When you look at the current numbers there not very impressive ! Palladium which use to be the top dog on the block is now mediocre , with a top per OZ of $3,440 is now pretty pathedic at $1,350. And Platinum isnt much better, top price $2,923 and now $1,770 per OZ, though it has recovered somewhat from lows in the $900 i still think its on the weak side in comparison to GOLD. The declines are for sure tied to the automotive industry and the math seems pretty easy to follow less catalytic converters because of all the electric cars coming on line the demand is less. Heres a couple of my examples i bought these when i wanted to have examples of all popular PM,S but now i consider them more along the lines of novelties.
Platinum and Palladium are commodities, just like oil, wheat, aluminum, and soybeans. Coins were always a novelty. Price will swing around based on supply and demand in useful applications, sitting in a safe not being one of them. Any hope these metals serve the same purpose as gold or other buy and hold investments is easily squashed by market forces. South African worker strikes, Russian sanctions, Dieselgate, etc… all exert far more influence on their price than inflation or investment demand ever will. Investing in commodities directly is highly speculative. Pure elemental PGMs are very fascinating, but aside from any numismatic value from the coin part, the metal itself is not a great “investment”.
I got the platinum coin when it was under 1K, so even if i were to sell it now would still be able to make a nice gain, on the palladium one not so much..LOL
Yeah, I have a couple of smaller pieces but I'll wait for better prices, luckily I don't need any money right now!
