Popular IRA-Approved Platinum Bullion
Precious metal investors are more than familiar with gold and silver bullion. Investors purchase gold and silver coins or bars as a hedge against inflation and market fluctuation, directing those coins and bars to Precious Metal IRA accounts. Fewer investors are familiar with the fact that platinum coins and bars can also be purchased and directed toward Precious Metal IRA accounts. The variety of IRA-approved platinum bullion is less diverse than gold and silver, which can make it more difficult for investors to find the right platinum investments. Below you’ll find a rundown of the most-popular IRA-approved platinum bullion products we carry at JM Bullion.
Introduction to Platinum
With a shiny luster similar to silver, platinum is actually named for the Spanish term “little silver” or platina. Silver-white in appearance, platinum is a precious metal that is dense, malleable, ductile, and highly unreactive. Its high-unreactive nature has made it popular in a variety of industries. Catalytic converters in cars are one of the largest industrial uses for platinum, as well as laboratory equipment, electrical contacts, dental equipment, and even jewelry. Platinum prices have ebbed and flowed drastically in the last few decades, with prices trending higher for most of the 2000s and 2010s.
Popular IRA-Approved Platinum Bullion Coins
When it comes to diversity, the best option for platinum investors is to purchase platinum bullion coins. Like their silver and gold counterparts, platinum bullion coins are issued by sovereign mints and feature government backing for the purity and weight of the coins. The availability of platinum bullion coins cannot match gold and silver, but when compared to platinum bars you’ll find far more options to choose from when making investment purchases. The following are the most-popular IRA-approved platinum coins:
- American Platinum Eagle: Introduced in 1997, the American Platinum Eagle coinage features the Statue of Liberty’s face on the obverse side and the image of a bald eagle soaring over America on the reverse. The proof version of Platinum Eagles is notable as the only US Mint bullion coin with a changing design set with each year’s release.
- Australian Platinum Kangaroo: One of two major platinum bullion issues from the Perth Mint, the Australian Platinum Kangaroo coin is among the newest options in the market. The coins debuted in 2018 with the famed hopping red kangaroo design with a sunburst edge design.
- Australian Platinum Platypus: The Australian Platinum Platypus coinage is similar to other Perth Mint collections in its use of a native species on the coin’s reverse side. However, the Platinum Platypus coinage doesn’t change designs as often. The Platinum Platypus is the first major platinum bullion coin from an industrialized nation, debuting in 1987.
- Austrian Platinum Philharmonic: The Austrian Mint introduced the Platinum Philharmonic to join the silver and gold versions in 2016. It bears the same designs featured on its counterparts in other metals with .9995 pure platinum content.
- British Platinum Britannia: Another new addition to the lineup of IRA-approved platinum coins in 2018 was the British Platinum Britannia. The coins feature the same Britannia design and effigy of the monarch from other Britannia coins and have the unique option of a 1/10 oz fractional Platinum Britannia as well.
- Canadian Platinum Maple Leaf: Like the American Platinum Eagle and Australian Platinum Platypus, the Platinum Maple Leaf is an established IRA-approved platinum coin. Available since 1988, the Platinum Maple Leaf includes only a 1 oz platinum coin option as of 2009.
These coins represent the most common and well-established IRA-approved platinum coins. There are other new additions popping up in the market as time passes. The Royal Mint’s Queen’s Beast Series of platinum coins is yet another example of a recent addition with each of the 10 designs in the collection available in platinum.
Popular IRA-Approved Platinum Bullion Bars
For those investors who prefer the simplicity of platinum bars, the options dwindle compared to coins but still come from many of the most respected refineries around the globe. The selection of popular IRA-approved platinum bars come from the likes of PAMP Suisse, Valcambi, and Credit Suisse. Weights range from 1 Gram to 1 Troy oz and 10 Troy oz. The following is a brief rundown of popular IRA-approved platinum bars available from JM Bullion:
- PAMP Suisse Fortuna: The Fortuna Series of bars from PAMP Suisse includes precious metal bars in gold, silver, platinum, and palladium. The famed image of Fortuna, the Roman goddess of fortune, is found on the obverse face while the PAMP logo and identifying markers are engraved on the reverse. The Fortuna platinum bars are the most diverse option you’ll find, with 1 Gram, 1 Troy oz, and 10 Troy oz commonly available.
- Valcambi Platinum Bars: Valcambi’s collection of platinum bars is anchored by the 1 oz bar. Simplicity is the name of the game, with designs focused solely on the Valcambi logo and a serial number with assayer’s mark.
- Credit Suisse Platinum Bars: Credit Suisse is one of the oldest names in precious metals refining. Originally opened in the 1850s in an effort to fund the construction of the Swiss national rail system, today Credit Suisse refines silver, gold, and platinum bars in a variety of weights.
Basics of a Platinum IRA
Platinum IRA accounts are much like their counterparts in silver and gold. The products you buy and direct toward a Platinum IRA must have a minimum fineness of .9995 pure platinum. Platinum coins must come from sovereign mints while platinum bars must come from a refinery that has established and credited assayers. Because gold and platinum tend to move in opposite directions (platinum goes up, gold drops, and vice versa), a Platinum IRA is a great means of achieving diversification among your Precious Metal IRA accounts. You can use the popular IRA-approved platinum mentioned above in Platinum IRAs that operate like traditional or Roth options.
Buying Popular IRA-Approved Platinum
For assistance with your platinum purchase or to get answers regarding the aforementioned popular IRA-approved platinum coins and bars, give JM Bullion customer service a call at 800-276-6508. You can also connect with us online through our live chat and email address.
