A Platinum IRA is an excellent way to diversify your retirement portfolio while protecting your assets from inflation. You can invest in genuine platinum coins or bars, exchange-traded funds (ETFs), and other assets with the help of one of the Best Platinum IRA Companies. The best Platinum IRA providers include reasonable rates, secure storage options, and skilled customer support. You can decide on the best suitable for you by investigating each company’s offerings and comparing their pricing.
5 Best Platinum IRA Companies of 2023 At A Glance
- 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, an industry leader providing physical gold and silver for IRA accounts, was founded in Casper, Wyoming. As an authorized dealer recognized by the Professional Coin Grading Service (PCGS), they assist individuals in opening silver and gold IRAs to diversify their investment portfolios, requiring a minimum investment of $50,000.
Joe Montana’s financial team was tasked with finding the best gold business in the United States, and they discovered Augusta Precious Metals. The company has garnered positive customer reviews. Forbes recommends that individuals add physical gold or silver to their retirement portfolios.
Accredited by the Better Business Bureau, Augusta Precious Metals is open to anyone purchasing gold or silver. They have established themselves as a leading advocate for incorporating physical gold and silver IRAs into retirement portfolios.
Augusta Precious Metals provides exceptional services and support for investors seeking to diversify their retirement portfolios with precious metals like platinum.
Pros & Cons
- a private online meeting
- Their website has instructional content in the form of videos.
- Customer service that lasts a lifetime
- Minimum order of $50,000
- Online fee details need to be more attainable.
#2. Red Rock Secured: Runner up – Best at Home Gold IRA (4.8/5)
In Southern California, Red Rock Secured is a privately-owned company dedicated to safeguarding clients’ retirements through education and premium services. They provide Gold IRAs, Precious Metals Backed 401ks, and other retirement services.
Red Rock Secured has gained media coverage for its devotion to helping people secure their hard-earned retirement savings. However, in 2020, the Securities and Exchange Commission (SEC) charged the company and three executives with fraud targeting retirement accounts.
Actively sharing information about their products and services online on sites like Facebook and LinkedIn, Red Rock Secured also maintains a YouTube channel where they upload videos on protecting retirement savings. Trustpilot and Birdeye feature customer reviews of Red Rock, Secured understanding of the importance of worry-free retirement savings,
Red Rock Secured offers various services to preserve your money for the future. Converting your funds into physical gold or silver lets you enjoy a worry-free retirement.
Red Rock Secured offer exceptional services and support for investors seeking to invest in platinum IRAs and diversify their retirement portfolios with precious metals.
Pros & Cons
- Most clients do not have to pay fees for their precious metal IRA.
- Every order comes with free shipping and insurance.
- Gold and silver can be bought with a price guarantee.
- They offered options to buy back.
- After the date of the initial transaction, there is a 7-day cancellation period.
To open an IRA with Red Rock Secured, you must invest at least $10,000.
- There is no pricing information available online.
- There is no online information about eligibility for no fees and Red Rock Secured price protection.
- Online purchases are not possible. To purchase, you must speak with a representative.
#3. Goldco: Great BuybackBuyback Program (4.6/5)
Goldco, a leading precious metals company based in Los Angeles, California, was founded in 2011. The company specializes in gold and silver investments and has earned an A+ ranking from the Better Business Bureau and a Triple-A ranking from the Business Consumer Alliance.
Goldco offers customers various services, including transferring funds from existing 401(k)s or IRAs into gold and silver investments, setting up new precious metals IRA accounts, buying physical gold and silver coins, and more.
Additionally, Goldco provides customers with access to expert advice on investing in precious metals. The company’s experienced professionals can help clients select suitable investment options. Goldco reviews have been overwhelmingly positive, with customers praising the company’s customer service, competitive pricing, and knowledgeable staff.
Regarding the best Platinum IRA options, Goldco stands out as a top choice for investors looking to include precious metals in diversifying their retirement portfolios like platinum. Their comprehensive services, expertise, and exceptional customer support make them an ideal partner for investing in platinum IRAs.
Pros & Cons
- Exceptional rating of A+/BBB
- A Trustpilot average of 4.8
- Their website has educational resources.
- More cost information should be provided on the site.
