Going against the grain - perfect platinum buying time ?

[Lindeman]

For those of us who like the Pt - this is surely Christmas come early!? 

Price in $ is down to under $890/ ounce and you have to go back to Feb 2016 to see the last time Platinum was at that price. I have acummulated a few ounces since 2014  - just trying to get a 1 ounce example from each of the countries / mints that isssue platinum (and this year there have been a few new entrants - the Krugerrand, Queens Beast, Kangaroo). 

I give below some exs of remarkable deals available today on the US websites ( i know - this is really only a bargain for US buyers - as the VAT + shipping will get you adding >20% to these numbers??)   

One of the most beautiful Pt coins - and i have never seen it at this price before - the IOM Noble for $929.45 from Provident   That makes me want to buy another! 

Then the new kid on the Perth Mint roster - and my target today - Kangaroo 2018 for $969 from Provident or $975 at Apmex.

Apmex also have a fantastic sale  deal on the 2009 IOM Angel Proof at $979  and the QBs at around $970   

Sure - there is a lot of talk about Pt not being needed in future as we go to battery powered cars etc - and this metal fell out of favour as Palladium soared past it , but all i know is that platinum is at about 86% of its year high today, with silver very similar at about 85% of its 2017 high - so this as much a buying opportunity for platinum as for silver. 

Just wanted to see how the platinum buyers out there in the Forum are looking at this right now. I am certainly aiming to pick up 1-2 ounces today in case the price pops up tomorrow (of course - they will probably plummet as soon as i have hit the button??)  

The one coin that stays stubbornly above the $1000 line is still the US Eagle  - which is frustrating to me, as i need one! 

Lindeman 

 

[Pete]

I was looking at buying a few ounces of Platinum believing the price should be higher than it is, hence a good deal right now BUT when I checked the buyback of Platinum from dealers I was shocked to see how much I would loose compared to buying gold so backed off.

[mr-dead]

I was eyeing up the 1kg bars at Guernsey mint thinking should I roll the dice and hope I dont get hit with VAT

 

[Pete]

25 minutes ago, mr-dead said:

I was eyeing up the 1kg bars at Guernsey mint thinking should I roll the dice and hope I dont get hit with VAT

 

You get hit with the VAT if the package contained a small bottle of shampoo.
Buying such an item merits a trip on the ferry in person.

[Lindeman]

The way i figure it there is every likelihood Pt will go back to over$1000 / ounce just with normal price fluctuations, so that nearly takes care of the VAT hit....

of course - any PM purchase right now has to compete with the crypto alternatives for quicker gain (loss!?) like ETH, XRP, BTC, OMG et al.

Tough choices.... 

[Kman]

If I knew where I could buy a platinum QB Lion without VAT id think about it

[Ryland]

I’m not sure if this is true because I’ve never heard anyone say this but a year or so ago I pulled up a chart of platinum and a chart of oil prices and they were extremely correlated.  There were a few cases where oils move to the up or down would be sharper than platinum but they seemed to come back into average.  Since then I’ve seen no need to own platinum in large quantities.  I would much rather just buy Exxon or statoil stock and get paid the dividend while waiting for a big move up.  Oil and platinum to me are completely unpredictable in their moves and therefore in my opinion no a good store of value or not “money” the way gold and silver are.  

[Bumble]

If you are a coin collector and enjoy owning platinum coins, then by all means go for it. I don't care for platinum from an investment point of view. Its main industrial use is for catalytic converters for diesel engined cars. This means not only will battery powered cars reduce the demand for it, but the shift away from diesel and towards petrol (gasoline) will reduce the demand for it. The biggest producer of platinum is South Africa which is economically highly stressed and cannot afford to cut production because it is a substantial source of jobs and foreign currency.