Why continue to buy platinum coins

you know that 90 % of collections dont reach that far

 

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I disagree.

Have you tried to buy gold or platinum lately? You simply cannot buy the physical thing for anywhere near the current spot price. Right now we are paying more than $200 over spot for proof AGE's and we can't keep them in stock. Additionally, I called around yesterday trying to buy a couple ounces of platinum for a friend and the best price I was quoted was $100 over spot and that guy didn't have any to sell even though he works for one of the mint's distributors and just 3 weeks ago they'd gotten a huge shipment from the mint.

If you can afford to buy gold or especially platinum, now is the right time, especially if you can get it anywhere near spot.

The current market has the feel of manipulation, which cannot last forever.

 

The current precious metal prices goes against everything I've been told about economics (and common sense even). Historically when times have gotten tough, people dump all their cash into gold and silver. Well, now we're dealing with the worst economic crisis since the great depression and precious metal prices are dropping, yet you can't find any physical bullion to buy anywhere near spot??

This is the kind of thing that conspiracy theories are made of...

 

I agree with Cave Troll. I went into my local coin shop yesterday and was asking for any precious metals anywhere near spot price and the dealer just laughed. He said that the value of these metals were "paper prices". You can't buy or find any coins anywhere near bullion price. Then I made a comment to him that it is ironic that dealers are very quick to pay someone spot minus 10% for their coins, but try to resell it at spot plus 50-60% and say that it is because the prices are "paper prices". The closest that I can get to spot price for any bullion is silver, which I can find and buy 1oz silver rounds (not ASEs) for $12-15. I asked him also about the 09 ASEs that will come out and what his thought was about them. He said that he would probably still charge $20-22 for each one... even when silver was down. Funny, the last time silver was this low, I remember buy ASEs from him for $15.

 

you can buy it on the spot market but you have to pay to take it home.

Ruben

 

I didn't hear that. They'd have to dump metal reserves onto the market, most of which most Nation States don't have.

I think we're just seeing that Metals are now viewed as any other commodity in the market now and nobody is buying. I could be wrong. If you have a source I'd be interested.

Ruben

 

ROFL

Barron's, WSJ, Fed Report? EU pronouncments? The Liverpool Daily Record?

Ruben

 

I don't think world governments have enough stores to have that kind of affect on world markets on metals or Oil. I think that the near stop of industrial production joined with the decrease in stock values that would be needed to convert to cash to buy metals is what caused to collapse of the commedities market.

If they wanted to increase gold they could. Decreases it? I don't think they have that reserve and I'm not convinced they care any more. Try to buy a quart of milk with gold.

Ruben

 

I think you 2 are both missing the most important part of your whole discussion. Do either of you realize that the price of oil barely rose in the last year for most of the world. It rose in the USA (along with most raw materials) because the value of the dollar dropped drastically. Now that the dollar has returned to it previous value, look at what has happened to the metal, oil, and other raw material prices. Funny how well they correlate.

 

Last week while appearing before Congress, Bernanke admitted that central banks around the world are selling gold reserves. This is obviously a big contributor to the lower price. Last time I checked, the central banks reported holdings of around 35,000 tonnes of gold, so I guess they have enough to lower the price.

Whenever two or more people agree to act in concert, that would technically be a consipiracy, so I guess I believe in conspiracies. These "coincidence theorists" running around these days are out of touch with reality.:whistle:

 

I personally believe that silver has a timeless value as much as gold does. It seems to be a bargain if you can get it anywhere close to spot. Interestingly, gold, silver and copper are all in the same column of the periodic table of elements. People around the world used all three as money long before the periodic table was developed.

 

i get so sick of this.

The US reserves are about 6,000 tons of gold which is 5% of the volume sold on world markets on a good day buy about


Meanwhile, care to guess what the industrial and jewery use of gold daily?

Ruben

 

Where do you get your info Ruben?

 

As I said, world central bank reserves of gold are larger than your number. You can easily find Bernanke's testamony on youtube if you don't mind letting facts get in the way of your world view.

 

Ruben's number for the US reserves is correct (or at least real close). Your number for the world appears to be a little high, but could be right since all I could find is 2005 numbers here;
http://www.gata.org/node/104
However, Ruben's net sales figures appear to be way out of line. He is saying that there are 120,000 tons sold each DAY. (5% = 6,000 tons ; 1005 = 120,000 tons) Reading between the lines in the above reference, they are saying there are about 500 tons sold each YEAR.

 

i think we are all wasting our time here since it is obvious we never will have the full numbers or we wouldnt need to be here. like everything including coins there is no real price only a price of what yu can get it for like i am paying 5 oz of silver to be able to post on coin talk