- The preferred starting amount for a gold IRA is $25,000
#4. American Hartford Gold: Best Price for Bullion (4.5/5)
American Hartford Gold is a leading precious metals merchant in the US. The company has continued as a reliable leader in the sector thanks to its A+ Better Business Bureau ranking and thousands of satisfied customers. Investors can choose from various gold coins and bars and IRA-eligible investments that can aid clients in diversifying their portfolios.
The family-run business, based in Los Angeles, California, offers personalized customer service to each client. American Hartford Gold is an attractive option for those looking to invest in gold, precious metals, or platinum IRAs due to their affordable prices on goods and services.
In addition to its products and services, American Hartford Gold provides resources such as reviews and complaints to help clients make informed investment decisions. Many clients who have utilized their services have given them positive feedback, often citing their friendly customer service team as one of the critical factors in choosing American Hartford Gold for their platinum IRA investments.
Pros & Cons
- great review metrics
- The company offers educational resources and experts on staff to help you better understand the gold IRA landscape.
- All fees are made clear before a purchase is finalized.
- Helping customers and following regulations are top concerns.
- There is no price list for non-IRA purchases.
- Shipping this item to a country other than the United States is impossible.
#5. Birch Gold Corporation: Great Staff Overall (4.2/5)
Birch Gold Corporation, a leading national precious metals dealer, offers a wide selection of gold, silver, and platinum. Established in 2003 with main offices in Burbank, CA, the company focuses on precious metal IRAs, allowing clients to diversify their savings with real gold, silver, and platinum.
Birch Gold Group provides two ways to purchase actual precious metals: as part of a Precious Metals IRA or as a cash purchase for physical delivery. Monday through Friday, their customer service team between 6 a.m. to 5:30 p.m. PST to answer any questions about buying precious metals, including platinum IRAs.
Ben Shapiro, host of the Ben Shapiro Show and editor-in-chief of The Daily Wire, has endorsed the business. The Better Business Bureau has commended them for their dedication to client satisfaction and customer service for their dedication to customer satisfaction and service
has awarded Birch Gold Group an A+ rating.
With over 114 reviews on Consumer Affairs, Birch Gold Group has received an overall rating for the quality of its services. Customers praise the company for its knowledgeable staff and competitive prices, making it an excellent choice for those looking to invest in a platinum IRA.
Pros & Cons
- Cooperates with Independent Depositories
- Several options for platinum and palladium
- Spend a minimum of $10,000
- Slow clearing time for transactions
- Not for regular customers.
- Oly for American investors.
What is a Platinum IRA?
Platinum Individual Retirement Accounts (IRAs) are self-directed retirement plans that enable investors to incorporate platinum coins and bars into their retirement portfolios. Platinum’s historical prices and buying opportunities make it a popular choice for traditional and IRA investment strategies.
The items must be at least .9995 pure platinum when investing in a Platinum IRA. Platinum coins should originate from sovereign mints, while platinum bars must meet the London Bullion Market Association’s (LBMA) standards.
In addition to platinum, IRAs can invest in gold, silver, palladium, and other precious metals. You can store these investments either at home or in a secure facility.
Platinum IRAs allow individuals to diversify their retirement portfolios using one of Earth’s rarest and most valuable metals.
Benefits of Platinum IRAs?
Platinum, being rarer than gold, can help diversify your retirement portfolio. Platinum IRAs provide tax benefits, security, competitive fees, diversification, and retirement income.
Investing in a self-directed IRA allows you to enjoy tax-deferred growth and the stability of precious metals like platinum.
Regarding security, platinum acts as a hedge against economic downturns and inflation. It can protect your investments from stock market declines and inflationary pressures.
With competitive fees, Platinum IRAs allow for diversification and tax benefits without overpaying. Diversifying your portfolio with platinum across various asset classes helps reduce risk.
Lastly, a Platinum IRA can enhance your retirement income. Investing in physical precious metals like platinum can build up your retirement savings and achieve greater financial security.
Platinum IRA can assist retirees in diversifying their portfolios, growing their investments tax-deferred, and safeguarding against economic downturns and inflation.
