Getting Pms In An Ira - Coin Community Forum

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Author	Replies: 4 / Views: 1,673
GoThunder Pillar of the Community United States 830 Posts	Posted 06/29/2011 12:14 pm Ok I have put PMs in my IRA the easy way (GLD and SLV), but has anyone here put physical PMs in their IRA? I know it can be done just wondering if it is worth the cost and hassle. BTW just added 300 shares of SLV this morning, but I've had GLD in there most of the time since gold was about 320/oz. Report this Post to the Staff

Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 06/29/2011 11:30 pm I don't invest in paper Pm's personally, but more power to those who do it wisely, via the correct company and stock.... As far as physical Pm's into IRAs, all I know about it, is at Provident metals, they list the AGE as a gold coin which is eligible to be added, but I have no idea how it works. I am sure someone may chime in hear with some info in that department.... http://www.providentmetals.com/bull...s-g/age.html Here is a direct copy and paste from paragraph from link above.... Holding Options -- American Gold Eagles can be purchased for private holding, yet they are also eligible for IRA investments. Please call us for questions about adding precious metals to your self-directed IRA. Edited by Silverhawk74 06/29/2011 11:31 pm Report this Post to the Staff
GoThunder Pillar of the Community United States 830 Posts	Posted 06/30/2011 11:01 am Yeah it seems to be less than ideal to have the physical PM in an IRA, if you still have the exposure or risk of not having the metal in your personal possession and have to pay for storage. Unless there is a way to put it in the IRA and still hold it in your possession. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 06/30/2011 11:55 am Unless you can afford to invest high five or six figures in physical PMs for an IRA, it is not terribly cost-effective. You never get to see your actual metals as they are held by a third party storage company. And of course, there will also be brokerage fees for buying and selling(higher than for paper ETFs) in addition to storage fees assessed by the depository institution. The fee structures typically decline percentage-wise with increased holding levels which makes it more cost-effective for high-end investors but no so cost-effective for the poor retiree that can only afford a few ounces. Report this Post to the Staff
GoThunder Pillar of the Community United States 830 Posts	Posted 06/30/2011 12:27 pm Yeah, I'm not wanting to pay a 3rd party for storage. I was taking to my accountant a few months ago and he wasn't sure but mentioned he was had people wanting to put collectible cars or even houses in their IRA but that then you have to prove you aren't also using the car or house (basically that you haven't withdrawn your IRA contribution for use before you retire) You also have to get an appraisal to prove the value at the time of contrbution. So there might be a way to put coins in the IRA and still hold them physically. I hope Edited by GoThunder 06/30/2011 12:30 pm Report this Post to the Staff
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