Advice please - 1oz Platinum Coin

[lst65]

Hi - I’m considering diversifying and buying a 1 oz platinum coin (modern). What sort of price (excluding VAT) are they going for please? TIA

[James32]

Spot + 20% on coins seems to be the usual rate on secondary market, bars slightly cheaper. 

Check in with either @ArgentSmith or @Wileyfox as they could probably fix you up with something suitable 

[lst65]

18 minutes ago, James32 said:

Spot + 20% on coins seems to be the usual rate on secondary market, bars slightly cheaper. 

Check in with either @ArgentSmith or @Wileyfox as they could probably fix you up with something suitable 

Thanks as always James - appreciate that mate. And the positive feedback 🙏🙏

[Wileyfox]

Yes, using my trusty spreadsheet I'm pricing mine at £918 + post - £925 posted. This is around a 23% premium using spot at the top of the screen so a bit higher than the 20% benchmark. I would likely be able to go to a 20% premium at higher spot prices.

I've managed to get the lowest premiums on this forum by buying from a fixed price listing during a week that platinum was having a price spike. I had a vaulted Pt position at the time so I was able to sell some of that position to cover the cost of the coins.

Feel free to get in touch if interested - placing a wanted listing is also a good option.

[lst65]

28 minutes ago, Wileyfox said:

Yes, using my trusty spreadsheet I'm pricing mine at £918 + post - £925 posted. This is around a 23% premium using spot at the top of the screen so a bit higher than the 20% benchmark. I would likely be able to go to a 20% premium at higher spot prices.

I've managed to get the lowest premiums on this forum by buying from a fixed price listing during a week that platinum was having a price spike. I had a vaulted Pt position at the time so I was able to sell some of that position to cover the cost of the coins.

Feel free to get in touch if interested - placing a wanted listing is also a good option.

Thanks very much @Wileyfox - really appreciate that. Happy as I can be getting my head around gold but not platinum! 😂 I understand you may have something for sale? I’ll search posts. Thanks again. 🙏

[LawrenceChard]

16 minutes ago, lst65 said:

Hi - I’m considering diversifying and buying a 1 oz platinum coin (modern). What sort of price (excluding VAT) are they going for please? TIA

 

9 minutes ago, James32 said:

Spot + 20% on coins seems to be the usual rate on secondary market, bars slightly cheaper. 

Check in with either @ArgentSmith or @Wileyfox as they could probably fix you up with something suitable 

My quickest way to get an answer would be to Google "one ounce platinum coin prices" or similar.

Sure, you would need to sift through a raft of different web pages and offers.

It was superfluous to specify "modern", as there were never any ancient one ounce platinum coins, the first one being the 1983 Manx Noble, although earlier platinum coins were issued. If you wiah to know more, take a look at:

https://24carat.co.uk/frame.php?url=platinumcoins.html

and:

https://24carat.co.uk/frame.php?url=platinumbullioncoins.html

... although these pages are not as clear as they could be.

@James32 was about right, but possibly slightly optimistic when he mentioned 20% premium.

TSF shows spot platinum about £745, but I see it at about £729 here: 

https://www.chards.co.uk/platinum-price/ounce/gbp/today

Which seems more in line with other price feeds. It looks like the TSF price is out of date.

Add 20% to the above prices, and you get £875 or £894 respectively.

If you can get secondhand ounce platinum coins on TSF, this would be a good source, but I suspect you may have to pay slightly more.

Currently there are no secondhand ones showing on a well-known Blackpool dealer's website.

New 2022 Platinum Britannia 1 oz Bullion Coins are available

https://www.chards.co.uk/2022-platinum-britannia-one-ounce-bullion-coin/15941

Quantity	Premium %	Price Per Item (Exc. VAT)	Price Per Item (Inc. VAT)	Total (Inc. VAT)	Est UK Delivery
1	10	£801.74	£962.09	£962.09	£6.00

It is worth asking why you want ounce platinum bullion coins. Because of the VAT, you are almost certainly better of buying gold, as an investment. You may or may not have seen my advice page:

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

Of course, if you have too much gold, or get bored by its yellow colour, then diversifying into platinum is understandable, but more as collecting than investing.

I hope this helps.

😎

 

 

 

[lst65]

14 minutes ago, LawrenceChard said:

 

My quickest way to get an answer would be to Google "one ounce platinum coin prices" or similar.

Sure, you would need to sift through a raft of different web pages and offers.

It was superfluous to specify "modern", as there were never any ancient one ounce platinum coins, the first one being the 1983 Manx Noble, although earlier platinum coins were issued. If you wiah to know more, take a look at:

https://24carat.co.uk/frame.php?url=platinumcoins.html

and:

https://24carat.co.uk/frame.php?url=platinumbullioncoins.html

... although these pages are not as clear as they could be.

@James32 was about right, but possibly slightly optimistic when he mentioned 20% premium.

TSF shows spot platinum about £745, but I see it at about £729 here: 

https://www.chards.co.uk/platinum-price/ounce/gbp/today

Which seems more in line with other price feeds. It looks like the TSF price is out of date.

Add 20% to the above prices, and you get £875 or £894 respectively.