A Platinum IRA Enables Asset Diversification in Physical Precious Metals
A Platinum IRA is an excellent way to include precious physical metals in your retirement portfolio. You can invest in platinum coins, bars, and other approved precious metals like gold, silver, and palladium through a self-directed IRA. This type of investment enables you to diversify your assets while protecting yourself against inflation.
Historically, platinum has been an attractive option for both traditional and IRA investment strategies due to its historical prices and buying opportunities. It’s essential to note that the items purchased for a Platinum IRA must meet specific criteria, such as being 99.95% platinum. Sovereign mints should mint coins, while LBMA-approved refiners should produce bars.
When investing in precious metals, conducting thorough research is crucial to decide which metal is best suited for you. A Platinum IRA can be an excellent choice for those seeking to diversify their retirement portfolio with tangible precious metals.
Aside From Diversification, a Platinum IRA Offers Opportunities.
Investing in platinum coins and bars through a self-directed IRA can diversify your retirement portfolio. Due to its long history as a currency, platinum’s value has consistently increased. With historically low prices, platinum makes an excellent retirement investment.
A Platinum IRA allows investors to benefit from potential growth without worrying about storage or security. These IRAs are backed by physical assets stored in an approved depository, providing peace of mind. Additionally, self-directed IRAs offer tax advantages.
Before investing in a Platinum IRA, understand the allowed products. Only .9995 pure platinum coins and bars are permitted. Sovereign mints must produce coins, while LBMA-approved refiners and manufacturers must produce bars.
Remember that you could run into caps on the platinum you can purchase and how often you can invest. Consult with your financial advisor or custodian about these rules before investing in a Platinum IRA.
A Platinum IRA Provides Safety
A Platinum IRA is an excellent method to diversify your retirement portfolio and safeguard your investments. This type of IRA permits you to invest in IRS-approved physical platinum coins and bars for inclusion in an Individual Retirement Account (IRA).
Because it is reliable and has room to expand, platinum has historically been a popular choice for traditional and IRA investment strategies. It is also renowned for being a reliable inflation hedge, making it an attractive option for those aiming to protect their retirement savings from market volatility.
Platinum Metal IRA Offers a Level of Control Not Found in Any Other Retirement Solution
Platinum metal IRAs offer unmatched control and flexibility compared to other retirement solutions. A Platinum IRA allows you to invest in platinum coins and bars, enabling you to diversify your portfolio with one of the most valuable precious metals.
Unlike traditional IRAs, Platinum IRAs are self-directed, meaning account holders have unrestricted access to all their investments. This feature allows investors to base their decisions on their research and analysis rather than relying solely on the advice of financial advisors or other professionals. Moreover, Platinum IRAs qualify for tax advantages, such as deferring taxes until retirement or benefiting from tax-free growth potential.
Investing in platinum also shields investors from inflation and market volatility. Even during downturns in other markets, the value of platinum tends to remain stable, offering a viable choice for those worried about the security of their retirement savings from economic uncertainty.
Is Platinum IRA Good for Retirement Investment?
Historically, platinum has proven profitable, making it a popular choice for retirement investment strategies. A Platinum IRA is a self-directed individual retirement account that allows you to invest in IRS-approved platinum coins and bars. This retirement account grants you complete control over your investments, enabling you to select which assets to include.
The products you purchase and allocate toward a Platinum IRA must contain at least .9995 pure platinum. Sovereign mints must produce coins, while authorized refiners or assayers must produce bars. The coins and bars must have also been manufactured within the last three years, and they cannot be considered rare or collectible.
Investing in platinum can help diversify your portfolio because its price is less correlated with other precious metals like gold and silver. It also offers tax benefits, as all profits from platinum sales are exempt from capital gains taxes when held in an IRA account.
How Much of Your IRA Should Include Platinum?
Although platinum is less common than gold or silver, it remains a precious metal that can be included in an IRA. Many investors may need to learn they can add platinum and other metals to their IRA. This option provides a great chance to diversify your retirement portfolio while potentially increasing your returns.
When determining the portion of your IRA to allocate to platinum, it’s crucial to understand the rules and regulations governing this type of investment. All individuals, as per the Internal Revenue Service (IRS),
precious metals in an IRA must meet specific purity levels. Consequently, platinum must possess a minimum fineness of .9995 pure platinum. Sovereign mints must produce platinum coins, while approved refiners and assayers must produce bars.
