Platinum stacking?

[franklin]

Platinum just recently appeared upon my radar and I am wondering if many here consider it as a stacking item? Just within the last 2 weeks it jumped $100 per ounce and then came back down, not unlike gold but at its peak during that period it was up 10%. Silver was also up a similar percentage but just considering diversifying.
bb

[coppernickel]

Platinum, Definitely worth stacking.

I have a few grams, bought them in March 2020, when the precious metals dipped. I opted for platinum over gold because it was significantly cheaper.

Educate yourself on the long history as well. Platinum is generally more valuable than gold.

Not many people understand Platinum, making it harder to sell.

Palladium on the other hand, another PGM (platinum group metal, from the periodic table) acts like a precious metal but is really new to use. I don't trust it as a stacking metal, but do own a 1 gram sample.

[franklin]

I recently read an article about the possibility of our car makers having to switch to platinum for the catalytic converters as the main metal, palladium , may be soon in short supply as Russia is one of 2 main suppliers worldwide.

[coppernickel]

That's funny. If I recall correctly, platinum was the primary metal for catalytic converters until just a few years ago, like 2016. Palladium was cheaper and more reliably obtained so the industry changed from platinum to palladium.

[shinnosuke]

Where is the most reasonably priced Pt and Pd available for purchase?

[Cu Penny Hoarder]

Platinum, Definitely worth stacking.

Not many people understand Platinum, making it harder to sell.

1. It looks too much like silver and 2. A pain in the ass to verify it if you want/need to sell it.

Also platinum and palladium are not monetary PMs.

[franklin]

Where is the most reasonably priced Pt and Pd available for purchase?

I recently did business with SD Bullion as they had Pamp Suisse serial numbered bars a good bit cheaper than Apmex. First time to buy from them but it was smooth.

[shinnosuke]

Where is the most reasonably priced Pt and Pd available for purchase?

I recently did business with SD Bullion as they had Pamp Suisse serial numbered bars a good bit cheaper than Apmex. First time to buy from them but it was smooth.

Thanks

[coppernickel]

Thanks, I have seen SD adds. I will look deeper.

[franklin]

I've used Apmex and Texas Precious Metals in the past, although mostly have pilfered from this site over the years. Apmex takes checks which qualify for the lowest price. TPM won't take checks any longer. SDBullion does take them also. I just grabbed an ounce 2 weeks ago in order to feel them out. Good communication and they let me know when they got payment and when they shipped, providing a tracking number. All standard stuff nowadays.
Strange thing is they were lower by several dollars on spot price on most metals. Like this weekend as I type, their spot on platinum is $985 while Apmex is $993.

[68Camaro]

Platinum *should* be 2x what it is, if not more. It's undervalued at any rate. Yes catalytic converter use drives a lot of the demand. I'm a cautious buyer of the better products (prefer Gov coins) below $1000, but they aren't that easy to find without ridiculous premiums, which keeps me reined in.

[franklin]

Today it is down $150 / oz since I began to monitor it about 6 weeks ago, while gold has been relatively unchanged over that time. I would be interested to know what drives this metal's value day-to-day.

[68Camaro]

If you find out let us know! Lol

Its a bizzaro world out there especially right now, so true price discovery on things like this is difficult if not impossible.

[Cu Penny Hoarder]

If you find out let us know! Lol

Its a bizzaro world out there especially right now, so true price discovery on things like this is difficult if not impossible.

Don't sugar coat it!

[Recyclersteve]

Not a fan of either platinum or palladium from a stacking point. At many coin shops I feel that if the owner is out to lunch they will likely have to have you wait til the owner is back before even quoting a price. Why? The potential for fakes.

[franklin]

Would the serial numbered bars/other items be considered a "best bet" ?

[68Camaro]

I like Pt and Pd, but at the right price. For me the right price on Pd was $1100 or below (especially triple digits). Been awhile since we saw that.

For me the right price on Pt is below $900, and we are there, but then you have to find it and without a ridiculous premium. I don't personally like anything in Pt except government coin. I don't expect to find much at my price unless spot continues to drop a lot more, motivating some capitulation selling.

