Thinking about adding platinum to my Gold IRA - Anyone

Elizabeth Johnson

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📊 Economy

Thinking about adding platinum to my Gold IRA - Anyone

elizabeth_johnson💰Established (100-250k)

about 2 months ago

Key Takeaways

•My current Gold IRA, which is sitting around $180k right now, is heavily weighted towards gold, with a good chunk of silver as well.
•But I'm starting to wonder if I'm leaving potential growth on the table by not looking at platinum.
•Has anyone here already added platinum to their precious metals IRA?

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Okay, so I've been deep diving into economics articles and charts lately (occupational hazard, I'm an accountant here in Atlanta), and platinum has really caught my eye. My current Gold IRA, which is sitting around $180k right now, is heavily weighted towards gold, with a good chunk of silver as well. I got into it a few years ago specifically for the tax advantages and the hedge against inflation, and it's been performing pretty well for me, especially with all the market turbulence we've seen.

But I'm starting to wonder if I'm leaving potential growth on the table by not looking at platinum. From what I'm seeing, it seems quite undervalued compared to gold right now, and the industrial demand, especially with the push for hydrogen fuel cells and catalytic converters, seems like it could really boost its price long-term. My initial thought process was just to stick with the "tried and true" precious metals for my retirement, but diversification within the metals themselves feels like a smart move.

Has anyone here already added platinum to their precious metals IRA? What's your experience been like, and what are your thoughts on its future prospects? I’m looking at different dealers and trying to understand the premium differences compared to gold and silver. I'm particularly interested if anyone has done a partial rollover specifically to incorporate platinum into their existing Gold IRA. My financial advisor is a little more conservative and mostly just pushes standard equities, so I'm really looking for some peer insights here.

Appreciate any thoughts or experiences you can share!

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9 comments

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Best Answer▲ 19 upvotes

paul_hill🏆Advanced (250-500k)

Appreciate you taking the time to share this. Lots to think about for my own portfolio.

Comments (9)

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

Oh man, I totally get where you're coming from! I actually did something similar a few years back. My precious metals IRA was like 90% gold, and I started feeling a little antsy about all my eggs in one basket, even if it was a shiny gold one, haha. I ended up adding some palladium into the mix instead of platinum, but it was the same thought process – felt good to spread things out a bit more. How's the research looking on platinum's industrial demand?

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

Hey, interesting thought on platinum! I've been looking at my Precious Metals IRA recently too and considering similar things.

You mentioned you're an accountant in Atlanta, so you're probably pretty sharp on the numbers. Have you looked into the spread/premiums on platinum bullion specifically for an IRA? Sometimes those can be a real killer compared to gold or silver.

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

Interesting thought, OP! While it's smart to diversify, I'd personally be a bit cautious about platinum in an IRA. It's definitely got industrial demand, but that also makes it more susceptible to economic downturns than gold, which tends to perform well when things are shaky. Plus, the market for platinum tends to be a lot smaller and less liquid than gold or silver. Just something to consider before jumping in with both feet!