck yes, feel the magic!

    I do have a PCGS slabbed 2000 MS69 One Ouncer that in all likelihood, will not leave that slab, but close to spot was $850, so maybe..........

    Miles
    Now riding the swell in PM's and surf.
  • goingbrokegoingbroke Posts: 1,410
    Far rarer than gold, it is estimated that all of the platinum ever mined throughout history would fit into a cube less than 25 feet on each side. The vast majority of platinum mined today comes from just two parts of the world: The Bushveld Complex north of Pretoria, South Africa and the Noril'sk-Talnakh region of Siberia in Russia, which produce, respectively, about two-thirds and one-quarter of the world's platinum supply each year.

    Platinum's supply/demand fundamentals are tight. In fact, according to some estimates, if platinum mining were to cease today, there would be only about a year's supply available to industry. In contrast, above-ground supplies of gold would last nearly a quarter of a century.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • jmski52jmski52 Posts: 22,933 ✭✭✭✭✭
    Platinum climbed another $35.00 or so today, in orderly fashion. And it's already corrected and bounced back this evening.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • goingbrokegoingbroke Posts: 1,410


    << <i>Platinum climbed another $35.00 or so today, in orderly fashion. And it's already corrected and bounced back this evening.image >>

    its at $1702 and still climbing!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • MilesWaitsMilesWaits Posts: 5,375 ✭✭✭✭✭


    << <i>

    << <i>Platinum climbed another $35.00 or so today, in orderly fashion. And it's already corrected and bounced back this evening.image >>

    its at $1702 and still climbing! >>



    That means we are only $90 away from the Mint (good price) on the 2009 and 2010 Platinum Proofs I bought!

    Gosh, the price seemed so high at the time.....

    Miles
    Now riding the swell in PM's and surf.
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