Many investors are attracted to precious metals for their retirement portfolio, yet storing them in an IRA is more complex and time consuming than with other investments.
Before investing, it is necessary to select a custodian that offers self-directed IRAs and offers metals storage depository facilities. The IRS allows only certain coins, bars and rounds produced from national government mints or accredited refiners/assayers/manufacturers as part of IRA investments.
Gold
Gold is an increasingly popular option for protecting retirement savings against the effects of another financial crisis, weakening dollar, or inflationary trends. Though not risk-free investment, gold has historically proven its resilience under these types of pressure. A self-directed individual retirement account (IRA) allows you to diversify your portfolio while also taking advantage of tax breaks afforded to IRA holders.
Investing in an IRA requires purchasing coins and bars that meet IRS standards for an Individual Retirement Account, as well as selecting an approved depository to store it in. Many reputable dealers such as American Hartford Gold make the process easy by clearly marking all IRA-eligible products such as rounds, bars and coins from their inventory which qualify. Each product must contain at least 99.5 pure gold to qualify.
Silver
Silver is an increasingly popular investment choice among those seeking to diversify their retirement portfolio, providing additional tax savings until you’re ready to retire. Like gold, this metal also offers tax deferral until your time comes to retire.
To open a silver IRA, it’s essential that you choose a reputable precious metals dealer with excellent reviews and storage solutions that meets all of your needs. Search for companies offering positive customer testimonials as well as secure storage facilities and being registered with both SEC and FINRA.
Choose from an impressive range of IRA-approved silver coins and bars, such as the American Silver Eagle coin – America’s official bullion coin featuring Lady Liberty on its design – American Silver Buffalo coins or Canadian Maple Leaves could also make good investments for an IRA, along with British Britannia coins and New Zealand Silver Kiwis – each boasting distinctive designs as well as high purity levels.
Platinum
Platinum must conform to the same purity standards set for gold; specifically, its fineness must be at least 99.5 fine in order to qualify as eligible investment material for inclusion in an Individual Retirement Account (IRA). Furthermore, all IRA eligible platinum bullion must come from either a national government mint or an accredited refiner, assayer, or manufacturer.
An SDIRA is the tax-efficient solution to add platinum bullion to your retirement portfolio, as a direct rollover from either traditional or Roth IRA can prevent both taxes and penalties if completed within 60 days.
Consider several factors when choosing an IRA-eligible platinum investment, including premium and liquidity. American Eagle Platinum Coins have lower premiums and provide superior liquidity than larger 10-ounce platinum bars; ultimately it is up to you to choose the ideal mix of bullion and proof products for your portfolio; Birch Gold Group Precious Metals Specialists can assist in this decision by providing details about top IRA custodians and depository solutions.
Palladium
Palladium is a precious metal commonly found in devices like smartphones and car catalytic converters. As part of a family known as platinum group metals (PGM), which also includes platinum, rhodium and ruthenium; palladium is 30 times rarer than gold but essential for many cutting-edge technologies like fuel cells and solar energy production.
An IRA-approved precious metals investment provides you with an opportunity to diversify your retirement portfolio with assets that may be less volatile than traditional financial instruments, while at the same time protecting against inflation, which can diminish purchasing power of other investments.
Self-directed IRAs that include precious metals provide numerous advantages, including tax-deferred investment growth. You can open one with either traditional or Roth IRA funds or roll over existing retirement account funds into it. While this process may take several weeks to complete, make sure that you choose an experienced custodian that adheres to IRS regulations for best results.