Platinum - a buy right now? Better than Gold?

[ChrisSilver]

If this topic already exists and I missed it, then apologies, it can be merged  

Platinum is currently at the time of writing roughly £678 ($876 USD) per oz
Gold is currently at the time of writing roughly £1281 ($1653 USD) per oz

On the 4th September 2019:
Platinum was roughly £802 ($977 USD)
Gold was roughly £1265 ($1538 USD)

If you go back further, 10 years, the difference between Platinum and Gold is much smaller. 

Is Platinum a better buy than Gold right now? In the UK there is 20% VAT on Platinum, but even with this, Platinum may be a better investment long term than Gold? 

[AppleZippoandMetronome]

I considered this a little while back as well and then went on the hunt for platinum coins. What I found was a whole lot of really stupidly absurd premiums almost like the bullion dealers refused to take the hit on the price falling. On paper it seems a good buy - in the real world where you can't seem to get anywhere near spot it isn't so much.

[ilovesilverireallydo]

Royal Mint is doing 50% off on the 1/4 ounce Prince Charles coin which equates to £66 over spot. 

The thing with Platinum is it was used a lot in catalytic converters and the prices fell as demand has been steadily dropping. 

[goldking]

5 minutes ago, ilovesilverireallydo said:

Royal Mint is doing 50% off on the 1/4 ounce Prince Charles coin which equates to £66 over spot. 

The thing with Platinum is it was used a lot in catalytic converters and the prices fell as demand has been steadily dropping. 

That's right ILSIRD.  Catalytic converters in diesel vehicles, to be precise.  Guess what's happening to diesel vehicles these days?  They're all being banned in favour of small petrols and electrics.  There is the reason why the price is no longer going to da moon.  People holding it should be selling while the price is still relatively high, not buying .

[blindguy]

it would not hurt to own some platinum

[Tattoedamat]

Agreed on that and will be my next big purchase as eventually want full set platinum 1oz queen's beasts

[DrakeSavory]

People are right, platinum demand is down because of the reduction in catalytic converters.  Thing is, platinum has pretty unique industrial properties so I'm betting that in the next 5 years there will be a new use we can't even picture now that will drive demand sky-high.

[DrakeSavory]

And in the interest of full disclosure.  I purchased a 1 oz platinum Royal Arms.  That coin is flying under the radar, at least here in the US.  I'm hoping to pick up a 1 oz APE (American Platinum Eagle) later this month.

[Sovereign]

Gold is always going to be a better investment 

most dealers don’t have a buyback price for the platinum and not many/none to sell 

saying that i bought myself my first 1/4oz platinum from the royal mint with the %50 off

it’s exciting to buy something different now and then ..

[DrakeSavory]

16 minutes ago, Sovereign said:

most dealers don’t have a buyback price for the platinum and not many/none to sell 

YMMV.  Around me any large LCS buys platinum.  Most want to buy because they rarely have any to sell.

[Pete]

I am building the Queen's Beast one ounce series in Platinum.
I held back a while when platinum prices rose considerably but since they have dropped recently I ordered a Yale from the European Mint.
Personally I believe Platinum is more precious than gold and either gold is overpriced or platinum is a bargain.
Industrial demand declined with the reduction in catalytic converters but it remains a precious metal and it's day may still come with hydrogen fuel cells so watch this space.
You've got to use the European Mint or GS.be to avoid the 20% UK VAT.
 

[Tattoedamat]

Do I buy it?

[danmc82]

@Tattoedamat Did you go for it? I dont collect queens beasts but it would be nice to have some Platinum.

What other uses are there for Platinum?

[ilovesilverireallydo]

1 hour ago, Sovereign said:

Gold is always going to be a better investment 

most dealers don’t have a buyback price for the platinum and not many/none to sell 

saying that i bought myself my first 1/4oz platinum from the royal mint with the %50 off

it’s exciting to buy something different now and then ..

Most my sources readily buy and sell platinum. I think I have a couple pamp 1oz stashed away I bought at spot. 

[Tattoedamat]

Just now, danmc82 said:

@Tattoedamat Did you go for it? I dont collect queens beasts but it would be nice to have some Platinum.

What other uses are there for Platinum?

I haven't yet as tbh it's still well over spot and I would prefer save and get QBs but...

[danmc82]

Abit dated but an interesting read...

https://www.bullionvault.com/gold-news/platinum-cheap-031120192#

[Stuntman]

I'm going to pick up the 1oz Platinum Royal Arms coin soon.  It will be my third 1oz Platinum UK coin, I already have the QB Lion and a 2018 Britannia.  
Once I've bought this one I don' think I will buy any more physical, but will continue to add to my ETF holdings that I've been buying every few months since August 2018.

I think Platinum's cheap and I can afford to wait for the hypothesis to bear fruit.

@Tattoedamat - buy the coin if you like it or if you think you can flip it for a profit.  Otherwise, pass.  I would pass.

[Tattoedamat]

Agreed on that. It's not part of my platinum strategy so kinda be buying for sale of it which is never a good thing to do

[DrakeSavory]

Looks like this is a good time to pick up a physical ounce

[Nortypeter]

Platinum  right now down to UK £630 ish Oz.

I am now getting very interested and looking for deals,trying to avoid the dreaded vat...….but could it go much lower hmm........worth a punt

[Tattoedamat]

I would

[Platinum]

I am a great deal right now!

[Tattoedamat]

Yeah I'm going to stop gold for a little while and less absolute bargains come up and stack a few ounces want full set of platinum queen's beasts

[Pete]

Just got caught off guard as I don't watch the spot price that frequently.

Is this the time to get some nice one ounce Brits or Queen's Beast ?

[5huggy]

could well be an extremely excellent opportunity @PetePete as the underlying supply fundementals haven,t changed and this is just a drop through fear and panic IMHO

I personally will watch next 2 or 3 days as I think the "REAL PANIC" will be in tomorrow forward - then it (platinum) will be in severely OVERSOLD! bargain territory! 😉👍

Then just ride the next cycle!