What is a Precious Metals IRA?
A Precious Metals IRA is an Individual Retirement Account (IRA) in which physical gold, silver, platinum and/or palladium are held in custody for the benefit of the IRA account holder. It functions the same as regular IRA, except instead of holding only paper assets, it holds physical coins and/or bars.
Precious Metals IRAs offer several advantages over traditional IRAs.
- Diversification – Investing in different assets and securities can help reduce your overall investment risk and avoid the possibility of damage to your portfolio by the poor performance of a single security, industry or asset.
- Wealth Protection – Your assets are safely stored in an IRA approves, state-of-the-art, secure facility 24 hours a day, 7 days a week.
- Hedge Against Inflation – Many investors use their Precious Metals IRAs as a hedge against inflation, governments, big business and economic collapse.
- The Fourth Asset – Precious metals are considered by many to be the fourth asset class and can work in conjunction with your traditional stocks, bonds and cash.
There are more advantages to holding coins as opposed to bars in a Precious Metals IRA, in terms of liquidation. Coins are easier to sell and far more difficult to counterfeit than bars.
The IRS maintains a list of coins that can be included in a Precious Metals IRA. The following is listing of currently allowed coins.
Gold
- Gold American Eagle bullion coins
- Gold American Eagle proof coins
- British Gold Britannia coins
- British Queen’s Beasts golf coins
- British Gold Shengziao Lunar Series coins
- Canadian Gold Maple Leaf coins
- Austrian Gold Philharmonic coins
- Australian Kangaroo/Nugget coins
- Chinese Gold Panda coins
- Gold American Buffalo uncirculated coins (proofs not allows at this time)
- Gold bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements
Silver
- Silver American Eagle bullion coins
- Silver American Eagle proof coins
- British Silver Britannia coins (from 2013)
- British Queen’s Beasts silver coins
- British Silver Shengziao Lunar series coins
- Canadian Silver Maple leaf coins
- Austrian Silver Philharmonic coins
- Australian Silver Kookaburra coins
- Chinese Silver Panda coins
- Mexican Libertad silver coins
- Silver bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements
Platinum
- Platinum American Eagle coins
- Platinum American Eagle proof coins
- British Queen’s Beasts platinum coins
- Canadian Platinum Maple Leaf coins
- Isle of Man Noble platinum coins
- Australian Platinum Koala coins
- Platinum bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements
Palladium
- Palladium American Eagle bullion coins
- Canadian Palladium Maple Leaf coins
- Palladium bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements
Starting a Precious Metals IRA is a simple, three step process. Give us a call today at (866) 927-2082 to speak with one of our IRA Specialists.