Is platinum a good buy or is it too new to treat the same as Gold

[LawrenceChard]

48 minutes ago, Gunnerwood said:

I’m strongly considering adding some platinum to my portfolio but it’s the high premium and vat that is making me think again and stick with gold. I know it’s used in a lot of industry from cars to medical equipment but is is another wealth protection per say with vat or a potential growth area over time. Decisions decisions. 

There might be something here for you:

😎

[Gunnerwood]

9 hours ago, LawrenceChard said:

There might be something here for you:

😎

Very kind Lawrence, thank you. Will have a read and mull it over. Thank you. 

[Ukbullionfan]

With the premiums together with VAT on any precious metals I would have to say no. Having said that I do like Pt. But I don’t see it as an investment that will change your life for the better financially any time soon, even the long game I find it hard also.

[Expat]

The VAT issue in Europe is a shame, that would be a serious no-go for me. You all need to be more assertive about not wanting to pay taxes - in particular - to the British government. I recall that we wrote a pretty strongly worded letter to them about the subject back in 1776, and they've pretty much left us alone since then.     

But BTT, overall, I think Platinum is cheap, and most people only look at the industrial use in ICE (Diesel) catalytic converters. There are so many more applications in scientific instruments, health care, computer parts, etc. And that's not even thinking about future applications. Don't look at it necessarily like a store of value, it's more a gamble on GDP growth and the industrial sector of the worldwide economies performing well. And while (I think) it's 4 x as rare as gold, it trades at half the price ... I had to get some.

I purchased 30 oz in coins in June and July, and 4 oz in assay cards today. Spot at $869 plus 3% premium. I just couldn't say "no" to that, and now I have over one kg in the box.

Let's see how it reacts to the Fed's interest rate decision and GDP numbers this week...........

Edited July 26, 2022 by Expat

[Darr3nG]

11 hours ago, Expat said:

we wrote a pretty strongly worded letter to them about the subject back in 1776, and they've pretty much left us alone since then

   

I believe you also invited some folk round for tea, and it all kicked off!!!  

[Ukbullionfan]

Why is there VAT on silver platinum and palladium and not gold ? In fact why is there VAT on precious metals full stop ? I think it’s an absolute joke. When selling it back to dealers should add the VAT on too. If there wasn’t any VAT on precious metals I would be purchasing Elle from right centre.

[Expat]

11 hours ago, Darr3nG said:

   

I believe you also invited some folk round for tea, and it all kicked off!!!  

Yes, I've heard about a smashing costume party at some seaside resort a bit earlier with the same general theme. 😁

 

BTT, not a bad day for the precious metal hoarder today, especially platinum. I keep telling you guys to buy it...

Edited July 27, 2022 by Expat

[Silverlocks]

On 11/02/2022 at 11:35, ArgentSmith said:

https://www.railwaygazette.com/traction-and-rolling-stock/talgo-to-begin-fuel-cell-loco-trials/60890.article?ID=z9xqh~9fxqth~nnftjj~W4ik~Ky0gk&utm_campaign=RG-WEEKLY-Smarttransit-110222-JM&utm_medium=email&utm_source=newsletter&utm_content=RG-WEEKLY-Smarttransit-110222-JM

IMO fuel cells could become the global de facto standard for all road, rail and nautical freight. Makes perfect sense given the current green agenda. Batteries just won't cut the mustard.

I believe premiums are often less than bullion Silver

It's possible but storage and distribution of hydrogen are subject to some technical problems that haven't got solutions yet.  Demand for catalytic converters will go down as electric car tech matures.  E-cars are quite likely to take off as they're theoretically cheaper to manufacture and much cheaper to run than IC engines now the tech is gaining the critical mass in infrastructure.  The market really has to move away from Elon Musk and his insistence on charging rental for software features in the cars, though, but I think this will happen as batteries come down and more players get e-cars in at cheaper price points than Tesla.  I'd also put a few bob on this being the event that lets China into the global car market.

I think industrial catalysts are not as big a market as catalytic converters, as evidenced by the drop in platinum spot prices.  Battery tech is also at the 'good enough' point and supported by infrastructure now.  What we're waiting for there is for lithium production to ramp up (or maybe sodium battery tech to catch on) and the batteries themselves to come down to reasonable prices and large production volumes.  This is mostly a matter of time.

As a comparison, I bought an e-bike in Indonesia for the family (motorbikes are the preferred means of transport due to congestion and costs).  This weighs 68kg, cost about £400, and has a claimed range of 60km.  The charger is small enough to carry around with you.  We don't have space to put a car - quarter-acre sections aren't really a thing in most of Asia.

My feeling is that in the UK Platinum would be good if you had an offshore vault that didn't get clobbered for VAT.  Unfortunately I don't have enough at the moment to make vaulting cost effective, but we can all aspire, I suppose.  

 

 

Edited August 25, 2022 by Silverlocks

[Stuntman]

Platinum has ticked upwards significantly over the past week or so and is now trading at nearly £820 per oz.

I hope it keeps climbing...

[bluemoon]

Platinum would be good but for the VAT. Since it doesn't offer anything all that different as a store of wealth to gold or silver, I'm sticking to those on physical and if I can make money with the low price platinum via CFDs, then that's as much as I'll play with it.

[Shinus73]

Probably been said earlier in the thread, but platinum has one thing going for it that gold doesn’t - it’s £300 per oz cheaper than it was a decade ago. We know it can go a lot higher.

[Happypanda88]

I took me a long time to convince myself to buy my first ounce of Pt earlier in the month.

I have been toying with the idea of buying a Pt coin just to see what it is like but had ended up buying either a half ounce AU or a kilo Ag instead. There were two reasons why I have shyed away from Pt. One being it looks like silver and secondly it has never been a monetary metal.

But when the price of Pt dropped to half the price of AU, I decided it was a good time to buy one. It was a toss-up between getting a 1oz Britannia or 1oz Pamp Fortuna or 1oz Philharmonic. These had the lowest premium at around 10% (and no VAT where I am).  In the end, I opted for the Britannia b/c I like the design.

Now in hand, I can see and feel that it is indeed a denser metal. It looks like silver and feels different.  On the plus side, it won't tarnish nor milkspot anytime soon 😊 

The price of Pt has gone up by a 10% since I bought. If it comes back down again, I might get a couple more ounces. 

[StackemHigh]

Wealth protection or a wild gamble?

I got some for my collection so neither. Was looking at a couple of nobles but info i've found is fragmented so can't make a educated decision.

[Stuntman]

I still think Pt is a bit of a sleeping giant.  I'm happy to hold and wait.

[ArgentSmith]

18 hours ago, Stuntman said:

I still think Pt is a bit of a sleeping giant.  I'm happy to hold and wait.

The market is discounting heavily for all the PGMs in catalytic convertors out there and cautiously pricing future fuel cell loadings. Just a waiting game for patient money imo 

[KevinFlynn]

On 30/09/2022 at 18:32, StackemHigh said:

Wealth protection or a wild gamble?

...

As I see it, gold is better for wealth protection. And platinum is not any more a gamble than silver.

I think of it as a curiosity, as speculative as silver, but with more upward potential than silver.

Nobles are very nice coins - I posted some Nobles pictures around here about a year ago.

 

Edited October 1, 2022 by KevinFlynn