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 Mitchell, 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.
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.
As a general rule, you should look at buying legal tender platinum coins wherever possible. This will almost certainly include less overhead and premium than other formats, and be closer to the true spot price of platinum.
Purchasing rare platinum coins should be avoided unless you really know what you're doing. Some subjective measures of value are easy to misjudge, and may result in you getting taken advantage of.
It's important to comply with the law when it comes to buying platinum, and knowing what they are goes a long way.
Under a certain dollar amount, there's no need to declare (which may be attractive to some), but once you hit a threshold you will need to (and should) declare your holdings.