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View Full Version : Physical platinum and other metals SKY HIGH?!



Heruur
10-20-2008, 06:43 PM
It seems that despite the spot price the asking price is about 200 to 300 bucks more for physical PLAT! :eek:

Pal, silver and gold are similarly high too. Is it spot market manipulation or simply dealers price rigging or there is really a supply V.S demand issue? Any comments welcome.

johndaniels
10-20-2008, 06:48 PM
you found some? theres no eagles available from the major dealers that I know of.

these seat of the pants clowns on wall street invented ETF's and paper metal interests for 1 reason: so they could short metals. problem is, as we;re seeing here, there is no REAL supply to cover these short positions with...meaning a HUGE price escalation when all the banks etc cover these positions...i mean an oddly high price is coming for silver and especially platinum...like over $30 and $3,000.

Heruur
10-20-2008, 09:46 PM
Yeah my local dealer has been out since the nosebleed prices of about 2K, i do know that he sent it off to the refinery when it came in above about 1800/oz when it came in.

Actually, Last week i got lucky and they had 4 oz of the stuff on hand they got barely an hour before closing. I locked in a price of 1100/oz no questions asked, and swapped gold for it. I agree with you that these metals are going to the moon, especially SILVER in $% value, over $30 by march of next year- easily. NOBODY has any small rounds, even 100 oz'ers are getting hard to find. The $% premiums are even worse than platinum!

IMHO, Platinum will be a bit slower growth, but we'll see over 5K an ounce within 3 years no doubt, that is, if the S doesn't HTF in the real god-help-us sense.

In that case forget about PM's you'll want Beans, Lead, and Brass instead :eek:

ElScorcho767
10-21-2008, 02:08 PM
I bought a one-ounce Maple for spot+ $40 from a local dealer who still has a roll of em in his safe. I think he just keeps em around for rainy day. I bought in at 1070 so I didn't do TOO bad, but i am suckin it up along with the rest.

Argiros
10-21-2008, 09:49 PM
Trying to find physical is outrageously difficult. And the premiums are insane compared to the spot price. But I guess if you look at the final price you pay and not compare with the spot (fake) price, all PM's now are ass-cheap. I wish I didn't have to sell some of mine, because at these prices, they are ALL a buy, especialy PGM's. But GOOD LUCK trying to find some!!

Note: I did notice the US mint has Pt in stock for only a 40% premium :rolleyes: Gold right now is the best bet with only a 10% premuim. Ag on APMEX is at a 70% premium!

When I complete and collect on a couple nice projects I just won, I'd like to buy some of everything, but mostly I'd like a monster box of phillys or maples or some gold sovereigns or swiss francs :o Probably be around jan-feb... aaahhh... must be dreaming, but dreams are nice :p by then the whole world could be different!! Madness I tell ya, madness!!!

I think I need a beer :p


Cheers!

Coldtrader
10-21-2008, 11:44 PM
It's honestly crazy to buy now... you won't miss any sort of train if premiums are 10-70%. Price doesn't matter... COST does.
Haha.. I just checked a popular site... SAE are selling for 7-8 above spot.. They are charging the same for them as they did when was spot was in the high 15's/16's.

refrep
10-22-2008, 03:41 AM
I bought a one-ounce Maple for spot+ $40 from a local dealer who still has a roll of em in his safe. I think he just keeps em around for rainy day. I bought in at 1070 so I didn't do TOO bad, but i am suckin it up along with the rest.

platinum has dried up. if i could i would buy every oz your dealer has. I find too that platinum is selling for $300-$400 over spot. MO

ElScorcho767
10-23-2008, 01:09 PM
My dealer has probably 10 or 12 more Pt maples i know for a fact he would be selling right now if he could, spot +40 i think. He is a custom jeweler and his business is struggling. If i had any $ i would clean him out. This is the guy who sold me a 1986 gold panda proof set, all sealed, with box and COA, 1.9 0z total, for spot+ $90. and recently told me he would sell me generic silver rounds for spot + 1.50...Don't think i will be sharing his location without some serious incentive though. One of the nice things about living in a small town.

and PS. he has 3 more panda sets I am hoping ot pick up when i get a chance.

EdenResident
10-23-2008, 01:48 PM
My dealer has probably 10 or 12 more Pt maples i know for a fact he would be selling right now if he could, spot +40 i think. He is a custom jeweler and his business is struggling. If i had any $ i would clean him out. This is the guy who sold me a 1986 gold panda proof set, all sealed, with box and COA, 1.9 0z total, for spot+ $90. and recently told me he would sell me generic silver rounds for spot + 1.50...Don't think i will be sharing his location without some serious incentive though. One of the nice things about living in a small town.

and PS. he has 3 more panda sets I am hoping ot pick up when i get a chance.

If this is true, just clean up and flip on eBay. You'll make at least couple grands easily.

BeefBullion
10-23-2008, 01:52 PM
It seems that despite the spot price the asking price is about 200 to 300 bucks more for physical PLAT! :eek:

Pal, silver and gold are similarly high too. Is it spot market manipulation or simply dealers price rigging or there is really a supply V.S demand issue? Any comments welcome.

There's two routes you can choose in analysis: paper manipulation, and fundamentals. Manipulation has been addressed. With fundamentals, Platinum (and other PG's) aren't just used as investment instruments but also for industry and jewelry, which take up much more demand than investment. And so, you could have a "bull" in investment uses, with investment rounds and bars hard to find, but it doesn't offset the decrease in demand from auto and jewelry markets. And so, you see extremely high premiums for physical. The market correction that will inevitably come as more rounds are minted and bars produced will be in the premiums, not in the spot price.

ElScorcho767
10-23-2008, 01:52 PM
i have never sold anything on ebay, dont i have to pay some serious premiums?

pennycat1234
10-30-2008, 02:39 PM
i have never sold anything on ebay, dont i have to pay some serious premiums?

Check their seller agreement for exact costs.

But as a new seller (no feedback) you MIGHT have trouble getting the best price. But I'd say it's worth a try.

GoldValue
11-02-2008, 03:36 AM
APMEX has some Platinum Eagles at $200 above spot
http://www.apmex.com/Category/304/2008__Prior_100___1_oz_Platinum_Eagles.aspx

Golden Time
11-02-2008, 07:24 AM
Tulving has 1/2 oz Pt Eagles at $59+spot per coin. Had plenty as of last Thursday after selling me some....
http://www.tulving.com/goldbull.html#Platinum

Goldisgood
11-02-2008, 11:14 AM
APMEX has some Platinum Eagles at $200 above spot
http://www.apmex.com/Category/304/2008__Prior_100___1_oz_Platinum_Eagles.aspx

They are that much above spot because they are delayed getting to Apmex and Apmex is probably covering themselves price wise until the coins show up.

I don't care for that practice, don't list em until you have em.