Your Opinion On Platinum Purchase

C

Caneorange

Member
Thinking about getting an oz of Platinum this weekend and what some opinions. I live in central USA and tend to buy online through provident metals. They currently only have 3 1 oz options for platinum a random year perth mint platypus for $89.95 over spot, a valcambi bar for $54.95 over spot, or a scotiabank bar for $49.95 over spot.

My gut says since this is a flip intended purchase go with the smallest premium, but no clue if this is even a reasonable premium at ~5% premium.

Any thoughts appreciated.
 
Check the buyback prices - then get the item with the lowest spread.

Platinum is undervalued relative to gold at the moment in my opinion.
 
Yeah.. ultimately, its getting the one with the lowest spread in the buybacks. Genrally coins are given a higher premium than coins, but my LCS took the bar for the same price as the coin.

List your exit strategies. Go to the store, call wherever you intend on selling them, sell something first if its online.
 
Palladium is apparently 32x rarer than gold, is used in more applications and is cheaper than Platinum.

I think Platinum and Rhodium were overhyped in the past into unsustainable bubbles and have only 'crashed' back to realistic prices. I can't imagine you losing money by buying Platinum, but if you think you're going to turn a significant profit "when the price rebounds" I don't see that happening.

But personally for a flip I'd go for the coins, because more people collect coins than bullion and its all the same to traders. I don't think spread matters much as long as its the typical spread for that form (bullion or coin) as you get that back in the sale anyway.
 
We are simply in a commodity smackdown (whatever the reason may be) so all industrial metals are suffering, including platinum. Gold is more immune due to its almost non existent industrial use.
 
I've been thinking the same - but it seems the price has been in freefall since the middle of last year - not sure where it will end.
 
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