Anyone else seeing crazy palladium premiums right now? Custodian reccos for IRA?
- •Okay, so I've been eyeing adding more palladium to my Gold IRA for a while now, especially with how the auto industry is starting to rebound.
- •I’m talking 20-30% over spot for 1 oz bars.
- •It feels like everyone decided to pile in simultaneously.
Okay, so I've been eyeing adding more palladium to my Gold IRA for a while now, especially with how the auto industry is starting to rebound. I run a jewelry store here in Providence, so I'm pretty familiar with precious metal spot prices and premiums, but the spreads I'm seeing for physical palladium right now are just insane. I’m talking 20-30% over spot for 1 oz bars. It feels like everyone decided to pile in simultaneously.
My current custodian is kind of a mixed bag. They're good with gold and silver, but their palladium options are limited, and the premium they're charging on top of the already high dealer premium is just making my eyes water. I've got about $70k in my IRA right now, mostly gold, but I want to get at least another $10-15k into palladium this year. I'm trying to diversify a bit more.
So, my question for the group is, who are you guys using for your Palladium IRAs? Are you seeing similar premium issues, or has your custodian hooked you up with better deals? I understand there's always a premium, but this feels excessive, and I'm wondering if I should be shopping around for custodians specifically for palladium. I'm looking for someone with a good selection of IRA-approved bars (PAMP, Credit Suisse, etc.) and, honestly, lower overall costs.
Any recommendations or warnings about specific custodians would be super helpful. Are there any that specialize more in the platinum group metals? I'm debating whether it's worth the hassle of transferring a portion of the IRA just for palladium, but if the savings are significant, it might be. TIA!