Investors are known for investing in silver and gold in their IRA accounts, but not many are known to try platinum. Those who have thought about it have heard about platinum IRA and it refers to an independent IRA comprising of platinum bars and coins.
Platinum IRA demystified
In 1997 the Taxpayer Relief Act was passed and certain platinum bullion and coins were allowed to form a part of self-directed IRA. The fineness of platinum coins had to be a minimum of .9995 and above. You will also find less known platinum coins other countries might have created and you can check them out for eligibility. A platinum bar falls between 1 oz and 100 oz in terms of size. In this case Canadian and American government minted coins are the most popular. Platinum bullion on the other hand has to be certified by a refiner or assayer.
Accepted platinum IRA coins and bars
Those interested in platinum IRA have a number of platinum coins to deal with. One of these is the American Eagle platinum coin issued around 1997 for the first time. It is the only U.S. government’s investment-grade coin made of platinum. Apart from being IRS approved, the coins are 100 percent accepted to be in an IRA.
Suisse Pamp platinum
Most seasoned investors know Pamp as one of the best precious metal refiners. Pamp platinum bars also happen to be liked for their finest quality and also accepted to be added in a self-directed IRA.
Why a platinum IRA and not any other
You will find precious metals as wonderful ways of diversifying an investment and taking your retirement income a notch higher. In recent times, many have realized and agreed the stock market is very volatile. Thus, most seasoned investors seek safer investment havens such as platinum, silver and gold to cushion their assets. Over the last decade, platinum track record has been one to talk home about and it is the belief of many economists, this is not going to change.
If you are still thinking about widening your portfolio, think about platinum. Diversifying every part of your assets is very proper and will have a significant contribution to a comfortable and long lasting retirement.
If you are thinking about self directed platinum IRA, know opening a new account is very easy. The American bullion’s platinum IRA also comes with a number of benefits. For example, you can have a part of your old 401k or existing IRA transferred from your former employer into a Platinum, silver or gold IRA. If you are rolling over with the American Bullion, you will neither be charged any tax nor is it a cumbersome process. Also, most companies will do every bit of paperwork on your behalf up to the end while it is possible to set up a platinum IRA account on the internet. Precious metal specialists are always on hold to answer and help with any reservation you might have.
The world is always focusing on the next huge thing and platinum IRA has been confidently rising and there is no reason not to try it out.
Mark is a financial advisor who occasionally writes articles on his blog. He recently wrote an article on how investing in Gold IRA could be beneficial for the individual who wants a safe investment. He recommends reading gold IRA reviews before actually investing.