I already own gold coins – can I add them to my IRA?

Dear Birch Gold Group,

I already own some gold coins that are approved for IRAs, including some American Eagles. Can I add them to my IRA?

Sincerely,

Jerry R.

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Hi Jerry,

Thank you for the great question – it’s one we receive often.

If your coins are already part of an IRA, then the answer is yes – you can roll them into a new Precious Metals IRA. In other words, as long as the coins have always been under the management of your custodian, then they can be added to the new account.

What if your coins are not already in an IRA? In that case, unfortunately, the coins cannot be placed in an IRA, even if those types of coins are technically “IRA-approved.”

That’s because to be placed in an IRA, the coins must be purchased from an approved precious metals dealer and placed under the management of an IRA custodian. This is true whether or not you already have a Precious Metals IRA.

It’s also worth noting that your IRA must be a Precious Metals IRA. If you have another type of IRA, you will first need to convert it into a new Precious Metals IRA before being able to add gold coins. Your new Precious Metals IRA can be set up as a Traditional or Roth account.

Remember, opening a Precious Metals IRA is easy, and our specialists are here to help, every step of the way. Just give us a call at (800) 355-2116 and we’ll be happy to answer your questions and guide you through this simple process.

Thanks again for the question!

Do you have a question about how to invest in precious metals? Want to know more about how to set up a Precious Metals IRA, or what types of coins are available to you? Send an email to goldguru@www.birchgold.com and we may answer it in a future post on our site.