Anyone buying Platinum?

Discussion in 'Bullion Investing' started by Gam3rBlake, Feb 20, 2021.

  1. Gam3rBlake

    Gam3rBlake Well-Known Member

    I’ve stayed away from platinum since about 2015 but back then platinum was trading at about 1 to 1 with gold.

    But now I’ve noticed platinum is ~$1300/oz and gold is ~$1800/oz.

    Is now the time to buy some platinum?

    Do you think it’s more likely for gold to drop or platinum to rise?

    I’ve been thinking of buying 1-2 oz of platinum but it’s been a long time since I bought it so I’m curious what you guys think?
     
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  3. fretboard

    fretboard Defender of Old Coinage!

    wow.gif I had no idea the price had gone up so much! :D I have one 1/4 Platinum Eagle and a couple Platinum 14k gold pendants, one is a 1/20th and the other is 1/10th. Here's the Koala Bear! ;) I know some hate coin jewelry but the profit you can make on these, especially on feebay is insane! :happy:

    koalaa.jpg koalab.jpg
     
  4. Tater

    Tater Coin Collector

    I've been wanting to buy it for a few months now, since November. I am yet to buy any because I can't find any locally and I have refused to pay the high premium. Now I'm thinking that I have or am missing the boat because I refuse to pay $200 an ounce higher than spot.
     
    Two Dogs and Gam3rBlake like this.
  5. Gam3rBlake

    Gam3rBlake Well-Known Member

    You could always go on JM Bullion and pick up a platinum bar for a lower premium.

    Here is one I just found.

    Platinum is currently at $1,283/oz.

    If you send them a check you pay only $69.99/oz over spot which isn’t too bad at all.

    Even with a credit card it’s only $107 over spot.

    I like to use my Discover It Miles credit card sometimes because I get 3% cash back on all purchases for the first 18 months.

    If I buy this 1 oz platinum bar with a credit card I pay $1410.

    Then I get $52 cashback (3%) rewards which makes the actual price $1,358/oz.

    That’s only $75/oz over spot. Not bad at all really.

    04AC8C86-1BEF-46F1-B8B2-80D9DF43CE69.png
     
    capthank likes this.
  6. FryDaddyJr

    FryDaddyJr Junior Member

  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I have been buying a little bit of Platinum each month for the past 3 years, remember when it was the top dog on the block ? then it went way down
    in the $800 range, I think eventually it will make its way back past Gold
    look at palladium.
     
    Tater and FryDaddyJr like this.
  8. FryDaddyJr

    FryDaddyJr Junior Member

    right at this moment the price of the cheapest in stock Pt bar is 1353(valcambi) and the cheapest Pt coin is 1373(Britannia). That's a premium of 70(5.46%) on the bar and 90(7.01%) on the Britannia
     
  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Silver is making great gains as well, a cheaper alternative for the less sophisticated
    investor who just wants to jump in, just not all the way...LOL
     
    fretboard likes this.
  10. fretboard

    fretboard Defender of Old Coinage!

    Yes, November would have been a good time to buy, not right now tho'. :D The 1/4 oz I bought, I got it off ebay for a very decent price. Ebay is safe as can be if you're careful and you buy from reputable sellers. My 1/4 oz came with all OGP as well. better luck next time! ;)
     
    Two Dogs likes this.
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BARRON'S had a bullish piece on platinum a few weeks ago.
     
  12. Gam3rBlake

    Gam3rBlake Well-Known Member

    Well platinum is much rarer.

    I read somewhere that if all the platinum ever mined was melted and the molten metal was poured into an Olympic size swimming pool it would only reach up to a person’s ankles.
     
  13. hotwheelsearl

    hotwheelsearl Well-Known Member

    I have swiss platinum shooting thaler I inherited from the grandfather. I don't plan on buying any, as despite my reasonable income, I can't really afford to dump a week's pay on tough-to-unload bullion
     
  14. slackaction1

    slackaction1 Supporter! Supporter

    Silver is a cheap alternative for the less sophisticated, I see , got it. No worries here you got to be sophisticated first.
     
  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Silver may or may not be "cheap" but folks buy it mostly because they can buy alot of ounces as opposed to gold or platinum or palladium.

    Has nothing to do with the underlying fundamentals or whether or not it is "cheap."
     
  16. slackaction1

    slackaction1 Supporter! Supporter

    Okay, my bad I read it wrong. I thought he meant Silver was for the less sophisticated and a cheap alternative.. I will scroll up and try again..
     
  17. Jedinited

    Jedinited Jayhawk Numismatist

    You may want to consider a platinum exchange traded fund (ETF) that owns physical platinum, such as PPLT. Smaller premium and much more liquid.
     
  18. Kentucky

    Kentucky Supporter! Supporter

    Since I had a 1/10 oz AGE, I bought a 1/10 oz APE to accompany it and then felt compelled to buy a 1/10 oz silver round so they could be compared...I'll look for my photo of them...
     
  19. Evan Saltis

    Evan Saltis 2 years on CT! Supporter

    No one cares about platinum since Nas stopped rocking it :D
     
  20. 1865King

    1865King Well-Known Member

    Platinum is more of an industrial metal. It is a rarer metal than gold. However, it can be hard to work with and even though it's rarer than gold people will always choose gold over platinum. Gold has a 5,000 year history in which people wanted it. Platinum didn't start being used until about 200 years ago.
     
  21. fretboard

    fretboard Defender of Old Coinage!

    That's funny, not true but it was said. :cigar: Anyone can buy silver, no sophistication needed! :D
     
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