Gold and Silver IRA

Most people don’t know they can use their IRA or 401(k) to invest in physical gold and silver. All one has to do is set up what’s called a self-directed IRA, which allows you to invest directly in certain gold and silver coins and bars. A rollover IRA is a good way to acquire gold and silver that is set aside for you where you can ask for delivery at any time (subject to current income taxes and possible 10% penalty if pre-59 1/2).

There are only certain gold investments that can be put into an IRA. These are 1-ounce bars, 10-ounce bars, 1-ounce gold bullion American Eagles and 1-ounce Gold “Proof” American Eagles. The choice you make here will depend upon your age and ability to withdraw.

The silver that investors can put in their IRAs are Silver Eagles, 100-ounce and 1,000-ounce bars along with the Proof Eagles. Because your concern is profit with your IRA, I only recommend the Silver Eagles and 1,000-ounce bars, which offer the lowest spread. You’ll pay storage fees with both coins and bars.

If you already have the bags of silver coins and American Eagle Gold Bullion Coins for personal use, then the IRA would hold the bars, as they offer a better spread than the American Eagle silver and gold coins do.

The only coins that are allowed in your IRA are .995 fine (99.5%) pure, legal tender coins. Other coins allowed in an IRA besides the American Eagle are the gold 1-ounce Australian Kangaroo, Austrian Philharmonic, Canadian Maple Leaf and the U.S. Buffalo Gold Uncirculated Coins. These coins may have different spreads associated with them.

Some spreads may be higher for some of these because of lack of product.

Gold dealers will push the “proof” coins on the unsuspecting investor, because they offer the salesperson a higher commission, sometimes as high as 30%. Lately, however, some gold dealers are starting to charge clients up to 30% on the gold bullion put into an IRA in a blatant attempt to capitalize on ignorance of investing in gold.

All you need is the most gold and silver for your money and pay as little as possible to acquire it. That’s what Buy Gold and Silver Safely specializes in.

Thinking About Buying Gold and Silver Coins for Your IRA? Contact Us Today!

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