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Best Platinum IRA Custodians 101

Finding the right Platinum IRA custodian can make or break you long-term goals.

So, in this article I wanted to break down the setup fees, customer reviews, storage fees, benefits of platinum backed IRAs, and a lot more.

Like all articles on my site, I have also included links to other precious metal IRAs so you can make your most informed decision.

For instance, you may not be fully aware of the factors that impact the price of gold vs the price of platinum or palladium – so I have you covered.

Quick Disclaimer:

The content provided in this article is for informational purposes only and should not be considered financial or investment advice. Always consult with a qualified financial advisor before making any decisions regarding Precious Metals, Investing, or IRAs. Additionally, this article contains affiliate links, and I may earn a commission if you make a purchase through these links, at no additional cost to you.


Another question, I have been asked is, “What Gold IRA companies are the best” or “Which IRA companies are the most trusted?”.

If you’d like more information, below is a link to a comparison PDF by Augusta Precious Metals that could be useful. (It’s also free.)

Augusta Gold IRA Company Integrity Checklist


What is a Platinum IRA?

A Platinum IRA is a type of self-directed Individual Retirement Account (IRA) that allows you to hold physical platinum as part of your retirement portfolio.

Unlike Conventional IRAs that typically consist of stocks, bonds, and mutual funds, a Platinum IRA provides an alternative investment option through physical precious metals such as platinum, offering a unique way to diversify your retirement savings (Noble Gold Investments).

In a Platinum IRA, you purchase and store physical platinum, which is overseen by a custodian.

The custodian ensures that your platinum meets IRS standards and is securely stored in a segregated account, separate from other investors’ assets (Forbes).

This means that with the right custodian, your platinum is kept safe and accounted for, providing you with peace of mind.

Benefits of Platinum in Your IRA

So as you would expect with all different types of precious metal IRAs, each precious metal has its own distinct benefits, but also a few cons.

But, investing in platinum through a Platinum IRA offers several advantages that can enhance your retirement portfolio.

Here are some key benefits, in bulleted list and chart, that we will break down further throughout this article.

  1. Diversification: Adding platinum to your IRA helps diversify your investment portfolio. Unlike traditional assets like stocks and bonds, platinum often behaves differently in the market, providing a hedge against economic downturns and inflation. For more information on diversification, you can visit platinum ira diversification.
  2. Intrinsic Value: Platinum is a rare and valuable metal with intrinsic worth. Its limited supply and high demand in industries such as automotive, jewelry, and electronics contribute to its value. This makes platinum a stable and attractive investment option.
  3. Inflation Protection: Precious metals like platinum are known to retain their value during periods of inflation. By investing in a Platinum IRA, you can protect your retirement savings from the eroding effects of inflation, ensuring your purchasing power remains intact.
  4. Tax Advantages: Similar to other IRAs, Platinum IRAs offer tax advantages. Depending on the type of IRA you choose (Traditional or Roth), you may benefit from tax-deferred growth or tax-free withdrawals in retirement. To learn more about the tax benefits, check out platinum ira tax advantages.
  5. Security: Your platinum is stored in a secure facility by your custodian, ensuring its safety and authenticity. These custodians follow strict security measures, including segregated storage, to protect your investment. For details on storage options, visit platinum ira storage options.
BenefitDescription
DiversificationAdds variety to your investment portfolio, reducing risk.
Intrinsic ValuePlatinum’s rarity and demand in various industries contribute to its stable value.
Inflation ProtectionMaintains value during inflation, preserving your purchasing power.
Tax AdvantagesOffers tax-deferred growth or tax-free withdrawals, depending on the IRA type.
SecuritySecure storage and segregation of your platinum assets by a custodian.

Investing in a Platinum IRA can be a wise decision for those looking to diversify their retirement savings and protect their wealth.

So, ideally by learning the benefits and working with reputable platinum ira custodians, you can make informed investment choices that align with your financial goals.


Another common question I get asked about sales tactics used by Gold IRA companies is about how silver is leveraged and mentioned.

If you want to learn more, below are two free PDFs by Augusta Precious Metals that break down how to check the integrity of an IRA provider as well as information on how Silver is used as a sales tactic.

Augusta Precious Metals Links:

Choosing Your Custodian

So we have established that when it comes to investing in a Platinum IRA, selecting the right custodian is crucial.

In this section let’s walk through the role of IRA custodians and how to find a reputable one – especially for platinum.

Role of IRA Custodians

An IRA custodian plays a vital role in managing your Platinum IRA.

They are responsible for holding and securing your assets, ensuring compliance with IRS regulations, and maintaining fiduciary responsibility.

The custodian must be approved and licensed by the IRS, and they must adhere to strict regulations set forth in the Internal Revenue Code (Gold IRA Guide).

Key responsibilities of an IRA custodian include:

  • Asset Security: Holding your platinum in a secure storage facility.
  • Fiduciary Duty: Acting in your best interest without manipulating or transacting your assets without explicit permission.
  • Compliance: Ensuring that all transactions and holdings comply with federal and state regulations.

