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Self Directed IRA Investments - Gold in an IRA

Gold in an IRA

The IRS allows an IRA, Individual 401(k), HSA, or ESA to acquire certain precious metals as an asset without penalty and while keeping the tax benefits associated with that account type.

Acquiring assets, such as silver, platinum, palladium or gold, in an IRA is one way to diversify your retirement portfolio. Many people have experience investing their personal funds in precious metals. They are now looking to capitalize on that experience and generate retirement wealth that is tax-deferred or tax-free.

An IRA holder must choose a dealer/broker and a depository in order to acquire physical precious metals in his or her IRA. There are dealers and depositories all over the U.S. and the world, and each has its own business practices, pricing structures and paperwork. An IRA can purchase precious metals from any non-disqualified person (learn more) or entity. The depository is a secure facility where the metals are held in the name of the IRA.

The IRS requires an authorized IRA provider for all IRAs. Not all IRA providers handle precious metals, but New Direction IRA does. You, the IRA holder, select a dealer/broker from which to buy metals, and direct us to send money from your IRA to close the deal. We make sure that the paperwork substantiates that the asset is part of your IRA and, thus, deserves the tax benefits associated with the account type.

New Direction IRA (NDIRA) has recently strengthened its support of and commitment to precious metals investors with the formation of its new Precious Metals Asset Team (PMAT), part of New Direction IRA's larger Asset Acquisition department. The new team includes specialists in precious metals assets, IRA accounting and business-to-business relationships, and benefits clients by streamlining the metals acquisition process.  To reach the PMAT team, dial (877)742-1270, X-185.

What Are the Benefits gold in an IRA?

  • Precious metals are tangible assets.
  • Precious metals are an asset type that you have experience with and understand.
  • You can submit paperwork for a metals purchase, sale, or exchange online by logging into myDirection, our proprietary client account portal.
  • Allows true diversification of your retirement account
  • You have strategic control over the types of metals your IRA owns.
  • You can exchange one type of metal for another quickly in response to market conditions.
  • You can apply your knowledge and expertise pertaining to the precious metals market.
  • You can buy, sell and exchange metals without tax consequence.

Self Directed IRA educational videos - Precious Metals in IRA

Gold IRAs – Introduction to Precious Metal Investing

This FREE online seminar discusses investing in GOLD and other precious metals through an IRA/401(k). Take 30 minutes and learn how you can secure your retirement plan wealth by diversifying with precious metals. Will your retirement funds be safeguarded from inflation? Financial professionals across the globe all agree that asset diversification is the key to success. To reduce the risks of investing, many professional suggest the purchase of precious metals to diversify investments among different securities or asset classes.

Gold IRA - Important Things to know

  • The IRA is the owner of the precious metals, not the IRA holder. Therefore, purchase, shipping and depository costs are paid by the IRA and all gains go back to the IRA.
  • All legal documents related to an IRA-owned asset must be in the name of the IRA, not your personal name. 
  • The IRS allows bullion products for IRA investment, but does not allow collectible coins. Therefore any coin that has been graded is not eligible.
  • The IRS does not allow the IRA holder to possess the physical metals while those assets are in the IRA.
  • The metals must meet certain fineness standards, as specified by the IRS, to be held in a retirement account.

Gold .995%
Silver .999%
Platinum .9995%
Palladium .9995%

NOTE: Gold American Eagles are permissible even though they do not meet the fineness requirement.

gold in IRA

Due Diligence For Precious Metals In An IRA

It is the IRA holder's responsibility to perform due diligence. New Direction IRA will work with any metals dealer and depository the IRA holder chooses. As part of their due diligence, the IRA holder researches potential dealers and depositories and chooses the option with which he or she feels most comfortable.

In selecting a dealer, an IRA holder might consider factors like price, fees and delivery time. When choosing a depository, criteria like location, insurance, security procedures, segregated vs. non-segregated storage, price and more might come into play. Note that dealer and depository fees are separate from NDIRA fees.

Step by Step Guide to Acquire Precious Metals in an IRA

Step 1 – Open and Fund your IRA – It takes New Direction IRA two business days to open your account once your application is in the office.  Then you will fund the account with a rollover, transfer, and/or contribution.  This may take several weeks, so plan for that in your timetable.

Step 2 – Choose a dealer and depository - The IRA is allowed to purchase metals from any non-disqualified person or entity. Fill out a depository election form and submit it to NDIRA.

Step 3 - Fill out a Buy Direction Letter and submit it to NDIRA .

Step 4 – Agree on a purchase with the dealer. Dealer will send an invoice to NDIRA.

Step 5 - NDIRA pays the dealer from the IRA funds. NDIRA sets up an account at the depository in the name of the IRA. Metals are shipped by the dealer to the depository.

Popular Bullion Products Allowed in an IRA

 

Gold, silver, platinum and palladium bars and rounds produced by a refiner/assayer/manufacturer accredited by NYMEX/COMEX, NYSE/Liffe, LME, LBMA, ISO 9000, or national government mint and meeting minimum fineness requirements**

Gold .995%
Silver .999%
Platinum .9995%
Palladium .9995%

NOTE: Gold American Eagles are permissible even though they do not meet the fineness requirement.

Gold

  • American Eagle coins
  • American Buffalo coins (uncirculated non-proof only)
  • Australian Kangaroo/Nugget coins
  • Austrian Philharmonic coins
  • Canadian Maple Leaf coins

Silver

  • American Eagle bullion & proof coins
  • Australian Kookaburra coins
  • Austrian Philharmonic coins
  • Canadian Maple Leaf coins
  • Mexican Libertad coins

Platinum

  • American Eagle bullion & proof coins
  • Australian Koala coins
  • Canadian Maple Leaf coins
  • Isle of Man Noble coins

Palladium

  • Bars and rounds produced by a refiner/assayer/manufacturer accredited by NYMEX/COMEX, NYSE/Liffe, LME, LBMA, ISO 9000, or national government mint and meeting minimum fineness requirements

Examples of Precious Metals Products that are NOT Allowed

Austrian Corona and Ducat
Belgian Franc
British Sovereign
German Mark
Hungarian Korona

Columbian Peso
Dutch Guilder
French Franc
Swiss Franc
Rare/Collectible Coins
Italian Lira
Mexican Peso and Ounza
South African Krugerrand
Chilean Peso

 

Learn about New Direction IRA Precious Metals Fees

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