| Author |
 Replies: 11 / Views: 1,318 |
|
|
Valued Member
United States
98 Posts |
Has anyone had experience with using Silver Eagles and Gold coins for
their personal IRA's?
Just thought it would be an interesting subject to bring up since
the recent rise in value of Gold and silver.
Thanks.
|
|
|
|
Member
United States
3242 Posts |
You can only sell Metals IRA's at a stated date with the not when gold a silver makes a big jump up or down IRA's you are lock in for a time stated in the form you have to fill out. somewhat like US saving bonds but gold&silver have beat the stock market by 10-25% as of 1992-2006 they are a wise thing if you can put $10,000.00 plus in one!
|
|
Valued Member
United States
344 Posts |
I would just be careful in this field of play. THe sites below is why I feel this way. The credentials are great though it seems this company any many more like them are being protected by ICTA. AND Hardworker2 HOW MANY PEOPLE HERE KNOW ABOUT ICTA and ALL ITS MEMBERS SUPPORTING THIS ? http://www.universalcoin.com/The plight the are headed in below: The number of plaintiffs is set to double with the claim amount moving closer to $1 billion http://www.resourceinvestor.com/peb...?relid=29701 |
|
Member
United States
3242 Posts |
that's very true mishap-coins but if you use a good company that deals only in metals IRA's
Do some checking before you leap!!!!
|
|
Pillar of the Community
United States
2335 Posts |
This is not something I would do. In my opinion bullion is not a better investment than stocks or real estate. When you buy bullion you pay a premium over melt, when you sell you sell for less than melt. It's hard to overcome this handicap.
|
|
Pillar of the Community
United States
2335 Posts |
quote:
gold&silver have beat the stock market by 10-25% as of 1992-2006
I'm not sure where this information was obtained. On 01/01/92 the DOW was at $3,172, 12/29/06 it was at $12,463, or almost 4 times higher. I'm having a hard time getting an exact price on gold, but it looks like prices in 92 were around $300, and about $650 in 06. Even allowing for error in my numbers that's not much more than a double. I don't have the figures for silver, but I think in the same time period it has done better than gold, maybe a triple? If anyone has better bullion figures than mine maybe they could post them. |
|
Pillar of the Community
United States
2269 Posts |
I think silver hovered around $5.00 for most of the 90's.
|
|
Pillar of the Community
United States
2254 Posts |
quote:
In my opinion bullion is not a better investment than stocks or real estate
It may not be better, but I don't think it's that much worse. The premium you mention is true, but it's not like it costs you nothing to buy and sell real estate. From taxes to capital gains to closing costs, the percentages probably work out to around the same, don't you think? This is more of a question honestly since I don't know exact figures. |
|
Member
United States
3242 Posts |
Real estate is good in my mind. but stocks I do not trust any more with all CEO taken the golden shut in payment after they have ran company in the ground. I still remember ENRON and we all should no stock is safe anymore!
|
|
Pillar of the Community
United States
882 Posts |
For those who don't know much about stocks and bonds, buying some gold or silver sure beats letting your money sit in a savings account. To make my investments more "diverse" I would have some metals, stocks, and bonds. Just put the most of your money in something that you feel comfortable with.
Ty
|
|
Pillar of the Community
United States
2335 Posts |
Like Tykimeister, I think the important thing is to diversify & be comfortable with your investments. I have done well in the past with real estate & stocks, so that's where I invest. I can see a place for bullion in a diversified portfolio, but in my view it would be a very small part(less than 10%). On a side note, I think it's criminal that some CEO's treat public companies like their personal piggy bank.
|
|
Valued Member
United States
218 Posts |
I agree with several people here that diversifying your retirement income is the way to go. I don't trust the stock market that much but I have had good luck with investing in mutual funds using dividend reinvestment options. as previously said, a portion invested in metals is a good idea. I agree with the 10% amount. Also, some money market funds are paying a small but reasonable interest rate. Especially looking at savings accounts these days. Talk to an IRA representative at your local bank or brokerage house. They can help you decide what is best for you according to the risk factor you are willing to take.
|
| |
Replies: 11 / Views: 1,318 |
|
Posted 03/19/2007 10:52 am
