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wrestlingbulls | 03-08-2008 07:36 PM
platinum question I currently have 6 ounce of platinum and was wondering what recommendations anyone has about holding it or selling it? I bought all the ounces between 1300-1600. Should i sell it all and buy gold and silver or just sell half of it and see what happens with platinum in the long run. I plan on collecting for awhile and really not wanting to sell anything for a very long time. I am currently 30 and this is my hobby. thanks for any recommendations!

Twisted Avatar | 03-08-2008 08:14 PM
Re: platinum question Quote:
Originally Posted by wrestlingbulls (Post 1002129) I currently have 6 ounce of platinum and was wondering what recommendations anyone has about holding it or selling it? I bought all the ounces between 1300-1600. Should i sell it all and buy gold and silver or just sell half of it and see what happens with platinum in the long run. I plan on collecting for awhile and really not wanting to sell anything for a very long time. I am currently 30 and this is my hobby. thanks for any recommendations!
Only you can answer that question...... because only you know what your long term goals are........ that being said.....platinum is pretty far out of reach for most folks so it may be a bit challenge to unload on a local shop keeper or small outfit at the higher price levels (dont take for gospel just grabbing at straws). But I would like to make a very important point that all of the memebers will back me up on. NEVER ......I REPEAT NEVER DISCLOSE HOW MUCH METAL YOU ACTUALLY HAVE IN YOUR POSSESION THAT IS YOUR BUSINESS AND YOUR BUSSINESS ALONE!!!! We must remain vigilent.......even of each other. But I must admit that would be a great position to be in!! T

goldminer | 03-08-2008 08:56 PM
Re: platinum question What Twisted Av. says = gospel. Many little guy holders and investors avoid Pt (and Pd) because they have no history of any link to currency and thus are purely industrial metals. Much of the worlds Pt is mined in Russia and So. Africa which have governments that are anything but reliably "stable". There have been reports that these two governments also work together to manipulate supply and the subsequent price of Pt. In addition, future prices are exceedingly unpredictable. Industry has its own lifeworks and secrecy related to research and development. The lifeworks with it's secrecy is uncertain itself but become many more times uncertain for anybody who does not have good insider information about research, product development, and current & planned future uses and production. And one must factor in that the nobel metals (among which are Pt and Pd) while different, also have many commonalities so a metal that is used in a specific application today, may well be substituted with another metal because of rising prices = less demand which impacts it's price. As posted above, you need to do your own research and make an informed personal decision about what, type, and amount of metals you want to hold. Diversity is always a good idea for those who don't know what the "winners" will be tomorrow. This is virtually all little guys. The key is to keep risk (in whatever form) at a minimum. Good luck with your decision.

EE_ | 03-08-2008 09:49 PM
Re: platinum question First of all, I do not fully believe the power/infrastructure problems are solved in SA. Platinum price was getting out of control...it's easy to say all is well again to suppress the price for now. From what I know, things are pretty bad in SA and getting worse. People are leaving in droves and things are getting very unstable. I've decided to hold on to my pt for now. Here's an article you might find interesting? http://www.africancrisis.co.za/Article.php?ID=23829& Meanwhile Rhodium keeps climbing toward $10,000! Platinum...the most dense metal you'll probably ever hold in your hand! EE

grasshopper | 03-08-2008 11:32 PM
Re: platinum question Assuming you've got platinum American Eagles, I might keep them depending on the year just in case they have numismatic value some day. The mintage numbers over the last few years are extremely low: http://www.usmint.gov/mint_programs/...=MintageTotals

DrillAndFill | 03-09-2008 12:54 AM
Re: platinum question Personally, I'd hang on to your existing platinum and use fresh funds to plow into other metals. The dealer spread on platinum Eagles is frickin' murder -- avoid selling unless you're cutting your platinum allocation for good. A broad pullback in precious metals seems likely within a few weeks or months, but nobody knows when or how much. If there is to be no pullback, you'll be glad you hung on, and if there is a steep drop, you can easily start piling up other metals anyway. Don't sell more than half your platinum right now.

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