How to Open a Platinum IRA
A Platinum IRA might be the perfect solution for you. With a Platinum IRA, you can save for retirement while diversifying your portfolio with precious metals.
Opening a Platinum IRA is straightforward. A custodian account or administrator specializing in precious metal investments must first be established. Fund your account through a transfer, rollover, or annual IRA contributions. You can purchase funding for your account IRS-approved platinum coins and bars.
Select a Self-Directed IRA Custodian
Currently, no IRA companies on the market can handle precious metal IRAs. Only self-directed IRA custodians have permission to manage your IRA. You can use a bank, an equity trust company, or any other IRS-approved institution.
Their range of services is extensive, but remember that the custodian’s primary responsibility is to invest in assets on your behalf.
You need to select the self-directed IRA custodian with the most confidence. Additionally, be mindful of any fees associated with maintaining the IRA.
Choose a Platinum Dealer
Platinum Dealer Solutions is the perfect choice for those seeking a reliable and experienced Platinum Dealer. With over 300 years of combined automotive experience, you can rely on their staff to locate the best warranty assurance and protection services and real-time connected inventory management solutions.
Choose a Depository
Finding a secure and trustworthy depository for storing your platinum is crucial. Numerous options exist, including state-run bullion depositories and private companies offering secure storage programs.
Delaware Depository, a privately-owned precious metals custody and distribution center, also provides bullion storage services for gold, silver, platinum, and palladium.
Complete the Transaction
The final step involves completing the order once everything is set up. The custodian, IRA company, and depository service will manage the rest of your accounts and assets. All that is required is regular monitoring of the value of your orders, and you never know when you might need to retrieve them from the vault.
How Could You Make a Withdrawal from a Precious Metals IRA?
Specific rules and regulations must be followed when withdrawing from a Platinum IRA. Generally, withdrawals from an IRA before 59 1/2 are subject to an IRS penalty of 10%. Additionally, withdrawals from Roth IRAs must occur after a five-year holding period. If the account holder lives to be 72 years old, traditional IRAs may also require annual required minimum distributions (RMDs).
Remember that you can always withdraw contributions, regardless of age, without incurring taxes or penalties. Moreover, any gains made on precious metals result in a 10% penalty on IRA tax penalty if withdrawn early. In summary, when withdrawing from a Platinum IRA, it is crucial to understand the IRS rules and regulations to avoid any penalties or fees.
Frequently Asked Question
Are There Reputable Platinum IRA Companies?
Yes, there are numerous excellent Platinum IRA providers. Augusta Precious Metals has a 4.9/5 rating and a buyback program, making it one of the best Platinum IRA companies. They also provide service transparency. Augusta Precious Metals, Red Rock Secured, Goldco, American Hartford Gold, and Birch Gold Corporation are other popular choices.
What Types of Metals Can I Invest in Through a Platinum IRA?
Investing options include gold, silver, platinum, palladium, coins, or bullion, with most Platinum IRAs. However, some companies may only offer certain metals or require you to obtain them from a third party.
Are There Risks That Are Involved With Investing in a Platinum IRA?
Yes, risks are associated with investing in a Platinum IRA, just as with any other investment. Market volatility, inflation risk, liquidity risk (the inability to easily convert your assets into cash), storage costs (if you choose to store your metals physically), and counterparty risk (the risk that the company managing your account will not fulfill its obligations) are all examples of these. Before making an investment decision, conducting extensive research on any company is critical.
Final Thought – Best Platinum IRA Companies
When it comes to investing in a Platinum IRA, there are many options available. The best Platinum IRA companies offer competitive pricing, investor-direct pricing, and products to enhance retirement savings strategies. Comparing and researching the different companies before deciding. Additionally, diversifying your portfolio by investing in physical platinum, palladium, silver, and other priceless metals can add a less volatile asset class that can help protect against market downturns.
Some of the top Platinum IRA companies include Augusta Precious Metals, Red Rock Secured, Goldco, American Hartford Gold, and Birch Gold Corporation.
By considering these reputable companies, you can choose the appropriate fit for your investment requirements and confidently diversify your retirement portfolio with precious metals, including platinum.