Whether you're selling platinum coins, jewelry, or bars, it's critical to find a good buyer. There are a ton of businesses that trade in platinum, and they're definitely not all created equally.
Frequently the value of a platinum item is at least partially subjective, with things like rarity, craftsmanship, and other factors heavily influencing the value. It's important to go into any potential selling situation well informed to help you get the best price!
Whether you decide to go with a national service where your items are mailed in and appraised, or a dealer local to Wailea, research is key. Know who you're dealing with by checking with organizaions like the BBB, and know the value of your items by checking spot prices and getting competing offers.
Selling platinum can be intimidating at first for a new-comer, but it doesn't have to be! As with all things in life, preperation is the key to success.
If you're not buying an huge amount of platinum, you should aim to maintain direct control over it at your home or other property.
If you're investing heavily, to the point where you need a safe alternative location to store it, be sure to go somewhere like Switzerland with strong property rights. It's key to make sure they can't lend or hedge using your stash.
The Swiss government is unique, in that it's highly decentralized. They simply don't have the structure that would allow for a central authority to come in and confiscate property.
Because of this, they've long been considered a safe haven for metals like platinum, and the reason we recommend considering sending some there once you've accumulated a large amount.
Platinum owned through a commodities exchange, or "on paper" is no substitute for physical bars, coins, or jewelry. Exchanges are heavily leveraged, which means if everyone tried to "cash out" at once, there isn't enough physical metal to go around.
Moreover, precious metals are typically meant as a hedge against the complete collapse of the traditional banking infrastructure. If you wind up needing it, you'll want to have it close at hand!
Having liquid platinum on-hand and ready in the event of a crisis is the best hedge. Being invested in platinum ETFs is fine depending on your objectives, but if you're truly hedging against unforeseen market collapses, you want physical metal in your possession.