A few thoughts on physical Gold, Silver and the "Alt-Metals"
I've always been an alternative investor by nature. I started investing in Gold and Silver seriously about 10 years ago and its been a long interesting ride. In my precious metals stack, I have about 60% Silver, 30% Gold and 10% of a mix of Platinum, Palladium and yes, Rhodium.
I have a few Rhodium bars that are now available from Pamp as well as from the Baird Mint. I bought them last year when Rhodium dipped below Platinum around $800 (it is currently around $1,700) I also bought Palladium/Platinum and Rhodium in ETF form at that time in my IRA. This is pure speculation mind you but my reasoning on Rhodium is as follows:
Annual production is very small, only 30 tonnes per year and very little is stored above ground.
80% of the mine production comes from 1 country, South Africa (not exactly a stable mining jurisdiction right now). The rest comes from Russia and a very small amount from Canada and the US. Any major supply disruptions from South Africa or Russia and the price will continue to go up...potentially violently.
There have been several times in the past 30 years where the Rhodium to Gold ratio crossed near or above 10. I'm looking for something similar to that to happen again and if it does, that is when I will trade it in for gold (or silver). Trading in 5 Rhodium bars for 50 1oz Gold coins wouldn't be one of my worse life decisions.
Looking at the long term charts, the spike highs are getting higher and the spike lows are getting lower
More can be found on Rhodium here:
https://en.wikipedia.org/wiki/Rhodium
Just some food for thought, give it a look. I purchased mine from BullionExchanges (I used some of my Bitcoin...ooops!).
https://bullionexchanges.com/buy-rhodium
Nice post, I always wanted to get some platinum and palladium for my precious metal stash but never could pull the trigger.
I have to admit it was awkward for me when I first did too, but I've gotten way over that now...lol...I'm firing all kinds of bullets that would have freaked me out just a few years ago. Thanks for stopping by.
Sounds like you got a nice little stack going. I love investing in precious metals. Sure it might not be as profibale as cryptocurrency or stocks. But something about collecting a large stack of rare metals is so fun to me.
Its not as profitable yet. But I have never hugged a stock, I have given a warm embrace to a bar of silver though :-) I invest in Cryptos and Stocks as a speculation to maybe grow my family's wealth...I invest in Silver and Gold as insurance to prevent from getting poor during the inevitable collapse of the dollar. For me, its two different mindsets and they sometimes argue with each other in my head...I sometimes have to put them in separate corners.
I had no idea about rhodium. I will definitely do some more looking into this. Thanks for writing this wonderful article! I will definitely be following you :)
Thanks for stopping by rball...welcome to Steemit
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Great post @matthewwarn I was interested in Platinum but might have to have a look at these other ones too.