Nearly one year after issuing their non-proof counterparts for the first time ever, the United States Mint introduced a limited number of Palladium American Eagle proof coins for public purchase on September 6. They feature 99.95%-pure palladium just as the non-proof variants do, making the new coins fully eligible as assets in self-directed IRAs.
At New Direction Trust Company, your self-directed retirement plan can acquire proof coins through the dealer of your choosing just as it can acquire other IRA-eligible coins and bullion. Upon receipt and deposit into your IRA’s storage account, we will incorporate the higher spot values of your proof coins into the fair market values we report on your IRA statement. We may also list the individual years of mintage if the depository storage report supplies such information.
Self-directed investors may want to remember the difference between commingled and segregated depository storage when considering a precious metals approach. With commingled storage, your items will be stored with like-items from other clients, so your IRA-owned Palladium American Eagle coins would reside with other such coins in one collective vault. Therefore, your self-directed IRA would own the proof coins, but if you decide to distribute them in kind or sell them, you or your buyer may not receive the exact coins that your dealer initially shipped. Segregated storage, on the other hand, provides a de facto safe deposit box for your IRA; the same items your account receives from the dealer will be the same ones that leave if/when you authorize their movement elsewhere.
Also bear in mind that, per usmint.gov, only 15,000 one-ounce Palladium American Eagle proof coins will be issued over the course of this initial offering. As such, please consult with your precious metals dealer to confirm availability if you’re interested in purchasing these items on behalf of your retirement plan.