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1oz Platinum bar price?


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A general rule of thumb for platinum coins is spot plus 20% ( anything under that is a good price)

Bars especially uncarded will attract less unfortunately. 

I'd imagine £950-£970 might be an OK price, no guarantee though as britannias recently struggled at spot + 14% on here.

@ArgentSmith might have a better idea?

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17 minutes ago, James32 said:

A general rule of thumb for platinum coins is spot plus 20% ( anything under that is a good price)

Bars especially uncarded will attract less unfortunately. 

I'd imagine £950-£970 might be an OK price, no guarantee though as britannias recently struggled at spot + 14% on here.

@ArgentSmith might have a better idea?

To put OPs premium into perspective if buying in bulk and taking delivery of one Comex contract of 50 oz you would be looking at £50310 inc VAT plus handling >£1006 toz 

With that in mind £1050 is a very fair retail price for 1oz bar, however the market is pretty thin and it would certainly struggle on here. eBay would be a better option if you wait for reduced sellers fees. Dealers will probably offer 95-97% spot.

I don't think it would last long on eBay at £1050 if listed correctly.

Listen to All Follow None.

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Platinum prices are an unpredictable thing not necessarily following a trend.
Not so long ago the average premium over spot was around 20% but even the Royal Mint is quoting some one ounce Pt at around 11% over spot.
When platinum spot drops it seems as if premiums rise and vice versa.
Then there is the dreaded 20% VAT which you cannot avoid paying from dealers and the Royal Mint.
Personally I think £1,050 for this bar is likely to be a tad too high but test the market.
eBay has been offering sellers once again their £1 max selling fees so that would be worth considering, but you might have to list at a much lower price to attract interest and then run the risk of not selling at close to your target price.
Many people are holding on to their cash because of inflation etc. and those who can still afford to stack are looking for bargains and I don't believe £1,050 is a bargain. Others may disagree of course.
 

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3 hours ago, silvernewbie said:

Hi

i have a 1oz plat bar to list here and wondering what the current market price is?  I havent been watching pm prices for a long time so unsure if its worth the £1050 id hope?

thanks

D58E1BAA-3376-4B89-823F-C2515068D5C4.jpeg

Does this help?

https://www.chards.co.uk/valcambi-platinum-one-ounce-bars-pre-owned/15334

😎

Chards

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It would appear that Pt coins and bars are not in high demand at the moment.

The less interesting pieces (generic bars) do seem to hang around at my local dealer's website. 

Edited by Happypanda88
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7 hours ago, StackemHigh said:

I'm picking up 1oz and 4x 1/4oz Nobles for around the £900 to £950 price range. My last 1/4 was £220 all inc.

That's a great price, where are you getting them?

Listen to All Follow None.

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9 hours ago, Happypanda88 said:

No, it's not in stock. This is unless it sold out in the last hour. 😎

I know it is not in stock, but the OP was asking about prices, not where he could buy one.

I could have given you a link to:

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

We do have these in stock, but premiums are generally higher on coins, which are slightly more expensive to make, and only the British Royal Mint can strike UK coins. Anyone can make platinum bars. Coins are also generally more desirable, and are easier to sell. 

These are also "new" coins, not secondary market ones which would normally be cheaper.

There are 58 listings on the site for platinum coins or bars. Some are in stock, some are sold out. We leave these live for information and other reasons.

I suspect that if I had sent the coin link, you would have said "but that's a coin, I was asking about a bar"!

😎

Edited by LawrenceChard

Chards

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3 hours ago, ArgentSmith said:

That's a great price, where are you getting them?

Normally from auction like the last one, but also house clearances, people i know with swaps. I got 1oz + 1/2oz for a semi-numi collectable 1/2oz gold coin worth about £820 ish because i had two and could let it go and that is what was offered in return.

I've seen about £50,000 worth at spot of coins at auction in the last couple of months selling at or just below spot -5%

People i know just want to ditch (very happy to do so) Pt and want just Au. 

I'm seeing a large swing away from Ag and Pt from people i know.

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4 hours ago, StackemHigh said:

Normally from auction like the last one, but also house clearances, people i know with swaps. I got 1oz + 1/2oz for a semi-numi collectable 1/2oz gold coin worth about £820 ish because i had two and could let it go and that is what was offered in return.

I've seen about £50,000 worth at spot of coins at auction in the last couple of months selling at or just below spot -5%

People i know just want to ditch (very happy to do so) Pt and want just Au. 

I'm seeing a large swing away from Ag and Pt from people i know.

Whoever is selling at that price is insane, why not take to a dealer?

scrap merchant?

Listen to All Follow None.

