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Bought some Palladium today

CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
in Precious Metals
Decided to put my money where my mouth is and bought 25 ozs of Palladium today. I have written here and in COINage about how the U.S. Treasury has to issue a one ounce palladium bullion coin this year, so I figure that at some point the Treasury has to buy the metal.
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.

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I see your point, however, would they not have already secured the metal from some source??

    Cheers, RickO
  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    I can see by the price that you did.image Please stay away from Silver & Gold.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
    Originally posted by: ricko

    I see your point, however, would they not have already secured the metal from some source??

    Cheers, RickO




    The way the law reads, the Treasury has to buy all that the two mines in America want to sell it. That will reduce the supply available until the coins are issued, and then they will have a higher markup than newly mined raw palladium.
    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.
  • MilesWaitsMilesWaits Posts: 5,356 ✭✭✭✭✭
    Way to go, El Captain.

    I personally love the maples. Regardless of speculation, hope or dreams.
    Now riding the swell in PM's and surf.
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    What form did you buy it in?

    My Adolph A. Weinman signature :)

  • CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
    Pamp bars.
    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.
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    I'm averse to palladium, but that's just me. What kind of premium did you pay?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
    Originally posted by: jmski52

    I'm averse to palladium, but that's just me. What kind of premium did you pay?




    I got a special price from my former employer, Harlan J. Berk, Ltd., who did them at cost as a courtesy.
    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.
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    A quick look at spreads for 10 oz or more shows a spread of about 8.3% for palladium and a spread of about 4% for platinum in name brand 1 oz. bars. That's still one of the reasons that I gave up on palladium, not as much liquidity. Getting them at cost helps a lot, though. Good luck.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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