In today’s dynamic financial environment, investors seek opportunities to diversify their portfolios and guard against risk from economic risk. Platinum investing, with its unique properties and limited supply, has gained significant attention as a valuable precious metal. Numerous best platinum investment companies have emerged, offering services from physical platinum ownership to exchange-traded funds (ETFs) and futures contracts. This variety of options allows investors to capitalize on the potential growth of this sought-after commodity.
5 Best Platinum Investment Companies 2023
- Augusta Precious Metals: Editor’s Choice – Great Gold IRA Company Overall (4.9/5)
- Red Rock Secured: Runner up – Best at Home Gold IRA (4.8/5)
- Goldco: Great Buyback Program (4.6/5)
- American Hartford Gold: Best Price for Bullion (4.5/5)
- Birch Gold Corporation: Great Staff Overall (4.2/5)
#1. Augusta Precious Metals: Editor’s Choice – Great Gold IRA Company Overall (4.9/5)
Augusta Precious Metals leads the industry in providing physical gold and silver for IRA accounts. As a recognized PCGS (Professional Coin Grading Service) dealer, they specialize in helping retirement savers diversify their savings with gold and silver. With a minimum investment requirement of $50,000 and an additional storage fee, Augusta Precious Metals caters to those looking to invest more money.
Each customer service representative at Augusta Precious Metals offers specialized attention, ensuring secure storage options for customers who store their metals with the company. Moreover, customers can enjoy competitive pricing on gold and silver coins and bars.
Augusta Precious Metals is an exceptional option for individuals seeking to diversify their retirement savings with gold, silver, and platinum investments. Their competitive prices, secure storage options, and dedicated customer service representatives make it easy for anyone to start investing in precious metals.
Pros & Cons
Pros
- Better Business Bureau rating of A+
- Partner of Kingdom Trust for a long time, managing assets worth over $12 billion.
- Gold and silver prices are competitive.
- various precious metals, including platinum, silver, and gold
- comprehensive list of collectible coins
- All orders ship for free.
- IRA accounts
- Exceptional assistance
- Free schooling
Cons
- minimal investment of $50,000
- Product prices are not listed on their website.
#2. Red Rock Secured: Runner up – Best at Home Gold IRA (4.8/5)
Red Rock Secured, a privately held company based in Southern California, strives to protect our clients’ retirements. They achieve this by educating them and offering premium services and products that allow them to diversify their retirement savings into physical gold, silver, and platinum.
Their clients receive the necessary information and resources to understand the advantages of investing in precious metals and make informed investment decisions. Their expert team remains dedicated to providing top-notch service and advice to their clients.
Red Rock Secured recognizes your desire for a worry-free retirement. Achieving this requires safeguarding your retirement savings. However, traditional investments can be volatile and unpredictable, making future planning challenging. That’s why we offer a unique solution: converting your money into physical gold, silver, and platinum to ensure a worry-free retirement. By diversifying your portfolio with these precious metals, you can shield your hard-earned savings from market fluctuations and inflation.
Pros & Cons
Pros
- Precious metal IRAs are available to most customers at no cost.
- Every order comes with free shipping and insurance.
- Available for eligible gold and silver purchases is the Price Protection Plan.
- a Buyback Program is available.
- A 7-day cancellation period is offered after the date of the first transaction.
- Red Rock Secured requires $10,000 to open an IRA.
Cons
- There is no pricing information available online.
- There is no online information about eligibility for no fees and Red Rock Secured price protection.
- Purchases cannot be made online.
#3. Goldco: Runner up – Great Buyback Program (4.8/5)
Goldco specializes in wealth and asset preservation. It uses its expertise to help customers transfer assets from tax-advantaged retirement accounts like IRAs, 401(k)s, or 403(b)s to a precious metals IRA. They also sell gold, silver, and platinum directly to customers.
With Goldco, customers can open an IRA in gold, silver, and platinum, funding it with various coins. Opening a Gold IRA is quick and straightforward. Customers initiate the process by completing a contract on their website. A representative assists them with the process and explains the service terms.
Funding the IRA is possible by transferring funds from an active 401(k) or another qualifying account. Goldco helps customers open new precious metals IRA accounts. Typically, there are no tax penalties for rolling over gold IRAs. Customers then choose the gold, silver, or platinum to purchase with their funds, which can be shipped to a preferred depository or delivered directly to their homes. Some investors may even be eligible for accessible storage.
Pros & Cons
Pros
- First-year membership fee waived.
- Buyback offers with high prices.
- 15+ years of precious metals IRA rollover experience
- Account setup is streamlined.
- Expert assistance is available at all times.
- Capability to diversify your accounts
- Multiple devices provide easy access to your account and support.
- A BBB-accredited business
- Free retirement resources and new client bonuses
Cons
- For IRAs, a $25,000 minimum investment is needed.
- Storage costs might be better.
#4. American Hartford Gold: Best Price for Bullion (4.5/5)
American Hartford Gold is a trustworthy leader in the precious metals industry. With an A+ ranking from the Better Business Bureau and thousands of satisfied clients, it’s no wonder why American Hartford Gold is one of the most popular precious metals dealers in America.
