how do I deliver the platinum if I sell futures?

Discussion in 'Commodity Futures' started by jgold310, Feb 4, 2009.

  1. jgold310

    jgold310

    Hello,

    I have a lot of platinum bars and I am wondering what's the procedure if I want to sell contracts on platinum and deliver the metal? Does anyone know how it works? Thank you
     
  2. one lot = 50oz?

    how about trading covered options>? theres always ebay
     
  3. Jachyra

    Jachyra

    It would be virtually impossible for you to be able to sell the physical metals on the futures exchange. You have to be in the business of doing this, have millions of dollars, have a warehouse to deliver them, and also be approved in advanced by the exchange.

    You could sell the contracts as a hedge but you would have to exit the position before the contract expires and roll it into the next contract.

    Best thing to do if this is just a one time deal and you're not looking to get into the business for a living, is find a metals dealer who you can sell them to like this:

    http://www.alaronmetals.com/home.php

    You probably could also find one locally and avoid shipping if you bust out the yellow pages.
     
  4. Tums

    Tums

    check the contract specification.