$100 Platinum 1oz Eagles, 2008 and prior "brilliant uncirculated"... I bought one

Payed 1802.xx. Gold is gonna crash eventually, and Pt is actually useful (yes you can shield spaceships w gold but what else? not much). Don't get me wrong I own 2 Scotia Mocotia Gold bullion rounds (.9999 fine) but hasn't anybody noticed gold peaking @ 1250 recently????

 

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Will have pics by next wed.

 

I beg to differ with your overly confident statements to support your choice of metal for investment.

No one can say what will happen with any one commodity or investment vehicle any more than does your addition of 'eventuality' act to qualify such a grossly generalized speculative comment. We see a lot of this sort of thing in forums and your comments are far from unique in their thinly supported reasoning. Check out grain and what's going on in Russia, right now, with that commodity. Grain may prove to have been better than metals to be invested in, but it remains to be seen. However, grain is every bit as useful, as are others, that sustain life and stave off hunger. Yes, your chosen metal to invest in is "useful" industrially, but not necessarily useful for industry in the sense of bars and/or rounds that you are currently holding them back from industry. In that form, they are most useful for a store of your wealth. To claim reasons for your choice of metal based on industrial practicality is an misdirected perception of what you are holding it for. Gold has scores of uses, amongst them, use in dentistry, which comes in handy for eating other commodities and sustaining one's life in order to make sound investments and protect one's hard earned wealth!

Here's just one link that you may apprise yourself of The Many Uses of Gold and so we don't leave anyone out, here's one for the silver bugs too.

 

Critical Thinking

Great post Krispy.

I think you and Cloud would really like a podcast that I found recently. It doesn't have an (known to me) agenda other than the encouragement of critical thinking. A recent (5 minute) episode was focused on the "Logical Fallacies" used to support views that lack evidence.

You and Cloud do a great job of fighting some of these logical anomalies (ie. people that just KNOW :rollling: something is true) and thought you would like to see some of the tools used by those that lack evidence to support their views. Some of these tools are;

• The Straw Man Argument
  Starling says: "People who commit minor offenses should be let out of jail sooner."
  Bombo replies: "Emptying out all the jails would create havoc in society."
• Ad Hominem
  Starling: "I think Volvos are fine automobiles."
  Bombo: "Of course you'd say that; you're from Sweden."
• Appeal to Authority
  "4 out of 5 dentists agree that X is good for your teeth!"
• Special Pleading
  Starling: "Homeopathy should be tested with clinical trials."
  Bombo: "Clinical trials are not adequate to test the true nature of homeopathy."
• Anecdotal Evidence
  "I know for a fact that ghosts exist. My friend, who is a very reliable person, has seen ghosts on many occasions."
• Observational Selection
  Bombo: "The face of Satan is clearly visible in the smoke billowing from the World Trade Center."
  Starling: "And in one of the other 950,000 frames of film, the smoke looks like J. Edgar Hoover; in another, it looks like a Windows XP icon; and in another it looks like a map of Paris."
• Appeal to Ignorance
  Anything that is insufficiently explained or insufficiently understood is thus impossible.
• Non-Sequitur
  "Corporations are evil, thus acupuncture is good."
  "The government is evil, thus UFOs are alien spacecraft."
  "Allah is great, thus all Christians should be killed.
• Post Hoc
  Starling: "I bought this car from you, and the heater is broken."
  Bombo: "It worked before you bought it, so you must have broken it yourself."
• Confusion of Correlation and Causation
  Starling: "Chinese people eat a lot of rice."
  Bombo: "Therefore the consumption of rice must cause black hair."
• Slippery Slope
  Starling: "It should be illegal to sell alternative therapies that don't work."
  Bombo: "If that happened, any minority group could make it illegal to sell anything they don't happen to like."

I bet at sometime, we have all used some of these tools to help support a view that we lacked data on. Understanding these tools usage will help all of us learn to support and express our views in a respectful and intelligent way.

