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New to platinum


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Morning folks hope all is well.

Back into stacking and considering adding a couple of Oz of platinum to my stack (rather than silver).  

Just had a look on the mint and you can grab 1oz Brits from there but with around 29% mark up (mark up and vat). 

I've not looked into this PM before and would appreciate any hints or tips if willing to share. 

Where is a good place to buy bullion 1oz coins from? 

Thanks 👍

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I think the RM price is fair with only a 9% markup but plus VAT.
Last year you could avoid the VAT buying in the EU.
Margins were also lower but creeped up substantially due to lack of availability of the metal for sale.
Looks as if just maybe these margins are getting more reasonable BUT....BUT... the 20% VAT is a killer.
Personally I would not be prepared to pay 20% tax, when it can be avoided across the channel, as this is too much of a loss to bear when trying to sell.
VAT on silver coins costing £24 is still 20% but people buying don't seem to care too much but platinum is definitely in another league.
Maybe you will get lucky finding a seller on the forum but if platinum looks like a deal it will go before you even knew it was up for sale unless you become a premium member.

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Yes probably because 20% of £25 for example appears smaller in pound and pence terms and the unit price/initial outlay of a silver coin is lower than a £1,000 plus purchase for platinum.

I will be open and say anything I buy isn't for me, its for my kids.  Although I sold some silver a few years ago, this was to invest in other things, not to bail me out financially.

So 20% on platinum and silver may be nothing if and when my kids sell it in 40/50 years time.  Who knows?

I will be upgrading membership shortly no worries there.

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I like your intention of leaving something for your kids. It's definitely nice to have a varied stack!

In my view, platinum's use case as an industrial metal isn't that varied (plus, higher melting point) and it is a metal which although I agree is undervalued, I unfortunately don't see longer-term use of platinum. Personally, I would buy some platinum simply to have exposure into it, as to not have "all eggs in one basket" but I would keep my staking focus on a specific metal - of course varies with each person's stacking strategy (if any).

In silver I see more applications in the future than platinum, especially during this transitional period of new technologies and "green energy" etc. However, down the line I'm sure silver will be substituted by graphene as it is as conductive and transparent (although it is more brittle - unless they reinforce it somehow).

I look at platinum's 20% vat with an 9% markup and I can only think of the amount of silver the same value would get me. Then again, at current silver premiums, with the apparent "silver rush", probably platinum is being overlooked. So it really depends on your strategy, but I can agree diversifying is good. If I could afford a full platinum ounce, I'd buy it since the fractional(s) have significantly higher premiums.

There's a thread called Platinum Deals, I recommend you check it out and sometimes the odd deal comes over in there. Or as Pete suggested, having a membership will allow you to see a whole lot of other coins available :) 

 

 

Edited by stackerp5
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Thanks for that link above.

I'm just thinking with silver now +20% due to VAT where does that leave Platinum?

I've got 50 Oz of silver left (not much compared to some) and just think maybe adding one or two 1oz platinum coins to the gold I plan to purchase would mix it up Futher.  

I can spend £2k on silver and pay VAT or spend £2k on Platinum and pay VAT (example I don't currently have the funds for the platinum purchases).  Now I will get a lot more silver for my £2k...but which has the better potential upside over the longer, longer term?

Also, storing £2k of platinum is easier than £2k of silver lol 

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Personally at the moment I think that gold is the most fairly priced, silver is looking a little toppy and platinum is somewhere in between.  Clearly this is just my personal view.

Historically (as you will probably know), platinum was more expensive than gold, so perhaps platinum is still very much a buying opportunity even after factoring in the premiums and the VAT.  29% is as good as it has been for a long time, perhaps at least 2 years.

I have got 5 oz of physical platinum that I have happily purchased new, suffering the premiums and the VAT.  While I have timed these purchases quite well, I didn't buy them in the expectation of maximising profits.  For that, I would use an ETF and get in and out of the market as and when required.  I have about 26 oz in an ETF and currently that's a long-term hold, but will get sold eventually.  I'm not adding to my platinum exposure at the moment but I continue to buy gold.

Edited by Stuntman
terrible spelling
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I am mainly purchasing gold now with the odd bit of silver here and there.  

Going to add the platinum just to aid diversification in my PMs.

