Platinum Coins Permitted In Your Precious Metals IRA
Platinum is not one of the two most popular choices for Precious Metals IRAs as are gold and silver, yet its popularity has grown over the years since the IRS began allowing platinum coins in these types of IRAs. These coins are actually rarer than their gold counterparts for several good reasons. For starters, fewer of them were struck in most every case, giving the platinum bullion coins some collectibility features. Besides this, platinum as a metal is actually far rarer than gold and has more industrial uses and demands than gold does hands down. Platinum has also at times traded at a higher price per troy ounce than the yellow metal. For all of these reasons along with their stunning beauty, these platinum bullion coins and bars are all worth considering for any well-diversified precious metals IRA.
American Eagle Platinum Coins
The highest status coin in the American Eagles lineup and the U.S. bullion coin lineup in general is the Platinum Eagle. This coin is made with .9995 purity, and it is offered by the U.S. Mint in $10 one-tenth ounce sizes, $25 one-quarter ounce models, $50 half ounce versions, and the standard $100 one ounce size with which more investors are familiar. This one ounce primary size and its $100 face value model represent the largest face value ever showcased by the U.S. Mint on any of its coins in its history.
Canadian Maple Leaf Platinum Coins
Canadian Platinum Maple Leafs have been produced by the Canadian mint alongside its gold and silver variants for years now. Despite this, it is somewhat difficult to find these coins for investment purposes. Investors who are serious about platinum know and appreciate this coin. Thanks to its striking design, it is always in hot demand where any Precious Metals Platinum IRA is concerned.
Austrian Philharmonic Platinum Coins
The Austrian mint made history for itself when it struck these very popular and lovely platinum bullion coins. The Austrian Philharmonic Platinum edition represents the first time in all 800 years of the mint’s history that it created coins in platinum. This issue’s platinum content of one ounce comes with 999.5 pure platinum. The same award-winning design that made its gold and silver versions famous graces the surface of this platinum gem. Weighing in with a tremendous face value of 100 Euros like the gold edition, these have the highest intrinsic value of any bullion coins anywhere. This helps to explain their enduring popularity in platinum, as well as gold editions.
Australian Koala Platinum Coins
It is a little known fact in the history of bullion coinage that the Australian Perth Mint began the tradition of striking one ounce platinum coins when it did this for the very first time in September of 1988. Shortly after the greater than expected success of this Australian Koala Platinum coin, the other major bullion producing nations of the world followed suit in the U.S., Canada, and Austria. From the very moment it appeared in its first year, this platinum Koala has been a mainstay of the platinum bullion investment world ever since. Eye-catching even in the pictures, these stunning coins are made with .9995 fineness of platinum. They are offered in a number of different sizes, including one-tenth ounce, one-quarter ounce, one-half ounce, one ounce, two ounces, 10 ounces, and even an impressive 1 kg version. Each of these coins is legal tender in Australia.
Platinum Bars Permitted In Your Precious Metals IRA
Various Rounds and Bars .9995
Platinum Coins Not Permitted In Your Precious Metals IRA
Even though there are not that many to choose from in the first place, the IRS does not approve a number of platinum coins for inclusion in your Precious Metals IRA. There are two main criteria that they use to restrict coins from the approved list. The coins must be primarily bullion and not mainly collectible. They must also meet a minimum purity requirements standard. For platinum coins, this purity requirement is minimally .9995 fineness platinum.
Australian Platinum Platypus Coins
Australia’s exciting addition to the world of platinum coins is the Platinum Platypus. The Perth Mint started producing this interesting and unique coin back in 2011. They struck only 30,000 coins, helping to explain why they are considered to be rare and collectible according to the standards of the IRS in approving coins for Precious Metals IRAs. As with other Perth Mint products, the Australian Platinum Platypus boasts a $100 Australian Dollars face value and legal tender. The back of this attractive coin displays an underwater swimming version of the native Australian Platypus, while the front side has the standard Australian picture of Queen Elizabeth II of Britain, Australia, and more than a dozen other nations. Despite the relative rarity of these coins, they still only trade at a small premium to the spot value of the platinum which they contain.