Palladium
BAJJERFAN
Posts: 31,082 ✭✭✭✭✭
Anyone here dabble in Palladium? If you bought some and the price went up, who would you sell it to besides the place you bought it from? Doesn't seem to me like it would be very easy to sell quickly.
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--Severian the Lame
the only palladium in demand by anyone is in a catalytic converter
I knew it would happen.
<< <i>the only palladium in demand by anyone is in a catalytic converter
Except catalytic converter manufacturers probably aren't interested in talking to anyone unless they have at least 10,000 ounces. Or supply gets really restricted.
Well I meant scrap actually
<< <i>Well I meant scrap actually
Investment grade catalytic converters; who'd a thunk it.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Unfortunately I don't have access to the comments to verify what was said. Apparently tho, they are predicting an increase in industrial use for the future or are hoping that the Ukraine situation will force supplies down and prices up. No interest in the metal from my end.
edited to add that the comments weren't from Monex. was something my wife got from some analyst on a website she frequents.
<< <i>
<< <i>Well I meant scrap actually
Investment grade catalytic converters; who'd a thunk it.
Catalytic converters are the only real use for palladium. The selling price of a converter always tracked the spot price of palladium in the past pretty well . Lately though , scrap prices haven't responded to the rise in spot. To me that signals low demand . The price moves slowly on the way up but quickly down. Fast selling is rewarded , hoarding is punished.
I buy 2 or 3 Ford trucks a month and part them out on ebay . The cats come with the trucks I buy , the cost of the cats to me are about a half a sawzall blade each
Now I'm at the bottom of the food chain but I make the most per cat . The guys on the next step are local to the town or city area and usually buy steadily and bring pickup truck loads to the next guy up. Those guys probably get $80 at the moment.
The guys they bring their cats to fill 4 foot square cardboard boxes on pallets and send an 18 wheeler load at a time.
Those guys on the 3rd rung are the ones that drive prices. When prices came down a few years ago many of them got crushed because they were sitting on a lot of inventory they overpaid for. The ones that survived have reacted by cutting buy prices at the first sign of trouble.
There is no demand for the coins or bars at all. Spreads are very wide . In that respect it mirrors the scrap market. As spot goes up no one will offer you more for the coins or bars because demand is so thin but if spot declines offers will crater.
Here is a link to the nucleo page at bullion direct you can see how pathetic it is
palladium nucleo
as I look at it there is one big buyer that wants 200 oz at $25 back of spot and one big seller who wants $20 over spot and the rest is just dabblers. 5% spreads and low demand will kill you.
<< <i> The price moves slowly on the way up but quickly down. >>
My dear aunt was a market player. Her words were, "It takes the escalator up, and takes the elevator down".
<< <i>
<< <i>
<< <i>Well I meant scrap actually
Investment grade catalytic converters; who'd a thunk it.
Catalytic converters are the only real use for palladium. The selling price of a converter always tracked the spot price of palladium in the past pretty well . Lately though , scrap prices haven't responded to the rise in spot. To me that signals low demand . The price moves slowly on the way up but quickly down. Fast selling is rewarded , hoarding is punished.
I buy 2 or 3 Ford trucks a month and part them out on ebay . The cats come with the trucks I buy , the cost of the cats to me are about a half a sawzall blade each
Now I'm at the bottom of the food chain but I make the most per cat . The guys on the next step are local to the town or city area and usually buy steadily and bring pickup truck loads to the next guy up. Those guys probably get $80 at the moment.
The guys they bring their cats to fill 4 foot square cardboard boxes on pallets and send an 18 wheeler load at a time.
Those guys on the 3rd rung are the ones that drive prices. When prices came down a few years ago many of them got crushed because they were sitting on a lot of inventory they overpaid for. The ones that survived have reacted by cutting buy prices at the first sign of trouble.
There is no demand for the coins or bars at all. Spreads are very wide . In that respect it mirrors the scrap market. As spot goes up no one will offer you more for the coins or bars because demand is so thin but if spot declines offers will crater.
Here is a link to the nucleo page at bullion direct you can see how pathetic it is
palladium nucleo
as I look at it there is one big buyer that wants 200 oz at $25 back of spot and one big seller who wants $20 over spot and the rest is just dabblers. 5% spreads and low demand will kill you. >>
Thanks for the info. Speaking of Bullion Direct/Nucleo, does anyone here purchase through them?
Quality-wise, imo, the Maples are the best. Ballerinas are good as well but not perfect.
The JM Stillwater rounds have good quality on big sizes while they are poorly made in 1/10 and 1/4.
Never owned Tonga coins or bars.
I wish I focused on the Maple set when it was in the $200's...
<< <i>I like Palladium and never had a problem selling it.
Quality-wise, imo, the Maples are the best. Ballerinas are good as well but not perfect.
The JM Stillwater rounds have good quality on big sizes while they are poorly made in 1/10 and 1/4.
Never owned Tonga coins or bars.
I wish I focused on the Maple set when it was in the $200's...
I suppose a few ounces in coins or bars is no big deal, but what if you had 100 ounces that you want to move quickly?
<< <i>I suppose a few ounces in coins or bars is no big deal, but what if you had 100 ounces that you want to move quickly? >>
You will have the same issues with Au or Pt....and with 1000 oz of Ag...
Apmex buys Maples at $807 with spot at $812. I don't think they will be scared of your 100 oz...
I wish I had 100 oz to move quickly! Maybe the ones I purchased at $200/oz! LOL
<< <i>I purchased some several years ago, when Palladium was around $280 per oz, circa early 2009. Had no problems in selling them on eBay at a tidy profit. >>
Same here,though I never sold. In fact I consider it one of my best investment deals I ever made in pms. My only regret is not buying more at this price. I bought 33 ozs (1 oz credit suisse bars )and I'm sure that the seller is still kicking himself for that sale. If I ever decide to sell, ebay would be my first choice and would not have any problems unloading.
Time to buy?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I bought a Canadian maple just to have something different. In it cheap compared to today's price but in no hurry to sell.
Got quoins?
How about owning one of these (100 oz.) and trying to sell it?
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
I bought and sold palladium to apmex. It was easy.
I have one single piece, but will hold it as it's my only example.
My YouTube Channel
I used to recycle aluminum cans but it's gotten so competitive on the streets that I now just stand on a street corner with a cardboard sign, asking for donations. Sorry to go off topic.
Yeah, there's always APMEX, but I was thinking of quicker than that. Walk in with metal and walk out mit da cash. Also 100 ounces is a reportable transaction.
jmbullion.com/reportable-bullion-transactions-infographic/#