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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 04/23/2008 : 16:35:19
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I bought my first little piece of platinum the other day.
There are problems though. First of all, who would be buying platinum at these prices  given that its value has been driven by speculators and not industrial demand (most industrial platinum can be recycled). Second, if platinum ever goes sky high, who's going to want to/be able to afford to buy it off of you?  Third point is, does it have any growth potential at these levels?  Finally, if I'm going to buy an industrial-based PM, shouldn't I just be buying more silver?  That seems to be a rhetorical question.
Comments on platinum? 
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
 Posted - 04/23/2008 : 17:06:49
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quote:
Originally posted by starwarsgeek171
Comments on platinum?
I wish I could afford some.
For investment purposes, platinum may make sense. However, for survival purposes, platinum probably does not make much sense. In "survivalist" circles, gold is not even considered very tradeable WTSHTF simply because it is worth so much. The higher cost of platinum (as compared to gold) only compounds that problem. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/23/2008 : 17:12:00
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"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got."
I've found that if you live by this philosophy, God provides just enough! |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/23/2008 : 17:22:08
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My only problem with platinum is that I think about how much other gold/silver I can get instead. Two ounces of gold in 1/10 oz fractionals and a little silver sounds better to me. I do like the look of platinum. Can I ask what you got?
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/23/2008 : 17:34:48
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| He sold me a 1/10 ounce piece (statue of liberty on obverse) at spot (he was searching for at least 10 mins.). The only piece he has left is a quarter ounce piece (same type) that I'll be picking up this summer with my lump sum check. I picked up more "fractional gold," as well as a slabbed Buffalo silver dollar (Beautiful). But, as I said, I won't be going back for a while, unless it is for planned purchases. |
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fiatboy
Administrator
912 Posts |
Posted - 04/23/2008 : 17:40:41
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You're experiencing "Platinum Guilt." Don't let it get you down. You'll be happy you have platinum when the price goes even higher. Platinum is historically one of the best inflation indicators, as well.
Think about it this way: you now own one of the rarest and most sought after elements on the planet. It's difficult to mine, and its industrial uses are boundless. Plus it has an ISO currency code.
Most cars have catalytic converters, and most catalytic converters contain platinum. That means that tiny amounts of platinum are being used up for just about every car on the road. Trace amounts, yes, but with an element as rare as platinum, every grain counts.
There may come a day when it's impossible to purchase platinum at any price. Who knows? Any way you look at it, I wouldn't worry too much. There is a reason it's twice the price of gold, after all. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 04/23/2008 : 17:55:50
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quote:
Originally posted by starwarsgeek171
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got."
I've found that if you live by this philosophy, God provides just enough!
He does, but sometimes it doesn't feel like it. I have a little whiskey, etc. But, I don't have a boat, and I am working on the "not owing any money to anybody" part. Those mortgages can be difficult to pay down, at least in any time frame that doesn't involve decades. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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fiatboy
Administrator
912 Posts |
Posted - 04/23/2008 : 18:01:20
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On the other hand, look at today's platinum news:
Mitsui says it can substitute silver for platinum in autocatalysts
You must be logged in to see this link.
Just applies to diesel. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/23/2008 : 19:14:33
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| Like nickel, I think that platinum has reached its short-term peak price. I feel there are other industrial metals that could provide greater short-term growth. |
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Think positive. |
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silverhalide
Penny Sorter Member
92 Posts |
Posted - 04/24/2008 : 16:30:05
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| Besides the speculation in the value of the dollar the current high price of platinum is all about the current power shortages in South Africa but there are quite a few negative impacting underpinnings lurking here longer term. One is the new silver catalyst for diesel vehicles expected to be implemented in 2012 and a likely eventual resolution of the power crisis. |
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n/a
deleted
86 Posts |
Posted - 04/24/2008 : 21:51:09
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Platinum does seem rather high in terms of dollars. But dispite from all of above, the dollar will continue to sink on average and there are better investment alternatives in other PMs. However, even when the price of platinum appears at an elevated price from the dollar intimidation pricing, it still is an excellent bargain to the failing dollar.
We wise as we age giving us a better understanding we're not wise. |
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fiatboy
Administrator
912 Posts |
Posted - 04/24/2008 : 23:15:56
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| Short-term, the price of platinum does seem a bit high. However, the military-industrial complex loOOOves platinum, as do the Chinese, so I can't imagine demand falling too much. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/25/2008 : 08:12:47
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| The two points that I like best are the S. African situation (which I have read about) and the military industrial complex demands (which, I must admit, I had forgotten about). Unfortunately for me, those points conflict with each other. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 04/30/2008 : 02:19:44
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I think platinum could play a magnified financial role that gold usually occupies after TSHTF. Gold is a major storehouse of value for major expenses, and platinum could cover those same expenses, whatever they may be, for more people per bar of platinum than the same amount of gold would.
Maybe I'm a minority on here thinking of how my PM holdings could be used to help not just myself but also other people, but just thought I'd throw out the idea of a "community account" function that platinum could serve to help more people at once than gold would. |
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fiatboy
Administrator
912 Posts |
Posted - 04/30/2008 : 03:16:07
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I think platinum will be taken more seriously as a monetary metal when its price remains steadily higher than gold---but I'm talking decades or longer. Perhaps 2x gold. Not that long ago, gold was more expensive than platinum.
However, I wouldn't be surprised if gold starts to play catchup over the next 5 years. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Platinum?
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