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While investing in the stock market can net long-term profits, it is always wise to diversify your portfolio. One of the ways you can accomplish that feat includes investing in precious metals such as scrap platinum.
We understand that many investors do not comprehend the ins and outs of metal investment. As such, we are here to explain how much your scrap platinum is worth and help you determine the best investment avenues for your portfolio.
The Oxford Gold Group specializes in giving everyone the ability to invest in precious metals. We create investment strategies that help investors reap the benefits of scrap metal ownership.
Our team of experts has decades of experience working with precious metal investment. We will gladly answer any of your questions about investing in gold or platinum.
Guide to Platinum Investment
Many investors show interest in platinum investment because platinum prices continue to increase each year. This results in a principal motivation behind investing in precious metals. People want to hedge their bets against the devaluation of the dollar.
Since the stock market fluctuates frequently, many consider investing in other currencies a wise option. That is why alternate currencies such as Bitcoin are exploding in popularity.
However, gold and platinum may be steadier options for diversifying your portfolio.
One of the attractive things about platinum stems from its availability in many different forms. You can opt for physical platinum bullion, shaped like coins or bars. Alternatively, you can invest in paper platinum, such as EFTs and certificates.
If you choose paper platinum, you will never see your metal in person. Instead, you will receive a certified note saying the bank holds your platinum for you.
How To Determine Scrap Platinum Price
Platinum spot price stands for the amount that platinum currently sells for. Think of platinum spot price as another term for market price.
The market determines the cost of precious metals by the troy ounce. Many societal, economic, and political factors impact the price of platinum.
A platinum merchant will refer to its spot price when negotiating a deal. When in the market for precious metals, you will notice that the price fluctuates often. These fluctuations allow buyers to invest on the most recent terms possible.
Consider some popular questions we receive about spot prices for platinum.
Does Platinum Trade in Other Currencies?
Like many other commodities, the market lists platinum prices in U.S. dollars. However, you may convert this price to any currency by using one of the many online currency conversion calculators.
What Do Bid and Ask Prices Mean?
An asking price refers to what sellers want to get in exchange for their platinum. Alternatively, a bid price equals what buyers will pay to obtain these precious metals. The smaller the bid-ask spread, the less time it takes to buy or sell platinum.
Is It Hard To Buy Platinum at Its Spot Price?
Typically, you will never be able to buy platinum at its spot price. Sellers place a premium on their platinum sales. A premium ensures that sellers net a profit when selling their precious metals. As the stock market slogan goes, you want to buy low and sell high.
Platinum Futures
A platinum futures contract refers to a long-term agreement for a buyer to purchase scrap platinum at a set date in the future.
However, most of these agreements do not come to fruition, as cash settlements and closures are commonplace. Typically, you can find platinum futures selling on the NYMEX.
One of the reasons why investing in platinum features is rare relates to the fees associated with taking platinum delivery. Plus, you can only take delivery from approved products.
More Platinum Price Information
What Is the Face Value of Platinum Coins?
While some platinum coins have a face value, the market value of a platinum melt depends on how much platinum the coin consists of.
Can I Get a Better Deal From a Local Dealer?
We recommend avoiding brick and mortar precious metal stores when possible. Online retailers have more wiggle room and can help you save a lot of money on platinum transactions.
These online outlets also have low overhead costs. These low costs mean you will encounter fewer sizable premiums for buyers.
How Do I Gauge Which Price To Buy Platinum?
Dealers have different protocols when parting ways with precious metals. Typically, a brick-and-mortar sales professional will fluctuate prices throughout the day according to the platinum spot price.
When you shop online for platinum, retailers will adjust the price in real-time, allowing you to lock in prices at market value. Usually, you will add items to your cart, and the price will not lock until your payment processes.
Should I Pay for Platinum With a Credit Card?
We recommend against paying for platinum with a credit card. When a merchant receives a credit card payment, they must pay the 4% merchant processing fee. Therefore, they must charge a higher rate to net a profit.
How Do Platinum Dealers Make Money?
Platinum dealers often take an upfront loss when they buy scrap platinum. Typically, they will buy large quantities of platinum at a time. However, they wait until the platinum’s market price is high until they sell, increasing the chances of a profit.
Will I Make Money With Platinum?
As with the stock market, no investment can provide a guaranteed profit. Prices fluctuate all the time. However, market data shows that gold and platinum prices remain more consistent than corporate shares. Aim to buy platinum at a low value for the best chance of turning a profit.
What Should Be My First Platinum Investment?
Typically, we recommend making your first platinum investment as safe as possible. The safest platinum purchase you can make lies in buying minted platinum bars and rounds. Buying more than one ounce gives you your best chance to make a profit. Plus, buying in bulk can net you savings of up to 30%.
Scrap Platinum Price Trends
When investing, consumers should always look at the long-term payoff of their investment. Currently, the numbers indicate an upward trend in the price of platinum.
However, the trend is bound to change sometime in the future. Therefore, we advise that consumers conduct thorough research on platinum pricing to gain an objective perspective. Ultimately, investing in platinum is your decision to make.
Many investors question whether platinum’s price fluctuations correlate with gold and silver. While no statistic proves that theory, we find that platinum exhibits similar market movement.
Many factors impact platinum’s price, such as mining methods, consumer demand, and more. Often, platinum scraps have a higher premium than other precious metals.
When it comes to long-term stability, the market constantly changes. Therefore, it is hard to predict. Precious metals are no exception. One thing to note: buying physical platinum scrap comes with less risk than an electronic transfer fund or paper platinum.
Why Oxford Gold Group
Now that you know more about scrap platinum, you need an expert to help you put a precious metal investment strategy into action. The financial strategists at Oxford Gold Group carry with them a legacy that dates back decades.
We help investors increase their portfolio’s security with expert precious metal investment plans. One of our specialties includes our ability to transfer your 401(K) or IRA account into gold, platinum scrap, or other precious metals.
We also know how to get you the best deal when buying these metals. We profit off your decisions, which means we have an incentive to provide the best advice we can.
You will have no worries about our team trying to squeeze every penny from you. Unlike many other investment institutions, we want what is best for you.
We take the time to understand what you want to get out of your precious metal investment. Using this information, we can guide you down the path of success.
Whether this is your first foray into a platinum investment or you want to add to your portfolio, our investment experts can help you on your path to financial diversification.
Our reputation speaks for itself. Each year, we help thousands of investors with sage investment advice. To get an idea of the quality of service we provide to our clients, check out our Customer Reviews Page.
Start an Investment Plan Today
The Oxford Gold Group is happy to help you start a precious metal investment plan. We help thousands of investors make money from scrap metal each year.
The market data shows that precious metal investing is growing at a rapid rate. We work with clientele in every income range to capitalize on this opportunity. No matter how much wealth you have, we can help you set yourself up for a healthy investment future.
If you want to calculate your ideal scrap platinum price, call The Oxford Gold Group at (833) 600-GOLD. One of our trusted customer service reps in our Beverly Hills, CA, office will be in touch to set up a consultation with an expert investment strategist.
