Precious Metals for Your IRA?

In 1997 IRA regulations were changed, now permitting gold bullion and silver bullion for IRAs. Prior to that, only specific bullion coins, Gold American Eagles and Silver American Eagles were acceptable. The 1997 change means IRA investors can now invest in a variety of bullion products, particularly with silver.

Another 1997 change was that American Platinum Eagles were now eligible for IRA investment. This change offers IRA investors further opportunity to diversify.

The regulations specifically approve only one gold coin, the Gold Eagle. Other gold coins are indicated as eligible as IRA investments, but they must be at least 995 fine (99.5% pure) and be legal tender coins. Gold Maple Leafs, Kangaroo Nuggets, Philharmonikers, and the Perth Mint's Lunar Series meet this criteria. Conversely, many gold coins, such as Krugerrands (91.67% pure) and old US gold coins (90% pure), do not meet this criteria. (Check with your investment advisor for more information.)

Silver Eagles are the only silver coins specifically approved for IRA inclusion. Silver Maple Leafs meet the purity requirements. Unfortunately, both silver coins carry high premiums that may shrink in a rising market. For IRA investors who prefer silver, other alternatives exist with private label bullion rounds and bars. Pre-1965 US 90% silver coins are not eligible for IRAs.

How To Get Started
Only three simple steps are needed to invest in precious metals in your IRA:

1. Establish (or already have) an IRA account with a custodian who will hold your precious metal investments.
2. Fund the account with regular contributions, transfers and rollovers.
3. Invest in precious metals for your IRA

You will need to tell us your purchase is for an IRA account, because your IRA company will be invoiced for your IRA bullion purchase, and the precious metals will be shipped to the approved depository of your IRA custodian.

Disbursements
When you determine to take disbursements from your IRA, you may choose to convert your precious metals to cash through your dealer, or take a distribution of the actual bullion. This flexibility allows you to take advantage of market conditions before you sell.

Custodian Recommendations
Northwest Territorial Mint recommends American Church Trust (ACT) and Sterling Trust Company for investors who want IRAs that will accept precious metals. We can work with these and other custodians who accept precious metals for IRA accounts.