Precious Metals IRA
With Monex, precious metals investors have the power to create a gold IRA account, silver IRA account, or select from any of our other IRA eligible precious metals products to create an IRA account that works best for them. We work hard to ensure that establishing your precious metals IRA is a simple process. Learn how you can start your IRA now.
Four Easy Steps to Adding Precious Metals to your Self-Directed IRA
If so, skip to step three.
Contact Monex at 800-444-8317 to Get Started
Monex, Precious Metals, and your IRA
Most IRAs only offer paper assets whereas through Monex, you can have physical metal delivered and stored for your IRA using an independent IRA custodian that you select. Monex will help you open your IRA with whichever independent, third-party IRA Trustee/Custodian you choose. When your IRA is opened and funded, you simply place your order for the metal you want and Monex will take care of the rest, it’s that simple.
The other major advantage with using Monex when purchasing metal for delivery to your IRA is our two-way buy/sell market. Not only do you always know the value of your metals, but you can also realize that value by simply calling a Monex account representative and selling your metal at any time when the Monex market is open.
In addition to opening a brand new Precious Metal IRA account, you can also transfer or rollover funds from an existing IRA, Roth IRA, or employer retirement account into a Precious Metals IRA. A Monex Account Representative can assist you in selecting whether a gold IRA account, silver IRA account, or other type of precious metal IRA is right for you. This decision along with the selection of an IRA Trustee/ Custodian would be all determined by you the investor.
Setting Up Your Precious Metals IRA
Once your Precious Metals IRA account has been established and funded, utilizing your IRA is as simple as making a call. You decide when to purchase and what types and quantities of precious metals you wish to have delivered to your IRA Custodian. Monex will then promptly deliver the metal to the storage depository used by the IRA Custodian you have selected. When you decide to sell the precious metals in your IRA account you can process your sell order with a Monex account representative who, along with IRA administrative personnel, will process payment to your Trustee/Custodian and arrange the delivery of your metal to Monex.
Ask Our Knowledgeable Account Representatives About
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.
What types of Precious Metals can (and cannot) 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 your IRA physically stored?
Your precious metals are stored, in your name, in a safe, monitored and secured third-party vault. The following locations are some of the vaults we’ve worked with before: Delaware Depository Service Company (DDSC), Diamond State Depository, CNT, Brinks and others.
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.