Gold coins offer more than just bullion value; they also can have historical and aesthetic significance that makes them great gifts for loved ones. Bars may be the better option for investors looking to liquidate their investments quickly and easily, since they’re cheaper than coins but may not enjoy as wide an appeal from customers and require an assay before being sold. Cost Gold bars typically cost less to produce due to reduced production costs; they do not require elaborate...
Read More
We must report any gold sales exceeding a specific dollar threshold to the IRS. However, for customers selling coins such as Maple Leaf Gold coins, Gold Mexican Onza Coins or any 90% silver US coin their reporting threshold is much lower. Due to currency regulations meant to thwart money laundering and drug dealing, this practice also applies to IRA and 401(k) accounts. How much can I sell? Gold is an effective means of protecting wealth in today’s low interest rate...
Read More
If you are considering adding Gold to your IRA, be aware that IRS regulations stipulate it must be stored in an IRS-approved depository with $1 billion worth of insurance protection. A precious metals specialist can assist in choosing an ideal depository for your portfolio. Bear in mind that taking gold home violates IRS regulations and may incur fines or penalties. It’s a hedge against inflation Gold and other precious metals offer an effective hedge against inflation by maintaining their value...
Read More
Custodians are financial institutions that hold an IRA’s investments for safekeeping, meeting government reporting standards. When selecting an administrator and custodian for your Self-Directed IRA, be sure to evaluate fees, investment options and customer service as part of the selection criteria. Be sure to review the IRS list of approved nonbank trustees and custodians for IRAs before selecting your chosen firm. Custodians only act as storage facilities – they cannot offer investment advice or guidance. Trustee or Custodian Custodians are...
Read More
Medallion stamps provide financial institutions with assurance that your signature on a securities certificate is genuine, verifying both that it belongs to you and that they own the shares being transferred. Most financial institutions provide this service at no or a nominal fee for existing customers, usually as part of a Medallion program that assumes liability in case of forgery. Wells Fargo Notary stamps don’t need to be verified and authenticated by banks like medallion signature guarantees; instead, these require...
Read More
