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How To Sell Platinum When The Time Comes! Let Me Share With You My Experience In SELLING Platinum!

what is going on everyone platinum beast

coming at you with yet another video

today

i'm gonna be talking about

where you're gonna go when it's time to

tell

platinum so

let's get into it

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okay everyone so today we're going to be

talking about

where are you going to go when

the time comes to sell your platinum

now i know everyone talks about

never selling stacking holding

but today i want to talk about what your

options are available

when it comes time to sell and before i

get started in that

i want to give a quick shout out to my

buddy cash

coins over there on his youtube channel

he has a great channel if you haven't

checked him out yet

definitely definitely definitely

definitely definitely go check him out

because he has a great channel with a

lot of information

that i think you guys might like and

enjoy

so yeah he is the one who kind of

suggested i make a video about this

because he actually made a video talking

about

where to go to sell your gold and silver

so i'm going to make a video

talking about where to sell your

platinum and i'm going to give him a

shout out so make sure to check him out

i'll leave his

channel in the description below

but let's get into this video and let's

get into this discussion today

so today we're going to be talking about

platinum where you're going to go to

sell your platinum

when the time comes how you're going to

go about it how i've gone about it

my experiences the whole nine yards so

to answer the first question you might

have is have i ever sold platinum

yes i have i have only ever sold

to private individuals though i've never

sold to my lcs i've never sold to a

dealer

i do not know what that process

is but i have spoken with my lcs

and i have seen that the dealers online

do purchase platinum if you are looking

to sell it

and you just need the money so there are

many different routes you can take when

selling your platinum

but in my experience selling private

individuals is going to be your best bet

now there is a thing with platinum

that's different from gold and silver

in a normal market gold and silver is

already sold

a lot of times close to spot now right

now is not a normal market do not

compare it to right now

because that is not a normal market it's

completely different

in the normal market it sold close to

spot generics are so close to spot

government bullion is a typical dollar

or two over spot

and you can find those deals fairly

easily

now platinum always has a premium tied

to it

the reason for that i've talked about in

previous videos but is because

the mints have a harder time working

with this metal because it is so

extremely

tough that its melting point is much

higher and requires a lot more work

to mint it into a bullion coin

so the dealers get charged more by the

mint when they buy it from the mint

and they pass that charge onto you the

consumer

or the purchaser or whatever so

when it comes time to sell you will get

a lot of that premium back out that is

what i have experienced in my own

experience

is when i have sold platinum number one

it's only ever been fractionals i've

never sold an ounce coin

but fractionals i

look at what the going price is on the

dealer's websites and it usually has a

hefty premium

i look at what it's going for i lower my

price

a little bit down to incentivize someone

to buy from me

rather than an online dealer

and so

i usually am able to recoup a lot of the

premium that i spent on the coin

i also do not sell for a loss so because

of that

i'm only going to sell for either break

even if i need it or

profit if i'm looking to flip into a

one ounce or what have you

so private sales are the best route to

take

when selling your platinum there are

many different people

willing to buy platinum for just a

little bit less than the dealer's cost

because a lot of people want to get into

this metal but the thing that's holding

them back

is the premiums they're like ah the

premiums on platinum are so much higher

than gold and silver i don't want to pay

for that i'd rather get a lot of gold

and silver

and i get more metal from my money and i

understand that

i fully get it and that's kind of where

i was in the beginning i was scouring

for deals on platinum couldn't find it

anywhere kind of came to the realization

that the premium is going to stay

on platinum now the premiums being

charged right now across the board on

all the metals

a little unreasonable in my opinion i

understand there's reasons

for that and whatnot but platinum's

always had a high premium

and so that's why i didn't in the

beginning of my stacking journey

focus too much on platinum i found

someone

in fact i found someone who sold me

platinum

at spot fractionals originally it was a

5 gram bar

and

a quarter ounce eagle

and the palladium ballerina that i have

i got it spot as well

but regardless selling your platinum is

not hard to do

all you have to do is list it on one of

the either

online social media platforms like

instagram facebook

reddit or one of the face-to-face

kind of e-commerce kind of in-person

transaction websites like let go

offer up craigslist all kinds of

different places you can sell

your platinum also ebay is an option i

don't like ebay personally because they

protect the buyer over the seller

but that is also an option so there are

very

there are many different routes you can

take when it comes

time to sell your platinum at the end of

the day

the lcs will take platinum my lcs takes

platinum

as well as the online dealers will take

platinum

so if part of your concern with getting

in platinum

was what is your exit strategy going to

be which is a smart thing to think about

when you are stacking is what is your

exit strategy

rest assured there are many people out

there who want to get into platinum

do not want to pay the dealer premiums

do not understand the dealer premiums

