Selling Rhodium

[Pampfan]

Just thought I’d share this information 

was at Bullion exchanges in nyc the other day and I was curious as to what the buy back price was on a 1 ounce pamp suisse rhodium fortuna bar. 

The nice guy at the counter stated it was spot -$400. I thought to my self wow - that is a crazy spread from spot price. So if you look at the difference in the bid price - which is already $200 less than the buy price - that is a $600 spread. 

Bid was at $3,150 and ask was $3,350. 

So if my math is right - they would pay $2,750 for a 1 ounce rhodium bar. 

Just something to think about for everyone heavily invested in rhodium - if you buy it at current prices - it will take a huge increase in spot just to get your initial investment back.

(I was very lucky to add my one bar to my collection a few years ago when it was still cheap - LOL)

 

[Stu]

I think the physical purchase is minuscule in an already small market that the dealers just wave their **** at you. I would just hold ( no Conitation inferred) until your kids are ready To receive. 

[goldmember44]

Highly illiquid, due to extreme scarcity and value. They obviously want to prevent some guys from buying everything in order to make a quick profit.