Rhodium

[TheWhiteStuff]

I would like to buy some rhodium bars.

The price looks very good considering it was $10,000 an oz not so long ago.

I don't think it will achieve this again but would still like some for the long haul.

One of the few mines that produces this stuff has recently announced they will cut output to reduce oversupply.

Have found a few UK sellers but I don't like paying VAT...

Any VAT free dealers in Europe for rhodium? 

Hear is the chart for anyone interested

 http://www.infomine.com/investment/metal-prices/rhodium/all/

Could be a good hedge against silver as its top ended when the economy slowed down.

[HelpingHands]

The story behind the price move concerns an employee at a car makers who bought too much and then it was later dumped back on to the market.

An ETF may be the way to go........maybe.

[garthy]

I bought a 1/4oz baird and co bar earlier this year, I did some research at the time and couldn't avoid paying VAT.

The spot price was around $560 at the time, we're now at $805 so not bad.

I'm hoping for another bull run as the rhodium market is tiny, only 30 tonnes pulled out of the ground on a yearly bases that's just over 1% of gold's production, 80% of that is mined in south Africa so the market is also very fragile.

I'd like to get myself some more in the future, looking at the historic chart you never know where the price may end up.

[TheWhiteStuff]

Thanks for the info.

I am not sure what it costs to produce this metal but i cant see it going much lower. Even if they stopped using it in cars etc.

If some smart company buys a load while its cheap and then starts marketing this stuff as a precious metal it could really take off in price.

Specially with its backstory. I think the problem is just most people have never heard of it.

 

[garthy]

Just seen pamp have just released a rhodium bar, maybe that's what's pushed the price up a little recently?

 

[Rich99]

21 hours ago, garthy said:

Just seen pamp have just released a rhodium bar, maybe that's what's pushed the price up a little recently?

 

Ooh, I want one

[TheWhiteStuff]

I think they are trialing that bar at one dealer. I suspect they will use the results to market it to other dealers. All before buying huge amounts of the metal of course.

I wish i had bought this while silver was high. Now silver is going lower i'm not sure whether to just spend it on that.

[Rich99]

Trouble with these metals is where do you trade them quickly?

Much harder to sell than gold/silver I would imagine

[Lindeman]

i have recently bought some more platinum and my first palladium coin, but I am going to stop at those metals. Can't quite convince myself on rhodium. They are essentially industrial metals, and while it's fun and scientifically interesting to cover more space on the Periodic Table - I don't see rhodium spiking again like it did before. So just a few ounces of Pt and Pa will do it for me.  I did see that there were a few rhodium coins from the US - but the 1 oz bars seem a better bet. Agree on the selling side - not exactly something to sell quickly or easily! 

[garthy]

Rhodium's on a nice run, currently up to $1015

[Pampfan]

One issue rhodium has had in the past was that it was very hard to get in a bar format.  The only makers were Bards of London with an ugly looking bar.  The majority of rhodium products were sold in a "sponge format".  Kitco was and still sells it in this format.  

Pamp Suisse about 6 months ago came out with a one ounce rhodium fortuna bar which is quite stunning.  I picked one up along with a palladium and platinum bar just to have one of each for the collection.

My point to all this is if pamp suisse is making this bar - then rhodium has entered the precious metals realm.

We will see what happens - (I paid $865 for my one ounce pamp - spot is around $1015, but the bar is currently selling in the $1,100 range - please realize that the pamp bar has a huge premium over spot) Not a bad return so far - but you will only know when you go to sell one what you can get for it.

 

[Vacendak]

As implied above y @Lindeman, even if buying it can become easier after Pamp having entered the market, the selling part may still look very dicey.

Maybe after the first rhodium Britannias show-up...

 

 

[shemyaza]

They're very quiet about Palladium (240 tonnes mined globally a year, Norilsk Nickel Corporation 40% of that) and Platinum (300 tonnes mined globally a year Anglo American Corporation FTSE ticker AAL a big chunk of that). I'm into both metals now and waiting for the US Mint Palladium Mercury Walking Liberty 1oz Bullion coin now. I see Gold and Silver dropping back and Platinum and Palladium taking over, noting that Platinum bars sit next to Gold bars in equal status in central bank vaults (See IMF declaration 2015) hence the raid on Diesel engines (Platinum catalytic convertors) to free up the shortages and Palladium (Petrol engine cats) rising in soak up demand and bringing the deliberately quiet PM channels their real gold, the two PM's they don't tell you about. Keep an eye out, watch AAL wasn't so long ago it was 400p! That's until Tesla makes Lithium a rarity.