3 Short Steps to Invest in Your Future With a Precious Metals IRA

How to get started with your IRA investment.

1
You will have to set up your precious metals self-directed IRA with a custodian. There are several to choose from — call 888-604-6534 and we will point you to one we work with.
2
Once the IRA has been set up, you can contribute to a new IRA or transfer funds from your current institution by completing a rollover/transfer form to the new custodian.
3
Once funds are transferred, give us a call to purchase the approved metals for your account. We will lock in the price and provide all further instructions to complete the transaction. Your custodian will settle the trade and Buy Gold and Silver Safely will have the metals shipped to your IRA account.

Speak to an IRA consultant

Call 888-604-6534 for questions on how to set up an IRA to purchase gold and silver or how to start a rollover or transfer of your current IRA or 401(k) to a gold and silver IRA.

Call 888-604-6534

What metals are allowed in your self-directed IRA?

Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure.
Bars, rounds and coins must be produced by a refiner, assayer or manufacturer accredited or certified by NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 9000, or a national government mint, and meet minimum fineness requirements.
Proof coins must be encapsulated in complete, original mint packaging, in excellent condition, and include the certificate of authenticity.
Small bullion bars — other than 400 oz gold, 100 oz gold, 1000 oz silver, 50 oz platinum and 100 oz palladium bars — must be manufactured to exact weight specifications.
Non-proof (bullion) coins must be in brilliant uncirculated condition and free from damage.

Examples of acceptable products

Gold

American Eagle bullion and/or proof coins
Canadian Maple Leaf coins
U.S. Buffalo bullion coins
1 oz gold bars

Silver

American Eagle bullion and/or proof coins
Canadian Maple Leaf coins
Chinese Panda coins
Silver bars

See the note on proof coins below — we do not recommend them.

Examples of unacceptable products

Any rare or collectible coin
Chilean Peso
Hungarian Korona
Austrian Corona and Ducat
Columbian Peso
Italian Lira
Belgian Franc
Dutch Guilder
Mexican Peso and Onza
British Britannia (pre-2013)
French Franc
South African Krugerrand
British Sovereign
German Mark
Swiss Franc

What to watch out for when investing in a precious metals IRA

There are several scams out there gold dealers push upon unsuspecting investors. Please do not fall prey to their tactics, which I have warned about in my book Buy Gold and Silver Safely.

1. No, you cannot take physical possession of your metals at home.

Gold and other bullion are “collectibles” under the IRA statutes, and the law discourages the holding of collectibles in IRAs. There is an exception for certain highly refined bullion provided it is in the physical possession of a bank or an IRS-approved nonbank trustee. This rule also applies to an indirect acquisition, such as having an IRA-owned Limited Liability Company (LLC) buy the bullion. IRA investments in other unconventional assets, such as closely held companies and real estate, run the risk of disqualifying the IRA because of the prohibited transaction rules against self-dealing.

Source: IRS — Retirement Plans FAQs regarding IRA investments

2. Don’t buy proof coins.

In March of 2013, as well as in the first version of my book in 2010, I warned investors about how gold dealers push them to buy gold and silver proof coins and sets in their IRA. These dealers typically charge a 15% to 30% commission and try to categorize these metals as having a collector’s value that will appreciate faster than bullion. There is no proof of this. These coins are basically shiny, pretty bullion coins that have had an extra polishing to them.

The Problem With Buying Gold And Silver Proof Coins In Your IRA — the article I wrote for Seeking Alpha on the subject.

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