GOLD IRA & 401K's
Adding Precious Metals into Your IRA
Financial professionals across the globe all agree that asset diversification is the key to investment success. Unfortunately, most Americans do not realize that the Internal Revenue Service (IRS) allows investors to place a wide variety of assets into SELF DIRECTED IRA retirement accounts, including Gold, Silver, Platinum and Palladium.
Setting Up a Self-Directed IRA Account
Setting up a Self Directed IRA is simple, however there are mandatory rules enforced by the IRS that govern these types of IRA accounts that must be followed, along with specific reporting requirements. For instance, you may not be in physical possession of the Bullion assets held within your IRA. These must be secured in a depository or independent facility. Fortunately there are companies that specialize in the setting up and administering of self Directed IRA’s .
Purchasing Gold, Silver, or Platinum for Your Account
First Sate Depository does not Buy or Sell any bullion products. The IRA holder is responsible for choosing the previous metals dealer and the type of product. However, make sure you know what products are acceptable. We provide a list below of “Acceptable Coins” that meet IRS regulations.
You are fee to purchase Bullion coins and other IRA acceptable bullion products from ANY bullion dealer, and we will work with your IRA plan administrator to arrange to have the assets transferred and/or delivered to First State.
The IRA Storage Solution - First State Depository
First State Depository has been recognized as one of the nation’s finest Precious Metals Depositories. We not only bring years of experience to the table, in addition to our state of the art security and level 3 storage facility, we are also uniquely positioned to provide you with turn-key solutions to the set-up, purchase and storage of precious metals into an IRA account.
When you set up your Self Directed IRA, Make sure you tell the Administrator that you want to use First State Depository for your Precious Metals Storage.
It is YOUR CHOICE where your assets are stored; any IRA administrator that does not offer you that choice is not looking out for your best interests, but theirs.
The IRA Storage Solution - First State Depository
In general, coins that quality to be included in your IRA must meet minimum fineness requirements, ( the purity of the metal contained in the coin). The fineness standards are as follows: Gold Coins – .995+ | Silver Coins – .999+ | Platinum – .9995+ | Palladium – .9995+
Any coins that have been graded for condition by certification organizations like PCGS or NGC and placed in tamper-proof plastic containers called “slabs”, will generally fall into the collectible category and thus are not allowed for IRAs.
Approved Coins specifically listed in the Internal Revenue Service Code include:
American Gold Eagles
Interestingly, these US minted coins are not of sufficient purity to classify them as bullion. They are only approximately 91% pure gold (22K). The other material in the coin offsets the softness of the gold and makes the coin more durable. Gold Eagles Coins are available in four types: 1/10, ¼, ½ and 1 full ounce coins. Proof Gold eagles are also allowed in your IRA.
American Silver Eagles
Silver Eagles are the only US Mint Silver Bullion coin allowed in your IRA. They have a fineness of only .999 due to the addition of a touch of copper for added durability. The design is beautiful and for those who which to diversify their precious metals holding to include Silver; this is the way to go.
American Gold Buffalos
First minted in 2006, they are the first and ONLY 24K (.9999 fine) pure gold of bullion coins produced by the US Mint. Note that the specially processed proof version of this coin is NOT acceptable due to the treatment raising the value of the coin beyond the value of the metal.
The US Gold Buffalo is a perfect coin for your IRA account. Minted to the highest standards of purity and with the iconic Buffalo Head design, these coins became an instant classic and represent the finest Bullion product produced by the US Mint.
American Platinum Eagles
The rarest of birds, the Platinum Eagles are minted in 4 forms: 1/10, ¼, ½ and 1 ounce coins. These are of .9995 fineness.
Other Legal Tender Bullion Coins from National Mints are also approved for inclusion into your IRA. Note that some of these may carry a slightly higher premium to purchase than their US Mint cousins.
Australian Nugget (Kangaroo) Gold coins..9999 fine.
Australian Kangaroo and Kookaburra Silver coins .999
Australian Koala Platinum coin .9995 fine
Austrian Philharmonic Gold coins .9999 fine
Austrian Philharmonic Silver coins .999 fine
Canadian Maple Leaf Gold coins .9999 fine
Canadian Maple Leaf Silver coins .9999 fine
Canadian Maple Leaf Platinum coins .9995 fine
Canadian Maple Leaf Palladium coins .9995 fine
Mexican Libertad Silver Coins .999 fine
Isle of Man Noble Platinum coins .9995 fine
Some examples of coins that don’t meet the fineness requirements are:
Austrian Corona and Ducat, Belgian Franc, British Sovereign and Britannia, Chilean Peso, Columbian Peso, Dutch Guilder, French Franc, German Mark, Hungarian Korona, Italian Lira, Mexican Peso and Ounza, South African Krugerrand, Swiss Franc and any coin that falls into the “Rare”, and thus collectible, category.
If you’re not sure about the fineness of a particular coin, call us at 302-765-2760 or email us at email@example.com