Often taking a back seat to gold and silver, platinum is a precious metal with just as many qualities to appreciate. In fact, it’s rarer than its more popular counterparts, and in some circles, it’s considered the most valuable of the precious metals. If you’re just getting started with plans to buy platinum, you may be wondering how to go about doing this. Below are some possible ways to purchase platinum, brought to you by the experts from First National Bullion. San Diego precious metals collectors know they can rely on us for high-quality service and unmatched reliability.
This is, for many people today, the most convenient way to buy platinum. There are some reputable online sellers, so you’re not necessarily taking any significant risks if you opt to buy platinum bars or coins—the most common solid forms of platinum other than jewelry—online. But before going forward with a purchase from an online seller, it’s recommended that you look for:
• Products listed from recognized manufacturers and refiners
• Proof of authenticity or value
- Reviews posted online by previous customers
Online Auction Sites
Platinum can also be purchased from auction sites you can access online. Again, whether or not you can make reliable purchases this way will depend on how reputable the seller and the site are. At a minimum, check to see what kind of protections the auction site offers (e.g., refunds if products delivered aren’t as described). The potential drawback here is that with auction sites, unless you limit your searches to “buy now” options, you’ll be competing with other buyers, which could result in a significant markup.
Precious Metals Firms
A more reliable way to buy platinum is from a precious metals firm. Again, look for a firm that’s reputable, and you should be able to make a more confident purchase. Precious metals firms also tend to offer reasonable pricing, often based on current market value plus a fair markup. Precious metals firms also typically provide documentation that shows the value, percentage of pure platinum, and other important details.
Not all coin dealers carry platinum coins, but some do. You may be able to find some decent and affordable platinum coins this way if you’re just looking to buy a few pieces here and there. However, realize you’re often at the mercy of what the dealer wishes to charge, and there’s often not much room for negotiation.
Platinum Exchange-Traded Funds
Platinum can also be purchased as a platinum exchange-traded fund, or ETF. If you do this through a grantor trust, the fund will hold the physical platinum for you. The investment professional managing the fund will then buy, store, and sell the bullion according to your directions. You can also purchase platinum as an exchange-traded note, or ETN. With this option, the price of the platinum is based on its market price, but it’s not held in physical form.
Friends or Family Members
One other way to buy platinum is to make purchases directly from friends or family members. Whether or not this is wise will depend on several factors, such as the form of platinum involved and how comfortable you are making this type of purchase from the individuals doing the selling.
If you’re building an investment portfolio and looking for the best place to purchase San Diego gold and bullion as well as platinum and other forms of precious metals, reach out to the trustworthy professionals at First National Bullion. We can answer all your questions and help you find all the information you need on how precious metals can be great investments. Give one of our experienced dealers a call today at 858-666-6570.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.