Platinum premium is high now but varies over the years, although Pt itself seems rangebound. A couple years ago I picked up a pile of 1oz Plat Eagles on Ebay from reputable sellers in the 1040-1080 range, about a $100 premium per coin, no tax, free shipping. Waiting for $1500 spot and I think it will arrive sooner than later.
price goes down premium goes up? how do you raise a premium on something people despise and at the same time do not need?
good work if you can get it . valuable lesson people who can't admit they might have been wrong will pay any premium to maintain a fiction and just hope they can hold out until they die .The heirs liquidate grampy's collection and buy a large cheese pizza WITH EVERYTHING
It works with silver and gold too
premium as a percent is how you need to look at it , not premium in dollars
I know a guy who tries to unload his stash on me every few months. I politely turn him down because he thinks I'm a moron. I'm actually polite in person not like online
A few years ago silver about 22 or so he wants to sell bars to me . 10 oz bars he wants 250 each I offer 200 because why would i pay a premium for 10 oz bars(sealed in plastic) who wants bars sealed in plastic ?
I gotta get 25 an ounce to break even he says ! Get it elsewhere I says what would i do with all that? I can't buy it to flip if you want over spot
In december 2024 he calls me to offer 10 ounce bars , he has to get 35 an ounce "to break even" I say did you ever sell those other 65 ten ounce bars in plastic bars at 25 an ounce ? did you break even ?
long pause these are different bars
This guy has graded platinum 1 oz coins , the ones with the cool designs from like 20 years ago.
He could have sold at 2000
meanwhile here on earth , the back room in his house has a leaky roof , he has a 5 gallon bucket under the leak. If he sells metal he will probably go to home depot and buy a 5 gallon bucket for 29 bucks , he won't fix the hole
His name is Wes , he is about 75 ,don't be like Wes
@bronco2078 said:
price goes down premium goes up? how do you raise a premium on something people despise and at the same >time do not need?
Because the underlying metal price falls faster than the price of the coin/bar. The premium might even fall in nominal dollar terms, but as a % of the total price that falls lower.
Prices are often "sticky to the downside" much like wages are in an economy.
premium as a percent is how you need to look at it , not premium in dollars
Sure, but the total $$$ fall but the premium as a % rises or falls less. See below.
@bronco2078 said:
price goes down premium goes up? how do you raise a premium on something people despise and at the same >time do not need?
Because the underlying metal price falls faster than the price of the coin/bar. The premium might even fall in nominal dollar terms, but as a % of the total price that falls lower.
Prices are often "sticky to the downside" much like wages are in an economy.
premium as a percent is how you need to look at it , not premium in dollars
Sure, but the total $$$ fall but the premium as a % rises or falls less. See below.
buyers have to play along tho, with gold or silver i can see it but i don't get it in such an il-liquid market as platinum
seller wants price stickiness in all markets for sure but there are only 4 people in the united states buying platinum coins and they want a bargain
too complicated to untangle the coin premium from the slab ( ) premium
why anyone needs a slab on a saint puzzles me unless they are all in on the ms 65 koolaid
which reminds me of my friend with the silver 10 oz bars. I asked why he wanted bars sealed in packaging , he says so i know they are real
i said "you think china can fake a silver bar but not a plastic bag?"
I have always liked the metal just for the coolness of how rare it is and just how it looks slightly different than silver. I’ve always been intrigued by it, I think if you can get it close to spot at $1000 an ounce or less I just think it’s irresistible.
I was fortunate to pick this up for $500, it’s a 70 grade, beautiful design, and a mintage of just a pinch over 4000 coins…
I’m loving purchases like this, granted I am in a sweet spot for picking stuff up working at a B&M…
Comments
Last chance.
Knowledge is the enemy of fear
I'd love to see my platinum eagles lose their premiums because of a large price rise.
I knew it would happen.
Platinum premium is high now but varies over the years, although Pt itself seems rangebound. A couple years ago I picked up a pile of 1oz Plat Eagles on Ebay from reputable sellers in the 1040-1080 range, about a $100 premium per coin, no tax, free shipping. Waiting for $1500 spot and I think it will arrive sooner than later.
price goes down premium goes up? how do you raise a premium on something people despise and at the same time do not need?
good work if you can get it . valuable lesson people who can't admit they might have been wrong will pay any premium to maintain a fiction and just hope they can hold out until they die .The heirs liquidate grampy's collection and buy a large cheese pizza WITH EVERYTHING
It works with silver and gold too
premium as a percent is how you need to look at it , not premium in dollars
I know a guy who tries to unload his stash on me every few months. I politely turn him down because he thinks I'm a moron. I'm actually polite in person not like online
A few years ago silver about 22 or so he wants to sell bars to me . 10 oz bars he wants 250 each I offer 200 because why would i pay a premium for 10 oz bars(sealed in plastic) who wants bars sealed in plastic ?
I gotta get 25 an ounce to break even he says ! Get it elsewhere I says what would i do with all that? I can't buy it to flip if you want over spot
In december 2024 he calls me to offer 10 ounce bars , he has to get 35 an ounce "to break even" I say did you ever sell those other 65 ten ounce bars in plastic bars at 25 an ounce ? did you break even ?
long pause these are different bars
This guy has graded platinum 1 oz coins , the ones with the cool designs from like 20 years ago.
He could have sold at 2000
meanwhile here on earth , the back room in his house has a leaky roof , he has a 5 gallon bucket under the leak. If he sells metal he will probably go to home depot and buy a 5 gallon bucket for 29 bucks , he won't fix the hole
His name is Wes , he is about 75 ,don't be like Wes
Because the underlying metal price falls faster than the price of the coin/bar. The premium might even fall in nominal dollar terms, but as a % of the total price that falls lower.
Prices are often "sticky to the downside" much like wages are in an economy.
Sure, but the total $$$ fall but the premium as a % rises or falls less. See below.
No.
buyers have to play along tho, with gold or silver i can see it but i don't get it in such an il-liquid market as platinum
seller wants price stickiness in all markets for sure but there are only 4 people in the united states buying platinum coins and they want a bargain
too complicated to untangle the coin premium from the slab (
) premium
why anyone needs a slab on a saint puzzles me unless they are all in on the ms 65 koolaid
which reminds me of my friend with the silver 10 oz bars. I asked why he wanted bars sealed in packaging , he says so i know they are real
i said "you think china can fake a silver bar but not a plastic bag?"
inquiring minds want to know these things
Confirms the grade....and the holder makes it easier to handle and look at. How long before a raw coin gets dropped and then damaged, right ?
I think common date anything are melt value items, drop it as many times as you like as long its not landing in a woodchipper
grade be damned , i'll confirm for myself if its gold
Last Sunday, a 1 oz. 2001 MS-70 Platinum Eagle sold for $70,500 on GC.
Not too long ago, a couple of 1 oz. 1998 MS-70 Platinum Eagles sold in the mid-$30,000 range on two separate occasions.
Not exactly "common date" coins, but as a market indicator the Platinum Eagle series isn't quite dead.
I knew it would happen.
Platinum is a cyclical, and fingers will get burned for those who think otherwise.
My crystal ball remains cloudy... but seems to have a golden glow once in awhile!
I have always liked the metal just for the coolness of how rare it is and just how it looks slightly different than silver. I’ve always been intrigued by it, I think if you can get it close to spot at $1000 an ounce or less I just think it’s irresistible.
I was fortunate to pick this up for $500, it’s a 70 grade, beautiful design, and a mintage of just a pinch over 4000 coins…
I’m loving purchases like this, granted I am in a sweet spot for picking stuff up working at a B&M…
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