Not interested in ETF holdings as I have enough exposure to markets in other assets / investment vehicles for my own personal use.  These PM are just sitting in my safe and when I pop it the kids can have them.

Plus let's be honest, it's more fun this way lol

Edited by Nugget
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  • 4 weeks later...

Okay, so once my accountant has worked his magic I will have a few £££s that I can make a purchase with, outside of my usual monthly one.

I will not be using the full amount available but say £2-£2.5K that I could dump into something and forget.

Silver just is not looking that attractive at the moment and Platinum looks to be lower in historical price currently.  I will have to pay VAT on either, so that shouldn't be a factor.

I am looking at the B&Co platinum bars from Bleyer or direct as they appear to have a lower premium than the 1oz coins I have seen.

What are peoples thoughts on say buying two of these 1 oz Platinum bars over a coin?  In 30 - 40 years time when I have gone, will it make a difference to the kids coming to sell them?  Long way away hopefully, and I am thinking no - so just buy the one with the cheaper premiums?

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So another couple of kids who have nothing to aspire to because Daddy has fixed it for them?

I'm joking of course, don't take it personally, but aren't there enough people in the world 'taken care of'?

😁

Technically, alcohol is a solution..

In Omnia Paratus.

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15 minutes ago, Roy said:

So another couple of kids who have nothing to aspire to because Daddy has fixed it for them?

I'm joking of course, don't take it personally, but aren't there enough people in the world 'taken care of'?

😁

I couldn't agree more with this.

PROUD to be TRANSRACIAL.

Biology IS bigotry.

Coronavirus is made up and no-one has died from the imaginary virus.

 

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Posted (edited)
1 hour ago, Roy said:

So another couple of kids who have nothing to aspire to because Daddy has fixed it for them?

I'm joking of course, don't take it personally, but aren't there enough people in the world 'taken care of'?

😁

I am not sure why you felt the need to talk in the manner you have.

I do not know you and you do not know me.  You have no idea how my life started and how myself and my brother have worked to get where we are in our respective fields.  I have 4 degrees and a masters that I funded myself having left school with drop out GCSEs and started working at 16 on a whopping £2.53 an hour! 

I have never taken a penny of support from the Government - not a single penny in any benefits - and pay my taxes on time (even through Covid).  I have staff I have kept on FULL salaries, set them up at home and not made a single person redundant.  I have taken NO support for my businesses throughout this period.

Yet you feel it is okay to belittle efforts I am making to ensure my children don't have the start to life that we did?  I find it offensive and rude.

You and AUStack are completely entitled to your opinions...I was always taught that if I had nothing nice to say, or nothing to add, sometimes the best thing to do was say nothing at all.

I will continue along my path and you two yours!

Enjoy your day and have a great weekend.

 

 

Edited by Nugget
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7 hours ago, Nugget said:

I am not sure why you felt the need to talk in the manner you have.

I do not know you and you do not know me.  You have no idea how my life started and how myself and my brother have worked to get where we are in our respective fields.  I have 4 degrees and a masters that I funded myself having left school with drop out GCSEs and started working at 16 on a whopping £2.53 an hour! 

I have never taken a penny of support from the Government - not a single penny in any benefits - and pay my taxes on time (even through Covid).  I have staff I have kept on FULL salaries, set them up at home and not made a single person redundant.  I have taken NO support for my businesses throughout this period.

Yet you feel it is okay to belittle efforts I am making to ensure my children don't have the start to life that we did?  I find it offensive and rude.

You and AUStack are completely entitled to your opinions...I was always taught that if I had nothing nice to say, or nothing to add, sometimes the best thing to do was say nothing at all.

I will continue along my path and you two yours!

Enjoy your day and have a great weekend.

 

 

Ignore him he makes derogatory remarks on peoples threads, i think he may be a broke left wing looney

everyone leaves something for their kids/family, for some it may be property or cash, for others valuables like PM’s.  

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Posted (edited)
7 minutes ago, silvernewbie said:

Ignore him he makes derogatory remarks on peoples threads, i think he may be a broke left wing looney

everyone leaves something for their kids/family, for some it may be property or cash, for others valuables like PM’s.  

Ah it's okay, I had a fair few PMs saying the same 😂 Appears he's viewed a little like the forum troll lol.

I have thick skin so very little bothers me. 

