Thinking about expanding my precious metals to Platinum - anyone here done it?

Hey, that's a cool backstory! Sounds like you've got a solid foundation with silver. Out of curiosity, what percentage of your total $180k are you thinking of allocating to platinum?

Hey, I hear ya on that. I actually did something similar a few years back. Was pretty much all in on gold for like 15 years, then decided to diversify with some platinum. My portfolio was smaller than yours at the time, maybe $50k in gold, but the principle was the same.

No regrets so far. It's been interesting to see how it moves somewhat independently at times. Good luck with whatever you decide!

Interesting thought! Platinum definitely has its unique appeal. However, I've always been a bit wary of it for investment purposes because of its industrial demand being such a huge driver. Gold, and even silver to a lesser extent, feel more like pure monetary metals to me. If the industrial uses for platinum take a hit, the price could really suffer, whereas gold tends to hold its value much more reliably as a safe haven asset. Just something to consider.

Hey, that's a decent stack of silver you've got! Platinum can definitely be a good diversifier, especially with its industrial demand. Just a heads-up, the spread on platinum (buy/sell price difference) can sometimes be wider than gold or silver, so it's extra important to shop around for a good dealer.

You might find some good info comparing platinum with other metals on a site like JM Bullion's blog or APMEX's educational section – they often have articles breaking down the pros and cons of each. Good luck!

Totally agree with this! Diversification is key. I'm sitting on a pretty similar boat, mostly gold, but I dipped my toes into platinum a few years back. Glad I did, it's done pretty well for me. My overall PM portfolio is closer to $250k now and platinum makes up about 15% of that. Definitely no regrets!

Honestly, before diving into Platinum, I'd strongly consider whether your core gold position is where it needs to be. I dabbled with palladium and silver early on, but after a few years and seeing some volatility, I realized I needed to solidify my main precious metals strategy first. The Gold IRA Quiz at https://quiz.goldirablueprint.com/?forum actually helped me clarify my risk tolerance and long-term goals for my gold allocation, which is probably the most crucial step before diversifying into other metals like platinum.

I actually looked into Platinum a while ago, mostly out of curiosity since my Gold IRA is doing its thing. For me, it just didn't have the long-term track record I wanted to see compared to gold and silver, especially with industrial demand being so key. If you're looking for different metals, seriously, check out the Silver vs Stocks comparison. I pulled up the 10-year chart for silver, and it really puts things in perspective for diversifying beyond just gold.

Nah, haven't touched platinum directly. My focus has been primarily on shoring up my retirement savings with physical gold IRA contributions. I did a 401k rollover a few years back and the tax advantages are just too good to pass up right now, especially living in Denver with housing prices the way they are. I've got enough in various precious metals, mostly gold and some silver, that I'm comfortable with for now.

Honestly, I’d be wary of jumping into platinum right now. I looked at it pretty seriously back in '21 when everyone was talking about the EV revolution and catalytic converter demand dropping. The spread between spot and what you'd actually pay for physical platinum, even from reputable dealers, just felt too wide for me to justify. Stuck with what I know best, which is gold and some silver.

Interesting thread. Platinum's definitely a different beast than gold or even silver, with its industrial demand drivers. I briefly looked into it back in 2021 when the EV push was heating up, thinking autocatalysts would send it soaring. Decided against it for my Gold IRA, focusing instead on bullion diversification. The spread was also a bit wider than I liked. For a 100-250k portfolio, I personally prefer staying liquid with gold and some silver, especially since I'm in Minneapolis and finding local buyers for platinum bars/coins isn't as straightforward.

Platinum, huh? So, funny story – I actually dipped my toes in that market back in 2018. Had about 10k set aside from selling off some old tech stocks that surprisingly shot up. My Gold IRA was looking solid, around 70k at that point, and I was feeling a bit adventurous. A buddy of mine, real estate agent out here in Fresno, kept pushing palladium and platinum, talking about industrial demand and all. So, I figured, why not diversify a little beyond just gold and silver? Ended up getting a few Canadian Maple Leaf platinum coins. Man, that was a ride. The first year things actually looked pretty good, then… well, let's just say it wasn't the steady climb I've seen with gold. Eventually, I consolidated most of it back into gold during the 2020 run. It wasn't a total loss, but it definitely highlighted for me that while gold might not give you those explosive gains, the stability and long-term hold are exactly what I want for retirement. Platinum just felt a little too volatile for my comfort level, at least for a significant chunk of my portfolio.

@Steven Mitchell Good call. I'm with you - secure the gold foundation first. I'm just starting out myself over here in Columbus, OH, with under 50k in my Gold IRA so far, and honestly, even getting that set up was a bit confusing initially. Pro tip: use the Eligibility Checker first - saved me a lot of hassle figuring out if my old 401k even qualified before I wasted time talking to companies.