- How are Precious Metal IRAs different from standard IRAs?
Gold and Silver backed IRAs are similar to Standard IRAs, except a Precious Metals IRA gives you the freedom to diversify your portfolio with physical gold and silver.
- How can I start a Precious Metals IRA today, and can I rollover an existing 401k?
In a few simple steps, a Reagan Gold Group Commodity Specialist will walk you through the application process. Your current provider sends a check or wire transfer to the custodian of your choice, where the funds are deposited into your account. As long as this process is complete within a 60-day time frame, there will be no penalties or taxes.
- How does the IRA process work and how long does it take?
The process is simple. It can take 24 to 48 hours to open the account. The transfer from your current custodian to fund the account, however, could take up to a week, whereas cash contributions move more quickly to fund the account.
- What Precious Metals are allowed in IRAs?
Gold, silver, platinum, and palladium are allowed in Precious Metal IRAs provided they meet the following requirements: Gold: 99.5%, Silver: 99.9%, Platinum: 99.95%, Palladium 99.95%
- What is the minimum amount I can invest in my portfolio?
The minimum amount you can invest in a Precious Metals IRA is $5,000.
- Can I make contributions?
Yes, you can make an eligible contribution established by IRS publication 590. Your Reagan Gold Group Commodities Specialist can assist you with the Federal guidelines.
- Where are my metals stored, and are they safe?
Your metals will be stored with Delaware Depository, insured by Lloyd’s of London. Their extensive insurance policy offers you 100% protection for the full value of your stored metals. A state-of-the-art facility ensures the safe and secure storage of your physical assets.
- Can I personally hold my Precious Metals IRA in my possession?
No. Precious metals owned by your retirement plan must be stored in a depository. (It is strongly recommended that you speak with your attorney if you are considering in-home storage; it is not recommended.)
- How do I check the progress of my Precious Metals’ performance?
Your IRA Custodian enables you to track your portfolio online or if you choose it can be mailed to your home annually, typically after the first of the year.
- Can I change my IRA beneficiaries?
Yes, you may add, remove, and/or update your beneficiaries as often as you like.