The company offers customers the opportunity to invest in gold, silver, platinum coins, and other precious metals through Individual Retirement Accounts (IRAs). They also provide various services to help customers set up their accounts, such as portfolio management and asset protection.
Customers have had positive experiences with American Hartford Gold, citing their helpful customer service and competitive prices. The company has received numerous reviews praising its reliability and trustworthiness. With the option to invest in platinum, American Hartford Gold provides a well-rounded and diverse opportunity for investment for those looking to safeguard their financial future.
Pros & Cons
Pros
- Consultations with knowledgeable company representatives are provided for free.
- A trustworthy company that values compliance, integrity, and customer service
- Promotions for fee waivers, price matching, and transparent cost disclosures before sale completion
- Buyback guarantee with no extra fees for selling precious physical metals
- Endorsements from Rick Harrison, Bill O’Reilly, and other well-known individuals
- The company website has extensive information about gold, silver, and other precious metals.
Cons
- There are no product prices listed on the website.
- There’s no shipping outside the U.S.
#5. Birch Gold Group: Great Staff overall (4.5/5)
Birch Gold Group is a leading national dealer of precious metals in the United States. Birch Gold Group has been in the industry for over a decade. It specializes in helping customers diversify their savings with physical gold, silver, and platinum. They provide two investment options: self-directed IRAs and precious metal purchases.
Birch Gold Group has earned an A+ rating from the Better Business Bureau (BBB), a AAA rating from the Business Consumer Alliance, and thousands of satisfied customers. Their team of professionals is committed to offering customers reliable advice and top-notch customer service.
As a testament to their expertise, they have been recognized for their Best Platinum Investment offerings, making them a trusted choice for those looking to invest in precious metals.
Pros & Cons
Pros:
- Dedicated professional
- Low starting point
- Fees are slightly lower.
Cons:
- The pricing is not transparent.
- There is no buyback guarantee.
What is a Platinum IRA?
A Platinum IRA, a self-directed IRA, allows investors to allocate their retirement funds into physical platinum coins and bars. This alternative enables savers to diversify their portfolios beyond stocks, bonds, and mutual funds. Investors confident in platinum’s long-term potential can capitalize on this belief through a Platinum IRA.
What is a Platinum IRA Rollover?
“Platinum IRA Rollover” describes transferring your retirement funds into a new, self-directed IRA with platinum as the primary holding. This rollover lets you include precious metals like gold, silver, and platinum in your retirement portfolio. A Platinum IRA Rollover maintains the tax benefits of an IRA while offering potential growth and stability through platinum and palladium investments.
When considering converting your retirement account into a Platinum IRA, carefully evaluating all options is crucial. Research various precious metal IRA custodians, compare their services and fees and choose the best one for your needs. Remember how holding precious metals in your IRA impacts your taxes.
Platinum IRA Rules
Investors looking to save for their golden years can store physical platinum in a platinum IRA, a unique self-directed Individual Retirement Account (IRA). Platinum IRAs adhere to the same rules and regulations as IRAs containing other precious metals. When considering contributing to a platinum Individual Retirement Account, follow these guidelines.
- Eligible Platinum: The Internal Revenue Service (IRS) sets specific purity standards for platinum in IRAs. Not all platinum products meet these criteria. Eligible platinum must have a minimum purity of .9995 (99.95% pure platinum). Some popular eligible platinum coins and bars include the American Platinum Eagle, Canadian Platinum Maple Leaf, and various platinum bars from approved mints and refiners.
- Establish a Self-Directed IRA: To invest in a platinum IRA, set up a self-directed IRA account through a qualified custodian. This type of IRA allows for more diverse investments, including precious metals like platinum. Ensure you choose a custodian experienced in managing precious metals IRAs.
- IRA Contribution Limits: Platinum IRAs follow the same annual contribution limits as traditional and Roth IRAs. The top contribution ceiling for 2021 is annually, or $7,000 if you’re over 50.
- Storage Requirements: An IRS-approved depository must store platinum held in an IRA. You cannot take physical possession of the platinum; a third-party storage facility meeting the IRS’s strict security, insurance, and record-keeping guidelines must hold it.
- Taxes and Penalties: Platinum IRAs follow the same tax rules as traditional IRAs. Contributions to a platinum IRA may be tax-deductible, depending on your income and other factors. After the age of 59½, withdrawals are subject to ordinary income tax. Early withdrawals made before age 59½ may incur a 10% penalty in addition to applicable income taxes.
- Required Minimum Distributions (RMDs): You must start taking required minimum distributions from your platinum IRA once you turn 72, just like you must with traditional IRAs. The RMD amount depends on your account balance and life expectancy. Failing to take the RMD could result in significant tax penalties.
- Liquidation: When you need to take a distribution or withdrawal from your platinum IRA, sell the platinum and withdraw the cash proceeds. Your custodian will facilitate the sale of the platinum and ensure the proceeds are deposited into your account.
