Precious Metals IRAs by the Numbers

As more people discover the benefits of investing in gold, silver and others precious metals, many are rethinking their approach to saving for retirement.

Rather than betting their life savings on volatile stocks and mutual funds – and praying that the declining U.S. dollar will eventually stop eating away at their wealth – many people are moving their retirement funds into a Precious Metals IRA.

But, what exactly is this type of retirement account? Below, we provide a brief background on Precious Metals IRAs, along with some useful numbers to keep in mind as you make the decision to safeguard your retirement savings.

What is it?

A Precious Metals IRA is an individual retirement account that can hold precious metals, including gold, silver, platinum and palladium, in addition to other types of investments (for example: mortgages, real estate, stocks, etc.). In essence, this type of account is no different from other IRAs, except that it combines the tax benefits with the additional benefits of investing in precious metals.

By the numbers:

• 1997: the year the doors to Precious Metals IRAs were swung open. Prior to 1997, Americans hardly had any options for placing precious metals into their IRA. Beyond adding stocks, bonds, money market funds and mutual funds to an IRA via cash-based contributions, the only options for gold and silver were American Gold Eagle Coins and American Silver Eagle Coins. But under the Taxpayer Relief Act of 1997, a variety of other investment types and options were added, including a significantly greater variety of precious metals from which you can choose.

• $5,500: annual IRA contribution limit. Like any other IRA, total annual contributions are limited to $5,500 ($6,500 if you’re age 50 or older) as of 2014. However, if you have an existing retirement account, you may be able to rollover all of the funds into a Precious Metals IRA, regardless of the account’s size.

• 99.5: minimum required purity for gold in a Precious Metals IRA (with the exception of the 91.67% Gold American Eagle Coin). The minimum purity requirements for other IRA-approved precious metals are: Silver at 99.9%, Platinum at 99.95% and Palladium at 99.95%.

• 7-10 business days to complete a Precious Metals IRA rollover (on average). Rolling over funds from another retirement account is quick and simple. Once you’ve decided to move forward and have initiated paperwork, on average, it only takes about 7-10 business days for the conversion, however please note that outside factors (such as responsiveness of your current account’s custodian) can increase this time. Numerous retirement accounts are eligible, including 401(k)s, 403(b)s, 457s, TSPs, and Traditional & Roth IRAs.

• 3: simple steps to complete your rollover.

  • Step 1) Contact the Precious Metal IRA Specialists at Birch Gold Group, who will answer your questions and guide you through the process.

  • Step 2) Roll over the funds from your existing retirement account into a new Precious Metals IRA. We can even assist you with all of the necessary paperwork.

  • Step 3) Purchase your precious metals. You have several great options to choose from, and we’re happy to help you select the right metals for your needs.

• $0: the cost to receive our Free Investment Kit. Take the first step to safeguarding your retirement plans with a Precious Metals IRA. Request a copy of our Free Investment Kit for more information, or call us at (800) 355-2116 to speak to one of our specialists.