#1 Gold IRA Podcast With Jeffrey Tan: The #1 BEST And MOST COMPREHENSIVE Gold IRA Information Source [goldirapodcast.net]

Narrator: 00:00

To get started, I would recommend that you get a completely free gold IRA guide that is written by the best and most trusted gold IRA company that I have found after over twenty years as an expert independent gold researcher. This free gold IRA guide will explain everything you need to know and will also answer any questions you may have about gold IRAs. This is the best guide I have seen in my lifetime as an expert independent gold researcher with more than twenty years of experience, and this is the best guide available anywhere in my opinion. Also, when you get this free gold IRA guide, you will get free access to the top gold IRA experts who will provide you with personalized support and help over the phone, and they will answer any questions you may have. To get this top free gold IRA guide, simply go to the link that is in the episode show notes or go to the link that is in the episode description.

Narrator: 00:57

So, again, to get this top free gold IRA guide, simply go to the link that is in the episode show notes or go to the link that is in the episode description. This free guide is really worth getting. Simply go to the link that is in the episode show notes or go to the link that is in the episode description. Also, this audiobook is not financial, investment, or tax advice. For financial, investment, or tax advice, consult a financial investment or tax adviser and take full responsibility for any decision you make.

Narrator: 01:29

Okay, let's start the audiobook. IRA approved precious metals, in a gold IRA precious metals IRA. A precious metals IRA, often referred to as a gold IRA, is a self directed individual retirement account that allows you to hold physical precious metals as an investment. However, the IRS has strict rules about what types of precious metals are allowed within these accounts. In general, the metals metals must meet certain fineness standards and be held by an approved custodian.

Narrator: 01:57

Here's a detailed breakdown of the types of precious metals approved for a precious metals IRA. One, gold: Purity. Gold bullion must be at least point nine nine five, 90 nine point five percent pure. This means that for every 1,000 parts of the metal, at least 995 parts must be gold. Forms, acceptable forms, typically include gold coins, American Gold Eagle.

Narrator: 02:22

These coins meet the purity standards, are readily available, and are often a popular choice Canadian Gold Maple Leaf, another widely accepted coin with the required purity Australian Gold Kangaroo Nugget, accepted as long as they meet the fineness requirements Austrian gold Philharmonic, a popular European gold coin that qualifies. Other government issued gold coins. Many other gold coins issued by national governments, e. G, British sovereign, South African Krugerrand, may be acceptable if they meet the fineness and authenticity requirements. Important note: The South African krugerrand, while historically popular, typically doesn't meet 0.995 fineness requirement and is therefore usually not approved for precious metals IRAs.

Narrator: 03:07

Confirm with your custodian: Gold bars rounds: These must be produced by a COMEX approved refiner or assayer or a national government mint. They must be clearly marked with their weight, purity, and manufacturer's mark. Typical sizes range from one ounce to larger kilo bars. Two. Silver silver bullion must be at least 99999% pure.

Narrator: 03:30

Silver coins: American silver eagle, the most popular silver coin for IRAs Canadian silver maple leaf, another common and widely accepted option Australian silver kookaburra koala meets the purity requirements Austrian silver philharmonic, a European silver coin that qualifies Other government issued silver coins. Similar to gold, many other government minted silver coins may be acceptable if they meet the purity and authenticity requirements. Silver bars rounds. Similar to gold bars, these must be produced by a Comex approved refiner or assayer or a national government mint. They must be clearly marked with their weight, purity, and manufacturer's mark.

Narrator: 04:10

Common sizes range from one ounce to 100 ounce bars and larger. Three, platinum. Purity, platinum bullion must be at least point nine nine nine five, ninety nine point nine five % pure. Forms, platinum coins, American Platinum Eagle meets the IRA requirements. Canadian Platinum Maple Leaf, a common and accepted platinum coin Australian Platinum Koala typically meets the 9,995 purity standard Platinum Bars rounds must be produced by an accredited refiner or mint must be clearly marked with their weight, purity, and manufacturer.

