Homepage / Bullion Investment Basics: IRAs & Bullion


Memorial Day - Honor & Remember



Updated on 01/09/2024

IRAs  &
Precious Metals Bullion



Gold IRAs hold physical precious metals in a Investment Retirement Account (IRA); you can have gold, silver, platinum and palladium bullion bars and coins in these accounts.

Gold IRAs are self-directed, which allows alternative investments for retirement savings.

Physical bullion can be part of your retirement account under the tax-advantaged umbrella of your IRA. Capital gains are just one of the many reasons for getting into precious metals bullion.

You are allowed to buy and sell for gain inside the IRA with no tax consequence. Taxes only take effect until you remove money from the account.

american eagles bullion

The Internal Revenue Service (IRS) requires that a qualified trustee or custodian hold IRA assets on behalf of the IRA owner.

The trustee/custodian provides custody of the assets, processes all transactions, maintains other records pertaining to them, files required IRS reports, issues client statements, helps clients understand the rules and regulations to certain prohibited transactions, and performs other administrative duties on behalf of the self-directed IRA owner.

Gold IRAs are odd in this one way: you cannot personally store the physical metal your account holds; you direct the trustee/custodian to purchase precious metal bullion bars you like, but you cannot store them yourself, although you can go see them.

In addition, you cannot take physical possession of the precious metals bullion until you hit the age of 59 ½; however, once the precious metals are out of the IRA and in your possession, the tax shelter benefits of the IRA are no longer applicable.

The precious metals are in a regulated depository, licensed by the COMEX and NYMEX Divisions, and insured by Lloyds of London; the Delaware depository is the most commonly mentioned for Gold IRAs.





Minimum Fineness of
Precious Metals Bullion for IRAs



IRA-approved product, precious metals must meet minimum fineness (purity) levels. 

  • .995 Gold Minimum Fineness
  • .999 Silver Minimum Fineness
  • .9995 Platinum Minimum Fineness
  • .9995 Palladium Minimum Fineness

Examples of Non-approved Bullion are Gold Krugerrands, British Sovereigns, and 90% US Silver Coins (a.k.a: Junk Silver Coins).





Acceptable IRA Physical Bullion
Coins & Bars



The following are examples of the precious metals bullion coins, bars and rounds that are allowed in Investment Retirement Accounts.





Precious Metals IRAs
Have Some Limits



Things you CANNOT DO when setting up an IRA Account with Physical Precious Metals Bullion:

  • You CANNOT put bullion you already own into an IRA account; IRS regulations concerning IRAs prohibit it.
  • You CANNOT hold the physical bullion yourself; IRS regulations require the precious metal to be held by an approved depository or an IRA trustee.


A Trust Company or "Custodian" is a company that the IRS allows you to maintain and hold the bullion for Precious Metals IRA Investors.     





What do Trust Companies Do?



Trustees handle all funds once your account is established and funded through direct deposit or from rolling over another 401K or existing IRA; they pay the Bullion Dealer from who you bought the bullion.

All bullion bought for the IRA must meet the requirements listed above. Trust companies provide monthly account statements with all of your account information.

The depository has two forms of storage.

  • Fungible: meaning your coins are grouped with other people's coins.
  • Segregated: where your coins are separate from others within the storage facility, ensuring that the exact coins you purchased are yours and yours only.

Depositories charge a small annual account fee plus a storage fee based upon the total value of the account; segregated storage costs slightly more.

Note: Not all Trustee companies have their own depositories. Your Trust company will assist you in finding one if they do not have one for themselves.




If you are interested in including physical bullion into a IRA account, you should consider consulting with a good financial advisor about the specific ways you can introduce physical bullion into a Roth or Traditional IRA account.

nest egg study


IRA Resources:

Internal Revenue Service - IRA Online Resource Guide





Other pages, on this Guide, that you
may like...













SD Bullion

Bretton Woods

Establishing the Gold Standard of the

20th Century

Bretton Woods



Johnson Matthey

Bullion Refiner

Johnson Matthey

SilverGoldBull




Walmart





Universal Coin








Home Page

FBIG - Home Page Screenshot

with Bullion Market News






IRAs (Investment Retirement Accounts)



For Bullion Market News...


Visit the Homepage








Free Bullion Investment Guide







Free-Bullion-Investment-Guide "Search"
search engine by freefind advanced


Search - Magnify Glass






Free Bullion Investment Guide



Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.
Affiliate Disclosure





Free Bullion Investment Guide



search

   Search the Guide

search engine by freefind advanced




recent guide updates

Daily

Bullion News on the Homepage



Newsletter

May 2024




Updated

U.S. Bullion Coin

Mintage Figures

Seal of the United States Mint - US Mint



Updated

Financial Links

for the

Bullion Investor

Links



Updated

Numismatic & Bullion Auctions page

Numismatic and Bullion Auctions



3/21/2024

Silver is Going Higher

silver is going higher



03/07/2024

Blog Post

Gold is Going Higher

gold is going higher



Updated

Gold Sovereigns

2024 Full Gold Sovereign - King Charles
2024 Full Gold Sovereign - King Charles - reverse side



Update

The Royal Canadian Mint &

Canadian Bullion

Royal Canadian Mint - east side view from Sussex Drive



Update

Home Safe Buying Guide

Home Safe Buying Guide



New Page

Vault Storage Brokerages

Vault Storage Brokerages



2023

Silver Libertad

Mintage Figures

silver libertad



2023

Gold Libertad

Mintage Figures




Archangel Raphael
~
The Angel of Healing

ArchAngel Raphael - 05





Cancer Awareness Information & Resources

Bladder Cancer - May Cancer Awareness Ribbon - Gold Nano Logo
Brain Cancer - May Cancer Awareness Ribbon - Gold Nano Logo
Melanoma & Skin Cancer - May Cancer Awareness Ribbon - Gold Nano Logo



Help Us Expand our Audience by forwarding our link

www.free-bullion-investment-guide.com.

Thank You!



April's

Best News

Gold's Wild Rally Isn't Over Yet - Daily Wealth

Wisconsin grants precious metal bullion tax exemption - Coin World

Silver Breakout Adds To Massively Bullish Price Pattern! - Kimble Charting Solutions

4 Key Factors to Consider When Hedging Against Inflation -Inflation Data.com

CHART: US Inflation Rate Rises More Than Expected - Trading Economics

CHARTS: Bitcoin Matching Gold's Footsteps - McClellan Financial

Gold Is on the Rise and Reaches All-Time High - Sprott

GRAPHIC: Where Does One U.S. Tax Dollar Go? - Visual Capitalist

Gold is the cornerstone of stability as government debt rises out of control - Kitco

Destination TEOTWAWKI - Economic Prism

Fixing FDR's Biggest Blunder: From Gold Standard To Fiat Folly And Back - Zero Hedge

Charted: The Value Gap Between the Gold Price and Gold Miners - Visual Capitalist

Nanoparticle Cancer Research
Drinking Tiny Gold Crystals May Help With MS Vision Problems - WebMD

Dentistry school receives $8M to study oral cancer treatments - Washington Square News


All Articles were Originally Posted on the Homepage