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Platinum - who's buying?


vand

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Many questions here are about buying platinum. My worry, instead, is about selling. I think there could be about 3-4 bullion dealers in UK willing to buy your platinum, and probably at a massive margin.

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Priced reasonably, I think platinum moves easily enough on the forum. If selling in the long term you would hopefully have a good return and price it around the market price at the time.

Thr last rate I saw from a dealer was very poor, can't remember who it was but we're only offering around 65%, pirates as Sixgun would say.

“Nowadays people know the price of everything and the value of nothing.” Oscillate Wildly

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@savoyard Good points, going back a page on the thread I remember we discussed some on the lack of liquidity and problems with spread, size of the secondary private market, ect. The spread and premiums need to be accounted for when buying imo, exit plan is most important part of buying anything.

Personally I will try to sell privately first, at spot it will fly no issues (8% loss), trying to undercut a dealer on premiums also works but takes a bit longer from experience, I would say given the premium should be aiming for 3-5% lower than that. Consider that most dealers offer 97% of spot on gold there isn't much difference other than its a bit more work.

Its nice to know that dealers will take platinum/silver as a back up plan, but at 90% of spot at best its a big haircut, 18% in total for platinum and 25% for silver (8/15% buy premium on top), its a bit much. 

65% is daylight robbery. 

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I've just posted some Pd for sale, I really struggled in working out a fair price.

In the end I've listed it at the same premium as a much larger bar, but with no VAT to add. I've no idea if that was correct.

I think all PGMs will have the same problem in the 2ndary market.

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Well GS.be are currently out of stock of 1oz plat Brits.

In a way it's ludicrous that prices are so low. Demand has clearly outstripped supply, and yet here we are still at $840 thanks to paper market supression

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Too many people betting against platinum using paper. But demand has still only outstripped supply in physical investment coins and bars (tiny %). How much does the paper investment market represent compared to total physical supply I wonder? How many ounces are mined per year vs being traded on the paper markets. Enough to move the price?

Or do the price movements reflect the greater portion of demand, car industry, jewellery market, ect. A tale of many markets.

The charts are singing their rhyme, the ratios and price charts are in platinum's favour, that is good enough for now, the story will come later.  

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Interesting piece of data in that article, I have been searching the world platinum investment council website for the source but have not yet found the article; 

"A 5% substitution of palladium in petrol catalytic converters would generate 14% more demand for platinum from the automotive segment." 

I did find a chart on there about platinum use in converters, in petrol the industry uses 1 part platinum to 8 parts palladium so plenty of palladium to substitute. When the relative prices become too tempting to ignore there will be redesign and increased pt. demand, when and to what degree we will have to see, I reckon it depends on how expensive pd. gets and when. Low prices should be the cure to low prices and vice versa for palladium.

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True and the trend is down has been for 8 years, the ancestors say "don't fight the trend" for a reason. :) 

In USD platinum is at strong support. Support has been tested multiple times, not sure what the volume is on the paper market, probably low? Not necessarily the bottom, it could easily go lower in no time.

The ratio's are not good measures for timing the bottom as ratios can reverse by lowering relative prices, ie gold and palladium falling while platinum stays the same or falls less. It does limit the relative downside for platinum. 

Alternatively see the extreme ratio's and trend across the metals as an indication that all can expect further downside with platinum expected to perform the least worst, arguably the trend is down in all but palladium. The volume on palladium is as record high as the price. Sell all other metals and buy palladium? ;)

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I was considering the past 14-16 Aug 2018

by selling gold at the lowest and platinum at the lowest and deploy to palladium

now palladium is 1525

then what is next, what is going to move up ???

both gold and platinum do not look cheap at all (more like a slow bull walk)

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You were considering this at the time, or just looking at this now in hindsight? August 2018 was the low before the last leg on palladium, platinum and gold have not done much since then. Not bad, but missed the parabolic like move on palladium. That is only a 6 months time frame, a short horizon. What about 10 years from now, a slow bull walk sounds good to me. 

Cheap compared to what?

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Seeing the run in Palladium - platinum seems like a bargain at the current price. That being said - i thought it would be a good time to start collecting some platinum pamp fortuna bars to add to the collection - and I managed to source and buy the complete size run - 1 gram, 2.5 gram, 5 gram, 10 gram, half ounce, and 20 gram bars at a decent price.  Had I bought these bars 4 years ago when I first looked at them - I would probably would  have spent double what I just bought them for.

Sometimes patience pays off.

 

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I’m not a big fan of 2oz silver coins which is why the 1oz Platinum Queen’s Beast Lion has caught my eye. Platinum is much rarer than both gold and silver - so rare, in fact, that all of the platinum ever mined could fit into your living room. The metal is resistant to corrosion unlike the endless red and milk spotting problems encountered by silver stackers and collectors.

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  • 3 weeks later...
On 14/03/2019 at 03:56, Serendipity said:

I’m not a big fan of 2oz silver coins which is why the 1oz Platinum Queen’s Beast Lion has caught my eye. Platinum is much rarer than both gold and silver - so rare, in fact, that all of the platinum ever mined could fit into your living room. The metal is resistant to corrosion unlike the endless red and milk spotting problems encountered by silver stackers and collectors.

I'd love a collection of queen's beasts in platinum. But it's just pie in the sky.

I wonder how they would have done in quarter oz though.

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50 minutes ago, UKStacker said:

I'd love a collection of queen's beasts in platinum. But it's just pie in the sky.

I wonder how they would have done in quarter oz though.

Same here, I could go for a 10 pcs series of quarter oz but not a full ounce.

Instagram: gildeon_67

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Been a good last 6 weeks for Platinum, relatively speaking.

Since mid-Feb it has outperformed all the other precious metals, and as a result the extremities in their relative ratios have all pulled back, from record extremes in the cases of Gold/Plat and Pall/Plat.

Halcyon days for Platinum investors... you will be able to look back and say "I nailed the bottom!"

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