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4 hours ago, StackemHigh said:

Normally from auction like the last one, but also house clearances, people i know with swaps. I got 1oz + 1/2oz for a semi-numi collectable 1/2oz gold coin worth about £820 ish because i had two and could let it go and that is what was offered in return.

I've seen about £50,000 worth at spot of coins at auction in the last couple of months selling at or just below spot -5%

People i know just want to ditch (very happy to do so) Pt and want just Au. 

I'm seeing a large swing away from Ag and Pt from people i know.

"I've seen about £50,000 worth at spot of coins at auction in the last couple of months selling at or just below spot -5%"

Plus buyer's premium?

If so, how much?

I can't understand people beign so stupid at to sell bullion times by auction.

I guess they have too much money, so don't care, or...

They are dealing with other people's money, so don't care, possibly solicitors, liquidators, or executors.

We would buy platinum bullion coins and bars at spot, all day long*.

£50K worth? sure, just bring them along.

£500K worth? sure, just bring them along.

* Assuming they qualify for "special scheme".

😎

Chards

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1 minute ago, LawrenceChard said:

"I've seen about £50,000 worth at spot of coins at auction in the last couple of months selling at or just below spot -5%"

Plus buyer's premium?

If so, how much?

I can't understand people beign so stupid at to sell bullion times by auction.

I guess they have too much money, so don't care, or...

They are dealing with other people's money, so don't care, possibly solicitors, liquidators, or executors.

We would buy platinum bullion coins and bars at spot, all day long*.

£50K worth? sure, just bring them along.

£500K worth? sure, just bring them along.

* Assuming they qualify for "special scheme".

😎

Its astonishing if true isn't it Lawrence 😁

Listen to All Follow None.

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Just now, LawrenceChard said:

It is indeed, and it probably is true.

I have noted Krugerrands and bullion sovereigns in auctions plenty of times.

😎

I did once pay 20% below spot for a Rhodium bar and walked it into a dealers so maybe true but Id like to see the auction results myself and would also like to take the opportunity to outbid Chards @spot plus 1% 😂

Listen to All Follow None.

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Even allowing for what are now very high auction fees there are still bargains to be had. Unfortunately for anyone who works, rather than leave a bid it is best to be able to bid live. Although, I did leave bids on two half sovereigns, thinking, if I don’t get one, I may get the other. Surprised, I actually got both. Both well cheap!

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15 minutes ago, ArgentSmith said:

I did once pay 20% below spot for a Rhodium bar and walked it into a dealers so maybe true but Id like to see the auction results myself and would also like to take the opportunity to outbid Chards @spot plus 1% 😂

About 20 years ago, we did buy 50 x one ounce platinum coins, at below spot. At that time, there were fewer UK bullion investors, stackers, or collectors.

It took us longer than I wanted to sell them, and we were asking as little as about 1% over spot at the time.

Bullion platinum spot was probably higher than gold at the time.

😎

Chards

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4 minutes ago, silvernewbie said:

Thanks guys will test the water on here, usually get more on ebay so will keep as an option not in a rush to sell.  Managed to get this at spot from abroad many yrs back and still bullish on platinum long term but got a taste for luxury watches so gota free funds

You were originally hoping for £1050 but after reading bullish advice now happy to settle for £1080... love it 🤗

Listen to All Follow None.

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1 hour ago, LawrenceChard said:

My guess is 15%

😎

I would have guessed just a few%... according to wikipedia it was originally 10%, prior to joining the EU purchase tax between 1943 and 1946 was 100%💥... sounds like great fun 😮

 

Quote

 

Between October 1940 and March 1973 the UK had a consumption tax called Purchase Tax, which was levied at different rates depending on goods' luxuriousness.[4] Purchase Tax was applied to the wholesale price, introduced during World War II, initially at a rate of 3313%. This was doubled in April 1942 to 6623%, and further increased in April 1943 to a rate of 100%, before reverting in April 1946 to 3313% again. Unlike VAT, Purchase Tax was applied at the point of manufacture and distribution, not at the point of sale. The rates of Purchase Tax at the start of 1973, when it gave way to VAT, were 13, 22, 36 and 55%.[clarification needed][6]

On 1 January 1973 the UK joined the European Economic Community and as a consequence Purchase Tax was replaced by Value Added Tax on 1 April 1973.[4][7][8] The Conservative Chancellor Lord Barber set a single VAT rate (10%) on most goods and services.[4][7][8]

In July 1974, Labour Chancellor Denis Healey reduced the standard rate of VAT from 10% to 8% but introduced a new higher rate of 12.5% for petrol and some luxury goods.[4][7][9] In November 1974, Healey doubled the higher rate of VAT to 25%.[7] Healey reduced the higher rate back to 12.5% in April 1976.[7][9][10]

 

 

Listen to All Follow None.

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