1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Time to buy platinum?

Discussion in 'The Main Board' started by hypnos, Apr 6, 2019.

  1. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    I was in a coin shop today, sticking to my tangibles plan and aquired a good price on a few Liberty 1oz silver dollars.

    With the market screaming on gold, it seems like many have forgotten about Platinum, and not that long ago, it commanded a much higher price than gold.

    I suspect it could rebound, and also it is available in US minted proofs in 1/10 and 1 oz varieties. I am also interested in 1/10 oz gold coins, but maybe after the demand drops a bit (will it????)

    Any thoughts?

    Recently my crypto has done pretty well, infact one of my larger crypto assets doubled, so to the coin shop i went to get some tangibles to keep all my financial eggs out of the ETF/stocks/crypto basket. My current investmeny strategy is TAA, or tactical asset allocation. However, my retirement is 90% blue chip stocks with a few high dividend stocks added in, what strategy works best for you?
     
    Last edited: Apr 6, 2019
    jdp likes this.
  2. Atlas

    Atlas Administrator Staff Member

    Joined:
    Mar 4, 2016
    Messages:
    4,969
    Likes Received:
    3,578
    Maybe platinum is good, but I personally wouldn't buy a coin. The value in coins is that they are recognizable by average people and therefore have a possibility of being used as barter. Platinum coins may not have that same value.

    The old saying goes, it's only worth what someone will pay for it.
     
    jdp, hypnos and twp like this.
  3. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    They are actually US minted platinum coins, face value of $100.00 if memory serves.
     
    jdp and Atlas like this.
  4. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    Last edited: Apr 7, 2019
    jdp and Atlas like this.
  5. Atlas

    Atlas Administrator Staff Member

    Joined:
    Mar 4, 2016
    Messages:
    4,969
    Likes Received:
    3,578
    It's real nice, but that's not my point. If you put one of those in your hand then ask every person you work with if they have ever seen one before my guess is they would all say no. That means. If you ever had to barter or sell it, finding someone who would pay your asking price is going to be very hard.

    Junk silver is going to be the easiest PM, because everyone knows pre-65 coins are silver. All coins other then that are going to take some effort.

    That being said, it's not a bad idea because there is value in it and it will probably go up in time. It's just not for me.
     
    hypnos and jdp like this.
  6. Jerry D Young

    Jerry D Young Active Member

    Joined:
    Jul 14, 2016
    Messages:
    380
    Likes Received:
    736
    First, my thoughts on platinum, palladium, and rhodium: Only for use as a 'second job' asset. What I mean by 'second job' asset is any asset that will not have nearly as much, if any, value after a worldwide financial apocalypse or anything that puts us into a PAW (Post-Apocalyptic World) situation. Almost all current 'conventional' investment type assets. Stocks and bonds and the other paper recorded assets that are being bought, sold, and traded regularly. Crypto financial items not backed by physical assets that can be easily retrieved. Even some physical assets, such as those that cannot be actually used during and after a major event.

    My additional thoughts on the subject.

    Just my opinion.
     

    Attached Files:

    hypnos, twp, jdp and 1 other person like this.
  7. jdp

    jdp Member

    Joined:
    Sep 6, 2018
    Messages:
    96
    Likes Received:
    155
    Jerry and I think the same way. I'll invest in those types of things, but I know if it crashes it all goes away.
     
  8. Sally Rudd

    Sally Rudd Active Member

    Joined:
    Aug 20, 2018
    Messages:
    323
    Likes Received:
    523
    I agree with you @hypnos. Having a varied and tangible portfolio is a great idea for future-proofing your savings. PAW aside, it makes sense to me not to have all your eggs in one basket or pension plan. None of us have a crystal ball and planning ahead for just one scenario could mean you're missing out on a great deal. Assuming the world has not gone to custard by the time any of us retire, Platinum could well be a worthwhile investment, as it is a major component of catalytic converters, computer parts and a myriad of other modern necessities. As one of the rare earth metals, it has real value.
    I only have one Platinum bar, but once my finances return to normal (moving house was a great way to clear out any potential spare money!) I will be buying Gold, Silver and Platinum once or twice a year.
    ETA. Palladium might also be worth a look
     
    Last edited: Apr 8, 2019
  9. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    Great information @Sally Rudd !!! I'm considering minted coins, rather than bars. The proof mark helps with identification of exactly what they are in trade as @Atlas pointed out. Are you buying for raw melt value? Is that the advantage of bars, a little cheaper? I have never bought them myself. Paladium i never considered but it could be a great investment. I currently own shares in Ford motors, and i hear they are releasing their first electric work van in Europe, this year i believe. With electric cars becoming more popular would you entertain the possibility that platinum will drop in value?
     
