Home Site Map

Go Back   Kitco Forums > The Markets > Platinum discussion group
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

Thread Tools Display Modes
Old 04-21-2012, 11:17 AM
namwalker's Avatar
namwalker namwalker is offline
Join Date: May 2011
Posts: 2,656
Default Platinum premium conversation

I was getting ready to purchase another US platinum coin and again was amazed at the premium that was being charged by the particular lcs that I was in. So I asked them why so high the premium. The end result of the conversation was that I wanted to relay it here so I could get your feedback. I ended up buying the coin in the end.

The clerk was saying that even though the price of platinum was lower than gold there were really no platinum fractional coins minted since 2008 and that now the better coins were from 2007 and that the demand for platinum coins was greater than was being seen in the physical market price as reported by KITCO.

IMHO there appears to be truth in what he said, but still I was very surprised to see that the price of coin of platinum was higher than the comparable coin of gold given the price difference between the two metals.

What say you?

I'm just a poor way faring stranger traveling through a world of woe.

Never look back, something may be gaining on you. Run like the devil himself is back there, and may you be in heaven long before he catches up.
Reply With Quote
Old 04-21-2012, 02:43 PM
infowars infowars is offline
Join Date: Nov 2011
Posts: 274

Just take a look at the article posted just a few days ago here in the platinum forum:

According to the Biggest Platinum Producer in the world: Anglo American Platinum.
It is costing them between $1788 - $1851 to mine a single ounce of Platinum.
This is at least $200 more than the current price of Platinum.

Forum Post - https://www.kitcomm.com/showthread.php?t=103624
Article Link - http://www.bloomberg.com/news/2012-0...ins-17-1-.html

"Anglo American Platinum...plans to stem cash-cost increases to between 14,000 rand ($1,788) and 14,500 rand per ounce produced, the company said.

Last edited by infowars : 04-21-2012 at 02:45 PM.
Reply With Quote
Old 04-23-2012, 06:59 AM
Element Element is offline
Join Date: Jul 2011
Posts: 718

IMO it has nothing to do with the price of platinum... It has everything to do with Numismatics.

You can buy physical platinum for $50 over spot.. This is a bar..... Or you can buy US stamped eagles, for some very steep premiums over spot.. Why, because the mint stopped making them in any appreciable quantity some years back..Heck even when they were making them they did not make that many....

Nothing wrong with numismatic investing... You are paying a premium for the collector value, not the melt value.
“Those who desire to give up freedom in order to gain security will not have, nor do they deserve, either one.”
- Benjamin Franklin
Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off

All times are GMT -4. The time now is 11:26 PM.

Copyright@ 2007 Kitco Inc.