Precious Metals IRA – Who’s Involved with Your Investment?

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When you buy precious metals with the money in your pocket, you hand over the funds and receive the items. Case closed. To pursue retirement diversification and the tax advantages of self-directed IRA investing, a precious metals transaction becomes a matter of paperwork instead of an exchange of money for gold, silver, platinum, or palladium. Let’s take a look at the three entities involved with a precious metals IRA investment.

Your Dealer

Although not identical, your role and the role of your precious metals dealer are virtually the same. Unlike other IRA providers, New Direction Trust Company allows your IRA to buy, sell, or exchange precious metals with any dealer you want. You can elect to buy from a large national brand or the coin shop down the road; the dealer you trust is alright by us! The only real difference lies in the purity requirements set forth by the IRS, though most common items meet the specified minimums:

  • Gold – 99.5% (gold American Eagle coins do not meet the minimum but are permissible in self-directed IRAs)
  • Silver – 99.9%
  • Platinum – 99.95%
  • Palladium – 99.95%

Once you’ve chosen your dealer and know the eligible products you’d like to acquire on behalf of your self-directed retirement plan, you may contact your broker to establish terms in the same manner as a purchase with non-retirement funds.

Depository/Storage Facility

Precious metals owned by an IRA must be stored in a depository and may not be physically held by the plan holder. At New Direction Trust Company, you can choose from several storage facilities based on method of storage (commingled vs. segregated) and geographic region (international options are available). We maintain constant communication with these facilities to ensure your IRA holdings match your IRA transactions.

New Direction Trust Company

Per the IRS, retirement accounts must be administered by an IRA custodian like New Direction Trust Company. While we take great pride in our IRA educational services and client relations, we also review pending transactions and execute them as efficiently as possible. We then await confirmation of receipt by the depository and update your account holdings accordingly. In addition to the aforementioned services, New Direction Trust Company strives to excel in the following practices:

  • Identity verification and protection.
  • Transaction confirmation through approval of clear and complete paperwork.
  • Investment execution via wire transfer for all metals purchases.
  • Accurate accounting with regular reviews and updates.
  • Identification and prevention of prohibited transactions whenever possible (in many cases, the responsibility of due diligence in this regard falls on the self-directed investor).
  • Generation and dissemination of important tax information.

Our dedicated Precious Metals Asset Team (PMAT) specializes in assisting individuals who want to open a self-directed IRA or have questions about precious metals investing. They also collaborate with precious metals dealers to promote prompt and accurate investment fulfillment. For more information about precious metals IRAs, please feel free to contact PMAT at 877-742-1270 (Ext. 185) or