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Bellevue 425-454-1283 · Lynnwood 425-672-2646 · Issaquah 425-392-0450 · Tacoma 253-328-4014

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Gold $39.28
$2,415.06 / $2,417.06

Silver $1.92
$31.42 / $31.57

Platinum $21.02
$1,084.55 / $1,094.55

Palladium $27.40
$992.00 / $1,042.00

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Precious Metals IRA Frequently Asked Questions

A Precious Metals IRA is a type of IRA, including Traditional, ROTH, SEP, SIMPLE, Rollover, or Inherited IRA, which contains precious metals such as gold, silver, platinum, or palladium. The Taxpayer Relief Act of 1997 expanded the investment options available to IRA holders by allowing them to utilize their IRA funds to purchase approved precious metals, going beyond traditional paper assets.
A direct rollover is available for all types of IRAs, including Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, and Solo IRA. For further information or potential restrictions, it is recommended to consult with your IRA custodian.
In a Precious Metals IRA, eligible metals include gold, silver, platinum, and palladium. For gold to be included, it must be in the form of Gold American Eagles (Uncirculated or Proof) or other gold products (coins or bars) with a minimum purity level of .995%. Additionally, silver, platinum, and palladium must have purities of at least .999%, .9995%, and .9995%, respectively, to qualify for inclusion in the IRA.
While it is legally permitted for any IRA to invest in precious metals, several major custodians do not provide physical precious metals as an investment option. If your custodian does not offer this investment option, you may initiate a non-taxable rollover or direct transfer to a different custodian that does offer precious metals.
Account opening fees, annual maintenance fees (which cover statements and filings), storage fees, and transaction fees for metal purchases are all common fees associated with Precious Metals IRA accounts. However, these fees can differ depending on the custodian chosen. Bellevue Rare Coins offers an estimated fee schedule chart for various custodians to assist with comparing fees.
Several well-known IRA custodians provide paper financial products such as stocks, mutual funds, and CDs to their clients, and may charge minimal or no fees for account maintenance. These custodians generate profits from the sale of investment products and through lending deposited cash via the fractional reserve banking system. In contrast, self-directed IRA custodians do not earn income from the assets in the IRA and must charge fees to support their operations and provide custodial services, including IRA statements. Additionally, they pass along the costs of secure storage to the account holder.
Indeed, all initial setup fees and yearly maintenance fees for IRAs are eligible for tax deductions.
A transfer of IRA funds is a direct transfer between custodians without tax consequences and is preferred when moving between similar accounts, such as one Traditional IRA to another. There is no limit to the number of transfers that can occur in a calendar year. In contrast, a rollover is typically used when moving between different accounts, such as from a 401(k) to an IRA. A rollover can be either direct or indirect, with the latter involving the account holder receiving the funds and then having 60 days to transfer them to another retirement account. Failure to transfer the funds within this period may result in taxes and potential early withdrawal penalties. This is commonly referred to as a 60-day rollover, and only one such rollover is permitted within any 12-month period.

  • Bellevue

    Bellevue

    321 Bellevue Way NE
    Bellevue, WA 98004
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed     Phone: 425-454-1283
    Call Directions

  • Lynnwood

    Lynnwood
    18411 Alderwood Mall Parkway Suite F
    Lynnwood, WA 98037
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed     Phone: 425-672-2646
    Call Directions

  • Issaquah

    Issaquah
    1175 NW Gilman Blvd Suite B16
    Issaquah, WA 98027
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed     Phone: 425-392-0450
    Call Directions

  • Tacoma

    Tacoma
    2302 Pacific Ave
    Tacoma, WA 98402
    Hours: Mon-Fri 10 am - 6 pm
    Saturday & Sunday Closed     Phone: 253-328-4014
    Call Directions