Got a call from a fellow today wanting an ounce of platinum at spot. Can any of you guys help me out ?
Tell him to open a store and buy it in over the counter.
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.
Got a call from a fellow today wanting an ounce of platinum at spot. Can any of you guys help me out ?
Ask him how much he expects to get when he sells it. If he says "Spot" or "over Spot" tell him he is a damp fool.
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.
I told him if he joined my club and paid the dues, I could get him platinum at competitive prices. He seems to think he can find it for less. Am guessing he is in the inner circle of trust
I told him if he joined my club and paid the dues, I could get him platinum at competitive prices. He seems to think he can find it for less. Am guessing he is in the inner circle of trust
There are always people who think that the Law Of Supply And Demand does not apply to them.
Of course, if he is buying it to make a jewelry casting he might actually be able to get something at melt, such as a damaged bar or an Israeli state medal or something by the Franklin Mint or something else equally un-retailable. What form was he looking for?
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.
Heard a good, plausible explanation for the weakness in the PGM Group. Russia is a major producer, and they are getting severely hurt by the Crimean sanctions and by the weak prices of oil and natural gas, which they export. Under the circumstances they may be selling off all or part of their PGM stockpiles.
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.
We live in interesting times. It looks to me as if silver has taken on more characteristics of it's monetary component, while platinum is being discounted because it has no monetary component.
Until lately, both silver and platinum could be counted on to track the general business climate, while gold remained most influenced by monetary factors. I think that this divergence between silver and platinum tells me something - monetary factors are becoming more important than economic factors.
If you think the economy is due for a bounce, platinum is a screaming buy. I don't really think that's the case, and if the economy drags or gets weaker, platinum may languish for quite some time.
Prices on Platinum Eagles have come down along with spot, but the premiums on Platinum Eagles are still quite high. This could simply mean that retail demand isn't tracking industrial demand. Maybe cohodk will check in and let us know if he found some low-premium platinum bullion somewhere.
As always, the time to buy is when nobody wants it. We're getting there, but if retail buyers are still holding on, maybe we're not all the way there yet. As usual, it's all just speculation!
Q: Are You Printing Money? Bernanke: Not Literally
Some - myself included - would say that gold and silver have more than just a commodity or a collectible component.
IMF and central banks shouldn't be in the commodity business, if gold and silver are mere commodities. The reality is that you can't drive the monetary component out of precious metals with rhetoric. They are time-tested and time-proven throughout history.
Q: Are You Printing Money? Bernanke: Not Literally
Referencing precious metals as commodities is one way of marginalizing their monetary importance, in my opinion.
Calling out the use of an emotionally-charged opinion with use of "should" is a way of eliminating an opposing view, in my opinion.
If one thinks that banks should be in the commodity business, then we have a different opinion of what function that banks should play in society, in my opinion.
Q: Are You Printing Money? Bernanke: Not Literally
Originally posted by: asheland I think Platinum is a good deal at this point. (If you can get it with a reasonable premium)
U.S. Platinum Eagles still carry a high premium, some platinum coins from other countries have somewhat lower premiums. Overall the buy/sell spread on platinum coins is higher than on gold and silver, so exchange traded funds are more reasonable in that respect.
The lack of liquidity for platinum eagles is in great measure due to the lack of supply. I suspect there would be quite a bit of demand if the government treated them as the bullion coins they're supposed to be, rather than as a once-a-year art canvas. A one-off mintage of 16,900 one-ounce plats in 2014 constitutes the only appearance of the bullion version in the past seven years.
Originally posted by: Overdate The lack of liquidity for platinum eagles is in great measure due to the lack of supply. I suspect there would be quite a bit of demand if the government treated them as the bullion coins they're supposed to be, rather than as a once-a-year art canvas. A one-off mintage of 16,900 one-ounce plats in 2014 constitutes the only appearance of the bullion version in the past seven years.
I agree with that but if there was a ton of interest at the high markups the mint gets why didnt they make more then?
