Buying physical platinum

aleckara · 19 February 2009

Hi all,

All this talk about buying physical gold is driving me up the wall. From my standpoint I think platinum is starting to run, while gold has already done so.

Where can I buy physical platinum coins/bars? I'm going for small scale purchases such as 1oz.

nunthewiser · 19 February 2009

Perth mint also

aleckara · 19 February 2009

nunthewiser said:
Perth mint also

Do they sell close to spot? I see their coins have a significant premium to the spot price, even after AUD conversion.

I don't want collectors coins. I just want the platinum itself. Will have to call them up and see I guess.

aleckara · 19 February 2009

Looks like Perth Mint don't have any in stock either. They no longer sell platinum coins which is the form I would prefer it in.

Seems much harder to buy this stuff than gold.

sinner · 19 February 2009

'cos of this

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article5704941.ece

aleckara · 19 February 2009

sinner said:
'cos of this

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article5704941.ece

So in order words I'm totally out of luck. That makes it very hard to get any sort of coin. I definitely can't compete with the Japanese masses.

Sounds like a catalyst for the price to go sky high.

On a side note Perth Mint have stated that they stopped producing them since 2000 and they only sell coins that they get back from customers - and atm they have none.

I might just buy Platinum futures via CFD - but I have the cash and didn't want to pay interest on my position.

sinner · 19 February 2009

I was going to suggest just that but you beat me to it.

Personally have no idea or outlook about the platinum market (just spotted the article a couple of days ago), but if you are so very sure prices will rocket just buy some futures and then buy a smaller amount for "free" later with the profit or add it to your capital to cover high physical premium.

Ageo · 19 February 2009

aleckara said:
Hi all,

From my standpoint I think platinum is starting to run, while gold has already done so.

*Cough*

As for the platinum you should be able to source it from any Precious Metal merchant as jewellers need to buy platinum to work with. I have bought a fair amount of it but its useless (just sell it as scrap). If im come across some ill let you know, i dont buy it unless its 98% pure.

aleckara · 19 February 2009

Ageo said:
*Cough*

As for the platinum you should be able to source it from any Precious Metal merchant as jewellers need to buy platinum to work with. I have bought a fair amount of it but its useless (just sell it as scrap). If im come across some ill let you know, i dont buy it unless its 98% pure.

Thanks for that.

In all honesty to my previous comment it could go up or it could go down, but platinum has fallen much further than gold has and personally there is a bit of emotion - I would rather get platinum than gold if I have to go to the trouble of getting it myself (i.e finding someone that stocks it, ordering it, arranging payment, etc). My logic is simply I want some of my money in precious metals and with gold and platinum being relatively close in price my thought was to get the rarer metal just in case one of the many possible scenarios Im seeing play out.

Ageo · 19 February 2009

aleckara said:
Thanks for that.

In all honesty to my previous comment it could go up or it could go down, but platinum has fallen much further than gold has and personally there is a bit of emotion - I would rather get platinum than gold if I have to go to the trouble of getting it myself (i.e finding someone that stocks it, ordering it, arranging payment, etc). My logic is simply I want some of my money in precious metals and with gold and platinum being relatively close in price my thought was to get the rarer metal just in case one of the many possible scenarios Im seeing play out.

You have the right idea about parking some of your cash in PM's (precious metals) but the difference between the metals is that gold is perceived as a currency which is widely used, accepted as payment and is universal. I have never heard anyone accepting platinum for payment which means its only precious to certain applications (unlike gold). But thats just my opinion

Temjin · 20 February 2009

www.ausbullion.com.au sell the bars

Remember that platinum have far less appeal as a "currency metal" because the sentiment still largely focus on gold and silver (slightly less). Platinum act more like a commodity at this time but may rise along with "currency-deflation" speculations with gold/silver.

aleckara · 20 February 2009

That's true, gold is still seen as the premier currency metal but I find that is simply due to its historical significance.

Platinum is a relatively new metal in the game. I think should everything fall apart platinum would still be rarer than gold - actually I think the disparity would be more than currently as there is a lack of local mines and platinum has uses in chemical reactions.

BTW Temjin that was the first place I tried. They are definitely all OUT. No one has stock at all after calls to them, Perth Mint and others. ABC only have 500g platinum bars, way out of my price range.

The way I see it is this. If inflation plays out it should folllow gold somewhat. If things return to normal in the next boom platinum will travel further away from gold. If we recover gold will fall more than platinum as platinum tends to do better in good times and tends to be at parity or close to in times of fear (like now).

Temjin · 20 February 2009

lol ouch 500g, I only ordered silver from there. Quite ok so far.

As for the inflation part, it's going to really take a while and alot of effort to push it up. I will be posting a separate thread to discuss this soon.

DB008 · 11 May 2009

Scroll to the bottom

https://online.kitco.com/bullion/completelist.html

projack · 13 May 2009

I used to buy platinum under spot on ebay coin dealers auctions, but in the last few years premium on any form of physical platinum is extremely high. However you might get lucky occasionally on ebay http://coins.shop.ebay.com.au/items/Coins__platinum_W0QQ_dmptZAUQ5fCoinsQ5fAustralianQQ_flnZ1QQ_sacatZ11116?_rdc=1 , or get it from the US like apmex.

Buying physical platinum

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