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Good News you can fund your IRA’s with gold and silver. The US. Government allows purchases of certain types of precious metals to be held in IRA accounts. However there are certain requirements that must be met. Also needed are special IRA account administrators who specialize in precious metals held in IRA’s and understand all the IRS rules on this form of investment. Precious Metal Investments allowed to be held in an IRA account include: • Physical metals • Certificates of precious metals • Exchange traded funds (ETF’s) • Closed end funds (CEF’s) • Private funds Everything you need to know about: • What types of physical precious metals are allowed into an IRA? • Allowed coins for an IRA. • Gold coins - not allowed in an IRA. • What is bullion and what is acceptable for an IRA • IRS storage requirements. • Self directed IRA account administrators. • How to place precious metals into an IRA account. • A note about 401K’s. What Types of Physical Precious Metals can be held in an IRA? • Gold bullion • Gold coins • Silver bullion • Silver coins • Platinum coins • Palladium coins Allowed coins for an IRA • Gold – US. American Eagles, Australian Kangaroos, Canadian Maple Leafs, Austrian Philharmonic’s. • Silver – US. American Silver Eagles, Australian Kookaburra, Canadian Silver Maple Leafs, Mexican Silver Libertad Bullion. • Platinum & Palladium - US. & Canadian minted one ounce Coins. Gold Coins - Not allowed in an IRA These gold coins are not of the minimum acceptable purity that is required to be held in an IRA. • South African Krugerrands. • Hungarian Corona. • British Britannia or British Sovereign. • Rare or Collectable Numismatic coins. What is bullion - What is acceptable 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. IRS Storage Requirements When you fund an IRA with precious metals 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 precious 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. Self Directed IRA - Account Administrators Let me first let you know that funding an IRA account with precious metals 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 precious metals. You will find several reputable IRA Self Directed IRA Administrator companies on line. How to place precious metals into an IRA account OK now you’re new or existing IRA account (s) is set up, with an administrator that specializes in Self Direction and precious metals you have your accounts funded and have 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. (This depends on your IRA administrator)Once your investment is under the care of your administrator you will have segregated Vault storage of your precious metals which are held in your IRA account name thru 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 the precious metals held in your IRA account. It must be overseen by a third party, an IRA plan administrator. A Note about 401K’s 401K’s themselves cannot be funded with precious metals under the IRS rules. However they can easily be converted into a “Self Directed” traditional IRA, which in turn can hold precious metals. Tom Genot - About The Author: For more information self directed precious metal administrators, news, articles and videos to invest in gold and silver and where the best places are to buy it. You will also find information for preparing and protecting you, your family and your assets from the pending economic crises and destruction of the US. Dollar. Author Tom Genot provides information and resources helpful to everyone. Insure your prepared beforehand, check us out at www.coinbullion.net.
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