Originally posted by: jmski52 I've read within the past week that there's a shortage of platinum, which might explain why they are only making the high premium collector proofs.
The current price of platinum tells me there is no shortage.
Originally posted by: Overdate The spread between gold and platinum is now $311, the widest I can remember!
Gold $1286.
Platinum $975.
It's crazy, I have been tempted to buy some plat bullion.
The Mint is set to issue a plat on 6/30 I am in for a couple.
Don't 'buy' platinum, but rather, trade your gold for platinum.
This way, not only are you taking advantage of the low platinum price, but you're getting the extra benefit of accumulating more platinum than at any other historical time.
Then when prices (or ratios) level off to their historical norms, trade back the platinum to gold.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
Originally posted by: Overdate The spread between gold and platinum is now $311, the widest I can remember!
Gold $1286.
Platinum $975.
It's crazy, I have been tempted to buy some plat bullion.
The Mint is set to issue a plat on 6/30 I am in for a couple.
Don't 'buy' platinum, but rather, trade your gold for platinum.
This way, not only are you taking advantage of the low platinum price, but you're getting the extra benefit of accumulating more platinum than at any other historical time.
Then when prices (or ratios) level off to their historical norms, trade back the platinum to gold.
Solid advice, thank you.
Successful coin BST transactions with Gerard and segoja.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
Don't 'buy' platinum, but rather, trade your gold for platinum.
This way, not only are you taking advantage of the low platinum price, but you're getting the extra benefit of accumulating more platinum than at any other historical time.
Then when prices (or ratios) level off to their historical norms, trade back the platinum to gold.
It would be a bit more conservative to hold your gold and just go ahead & buy a little platinum.
Consider the transaction costs, and tax implications. Always. (i.e., don't unnecessarily churn the account).
Q: Are You Printing Money? Bernanke: Not Literally
Now $1136, only $202 below the price of gold, starting to close the gap.
Fresh break out in plat and platinum miners/producers like SWC. Plat looks headed to the $1350-$1375 region. And there's good reason for it to get back to at least get back to the gold price. The 1 yr chart is quite symmetric. Next major resistance is around the 5 yr down trend line at $1200/oz.
Platinum seems to move faster than gold on both the upside and downside.
It's a thinner market, for sure.
I like to see the reaction vs proaction on this forum. Predictability is a prerequisite of success.
What's your proactive move? Mine is that I've been selling some low-end and extra stuff to generate liquid capital while trying to stay tax-neutral. I've also been adding some of the last few Plats that I need.
I'll be buying some more bullion before too long.
Q: Are You Printing Money? Bernanke: Not Literally
Platinum is now $322 below gold. Lowest I can remember.
Gold $1254.
Platinum $932.
It takes 4 ounces of platinum to buy 3 ounces of gold.
How low can it go?
Comments
Got a call from a fellow today wanting an ounce of platinum at spot.
Tell him to open a store and buy it in over the counter.
I knew it would happen.
Gold $1090, platinum $819.
My Adolph A. Weinman signature
Got a call from a fellow today wanting an ounce of platinum at spot.
Ask him how much he expects to get when he sells it. If he says "Spot" or "over Spot" tell him he is a damp fool.
Yes, tell him he's "all wet"!
I knew it would happen.
I told him if he joined my club and paid the dues, I could get him platinum at competitive prices.
There are always people who think that the Law Of Supply And Demand does not apply to them.
Of course, if he is buying it to make a jewelry casting he might actually be able to get something at melt, such as a damaged bar or an Israeli state medal or something by the Franklin Mint or something else equally un-retailable. What form was he looking for?
Gold $1104, platinum $814.
My Adolph A. Weinman signature
Until lately, both silver and platinum could be counted on to track the general business climate, while gold remained most influenced by monetary factors. I think that this divergence between silver and platinum tells me something - monetary factors are becoming more important than economic factors.
If you think the economy is due for a bounce, platinum is a screaming buy. I don't really think that's the case, and if the economy drags or gets weaker, platinum may languish for quite some time.