 

Thank you. :smile I will definitely check that podcast/link out. :thumb:

 

I don't pretend to KNOW that platinum will be a better investment than gold, but the fact that so many people are buying these gold buffalo's and gold Eagle's while very few are buying Platinum Eagle's means that more than likely the Platinum Eagle's that go unsold will be melted down into bullion... making them all the more rare. A 2008 PCGS MS-69 Platinum Eagle retails for 1950, tax included and it's 2 years old! You can't tell me a 2008 MS-69 Gold buffalo is gonna come close to that, and the fact is people are collecting SO MANY of these gold coins that they won't go up in value until people start selling them as bullion, which could take years according to you. You're deluding yourself if you think ANY commodity can rise the way gold has and just keep on rising. I really don't care how much gold china or india is buying, the fact is it's so close to Platinum in price it's a stupid investment when history shows that platinum is usually 2-3x the price of gold. Eventually mean WITHIN A YEAR OR 2, with 90% probability that it happens within a year.

I can understand how worried you are, I own a HUGE amount of gold and because I purchased it via dubai and had it "shipped" in via a friend I'm having a LOT of trouble getting it sold w/o paying the IRS massive amounts of money, which was the whole point of going to dubai anyway... but I payed less than 320/oz back in 2000 and regardless of what happens to gold I can bet that my 10kg bars will eventually pan out. It will just take time.

I'm talking about coins, not bullion, when I refer to the damage gold's crash will reap on all the people who payed near Platinum prices for a metal that hasn't seen this inflation adjusted level in a long, long time. Gold does well when the economy is crap, so if your betting on our economy being horrible and deflation then please, purchase away. Pre-1933 gold is a whole different animal... but mondern gold coins, apart from chinese pandas, are a waste when you can spend 300 more and get uncirculated platinum coins. Platinum is (and I proved this in another thread) used mostly for car emissions... what goes up every year along with car emissions? HP! WHY? MORE Platinum in the Cat. If there is anything you can believe in it's the world auto industry and the demand for platinum will eventually overcome the bad economy, recovery or not. Platinum is also 100x harder to produce than gold... apart from the Urals and Choco Culumbia THERE ARE NO PLACER DEPOSITS of platinum. It's superior in every way except appearance, and once you alloy gold with copper it looks red, silver/palladium/platinum it looks white. Gold is a vanity item, and the demand for it is mostly due to the dollar on the verge of deflation along with our economy having a hard time starting up again. It takes time for corperations, whether they are making money or not, to start hiring again and we are in the void between when corperations have started to post gains and when they start hiring. Once they start hiring, bam the economy will go up, gold will go back to a reasonable price, and platinum will SKYROCKET. if you look at the max platinum has ever been it's 2400/oz.... adjust that for inflation and you have nearly 4k/oz. And even if platinum stays at it's meager level, 1oz Platinum eaagles will be far far rarer than 1oz gold eagles... the government thinks 2x as much? Does your coin say $100 on it? Didn't think so.

 

That was nearly incomprehensible. Let's keep this simple. We are in the 'Bullion Investing' section and are talking about investments in PMs not collectible coins. You are flip flopping between the two and it presents many issues to a straightforward discussion.

There are a number of factors apart from pure investment in physical bullion that determine values, demand and growth potential when we discuss collectible coins. Collectible coins are (usually) a terrible thing to invest in and tend to fail most any who choose that route, especially if they go about it seeking easy profits. It is far easier to talk of PMs in the Bullion section where numismatic premiums and related issues do not interfere. The coin chat section of CT is better for collectible discussion and similarly, they do not (typically) discuss bullion there. Incidentally, platinum eagles have a much lower mintage than do gold Eagles and generally all sell out, and quickly once released.

Unlike you, I have made no claims about what any commodity will do so assuming that I am 'deluding' myself or 'worried' about anything based on statements I haven't even made is faulty on your behalf. Do not project your ideas onto the framework of my posts in this regard. Do not think that any PM cannot be surpassed by another thing, particularly those things that are fundamental to life: food and water, just give it the right scenario. PMs will not satiate thirst nor hunger in the worst of the worst situations and those very things can quickly become equal to or even surpass the value to metals. Let us hope that never happens and if it does that your metals would actually be accepted by others to buy the very things your life would depend upon.

I'm not telling you that platinum is wrong. Instead it's your perception of one commodity above another and your cumbersome presentation that is making extremely confused sounding statements, effectively working to confuse others and to hobble this discussion. The last paragraph is pure diatribe about platinum which this forum is quite aware of already. In other words, you needn't preach platinum's industrial uses to the choir. The degree of affection you shower on that one metal's superiority is a weak argument attempting to support your personal belief in one metal over others. Placing too much faith in any one investment vehicle is hazard. I can read through and understand the points you are addressing in the last segment of post #6, but the manner in which it is spewed out leaping from one thing to another makes this a dead conversation, one in which you are only talking at us.

