Will the US Mint stop selling the Proof Plat now spot/mint price difference is 9% and dropping?
jessewvu
Posts: 5,065 ✭✭✭✭✭
I see that spot platinum is approx 1466/oz. The mint is selling proof platinum 1oz coins for 1600 which is 9.1% over spot. It seemed that last time they stopped selling the UNC platinum coins, the split was about 7%. Any ideas? Is now a good time to buy them or send the proof 1oz's I bought back?
0
Comments
for ordering ,when spot price
is somewhere between 1475 and 1500.
Camelot
However - - - - If you figure out how to time these sorts of events, please let me know and we can make a killing in the market together.
I knew it would happen.
My official prediction is the mint will pull platinum coins when the spot/issue price falls below 7%.
I know everything above sounds 100% stupid/crazy, no need to comment on it!
<< <i>I don't know what it is, and I am not trying to hype myself up, but I have wanted to buy some bullion to diversify my portfolio a little for about two years now. I just happened to take the plunge, almost to the week, when gold/silver started their climb. I only bought 100oz of silver and 4oz of gold (I am a young buck with limited funds) and the next thing I know, everything is out of control. I used to do those fake stock games and in some, I was the leading money maker in the entire country for the week. I think I turned 100k into 2 million in one week or two and got a stupid subscription to Forbes magazine. I have always had a weird feeling about money/investments they almost always work out. I think I posted a thread a few weeks ago asking if the mint was going to pull gold/platinum coins and sure enough, about two days later they did. I did the same thing on platinum uncs and hesitated to buy because I didn’t have the money to pay cash. Sure enough they pulled those too. I have lots of other examples but it's weird. I am sure it is coincidence but I have never, ever, lost money on an investment in all my life (28 years so far). So, why am I not in investments? I like being an aerospace engineer! I started flipping US Mint stuff on eBay so I could build enough capital to get back into the stock market. I should have enough to start back into stocks by next year.
My official prediction is the mint will pull platinum coins when the spot/issue price falls below 7%.
I know everything above sounds 100% stupid/crazy, no need to comment on it! >>
Call it luck, intuition or whatever...if it works-stick with it. When I hear about Warren Buffett, Peter Lynch and other famous investors, I can't help think that intelligence with a nice hunk of luck help them get to where they are.
Eric
its weight in gold! awesome puppy!
Now that, or him?, is a firm commodity. Futures are bright and playful with lots of chewed up derivatives.
Continue on your intuitive path to choose the right breeds on non-metallic fur.
Miles
<< <i>Eric Jones did a nice analysis of this just a short while ago. His conclusion was that then the melt to mint price spread is in the 5-7% zone, look for the mint to cut off sales for repricing.
Eric >>
As for gold, the spot is within 5% of the Unc W AGE's
Ren
Are you buying to ride the Platinum train and then selling or are you collecting all 1/2 (or whatever) proof platinum years. If it's collecting, then I would buy, because the Mint might raise prices. If it's just to ride the train, there might be cheaper on ebay, selling closer to spot.
You were born during a very strong gold and silver bull market - perhaps that is significant.
Added: Cute pup!
I knew it would happen.