Precious Metals IRA
While most IRAs only offer paper assets, precious metals IRA accounts are self-directed retirement accounts that combine the security of owning precious metals with the tax benefits of an IRA. Contact Monex today to discover more about the benefits of owning physical metal and learn how to start a precious metals IRA.
Four Easy Steps to Adding Precious Metals to your Self-Directed IRA
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Contact Monex at 800-444-8317 to Get Started
Investing in a Precious Metals IRA
What is a Precious Metals IRA?
Most IRAs consist of paper assets whereas a precious metals IRA affords you the ability to buy physical metal and have it delivered to and stored with an independent IRA custodian that you select.
What is a Precious Metals IRA Rollover?
If you have one or more IRA accounts or movable funds in an employer retirement plan, you can transfer some or all of those assets into a Precious Metals IRA account. A transfer occurs when IRA funds are moved at your request directly from one IRA to another, without you taking control or custody of the funds. A rollover takes place when a distribution from an employer retirement plan is made directly to your precious metals IRA trustee/custodian by the plan administrator.
Why Choose Monex?
For over two decades, Monex has successfully assisted investors in building precious metals IRA accounts. We proudly offer top of the line customer service, quality IRA eligible bullion products in a variety of sizes as well as a unique two-way buy/sell market for your convenience.
How to Start a Precious Metals IRA Through Monex
A knowledgeable Account Representative will help you open your precious metals IRA with the independent, third-party IRA Trustee/Custodian of your choice. Upon establishing and funding your Monex IRA account, we will assist you in placing your order for the amount of bullion bars or coins you desire. Monex will then deliver your metals to the storage depository used by your IRA Custodian. Should you later decide to realize the value of your investment by taking advantage of our two-way, buy/sell market, call us to process your sell order. Together with IRA administrators, we will process payment to your Trustee/Custodian and arrange the delivery of your metal back to Monex.
Precious Metals IRA Rules
Anyone who has earned income, or is the spouse of a wage earner, is eligible to open a precious metals IRA, and there is no limit to how many IRA accounts an individual may have. The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. However, there is no maximum dollar amount on transfers or rollovers from an existing IRA account to a precious metals IRA account. Consult with a tax specialist for specific IRS rules and IRA investment advice.
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Compelling Reasons Why Everyone Should Consider an IRA
Basic Rules of an IRA
Anyone who has earned income, or is the spouse of a wage earner, is eligible to open a precious metals IRA, and there is no limit to how many IRA accounts an individual may have. The maximum yearly contribution to all of an individual's traditional and Roth IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. However, there is no maximum dollar amount on transfers or rollovers from an existing IRA account to a gold IRA, silver IRA, or any precious metals IRA accounts. Consult with a tax specialist for specific IRS rules and IRA investment advice.
Silver and Gold IRA Rollovers & Transfers
If you already have one or more IRA accounts or movable funds in an employer retirement plan, you can transfer or "rollover" some or all of those assets into a precious metals IRA account. A transfer occurs when IRA funds are moved at your request directly from one IRA to another, without you taking control or custody of the funds. A rollover, such as a gold IRA rollover, takes place when a distribution from an employer retirement plan is made directly to your gold IRA trustee/custodian by the plan administrator.
Monex has provided delivery of physical precious metals for IRA accounts for well over two decades. Whether you need an IRA rollover, IRA transfer or want to open your first IRA account, Monex is ready to help. We've assisted thousands of precious metals investors in building gold IRA, silver IRA, and other types of precious metals IRA accounts and we look forward to assisting you in this endeavor as well.
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Who can open a precious metal IRA account?
Generally, anyone with earned income can open an IRA unlike a 401K which can only be opened through your employer. For general information about setting up an IRA, contact your IRA custodian.
What is the difference between a new IRA account and a transfer or rollover IRA account?
When setting up a new IRA there is a maximum yearly contribution. If you are under 50 years old, the maximum yearly contribution is $6,000. If you are over 50 then your maximum yearly contribution is $7,000. When rolling over or transferring an IRA there is no maximum amount. Rollovers and transfers tend to be larger values as they have acquired value over time.
Which metals can be Included in precious metals IRAs?
Below is a list of all the available products Monex has which are allowable in an IRA. For more information about each product please give us a quick call and a helpful Account Representative will go into more details.
IRA-Eligible Bullion Bars:
IRA-Eligible Bullion Coins:
- Gold Canadian Maple Leaf Coins
- Silver Canadian Maple Leaf Coins
- Palladium Canadian Maple Leaf Coins
- Platinum Canadian Maple Leaf Coins
- Gold American Eagle Coins
- Silver American Eagle Coins
- Platinum American Eagle Coins
- Gold American Buffalo Coins
- Gold Austrian Vienna Philharmonic Coins
- Silver Austrian Vienna Philharmonic Coins
- Gold Canadian .99999 Fine Limited Series Coins
Where are the precious metals in an IRA physically stored?
Your precious metals are stored, in your name, in a safe, monitored and secured third-party vault with Brink's or another depository to ensure maximum safety. To learn more about storage with Monex, call an Account Representative now.
Are the precious metals in your IRA insured?
Yes, your IRA custodian will determine who insures your metal, however, any metals you own will be fully insured.
What are the age requirements for opening a precious metals IRA?
Typically, you must be at least 18 years old to open an IRA account. However, anyone wondering if they are eligible to open an IRA, should speak to a competent tax advisor.
When must you begin to take required minimum withdrawals from your account?
Required minimum withdrawals start at age 72 or 70 ½ if the owner of the IRA reached 70 ½ before January 1, 2020.