You can purchase gold in a Gold IRA account. Why would you?
Here’s a good reason to do it:
In 2001, a ounce of pure gold cost $271. It reached $1.896 ten-years later. This period was also one the most volatile economic periods in recent history. Many banks collapsed and currencies faltered. While these disasters devastated other areas of market, gold thrived. The harsh winds of subprime and credit default swaps, as well as other derivatives, pushed gold to the forefront. Google “gold”, you’ll find tons of talk about gold as the symbol of wealth, original money, and refuge from economic turmoil. Visit our website and learn more about gold backed IRA companies.
For thousands upon years, gold has been the store of wealth for kings or empires. It will protect your purchasing ability – unlike money that can be printed and debased, gold or silver cannot be printed. It is nature’s only true hard asset.
Should a member cash in their IRA to purchase gold?
If you are looking for security, stability, and peace of mind in your retirement portfolio, then the answer is “Yes.”
You can buy silver or gold coins and bullion in a self-directed Roth IRA, Roth IRA or 401 (k) Retirement plans usually offer traditional IRAs (or 401(k),s) that have stocks, mutual fund, annuities, or other assets. Often investors have little or no input in the decisions made regarding investments. With a self directed plan, the holder has the power to make decisions about investments and to, if needed, increase their investment options. Precious Metals can be one of these options.
The investor first transfers their traditional IRA. Current law allows for transfers of IRAs or rollovers from other qualified retirement programs.
How can I buy physical silver and gold in an IRA
Investing with gold or silver within an IRA may be as simple and straightforward as rolling over any paper investments. The transaction is quick and precious metals are an excellent investment. A Self-Directed Gold IRA purchase can be one of the tax most efficient ways to finance your Gold/Silver acquisition.
Silver, Gold or
We’ve been talking about the virtues that gold has, now what about silver.
Many industrial applications use silver. The number of these applications will continue to grow as new technologies are developed. There is a high demand for silver in smart phones, tablets televisions and solar cells. Even more than gold, silver supplies are scarce and there is only one direction for silver prices.
From 2008 to 2010, silver had an upwards movement of $16 per ounce. The price soared past $48.70, a 33% increase. The historical records of the past 15-years show that silver has always maintained a relatively strong position in the market. This is due to the fact that traders are well aware of the safety and legality of precious metals.
Bullion or coins
Bullion can be stored and transported easily as it is possible to stack bars made by the exact same mint. Bullion also offers the lowest premium to spot price for both silver or gold. However, generic bars manufactured by ordinary mints offer no “collectability” factor, which is a disadvantage. Additionally, it may be more difficult to trade large bars (10 oz. gold bars or 100. oz. sterling bars) in a crisis than smaller ones.
For their part, coins have a collectability aspect that bars and rings do not offer. Sometimes, coins like Silver Eagles and American Gold Buffalos can also be legal tender. It’s not wise to use coins for legal tender as coins are worth far more than they are as metal.
Your choice will depend on your financial goals and your personal circumstances.