[68Camaro]

Made a semi-thorough effort to scout out available PT at the summer FUN show, since I was there to meet Highroller and Aggressivemetal for dinner. Admittedly not an ideal venue for bullion coin, especially Pt or Pd, but with every past show there has always been some small level of affordable product, at at least one or two booths. Could only find 3 booths with any Pt and 1 with two Pd US Mint coins, mostly graded coin at high premiums. I could have bought a 1 ounce Pt Maple for 1050 but that was somewhat over my max target, so I passed. Everything else had even higher premiums. This goes to the point that spot can be low but the street price of available coin can remain high and hard to get.

[shinnosuke]

I like Pt and Pd, but at the right price. For me the right price on Pd was $1100 or below (especially triple digits). Been awhile since we saw that.

For me the right price on Pt is below $900, and we are there, but then you have to find it and without a ridiculous premium. I don't personally like anything in Pt except government coin. I don't expect to find much at my price unless spot continues to drop a lot more, motivating some capitulation selling.

Kitco shows Pd at $950 right now, Rich. However, I beg you not to buy any. Such a drastic fall from its once Gold-beating lofty heights…. And why? Is Pd no longer used in catalytic converters?

Who can plumb the depths of Pd price action for us with reliable accuracy?

[Recyclersteve]

Let’s say you have a booth at a coin show. You have 10 platinum, 10 palladium and 10 silver coins- all loose ungraded snd uncertified coins.

You have a display saying that 1 of each type is a fake. I’d imagine it would be a lot easier for regular collectors and dealers alike to tell which silver coin was a fake. They could do a drop test with the silver coins to listen for that familiar silver ring.

But what do you do with platinum and palladium?

Also, if I accidentally bought 1 fake silver coin, it would not be a big deal. It would be a much bigger deal with platinum and palladium.

Oh yeah, another item for those hoping to give coins to loved ones when they pass. I would imagine my heirs would have a much easier time getting a fair price from a coin dealer for silver than either platinum or palladium. God help them if they tried to sell, say, $100k or more of platinum or palladium to a single party. It’s hard to visualize someone being able to pay a fair price for that much as they’d likely have to unload a bunch of it quickly. Also, good luck if you don’t live in an area with a bunch of sizable dealers.

For something a bit specialized, I’d rather have a larger dollar amount of nickel than either platinum or palladium as it is MUCH cheaper and almost certainly not heavily counterfeited.

[68Camaro]

Put them on a tester set not for pass fail but property measurement. Not everyone knows how, but it's not that difficult and I imagine most people who deal in PMs as a business can do it, and would have the comparative data for their own pass fail.

[Recyclersteve]

I still think that it would be far easier to sell $1 million of silver than to sell $200k of platinum/palladium without taking a bath on the price you get. It seems like silver has that much more liquidity.

[68Camaro]

I still think that it would be far easier to sell $1 million of silver than to sell $200k of platinum/palladium without taking a bath on the price you get. It seems like silver has that much more liquidity.

Easier to sell silver, true, but that wasn't the question, and that doesn't mean you can't use Pd or Pt as a means of some wealth transport. Maybe you shouldn't use Pd or Pt as your primary basis for wealth preservation or transport - that much I would agree with.

[68Camaro]

I like Pt and Pd, but at the right price. For me the right price on Pd was $1100 or below (especially triple digits). Been awhile since we saw that.

For me the right price on Pt is below $900, and we are there, but then you have to find it and without a ridiculous premium. I don't personally like anything in Pt except government coin. I don't expect to find much at my price unless spot continues to drop a lot more, motivating some capitulation selling.

Kitco shows Pd at $950 right now, Rich. However, I beg you not to buy any. Such a drastic fall from its once Gold-beating lofty heights…. And why? Is Pd no longer used in catalytic converters?

Who can plumb the depths of Pd price action for us with reliable accuracy?

Almost missed this shin. Well, the time to buy is when "blood is in the streets". If anyone has any Pd coin left, send me a note, I'll consider a buy. I actually have relatively little of either Pd or Pt, so I don't care a lot about wild fluctuations. I didn't sell when the price was quite high (relatively), and if it suits my needs I won't not buy when the price is low. I'm not a flipper.

[68Camaro]

And add Pt coin to my offer. That's not to say that they can't go lower, but I don't think the metals can be mined at these prices and profit at any lower price, so I don't expect the average low (not counting dips, which I don't care about) to go any lower. There is little appreciation for how rare these metals are. They are a long term play, and I'm not recommending them for most people.