IRA: Investing in Gold – Buy or Sell your IRA Investment Gold at Vermillion Enterprises
Vermillion Enterprises understands not everyone is a Numismatic (Coin) Collector or Safe Haven Precious Metal Holder. Some are looking for IRA investments. If you’re looking for IRA Eligible Gold, Vermillion Enterprises has a wide variety of Gold to choose from. First, let’s discuss how Gold falls into an IRA.
A Gold IRA is a special type of retirement account that allows you to invest in eligible precious metals. The rules are the same as those for any other IRA. Except you can add Gold and other precious metals to your account. Whereas regular IRA’s focus on stocks and other paper assets.
We are precious metal specialists. However, we are not IRA specialists. Therefore, we do request that you check with an IRA specialist PRIOR to making any purchases for IRA investments. Be all in on your investment.
Precious Metals IRA is a Self-Directed IRA
A self-directed individual retirement account (SDIRA) is a type of IRA that can hold a variety of secondary investments. Normally prohibited from regular IRAs. Regulated by a custodian or trustee. Yet, directly managed by the account holder. Hence, self-directed.
Available as a traditional IRA. Which you make tax-deductible contributions. Or a Roth IRA. Which you take tax-free distributions.
The benefit of a Self-Directed IRA is that you can invest in what you know. Your Self-Directed IRA account can buy:
- Precious metals
- Real estate notes
- Limited partnerships
- Commercial paper
- As well as many other types of assets.
The IRA Custodian maintains and updates all documentation relating to your IRA. Thus, taking the bull out of your bullion investment.
Typically, you will need to already have an IRA Custodian and Precious Metals Account PRIOR to purchasing. However, please check with your IRA Custodian for exact rules and regulations.
Common Questions Regarding IRA Eligible Precious Metals:
Q: How do I open a Self-Directed IRA (SDIRA)?
A: With most IRA providers, you can only open a regular IRA (traditional or Roth). Thus, only able to invest in the usual suspects: stocks, bonds, and mutual funds/ETFs. If you want to open a self-directed IRA, you’ll need a qualified IRA custodian that specializes in that type of account. Not every SDIRA custodian offers the same range of investments. i.e. Gold Bullion may not be in a custodian’s offerings. But a little digging for a Gold Custodian could be rewarding.
Additionally, they may be able to roll your current IRA or 401k into a Precious Metals IRA Fund. In turn, used to purchase precious metals. Again, you’ll need to speak to a custodian regarding this first.
Q: Do you have a Precious Metals Custodian you recommend?
A: Unfortunately we do not have any recommendations. However, please see links below for Custodians widely known and respected.
- Raymond James Financial
- Raymond James & Associates
- Courtney Kershaw, 310-285-4506
- J.P. Morgan Securities
- Merrill, Lynch, Pierce, Fenner & Smith, Inc.
Q: What do you recommend for my SDIRA?
A: It is our recommendation that any investor looking to diversify their portfolio should include physical metals along with their other assets. Most precious metals investors suggest reaching approximately 10% of your net worth in physical vehicles such as precious metals.
Q: Can I put any kind of Gold in my IRA?
A: It is possible to put Gold in an IRA. However, IRAs do not accept all types of Gold. The IRS has certain requirements for any type of Gold you wish to include in your IRA.
So what does it look like to hold GOLD in a self-directed IRA?
First of all, there are three “types” of precious metals:
Bullion: The value of gold bullion is based solely on the metal content of the coin, bar, or round.
Semi-numismatic: The value of semi-numismatic coins is based both on the content value of the metal, as well as the potential collectible value of the coin.
Numismatic: Numismatic coins are valued primarily for their rarity, collectability, and mint date, rather than for their metal content.
Bullion primarily funds a Precious metals IRA. Including Proof American Eagles.
Q: What are the IRA Gold Requirements?
A: You should ALWAYS first check with your IRA Custodian regarding IRA Gold Requirements. However, in a nutshell:
- The Gold must be at least 99.5% fine to qualify for an IRA.
- Rounds and bars: Fabricated by an approved manufacturer. Otherwise, may not be acceptable.
- The IRS does not permit you to purchase any metals that you personally own. However, purchasing from a Second Hand Dealer, such as Vermillion Enterprises, is still acceptable. You would need to speak to your Custodian PRIOR to any IRA purchases first.
- In order for Proof Coins to be eligible: Must come in the original Mint packaging with Certificate of Authenticity. Not graded.
Q: Are collectible coins eligible for Precious Metal IRAs?
Q: What is Unacceptable in a Precious Metal IRA?
A: The following list represents some of the coins that are not acceptable in a Precious Metal IRA.
- Rare or collectible coins, including certified or graded coins
- South African Krugerrand
- Swiss Franc
- French Franc
- Belgian Franc
- German Mark
- Mexican Peso or Ounza
- Chilean Peso
- Italian Lira
- Hungarian Korona
- Austrian Corona and Ducat
- U.S. Liberty
- U.S. Buffalo Proof
- Dutch Guilder
- British Britannia under .9999 fine
- British Sovereign
Let’s Discuss IRA Eligible Gold
Now for the good stuff! What Gold IS IRA Eligible? Vermillion Enterprises offers a wide variety of IRA Eligible Gold.
**This list represents the most popular bullion products allowed in IRAs. Additional products may be acceptable. Please check with your IRA Custodian.
**Please note that our stock is not always inclusive of what is on the list of eligible Gold. However, we do ALWAYS have a healthy stock of American Gold Eagle bullion and proof coins.
- American Gold Eagle bullion and proof coins
- American Gold Buffalo bullion coins (NO Proofs)
- Canadian Gold Maple Leaf bullion coins
- Australian Gold Kookaburra bullion coins
- Mexican Gold Libertad bullion coins
- Austrian Gold Philharmonic bullion coins
- Bars, rounds and coins manufactured by refiner, assayer, or manufacturer, must meet the requirements below:
- Accredited by:
- ISO 9000,
- Or a national government mint
- Meet minimum fineness requirements.
- Accredited by:
Minimum Fineness Requirements:
- Gold = .995+
- Platinum = .9995+
- Silver = .999+
- Palladium = .9995+
- Small bullion bars (i.e., bars other than 400-oz gold, 100-oz gold, 1,000-oz silver, 50-oz platinum and 100-oz palladium bars) MUST BE manufactured to exact weight specifications.
In conclusion, Vermillion Enterprises may not have the answers for all of your IRA Eligibility questions. However, we DO HAVE plenty of IRA Eligible Gold IN STOCK. Call or Stop by! We offer the best customer service experience AND the fairest prices around!
Vermillion Enterprises – THE BEST place to turn your gold into cash or turn your cash into a gold investment. At Vermillion Enterprises we have friendly customer service first and foremost. Additionally, we are a reliable and reputable local dealer. Plus, we take interest in your investment.
If you live in or near Spring Hill, Lutz, New Port Richey, Hudson, Crystal River, Inverness, Brooksville or surrounding Florida locations. Stop in at Vermillion Enterprises for some amazing Gold prices today. Whether you buy or sell, Vermillion Enterprises will treat you well!
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