Precious Metals for Your IRA

1. What is an IRA?

An IRA is an Individual Retirement Account and offers a tax-free or tax-deferred way of saving for retirement. Go to the Internal Revenue Service’s IRA page to learn more.

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2. What kind of IRA allows precious metals?

The IRS has allowed specific types of IRAs to hold gold, silver, platinum, and palladium bullion that is approved by the IRS. These “self-directed” IRAs allow the investor to choose where his or her IRA funds will be invested. A self-directed IRA gives you the flexibility to invest in precious metals, stocks, bonds, and other investments of your selection.

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3. What if I want to add precious metals to my IRA but already have an IRA?

Investors with existing IRAs can rollover or transfer their funds to a precious metals IRA. Simply open a precious metals IRA and authorize the transfer. Be sure to contact a tax professional to walk you through the steps of rolling over your funds.

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4. Can I contribute bullion or coins I already own?

No. Except in the case of transfers or rollovers, all contributions must be made in cash.

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5. Which precious metals are allowed in my precious metals IRA?

Previously, only gold and silver American Eagle coins were allowed into a precious metals IRA. However, IRA regulations changed in 1997 and a variety of bullion that meets the minimum purity requirements are now approved for inclusion into a precious metals IRA account. Go here for the complete list.

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6. Who holds my precious metals?

At your direction, an IRS-approved precious metals custodian manages your physical precious metals.

The custodian may choose to hold your IRS-approved gold, silver, platinum, or palladium at a safe and secure precious metals depository. Just as with any other investment, updates on the status of your investment and earnings will be available to you at any time.

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7. What is the minimum amount I can invest?

The minimum amount to establish a precious metals IRA is $5,000. Subsequent purchases must be at least $1,000.

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8. What if I want receive my disbursements?

Whenever you choose to take disbursements from your IRA account, you may receive your physical bullion or convert your precious metals to cash through your bullion dealer. Before taking disbursements, you should seek sound financial advice from a tax professional to understand any tax implications.

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9. How do I begin?

To buy IRA-approved bullion or ask questions about our selection, call Northwest Territorial Mint at 800-344-6468. For questions about setting a precious metals IRA, contact GoldStar Trust at
800-486-6888.

Go here to find more information on GoldStar Trust’s fee chart.

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