Precious Metals Are IRA Approved
Precious metals have long been recognized for their capacity to hedge inflation and crisis risks, yet how do they fit into your retirement savings plans?
First step to creating an IRA portfolio: select and secure an IRA custodian who will purchase and store physical precious metals for you. Many providers provide educational materials and can assist with selecting products appropriate for your portfolio.
Gold
Gold is one of the premier investments available when it comes to precious metals IRAs, serving as both an effective inflation hedge and providing tangible assets with tax advantages for retirement portfolio diversification.
If purchasing gold for an IRA, make sure that it meets IRS purity standards. Examples of approved gold products for IRAs include American Eagle bullion coins, Australian Kangaroo/Nugget Bullion Coins, Chinese Panda Coins, Austrian Silver Philharmonic Coins and British Britannia Coins.
Monex account representatives can assist in creating a Traditional, ROTH, SEP, SIMPLE or Rollover IRA to invest in eligible gold and other precious metals. We advise choosing an IRA custodian that offers segregated storage to protect your investments against mixing in non-IRA holdings into the account.
Silver
Silver IRAs provide an exceptional way to diversify an investment portfolio with their low correlation to paper assets and long-term growth potential.
Silver must meet certain purity standards to qualify as an investment retirement account (IRA). Bullion dealers who work with IRA custodians typically carry an assortment of eligible coins and bars that meet this criteria, and often also have a preferred storage depository that streamlines the process.
Utilizing a reliable dealer is key for adding silver to your retirement portfolio easily and hassle-free. They will assist with setting up or rolling over an existing self directed IRA to get you underway, and will ensure all purchased precious metals meet IRS guidelines and are stored safely – often providing free information packs along the way!
Platinum
Platinum may be rarer than gold and silver, yet it serves a variety of industrial uses. From dental crowns and catalytic converters to magnets and even weights and measures standards (the international kilogram contains 90.8 percent platinum) it serves multiple industrial purposes and as radiation shielding in nuclear reactors.
Investors can invest in precious metals through a Self-Directed Precious Metals IRA, similar to traditional or Roth IRAs, with minimal paperwork involved. The first step involves choosing a reliable dealer and selecting IRA-eligible bullion products such as rounds, bars or coins produced either by national government mints or NYMEX/COMEX approved refiner/assayers – minimum fineness requirements must also be met in order for these assets to qualify as investments for this IRA account.
Once you’ve identified items to invest in, the next step should be finding a custodian who will store physical metals securely for you. An ideal custodian would keep them segregated from other investors’ metals in a separate depository facility.
Palladium
Palladium, one of the Platinum Group Metals (PGMs), can only be found naturally in South Africa and Russia; recycling used catalytic converters from automobiles is another source.
Like stocks and bonds, precious metals like palladium are non-dollar-denominated investments whose values don’t fluctuate with fluctuations in the US dollar’s value. This quality makes palladium an appealing asset to diversify one’s portfolio with.
Palladium can be purchased physically through Monex and other bullion dealers as an IRA approved metal, but due to IRS code restrictions requiring precious metals be stored at federally insured depository vaults instead. Luckily, many trusted IRA custodians exist that can safely store your metals at one of their storage facilities so as to reduce risks related to unauthorized accessing and avoid unnecessary fees like account setup, transaction, and storage fees.
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