Platinum for IRA - thoughts on current prices?

Ronald Morris

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Platinum for IRA - thoughts on current prices?

ronald_morris👑Elite (1m-5m)

about 1 hour ago

Key Takeaways

•I've been watching platinum prices for a while now, primarily for a potential Roth IRA conversion.
•While gold has been a solid anchor, I've always aimed for diversification, that disciplined approach ingrained from years of strategic planning.
•I'm wondering if now might be the time to move some of that conversion into platinum.

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I've been watching platinum prices for a while now, primarily for a potential Roth IRA conversion. My rollover Gold IRA is fairly well established, sitting at around $1.8 million currently, which I built up over a decade and a half – a good portion during my final years as Admiral in Norfolk. While gold has been a solid anchor, I've always aimed for diversification, that disciplined approach ingrained from years of strategic planning. I'm wondering if now might be the time to move some of that conversion into platinum.

From what I'm seeing, platinum is down quite a bit from its highs a few years back. The industrial demand seems a bit wobbly, but the long-term outlook for green tech and hydrogen still seems promising, especially with all the new initiatives popping up. I'm based here in Virginia Beach, and I've been talking to a few local IRA providers, and they all have slightly different takes on the current platinum market. Some see it as oversold, others are a bit more cautious, citing potential dips if vehicle production doesn't pick up significantly.

My concern is obviously timing. I don't want to jump in too early, but then again, missing a substantial rebound would be equally frustrating. I'm thinking of allocating maybe 5-7% of my overall IRA portfolio to platinum, potentially in a mix of coins and bars to balance liquidity and premium. For those of you who have platinum in your IRAs, what are your current sentiments? Are you buying, holding, or even considering selling? And has anyone done a significant Roth conversion with platinum recently? Any insights on the process and current pricing from your end would be greatly appreciated.

3 comments

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Best Answer▲ 8 upvotes

betty_king📊Growing (50-100k)

Honestly, while platinum's definitely got its industrial uses, I'm a bit wary of it for an IRA right now. Gold and even silver just feel like they have more consistent long-term store-of-value appeal, especially with all the economic uncertainty. Platinum can be pretty volatile and might not offer the same "safe haven" characteristics as your gold.

Comments (3)

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

Hey, totally get where you're coming from. I was in a similar boat a few years back, though with a much smaller IRA, lol. I was eyeing platinum for diversification, but the volatility scared me off a bit. Ended up sticking to a mix of gold and silver. How long have you been considering platinum specifically?

betty_king📊Growing (50-100k)•less than a minute ago

Hey, interesting post! Sounds like you've done well with your gold IRA. You mentioned your gold IRA is "fairly well established" – are you thinking of making a significant platinum allocation, or more of a smaller, diversified addition?