Completed a Precious Collection!

in #platinum5 years ago (edited)

Platinum Happiness.png

One of the ways I had started my precious metals Collection was buying coins directly from the United States Mint. Although I know there are better and effective ways to do so, starting to invest in a relatively new asset class for me always takes small steps to under and learn ways to scale into a portfolio.

During the second year that I had starting investing into metals and coins, I got particularly interested in Platinum as a metal. I had always seen it be more valuable than Gold yet it had started to trade below the price of Gold consistently. I did some homework and saw that although it is still scarce relative to Gold, the demand for Gold is much more consistent and outweighs the industrial demand for Platinum which has made the trend persist to this day. However, I have always thought that metals like Platinum which have an industrial application as well as a store of value one can ultimately hold value in any economic situation in the long term.

My opportunity to add Platinum to the portfolio came later that year as the United States Mint launch a new Series of coins titled "Preamble to the Declaration of Independence." It would be a three year Series with each year a brand new design release to be issued on a one ounce coin of Platinum. They would be themed around the concept of the Declaration of Independence and the infamous words of Life, Liberty, and the Pursuit of Happiness.

Platinum 2.png

The latest and final addition to the Series was released this month. "Pursuit of Happiness" will also be limited to only 13,000 so it could become a Collector's Item in the future which is probably why the premium over the value of an ounce of Platinum is so high. I debated a couple of days on whether to buy or not but the reality is that having 2 out of 3 did not make sense so I have made the order. I feel that it will pay off in the long term as the price of most metals continue to feel underpriced for me with the potential economic issues that can arise in the coming years.

I have been excited to continue adding to my Collection of precious metals over time but have now started to see opportunities to improve it. With this latest purchase, Platinum makes up my biggest allocation of all the portfolio. While it is my favorite metal, I think that I am underweight in others like Gold and particularly Silver. In fact, I may consider going shopping in the coming weeks to balance out the portfolio given that the opportunity to do at attractive prices is probably now. I know we have a passionate community here so please feel free to give me any ideas on where to look!

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I did look at buying platinum when I bought some gold and silver coins last year, but the UK mint doesn't do platinum coins and the thought of the tax on a bar, no thanks!

Thinking the same way you do, Platinum probably is a better long term investment than gold.

It feels kind of odd literally having a safe full of literal coins, and the ledger of course.

Still want to add to my Silver given the price and its accessibility. Hopefully, I can get my hands on some soon!

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