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My first Platinum purchase

Silver Art

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#1
I did something that I have not done in 10+ years of being in PM's and that is......................buy Platinum. Well, I did buy my first platinum piece today from a LCS. When I went to one of the LCS's, I was looking for, as usual, '70's silver art bars. This LCS did not have much silver and he had no gold. However, I did see a platinum bar. It was a 1-gram Pamp Platinum bar that was enclosed in an assay card with S/N. I was not planning to get it but, out of curiosity, I ask him how much that platinum bar was and he told me $26. I took the plunge and bought that 1-gram platinum bar. This purchase is my 1st platinum purchase. Here is what the bar looks like:
20181222_120745_rotated_resized.jpg
20181222_120733_rotated_resized.jpg


EDIT: Sorry for the bad image. I took this with my cell cam. It is a PAMP Horn of Plenty 1-gram Platinum bar that I paid $26 for (spot Platinum currently at $787/oz.)
 
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Silver Art

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#3
And you thought silver was a dog.
Just wait...

LOL!!!!! It must be a DOG if it less than gold on a per troy oz basis plus it looks like silver in appearance. Since I made my 1st Platinum purchase today, then Pt will just go down from here. You can thank me later.
 
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Mujahideen

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#4
Do you use veriscan? I’ve always stayed away from bars because I’ve been concerned about counterfeiting.
 

Silver Art

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#5
Do you use veriscan? I’ve always stayed away from bars because I’ve been concerned about counterfeiting.

I did not use veriscan on this yet. FWIW I see that is has veriscan on the assay card. I did register for the veriscan but that is as far as I went. I did hear of 1-oz PAMP gold bars being faked but I have not heard of PAMP 1-gram Pt bars being counterfeited. But then again I am new to Platinum so that does not mean anything coming from me.
 
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Silver Art

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#6
I looked at my Pamp Platinum bar and compared it to a 1-gram gold bar that I bought recently and I noticed that the 1-gram Pt bar is smaller than the 1-gram Au bar. I guess that has to do with the properties of Platinum being much different than the properties of gold.
 

Mujahideen

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#7
Pt is more dense.
 

Silver Art

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#9

Silver Art

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#10

Yep that makes sense to me. I did not think about that. I will admit that this platinum bar was an "impulse" purchase but at $26, what the heck? A "historic" purchase for me in the sense that this is my first platinum purchase.
 
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Silver Art

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#12
To be honest here, I do not plan to start buying Platinum hand over fist. This 1st Platinum purchase just happened to present itself to me in that there were no '70's silver art bars at this particular LCS that I was at. Will I buy another Platinum piece? Maybe. Whether I buy another Platinum piece or not mainly depends on what premium I can get on a particular Pt coin or bar. My "wheelhouse" will ALWAYS be '70's silver art bars. That will not change at all. Buying Pt was just myself going off the beaten path.
 

Silver Art

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#14
I looked at my Pamp Platinum bar and compared it to a 1-gram gold bar that I bought recently and I noticed that the 1-gram Pt bar is smaller than the 1-gram Au bar. I guess that has to do with the properties of Platinum being much different than the properties of gold.
A side-by-side bar size comparison of my 1-gram Platinum bar to a 1-gram Gold bar.......................

20181224_060543_rotated_cropped.jpg
 

Bottom Feeder

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#15
Well, Josey, there's a simple explanation here. Notice one bar (the gold one) is made in Australia. The platinum bar is made in Switzerland. Australia, being an island on the bottom of the world, the gravity is less there, requiring a physically larger bar than the platinum one made in Switzerland which is in the middle of the huge Europe/Asia land mass where the gravity is greater.

There, did that assuage your worries?

BF
 

Silver Art

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Well, Josey, there's a simple explanation here. Notice one bar (the gold one) is made in Australia. The platinum bar is made in Switzerland. Australia, being an island on the bottom of the world, the gravity is less there, requiring a physically larger bar than the platinum one made in Switzerland which is in the middle of the huge Europe/Asia land mass where the gravity is greater.

There, did that assuage your worries?

BF

LOL!!! I never had any worries but thanks for the explanation.

:2 thumbs up:

I also liked Mujahideen's explanation in post # 7 of this thread. Being that this is my 1st Platinum purchase, I did not know very much about Platinum. I'm always learning something.
 

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#17
I recently purchased 1 gram Valcambi chits of Pt and Pd for my element collection.
Decades ago I had a 10 toz Engelhard Pt bar, it was about the size of a 1/8” thick slice off the end of a 2x4. I couldn’t believe the weight/size ratio.

R.
 

Silver Art

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#18
I recently purchased 1 gram Valcambi chits of Pt and Pd for my element collection.
Decades ago I had a 10 toz Engelhard Pt bar, it was about the size of a 1/8” thick slice off the end of a 2x4. I couldn’t believe the weight/size ratio.

R.

Yeah I will admit that size of my Pt bar did take me by surprise when I first saw it at the LCS. To me, it looks slightly bigger than a 1-grain sized silver bar.
 

newmisty

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#19
My platinum story is rather embarassing, I bought a coin like this
1545768222795.png
way back in the day and done lost it on myself. Still hasn't turned up after two moves so suffice to say, it's GONE!
 

Silver Art

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#20
My platinum story is rather embarassing, I bought a coin like this View attachment 120074 way back in the day and done lost it on myself. Still hasn't turned up after two moves so suffice to say, it's GONE!
If I can find one of those at a LCS (or coin show) and can get it for a low premium over spot, then I will get one. Those are nice Pt coins IMO.
 

Silver Art

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#21
Hmmmmm........Platinum is currently at $792/oz. When I bought my 1st platinum bar, spot Pt was at $787/oz, I was expecting Pt to take a dive. Hmmm......maybe my magic does not work on Pt. Bummer................
 
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#22
Density of Pt is 21.45 g/cc vs 19.3 for Au. That doesn't account for the dramatic size difference, but perhaps the gold bar is much thinner? I had access to an XRF in the laboratory where I worked, but I'm transferring to another group now that doesn't have one. XRF is good at metallic composition, however if the piece is thickly plated with the genuine metal it could be fooled because the low energy X-rays don't penetrate very far.
 
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#23
Well, Josey, there's a simple explanation here. Notice one bar (the gold one) is made in Australia. The platinum bar is made in Switzerland. Australia, being an island on the bottom of the world, the gravity is less there, requiring a physically larger bar than the platinum one made in Switzerland which is in the middle of the huge Europe/Asia land mass where the gravity is greater.

There, did that assuage your worries?

BF
Here I figured it was because Australia is entirely peopled by criminals, so they had to make it bigger to deter theft