Including precious metals in an IRA account can potentially provide investors with additional diversification and growth opportunities. However, there are very strict rules and regulations for precious metals investments with an IRA account. In fact, there are only certain gold, silver, platinum, and palladium products that are eligible for inclusion in an IRA account. Here we will outline the available products
.
Want to set up a self-directed precious metals IRA? Well, not all gold, silver, platinum, and palladium bars are eligible for an individual retirement account (IRA). The IRS only approved certain gold, silver, platinum, and palladium bars and types of coins. The following is a list of IRA-approved gold bars that can be purchased for a precious metal IRA. Gold IRA companies can help you with this process, from choosing a custodian bank to arranging the storage of your
precious metals.
To invest in precious metals via a self-directed IRA, you must set up a valid IRA and have cash in the IRA. All products that do not fall into these areas, with the exception of American Gold Eagles, are not eligible for IRA contributions. There are currently a wide variety of precious metals that meet the minimum purity requirements that are acceptable for inclusion in a Gold IRA account. Approved gold investments must fall under a pre-approved list (as described above) and be pure 24-carat gold bars (
1 ounce — 400 ounce).
Precious metals IRAs are usually self-directed IRAs, a type of IRA in which the custodian bank allows you to manage more diverse investments in the account. First, you’ll need to buy IRA-qualified gold and choose an IRS-approved custodian that ensures that your gold complies with the regulations. One reason is that IRAs are not allowed to hold collectibles and precious metals such as gold and silver are considered collectibles. Scottsdale Bullion %26 Coin has simplified the process of setting up a gold and silver IRA
in six easy steps.
