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What is IRA-approved platinum?
And where can you buy genuine IRA-eligible platinum coins, bars and ingots?
Read on as my guide will tell you everything you need to know.
- What is IRA-Approved Platinum (Meaning and Definition)?
- What are Some Examples of IRA- Eligible Platinum Coins and Bars?
- Which Platinum Coins and Bars are Not IRA Approved (Examples)?
- Where to Buy IRA-Eligible Platinum to Include as Part of Your IRA Account?
Table of Contents
What is IRA-Approved Platinum (Meaning and Definition)?
IRA-approved platinum is platinum bullion that meets the IRS’s minimum requirements to be held in an Individual Retirement Account (platinum IRA).
Not all platinum coins and bars are eligible to be a part of an IRA account. IRS has strict requirements on which bullion is allowed and which isn’t.
- Platinum bullion must be at least 99.95% pure.
- Non-proof coins must be in brilliant uncirculated condition and free from damage.
- Platinum must be produced by an accredited refiner or mint (NYMEX/COMEX).
The most popular platinum coin for depositing into a platinum IRA is the American Platinum Eagle ( American Platinum Eagle is the official platinum coin of the U.S).
Platinum isn’t the only IRA-eligible precious metal. There’s also IRA-eligible gold, IRA eligible silver and IRA eligible palladium.
| Precious Metals | Purity Standard |
|---|---|
| Gold | .995 purity or higher |
| Silver | .999 purity or higher |
| Platinum | .9995 purity or higher |
| Palladium | .9995 purity or higher |
What are Some Examples of IRA- Eligible Platinum Coins and Bars?
Here are some examples of platinum coins that are IRA-eligible:
- American Platinum Eagle Coin;
- Australian 1/4 oz Platinum Florin;
- Canadian Platinum Maple Leaf Coin.
Here are some examples of platinum bars that are IRA-eligible:
- Valcambi Platinum bars;
- Credit Suisse Platinum bars;
- PAMP Suisse Platinum bars;
- Engelhard Platinum bars.
These are some examples and there’re more platinum coins and bars you can include in your, platinum IRA, silver IRA and gold IRA account.
In general, there’re a lot more gold and silver products that can be a part of IRA account than there’re platinum (and it’s cousin palladium) products.
Keep reading to learn where to buy genuine platinum bullion.
Which Platinum Coins and Bars aren’t IRA Approved (Examples)?
Common platinum products that don’t qualify for IRAs include:
- Platinum jewelry or collectibles;
- Pre-1997 platinum coins;
- Foreign platinum coins that don’t meet purity standards;
- Platinum bars and rounds from non-accredited manufacturers;
- Any platinum products below .9995 fineness.
- Fake platinum…
IRA-Approved Platinum vs IRA-Approved Palladium- What are the Differences?
IRA-approved platinum and IRA-eligible palladium have many differences.
The main differences are in their density, industrial uses, price volatility, and manufacturing requirements.
Platinum is denser than palladium, has a wider range of industrial uses (including for pacemakers), and its price is generally less volatile than palladium’s.
Palladium is less dense, is more scratch-resistant, and is more heavily influenced by the automotive industry’s demand for catalytic converters.
Both platinum and palladium bars and coins that’s IRA approved cost way more than IRA-approved gold and silver.
It’s because the spot prices of both platinum and palladium is higher the ones for gold and silver.
Where to Buy IRA-Eligible Platinum to Include as Part of Your IRA Account?
The best place to buy IRA-eligible platinum is Augusta Precious Metals. They’re a safe US gold investment company that sells both IRA-approved and regular platinum products (coins and bars).
You can get their free gold IRA kit here.
And you won’t be under obligation to buy their gold and silver.
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What is IRA-Approved Platinum? What Does it Mean and Which Platinum Bars and Coins are Eligible? (Conclusion)?
IRA-approved platinum is platinum bullion that meets the IRS’s minimum requirements to be held in an Individual Retirement Account (IRA).
IRA-eligible platinum bullion must be accredited by either a national government mint or other government-sponsored organization. It must also be exceedingly pure, and come in the form of coins, bars or ingots.
Have questions?
Shoot them in the comment section below. Remember to talk to your financial advisor before you invest a part of your retirement savings in platinum or any other precious metal.
References:
- Platinum IRA-Eligible Coins- https://www.birchgold.com/precious-metals/platinum/ira-approved/
- What are Platinum IRAs?- https://learn.apmex.com/investing-guide/what-are-platinum-iras/
- What Kinds of Platinum Coins and Bars Are IRA-Eligible Platinum?- https://www.usmoneyreserve.com/news/executive-insights/what-is-ira-eligible-platinum/
- Platinum IRA: Can I Put Platinum in My IRA?- https://www.birchgold.com/precious-metals-ira/platinum-ira/
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.