  10. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    I am trying like hell to invest in graphite mining companies (graphite is the highest grade of coal) unfortunately for us, China has the highest concentration of it. More unfortunate still, all of the newest electronics and batteries will use "graphene" a graphite that is restructured to be extremely durable (one of the hardest substances know to man, with ultra high tensile strength) yet the material retains flexibility, the newest phones will be foldable, and use that technology (samsung to release sometime this summer) but it is also a superconductor that is excellent for use in batteries. I'm really hoping to find a way to get invested for the long term. What do you suppose @Sally Rudd ? Dow chemical stock is low right now, maybe Dow and dupont would be good picks. I did buy some 3M because of their knowledge of films and adhesives currently used to make graphene in small amounts by taking material away from a piece of graphite down to a single layer. Anyway (sorry, went on a nerd ramble), that's what i am looking at right now.
     
  11. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    Safe is good, and having your finances backed by tangible items is important.
    My strategy right now is build to preserve.

    I am playing the market, yes. I have some higher risk stocks, cryptocurrency, as well. But, i am only using them as a vehicle to get to a certain point financially.

    I realize that the entire financial system could collapse tomarrow, i also know i could die tomorrow in a gory accident at work involving a poorly trained forklift driver and a few 1,000lbs of building materials. But, i can't live safe all the time, simply buying gold and silver at whatever price i am able to find it.
    I'm only explaining my position, and everything you have said i agree with as far as I can tell, my basic outlook on the situation is this:

    There are several things i need and that I want, that i can afford, but then I will become a slave to those things. Like a mortgage on my retreat, and a new vehicle.

    I certainly could push all the money into building prepper Paradise right now, but i wouldn't have the flexibility or freedom to do anything else.

    My strategy to have my cake and eat it too is the knowledge that in 5 years, on only one of my investment accounts I am looking at a projected growth of the money i would need to buy the property I want outright.

    Assuming I invested what i would have paid in a mortgage into one if my accounts instead. That's only one account, and that is only 5 years! Of course, who knows what the property value will be in that time, or if i will even earn that amount with the market highs and lows. So, every time one of my investments does well enough to earn money, i remove a portion of that money and purchase a tangible item. Such as a 80% reciever, silver, ad nauseam.

    If the great collapse finally happens, i don't suspect realestate being very hard to come by, all i need to do is look for "obama biden/bernie sanders, and coexist" paraphanalia to know where the dead people are. Dead people don't mind when you use their stuff. (I assume)

    My strategy is a little unorthodox, for preppers I admit. But nearly everything i do is. :)

    The other problem for me (because i am on the road working constantly) is i do not have ideal means to store and defend allot of tangible items. Unfortunately, password protected digits are the best I can do for now. (Although i am definitely investing in tangible assets, and have hard currency on hand)
     
    Jerry D Young likes this.
  12. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    I may finally be done paying a 30 year mortgage when I'm retirement age, but by then i will have given the bank about half a million dollars that they will have gained the interest i could have earned on. To me that is crazier than dumping all of my earnings into bitcoin and praying for the best. (Not that I'm doing that, that is nuts)
     
    Jerry D Young likes this.
  13. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    I get what you are saying now, but that os part of why i want proofs, mint markings of government quality are extremely difficult to duplicate, and its level of purity is easy to ascertain. I am not out for rare coins (i collect them when i find them) but, assuming that life liberty and the pursuit continue on, they may as you say, be worth what somone is willing to pay but in a positive light from collector value standpoint, if not then they will at least retain melt value, whatever that happens to be.

    Design the cake,
    Make the cake,
    Have the cake,
    And eat the cake.

    That is idealism at its finest. But, maybe?
     
    Last edited: Apr 8, 2019
    Atlas likes this.
  14. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    Just checked one of my other accounts, its up 34% since i first invested...there really is something about making more money while you are already at work making money that just gives me the fuzzies. Like everyone has cautioned, it could go away, fast.
     
    Jerry D Young and Atlas like this.
  15. Atlas

    Atlas Administrator Staff Member

    Joined:
    Mar 4, 2016
    Messages:
    4,969
    Likes Received:
    3,578
    I agree it does feel good. Sometimes it goes away, and sometimes it does not. When you cash it in with a profit, it feels even better. Don't forget that part of the process is cashing in at the right time.
     
