Possible trade for Platinum

asheland

I have a friend that has this set:


He is willing to trade it to me for exactly 100 ounces of silver. It would be mostly junk silver I traded and 20 or 30 ounces would be bars and rounds. What do you guys think? Good deal? I can't decide if I want to trade or not.

I know the silver is a lot more liquid, but I like this Platinum set... Decisions decisions.

goodmoney4badmoney

I would do it if I had the 100 oz of silver as you describe.

derryb

spot-for-spot it's an even trade. Depends on which one you place a higher premium. I would guess the platinum eagles carry a much higher premium than generic silver.

MorganMan94

Do it! That's a smoking deal for you. Or introduce me to your friend, even better

Timbuk3

I would do a trade !!!

mbogoman

Yeah, I would take that trade any day...

ricko

That sounds like a fair deal..... If you are both happy, go for it.... Cheers, RickO

bronco2078

pass unless you need to free up storage space . Liquidity way higher on the silver .

KollectorKing

@asheland said:
I have a friend that has this set:


He is willing to trade it to me for exactly 100 ounces of silver. It would be mostly junk silver I traded and 20 or 30 ounces would be bars and rounds. What do you guys think? Good deal? I can't decide if I want to trade or not.

I know the silver is a lot more liquid, but I like this Platinum set... Decisions decisions.

Go for if you like the deal. Junk silver is readily available 24/7, 365-6 days a year.

mkman123

Nope I wouldn't do it. Silver is much more liquidable

asheland

Thanks everybody! I'm leaning more toward trading. I'll post again if I end up doing the deal.

asheland

The liquidity is the only thing keeping me back. But I really like the Platinum and it's not all of my silver.
Still thinking it over.

bronco2078

A platinum tombstone too hard to sell . Here's how that goes in my mind. No one wants to buy the whole set they make offers at parts of it. When you finally give in and sell the oz. everyone will say oh I'd pay a premium for all 4 but not a partial set.

mkman123

@asheland I see more people wanting silver than wanting platinum......even at small local shows. Far easier to sell your junk silver or silver bars and I think your friend knows that, thats why they want to get rid of it and get something more liquidable

bronco2078

@mkman123 said:
@asheland I see more people wanting silver than wanting platinum......even at small local shows. Far easier to sell your junk silver or silver bars and I think your friend knows that, thats why they want to get rid of it and get something more liquidable

Thats a good point , if its so great why is he willing to swap even for dead common silver? With friends like that who needs enemies?

BruceS

I would keep the 100 ounces for sure. Now if it was a graded 70 set in PCGS plastic I may consider it. Other than that its just metal for metal with no numismatic premium.

Kkathyl

Good deal IMHO

cohodk

You can dump the Plat at any established coin shop at spot anytime. It's liquid.

jmski52

If the values are equal per melt, it's really a decision that needs to consider your overall metals holdings. The platinum is not a "set". It's 4 individual coins in a common holder, but it's not a set. I'm a little concerned about the liquidity, but if what cohodk says is 100% accurate, the decision really comes down to your personal preference for the "mix" of gold/silver/platinum that you want.

I like the compactness and density of platinum, same as gold. I like that platinum is oversold at the moment, but that's not to say that silver isn't oversold as well. For as long as I've been investing in platinum, I can say that it's price movements pretty much mirror what silver does, for somewhat similar reasons.

The thing about platinum is that, because of potential liquidity issues you might want to keep it's percentage manageable in your portfolio. I'd also say that you should keep your percentage of silver manageable as well, but not because of liquidity - mainly because of storage space considerations.

1630Boston

A lot of aspects to be considered here

asheland

Thanks everybody! I'm still undecided.

bronco2078

if the guy who has the platinum now is willing to give up the premium over spot in an even up trade then its logical to assume he can't get a premium or he would do so.

@cohodk said:
You can dump the Plat at any established coin shop at spot anytime. It's liquid.

Probably true in a major urban area or through a big dealer like APMEX but depending on where you live and how your state taxes these types of sales that will put you somewhere back of spot.

Mr. Platinum wants generic or junk silver then he thinks that exchanging platinum for that even up is him winning the trade. Which means you would be losing from his point of view. Trading even up for generic silver represents his best possible outcome . I think that means he views generic silver as a better investment than platinum . Agree with his view and don't make the trade.

Just for the heck of it drag your feet and see if he sweetens the pot to make the deal and then refuse anyway knowing you dodged a bullet.

asheland

Probably wouldn't do any better. He's really just doing this for me as a friend. I doubt he would do this same deal for a stranger.

rawteam1

No dealer in their right mind would pay spot for that set...

jmski52

Scotsman is paying 1% to 4% over spot for Plats, depending on the denomination. However, one thing I learned about buying prices published online - the dealer always leaves himself an out if "inventory levels" dictate that they won't pay the published price at the time of your inquiry. This happened to me recently at Apmex. They wouldn't honor their published internet price, so I sold my coins elsewhere. (This happened just weeks ago, btw.)

derryb

It's a no brainer. It's not like you're trading generic silver for generic platinum.

Pokermandude

Junk silver practically grows on trees. I will pretty much always take a spot to spot trade when it's pure metal coming my way in exchange for my impure metal. Considering it is platinum and including fractional pieces makes it a no-brainer!

hchcoin

I think the set looks cool and I would do it. I also agree with @Pokermandude

VanHalen

You've got a $1700 melt value group of American Eagles vs $1675 melt in junk silver. It's a good deal for you - go for it.

Coinstartled

@asheland said:
Thanks everybody! I'm still undecided.

Take the plat....leave it at that.

jmski52

The fact that you're still undecided tells me that it's a "wash" in your mind. If it's not motivating enough, don't do it.

asheland

@jmski52 I actually decided to pass and let another person get the set who wanted it, so I'm content with that.
I'm happy to hold my silver for now. Thanks everybody for the opinions.