Thinking about adding platinum to my Gold IRA - anyone else?

Charles Lewis

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Thinking about adding platinum to my Gold IRA - anyone else?

charles_lewis💎Premium (500k-1m)

about 4 hours ago

Key Takeaways

•My current setup is mostly gold, with a decent chunk of silver, sitting in an IRA that's just under seven figures – about $850k last time I checked.
•The goal for me, as always, is wealth preservation, especially with the economic uncertainty we seem to be swimming in these days.
•I'm based in Philly, and as a lawyer, I'm all about risk mitigation and making informed decisions.

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I've been watching the gold and silver markets pretty closely, as I'm sure many of you have, and I'm seriously considering diversifying my Gold IRA a bit more with some platinum. My current setup is mostly gold, with a decent chunk of silver, sitting in an IRA that's just under seven figures – about $850k last time I checked. The goal for me, as always, is wealth preservation, especially with the economic uncertainty we seem to be swimming in these days. I'm based in Philly, and as a lawyer, I'm all about risk mitigation and making informed decisions.

My concern right now is that gold, while still a rock-solid safe haven, feels like it’s had a pretty good run lately. Silver too, to a lesser extent. Platinum, on the other hand, seems to be lagging behind. When I look at the historical price ratios between gold and platinum, it just feels like platinum is undervalued right now. I'm talking about getting some American Platinum Eagles or maybe even some Perth Mint platypus coins if I can find them for the right price. My thinking is that the industrial demand for platinum, particularly in catalytic converters, coupled with its relative scarcity compared to gold and silver, makes it ripe for a rebound.

Has anyone here jumped into platinum recently, especially within their Gold IRA or 401k rollover? I’m curious to hear about your experience. Are you seeing the same undervaluation? What specific products did you go with? I'm trying to decide if it's worth allocating, say, 5-10% of my precious metals holdings to platinum. My current custodian handles all the usual suspects, but I want to make sure I’m not missing any red flags or hidden fees when it comes to platinum specific storage or transaction costs.

It's always a balancing act between sticking to the tried and true and recognizing a potential opportunity. My biggest worry is getting in too early if industrial demand stays soft, but given the global push for cleaner energy and car regulations, it feels like a decent long-term play. Any insights or cautionary tales would be greatly appreciated. Thanks!

5 comments

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Best Answer▲ 8 upvotes

margaret_chen🏆Advanced (250-500k)

Honestly, while diversification is great, I'd pause a beat on putting platinum into an IRA. The spread can be pretty brutal when buying and selling, and it's less liquid than gold or even silver in those larger quantities. For a seven-figure IRA, you've got some serious capital, and sometimes sticking to the more established, liquid metals can actually be the smarter play in the long run, even if platinum looks appealing right now.

Comments (5)

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•less than a minute ago

Oh man, I've been in a similar boat! My IRA is mostly gold and silver too, and I actually did pull the trigger on some platinum a few months back. I was a bit hesitant at first, but the analyst I spoke to made a pretty compelling case for its industrial demand and relatively lower supply. So far, no regrets!

daniel_wright💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Hey, that's an interesting thought! When you say you're "seriously considering" it, have you looked into the specific storage requirements or any differences in fees for platinum vs. gold/silver in your current IRA setup? Just curious if that's been a factor in your decision-making.

margaret_chen🏆Advanced (250-500k)Real Investor•less than a minute ago

ronald_morris👑Elite (1m-5m)Real Investor•less than a minute ago

Hey, that's a solid move considering your current holdings! Platinum can definitely be a great diversifier. Just a heads up, make sure the platinum you're looking at is IRA-approved. Not all platinum products qualify, so double-check those purity and fineness standards.

You can usually find a good list of approved metals on your custodian's website, or places like the U.S. Mint's FAQs. Good luck!

brian_edwards🌟Ultra (5m+)Real Investor✓ Verified•less than a minute ago

Yeah, I've been thinking the exact same thing about platinum. It's been hovering at a pretty attractive discount to gold, and historically that hasn't always been the case. I've got a similar setup, mostly gold and silver in my precious metals IRA, and I'm looking to add about 10-15% of platinum to that mix. Good to know I'm not the only one eyeing it!

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