    Jerry D Young and hypnos like this.
  16. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    Yes, the cashing in is the important part! :)
    If i can have an effect on the prepping community it is one of cautious optimism, and not nihilistic pessimism that has more or less been the staple.
    There are 1,000 calamities. It is no more or less likely for a person's home to burn to the ground then it is for the Yellowstone volcano to blot out the sky. We can buy a fire extinguisher, but none of us will live forever.

    The fascinating thing about prepping and companies that cater to us, is that the fear mongers always have something to sell. And if we are the vigilant ones, then we ought to be as slow to accept the threat of our impending doom (and part with thousands of dollars in the process, getting ready for the next snafu) or we can do what we know works and makes sense. Living sustainably (which preppers are way better at than the yuppy technocrats) and being financially independent of our overlords (our bosses, government, and politics)

    If you have the preps in place, and you are ready to go, maybe a year food supply, maybe all the ammo you need, and some tangibles etc, what can the market do to scare you?
    If i lost everything i have invested now, I'd barely notice. That used to be my drinking and fast food money. (Ok, more my drinking money) if the market took a dive, I'd probably buy more at a lower price and hold it. It wouldn't hurt me one bit. I could sell it all off, just to buy it back even lower, and if it didn't work? I have enough gear i really wouldn't give a crap. The little i have is more than i have survived on in the past as far as equipment. Being a prepper gives me the advantage over every desk jockey in wallstreet that can't afford not to make a buck.
    I'm a cautious optimist now, and it has done more for me already than being a scared shitless chicken little ever did for me.

    The other side of that is, i really used my preps when things went to shit. And they always did, because i believed the collapse was at hand...time to get a tricked out gun and survive!!! Except it didn't work that way, i had my own TEOTWAWKI , but it didn't happen for everyone else. My gear has been the best insurance policy i could have asked for! But i neglected other important life things just to be ready for SHTF and then go to the bar and drink my life away. How stupid? Hahahaha
     
    Jerry D Young and Atlas like this.
  17. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    I am working hard, very hard, to preserve my earnings. Sure, i take some liberties, i don't follow my own plans to the letter, but practice makes perfect. I found a dealer that gave me a bulk discount on silver, i took him up on that with some of the money i made with crypto. I left some in for savings and as part of my "digital prepping" portfolio.
     
    Atlas likes this.
  18. Sally Rudd

    Sally Rudd Active Member

    Joined:
    Aug 20, 2018
    Messages:
    323
    Likes Received:
    523
    I buy rare earth metals to boost my pension and protect my long term wealth. So I'm not overly bothered about price now or in the future, it's simply a means of keeping my money with me instead of with any sort of bank or financial institution. I'm not a gloomsdayer and don't really buy in to an apocalypse but I have seen in my lifetime the collapse of banks, raiding of pension pots and financial shenanigans aplenty and I have no trust whatsoever in any of them. That's not to say I don't have money invested in any of them, just not all of it.
    I occasionally buy scrap gold and silver (old jewellery etc) and it is this I would first use to trade if I had to. It is easier to snip off a few links of a gold chain, or swap a small ring than lose a whole coin. For me coins are for providing finance not swapping for goods.

    @hypnos Palladium is just something you might want to look into as it is another rare earth metal used a lot in industry and is selling at a higher price than both Gold or Platinum. As always do your own research.
     
  19. hypnos

    hypnos Moderator Staff Member

    Joined:
    Aug 7, 2018
    Messages:
    1,961
    Likes Received:
    2,370
    Thats a bit of genius with the scrap jewelry. The only reason i was asking about value dropping is simply because i may want to wait to buy. Please let me know if you start seeing ship loads of Ford electric vehicles! :).

    From the standpoint of preservation of assets, @Atlas I'm assuming your vote is for bars? You too Sally ? I'll definitely look into it. I was told to steer away from that form of precious metal. So i took that information as gospel when i should have dug deeper. Why bars?
     
    twp and Atlas like this.
  20. Atlas

    Atlas Administrator Staff Member

    Joined:
    Mar 4, 2016
    Messages:
    4,969
    Likes Received:
    3,578
    No bars for me. Minted coins only.
     
    twp, hypnos and Jerry D Young like this.

Share This Page

LINK CODE
We post links, such as those above, to websites which we like and which have content compatible with our website.

We particularly appreciate having a reciprocal link agreement with you, in which you agree to place a link back to us on your website.
For that purpose, we offer this HTML link code which you may place in your website.
Note that our logo image size defaults to 300 pixels width and 50 pixels height.
It looks like this:

You may use copy/paste in this box.