Lastly, I don't need to be convinced by you that you have made the right decision for yourself, but you seem to want others to agree with you to justify your decision and that is something only you can do for yourself. :smile You may do very well with your investment as you have declared it here and I sincerely hope everyone does well in their own way, but if you don't do as well as you expect to, then please do not return to blame others if your decision does not follow the plan you've laid out above.

 

at $1,892.00 each. you are paying like 25% over spot. currently platinum is at $1,512.00 per ounce.

 

Gold Coin Prices to Increase, Platinum Coin Prices to Decrease from MintNewsBlog [August 18, 2010]

 

if i have one. i will just return it. never like platinum.

 

agreed

 

I did have a hard time following a lot of that, it still seems like a lot of conjecture without major facts. Here is the one part that I totally disagree with...

Sorry, I like the look of platinum better

 

Yes, that is indeed one, amongst several, subjective points leveled by the OP. That point further underscores the misdirected perception the OP has about discussing and investing in bullion where decisions should be devoid of aesthetic reasoning.

 

i didn't read past the part that said gold is isn't useful!

you won't have to go to far to find the first product that contains gold(excluding jewelery). assuming you are reading this at your computer, you are using a device that contains gold. think about how many things are controlled buy computers and how many people use them, this is the computer age.

 

how much gold is in a laptop and where at?

 

I believe a lot of the gold is in contacts in electronics....I think you can find a video of the recycling process on youtube if you want to seek it out... pretty cool stuff

 

Just got it and it's a '98 (highest mintage, but 12 yo). It's in "uncirculated condition"... although it's no MS-70 under 10x. I'd be lucky to get MS-69... my guess is 67-69 depending on what PCGS thinks is a big prob vs a small one... it has a few VERY small scratches (only visible under 10x) in the backround surrounding the eagle and on the front surrounding the Statue of Liberty. I counted a total of 5 errors. Will post pics tommorrow when the light is good.

Ignoring guy who said bullion/coin is a different topic... they merge in this coin. Didn't bother to read his post. This is the ONLY coin you can put in an IRA as an investment in the coin's value over time... vs the metal.

Anyway, IMHO platinum isn't as pretty as gold but it's just as good as silver and it never tarnishes. If you like that look (and the sales of white gold will tell you a good majority of people perfer it), there is no metal better for jewlery. It's hard to work, but the results are worth it. I think you guys will like the appearance of this 12 yo coin... pretty amazing it lasted this long in this condition.

 

BTW I don't want to have to go to wikipedia and prove you all wrong about the usage of platinum. Go there yourself and learn. Then go to gold and look at usage. as of 2006 80% of platinum was used for industrial purposes. Gold isn't even close.

 

So, I saw;

• 2 - Straw Man Arguments ("you cant tell me")
• 4 - Special Pleadings (car industry, ect)
• 2 - Correlation and Causation Misuse
• 1 - Non-Sequitur (coin denominational)
• possibly 1 Ad Hominem, but I kept getting confused

Feel free to correct me.

 

It must be nice living in your own isolated fantasy world of made up erroneous beliefs. "Ignorance is bliss" or so they say. So why are you here then? Is it to preach and show off about something rather than to discuss like interests? To float your own boat and not listen to the perspectives that surround you? Good luck winning converts to your arguments in a forum designed to share ideas.

You totally fail to see that any coin which has an intrinsic precious metals value also merges with numismatic aspects and can be regarded in such manner... but do please refrain from discussing your coins numismatic topics in the "bullion investing" forums for reasons stated in the earlier post that I'm sure you read but are too-cool-for-school to acknowledge otherwise how would you know to "ignore" it. I might have praised you and your ideas afterall! Nope! Ain't gonna happen. If you wish to discuss (or to preach) your coins' numismatic aspects, then post a thread in the Coin Chat forum.

Again, you fail to understand or choose blatantly not to understand, that GOLD not "only" platinum, is something one may elect to put into an IRA. Gold Eagles are capable of the exact same thing as are Platinum eagles, although you will find many arguments here on CT that caution against placing physical coin bullion into an IRA due to taxation and privacy related issues.

Wow! An astonishing admission of foolish statements, concepts and the piling on of gibberish in the form of subjective beliefs to this most enlightening thread! :rollling:

It nice that you have your own unique ideas but please stop confusing others with your misunderstood concepts. I'm just replying to rectify what mess you have been spewing.