The IRS permits four kinds of precious metals to be held in an Individual Retirement Account: gold, silver, platinum and palladium. Investments must take the form of coins or bars meeting certain purity requirements.
As an example, silver IRA investments must be manufactured by refiners that have accreditation from major market exchanges and secured with established hallmarks (such as American Silver Eagle coins or Australian Kookaburra bars). Learn more about precious metals IRA rules.
Gold
Gold is one of the most sought-after precious metals for Individual Retirement Accounts (IRAs), providing investors with a great way to diversify their portfolio. However, before making any investments with gold-eligible IRAs or precious metal IRAs it is crucially important that investors understand how such precious metals are regulated before investing.
The IRS allows certain coins and bullion bars to be held in an Individual Retirement Account (IRA), although not just any gold or silver will do. A gold IRA must include bars manufactured from an approved refiner/manufacturer that meet specific purity requirements.
Investing in precious metals can be an excellent way to protect your retirement savings against economic and geopolitical uncertainty, provided it’s done properly. Mountain West IRA can assist with this by finding you an IRA that matches up with your goals and investment strategy.
Silver
As precious metals tend to move independently from the dollar and economy, adding them to your retirement savings can provide a hedge against inflation. Coins and bullion that can be included in an IRA must meet strict acquisition and storage standards; working with an SDIRA-specialized custodian and dealer is the best way to ensure compliance.
The Taxpayer Relief Act of 1997 broadened the list of approved precious metals for inclusion in an Individual Retirement Account (IRA), permitting investors to hold one-, two-, three-quarter and half ounce silver American Eagle coins along with gold, platinum and palladium bullion from any national government mint or an accredited refiner or manufacturer from COMEX/NYMEX LME TOCOM LBMA NYSE/LIFFE ISO 9000 certification program.
No matter your investment strategy, these IRA-approved precious metals make for great additions. To get personalized guidance when purchasing them, consult with a financial advisor for personalized guidance.
Platinum
Platinum can also be held in an IRA. Thanks to the Taxpayer Relief Act of 1997, which expanded what constitutes investments under IRS regulations, more precious metal coins and bullion such as one-ounce Silver Eagle coins or foreign coins minted under their laws as well as bars (bullion) meeting purity standards may now be included in an IRA account.
Precious metals can be an essential element of an overall retirement plan, providing diversification against inflation and currency devaluation while at the same time protecting investors against currency depreciation. Investors must remember, however, that precious metal investments are non-liquid and require careful thought when allocating large allocations. Withdrawals from precious metal IRAs must follow similar regulations as other IRAs; early withdrawal penalties apply if withdrawing before age 59 1/2.
Palladium
When it comes to precious metals, the IRS only permits coins and bars that meet certain purity requirements to be invested into an IRA account, managed by an approved custodian and stored at an approved depository. Due to these requirements, many investors opt for self-directed IRA (SDIRA), working with precious metals IRA companies that use approved custodians and depositories.
Precious Metals IRAs allow you to diversify your retirement portfolio with physical precious metals that provide reliable protection from inflation and other economic pressures. However, not all precious metals IRA companies are created equal; some may not even employ financial professionals who may recommend investments that put profits first over your interests.
Gold, silver and platinum investments that qualify as IRA-eligible are widely known for their ability to rise in value following economic recession, providing peace of mind during uncertain times. They make excellent inflation hedge investments which offer security when markets decline.
