Gold 401K

Superior Gold Group – What Precious Metals Can I Buy With My Ira?

Many people see the ‘gold rush’ and the need to invest in gold an opportunity to place their retirement funds in a stable precious metal such as gold. You need to check with your retirement fund to find out if you can use your retirement funds to purchase gold and other precious metals.

The market can be a confusing place here a simple guide to help you chose the precious metal IRA, that will improve your portfolio, remember that you will not actually personally hold the metal but it will be held in a depository or custodian who specialise in IRA.

The following is precious metals are acceptable for IRA’s:

• Gold
• Silver
• Platinum
• And Palladium

In the above you can invest in the metal itself not in collectables. Acceptable is coins and bars, and usually acceptable of certain purity. The metal’s purity and fineness is how IRA’s measure the quality of the metal invested and acceptable by IRA’s

IRA don’t invest in those 400 oz gold bars (weighing about 25 pounds) that is often pictured in many movies, those are very expensive items, especially with the recent increase in the price of gold.   But don’t despair, there are other options. Smaller units of bullion and ideal and perfectly acceptable by IRA’s, another options is coins, but not all coins.

Originally government viewed all coins as collectables without exception but that was revised in the mid 1900’s and approved certain coins acceptable.

Coins acceptable by IRA’s fall into these categories:

• Specific coins listed by the IRS revenue code and minted by the United States:
• American Gold Eagle – these are not 100? Pure but 91% pure, and are acceptable.  They can be purchased in the following weights. 1/10 -  ¼  -  ½  – and full ounce.
• American Buffalos – they are of .9999 fine, this is known as 4 nines.
• American Silver Eagles – only available in 1 ounce, acceptable as bullion fineness at 3 nines .999 fineness, this is due to copper being added for extra durability.
• American Platinum Eagles also available in four weights. 1/10 -  ¼  -  ½  – and full ounce. Their fineness value .9995.  check that they are not been graded by certification organizations who have placed them in plastic containers that are tamper-proof.  If you are not sure ask a metals dealer or broker with expert knowledge to help you identify and ensure that they are acceptable by IRA’s
• Some Gold coins will meet the minimum fineness requirement and are not rare enough to merit attention as collector’s items are acceptable. Once again you can check on related websites and obtains advice on these aspects of what is acceptable for IRA’s.

And lastly smaller bullion gold bars but these have to be specifically manufactured to meet the specifications, for amount of metal used, and fineness requirements.

About the Author

The Superior Gold Group is an industry leader in the precious metals investment industry. With 1,000′s of satisfied customers and a long list of highly respected industry partners, the Superior Gold Group can help individuals, corporations and broker dealers alike to satisfy their desire to add gold, silver and platinum to their portfolios

July 26, 2010 Midday Metals Report