but still want to get into platinum but

usually

skip out on it because of the premiums

that dealers have

but if they see your listing and it's

lower than what the dealers are selling

it for

closer in line with spot then they're

probably going to pick it up

unless you have like a 10 ounce bar of

platinum that costs 10

000 you're gonna get

premium when you sell don't i would

suggest

not ever listing platinum for sale on

any marketplace online or face-to-face

at spot because yes you will get a buyer

very quickly but you'll miss out on your

opportunity to recoup some of that

premium that you originally spent

even if spot goes through the roof the

premiums are going to hold

with all the dealers and the stores and

everything so

there are many different options for

selling

person to person or to a private

individual in regards to platinum

there is always the option of the lcs my

lcs takes it

and the dealers will take it now on the

lcs side of things

my lcs explained it to me like this

platinum is not as sought after as gold

and silver at least in his opinion in my

opinion my opinion is different from

that i think a lot of people want to get

into platinum

it's just very hard to find

but in his opinion many people do not

get into platinum so he takes more of a

risk on taking in platinum

knowing that if he took in silver he

could probably flip it pretty quickly

so what he does is he bases the price he

takes it in on the price

that the refineries will give him for

platinum

refineries on average give less for

platinum than gold and silver

why it is harder to work with it is

harder to melt down

and it requires more

effort to refine it

and so that adds cost to their overall

process and that cost gets passed from

the refinery to the lcs or the bulk

dealer or whatever

that's looking to unload all of this

metal that they got in

so my lcs will take platinum but he will

give me less for platinum than he will

for silver and gold

so that is something to think about if

you are the type of person who likes

going to your lcs to sell

platinum is going to be a hard sell

because your lcs probably deals more in

gold and silver

so there is a little bit of a downfall

on that aspect

but in my opinion try out

some of the online available resources

facebook instagram

reddit craigslist let go offer up

and i think you'll be surprised at not

only how easy it is to

conduct transactions online but really

how secure it is

at the end of the day i think most

people

are honest right we all make mistakes

and we all do things we shouldn't at

some point in our life but

most people are honest people so most

people are not looking to scam you

don't take that advice and just say oh

the world is just a happy place and i'm

never going to get scammed

take precautions no matter what

a key the best advice i can give you

for selling online to someone you don't

know

if it's someone big like a big youtuber

like silver dragons

yankee stacking someone like that you

can trust them and you can send them

your medals

because they have a reputation to uphold

they have built a reputation for

themselves and they want to uphold that

reputation within the community

but if you are looking to sell to

individuals whom you do not know

have never met or come in contact with

or anything like that

what you need to do is protect yourself

put everything in writing

every time i've sold platinum online to

random people after listing it somewhere

like

facebook or something every time i've

sold platinum to a random person

i have told that person i pack securely

and safely i usually end up adding more

tape than probably necessary to my

packages i make sure to pad them well so

you don't know it's a bunch of

coins or possibly gold or silver or

platinum in it

and i make the package as unsuspecting

as i possibly can

but i let the buyer know that hey

i'm selling this to you i will pack it

securely i promise you that if you'd

like a photo of the package

or whatever i'll provide whatever you

need but i let the buyer know that i am

not taking any responsibility

for any mess-ups that the postal service

has

and what i mean by that is if the postal

service loses it

that's on the buyer now if they want to

buy insurance

if they want to pay me extra shipping to

insure their package for a thousand

dollars two thousand dollars

i'm more than happy to do that but if

they want to take the risk

and not insure the package then that is

on them

now another thing to cover myself is

instead of just dropping the package off

at the post office leaving it on the

counter

dropping it in the bin whatever i go up

to the counter i say hey i would like a

receipt for this

they scan my package the tracking

updates and it says

you know my local post office is now in

possession of the item

at that very moment i am no longer

responsible if they bought insurance

and the package is lost i usually let

the buyer know

that you know hey if anything happens

this package you have it insured

i will help in any way necessary

so yeah most buyers i have found online

are willing to risk a little to gain a

little they'll risk buying from

someone they don't necessarily know

to save a little on a purchase they

would have otherwise made

at max or jm bullion or wherever

and they're willing to take that risk

and usually they end up rewarded for it

because they get a better deal on

platinum

than they do anything else so my

suggestion is if you have never bought

anything from a random individual online

try it out once

or twice try you know buying something

do your research make sure you are

protected

and at the end of the day

always just weigh your options the pros

and cons of everything

but yeah guys i just wanted to make this

video talking about

your options in regards to selling

platinum i know that is a question a lot

of people probably have

and are probably curious about in

regards

to platinum so

that's all for today i hope you enjoyed

the video

and until next time we will see you

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