Prices on Platinum Eagles have come down along with spot, but the premiums on Platinum Eagles are still quite high. This could simply mean that retail demand isn't tracking industrial demand. Maybe cohodk will check in and let us know if he found some low-premium platinum bullion somewhere.
As always, the time to buy is when nobody wants it. We're getting there, but if retail buyers are still holding on, maybe we're not all the way there yet. As usual, it's all just speculation!
I knew it would happen.
Knowledge is the enemy of fear
Gold looks historically expensive compared to other commodities. Is it? Or is it losing its status as a commodity?
Gold, silver, and platinum metals are commodities.
Gold, silver, and platinum coins are collectibles
all coins have "collector premium", some just have a little bit, some have quite a lot.
Liberty: Parent of Science & Industry
IMF and central banks shouldn't be in the commodity business, if gold and silver are mere commodities. The reality is that you can't drive the monetary component out of precious metals with rhetoric. They are time-tested and time-proven throughout history.
I knew it would happen.
I didn't say "mere"
It's the adjectives that are loaded with emotion when people talk about things.
Are they "mere"? Are they "crucial" or "barbaric" or "beautiful" or "boring" or any other subjective word?
some people's emotions say yes, some say no.
Another word loaded with emotion, nuance, and subjectivity:
"Should"
When people use it, they're expressing an opinion
Liberty: Parent of Science & Industry
Calling out the use of an emotionally-charged opinion with use of "should" is a way of eliminating an opposing view, in my opinion.
If one thinks that banks should be in the commodity business, then we have a different opinion of what function that banks should play in society, in my opinion.
I knew it would happen.
Gold $1237.
Platinum $931.
My Adolph A. Weinman signature
The spread between gold and platinum has now exceeded $300, and continues to widen!
Gold $1237.
Platinum $931.
I think Platinum is a good deal at this point.
(If you can get it with a reasonable premium)
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Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
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I think Platinum is a good deal at this point.
(If you can get it with a reasonable premium)
U.S. Platinum Eagles still carry a high premium, some platinum coins from other countries have somewhat lower premiums. Overall the buy/sell spread on platinum coins is higher than on gold and silver, so exchange traded funds are more reasonable in that respect.
My Adolph A. Weinman signature
My YouTube Channel
Gold $1286.
Platinum $975.
My Adolph A. Weinman signature
The spread between gold and platinum is now $311, the widest I can remember!
Gold $1286.
Platinum $975.
It's crazy, I have been tempted to buy some plat bullion.
The Mint is set to issue a plat on 6/30 I am in for a couple.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
Never bought from the mint. Do they have a crazy premium on plat eagles like the secondary market does?
$1350 if plat spot holds between $950 and $1000.
Not really much risk here, bullion 1 oz. platinum eagles are fetching around $1200 to $1250 at the moment.
My Adolph A. Weinman signature
Never bought from the mint. Do they have a crazy premium on plat eagles like the secondary market does?
$1350 if plat spot holds between $950 and $1000.
Not really much risk here, bullion 1 oz. platinum eagles are fetching around $1200 to $1250 at the moment.
Sure the seven people that want them will pay that
Never bought from the mint. Do they have a crazy premium on plat eagles like the secondary market does?
$1350 if plat spot holds between $950 and $1000.
Not really much risk here, bullion 1 oz. platinum eagles are fetching around $1200 to $1250 at the moment.
Sure the seven people that want them will pay that
7 eBay buyers did just that. In the last 2 days. eBay completed $100 Pt
Never bought from the mint. Do they have a crazy premium on plat eagles like the secondary market does?
$1350 if plat spot holds between $950 and $1000.
Not really much risk here, bullion 1 oz. platinum eagles are fetching around $1200 to $1250 at the moment.
Sure the seven people that want them will pay that
7 eBay buyers did just that. In the last 2 days. eBay completed $100 Pt
I know i searched
If there were 7 sales of platinum ebay will show all 7 , if there were 2000 of gold ebay might show one tenth.
They do sell at that price but thats not exactly a sign of liquidity.
