Why Precious Metals?
Throughout the history of money, two simple facts have remained unchanged. A diversified portfolio is usually more secure than an un-diversified one and precious metals can be a good shield against value erosion.
These retirement vehicles have become repositories for many alternative investments that otherwise would be ignored by most mainstream investors. Think unlisted real estate investment trusts, promissory notes and private-placement securities.
Self Directed Precious Metal IRA accounts have been around for years, but they’ve been gaining popularity recently among do-it-yourself investors looking to expand beyond stocks, bonds and treasuries. You can view some more options of precious metal ira’s on this website.
What Type of Precious Metals Can be Held in an IRA?
Gold Bars & Coins – At present, gold bars with a purity of 24 karat (0.995+ fineness) are allowed into an IRA. They must be hallmarked by a NYMEX– or COMEX-approved refiner/assayer. These bars come in the following sizes: 1 ounce, 10 ounces, kilo (32.15 ounces), 100 ounces, and 400 ounces. Gold coins having a purity of 24 karat (0.9999 fineness) are the only coins allowed in an IRA, with the exception of the 22 karat US Gold Eagle. Readily acceptable for gold IRAs are bullion coins from America, Australia, Austria and Canada. The South African Krugerrand, being a 22 karat bullion coin, is not allowed.
Silver – Regarding silver investments, only silver coins and bars with 0.999+ fineness are allowed to be placed into an individual retirement account. These include the 1 oz. US Silver Eagle, Canadian Silver Maple Leaf, and the Mexican Silver Libertad bullion coins. Investors can purchase 100 ounce silver bars as well as 1000 ounce silver bars. Pre-1965 US silver coins (dimes, quarters, half dollars, and silver dollars) are not allowed in an IRA because the alloy used in these coins contains only 90% silver, which does not meet the fineness standard.
Platinum Group Metals – Platinum and palladium bars and coins of 0.9995+ fineness can also be placed into a precious metal IRA with our Florida-based self-directed IRA administration company. Both the US and Canadian Mints make 1 ounce platinum coins. Other countries, such as Great Britain and Australia, have 1 ounce platinum coins which are not as well known but still qualify for placement in an IRA. All platinum and palladium bars and coins must be from a NYMEX or COMEX approved refiner/assayer.