Gold $2022.79 (-0.1%)
Silver $22.69 (-0.25%)
Platinum $909.40 (-0.96%)
Palladium $994.16 (-0.83%)

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Precious Metal IRA FAQ’s

What is a Precious Metals IRA?

Based on your investment goals and objectives, an Individual Retirement Account (IRA) could be an excellent option. Now, based on your preferences, there are different types of investments your IRA can hold. For example, if you’re considering an alternative option, a Precious Metals IRA might fit your goal.

While the common investments for an IRA account include stocks, mutual funds, and bonds, you may not be aware that you have more control over a self-directed IRA. This allows you to choose what you invest in. For example, you can invest in multiple asset classes including precious metals.

Since 1975, individuals have been allowed to invest in gold and silver through self-directed IRAs. Also known as a Precious-Metals IRA, this self-directed IRA account gives you the flexibility to invest in both precious metals and traditional bonds, etc.

There are three major benefits of setting up this type of IRA.

How do I set up my Gold IRA and how long will it take?

Our Account Executives will assist you with your entire Gold IRA application process.

We then get in touch with your current IRA provider to expedite the tax-free rollover of part or all of your retirement assets in the rollover account. The transfer of assets can take up to 5 business days, depending on your current IRA custodian.

The funds are usually transferred via bank wire, and once they have been deposited into your Gold IRA account, you are ready to enjoy the security and safe haven appeal of precious metals. It generally takes one business day to open your Gold IRA and receive your new account number. The time it takes to transfer funds depends on your current IRA custodian but usually averages one-five business days.

How do we move funds from our current IRA to a Gold IRA?

There are two tax-free and penalty-free ways to transfer money between retirement accounts: the 60-day rollover option and the trustee-to-trustee transfer. If you use the 60-day rollover option, your current IRA provider mails a check to your home address. You then simply mail the check to Premier Coin Galleries .

There are no taxes or penalties incurred if you send the check to us and it is deposited into your account within 60 days. Thetrustee-to-trustee process moves your retirement monies from your current IRA provider directly to us so we can get it into your account the quickest way possible.

Our Account Executives will work closely with you to make the transfer process seamless and we will do all of the work to ensure you have no worries.

If I already have precious metals, can I put them in my Precious Metals IRA account?

The government does not allow you to place your personal precious metals into your IRA. Yourmetals must be funded via a bank transfer or put into the account from another IRA.

How is a Precious Metals IRA different from traditional IRAs?

A precious metals IRA allows you to invest in gold, silver, and platinum instead of only stock,bonds, and other investments.

Where are my metals stored?

Premier Coins ships (insured) all precious metals to one of many IRS- approved depository vaults. We have vaults on the east coast, Central and west coats depending on your location. You could decides where the metals go.

What are my depository storage fees?

Fees vary based on your account’s size and the metal holdings in your depository. Depending on your situation,the storage might be free. Please contact our Account Executives for more information.

Is the paperwork complicated

No, Premier will assist every step in the way of the easy process. You only need to provide your basic contact information and the contact information for one other beneficiary you’d like to list on your account. We accept forms via mail, fax, or email—whichever is easiest for you. In addition, we also use DocuSign to capture electronic signatures making the application process even easier; this means that you don’t have to print anything out.

Are there any tax penalties when transfering funds from my IRA to Precious Metals IRA?

No. If you follow the procedures specified in Question No. 4, there are not taxes or penalties. And your dedicated IRA team member will work directly with you to ensure that the proper procedure is followed to ensure that we safely and securely rollover money between retirement accounts in such a way that does not incur any type of taxes or penalties.

What is the determining factor for premiums on gold and silver products?

Premiums fluctuate according to market conditions. Naturally, as demand falls flat, premiums can fall, particularly for secondary market products. Conversely, increased demand leads to an increase in the premiums for precious metals.

Is there an annual contribution maximum to a Precious Metals IRA?

Yes. If you’re younger than 50 years of age, you can contribute a maximum of $6,000 per year. Individuals older than 50 can contribute up to $7,000 per year.

Can I make contributions into the Gold IRA as I normally do with my traditional IRA?

Yes. Your contributions can be used to purchase more precious metals and grow the account over time or to purchase other investments in your IRA.

Can I take physical delivery of my precious metals for my Gold IRA?

To keep the account in good standing with the IRS, you must keep the gold and silver coins and bars in the vaults of an approved depository.

You can liquidate your Gold IRA account and take physical possession of yourmetals at any time, but be mindful of the tax consequences. Doing this before age 59.5 can have serious consequences for your retirement balance. There may be tax implications and penalties, so you should consult with a qualified tax advisor before making any decision.

What happens when I want to take a distribution from my Gold IRA?

Contact your Account Executive and let us know whether you want cash or would prefer your physical precious metals shipped to you directly.

We can arrange secure shipping or assist you in liquidating your precious metals for cash. Your distribution can be wired into your chosen bank account or we can mail a check to you. It doesn’t take long to process your distribution and the funds will be sent out right away.

Please remember that all IRS rules apply, which could mean facing penalties and taxes upon withdrawal before age 59 ½, and that we recommend holding precious metals for five – ten years.

Do we actully own the precious Metals?

When you open a Gold IRA, you own the physical metals. Your assets are stored at an IRS-approved, insured private storage facility called a “depository.” Once you retire (after 59.5) or reach the age when you start taking mandatory distributions, you can choose to either receive the actual physical metals or liquidate the appropriate amount based on current IRS rules.


Nothing herein should be considered as tax or retirement advice as Premier Coin Galleries cannot and does not offer tax advice. Clients should consult an attorney or tax advisor for specific tax or legal advice. Premier Coin Galleries does not guarantee the performance or service of any depository or IRA custodian. Estimated third-party storage and administrative fees are subject to change at the discretion of the selected independent IRA custodian and depository.

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PCG is dedicated to serving those seeking alternatives to the usual paper investments. We are here to answer all your questions and provide the information needed to make educated decisions that fit your personal financial plan. We look forward to hearing from you!

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