Posts Tagged ‘precious metals IRA’

Four Questions and Answers: Precious Metals IRA

Monday, January 22nd, 2018

Investing in a precious metals IRA can seem quite opaque at times. Moreso than investing in an asset more common like real estate, simply because it’s quite a rare investment type. Understanding how a precious metals IRA works, the rules, and what to avoid is essential for every successful investor.

Can I buy and store the metal myself?

Unfortunately no. In order for the IRA to be qualified by the IRS, it must be held by the custodian. The custodian will have a handful of metal dealers that they work with, that store the metals accordingly, have low storage fees, and are full IRS compliant.

What metals are allowed?

Within gold, silver, platinum, and palladium, there are several types of metals that are allowed. Popular bars or proof coins include American Eagle, Australian Kangaroo or Nugget, Austrian Philharmonic, Canadian Maple Leaf, Credit Suisse – Pamp Suisse Bars 0.999 fineness, U.S. Buffalo Gold Uncirculated coins with no proof, plus more. These selections change depending on the metal type you choose.

What fees am I likely to incur?

Accuplan Benefits Services strives to help our customers keep as much of their retirement funds as possible, so we keep our fees appropriately low. See the graphs below for more information on our fee structure for precious metals IRAs.

 

How does adding precious metals to my IRA benefit me?

There are a handful of reasons that precious metals are beneficial in a retirement account. To highlight a few, diversification, liquidity, preservation of wealth, and hedging against inflation. Precious metals have a value that is tangible, that you can touch and hold, so in that regard, it offers peace of mind in that you can see your investment. Unlike paper assets like stocks and bonds, gold traditionally performs well even when the economy is trending downward. It holds its value despite threats of inflation, rising national debt, and market instability or crashes.