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Do you charge commission as the dealer for IRA precious metals transactions?
No. Our only part of the IRA contribution process is selling the actual metal to the custodian, which we do at our normal rates with no commissions or surcharges added.
How do I know my metals are actually there?
Most depositories, including Delaware Depository, provide full accounting and reporting services to ensure your metals are safe and accounted for. All metals are also fully segregated from other customers’ metals at no additional cost and are insured for their full amount.
What are the tax benefits of investing in a precious metals IRA?
Investors can expect to see significant tax savings by investing in precious metals using an IRA vs. investing outside an IRA. Please see the section above to learn about the tax benefits of using a traditional or ROTH IRA to invest in physical precious metals.
Do I have to pay the shipping on my home storage IRA precious metals purchase?
As we ship all orders completely free of charge, you will not have to pay any shipping fees. Furthermore, all of the packages we send out include insurance and tracking as well at no additional cost. This means you will be able to track your package while it is on its way to your home. Customers can rest easy knowing their metals are fully insured in the rare occurrence of loss or damage while the package is in transit.
Why is a self-directed IRA better than an ETF like GLD?
We do not provide investment advice, but many of our clients prefer self-directed precious metals IRAs because they are backed by real, physical, segregated metal, vs. an ETF like GLD which is only backed by a pool of gold holdings and positions.
How do I buy coins to put in my IRA?
If you wish to have your coins held in an IRA we can act on your behalf and deal with your custodian to ensure safe, quick, and hassle-free delivery of your coins. Like us most IRA Trust companies also use Delaware Depository to hold your coins so this would be a simple electronic transfer, we sell the coins and transfer them to your IRA, once we are in receipt of full payment.
What precious metal products are not eligible for IRA?
To qualify as an IRA-approved product, precious metals must meet minimum fineness levels. The American Gold Eagle is the only exception to the following numbers. Minimum gold fineness: .995. Minimum silver fineness: .999. Minimum platinum fineness: .9995. Minimum palladium fineness: .9995. Any products falling outside of these ranges, excluding American Gold Eagles, are not approved for IRA contributions. Examples of non-approved precious metals products include pre-1933 gold, gold Krugerrands, and 90% US silver coins.
Can I roll over or transfer an existing IRA to a self-directed precious metals IRA?
Yes. Your self-directed IRA custodian can help you arrange to rollover or transfer your existing IRA into a precious metals IRA.
How long does it take to roll over an existing 401k/IRA?
This will vary based on which custodian you choose. It can take 2-4 business days to open your account once they receive your application. After your account is set up you will then have to fund it.
Once I receive my old 401k funds, how long to I have to deposit them into my new precious metals IRA?
In the case of a 401k rollover, your funds are generally paid directly to you. Once you have the funds in your possession you have 60 days to transfer them into your new self-directed IRA account. If you do not do so within this 60-day period, you may be required to pay taxes. In order to fully understand these rules, we recommend talking to a tax advisor before transferring any IRA funds.
Am I allowed to have more than one IRA?
Yes, an individual is allowed to have more than one IRA account. However, your total yearly contribution will remain at the same maximum no matter how many IRAs you have.
What are the tax benefits of investing in a precious metals IRA?
Investors can expect to see significant tax savings by investing in precious metals using an IRA vs. investing outside an IRA. Please see the section above to learn about the tax benefits of using a traditional or ROTH IRA to invest in physical precious metals.
Are there any IRA contribution limits?
Yes, you may be subject to IRA contribution limits depending on your type of IRA and income levels. Please consult with your IRA custodian to learn of any contribution limits you may be subject to.
If I invest in an IRA, do I still receive the physical metals?
No. As part of the IRS’ rules regarding precious metals IRAs, we, as the dealer, MUST ship the products to an approved IRA depository, who then holds the metal until the time you are ready to liquidate the position.
Will I ever be able to take physical delivery of my precious metals held in my IRA?
You can liquidate or take possession of your metals at any time. However this is considered a distribution and there may be tax implications involved. We recommend speaking with a tax professional before making this decision.
What are the typical custodian and holding fees?
Fees vary depending on the size of your account and the metal holdings in your depository. Please contact either your IRA custodian or your depository of choice to learn more about fee structures.
Can’t find the answer you need? Email us at info@wallstreetmetalsira.com.
