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Did you know you can use your Individual Retirement Account to obtain gold bullion coins? First ask your current IRA custodian to see if they provide precious metal custodial accounts. If they cannot , Sterling Trust and Goldstar Trust are two examples of several passive precious metals IRA custodians that will hold your physical gold for you. Traditional, Roth, SEP and Simple IRAs all qualify.

This is How it Works :

1)      Create an IRA custodial account with an approved IRA custodian

2)      Arrange a distribution from your IRA and rollover the funds to the custodian

3)      Sendyour custodian a check for one year of storage fees: around $125

4)      purchase your gold coins through the dealer of your choice

5)      Sign the invoice and deliver it to your custodian and they will arrange payment to the dealer

There are limits on what kind of gold coins you are allowed to purchase with your IRA. These limits are established by the IRS. Currently authorized gold coins for IRA purchase include:

• American Eagle coins
• Australian Kangaroo/Nugget coins
• Austrian Philharmonic coins
• Canadian Maple Leaf coins
• US Buffalo Gold Uncirculated coins (no Proofs)

Note: Krugerrands are not allowed. Also, coins including the American Eagle that are “slabbed,” (coins that have undergone certification) are not allowed either.

The only risk I can see here aside from the annual storage fee is these coins can be easily confiscated. Ina perfect world that could never come about but you and I don’t live in an ideal world. I would like to have physical possession of my gold but that is really just a personal preference and preserving some physical gold in an IRA where you won’t have to pay by capital gains if you sell is a clever long term strategy.