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 Replies: 17 / Views: 3,482 |
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Valued Member
United States
379 Posts |
*** Moved by Staff to a more appropriate forum. ***I am convinced that Martians control this metal. Checking Kitco, it is now at $3,000 spot per ounce... with a rise of $600 in just the last month. At one time it was $10,000 an ounce and the price dropped like a rock faster than you could call to sell it, if you had any, to about $1,000 and even less later. It was like the wall street crash but on a much much smaller scale, except for the people who bought it. I feel for the people that bought it on the way to it's highest price of 10k per ounce, say at $4-10k an ounce. Imagine their shock to get up in the am, log on and discover that their rhodium dropped by 90% (and by more later) basically overnight. It is weird, unpredictable stuff... mike https://www.kitco.com/charts/rhodium.htmlbtw, the 10k price was like in the 90's or something, you would have to check the VERY long ago price chart to see it.
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Valued Member
United States
337 Posts |
I have not encountered coins of rhodium, but have seen many plated coins. Unfortunately, this is often not done by a government mint, it is added later by a company. I do not believe many collect coins that were altered, and I have not bought any.
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Pillar of the Community
Canada
3692 Posts |
The only rhodium I've ever handled was in a black powder form for melting with platinum and in liquid form for plating nickel-white gold. I find it funny that people would want physical rhodium - to do what with it?
Rhodium is a very specialized industrial metal with few applications, but it's a rare metal. How would one stack it: in the yellow liquid that has cyanide in it, or in a black-grey powder that looks like soot? Your bullion would be in the wrong form for the people who need it. Rhodium has to be processed first by the companies who make products with it - these are your ready-made products like rhodium plating solution, or from refiners that give it to you as a raw powder ready to be melted. Those companies in that supply chain take their cuts.
Stick to gold and platinum? Why do I say that? Because in the bar form those metals are readily usable and recognizable as investment metals. (Silver, too, by the way.) Rhodium doesn't show up on the tickers on the news, but gold always does. Put rhodium and some random metal beside it and the common person could not tell you which is which.
The more removed from manufacturing a region/people get/s, the easier it becomes to debase their currency. (Working theory... :D)
Edited by Libertad
10/22/2019 09:40 am
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New Member
37 Posts |
Imagine the shock of those still holding silver they bought at 34,35,36,37,38,39,40, etc,etc,etc
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Pillar of the Community
United States
4333 Posts |
Quote:
Imagine the shock of those still holding silver they bought at 34,35,36,37,38,39,40, etc,etc,etc No shock here. Maybe a slight bit of remorse, but doesn't matter as I have no intention of selling. That's not why I've collected PM's. It's about trading away as many debt notes as possible, for an item of value.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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New Member
37 Posts |
? Doesn't make sense to trade for something that continued to decline in "value", and never give one their value back, that makes zero sense, no pun intended
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Pillar of the Community
United States
4333 Posts |
Quote:
? Doesn't make sense to trade for something that continued to decline in "value", and never give one their value back, that makes zero sense, no pun intended Sounds like you're talking about the dollar!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
6244 Posts |
As of today the Golden Eagle Coin website states they would pay $5,000 for my 1-ounce rhodium bar (made by Baird & Co.). I'm tempted, considering I bought it from Golden Eagle for $982 in 2015.
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New Member
37 Posts |
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Sounds like you're talking about the dollar Lol, I see you've been brainwashed
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Pillar of the Community
United States
4333 Posts |
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Lol, I see you've been brainwashed Yep, and I'm from Mars!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
171 Posts |
Dude, sell the rhodium bar, good gravy man!
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Pillar of the Community
Canada
3692 Posts |
Can anyone explain:
If banknotes represent debt,
then why is cash on the asset side of the balance sheet?
It's just swapping one asset for another. Just cash is more liquid than PM by default, unless you happen to trade silver bars with Jim Bob.
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New Member
37 Posts |
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Pillar of the Community
United States
6244 Posts |
Golden Eagle buy price for 1-ounce rhodium is now at $7,850.  |
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Bedrock of the Community
Australia
21593 Posts |
Avoid Rhodium like the plague just now.
If it is at or near the peak, it will surely come down, probably with a thud.
Today, I bought 6 x 1 ounce Platinum Maple Leafs, rather than gold. Cost me about U.S. $6,500.
I think the Pt / Gold ratio is way too low, and interest bearing deposit in the bank will lose money after tax and inflation.
Pt a refractory metal, and thus will survive a house fire - very high melting point.
$6,500 worth of silver way too bulky for me to store.
So I was left with only one choice..
No sales tax to pay on bullion sales, either way, in Australia.
I will give 3 Pt coins to each of my two children, but my daughter may cash her Pt back in, and pay off some of the mortgage, which, for her, is a better investment than any bullion.
No gift tax, I will simply give her the coins.
There is no tax on investment profits to pay, when paying your debts down faster.
Edited by sel_69l
01/24/2020 02:11 am
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Valued Member
 United States
379 Posts |
Rhodium was always a gamble. Being familiar with it, having bought and sold it, and knowing how it's history, I would be reluctant to buy it at today's prices. It dropped like a stone before and lost like 90% of its value in just 1 day, so I sold mine when it was $5,000 an oz., having bought it at $1,000 an oz. I figured 1 bird in the hand was worth 2 in the bush. Or I got cold feet. Or both.
Obviously I could have done better. But that is life.
Personally, I think that platinum is way undervalued and would not touch rhodium with a long stick today. Too many folks bought it on it's rise to 10K before, at today's prices or more and got stuck holding the bag when it dropped like a rock and did not have a chance to unload it.
I guess you just take your chances.
Rhodium.................. a gamble
Silver, gold, platinum... an insurance, with a potential of being an investment.
Edited by 4504
01/24/2020 11:56 am
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Replies: 17 / Views: 3,482 |
Posted 10/22/2019 08:59 am
