With the price of Platinum down so much versus Gold, I feel compelled to add a few more of these to the stack over Gold this year. This was my first BU Platinum addition to the stack in a long time. And frankly, they are just drop dead sexy to hold.
The price of Platinum traditionally has always held a premium to Gold and is bound to retrace back at some point in the future. The last 46 years has been no exception and we are currently at extreme lows.
My goal is to continue to add Platinum to the stack and convert it back to Gold or Silver at a later date. Likely at a ratio of 1.5-2.0x. But with Platinum trading a near 50% discount to gold, its pretty much a no-brainer to add a bit now to the stack. Buying when assets are unloved has served me well over the years.
I'm also continuing to pick up pre-1933 Gold pieces that I can fetch close to spot as they will eventually carry a premium to spot as well. Right now, the precious metals are so unloved that there are just bargains everywhere. I got this 1911 $10 Gold Indian yesterday for about 3% over spot. I have an unhealthy obsession with them.
I am Lord @matthewwarn and I have Stackitis...but there are worse problems to have in life. Like buying high and selling low.
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With Platinum being at the lowest ratio EVER, it makes it quite a nice addition. Finding the premiums a bit high as compared to gold. Also considering the a majority of Platinum is mined in politically destabilized South Africa, and Russia, the metal could explode, given the right combination of news events. That US Liberty is a fine lady.
All part of the calculus...same as Rhodium which I've written about before. I think due to extremely short supply, Rhodium could also go bonkers. I bought a few of them 2 years ago below $1,000 for similar reasons.
Nice reminder, a quick read states, The world’s largest producing mine is located in South Africa where, annually, they produce 20 tons of rhodium or 80% of the world’s annual supply." SA again controlling the rarest of PM.
Pro moves Lord M!
...i do concur with your evaluation 😜 R!
Boom!
...shocka-locka!
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I like this coin i like this awesome post.