IRA Approved Platinum
Platinum is a ductile, malleable, lustrous metal with a silver-white shine that is often used in the production of fine jewelry and watches. In addition to jewelry and decorative items, platinum is also a popular choice for bullion. It is a relatively rare metal that doesn’t tarnish or wear out. Its beautiful silver sheen and scarcity have historically made this metal a symbol of wealth and prestige.
Different Types of Platinum Bullion
Platinum is produced as bullion in several forms, including bars and coins. Although the same metal, each type of bullion holds a different appeal for collectors and investors. The type of bullion and its size will also affect the premium you pay over the current market value of platinum.
Bars are produced in smaller gram sizes along with 1 and 10 oz sizes. Bars are widely available, and you can generally find the exact size, design and price that you want. Most platinum bars come with an assay certificate, which verifies the bar’s purity, weight, and mint of production. This makes the bars easy to resell in the future. Generally, bars from the same mint are designed to be stackable, which make them easy to store in a home safe.
Platinum coins are produced all over the world from a wide variety of countries, providing investors and collectors with a wide selection of different styles and designs. There are a number of different types of platinum coins, depending on the originating country. The most important factor to consider when purchasing platinum coins is the platinum content in the coin – generally 99.95% platinum is acceptable.
Platinum: A Viable Option for IRAs
Platinum, as a precious metal, avoids some of the volatility of the market and provides stability and diversity to an investment portfolio. Because it is not tied to paper monetary systems, it generally retains its value even when the market is in flux. The IRS allows certain precious metals to be included in an IRA account.
Which Types of Platinum are IRA Eligible?
Any platinum bars or coins that are .9995+ fine are eligible to be placed in a precious metals IRA account. Eligible coins include American Platinum Eagles, Australian Platinum Koalas, Canadian Maple Leafs and Isle of Man Platinum Nobles.
How to Set Up an IRA with JM Bullion
The process is easy and hassle free. First, open an IRA account with an investment administrator such as New Direction IRA. The application can be found here. Opening a new account generally takes up to two business days.
Once the account has been set up and funds deposited, call and place your order with JM Bullion over the phone. They will help walk you through the process and ensure that the products you wish to purchase are IRA eligible. JM Bullion will then send the invoice directly to New Direction IRA, who will then wire the funds to pay for your order. After that, the order will be shipped directly from JM Bullion to the depository of your choice.