Interesting Platinum Info!

Discussion in 'Platinum' started by -j-p-shmorgan, Jul 18, 2015.

  1. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Platinum is the rarest and heaviest of the precious metals.
    All of the Platinum ever mined would fit in the average size living room.
    Annually, only about 133 tons of Platinum are mined, compared to about 1,782 tons of Gold.
    In contrast with Gold and Silver, there are no large above-ground Platinum Bullion stockpiles to protect against significant supply disruptions.
    Ten tons of ore and a five month process is needed to generate one ounce of Platinum Bullion.
    More than 90% of all Platinum supplies come from South Africa and Russia. Virtually all of the platinum mined in South Africa is committed to industrial contracts.
    Legendary jewelers such as Cartier, Faberge and Tiffany created their timeless designs in Platinum.
    The world's famous diamonds, including the Hope, Jonker I and Koh-I-Noor, are secured by Platinum.
    When World War II began, the U.S. government declared Platinum a strategic metal and its use in non-military applications, including jewelry, was disallowed.
    As with all precious metals (Gold, Silver, etc.), Platinum can be scratched. However, with Platinum, there is actually no material lost from the scratch as there is with Gold.
    - http://www.bullion.com/platinum/funfactsaboutplatinum.html

    Also, to add to this...Today's price is the same as 2005...... :D
     
  2. SmartyFarty

    SmartyFarty Member

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    Interesting facts.

    Here are some supply and demand charts.
    http://www.ptcalc.com/platinum-supply-and-demand.php

    The thing I cannot get my head around is how the market has been in deficit for so many years and yet the price has been falling.

    Something has to give or the miners are not going to dig it out of the ground
     
  3. -j-p-shmorgan

    -j-p-shmorgan New Member

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  4. Altima

    Altima Well-Known Member Silver Stacker

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    It is a very good deal, but I think since I don't have any platinum I might hold out till I can get one sub-1000 USD :p
     
  5. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Don't hold your breath. The premiums will keep it at $1,000+ even with an $800 spot price. lol
    If I can purchase sub $1,000....I'll buy 2 more. lol
     
  6. Altima

    Altima Well-Known Member Silver Stacker

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    Meh, no rush really. Not really savvy enough to venture into platinum tbh. More like if ever it does drop that low kinda purchase.
     
  7. -j-p-shmorgan

    -j-p-shmorgan New Member

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    My 1oz Platinum Australian Platypus arrived today. :) :D :)
    BEAUTIFUL COIN!!!
     
  8. motorbikez

    motorbikez Member Silver Stacker

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    I bought my 1st platinum coins today 2 X 1/4 oz eagles.
     
  9. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Very nice. :)
    Were you able to find them anywhere near spot? lol
     
  10. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    I got a half ounce koala at about spot plus 5%at auction last year and I'm always on the lookout for more when I can get them at that price.

    Regarding the rarity it depends which metals you include in PM's, it's the most abundant platinum group metal.
     
  11. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Can you clarify? I read it several times and still not understanding . :/
     
  12. motorbikez

    motorbikez Member Silver Stacker

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    I think this is what phrenzy means


    https://en.wikipedia.org/wiki/Platinum_group
     
  13. motorbikez

    motorbikez Member Silver Stacker

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    No :lol:
     
  14. -j-p-shmorgan

    -j-p-shmorgan New Member

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    I feel like a baller adding platinum to the portfolio.
    And when we sell, someone else can pay a hefty premium. lol
     
  15. stackingstudious

    stackingstudious New Member

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  16. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    You should think about adding some ruthenium to the mix, 3 times rarer than platinum at a fraction the price and currently around 1/12th it's previous high price. Similar applications to platinum as well and running out just as fast...if only there was someone who knew where to get some :)
     
  17. Porcello

    Porcello New Member

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    Someone in this forum bought a jar and was selling 1oz vials to whoever wanted to participate at a very good price. The problem is where to sell it when you want to get rid of it....


    Ops! It was you right? I should read names in the posts before replying. Btw, where do you you resell ruthenium when it's time? And how much is the buy spread?
     
  18. The Crow

    The Crow Member Silver Stacker

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    Location:
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    Ruthenium: $4675/oz at spot in 2027
     
  19. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    The spread is really dependant on who you find to buy it. I'd hope that you'd get at least spot for it and that it should be *reasonably* easy to sell. The fact that it's used everywhere that makes or deals with platinum jewelry for a start makes it something if a known quantity with lots of smelters/refiners etc. In the old days it would have been difficult for metals buyers to assess what you have since it doesn't test easy but nowdays with XRF that's pretty straight forward without having to send off for assay. Not as liquid as gold or silver certainly but I'd think it wouldn't be that difficult either.
     
  20. -j-p-shmorgan

    -j-p-shmorgan New Member

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    Locked.
     

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