Be honest, who bought paladium on Jan 26, 2001?

[truthteller]

January 26, 2001

 

 

 

$263.55 Gold

4.7850 Silver

615.00 Platinum

1090.00 Paladium (now 150.00 per oz)

 

From Kitco.com, London PM spot prices

 

TRUTH

 

[Higashiyama]

I do not own any palladium and never have, but, in honor of your Hunt Brothers post, and since you are asking for confessions, I will confess to the following:

 

Very shortly after the silver bubble burst, as the price plumetted down past $ 15, my younger brother and I, college age and naive said to each other -- it can't go down much further, and each bought a 10 ounce bar.

 

The bar is on my desk here in Tokyo, makes a nice paperweight, and is a constant reminder that bottoms are hard to predict. (as anyone following the Nikkei over the past ten years can attest to!)

[Higashiyama]

So Truth, in light of my post, can I rephrase your question as "who bought Palladium on the way down, but at more than double the current price"

[TomB]

I bet your silver bar has toned nicely, although likely only slightly, over the years. Perhaps some burnt blue/purple with deep gold dominating near the edges?

[Higashiyama]

TomB -- actually, it has! The toning is quite attractive, certainly worth a small premium over bullion value. There are three distinct areas, the top, with its concave cast appearance, the very flat bottom, and the edges. The edges and the bottom have quite attractive toning -- the top has remained more or less "white".

 

Your description of the colors is remarkably precise.

[Beijim]

Heh heh, perhaps ACG would be willing to slab your paperweight in MS70 condition, thereby granting you immediate condition rarity and the ability to list it on eBay at a substantial premium to spot?

 

I mean, now that the Hagers are no longer constrained by the ANA standards...

 

Beijim

 

[michael]

some thought that a technology discovery would let palladium replace platinum in automobile catalytic converters

 

but that bubble burst like a huge festering boil on someones arsh

 

and like the boil maybe evenmoreso some got a really painful awakening

 

]sincerely michael

 

 

[TomB]

That was some descriptive post, michael!

 

I can actually picture what your silver bar looks like in my mind. It's quite attractive!

[Beijim]

Heh heh, thanks for the visual.

 

[PtAgAu-migration]

Palladium has been dropping due to decrease demand primarily in:

 

1. autocatalyst (much greater recovery this year as well)

2. dental

3. electrical

 

Price is a function of supply/demand and its movement in stocks has gone from highly negative to positive. Interestingly, you couldn't find a one-ounce bar on eBay just 3 months ago...now since the price has recently plummeted, eBay supply and demand has skyrocketed.

 

web page