Thinking about adding platinum to my IRA - am I crazy?

Janet Cook

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Thinking about adding platinum to my IRA - am I crazy?

janet_cook📊Growing (50-100k)

about 2 months ago

Key Takeaways

•Okay, so I've been kicking this around for a while now, and with palladium doing...
•well, whatever it's doing, it's got me wondering about platinum.
•My Gold IRA is sitting pretty solid right now, probably around the $80k mark, mostly physical gold I rolled over from an old 401k a few years back.

The 3-step rollover process explained

Okay, so I've been kicking this around for a while now, and with palladium doing... well, whatever it's doing, it's got me wondering about platinum. My Gold IRA is sitting pretty solid right now, probably around the $80k mark, mostly physical gold I rolled over from an old 401k a few years back. It’s comforting to have. But as a jewelry store owner here in Providence, I’m constantly looking at the underlying value of metals, not just the market price.

I feel like platinum has been absolutely hammered for a while, especially compared to gold and even palladium for a long stretch. We sell plenty of platinum jewelry, so I understand the industrial demand side, particularly with auto catalysts. But just looking at the spot price history, it seems like there's a huge disconnect. Gold is holding strong, palladium went parabolic and is now correcting, and platinum just... exists down there. Is this the classic "buy low" opportunity staring me in the face, or is there some fundamental reason it's just not going to pop like its sister metals?

My thought process is this: for an IRA, it's a longer-term play. I'm not looking for a quick flip. If I divert, say, $10k-$15k of new contributions into platinum instead of more gold or even some silver, am I making a smart move for diversification? I'm just looking for something with a bit more upside potential that still offers that tangible asset protection. It feels undervalued to me, but emotions don't always move markets.

Anyone else in a Gold/Silver/Palladium IRA looking at platinum right now? What are your thoughts? Am I missing a big red flag here, or is this really a decent entry point for a long-term hold in an IRA? Would love to hear some other perspectives on this, especially from those who know metals beyond basic investing.

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5 comments

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Best Answer▲ 10 upvotes

susan_clark💰Established (100-250k)

Not crazy at all! Platinum can be an interesting diversifier. Just make sure you're aware of the specific IRS rules for precious metals in an IRA – not all forms of platinum are approved. Generally, it needs to be at least .9995 fine.

You might find this guide helpful for understanding the ins and outs of platinum IRA eligibility: https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras (check Publication 590-A for the specific metal requirements). Good luck!

Comments (5)

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

Not crazy at all! I actually did something similar a few years back. My gold IRA was doing well, and I started looking at diversifying with platinum. Ended up allocating about 10% of my total IRA to platinum coins. It's been a pretty interesting ride, definitely not as stable as gold, but it's added a different dynamic to my portfolio.

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

Interesting thought! So when you say "platinum doing... whatever it's doing," are you talking about spot price volatility or something else entirely? Curious to hear your read on it.

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

I hear you on palladium being a bit of a rollercoaster, but honestly, adding platinum might just be swapping one volatile metal for another, at least in the short term. While it definitely has industrial demand, its price can be pretty sensitive to economic downturns. Your gold is a rock-solid foundation, why introduce that kind of potential swing into what sounds like a very stable IRA?

susan_clark💰Established (100-250k)Real Investor•about 2 months ago

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

Not crazy at all! I'm in a similar boat, actually. My Gold IRA is around $75k, also mostly physical gold. I've been eyeing platinum too, especially with the dips it's had. Diversification within precious metals makes a lot of sense to me.

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