Latest Addition To The Hoard!

Yeah, I bed that it does... not!



I agree, GoldEagle. It sure made my day!



Thanks, Trip. Yeah, the Maples and the ASEs are really nice coins to collect. I was surveying my hoard the other day when I realized that I had quite a few more Maples than I had ASEs. This purchase was done to equalize that.



Thanks, CW. Yeah, both Provident and APMEX both do really good jobs with their packaging. Both are secure and anonymous... good traits for valuable shipments.



Oh, I definitely agree with that. I would like to have about 10% of my money in precious metals. Right now, I am at about 3% so have a ways to go.



I'm sure that you will, NYBrian. It just takes some time and some dedication. You will get there, trust me.



Nothing wrong with that, Mac. We all start where we can and then ramp up as we can. I also have some 90% US silver coins and many of them were bought just a few dollars worth at a time. They still make nice additions to my hoard and I do appreciate them. My favs are the Morgan dollars, Mercury dimes, and Kennedy halves but others are nice too.



Thanks, TBK. There is absolutely nothing wrong with "just plugging away". A serious hoard can be built that way and I am sure that any number of CCF members have done just that. I have the luxury of having already made the money that I am putting into PMs, so it's not like I have to work and earn it as I go along. All of the collectors who just buy a few dollars worth of silver every week or two have my admiration. They are dedicated and pursuing their collection as they can. A BIG thumbs up for everyone having the dedication to enlarge their collections this way.

Barry is still the champ, IMHO. I am following in his footsteps.

Thanks, Hawk. I thought that I would be "done" collecting silver when I reached the 1k oz. milestone but can't seem to stop. Maybe some gold would be good at this point?

I sure would like to get some of my TIRA money into gold coins but the companies that offer this seem a little shady to me. I'm sure that most of them are legit but I just can't shake the image.

I have read about self-directed IRAs wherein a local bank is selected as an IRA custodian, a LLC is set up with the state, and the bank told to invest the IRA money in the LLC's account. Once there, many kinds of investments can be made, some of which can be PM bars, rounds, and coins. AGEs and gold Maples are probably the best choices but others can be selected if they meet IRS requirements. The LLC manager (you / me) orders the PMs, pays via a check against the LLC account, and receives the PMs. My understanding is that where this IRA-PM hoard is stored is not specified by IRS rules, so, in theory at least, it is possible to take possession of these IRA PMs. The process doesn't seem all that difficult but consulting with a good tax attorney or CPA who is familiar with such things would be a very good idea, just to make sure that everything is done in a way that is acceptable to the IRS. There is some info on this on the Silver Doctors web site.

Yes, you can IF you very carefully follow all of the rules that the IRS has published on this. It is not an easy thing to do and it would be very easy to make a very expensive mistake. The IRS usually considers a busted IRA as a withdrawal... and fully taxable in the year it is taken. For those folks who have large IRAs, this can be a tremendous tax bite. If one goes the withdrawal route, it would be much better to dribble your IRA out by taking, say, 5-10% of it per year (depends on your exact tax situation), paying the tax due on that withdrawal while leaving the rest to continue to grow (hopefully), and building your PM hoard that way.



It could very well be but anyone doing this needs to have a VERY good security process in place so that such a hoard is not stolen. I favor the disbursement approach where parts of your hoard are stored in various places. I do this now with my silver collection. It is divided roughly into thirds, with 1/3 in a safe at my house, 1/3 in a safe at my son's house, and 1/3 in a safety deposit box at a local credit union. No security method is perfect, though, so we need to be creative with this.