Thinking about adding platinum to my Gold IRA - anyone else?

Elizabeth Johnson

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Thinking about adding platinum to my Gold IRA - anyone else?

elizabeth_johnson💰Established (100-250k)

about 9 hours ago

Key Takeaways

•I've been kicking around the idea of diversifying my Gold IRA a bit and platinum has really caught my eye lately.
•As an accountant here in Atlanta, I'm always looking at the numbers and something just feels...
•off with platinum's current price.

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I've been kicking around the idea of diversifying my Gold IRA a bit and platinum has really caught my eye lately. As an accountant here in Atlanta, I'm always looking at the numbers and something just feels... off with platinum's current price. It's been hovering around the $900-$1000 mark for a while now, sometimes even dipping below gold, which historically is pretty unusual.

My current Gold IRA is about $180k, mostly in Eagles and Krugerrands that I've been building up over the last five years, largely for the tax benefits and long-term stability. The idea of adding platinum isn't to replace my gold, but more to complement it. I'm thinking 10-15% of my precious metals allocation could be a good starting point. I've been reading some articles suggesting industrial demand for platinum, especially in things like hydrogen fuel cells and catalytic converters, could really pick up. If that happens, and supply remains constrained from South Africa, it feels like there's a strong case for significant upside.

What are others' thoughts on platinum right now? Has anyone here added platinum to their precious metals IRA? And if so, what kind of performance have you seen? I'm trying to weigh the potential for capital appreciation against the liquidity, which I know can be a bit thinner than gold or silver. Are there any particular dealers or types of platinum coins/bars you'd recommend looking into for an IRA?

Is this a smart move right now, or am I getting ahead of myself? I'd love to hear some diverse perspectives beyond what the financial analysts are pushing. Lay it on me!

5 comments

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Best Answer▲ 9 upvotes

donald_nelson💎Premium (500k-1m)

Hey, interesting thought on platinum! It definitely has its own unique market dynamics compared to gold and silver. One thing to keep in mind is that for a precious metals IRA, the platinum has to be a certain purity and form (like coins or bars approved by the IRS). Different from just any old platinum jewelry, for example.

You might want to check out the IRS's guidelines for what's allowed in a precious metals IRA. They have a detailed publication on it which can be super helpful for an accountant like yourself who loves the numbers! Just search for "IRA approved precious metals IRS" and it should pop right up.

Comments (5)

kenneth_parker💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Hey, totally feel you on this one! I was in a similar boat a few years back. Had my Gold IRA humming along nicely, but that itch to diversify got real. I actually ended up adding some platinum and palladium. Not an accountant, but the numbers for platinum at the time just looked too good to ignore compared to gold. It's been a pretty interesting ride so far, definitely adds another layer to the portfolio.

catherine_bell🏆Advanced (250-500k)Real Investor•less than a minute ago

Hey, I've been looking into platinum for my IRA too! You mentioned "something just feels... off with platinum's c" – could you elaborate on what specifically feels off to you with its current state or outlook? Curious to hear your accountant's perspective on that!

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

I hear you on wanting to diversify, but I'm not entirely convinced on platinum right now, especially in an IRA. While the price might seem attractive compared to gold sometimes, the market for physical platinum is just so much smaller and less liquid. If you ever needed to sell, it might be tougher to get a good price quickly compared to gold or even silver.

Plus, the industrial demand for platinum, especially in autos, makes it a bit more susceptible to economic downturns than gold, which often shines as a safe haven. Just something to consider before jumping in, especially with your retirement savings.

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

kenneth_parker💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Totally! I've been eyeing platinum too for my precious metals IRA. Your point about the price feeling "off" resonates with me. I've been tracking it and the current price-to-gold ratio is historically low, which definitely feels like an opportunity. Might be time to pull the trigger.

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