Gold vs plat.

[jonhls]

I see the spread has closed between gold and plat.It wasnt that long ago gold spot was 400.00 below plat. I am wondering why plat is not rising with gold....is it undervalued at these prices....

 

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[jim4silver]

I have never bought any platinum before now and I am watching it closely. Gold and silver usually don't run in the same direction the same as gold and silver do. Platinum is much more of an industrial metal (auto industry mostly, some medical uses and jewelry). When the economy is down platinum often goes down.

Platinum is very volatile and if there is even a strike at one of the few mines that produce it, the price can go up very quickly. It is only mined at a few places in the world, South Africa and Russia primarily.

Any new PMs I get will be platinum for the near term unless silver goes below 30. Just for perspective, the world platinum supply (in the Earth's crust) is thought to be 1/16 that of gold, much like is often said that gold is 1/16 that of silver.

The above ground stockpiles of platinum are miniscule compared to gold and silver. I do think if things keep like they are we will see gold be worth more than platinum. I don't know how long that will last though.

Another interesting point is there has never been a platinum confiscation before and it has never been discussed as an option for any of those worried about it for gold/silver.

If some extra $$$$$ comes in this week I may be picking up a bit.

Just my thoughts.

Jim

 

[mts]

I have never bought any platinum before now and I am watching it closely. Gold and silver usually don't run in the same direction the same as gold and silver do. Platinum is much more of an industrial metal (auto industry mostly, some medical uses and jewelry). When the economy is down platinum often goes down.

Platinum is very volatile and if there is even a strike at one of the few mines that produce it, the price can go up very quickly. It is only mined at a few places in the world, South Africa and Russia primarily.

Any new PMs I get will be platinum for the near term unless silver goes below 30. Just for perspective, the world platinum supply (in the Earth's crust) is thought to be 1/16 that of gold, much like is often said that gold is 1/16 that of silver.

The above ground stockpiles of platinum are miniscule compared to gold and silver. I do think if things keep like they are we will see gold be worth more than platinum. I don't know how long that will last though.

Another interesting point is there has never been a platinum confiscation before and it has never been discussed as an option for any of those worried about it for gold/silver.

If some extra $$$$$ comes in this week I may be picking up a bit.

Just my thoughts.

Jim

You've convinced me to start looking into platinum. If you do buy some, what will you be looking to buy and where/who will you buy it from? I really don't care for the look of the Platinum American Eagles. They look like a poorly made silver art round. I would probably be looking for bars or Maple Leafs myself. Also, APMEX has virtually no platinum products available right now. What do you make of that?

 

[jim4silver]

I have never bought any platinum before now and I am watching it closely. Gold and silver usually don't run in the same direction the same as gold and silver do. Platinum is much more of an industrial metal (auto industry mostly, some medical uses and jewelry). When the economy is down platinum often goes down.

Platinum is very volatile and if there is even a strike at one of the few mines that produce it, the price can go up very quickly. It is only mined at a few places in the world, South Africa and Russia primarily.

Any new PMs I get will be platinum for the near term unless silver goes below 30. Just for perspective, the world platinum supply (in the Earth's crust) is thought to be 1/16 that of gold, much like is often said that gold is 1/16 that of silver.

The above ground stockpiles of platinum are miniscule compared to gold and silver. I do think if things keep like they are we will see gold be worth more than platinum. I don't know how long that will last though.

Another interesting point is there has never been a platinum confiscation before and it has never been discussed as an option for any of those worried about it for gold/silver.

If some extra $$$$$ comes in this week I may be picking up a bit.

Just my thoughts.

Jim

You've convinced me to start looking into platinum. If you do buy some, what will you be looking to buy and where/who will you buy it from? I really don't care for the look of the Platinum American Eagles. They look like a poorly made silver art round. I would probably be looking for bars or Maple Leafs myself. Also, APMEX has virtually no platinum products available right now. What do you make of that?

I personally don't like bars of anything except for silver, just because I am paranoid of counterfeits and coins are much more difficult to make and have them look and weigh correctly and have the exact dimensions.

I actually like the platinum eagles but they are much higher in premiums here ($100+). The Isle of Man "noble" coins are very popular for Platinum in a cheaper premium coin (at least here they are cheaper--usually 50 bucks over spot from what I have heard). The Canadian Maples are also nice coins and a bit more than the Nobles here, maybe 60-70 bucks over melt. I did pick up a noble and it is kind of a neat coin, although platinum coins are not as eye appealing to me as gold, but has a cool viking ship on the back. I also got a maple that cost a little more than the noble. Funny thing is the platinum is more heavy/dense than gold for its size, so when you are holding the coins they seem to be even heavier than gold, even though it is only one ounce just like a one ounce gold coin.

But even here supply is very limited at the coin shops. I guess because platinum is not as widely traded or because it is more rare? I may wind up going with bars if they are still in the cardboard sleeve, since that is what some local stores had in stock when I was looking around. They seem to be the cheapest premium, much like in gold. Lots of 1/10 ounce eagles but the premium to me is outrageous and I am not getting those.

I am going out again this afternoon to check another store. I guess I have a new PM addiction.

Jim

 

[mts]

...I am going out again this afternoon to check another store. I guess I have a new PM addiction.

Jim

Let me know what you find. And thanks for passing the addiction on to me.

 

[jim4silver]

...I am going out again this afternoon to check another store. I guess I have a new PM addiction.

Jim

Let me know what you find. And thanks for passing the addiction on to me.

MTS,

Last place I went was out of anything worth getting. Had a couple of slabbed platinum eagle fractionals they wanted high premiums for. I don't get the idea of having modern bullion graded. I say who cares if your 5 year old bullion coin is an MS70. It never circulated and was made as a collectible. In my view all of them should be at least MS69 since they were never spent.

It seems that with the current gold/platinum ratio others decided to get in. Most of the time these places don't really stock much platinum anyway, so when buyers come in it goes away fast.

Maybe it will correct more in the near future? If so I will get in on some more, otherwise I need to keep some $$$$ ready for when/if silver drops below 30. Then I plan to do some buying for sure.

Jim

 

[mts]

Sounds good. I'll keep my eyes open too.

 

[Silver Surfer]

I do think if things keep like they are we will see gold be worth more than platinum.

Seeing it now... I cant believe that I just watched Gold surpass Platinum, and by quite a bit.. I have been wanting to find a platinum ring (or rings) since I started, still have yet to find one, but now it may not be such a milestone, as gold may be worth more...
WOW, crazy things going on...