Finding a Reputable Custodian

Choosing a reputable custodian is essential to ensure the safety and compliance of your Platinum IRA.

Here are some tips to help you find the right custodian:

  1. Check for IRS Approval: Ensure that the custodian is approved and licensed by the IRS. This guarantees they meet the necessary standards and regulations (Forbes).
  2. Evaluate Security Measures: Look for custodians that provide secure storage options, such as segregated accounts, where your metals are stored separately from other investors’ assets. Explore our article on platinum ira storage options for more information.
  3. Review Fees and Costs: Understand the various fees associated with the custodian, including setup fees, annual fees, and transaction fees. A transparent fee structure is a sign of a reputable custodian. For a detailed breakdown of these fees, check out our section on setup fees.
  4. Research Reputable Sources: Look for reviews and ratings from trusted sources and financial advisors. Our article on platinum ira reviews offers insights into customer experiences and satisfaction.
  5. Verify Compliance: Ensure the custodian complies with all federal and state regulations, including security protocols and capital requirements. This helps protect your investment from potential fraud or mismanagement (Gold IRA Guide).

Here is a comparison table of key factors to consider when choosing a custodian:

FactorDescription
IRS ApprovalConfirm the custodian is IRS-approved and licensed
Security MeasuresEnsure secure storage options, such as segregated accounts
Fees and CostsUnderstand setup fees, annual fees, and transaction fees
Reputable SourcesCheck reviews and ratings from trusted sources
ComplianceVerify adherence to federal and state regulations, including security protocols and capital requirements

For more detailed information on making the investment, explore our guide on platinum ira investment options.

Costs and Fees

When considering a Platinum IRA, it’s crucial to understand the associated costs and fees.

Knowing these will help you make an informed decision about your investment.

This section breaks down the setup fees, annual fees, and transaction fees you can expect when working with platinum IRA custodians.

Setup Fees Explained

Setting up a Platinum IRA involves initial setup fees, which can vary depending on the custodian you choose.

These fees cover the administrative costs of establishing your account.

For instance, RocketDollar offers two membership levels: Silver with a $360 setup fee and Gold with a $600 setup fee (Forbes).

CustodianSetup Fee
RocketDollar Silver$360
RocketDollar Gold$600
Equity Trust Company$50

Annual Fees to Expect

Annual fees are a significant part of maintaining a Platinum IRA.

These fees cover the administrative and custodial services provided by your IRA custodian.

According to Gold IRA Guide, annual fees for self-directed IRA custodian accounts typically range between $200 and $500.

Equity Trust Company, noted for their excellent service, charges fees ranging from $225 to $2,250 per year based on the account value.

CustodianAnnual Fee Range
General Range$200 – $500
Equity Trust Company$225 – $2,250

For more information on how these fees can impact your investment, visit our page on platinum IRA performance.

Transaction Fees Breakdown

Transaction fees are incurred when you buy, sell, or transfer assets within your Platinum IRA.

These fees can vary widely and may include charges for custodian-to-custodian transfers. It’s essential to be aware of these costs to manage your investment effectively.

Precious metal IRAs generally come with higher transaction fees compared to other investment options.

For example, RocketDollar charges $15 per month for their Silver membership and $30 per month for their Gold membership, which includes transaction fees (Forbes).

CustodianTransaction Fees
RocketDollar Silver$15/month
RocketDollar Gold$30/month
General Custodian FeesVaries

Understanding these fees will help you plan your investment strategy better. For more detailed guidance, visit our article on platinum IRA investment options.

In summary, being aware of the setup, annual, and transaction fees associated with Platinum IRAs is crucial.

These costs can significantly impact the overall profitability of your investment. Make sure to choose a custodian that aligns with your financial goals and offers transparent fee structures.

For more information on the benefits of investing in a Platinum IRA, visit our page on the benefits of platinum IRA.

Regulations and Compliance

When investing in a platinum IRA, it’s crucial to understand the regulations and compliance requirements.

Ensuring that your investment adheres to IRS guidelines is key to maintaining the benefits and avoiding potential penalties.

IRS Requirements

The IRS has specific rules governing precious metal IRAs, including platinum IRAs. These rules are designed to ensure that your investments are safe and managed properly.

  1. Purity Standards: Not all precious metals are eligible for inclusion in an IRA. The IRS mandates specific purity standards for platinum to qualify. Platinum must have a fineness of 0.9995 or higher.
  2. Approved Custodians: Your platinum must be managed by an IRS-approved custodian. This custodian is responsible for holding and securing your assets without manipulating or transacting them without your explicit permission (Gold IRA Guide).
  3. Storage Requirements: The IRS requires that platinum held in an IRA be stored in an approved depository. This ensures that your investment is secure and that it complies with federal regulations.