Familiarize yourself with these rules and work with an experienced custodian when investing in a platinum IRA. It will help ensure your investment remains compliant with IRS regulations and allows your retirement savings to grow tax-deferred.
Overview: Platinum Stocks
Platinum stocks refer to the shares of companies involved in the exploration, mining, production, and sale of platinum, a precious metal with various industrial applications. Investing in platinum stocks can offer exposure to the metal’s price movements and the performance of individual companies operating within the sector.
Key Points:
- Market Demand: Platinum is used in various industries such as automotive (catalytic converters), electronics, jewelry, and dental work. Global economic growth, technological advancements, and the performance of these industries heavily influence demand.
- Diversification: Investing in platinum stocks can help diversify an investment portfolio, as it may only sometimes correlate with other asset classes like equities or bonds.
- Volatility: Platinum prices can be quite volatile due to geopolitical tensions, labor disputes, and supply and demand dynamics changes. This volatility can impact the performance of platinum stocks.
- ETFs and ETNs: Investors can gain exposure to platinum stocks through exchange-traded funds (ETFs) or exchange-traded notes (ETNs) that track the performance of a basket of platinum-related companies or the metal itself.
- Risks: Investing in platinum stocks comes with various risks, including market risk, liquidity risk, and operational risk (e.g., mining accidents, labor strikes). Additionally, geopolitical risks are higher for companies operating in regions with political instability or regulatory uncertainty.
Platinum stocks can expose investors to the precious metals market and act as a hedge against inflation. However, investors should consider the risks and investment objectives before venturing into this sector.
Features to Look for in a Platinum Stock
Several factors are crucial when investing in platinum stocks. First, examine the financial state of the business. By analyzing their balance sheet and income statement, ensure they are capable and financially stable before you pay dividends. Consider the company’s leadership and past performance.
Another vital aspect is the company’s production capacity. Confirm that they possess the necessary resources to meet customer demands. Reflect on the proportion of their products dedicated to creating products containing platinum.
Lastly, take into account the company’s history of market performance. Assess both historical trends and the current market situation. Doing so will help you comprehend the company’s previous success and anticipate whether it will maintain its success in the future.
Are Platinum Stocks Good Investments?
Investing in platinum stocks can diversify an investor’s portfolio beyond stocks and bonds. These stocks may appreciate over time and provide dividends or other forms of income. However, investing in platinum stocks also involves risks such as price volatility and limited liquidity. Do your research before purchasing any stock, including those related to platinum.
The present economic climate and the future outlook for the precious metals market are crucial factors when determining whether to invest in platinum stocks. When evaluating investment opportunities, consider a company’s financials and the costs of acquiring platinum stocks to ensure they align with your investment strategy.
Investing in platinum stocks allows you to spread your risk and increase your returns through dividends and price appreciation. Investments can assist you in reaching your financial objectives. Still, it’s essential to take the time to gather as much information about them beforehand as possible.
Frequently Asked Questions
Why Should I Consider Investing in Platinum?
Platinum’s rarity, industrial applications, and status as a precious metal make it appealing to investors. It is frequently regarded as a safe-haven investment during economic uncertainty and may help diversify your investment portfolio.
How Does Platinum Compare to Other Precious Metals Like Gold and Silver?
Platinum is more valuable than gold and silver because it is rarer. However, due to its industrial applications and limited supply, its price can be more volatile. When the global economy is expanding and demand for automobiles, particularly those with catalytic converters, is high, platinum performs well.
How Do I Choose the Best Platinum Investment Option for Me?
Your investment objectives, risk tolerance, and preferred investment method will influence your decision. Consider purchasing physical platinum to gain direct exposure to the metal. Consider investing in platinum stocks or ETFs for a more diversified approach. Consider platinum futures contracts if you have trading experience and are looking for a short-term investment.
What Are the Distinction Ways to Invest in Platinum?
Platinum can be purchased in a variety of ways:
- Physical platinum: Purchase bars or coins from reputable dealers and store them securely.
- Platinum stocks: Invest in platinum mining, refining, or production companies.
- Exchange-traded funds (ETFs): Buy shares in an ETF that tracks the price of platinum or holds platinum-related assets.
- Futures contracts: Speculate on the future price of platinum by trading futures contracts on commodities exchanges.
Final Thought – Best Platinum Investment Companies
Platinum Investment Companies offer various options for investors looking to diversify their portfolios. There is something for everyone, from global investment firms like Platinum Equity to specialized services such as Platinum Investments and Platinum Asset Management. Each company offers unique benefits and services to help investors reach their financial goals.
In addition to these companies, several reputable precious metal investment firms specialize in gold, silver, and platinum, such as Augusta Precious Metals, Red Rock Secured, Goldco, American Hartford Gold, and Birch Gold Corporation. These companies provide services, including precious metal IRAs, direct purchases of coins and bars, and assistance with rollovers from traditional retirement accounts.
By offering valuable resources, excellent customer service, and a commitment to transparency, these companies can assist investors in making wise investment decisions in precious metals.
Investors can benefit from thorough research and due diligence to find the best Platinum Investment Company or precious metal investment firm to meet their needs and diversify their portfolios.