You may already have a diverse variety of investments for your retirement, including an IRA, but have you considered adding precious metals to your IRA account? A self directed precious metals IRA offers the same tax benefits as a traditional IRA, but has the added benefit of consisting of precious metals. Metals such as gold and silver offer protection against the debasement of traditional currencies. This can be readily seen with the issue of inflation, and there is no better hedge against inflation than gold. Of course, there is also the issue of protection against losses in the stock market. It wasn’t that long ago that people lost much of their retirement savings when the stock market crashed due to the mortgage bubble. With precious metals, regardless of what the latest investment bubble may be, your money is protected when you have it invested in precious metals.
A Few Things to Know About This Type of IRA
There are only four metals that are approved for purchase as a retirement investment that can be used in an IRA. Gold and silver are obvious ones, but you can also invest in platinum and palladium. You must purchase these metals in a specific form, namely coin and bullion.
In addition, there are rules for where the bullion comes from. For example, there are approved mints for the purchase of gold coins. The reason for this is that the government has a standard for the purity of the gold. You must also store your precious metals for an IRA in an approved facility. You can’t simply keep it at home, or it will not qualify for an IRA. Because there are so many regulations regarding a self-directed precious metals IRA, you need to consult with an expert company.
Orion Precious Metals in Los Angeles, California understands all of the rules related to a self-directed precious metals IRA. For more information, visit web
