When considering a IRA in precious metals, it’s important to know how a precious metal IRA works. A valid precious metal IRA program involves the services of a retirement account custodian, an insured commercial depository, and a precious metal dealer. The retirement custodian’s involvement allows you to own precious metals through an IRS approved retirement program. The commercial depository stores and protects the precious metals you own, and the precious metal dealer allows you the ability to buy, sell, or exchange precious metals as a non-taxable event in your retirement account.
How to Establish a Self-Directed Precious Metal IRA
First you will need to choose a precious metal custodian. There are many to choose from and you will want to choose a retirement custodian that best suits your personal needs. Before choosing a retirement custodian, you should review their account fee schedule to see which program is most cost effective for you.
The depository you choose should have an established track record. The depository you choose should offer insurance for the value of your precious metal holdings. The depository you choose should offer the option to receive an in-kind RMD in tangible precious metals.
The precious metal dealer you choose should offer transparency in pricing by posting their product purchase pricing online. Carefully research any precious metal dealer you are considering by reviewing credible online review sites like BBB, Trustpilot, Google Reviews, Consumer Affairs, and Retirement Living. Only consider a precious metal dealer that offers a Fee Free Buyback Policy. Only consider precious metal dealers that guarantee transaction pricing with a phone call. Only consider a precious metal dealer that will insure the shipping of your precious metals and guarantee delivery.
The Easy Way to Establish a Self-Directed Precious Metal IRA
Simply contact Orion Metal Exchange. Our in-house and full-service IRA department can help you over the phone. Within minutes, they can help you locate a custodian and depository that will best suit your personal needs. They will help you establish a precious metal retirement account within minutes. Then, our IRA department will contact your current retirement account custodian to request the transfer of your retirement account funds. Once your funds are transferred, you will be able to buy, sell, or exchange gold, silver, platinum, or palladium with a phone call. Our IRA department will then insure and ship the precious metals to your insured IRA depository account. A precious metal IRA account allows you the flexibility to buy, sell, and exchange precious metals within your retirement account as a non-taxable event. Unlike our competitor’s, Orion Metal Exchange offers access to every legitimate precious metal IRA custodian and depository option in the nation. Every IRA commercial depository we work with is insured by Lloyd’s of London for the value of the precious metal holdings.
Thinking about a Self-Directed Precious Metal IRA? Explore the 5 Benefits of Having a Self-Directed IRA Account to ensure you’re on the right track for financial success.
Take a look at the FAQs for a concise summary of the blog post and get answers on how to establish a Precious Metal IRA.
