Platinum buy in price??

[Stacktastic]

This is a very quiet section of this forum. 😛

I have noticed that platinum has be down ticking ever so quietly in the background of silver and gold. 

My question is is this a unique buying opportunity, what is causing this price drop & whats the level you buy in??

Looking at the charts anything mid 600's is good thats when I bought my platinum last year.

Thanks

[Pete]

I too am sitting in the starter's box ready to buy Platinum BUT .... dealer margins are way over the top .... AND ... how can you circumvent the 20% VAT

I was buying Platinum coins - Queens Beasts for example - before Brexit from the European Mint and GS.be as the cheapest but even they are marking up Platinum way too high.
Pity Atkinsons, Chards and others cannot sell used Platinum at the differential VAT rate and with similar percentage gold premiums over spot.

[modofantasma]

I occasionally consider it but then as Pete mentions, due to the margins and tax I don't feel I'm getting a good deal and but more gold or silver instead.

There was once a quarter oz pt coin in the lcs when I was there but just isn't something he said he sees a lot of and doesn't get many people asking for it. 

 

[KevinFlynn]

I bought when I came back from a hiatus and platinum spot was lower than gold's. No second thought about current dips or peaks. I feel that the potential is there for rising above gold spot again (no Mike Maloney vibe here), which will easily compensate for VAT. I think it will be a long term investment however.

I'm not sure I will buy more, as I'm comfortable with what I have to not miss the opportunity. Ask me again if spot goes down to half that of gold's however.

[Pete]

8 minutes ago, KevinFlynn said:

I feel that the potential is there for rising above gold spot again (no Mike Maloney vibe here), which will easily compensate for VAT. I think it will be a long term investment however.

I agree that the upside potential, maybe even in the short term, is likely to supersede the 20% VAT but that isn't any reason to buy when we should be able to find a solution to not paying the unfair VAT in the first place. Cheap flight to Estonia perhaps ? Maybe pick up a few ounces when we can travel to the USA.

[Stu]

I own a small physical amount of platinum and also think it has good upside potential. Given the vat situation however and the relative small scale additions I will make, I am prepared to take a chance going the ETF route in this instance. sacrilege I know.

[dicker]

I don’t buy platinum, simply because of the VAT.  I would be “under water” for too long.   

[Stuntman]

I have 5 oz of physical Pt, which is as much as I want to hold right now.  If the Royal Mint releases some special 2022 Platinum Jubilee themed Pt coins I will add to my physical stack but only if the coins are bullion rather than proof.

I recently added to my Pt ETF holdings when the price fell back below £700.  I think I have enough for now and have about 30 oz, bought in at an average price of about £675.

I think it's probably good value to buy below £750.