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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 (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 deposit into a platinum IRA is the American Platinum Eagle coin, being the official platinum coin of the U.S.
| Precious Metals | Purity Standard |
|---|---|
| Gold | .995 purity or higher |
| Silver | .999 purity or higher |
| Platinum | .9995 purity or higher |
| Palladium | .9995 purity or higher |
Platinum isn’t the only IRA-eligible precious metal. There’s also IRA-eligible gold, IRA eligible silver and IRA eligible palladium.
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 are more coins and bars you can include in your 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.
Note: keep reading to learn where to buy genuine platinum bullion.
Which Platinum Coins and Bars are Not IRA Approved (Examples)?
Common platinum products that typically do NOT 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…
Where to Buy IRA-Eligible Platinum to Include as Part of Your IRA Account?
The best place to buy IRA-eligible platinum is Birch Gold Group. They’re a safe gold investment company from the US that also sells both IRA-approved and regular platinum products (coins and bars).
Note: Augusta Precious Metals is my number #1 gold IRA company in the US. They sell both genuine gold and real silver which you can purchase outside of your IRA account+ IRA-approved gold and IRA-approved silver.
However, Augusta Precious Metals doesn’t sell IRA eligible platinum and palladium.
You can get their free gold IRA kit here.
And you won’t be under obligation to buy their gold and silver.
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. And 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.
