Monday, September 1st, 2014 MST

Gold & Silver in your IRA

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Traditional, Roth, SEP, Simple, and Self-Directed IRAs

Gold bullion and silver bullion were approved for IRAs in 1997. Previously, the only forms of physical gold or silver approved for IRAs were American Gold Eagle coins and Silver Eagle coins.

This change was especially beneficial to IRA investors who prefer silver because they now can select silver bars, which carry much smaller premiums than Silver Eagle coins. The change also permitted the inclusion of platinum and palladium in IRAs.

Gold Eagles specifically approved for IRAs

American Gold Eagle coins are the only gold coins specifically approved for IRAs. Other gold coins, to be eligible as IRA investments, must be at least .995 fine (99.5% pure) and be legal tender coins.

It is CMIGS’ position that Gold Eagles are the best choices for those investors who want gold coins in their IRAs.

Gold Bullion Bars Ideal for IRAs

Because gold bullion bars sell at smaller premiums than gold coins, they are ideal for IRAs. The most common gold bullion bars are the 1-oz bars, the 10-oz bars and kilo bars (32.15 ounces) Although the regulations that govern IRAs call for a minimum purity of only 99.5%, most gold bullion bars are 99.99% pure, what the industry calls “four 9s gold.”

Investors with large IRAs should consider the ten-ounce and the kilo bars (32.15 ounces) because the larger bars carry smaller markups over spot. As a rule, the larger the bar, the smaller the markup.

Krugerrands not acceptable in IRAs

Krugerrands (91.67% pure), and also Mexican 50 Pesos coins (90% pure) and old US gold coins (90% pure), are not legal investments for IRAs. Only American Gold Eagles are specifically mentioned in the law that governs IRA investments. CMIGS recommends Gold Eagles for IRA plan holders who prefer gold.

Silver Eagles approved for IRAs

One-ounce American Silver Eagles are the only silver coins specifically approved for IRAs. However, Silver Eagles carry high premiums. The problem with high premium forms of silver and gold is that premiums sometimes shrink, even disappear, in rising markets.

For investors who prefer silver in their IRAs, silver bars offer more metal for the money because of their low premiums.

Backdated Silver Eagles for IRAs

Sometimes backdated Silver Eagles are available at prices considerably less that new Silver Eagles. Investors who prefer Silver Eagles should ask about backdated Silver Eagles before putting current year Silver Eagles in their IRAs.

Silver Bullion Bars for Self-Directed IRAs

Because of the high premiums on 1-oz American Silver Eagle coins, CMIGS recommends bullion bars, either 1,000-oz silver bars or 100-oz silver bars for investors who prefer silver.

Pre-1965 US 90% silver coins are not eligible for IRAs.

Platinum and Palladium for IRAs

Another significant change in 1997 was the inclusion of platinum and palladium, two precious metals which have become popular investments over the last few years.

Although this change offers IRA investors the opportunity to diversify their investments into other precious metals, IRA account holders should do serious research before choosing platinum or palladium for IRA investments. Gold and silver are monetary metals, while platinum and palladium are industrial metals.

Thirty years working with IRAs

CMIGS now has more than 30 years experience working with self-directed IRAs that accept precious metals investments. We started in the 1980s with Delaware Charter, which was acquired by American Church Trust Company in 1994. In 2007, American Church Trust Company was acquired by GoldStar Trust Company.

Our 30 years experience working with self directed IRAs and our 38 years experience in the precious metals industry enable us to offer unmatched service to IRA account holders.

GoldStar Trust Company Gold-Silver IRAs

GoldStar Trust Company, based in Canyon, Texas (a suburb of Amarillo), offers self directed IRAs for investors who want to invest in precious metals. Administering more than 28,000 IRA accounts, GoldStar has more than $1.2 billion in custody. Because self-directed IRAs are an integral part GoldStar’s business, gold-silver IRA account holders receive special attention at GoldStar. GoldStar is regulated by the Texas Banking Commission.

GoldStar offers professional and courteous service and has implemented the latest software technology that permits account holders to access their accounts online.

Establishing a Gold-Silver IRA with GoldStar Trust Company

For information about setting up an IRA with GoldStar Trust Company, follow this link.

Or, if you would like to talk with us about putting precious metals in IRAs, call us on our toll free number: 1-800-528-1380.