Platinum IRA for the win? My recession prep thoughts.

Janet Cook

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🔲 Platinum IRA

Platinum IRA for the win? My recession prep thoughts.

janet_cook📊Growing (50-100k)

2 days ago

Key Takeaways

•Been thinking a lot about recession-proofing lately.
•My jewelry store in Providence has seen its fair share of ups and downs over the last 20 years, so I like to be prepared.
•I bought in big back in 2018-2019 when gold was still under $1500 an ounce, and it's been a sweet ride.

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Been thinking a lot about recession-proofing lately. My jewelry store in Providence has seen its fair share of ups and downs over the last 20 years, so I like to be prepared. My current Gold IRA, which is sitting pretty at just over $75k, has been a fantastic hedge against inflation, and frankly, just makes me feel a bit more secure when the news cycle gets a little too wild. I bought in big back in 2018-2019 when gold was still under $1500 an ounce, and it's been a sweet ride.

Now, I'm looking at platinum more seriously, especially for new contributions to my IRA. As a jeweler, I know platinum's value and the industrial demand for it, which seems like a more robust factor than just pure speculative fear. I'm considering shifting some of my annual contributions, maybe 20-30%, into a Platinum IRA. The current price point feels attractive, and its industrial uses (automotive, medical devices) seem like a good diversification from gold's more traditional "safe haven" appeal.

I get that platinum can be more volatile than gold, and I’ve seen that play out in the retail side of my business. But for an IRA, with a longer time horizon, I'm wondering if that volatility could actually net better long-term gains if I'm smart about when I buy in. I’m thinking about setting aside another $10k this year for my IRA, and wondering if that whole amount should go into platinum, or if I should just split it with gold.

Anyone else here diversified their precious metals IRA beyond just gold and silver? Specifically, has anyone had good (or bad!) experiences with a Platinum IRA during economic downturns? Curious to hear some real-world perspectives on this. Is platinum truly a smart move for recession-proofing, especially for someone who already has a solid gold base?

3 comments

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Best Answer▲ 6 upvotes

andrew_roberts👑Elite (1m-5m)

Totally get where you're coming from with the recession prep. My small business hasn't been around as long as your jewelry store, but the last couple of years have definitely made me think harder about diversifying. I've been eyeing platinum too, though my current gold holdings are a good bit less than yours!

Comments (3)

andrew_roberts👑Elite (1m-5m)Real Investor✓ Verified•1 day ago

michael_anderson🏆Advanced (250-500k)Real Investor•1 day ago

Interesting thought process! When you say your Gold IRA is "sitting pretty," are you referring to its performance specifically during previous downturns, or just its current value? Curious about your experience there, especially with your background.

joseph_harris📊Growing (50-100k)•1 day ago

Interesting take, OP. While platinum definitely has its industrial uses and can be a solid investment, I'm not entirely convinced it's the best move for recession prep compared to gold. Gold has a much longer, more consistent history as a safe haven asset during economic instability. Platinum can be more volatile due to its industrial demand fluctuations. Just something to consider before going all-in!

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