Your thoughts on Platinum Bullion or Platinum for a Precious Metals IRA

david214

Hi collectors, I am curious of your thoughts on Platinum when it comes to Precious Metals. I heard that platinum is on the verge of encountering a much more limited use case but the price per ounce seems quite nice when compared to others. Also, isn't Platinum much more rare than Silver and Gold making it a better investment (to hold onto something more rare) when considering a Precious Metals IRA or simply acquiring Platinum Bullion.

Smudge

Platinum is rare, but not as popular. Don't forget the demand side of supply and demand.

bronco2078

Just get a gun , load it with platinum bullets and shoot me in the head now it would be the least stressful way of basing my retirement on anything involving platinum .

My prediction is 20 years from now you will find a portfolio based wholly on scratch tickets will have outperformed platinum .

Timbuk3

!!!

derryb

you should be questioning precious metal IRAs in general. I find them to be a bad idea for a number of reasons. If I found myself dumb enough to invest in a metals IRA it would be loaded 100% with silver.

If you want an IRA based on precious metals open either a regular or Roth (my preference) IRA with an online broker. You can buy the metal miner stocks or ETFs (my preference). Big advantage over a PM IRA is that you can buy and sell at any time as long as you don't withdraw any monies before the correct age. This prevents you from losing value in the down years. There are even ETFs that allow you to profit from the declines. ETFs are like mutual funds but trade as easily as do stocks.

ETF database

Welcome to the forum. Enjoy.

jmski52

My prediction is 20 years from now you will find a portfolio based wholly on scratch tickets will have outperformed platinum .

I'm tempted to take the other side of that bet.

Why would you want to put precious metals in an IRA? There is no interest or earnings to accrue, which is basically the point of deferring taxable income from an IRA in the first place. And, there is the question, "why would you let a 3rd party have control of your precious metals in the first place?"

I suppose you could use an IRA as a trading vehicle to defer profits from trading in the precious metals, but that assumes that there will be tradeable profits in the first place, after going through the 3rd party custodian for every single trade. That doesn't sound like my idea of a good time.

See derryb's response (above) for a better approach if you want a precious metals vehicle in a tax-deferred account.

jmski52

_I heard that platinum is on the verge of encountering a much more limited use case _

What is it that you've heard? Just asking.

ricko

I stay away from platinum... just does not have the liquidity of silver or gold....and the value is not nearly as likely to rise. Cheers, RickO

asheland

Platinum is cool, but for investment, I agree gold and silver is the way to go.

AUandAG

Will it continue down or is this the bottom? I say find the demand and then if you do invest. If not then pass.
bob

ttown

Here's one I purchased.
https://www.jmbullion.com/2018-1-10-oz-british-platinum-britannia-coin/

I prefer to buy 1/4 ounce proofs they are great designs and many can be bought for 400ish.
Depends if you want lumps of metal or have a little insurance on a collectible without much premium over a bullion product.

david214

@ttown , nice; seems like there isnt many Platinum suppliers out there...

I winded up going with who I am most familiar with that are local to me:
https://usbullionreserve.com/precious-metals/platinum-bullion

Its very strange to me that Platinum is so rare valuable but at the same time if absolutely no use then the price drops.

I must be careful with it, did a small amount for now. I have a good feeling about Silver. New to all of this, still learning.

I appreciate all the feedback very helpful.