If you can get secondhand ounce platinum coins on TSF, this would be a good source, but I suspect you may have to pay slightly more.

Currently there are no secondhand ones showing on a well-known Blackpool dealer's website.

New 2022 Platinum Britannia 1 oz Bullion Coins are available

https://www.chards.co.uk/2022-platinum-britannia-one-ounce-bullion-coin/15941

Quantity	Premium %	Price Per Item (Exc. VAT)	Price Per Item (Inc. VAT)	Total (Inc. VAT)	Est UK Delivery
1	10	£801.74	£962.09	£962.09	£6.00

It is worth asking why you want ounce platinum bullion coins. Because of the VAT, you are almost certainly better of buying gold, as an investment. You may or may not have seen my advice page:

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

Of course, if you have too much gold, or get bored by its yellow colour, then diversifying into platinum is understandable, but more as collecting than investing.

I hope this helps.

😎

 

 

 

Lawrence, thanks for taking the time to provide such a comprehensive answer. Really appreciate it. How could I ever get bored with gold..?! 😂 And I certainly don’t have too much - I suspect that would be a nice problem to have. Indeed, I switched from silver to gold investment properly this year and steadily building. The reality is, a friend in the US has just purchased some platinum (ounce coins) and I was both intrigued and curious as to the investment opportunities. 
 

The outcome - I’ll stick with the yellow stuff..! 
 

Thanks again - hope you’re well. 

Edited September 3, 2022 by lst65
Mispell.

[Pete]

I was looking at the Royal Mint website a few days ago to purchase a Platinum Tudor Beast and they were asking for qty 1 at £802 plus VAT with free shipping. Then I checked BullionbyPost and their price was £808 plus VAT.
That indicates for new coins expect spot plus 10% approx.
I haven't generally found anyone selling platinum for less premium these days and the VAT on top kind of hurts.
 

[LawrenceChard]

10 minutes ago, Pete said:

I was looking at the Royal Mint website a few days ago to purchase a Platinum Tudor Beast and they were asking for qty 1 at £802 plus VAT with free shipping. Then I checked BullionbyPost and their price was £808 plus VAT.
That indicates for new coins expect spot plus 10% approx.
I haven't generally found anyone selling platinum for less premium these days and the VAT on top kind of hurts.
 

That means @ChardsCoinandBullionDealer aren't the cheapest on those at the moment:

Quantity	Premium %	Price Per Item (Exc. VAT)	Price Per Item (Inc. VAT)	Total (Inc. VAT)	Est UK Delivery
1	11.5	£812.67	£975.20	£975.20	£6.00
2	11.25	£810.85	£973.02	£1,946.04	£7.00
5	10.75	£807.20	£968.64	£4,843.20	£9.00
10+	9.5	£798.09	£957.71	£9,577.10	£12.00

 

But Britannias are lower:

Quantity	Premium %	Price Per Item (Exc. VAT)	Price Per Item (Inc. VAT)	Total (Inc. VAT)	Est UK Delivery
1	10	£801.74	£962.09	£962.09	£6.00

Even so, I think some of these prices / premiums might get tweaked down a touch in the next few days.

😎

[Pete]

On 03/09/2022 at 15:10, LawrenceChard said:

That means @ChardsCoinandBullionDealer aren't the cheapest on those at the moment:

Quantity	Premium %	Price Per Item (Exc. VAT)	Price Per Item (Inc. VAT)	Total (Inc. VAT)	Est UK Delivery
1	11.5	£812.67	£975.20	£975.20	£6.00
2	11.25	£810.85	£973.02	£1,946.04	£7.00
5	10.75	£807.20	£968.64	£4,843.20	£9.00
10+	9.5	£798.09	£957.71	£9,577.10	£12.00

 

But Britannias are lower:

Quantity	Premium %	Price Per Item (Exc. VAT)	Price Per Item (Inc. VAT)	Total (Inc. VAT)	Est UK Delivery
1	10	£801.74	£962.09	£962.09	£6.00

Even so, I think some of these prices / premiums might get tweaked down a touch in the next few days.

😎

I am definitely looking for 1 oz gold AND 1 oz Platinum Tudor Beasts Yale of Beaufort and will gladly part with my cash to the supplier offering the best deals. Anxiously waiting on Atkinsons prices in the next day or so for the gold coin. Silver - I am hoping to see a price for the 2 oz silver soon from Martin who tends to beat the pack these days and not sure if he will have any 10 oz silver otherwise it's to the RM as I am building the sets.

[LawrenceChard]

31 minutes ago, Pete said:

I am definitely looking for 1 oz gold AND 1 oz Platinum Tudor Beasts Yale of Beaufort and will gladly part with my cash to the supplier offering the best deals. Anxiously waiting on Atkinsons prices in the next day or so for the gold coin. Silver - I am hoping to see a price for the 2 oz silver soon from Martin who tends to beat the pack these days and not sure if he will have any 10 oz silver otherwise it's to the RM as I am building the sets.

It might be worth you adding those to a wishlist on our site. (Don't ask me how to do it!).

I don't know the release schedules, or what we will be buying, so you may be able to find out better direct.

Otherwise @ChardsCoinandBullionDealer might be able to help.

I hope this helps a little.

😎