Narrator: 04:45

For palladium, purity, palladium bullion must be at least point 99959995% pure. Forms, palladium coins, Canadian palladium maple leaf, the most common and readily available palladium coin for IRAs. Palladium bars rounds must be produced by an accredited refiner or mint, must be clearly marked with their weight, purity, and manufacturer. Important considerations and restrictions: Collectibles and seminumismatic coins. Generally, collectible coins, like rare coins or those with historical or artistic value that exceeds their metal content, are not allowed in a precious metals IRA.

Narrator: 05:23

The IRS aims to ensure that the investment is based primarily on the intrinsic value of the precious metal, not its rarity or collectability. Proof coins may be allowed, but double check with your custodian. Third party storage is mandatory. You cannot physically hold the precious metals yourself. The IRS requires that all precious metals in an IRA be held by an approved custodian in a secured depository.

Narrator: 05:49

This ensures the metal doesn't get mixed with non IRA funds or used in any unauthorized way. Approved refiners, assayers, mints: The gold, silver, platinum, and palladium must be produced by reputable and accredited sources. COMEX, commodity exchange, Inc, approved refiners are a common benchmark, but national government mints are also acceptable. Your custodian will have a list of approved sources. Custodian approval.

Narrator: 06:15

Ultimately, the custodian of your precious metals IRA has the final say on what metals they will accept. They may have their own specific policies and procedures in addition to the IRS regulations. Always confirm with your custodian before purchasing any precious metals for your IRA. Reporting requirements. The custodian is responsible for reporting all transactions within your IRA to the IRS.

Narrator: 06:40

Prohibited transactions. You cannot combine your IRA's precious metals with personal property, and you cannot take personal possession of the metal without triggering a taxable distribution and potential penalties. Fungibility. The metals must be fungible, meaning they are interchangeable with other metals of the same type and purity. This is one reason why graded or extremely rare coins are generally not allowed.

Narrator: 07:06

Before investing, consult with a financial adviser. Investing in precious metals can be complex. Seek advice from a qualified financial adviser to determine if it aligns with your overall investment strategy and risk tolerance. Research custodians. Carefully research and choose a reputable precious metals IRA custodian.

Narrator: 07:26

Consider their fees, storage options, and track record. Understand the costs. Be aware of all the fees associated with a precious metals IRA, including setup fees, storage fees, transaction fees, and management fees. These fees can impact your overall returns. Due diligence.

Narrator: 07:45

Research the precious metals dealer you'll be purchasing the metals from. Ensure they are reputable and offer fair prices. Also, I would recommend that you get a completely free gold IRA guide that is written by the best and most trusted gold IRA company that I have found after over twenty years as an expert independent gold researcher. This free gold IRA guide will explain everything you need to know and will also answer any questions you may have about gold IRAs. This is the best guide I have seen in my lifetime as an expert independent gold researcher with more than twenty years of experience, and this is the best guide available anywhere in my opinion.

Narrator: 08:27

Also, when you get this free gold IRA guide, you will get free access to the top gold IRA experts who will provide you with personalized support and help over the phone, and they will answer any questions you may have. To get this top free gold IRA guide, simply go to the link that is in the episode show notes or go to the link that is in the episode description. So, again, to get this top free gold IRA guide, simply go to the link that is in the episode show notes or go to the link that is in the episode description. This free guide is really worth getting. Simply go to the link that is in the episode show notes or go to the link that is in the episode description.

Narrator: 09:08

Also, this audiobook is not financial, investment, or tax advice. For financial, investment, or tax advice, consult a financial investment or tax adviser and take full responsibility for any decision you make. This is the end of this audiobook. I hope you enjoyed this and found it valuable. I would really appreciate it if you could please share this with everyone you know and leave a positive review for me.

Narrator: 09:33

So again, I would really appreciate it if you could please share this with everyone you know and leave a positive review for me. All the best to you.