Gold IRA and 401k Investing
Adding gold to your IRA may sound complex, but we can guide you through the steps necessary. Then you can start enjoying the benefits of IRA investments that include your personal ownership of gold bullion.
Transferring a traditional or Roth based IRA to a gold based IRA is quite easy. Establishing a gold based IRA from a 401(k) can also be simple providing separation from an employer has occurred. If there has been no employment separation then you may find that the employer’s plan will not allow assets to be moved to a gold backed IRA. Fortunately, there are always exceptions and you should consult a competent retirement professional. Existing IRAs with brokerages, banks or other financial service institutions can easily be transferred directly to a self administered gold backed IRA. The simplest method to establishing a new gold IRA is to transfer directly either the funds or the securities in the account.
What types of precious metals can be held in an IRA? The United States government currently allows certain bullion and proof coins such as gold and silver American Eagles to be held in IRAs. Proof coins are unique collectable versions of mass produced bullion coins.
Gold Coins and Gold Bullion – Presently, only gold coins that have a purity of 24 karat are allowed in an IRA. The exception is the 22 karat United States Gold Eagle. Likewise, gold bars with a purity of 24 karat are also allowed to be held in an IRA. These bars must be marked by an approved refiner or assayer. Gold bars come in 1 ounce, 10 ounce, 100 ounce and 400 ounce sizes.
SILVER – Only silver coins and bars 0.999 fine are allowed to be held in an IRA. These include the 1 ounce US Silver Eagle, Canadian Silver Maple Leaf and the Mexican Silver Liberty. Individual investors may also purchase 100 oz. and 1000 oz. silver bars. Pre 1965 silver coins are not allowed as they are alloys containing other base metals.
PLATINUM and Palladium – Both platinum and palladium coins and bars that are of 0.9995 fineness may be held in a precious metal IRA. The US, Canada, UK and Australian mints all make 1 oz. platinum coins. All platinum or palladium bars must be from an approved refiner or assayer such as Johnson Matthey and Englehard. Global financial problems are dramatically reflected in today’s economy and in your retirement portfolio. Gold seemingly turns a blind eye to such incidents, as has been the case for century upon century. When you make a place for physical gold in your retirement account you help to insure that you actually get to retire.
Three Easy Steps:
Add gold to your current IRA or let us guide you in creating a new one.
You’ll need to have the right kind of IRA, since the Internal Revenue Service (IRS) has designated certain types of IRAs as appropriate for holding gold bullion and other precious metals. These “self-directed” IRAs allow you to have more control over your investment choices and are easy to establish and administer.
Instruct your IRA to buy gold bullion or other precious metals from Gold Bullion Exchange. Once you’ve selected an existing IRA or established a new one in which you would like gold bullion to be deposited, Gold Bullion Exchange will help you determine what to buy and how much. You’ll then complete a form authorizing your IRA custodian to buy the gold bullion or other precious metals to deposit in your account.
Deposit your gold bullion with an IRS-approved custodian. The IRS requires that gold bullion owned by an IRA or SEP be held by a custodian. Gold Bullion Exchange frequently works with Self Directed IRA, review their fee schedule and Sterling Trust Company, review their fee schedule which can provide the custodial services needed to establish your new IRA and manage the resources within it. Gold Bullion Exchange can help establish this relationship for you.
Call 1-800-856-3827, to speak with a live Gold Specialist!