Is the US Mint still asking insane prices for their platinum eagles or have they suddenly become "unavailable"? EDIT: I just checked... $1,979.95 for one ounce of platinum and currently "not available".
All I'm going to say is try and find gold or platinum in-hand for the "spot" price, and tell me what you find...Mike
Mike, I bet if you keep an eye out you just might be able to snag a solid platinum ring or two off eBay for melt. Even at today's prices it's still a little rich for me to spend a lot of money on, but I did do this once back when platinum was around $1400 an ounce.
Factors keeping the price down are people cashing in for cash. But demand is still higher than supply which is resulting in premiums on gold and platinum. Lately gold has been trading at a premium of about $100 an oz over the spot price. The Stock Market was up today, but will be down next week.
gold and platinum gold will surpass platinum soon. gold expected to reach $1,500.00. while platinum will then be a falling knife. maybe $500.00.
You would think in situations like this, South Africa would shut down their platinum mines for awhile to drive the price back up... they do control 95% (or is it 90%?) of the world's supply after all.
If the situation arises where you can buy a 1 oz platinum coin for less than a 1 oz gold coin, the platinum coin is a buy. Someday the spread will be 2:1 again and you can trade the platinum for 2 oz of gold.
