Rhodium anyone?? best place to buy? your opinions

Discussion in 'Bullion Investing' started by Shwine617, Jan 14, 2013.

  1. Shwine617

    Shwine617 New Member

    I bought a few ounces of rhodium a while back to diversify a little. I was thinking about getting some more, but not sure if it's future is promising with the crashing economy. Plus I am having trouble finding it for a decent price. The Cohen mint scares me, even though I did get one bar from them. I hear a lot of bad stories. I have a few from Baird mint that I got from ebay, but had to pay a hefty premium. Anyway, just wanted to see if anyone else invested in this metal and their opinions on it.
    2013-01-14_13-19-58_977.jpg 2013-01-14_13-20-04_527.jpg
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  3. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    If this is for investment, you're complicating things. When you go to sell the bars, you may have to take a pretty large haircut from spot depending on market conditions. Just buy government issued gold and silver. It will be easier to sell under a wide range of conditions.
  4. medoraman

    medoraman Supporter! Supporter

    To me its more speculating in an industrial product, the same as buying up copper wiring or stainless steel bar stock.

    To me gold and silver are the historical precious metals, with the thrid being platinum, and possibly the fourth being palladium. Past that, (depending on where you wish to draw the line), all other metals are really industrial demand items and buying them is "different" than buying PM.

    IDK though. Its an interesting topic of discussion. The more I think about it, why IS buying PT or silver much different than buying stainless steel bar stock or similar, (except for size concerns). Maybe its just a prejudice of mine being exposed.

    Edit: Cloud just posted above me an interesting point, about buy/sell spreads. Fair point, yet I would say the same argument can be made with Pt/Pa.
  5. Blissskr

    Blissskr Well-Known Member

    As Cloudsweeper mentioned a think unless your buying a product that is issued by a government not a private mint thus fully guaranteed or something like Kitcos rodium sponge product that has an integrity seal that allows it to keep it's value when selling as long as you don't open it you will end up losing money or maybe potential profits.
    I mean who knows if what you have really is rodium. I researched it before and it's very difficult to mint it into bars/rounds etc from what I understand which is why you don't see any government options for it and why Kitco only sells it in the sponge product with integrity seal.
  6. Tinpot

    Tinpot Well-Known Member

  7. Shwine617

    Shwine617 New Member

    Yea I agree, there is always that factor. I am not going crazy with it, just would like 10 oz. Just in case it decides to shoot up again.

    Not a bad price at all. Has anyone purchased from this site before? I haven't yet.
  8. Tinpot

    Tinpot Well-Known Member

    I haven't but I heard about them on another forum, a couple chimed in and said they had made purchases from them.

    You can always google them and check BBB to try and get a better idea.
  9. rockyyaknow

    rockyyaknow Well-Known Member

    I agree with cloudsweeper. Its always good to diversify, but the safe path is going with silver and gold. It may be nice to have other metals in your portfolio, but I personally wouldn't risk investing in too much into it.
  10. sunflower

    sunflower New Member

    I purchased mine from goldeneaglecoin. I am satisfied with them. Price and product and delivery worked out very well for me.

    Good luck.
  11. sodude

    sodude Well-Known Member

    I think it's a good idea.
  12. wheatpennypeter

    wheatpennypeter New Member

    I have ordered from goldeneagle before (second half of 2012). It was a pretty big order and I had no problems.
  13. sunflower

    sunflower New Member

    Overall, GoldenEagleCoin has better prices, in my opinion (compared to APMEX). APMEX has a better selection though. Besure to keep packaging intact when taking delivery of the Rhodium bars from Baird Mint.
  14. sunflower

    sunflower New Member

    Oh one more idea to share.... Rhodium is said to be like glass....very brittle. Don't store in your back pocket. :yes:
  15. Juan Blanco

    Juan Blanco New Member

    Like glass? Not quite. This coin was snapped in a metal vise.

    A long Kitco thread from 2009 provides interesting perspective; then & there, the premium on Rh was ~40%! Today, Rh has risen but retail price ~ the same: the premium dropped ~50% (now it's been about ~19% on GoldenEagle for awhile, I think.)

    In the UK, Rh @ £ 828. then Rh ingot (Baird & Co.) advertised @ £ 1,005 is 21.4% premium before VAT.

    I keep an eye on the Bloomberg quote (USD) from my friends at J-M:

    Do more research here:

    This is a dated article but appears to detail the Investor Death Spike event of 2007/8: http://www.resourceinvestor.com/2008/08/21/can-one-mans-actions-take-6-billion-in-value-out-o
  16. sunflower

    sunflower New Member

    Thanks Juan Blanco for the info. The pic indicated the brittleness of the metal. Very interesting.
  17. Juan Blanco

    Juan Blanco New Member

    Not really. You might look online; lots of pure metals are "brittle" as you think. Rhodium is not fragile like common glass, anyway.

    That thin coin was snapped in a metal vise. A Rhodium ingot from Baird won't likely chip or break if you drop it on the floor (or sit on it.)
    I wonder why people think that. Odd consideration, not-to-own...
  18. sunflower

    sunflower New Member

    Thanks for info. Really not a consideration to not own. More like don't drop your silver on payment if you don't want scratches. I am very interested or shall I say intrigued with the opportunities to acquire RH. Kind of like diamonds and pearls. It is nice to know I have some, but I don't seek a whole drawer full.
  19. yakpoo

    yakpoo Member

    The Rhodium Sponge...(are you "sponge worthy"?)

  20. Juan Blanco

    Juan Blanco New Member

    Mousse de platine (éponge de platine), Platinschwamm, Spugua di platino...

    First time I saw early 19th Century references to "platina sponge" I was baffled.

    The first English langauge reference I've found is The Philosophical Magazine,Vol. 37 (1811), XIII "On the purification of Platina" by M. {Hippolyte-Victor} Descostils; it was "éponge métallique" in the original Mémoires de physique et de chimie (1807), p.378. I think the term originated around 1801 (Le résidu qui étoit du platine très pur... l'éponge métallique imbibée du muriate de potasse... etc.) in Paris.

    This was how the few late 18th C. chemists produced & sold semi-refined platinum, as precipitate metal powder. Hammered, thin plates (ingot) cost more, as much as Gold. The UK price dropped dramatically a few years before Dr. Wollaston (who discovered Rhodium in 1803) began merchandizing his Platinum sheets in 1805.

    Circa 1820, the producer-cost was estimated at £ 3.13/ozt and retail value at £ 15./ozt. Tthe Knight brothers of Foster's Lane were selling Rhodium after 1805, but I have not been able to reconstruct an early price chart for Rh from this period. (We may presume Rh was twice the price of Pd, but I haven't seen evidence to prove this.)

    By 1835, Rhodium had fallen to abit more than the POG. Rhodium has historically traded at 15x-20x POG; in relative terms, this PM is very very CHEAP now. In fact, we are near the historic, all-time low.
  21. sunflower

    sunflower New Member

    Does anyone here actually own some sponge? I have the bars. I heard that the sponge was not as stable. (meaning could be hazardous if not contained in the wrong mix of conditions.).

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