Thanks though 👍

 

Edited by Nugget
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Good for you.. I come from a working class background and managed to get a good job and nice things. My two boys are also hard working and (without any help from me) got good jobs and climbing the corporate tree. However, I don’t see why I can’t also leave them something once I am not around and it amazes me the views that it’s wrong to do so.

BTW @BackyardBullion was selling some platinum coins a week ago. Not sure if that’s all done now but they were a good price

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its because there's no better way to disincentivise kids than to just give them things.  Its normal for those who have struggled through early life, to want the the best for their children, at least in material terms. They they end up being spoilt and this is what the original post was about i think. As with all generalisations, there are always exceptions, and i don't think the comment was in aimed directly at you Nugget.

Nothing wrong with occasional hand me downs though ! My old man got me into PM's but he never gives them to me for less than spot 🤔

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Posted (edited)

Cheers spark268.

I'm not too worried about other people's opinions, to be honest couldn't care less.  Each to their own and all that.  Just find it odd that he decided to discuss my kids on the forum when he knows nada about me or the family. 

If Roy and AUstack haven't got the means to leave stuff to their kids / loved ones, or don't want to for whatever reason, then that's their life choice 🙂

I do however deal with money and money matters daily and have clients with very significant wealth.  I would agree that in some cases children who come from extremely wealthy families can be spoilt whereas, I tend to find my self made clients and their families are much more in touch with reality. Live far more modest lifestyles, don't have the cars on PCP and 5x salary mortgages and Rolex watches on finance. (I don't even own a Rolex lol no intention of buying one either I will add).

I have no intention of making my kids lives too easy. I've worked hard and they do (at school which is all I can ask currently).  My son has a part time job and saved up money to buy his own new Xbox thing...so they understand the value of money. 

🙂

It's a forum and the internet you expect some daft comments now and again.  

From the PMs I've received, it appears he's like this on occasion 👍

Edited by Nugget
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Also just to add, for closure.

I have been offered via P.M. some one ounce Brits from a couple of forum members, so will more than likely go for those as my option 🙂

I am not really interested in going over the comments Roy and AUstack made any further (can if people want but I don't see the point personally).

We are all different and got to where we are in different ways. 

Happy to just leave the thread as is now ☺️

 

 

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I like Platinum but two things are preventing me adding -

1. The volatility of price and Platinum is somewhat high ( albeit perhaps still cheap compared to gold ).
I am waiting and hoping for drops before committing.
Dramatic fluctuations in price do happen but are also short lived and if price does dip heavily then availability also rapidly disappears.
I failed to find any coins in the EU before the VAT kicked-in as no-one had inventory and those that did were seeking astronomic premiums.

2. VAT at 20% which you can never recover so you have to see a 20% rise in spot as a minimum to break even.
Perhaps someone on the forum will decide to sell a platinum coin or bar to take some profit.
Selling to any dealer will not give you a good price, not even spot, so maybe a seller would be happy to sell above a dealer buy back but not with the 20% VAT premium included.

I always believed that gold would dip from its summer peaks and maybe ( ??? ) this is now a good time to buy some gold.
 

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Hi Pete,

I agree VAT is a killer and I would only be looking for a couple of Oz just to add a bit of diversity within the PM side of things.

I was looking at the charts on BBP and thought if platinum spot came down to say £800 or below, then it wouldn't be too bad (again in my opinion) for a little punt (so to speak) as there have been a couple of occasions in the last 20 year period that prices have been over the £1000 spot mark.

It's all a risk at the end of the day 🙂

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7 minutes ago, Nugget said:

Hi Pete,

I agree VAT is a killer and I would only be looking for a couple of Oz just to add a bit of diversity within the PM side of things.

I was looking at the charts on BBP and thought if platinum spot came down to say £800 or below, then it wouldn't be too bad (again in my opinion) for a little punt (so to speak) as there have been a couple of occasions in the last 20 year period that prices have been over the £1000 spot mark.

It's all a risk at the end of the day 🙂

I kind of agree and I am hoping to continue adding the remainder of the one ounce Platinum Queens Beasts.
As long as Platinum remains far below gold, personally I see this as worth a punt, but I would drip buy physical gold in parallel.
We need a nice person to hop over the channel and bring us back some "precious".

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