Rollover Your Gold and Silver IRA

  • The IRS allows investors to purchase gold and silver for their IRAs.
  • Purchasing gold and silver for your IRA is a straightforward process.
  • The IRS allows investors to purchase precious metals for their IRAs, and the process for doing so is straightforward.

If you have a self-directed IRA, you don't have to be confined to stocks and bonds. Gold and silver, for example, can be part of your IRA portfolio. However, it's up to you to find where to buy and store precious metals.

Gold IRAs

If you have owned physical gold bars or coins, you can transfer those assets into a gold IRA. Your gold IRA custodian should provide you with all the necessary paperwork for transferring ownership of your assets.
When an IRA custodian receives your physical assets, they generally purchase them at the current spot price. The custodian will then transfer ownership of the gold to a gold IRA company. You must fill out a separate form to authorize the transfer.
The custodian will issue you a check for the fair market value of the gold you transferred, less any fees. You can then invest the proceeds in gold, silver, or platinum bars and coins.

Silver IRAs
If you own silver bars and coins, transferring them into a silver IRA has the same process as transferring gold. You must fill out a separate form authorizing the transfer.
The custodian will issue a check for the fair market value of the silver, less any fees. You can then invest the proceeds in silver bars and coins.
If you roll your silver IRA over into a gold IRA, you must have owned silver for at least a year.

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Gold and Silver Exchange Traded Funds (ETFs)
If you own funds in a gold and silver ETF, the process for transferring them into an IRA is the same as transferring physical gold and silver. You must fill out a separate transfer form.
The custodian will issue a check for the fair market value of the ETF, less any fees. You can then invest the proceeds in gold, silver, or platinum bars and coins.



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Silver IRAs

You can roll over your physical silver or gold bullion, coins or bars, to a self-owned IRA. Making this decision will resolve any tax issues associated with the original purchase and allow you to make future investment decisions without tax penalties.
Gold IRAs
Gold IRAs can be rolled over to self-owned IRAs as long as your gold bullion is in the form of coins or bars. If you purchased a gold ETF or a gold certificate, you may be required to sell these assets to the IRA company before rolling them over.

Advantages of Gold and Silver IRAs

Gold and Silver IRAs are exempt from the 10% early withdrawal penalty.

Income from gold, silver, and other precious metals is tax-deferred.

Gold and Silver IRAs are not subject to Required Minimum Distributions (RMDs), unlike standard IRAs, which are subject to RMDs beginning at age 70 1/2.

You can hold gold, silver, and other precious metals as cash in your IRA.

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Your gold, silver, and other precious metals holdings in your IRA are protected from creditors.

Disadvantages of Gold and Silver IRAs
Gold and Silver IRAs are subject to the same restrictions as traditional IRAs.

You can take only up to $10,000 of your cash out of your IRA account each year.

Disadvantages of Gold and Silver IRAs

The purchase and storage of gold and silver is more expensive

Storage of gold bars requires separate facilities

Gold and silver involve more risk than stocks and bonds

Gold and silver may be difficult to find in small amounts