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.
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.
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:
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.
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:
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.
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.