My Adolph A. Weinman signature
The lack of liquidity for platinum eagles is in great measure due to the lack of supply. I suspect there would be quite a bit of demand if the government treated them as the bullion coins they're supposed to be, rather than as a once-a-year art canvas. A one-off mintage of 16,900 one-ounce plats in 2014 constitutes the only appearance of the bullion version in the past seven years.
I agree with that but if there was a ton of interest at the high markups the mint gets why didnt they make more then?
I've read within the past week that there's a shortage of platinum, which might explain why they are only making the high premium collector proofs.
For the Mint, any convenient excuse will do.
I knew it would happen.
I've read within the past week that there's a shortage of platinum, which might explain why they are only making the high premium collector proofs.
The current price of platinum tells me there is no shortage.
5 year chart
My Adolph A. Weinman signature
The spread between gold and platinum is now $311, the widest I can remember!
Gold $1286.
Platinum $975.
It's crazy, I have been tempted to buy some plat bullion.
The Mint is set to issue a plat on 6/30 I am in for a couple.
Don't 'buy' platinum, but rather, trade your gold for platinum.
This way, not only are you taking advantage of the low platinum price, but you're getting the extra benefit of accumulating more platinum than at any other historical time.
Then when prices (or ratios) level off to their historical norms, trade back the platinum to gold.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
The spread between gold and platinum is now $311, the widest I can remember!
Gold $1286.
Platinum $975.
It's crazy, I have been tempted to buy some plat bullion.
The Mint is set to issue a plat on 6/30 I am in for a couple.
Don't 'buy' platinum, but rather, trade your gold for platinum.
This way, not only are you taking advantage of the low platinum price, but you're getting the extra benefit of accumulating more platinum than at any other historical time.
Then when prices (or ratios) level off to their historical norms, trade back the platinum to gold.
Solid advice, thank you.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
This way, not only are you taking advantage of the low platinum price, but you're getting the extra benefit of accumulating more platinum than at any other historical time.
Then when prices (or ratios) level off to their historical norms, trade back the platinum to gold.
It would be a bit more conservative to hold your gold and just go ahead & buy a little platinum.
Consider the transaction costs, and tax implications. Always. (i.e., don't unnecessarily churn the account).
I knew it would happen.
Now $1136, only $202 below the price of gold, starting to close the gap.
My Adolph A. Weinman signature
Platinum is spiking up hard!
Now $1136, only $202 below the price of gold, starting to close the gap.
Fresh break out in plat and platinum miners/producers like SWC. Plat looks headed to the $1350-$1375 region. And there's good reason for it to get back to at least get back to the gold price. The 1 yr chart is quite symmetric. Next major resistance is around the 5 yr down trend line at $1200/oz.
1 yr Plat chart
3 month and 11 month pattern break outs. Good call by Jmski52 back in January, which was also the bottom for gold and miners.
Plat vs. other PM issues
I knew it would happen.
Link
Now about $200 behind gold.
My Adolph A. Weinman signature
My Adolph A. Weinman signature
Knowledge is the enemy of fear
It's a thinner market, for sure.
I like to see the reaction vs proaction on this forum. Predictability is a prerequisite of success.
What's your proactive move? Mine is that I've been selling some low-end and extra stuff to generate liquid capital while trying to stay tax-neutral. I've also been adding some of the last few Plats that I need.
I'll be buying some more bullion before too long.
I knew it would happen.
Platinum $1036.
Gold $1339.
The gap between the two has widened by $100 in less than seven weeks.
My Adolph A. Weinman signature
I knew it would happen.
Platinum is now $322 below gold. Lowest I can remember.
Gold $1254.
Platinum $932.
It takes 4 ounces of platinum to buy 3 ounces of gold.
How low can it go?
My Adolph A. Weinman signature
About 9 days until the election:
Gold $1,274.70
Platinum $ 977.00
Friday's move was Gold +6.60; Platinum's was +15.00.
Current Spread: $297.70
I knew it would happen.