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- - 1998 Gibraltar Platinum Coin.....Good Buy? (http://goldismoney.info/forums/showthread.php?t=425090)

hydro | 11-18-2009 12:40 PM
1998 Gibraltar Platinum Coin.....Good Buy? Have any of you ever heard of a 1998 1/25 ounce 0.9995 platinum Gibraltar coin? On the front is an image of the Queen, and the back has an image of two angels. I have not been able to find anymore information online for the platinum coin, but I have seen a few 1/25 oz gold coins. The dealer I do business with has one available for $79.00. With spot platinum at $1455.00, 1/25 ounce comes out to about $58.20. The difference is about $20.00, which is a premium of $500 per ounce over spot. When looking at the 1 and 5 gram platinum bars on the APMEX site, the premium appears to be in line with what they are offering (1/25 is about 1.24 grams). I have several platinum eagles and koalas and I know these are the more familiar coins. I have just never come across a Gibraltar platinum coin. I get the feeling that they are used more for jewelry than as an investment. So, should I bite, or just pass on this?

Traderbock | 11-18-2009 12:59 PM
Re: 1998 Gibraltar Platinum Coin.....Good Buy? IMO, these ridiculous premiums are bogus nonsense. The practical explanation is that it costs the same to mint a 1/25, as a 1/10 or 1 oz. Ok, but that doesn't begin to explain the crazy premiums on the small stuff. Having enough trouble understanding the high as a kite premiums on platinum.

HomesteadHarry | 11-22-2009 06:40 PM
Re: 1998 Gibraltar Platinum Coin.....Good Buy? At that price, I'd bite and chew. Small platinum commands a very high premium, and that's a very reasonable price for a pristine coin with an English language quantity and fineness.

hydro | 11-22-2009 08:50 PM
Re: 1998 Gibraltar Platinum Coin.....Good Buy? Quote:
Originally Posted by HomesteadHarry (Post 2039299) At that price, I'd bite and chew. Small platinum commands a very high premium, and that's a very reasonable price for a pristine coin with an English language quantity and fineness.
Still sitting on the fence with this one. Most of my platinum purchases were made after March 2009, so with platinum at $1450 an ounce now, I have more than made up for the premiums. I have just never come across or purchased a 1/25 ounce coin. I'll post a pic if it ends up in my hands.

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