Precious Metals IRA | A Popular Retirement Investment - Precious Metals IRA 101
Some people are not aware that you can hold precious metals in an ira account.
Precious Metal Investments you are allowed to hold in an IRA account can include:
- Physical metals.
- Certificates of precious metals.
- Exchange traded funds (ETF's).
- Closed end funds (CEF's).
- Private funds.
There's a lot to learn before you begin investing with precious metals.
Things such as:
- What types of physical precious metals are allowed into an IRA?
- Allowed coins for an IRA.
- What is bullion and what is acceptable for an IRA.
- IRS storage requirements.
- How to place your metals into an IRA account.
Then you need to know What types of physical precious metals can be held in an IRA?
- Gold bullion.
- Gold coins.
- Silver bullion.
- Silver coins.
- Platinum coins.
- Palladium coins.
You may also wonder if you can hold these types of coins in your IRA:
- Gold US American Eagles.
- Gold Australian Kangaroos.
- Gold Canadian Maple Leafs.
- Gold Austrian Philharmonic's.
- Silver US American Silver Eagles.
- Silver Australian Kookaburra.
- Silver Canadian Silver Maple Leafs.
- Mexican Silver Libertad Bullion.
- American & Canadian Platinum or Palladium minted one ounce coins.
Then you ask what gold bullion is and if it is allowed in an IRA account or not.
Bullion is considered to be bars and rounds manufactured by a NYMEX or COMEX approved refiner/assayer or national government mint that meets or exceeds these minimum fineness requirements.
- Gold - fineness of 99.5% or better.
- Silver - fineness of 99.99% or better.
- Platinum - fineness of 99.95% or better.
- Palladium - fineness of 99.95% or better.
You will also need to be aware of the IRS Storage Requirements for your precious metals because When you fund an IRA with gold, silver, platinium or palladium the IRS requires you to store your investment in a vault considered "safe for your investment". Vault segregated storage is where your investment is separated from everyone else's inside a secure vault. This type of storage is really the only approved storage you can have when your metals are held in an IRA. An IRA administrator will open a segregated storage account on behalf of your IRA. When your investments have been purchased the dealer will deliver your investment to the vault you have chosen. You are not allowed to take physical possession of that investment.
Even though you have a Self Directed IRA it is a good idea to have an Account Administrator.
Let me first let you know that funding an IRA account with precious metal cannot be done by most IRA administrators and you need to have a "self directed" IRA account set up for this type of investment. Therefore, you will need to find an IRA Administrator who specializes in self directed IRA's and precious metal investments because not all IRA administrators will handle deposits made from physical gold or silver.
How to place precious metals into an IRA account:
Once your new or existing IRA account is be set up with an administrator that specializes in self direction and precious metals, you will have your account funded by having your specific investment purchased on your behalf by your administrator or you will make the purchase yourself and have your investment directed into your IRA account depending on your IRA administrator.
Once your investment is under the care of your administrator you will have segregated vault storage of your gold and silver which are held in your IRA account name through the administrator of your self directed IRA. Sometimes you have a choice of where you want your investment held other times it is up to the contracted vault your administrator uses. IRS rules do not allow you to personally hold these types of metal assets in your IRA account. It must be overseen by a third party, an IRA plan administrator.
To learn more about a precious metals ira, visit my site: http://www.regalassets.com/a/2014/
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