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Bought 1 oz American Platinum Eagles @ 1,083.74 each today. Minor investment. Intend to hold many years. This is my second foray into physical precious metals. The last time was 2004. Bought gold and silver. Intended to hold long-term, but sold in 2006 as they started to go parabolic. No complaints. Was a short profitable ride.
They say that past performance is not necessarily indicative of future returns. I hope that's true of platinum. Those who bought platinum 15 years ago are not only still underwater but have clearly not kept up with inflation. I'm speculating that I do better. And if not, at least I'll have a small collection of premium paperweights to serve as reminders of my bottom-fishing folly.
This is neither investing nor speculating advice.
Comments on February House Prices, FHFA: House Prices Up 7.0% YoY
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Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller:
National House Price Index Up 6.4% year-over-year in February; FHFA: House
Prices Incre...
3 hours ago
5 comments:
Platinum has the advantages and disadvantages of being an industrial metal rather than a investment metal. Like silver, there is a bedrock of industrial demand that puts a floor under the price. Unlike gold and silver, platinum is less prone to fear-based buying and selling, so there are not the opportunities to ride the price to the moon or short the price to the basement.
Platinum has the advantages and disadvantages of being an industrial metal rather than a investment metal.
The investment part could change in the future, at least to some extent. There are now funds that hold physical platinum to make it easier for people to invest.
PLTM holds physical platinum. Its inception date was in January of 2018. Fees run 0.5% per year, which aren’t that bad. Thought about buying it instead. So far, it’s been a nothingburger. Hasn’t done anything for investors but a small loss. If somebody someday says platinum on the right forum, who knows what might happen. Momentum could throw me a bone. The fund is too small for downward momentum to hurt me much, but the fund could certainly grow bigger with upward momentum.
Not counting on any of that, of course. It’s just a possibility. Your summary matches my own.
One more floor exists, although I cannot conceive of it ever being hit. It is legal tender with a $100 price. I therefore cannot lose more than 90.8% of my original investment. Can you imagine me ever using it to buy groceries though? I sure can’t! *gasp*
Blue horseshoe likes platinum, eh?
On Wall Street, two newborn baby twins just arrested. They were inside her, trading.
Man is getting a haircut. Robot walks in. Barber says, “Robots are so dumb. Watch this.” Barber puts $100 in his left hand and a 1oz platinum eagle in the other. Says, “Hey Robot! Which one do you want?” Robot points to the left hand. Barber gives it $100. The man is amazed! Walks over to the robot and whispers, “Why did you choose the $100?” Robot whispers back, “The barber does this everyday. If I ever pick the coin, I think he’ll stop.”
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