All About Gold IRAs – An Overview
If you are like most investors, you have been hearing a lot about gold IRAs. Gold IRAs are one of the best ways to accumulate assets towards your retirement, because the way they are structured ensures that the gold will hold its value far better than paper investments such as stocks and bonds. Further, unlike other investments, gold is something you can touch and feel: a real, solid object that can be accumulated to ensure your future comfort. Before rolling over your current IRA, however, you want to do your due diligence so that you will understand what it is, and what to expect when you invest in one.
What is Gold IRA?
A Gold IRA is, literally, an IRA where you are investing in gold. Your investment will be in the form of either gold coins or gold bars. Because a Gold IRA is a self-directed IRA, the setup is a little different to the IRAs you are used to. While you will not be able to hold these coins or bars on your premises, you will have access to them, which means that you can go and visit your gold at the Delaware depository, which is licensed by the NYMEX COMEX and is fully insured by Lloyds of London, when you want to. You will also be able to choose how much gold to buy and when to buy it.
How Does Gold IRA Investing Work
Investing in a Gold IRA is not difficult. RC Bullion can help you determine which coins and precious metals to include in your Gold IRA. Money is then rolled over from your current IRA into the new account. RC Bullion will help you decide when to purchase gold and what products to purchase for your Gold IRA. Once the order is placed your metals will be delivered to the Delaware Depository under your name. RC Bullion makes sure your purchase complies with all tax rules and government and IRS regulations so that the transfer is tax-free.
How To Buy Gold in your IRA
Buying gold for an IRA is a bit different from buying gold coins for collecting purposes. When you want to purchase gold for your self-directed Gold IRA, you give us a call and speak with one of our account executives about which metals you wish to purchase. Once the money clears we ship the metals to the Delaware depository under your name.
Gold IRA Rollover–How Do I Rollover My ira into Physical Gold IRA–Tax Free
Rolling over your Gold IRA is easy, especially if you have your IRA through your employer. If you are rolling over an IRA from your employer, RC Bullion will work with your company’s IRA administrator to complete the paperwork for your signature. If you are starting from a non-employer IRA, RC Bullion will be able to help you obtain and fill out the proper paperwork, We will buy the gold for your Gold IRA, and place it in the Delaware depository where your assets will be stored
Gold IRA rollover is easy to accomplish. Further, when done right, there are no penalties or tax consequences for rolling your retirement funds into a self-directed Gold IRA account. Once your money has been rolled over into a Gold IRA, you have the certainty that you are in charge. You will instruct RC Bullion on all aspects of your gold purchases. Most importantly, you will have the certainty of having invested in gold, whose value does not fluctuate the way paper investments do.
401k To IRA Gold
Some people are not aware that you can roll a 401K from a former employer into a Gold IRA without incurring penalties. Not only can you do so, but having a gold dealer like RC Bullion will ensure that the rollover goes seamlessly. RC Bullion will work with your 401K administrator to make sure the transfer of funds occurs with total compliance, so that there are no adverse tax consequences. RC Bullion is familiar with all the regulations that need to be adhered to when rolling over funds from a 401K plan into a self-directed Gold IRA account. We will supply the appropriate paperwork, and make sure that everything is filed in a timely manner, so that your funds transfer can go smoothly and without a hitch.
Self-Directed IRA Gold
In order to hold gold in an IRA, you need to create a self-directed, IRA Gold account. Unlike a regular IRA account, which has restrictions on what types of investments you may use, a self-directed IRA allows you to choose the type of assets you wish to hold. Most regular IRAs do not permit the holding of gold, silver, or other precious metals, so you will need to create a self-directed IRA account to hold gold, silver, platinum and palladium for your retirement. One of the advantages of having a self-directed IRA Gold account is that you can specify how much gold to purchase and when you want it purchased.
Convert Roth IRA To Gold
Many people do not know that you can convert a Roth IRA to Gold without incurring penalties or other tax consequences. Again, to do so you and a custodian would first need to set up a self-directed Gold IRA account with RC Bullion. Then we would instruct your Roth IRA administrator to roll over your Roth IRA into the new Gold IRA account. We will work with your Roth IRA administrator to make sure the rollover goes seamlessly. Once your funds have been transferred from your Roth IRA to a Gold IRA, we will advise you on which metals to purchase.
Can you hold gold coins in an IRA?
You may hold only certain gold coins and bars in your Gold IRA. These are coins that are approved by the IRS and the Federal government. The reason these coins have been approved is that they meet exacting standards for gold content. In order for a gold coin of bar to be approved for use in a Gold IRA it must be 99.95% pure or better. This ensures that all the gold in your Gold IRA account will have the same value. Again, not every gold coin is eligible for use in your self-directed Gold IRA. You may not hold gold coins such as South African Krugerrands or numismatic items like certified or graded coins – whose market value is not based on the value of the gold in them but on their numismatic worth – cannot be held in an IRA.
IRA Approved Gold Coins
There are certain gold coins that have been approved by the IRS for deposit into your Gold IRA. These coins are the American Gold Eagle proof coins (which come in the following bullion sizes: 1 oz., ½ oz., ¼ oz., and 1/10 oz.), American Gold Eagle coins (which can only be made from gold mined in the United States), Canadian Maple Leaf gold coins, and the Austrian Philharmonic gold coin. These are all coins that have been determined to meet the strict quality conditions set by the Federal Government for coins permissible to hold in an IRA because they are all 99.95% or better pure gold. RC Bullion will make sure that only government approved gold coins will be used for your Gold IRA.
Gold IRA Storage
There are two types of Gold IRA storage permitted: non-segregated, where your assets are mixed with the assets of others; and segregated, where your assets are held separately from other people’s assets. In either event, your assets must be held in a secure place that is not in your home. A good Gold IRA dealer, such as RC Bullion, will have a depository they use for all of their clients’ accounts. RC Bullion uses the Delaware depository, and always insists that their clients’ funds be held in segregated accounts. If you live near the depository, you will be able to visit your gold, if you wish to do so.