Thinking about platinum for my IRA – anyone else?

Janet Cook

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Thinking about platinum for my IRA – anyone else?

janet_cook📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I've been running my jewelry store here in Providence for over 20 years now, so I definitely know my way around precious metals.
•My Gold IRA's been doing pretty well, sitting around the 75k mark.
•Mostly gold and some silver, as you'd expect.

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I've been running my jewelry store here in Providence for over 20 years now, so I definitely know my way around precious metals. My Gold IRA's been doing pretty well, sitting around the 75k mark. Mostly gold and some silver, as you'd expect. But I've been eyeing platinum lately, and I can't shake the feeling it's seriously undervalued right now, especially compared to gold.

Used to be, platinum was consistently trading at a premium to gold. Now, it's often significantly below. With the push for green energy and hydrogen fuel cells, which use platinum as a catalyst, you'd think demand would eventually pick up. Is this just a temporary dip because of the auto industry's slow down, or is there something more fundamental happening? I'm debating whether to allocate a portion of my annual contributions to platinum for the next year or two, just to see what happens.

I plugged some numbers into that Gold IRA Calculator on Gold IRA Blueprint the other day, playing around with different growth scenarios for a platinum allocation, and the potential returns if it just reclaims its historical premium are pretty compelling. It's making me wonder if I'm missing something obvious. Am I totally off base here? What are people's thoughts on platinum's future in an IRA? Is it worth the risk for potential upside, or should I just stick to the tried-and-true gold and silver?

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5 comments

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Best Answer▲ 6 upvotes

robert_thompson💰Established (100-250k)

Hey, interesting thought on platinum. While I get the appeal, especially with your background, I've always been a bit wary of it for an IRA. The industrial demand can be pretty volatile, and it just doesn't seem to have the same long-term stability as gold or even silver in terms of a true "safe haven" asset. Gold's track record as a monetary metal is just so much stronger, IMO.

Comments (5)

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

Hey, cool post! I actually had a similar thought process a while back. My IRA isn't nearly as robust as 75k, but I also started with the typical gold and silver. Then, after doing some research, I decided to diversify a bit with platinum. No regrets so far, it's been interesting to watch!

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

Hey, that's interesting given your background! Since you're so familiar with the metals market, what specifically about platinum is catching your eye right now? Is it the current price point, or something else you're seeing in the industrial demand?

robert_thompson💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

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

Hey there! Sounds like you've got a good handle on things with your Gold IRA. If you're looking into platinum, one thing to keep in mind is the bid/ask spread – it can sometimes be wider than for gold or silver, especially with less common items. Might be worth checking with a few different dealers to compare their spreads before you jump in. Good luck!

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

I know there's a lot of buzz around platinum lately, and I can definitely see the appeal with the industrial applications. But for my *precious metals* IRA, I've personally stuck with just gold and a little silver. I'm near Fresno, and my local coin dealer always makes a strong case for gold's historical stability, especially in uncertain times. I just wonder if platinum's industrial demand makes it a bit more volatile for an IRA that's supposed to be a long-term hedge against inflation.

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