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

Is your IRA funded and ready for a precious metals investment?
If so, skip to step three.

Step 1

Establish an IRA with one of several recommended Trustee/Custodians and designate Monex as your precious metals dealer.

Step 2

Fund your account with the IRA Trustee/Custodian; once funds are available, the custodian will contact Monex.

Step 3

Invest in any one of our IRA eligible precious metals products by calling your Monex account representative.

Step 4

After the trustee/custodian receives purchase details, the metals will be shipped and a payment will be made from the IRA.

Contact Monex at 800-444-8317 to Get Started

From the Monex Vault

Why Buy Precious Metals Through Your IRA?

Sean Brazney |

June 17, 2024

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 $7,000 ($8,000 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.

Compelling Reasons Why Everyone Should Consider an IRA

A regular, disciplined investment program is the surest path to financial security.

An IRA lets you invest pre-tax, undiluted funds, if you qualify. This takes your money further. Roth IRAs are also available.

An IRA provides you with the widest choice of investments for your pre-tax retirement dollars.

You are not limited to "paper assets" as in many retirement plans.

All earnings accumulate tax-free over the life of the IRA. Taxes are deferred from high-income, high-bracket earning years to lower-bracket retirement years.

An IRA provides you with a wide choice of investments for your pre-tax retirement dollars.

You can invest retirement funds in a tangible asset like bullion bars and coins with substantial intrinsic value.

In an IRA, you have the flexibility to dollar-cost-average, simply accumulate, or trade in and out of investments, deferring all taxes on gains.

Virtually everyone with wage or self-employment income can open an IRA.

When you want to take a Required Minimum Distribution (RMD) you can elect to take distribution "in like kind" meaning you can receive any precious metal bullion held in your IRA from the account.

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Frequently Asked Questions

IRA Account Setup

Do I need an IRA open before I buy for IRA custody?

Yes. An IRA with an approved custodian must be established before placing an IRA purchase. (Non-IRA purchases can be completed online.)

Do I need to open a new IRA?

Not necessarily. If you already have an IRA with an approved custodian, you can fund it and proceed with your investment.

How do IRA purchases work?

Open/fund an IRA with an approved custodian.
Call us to select IRA-eligible products and initiate the order.
Your custodian processes payment and arranges qualified storage.
Metals ship to the approved depository under IRA custody.

Who places the order — me or my custodian?

You call Monex to place the order. Your Monex rep coordinates with your custodian, who settles the trade from IRA funds.

Purchasing Metals for an IRA

Can I buy IRA-eligible metals online?

You can view and price products online, but online checkout does not place metals into an IRA. To buy for an IRA, complete the order through your account representative by phone at 800-444-8317.

Why can’t I complete an IRA purchase online?

IRA transactions must be processed and recorded by your IRA custodian. Online checkout creates a non-IRA purchase and does not place metals into an IRA. To buy for an IRA, complete the order by phone with a Monex account representative; your custodian will then pay from the IRA funds.

Can I add metals to my existing IRA?

Yes. You can add newly purchased eligible metals to an existing IRA, but the purchase must be completed by phone and processed through your IRA custodian.

Can I use personal funds or ship to my home, then move it into the IRA?

No. IRA metals must be purchased by the IRA and stored at an approved depository from the start.

Custody, Storage, and Settlement

Where are the metals stored?

At an IRS-approved depository titled to your IRA, not to you personally. Home storage isn’t part of this process.

How long does settlement and delivery take?

After you place the order and funds are confirmed, the custodian pays from the IRA, and the depository receives the metals. Timing depends on your custodian and depository processing.

Can I take delivery later?

You may request an in-kind distribution from your IRA. Taxes/penalties depend on your age and account type. Your custodian will advise.

Fees and Transactions

What fees should I expect?

Custodian and storage fees are billed by the custodian/depository. Monex pricing applies to the metal purchase itself.

Can I sell metals already held in my IRA to Monex?

Yes. You can sell IRA-held precious metals to Monex. Contact an account representative and we’ll provide the correct forms and coordinate with your custodian and depository. After settlement, proceeds are returned to your IRA as cash.

Precious Metals IRA

Four Easy Steps to Adding Precious Metals to your Self-Directed IRA

Step 1

Step 2

Step 3

Step 4

Contact Monex at 800-444-8317 to Get Started

Investing in a Precious Metals IRA

How to Start a Precious Metals IRA Through Monex

Compelling Reasons Why Everyone Should Consider an IRA

Never Miss Investing News from Monex

Learn More AboutGold IRAs

Learn More AboutSilver IRAs

Learn More AboutPalladium IRAs

Learn More AboutPlatinum IRAs

IRA Account Setup

Do I need an IRA open before I buy for IRA custody?

Do I need to open a new IRA?

How do IRA purchases work?

Who places the order — me or my custodian?

Purchasing Metals for an IRA

Can I buy IRA-eligible metals online?

Why can’t I complete an IRA purchase online?

Can I add metals to my existing IRA?

Can I use personal funds or ship to my home, then move it into the IRA?

Custody, Storage, and Settlement

Where are the metals stored?

How long does settlement and delivery take?

Can I take delivery later?

Fees and Transactions

What fees should I expect?

Can I sell metals already held in my IRA to Monex?

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Get Your Free Monex Investor Kit

Learn More About
Gold IRAs

Learn More About
Silver IRAs

Learn More About
Palladium IRAs

Learn More About
Platinum IRAs