A nurse at work has a brother in Fla. who has been investing in precious metals all his life. He still has several 100 ounce Gold bars he bought as a young man for $24 per ounce. He calls her about every 6 or 8 months with investment tips. He predicted the Gold spike we had last spring when he called her a year ago at Thanksgiving. She says his hot tip right now is buy Palladium. So I looked around and also watched Palladium on Kitco. The closest thing I can see that would be the easiest to liquidate is the 2005 and 2006 Canadian Palladium Maple Leaf coin. The one ounce coin is selling around $340. For the past 3 or 4 days Palladium has been going up and down between $314 and $318 per ounce. I'm thinking for the sake of diversity to buy a Palladium Maple Leaf coin. Are there any precious metals speculators on here who could comment on this topic? Would you say Palladium is overdue to spike?
Eventually palladium prices will increase but what's the point? If you want to invest, you are looking to buy at least 10+ oz of palladium. Palladium coins are rarely sold close to it's bullion value. For more infomation of how bullion prices work, it's better if you read this site beforehand. http://www.kitco.com
I don't know anything about the particular coin, but I would think it probably has a small collector following and might be hard to resell
If you are simply looking to invest, you don't need to actually take the metal in hand. Kitco also has pool accounts. If you feel that the metal will take a good increase in price, then you can buy and hold through kitco without having to take delivery. However, it would always be nice to have at least a token coin in the metal to hold and look at. I agree that as a collectible coin, it may be hard to find a buyer, but as bullion... any bullion dealer would buy it, but you would lose a percentage of your gains in holding the physical metal as you would have to pay shipping to get the coins, shipping to send them back out when ready to sell, plus there is always a premium just for having the coin struck. A pool account seems the better way for investment only purposes.
Well, usually people invest in precious metals becouse they prepare for hard times, as it is not really an investment but an insurance from inflation , chaos, usurer's rip-off, ets. When hard times do come, you will use those " certificates" from Kitco and alike only when you go to bathroom. Those papers they will send you, are just papers no more no less, they are good to make a fire or notes, but there is no gold/silver/palladium/you name it behind them whatsoever.
I think the palladium coins are interesting. Your friend's brother may be on to something, but I wouldn't move on it myself. Of course, I don't have tons of money sitting around for me to be able to invest in things like that either. Don't get me wrong, I might buy one of the coins just to have one, but that'd probably be about it. And yes, I've always heard and agree with the idea of taking possession of any precious metals you buy yourself. You want that metal in hand. Or at least in your possession in a vault, safe, etc.
Paladium is to the middle income masses as Platinum is to the rich. Paladium is doing so well, the United States Mint will soon produce uncirculated and proof paladium bullion coins. Better buy all you can afford to buy now before prices are forced up. You heard it first from this old coin Clinker!
palladium Geez, all the posties have good advice and the following is NOT investment advice. Palladium is the alternative to platinum in most industrial uses. Ergo, how goes platinum - so goes palladium. The one poster had an interesting comment, how if the US gets into minting a palladium bullion coin like canada, it would cause a one time spike, but playing this is pure speculation and you could be waiting for decades for that one time spike. You can get the Canadian coin if you simply want to stash a roll around the house or safety deposit box. Or you can invest in a stock that mines palladium. Frankly, I own the stock called PAL and over a couple of years, I'm slightly in the green - but nothing to write home about. Now should gold and the rest of the precious metals really take off like some of the gold bull touts are predicting - then palladium and platinum and all will do great and PAL being the lead dog palladium mining company will follow suit. But again, this is all speculation. If you want to invest in the precious metals sector, you can buy the various bullion coins and stash them, or you can buy a bunch of different mining stocks, or you can just buy a good precious metals mutual fund that covers all the squares. Vanguard VGPMX is great, but closed unless you can get in thru a brokerage or institutional account. Tocqueville TGLDX and US Global UNWPX are my next favorites (but there are others) and are no load funds. Personally, I own bullion, precious metals funds (all those listed above) and a pot full of individual mining stocks. However, this is a combination of core asset allocation holding AND speculation. I also collect coins. ;-) As the one poster suggested. check out www.kitco.com and also the articles at www.gold-eagle.com They seem to have the best information - BUT IT IS BIASED TOWARDS PRECIOUS METALS. And be careful and prudent. peace, rono
The nurse gave more info last night as to what her brother actually said. He said Palladium is going to go up. Not is "due" to go up. Not is "overdue" to go up. He said it "IS" going to go up. This guy is into stocks, owns three Hotels and a large chain of Karate studios, plus has his finger in many other pies. He has a staff that depends on him and to quote her words he has "people living off of him". Thanks everyone for the input. However the question still remains: Does anyone agree that this is about to take place in the near future? In my first post, I did say that I check prices on Kitco. So if you noticed that; it is moot to tell me to go to Kitco.com as I have been doing just that multiple times daily for about seven months. Also, my intent would be to just speculate by buying a couple of coins (not bars) just for diversification only. Someone said I need to buy 10 ounces. I would respectfully ask why do I need to do that? I may plan on buying just one Canadian coin (one ounce Palladium Maple Leaf) and then keep track of the spot. Right now it is about $315 a troy ounce. It has been going up and down between 314 and 318... Seems pretty stable with no big drops and no big spikes. And like someone else said if the US Mint does plan to make a coin, then there must be some stability in this metal. Of course the US Mint would charge an arm and a leg for it. So at that point I probably would buy a second coin- namely a one ounce US Palladium coin. And that's it. That's the extent of my speculating. Two coins. It isn't really investing. Thank you for all input.
