Platinum - the forgotten precious metal?

Diane Bailey

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Platinum - the forgotten precious metal?

diane_bailey💰Established (100-250k)

3 days ago

Key Takeaways

•Been thinking a lot lately about platinum.
•But my precious metals guy brought up platinum a few months back, and it's been rattling around in my head ever since.
•My overall portfolio is sitting around the $200k mark, and a good chunk of that is in physical gold in my IRA.

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Been thinking a lot lately about platinum. My Gold IRA holdings are doing what they do, steady as she goes, which I appreciate with the kind of rollercoaster I've ridden running my tourism business down here in Savannah the last few years. But my precious metals guy brought up platinum a few months back, and it's been rattling around in my head ever since.

My overall portfolio is sitting around the $200k mark, and a good chunk of that is in physical gold in my IRA. I've always been a gold bug, always will be. It's what got me through the lean times during the pandemic when tourism completely dried up. But with all the talk about electrification and green energy, isn't platinum poised for a comeback? It's crucial for catalytic converters, and there's a lot of demand for it in other industrial applications.

Compared to gold and even silver, platinum just seems… overlooked. The price has been pretty flat for a while, while gold keeps ticking up. Is this a classic case of an undervalued asset hiding in plain sight, or is there something I'm missing? Are there downsides to platinum that I'm not considering as much as I do with gold?

What are others' thoughts here? Anyone here holding platinum in their IRA or personally? Did you get in already, or are you waiting for a better entry point? My gut tells me there's opportunity, but my cautious investor side (the one that survived 2008 and 2020) wants to hear some other perspectives before I start shifting around any of my allocations.

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5 comments

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Best Answer▲ 7 upvotes

laura_sanchez💰Established (100-250k)

Hey, interesting thought on platinum! It definitely doesn't get as much airtime as gold or silver for IRAs. One thing to keep in mind is that the IRS has specific fineness requirements for platinum to be IRA-eligible (usually 99.95% pure).

You might find this IRS Notice 98-34 helpful, which outlines the types of coins and bullion that are allowed. It's a bit of a dry read, but good to know the official rules!

Comments (5)

richard_garcia👑Elite (1m-5m)Real Investor•3 days ago

Totally get what you mean! I actually had a similar thought a while back when I was looking into diversifying my metals a bit. Gold was my anchor, for sure, especially after a rough few years with my construction business. But I kept looking at platinum and thinking, "Is everyone just sleeping on this?" It's not nearly as talked about in the IRA space, is it?

jennifer_martinez💰Established (100-250k)Real Investor✓ Verified•3 days ago

Hey, interesting thought! That makes sense, especially with the tourism biz being so up and down. I'm curious though, when you say your "Gold IRA holdings are doing what they do," are you talking about physical gold or more like ETFs/related stocks?

karen_robinson💼Starter (0-50k)•3 days ago

Interesting take on platinum! I get where you're coming from with the "forgotten" angle, especially with gold and silver stealing most of the headlines. But honestly, I've always seen platinum as less "forgotten" and more "niche." It's got its own set of industrial demands and a different supply dynamic that makes it behave a bit differently than gold.

For a Gold IRA, I think the diversification argument for platinum can be a double-edged sword. While it *could* zig when gold zags, it also tends to be more volatile due to those industrial ties. So while it might be a good speculative play, maybe not as much of a "safe haven" as gold. Just my two cents, though!

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•3 days ago

You might find this IRS Notice 98-34 helpful, which outlines the types of coins and bullion that are allowed. It's a bit of a dry read, but good to know the official rules!

robert_thompson💰Established (100-250k)Real Investor✓ Verified•3 days ago

Couldn't agree more with the "steady as she goes" on the gold front, OP. My Gold IRA has been a rock these past few years too, especially with the crazy real estate market I've been navigating. Definitely makes you appreciate something reliable.

But yeah, platinum is interesting. I've always seen it as something with more industrial demand, which can be a double-edged sword. Might be worth a closer look though if it's lagging.

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