Palladium in an IRA - anyone actually doing this in 2024?

Janet Cook

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Palladium in an IRA - anyone actually doing this in 2024?

janet_cook📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I've been looking into diversifying my IRA even further, beyond just gold and silver.
•My portfolio is sitting between 75k-80k right now, and I’m always on the lookout for smart moves.
•I own a jewelry store here in Providence, so I’m pretty familiar with precious metals, their market dynamics, and whatnot.

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I've been looking into diversifying my IRA even further, beyond just gold and silver. My portfolio is sitting between 75k-80k right now, and I’m always on the lookout for smart moves. I own a jewelry store here in Providence, so I’m pretty familiar with precious metals, their market dynamics, and whatnot. Gold and silver have been solid, but I keep thinking about palladium.

Used to be, palladium was a bit of a dark horse, but its industrial demand is pretty undeniable. I track the prices daily for work, and while it's had its ups and downs, the long-term outlook seems… interesting, especially with the push for greener tech. The issue is, when I talk to different IRA custodians, some are really pushing it as the next big thing for IRA accounts, while others seem a bit more cautious. It's almost like they have different incentives, which just makes me more skeptical.

The thought of adding palladium to my precious metals IRA is tempting, especially given my background. I understand the supply constraints and the role it plays in catalytic converters, which isn't going away anytime soon. But is it really worth the higher premiums and potentially less liquidity compared to gold or silver if I ever needed to pull it out? I'm trying to weigh the potential for higher returns against the practicalities of holding it within an IRA structure.

Has anyone here actually added palladium to their Gold IRA lately? What was your experience like with your custodian? Any hidden fees or hoops you had to jump through? I'm particularly interested in hearing from folks who've had it in their IRA for a bit longer than a year or two. Did it live up to the hype, or was it a headache?

Seriously, is palladium a smart play for an IRA right now, or am I just overthinking it because I stare at precious metals all day? Any insights or warnings would be super helpful.

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6 comments

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Best Answer▲ 12 upvotes

robert_thompson💰Established (100-250k)

Interesting thread! I'm still relatively new to my Gold IRA, just got it set up with about 150k in physical gold back in January. My rep at Augusta Precious Metals mentioned palladium but kinda glossed over it, same with platinum. Is the spread really that much worse for palladium if you're not moving huge amounts? I'm in Phoenix so logistics for physical metals are always on my mind too.

Comments (6)

michelle_collins🏆Advanced (250-500k)Real Investor•about 2 months ago

Hey, cool to see someone else looking at palladium! I'm definitely not at the 75k mark yet, but I actually dipped my toes in with a small amount of palladium in my self-directed IRA last year. It was a bit more of a hassle to find a custodian that supported it without crazy fees compared to gold/silver, but I eventually found one. No regrets so far, but it's definitely a long play for me. Good luck!

david_brown💎Premium (500k-1m)Real Investor•about 2 months ago

Hey, interesting post! So you're looking at palladium specifically, rather than platinum? Any particular reason you're leaning towards palladium or just curious about its potential in an IRA?

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Honestly, while the diversification angle is interesting, 2024 specifically feels like a weird time to jump *heavily* into palladium for an IRA. It's been on a pretty wild ride, and the industrial demand side, especially with the EV push, makes me a bit hesitant for a long-term, tax-advantaged hold like an IRA. Gold and silver feel a bit more... stable? for that specific purpose, even with their own volatility. Just my two cents from an armchair investor, of course.

betty_king📊Growing (50-100k)•about 2 months ago

Hey, that's a cool idea for diversification, especially with your background! Palladium can definitely add another layer beyond just gold and silver. One thing to keep in mind is the specific purity requirements for IRA-approved palladium. It needs to be 99.95% pure. Also, make sure you're dealing with a reputable custodian who handles palladium storage for IRAs, as not all do.

For anyone else curious about the nitty-gritty of IRA-approved precious metals, including palladium, I found this IRS FAQ page super helpful for clarifying exactly what's allowed and what's not. Good luck with your diversification strategy!

sandra_green📊Growing (50-100k)✓ Verified•about 2 months ago

Totally agree with looking beyond just gold and silver! I've been doing the same thing. I actually added some palladium coins (Canadian Maple Leafs) to my Roth IRA last year. My portfolio is a bit smaller than yours, around $50k, but it felt like a smart way to get some exposure to another precious metal. So far, so good!