Ensuring Your Custodian is Approved

Choosing a reputable custodian is crucial for maintaining compliance and ensuring the security of your investment. Here are some key considerations to ensure your custodian is IRS-approved:

  1. Licensing and Approval: Verify that your custodian is licensed and approved by the IRS. Approved custodians are subject to strict regulations and must comply with capital requirements and security protocols at the federal and state levels (Gold IRA Guide).
  2. Fiduciary Responsibility: An approved custodian must maintain a fiduciary responsibility to you, the account holder. This means they are obligated to act in your best interests, holding and securing your assets without unauthorized transactions.
  3. Regulatory Compliance: Ensure that the custodian complies with all relevant regulations, including those set forth in the Internal Revenue Code. They should be subject to state auditors and maintain high standards of care and fiduciary responsibility.
  4. Reputation and Reviews: Research the custodian’s reputation and read platinum IRA reviews from other investors. A reputable custodian will have positive feedback and a proven track record of compliance and reliability.

Approved Custodians Comparison

CustodianLicensingFiduciary ResponsibilityComplianceReputation
Custodian AIRS ApprovedYesHigh StandardsExcellent
Custodian BIRS ApprovedYesModerate StandardsGood
Custodian CPending ApprovalNoLow StandardsPoor

By ensuring your custodian meets these criteria, you can confidently invest in a platinum IRA, knowing that your assets are in safe hands. For more information on investing in a platinum IRA, visit our articles on platinum IRA performance and platinum IRA tax advantages.

Storage and Security

When you invest in a platinum IRA, understanding how your precious metals are stored and the security measures in place is crucial for peace of mind. This section will cover these two important aspects to ensure your investments are safe and compliant with IRS regulations.

How Your Platinum is Stored

In a platinum IRA, your precious metals are held in a secure storage facility managed by a custodian.

According to Forbes, the metals are typically held in a segregated account, separate from other investors’ assets.

This means your platinum is stored independently, ensuring that your investments are not mixed with those of others.

The storage facilities chosen by reputable custodians are designed to meet stringent security and regulatory standards. These facilities often include:

  • High-security vaults: Designed to withstand theft and natural disasters.
  • 24/7 monitoring: Ensuring continuous surveillance of the stored assets.
  • Climate control: Protecting the physical integrity of the metals.

For a detailed look at the different storage options available, check out our article on platinum ira storage options.

Security Measures in Place

Security is paramount when it comes to storing precious metals in a platinum IRA.

Reputable custodians implement a range of security measures to protect your investments.

These measures include:

  • Advanced security systems: Utilizing the latest technology to monitor and secure the storage facility.
  • Insurance: Ensuring that your investments are covered in the event of theft or damage.
  • Regular audits: Conducting frequent checks to verify the presence and condition of the stored metals.

These security measures are designed to provide you with peace of mind, knowing that your investments are well-protected.

When selecting a custodian, it’s important to ensure they meet these standards to safeguard your assets.

Making the Investment

When considering a Platinum IRA, it’s essential to understand the steps involved and how to diversify within your retirement account.

In this section we will walk through the process of opening a Platinum IRA and optimizing your investment.

Steps to Open a Platinum IRA

Opening a Platinum IRA involves several key steps. Here’s a clear guide to help you get started:

  1. Choose a Reputable Custodian: The first step is to select a trusted custodian who specializes in precious metal IRAs. Your custodian will handle the purchase, storage, and security of your platinum. Refer to our section on finding a reputable custodian for more details.
  2. Set Up Your Account: Once you’ve chosen your custodian, you’ll need to set up your Platinum IRA account. This typically involves filling out an application form and providing necessary identification documents.
  3. Fund Your Account: Next, you need to fund your IRA. You can do this through a rollover from an existing retirement account, a transfer, or a new contribution. For details on the rollover process, see our guide on the platinum ira rollover process.
  4. Select Your Platinum: With your account funded, you can now select the platinum products you wish to invest in. Be sure to choose IRS-approved platinum coins or bars, as not all platinum is eligible for IRAs.
  5. Purchase and Storage: Your custodian will handle the purchase of the platinum and ensure it is stored in a secure, IRS-approved depository. For more information on storage options, visit our section on platinum ira storage options.

Diversifying within Your IRA

Diversification is a crucial strategy for managing risk and optimizing returns in your Platinum IRA. Here’s how you can diversify effectively:

  1. Allocate a Portion to Platinum: Most experts recommend allocating no more than 5% to 10% of your retirement funds to precious metals (Forbes). This helps balance potential gains with the inherent risks of market volatility.
  2. Invest in Other Precious Metals: In addition to platinum, consider investing in other precious metals like gold, silver, and palladium. This further diversifies your portfolio and can provide additional stability. For more insights, explore our article on platinum ira investment options.
  3. Incorporate Traditional Assets: While a Platinum IRA focuses on precious metals, it’s important to maintain a mix of traditional assets such as stocks, bonds, and mutual funds in other investment accounts. This holistic approach to diversification can enhance the overall performance of your retirement portfolio. Learn more about the benefits of platinum ira.
  4. Regularly Review Your Portfolio: Periodically review your investments to ensure they align with your retirement goals. Adjust your holdings as needed based on market conditions and your financial objectives. For tips on maintaining a balanced portfolio, check out our section on platinum ira performance.