Isn't it special that he has ESP and can see the future? I'm just a bit confused as to why you'd ask (on a coin forum) if anyone agrees if Palladium is going to go up (no "due" not "overdue" etc.) ? If you're lucky, you'll get reponses fromsome that say it will, and others that say it won't (with most of the responses based on pure speculation). If you're unlucky, you'll get responses weighed in one direction or another which may, or may not, pan out. The reason someone said you'd have to buy 10 ounces is because otherwise it's pointless to worry much about it or follow charts for months (let alone 7 months). If you buy *one coin* @ $315 and it goes up... you've made $25 or $50 (minus the cost of selling it, which may very well result in an actual profit of a few dollars). If it goes down, you've lost $25 or $50. That's the cost of a couple delivered pizza orders. To put it another way, what would be the point of watching the silver market for 7 months (checking multiple times a day) and getting advice as to whether the market is going to go up (even if you feel it's solid advice), and then... buying *one* uncirculated ASE (silver eagle) @ $12.50? Maybe it will go up to $14 or $15 or even $16 an ouce (spot), so you've made a buck or two... so? This is why you need to buy at least 10, in a nutshell, though IMHO, even 10 isn't much worth discussing in terms of investing and diversification of one's portfolio. It almost sounds to me that you want a Palladium Maple Leaf coin, and are looking to justify buying it (by checking "multiple times daily for about seven months" and getting advice from the nurse's brother). It's one coin. $315-ish. Pull the trigger. You aren't going to make or lose anything worthy of telling anyone.
Victor, you are on the road to ruin if you believe that anyone knows the future with certainty. Palladium might go up and it might go down. Over the long run I think the probability is that it will go up because the probability seems fairly high that just about all commodities will go up as the dollar continues to devalue. Since the nurse's brother made his money in karate studios and hotels, his opinion on those businesses probably carries a lot more weight than his opinion on the direction of palladium prices.
I was not soliciting sarcastic remarks. The reason I check the Kitco website (and others) is not due to Palladium. I have some holdings in Gold and Silver coins. Not insignificant either. Just wondering if anyone else has looked at Palladium coins, or even owns some, that's all. So if you think this is inappropriate maybe you can suggest another place to ask about Palladium Maple Leaf coins. There is chat here day in and day out about ASE, AGE, Buffalo, and now the Silver Reverses. Bullion coins. So what is so strange about talking Palladium coins? This guy, the nurses brother is no dummy. Most of his success is due directly to precious metals. And BTW, I did thank you all for the input. This question seems to have been answered and now I will shop for a Palladium coin. Again thanks to everyone.
EDIT: Isn't it special that he has ESP and can see the future? I can't find one sarcastic remark in this thread (EDIT: Besides the one above heh, but ain't it true?). Don't confuse brutal honestly with sarcasm. I don't think it's strange to talk about Palladium coins, buying, selling, looking at, etc., but what is strange is talking about liquidating, investing, diversification in the same thread as asking about buying *one coin* it's just doesn't go together (similar to talking about the same subjects and then saying one is going to buy one ASE). Again, this isn't to insult you or be a sarcastic comment. I'm sure you will like the coin and you've thought it out (for quite some time) so it's (as I said) time to pull the trigger and just get it.
What I personally don't like is the idea of bullion coins. Sure thing you can buy them off them but at the end of the day when you sell them, it's probably "bullion value + certain % prenium" There are some remarkable prices about proper palladium coins, yes proper palladium coins, not palladium bullions coins. Most of them like the Russian ballerinas, Australian emus, Tonga Haus are all doing remarkably well way over it's bullion value due to their designs and as well as their given low mintages. Some examples of palladium coins are in here: http://www.rene-finn.de/English/palladiumtabeng.html The best example would be the release of the Canadian Constellations this year, which sold out like hot cakes. The problem with palladium is that it had some pricing issues in the past. Do you still believe that back in 2001, palladium prices have gone up to 1100+USD, only to fall down rapidly due to massive hoarding and mass sale of palladium due to bad speculation that the metal got scarce (some of which did involve big car manufactures hoarding them because of catalyst purposes). Perhaps palladium will increase value overtime - I don't have a problem beliving in it, but how and when you do know the value will drop? How do you know if we are not going to play the same cycle again? Remember as palladium - platinum are currently one of the key components to manufacturing catalysts, how do we ever know if the car manufacters are holding out on us? They have the money, we don't have as much as they do. They have more influence on the market - we just play around with their artificial demands. Other precious metals on the other hand don't get into this kind of scrunity. My final point is, if you do know when the values of palladium will rise and drop, go for it. Or else if it's purely for investment, and I don't quite see why you want to go for just one ounce, you might want to try other metals or else stocks. Prices of metals are as violiable as stocks.
That's sufficient discussion of the investment in palladum subject. If anyone has further comments to make concerning palladium coins and the numismatic collecting thereof, feel free to start a new thread.
