Discover the Benefits of a Guildhall Precious Metals IRA

  • A precious metals IRA (individual retirement account) allows an investor to invest in precious metals such as gold and silver.
  • These IRAs allow investors to own the metals with tax-free or tax-deferred growth.
  • The metals must be held by an approved custodian.
  • Not all IRA custodians are created equal.

The precious metals IRA (individual retirement account) allows investors to acquire the metals through IRA-approved custodians. Additionally, these IRAs allow investors to acquire the metals without paying taxes. However, not all IRA custodians are created equal. Below, we explore the many benefits associated with investing in precious metals through a precious metals IRA.

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Benefits of a Guildhall Precious Metals IRA

Individual retirement accounts (IRAs) provide a number of advantages. Since an IRA is an individual account, it is not subject to the same taxes and penalties that traditional or Roth IRAs are.
The IRA offers tax deferral, meaning that any investments you make in an IRA are not taxed until you start withdrawing funds. As a result, your tax rate on gains is subsequently lower.
You can enjoy the same diversification and tax advantages when investing in precious metals through your IRA as you do with other investments.
When investing in precious metals through an IRA, you receive the same flexibility and liquidity as you would with any self-directed IRA.

Advantages of an IRA

IRAs offer tax-sheltered growth on your investment, free of ordinary income tax.
Contribution limits are higher than other retirement accounts. For example, in 2022, you can make a contribution of up to $28,000, or $56,000 if you're age 50 or older.

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Optional withdrawals can be made at any time.

You can take distributions from your IRA before age 591⁄2 without incurring a 10% early withdrawal penalty, although income taxes will be due on the amount withdrawn.

Retirement distributions after age 701⁄2 are generally tax free, but may be subject to a 10% penalty.

No income taxes are due on earnings until distribution.

Contributions of $5,000 or more can be made annually for married couples filing jointly, and $2,000 or more can be made annually for individual taxpayers.

If you move your IRA from one custodian to another, avoid tax problems by following the guidelines below.

Types of IRAs

Traditional IRA
Roth IRA
Within these four categories, there are different types of IRAs, such as custodial, self-directing, and SIMPLE IRAs. Some IRAs may have restrictions that restrict what you can invest in.
For example, a custodial IRA may also have restrictions that are not applicable to a self-directed IRA. With a custodial IRA, your IRA custodian makes the decisions about where to invest your money. With a self-directed IRA, you are responsible for managing your own IRA.
A SIMPLE IRA is a simplified version of a traditional IRA, which was designed for people who did not have sufficient income to be eligible for traditional IRAs.

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Traditional IRA

A traditional IRA account is funded with pre-tax dollars, meaning the funds are taxed when withdrawn.
Roth IRA
A Roth IRA is funded with after-tax dollars, meaning the funds have already been taxed. Since money is already taxed, the withdrawal is not taxed.

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Traditional IRA and Roth IRA accounts are both considered retirement accounts. Both accounts can be used to invest in precious metals.

Roth IRA

With a Roth IRA, you contribute after-tax funds and may withdraw funds tax-free.

Traditional IRA
With a Traditional IRA, you contribute pre-tax funds and may withdraw funds tax-free.

Rollover IRA
A Rollover IRA is another type of IRA that may contain funds from a 401(k), 403(b), 401(a), or a Traditional IRA.

Ancillary Products

Perhaps the most striking difference between a precious metals IRA and a traditional IRA is the types of products that can be held in the account. With a Precious Metals IRA, you can invest in coins, rounds, bars, and rounds, as well as shares of precious metal mining companies.