Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Step1 who wrote (26002)	12/11/2002 6:36:33 AM
From: TobagoJack	Read Replies (2) of 74559

Hello Step1, I am in a Chinese hotel in the middle of nowhere, and in each room there is an always-on broadband connected PC. <<What about physical Pt, without the premium for workmanship in the watch?>> Message 18284479 "Physical & paper metals 7.9% (>75% gold vs. platinum)" I do have physical platinum bought during the era of approx. USD 350/oz, in the form of Koala bullion coins, now accounting actually only for 0.6% of gross assets. Once upon a time banks in HK traded them at small premium (2-3%) to spot price. When platinum went through USD 450/oz, the banks ceased trading them and now will only buy but not sell them. The American Eagle platinum coins trades at large (10+%) premium to spot when available and requires delivery from far away sight unseen (someone on this thread once astutely observed that the premium is a function of option-related volatility on underlying platinum price as opposed to dealer markup). I have never considered paper platinum from the likes of Kitco, given their Internet-only presence. The watches constitute a frivolous hobby and count as consumption, even though they may prove to be tremendous capital gainers after eons. Chugs, Jay

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