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IRA


 

 

PRECIOUS METALS IN YOUR IRA

GOLD AND SILVER

 

Including Traditional, Roth, SEP, Simple, and Self-Directed IRAs

Gold bullion and silver bullion were approved for IRA s in 1997. Previously, the only forms of physical gold or silver approved for IRAs were Gold Eagles and Silver Eagles. This change was especially beneficial to IRA investors who prefer silver.

One-thousand ounce and 100-oz .999 fine silver bars sell at small premiums to spot price, while Silver Eagles that carry premiums that easily can exceed $1.60 an ounce. IRA investors now can get much more silver for their IRA investments.

Another significant change was the inclusion of platinum and palladium, two other popular precious metals. Although this change offers IRA investors the opportunity to diversify their investments into other precious metals, IRA account holders should do serious research before passing up gold or silver to invest in platinum or palladium.

Gold Eagles are the only gold coins specifically approved for IRAs. Other gold coins, to be eligible as IRA investments, must be at least .995 fine (99.5% pure) and be legal tender coins. This provision means that the popular gold coins from The Perth Mint's Lunar Series are eligible to be put into gold-silver IRAs. Other eligible gold coins are Canadian Gold Maple Leafs, Australian Kangaroo-Nuggets, and Austrian Philharmonics

Conversely, many gold coins, such as Krugerrands (91.67% pure) and old US gold coins (90% pure), are not legal investments for IRAs. Although American Gold Eagles are specifically mentioned in the law that governs IRA investments, CMIGS recommends the year 2006 1-oz Gold Dogs for investors who prefer gold.)

Silver Eagles are the only silver coins specifically approved for IRAs. However, Silver Eagles carry high premiums, which could shrink in a rising market. For IRA investors who prefer silver, CMIGS recommends bullion bars, either 1,000-oz silver bars or 100-oz silver bars. Pre-1965 US 90% silver coins are not eligible for IRAs. 

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