IRA: Gold and Silver Bullion?

[apush]

I had no idea that an investment could be made in an IRA with gold or silver bullion. Has anyone gone that route? If so, how does that work?
apush

 

[2Cents]

To the best of my knowledge you have to entrust a third party. IMO, if, you don't have it in your possession, you don't really own it. If the shit hits the fan and you want it most likely they can't produce. I would not now, or ever, trust anyone but myself to hold my PM investment.

 

[obediah]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

 

[jim4silver]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

Actually, in the case of IRAs it is not paper. You have to actually set up the purchase of certain types of approved (for IRA purposes) gold/silver thru your custodian (third party), and it is sent to the third party to hold. From what I have read when you decide to sell it, it can be sold outright by the third party or they send it (the metals) directly to you.

It is possible that the third party could do something criminal/fraudulent with your PMs though. But since you get to pick who that third party is, I would imagine there is a decent chance you can find a good third party to hold the PMs who would not rip you off. But if you decide to go this route do as much due diligence as you can.

I don't have such an IRA personally, but there is alot of info out there if a person is interested by "Googling" for it.

I would rather hold my own PMs myself if possible.


Jim

 

[obediah]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

Actually, in the case of IRAs it is not paper. You have to actually set up the purchase of certain types of approved (for IRA purposes) gold/silver thru your custodian (third party), and it is sent to the third party to hold. From what I have read when you decide to sell it, it can be sold outright by the third party or they send it (the metals) directly to you.

It is possible that the third party could do something criminal/fraudulent with your PMs though. But since you get to pick who that third party is, I would imagine there is a decent chance you can find a good third party to hold the PMs who would not rip you off. But if you decide to go this route do as much due diligence as you can.

I don't have such an IRA personally, but there is alot of info out there if a person is interested by "Googling" for it.

I would rather hold my own PMs myself if possible.


Jim

Yes, ALL you got is P-A-P-E-R gold, your putting your trust where I'd not do so. Few years ago it was revealed Merril Lynch's 3rd party holdings were entirely on paper- there was no gold being held despite the annual storage fees that were also charged; in this age where the law itself is & operates essentially an organized crime syndicate I'd not trust any aspect of it including the Corporate proxies of said Gov!

 

[jim4silver]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

Actually, in the case of IRAs it is not paper. You have to actually set up the purchase of certain types of approved (for IRA purposes) gold/silver thru your custodian (third party), and it is sent to the third party to hold. From what I have read when you decide to sell it, it can be sold outright by the third party or they send it (the metals) directly to you.

It is possible that the third party could do something criminal/fraudulent with your PMs though. But since you get to pick who that third party is, I would imagine there is a decent chance you can find a good third party to hold the PMs who would not rip you off. But if you decide to go this route do as much due diligence as you can.

I don't have such an IRA personally, but there is alot of info out there if a person is interested by "Googling" for it.

I would rather hold my own PMs myself if possible.


Jim

Yes, ALL you got is P-A-P-E-R gold, your putting your trust where I'd not do so. Few years ago it was revealed Merril Lynch's 3rd party holdings were entirely on paper- there was no gold being held despite the annual storage fees that were also charged; in this age where the law itself is & operates essentially an organized crime syndicate I'd not trust any aspect of it including the Corporate proxies of said Gov!

I personally don't have any type of IRA, but if I did, I would rather have gold and silver in it with a trustee that I chose, than have stocks in companies that might go bankrupt, etc. Most people have assets other than what they stash under their mattress in today's world.

A person can have physical in their possession as well. Having some in an IRA is not mutually exclusive to owning physical.

Just because one or more institutions may have acted fraudulently, does not mean every one is crooked.


Jim

 

[obediah]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

Actually, in the case of IRAs it is not paper. You have to actually set up the purchase of certain types of approved (for IRA purposes) gold/silver thru your custodian (third party), and it is sent to the third party to hold. From what I have read when you decide to sell it, it can be sold outright by the third party or they send it (the metals) directly to you.

It is possible that the third party could do something criminal/fraudulent with your PMs though. But since you get to pick who that third party is, I would imagine there is a decent chance you can find a good third party to hold the PMs who would not rip you off. But if you decide to go this route do as much due diligence as you can.

I don't have such an IRA personally, but there is alot of info out there if a person is interested by "Googling" for it.

I would rather hold my own PMs myself if possible.


Jim

Yes, ALL you got is P-A-P-E-R gold, your putting your trust where I'd not do so. Few years ago it was revealed Merril Lynch's 3rd party holdings were entirely on paper- there was no gold being held despite the annual storage fees that were also charged; in this age where the law itself is & operates essentially an organized crime syndicate I'd not trust any aspect of it including the Corporate proxies of said Gov!

I personally don't have any type of IRA, but if I did, I would rather have gold and silver in it with a trustee that I chose, than have stocks in companies that might go bankrupt, etc. Most people have assets other than what they stash under their mattress in today's world.

A person can have physical in their possession as well. Having some in an IRA is not mutually exclusive to owning physical.

Just because one or more institutions may have acted fraudulently, does not mean every one is crooked.


Jim

No not everyone is crooked per say, but the Corporate system is flawed and rigged, as have read elsewhere a person by being honest makes himself an easy victim; it does not take a law or laws to do what is right- in fact laws today are used to do wrong, loopholes & claimed unintended consequences are rife and I say designed into the system of "law" itself today. Corruption is the norm. Corporations are a creation of Gov & are not subject unto Constitutional law as they are not real persons, but rather artificial ones created by Gov in law and subject entirely to Gov their creator.

And judgment is turned away backward, and justice standeth afar off: for truth is fallen in the street, and equity cannot enter.

Yea, truth faileth; and he that departeth from evil maketh himself an easy victium: and the LORD saw it, and it displeased him that there was no judgment. Isaiah 59:14-15

 

[greencopper]

Check out Tulving.com Here is the link to their IRA page
http://tulving.com/New Pages/ira.htm

You put the money in, then buy what you want, then the physical gets delivered to the holding company.

I don't have an IRA account, so I can't rate them. I have, however bought from Tulving several times, and they are a stand up company.

 

[Fredness]

Be advised, the same filth that has tainted the money supply (fractional banking) has tainted the PM world. Some companies store a tiny amount of the actual gold which customers purchase, and the rest is traded electronically. When the 1's and 0's disappear, you are left with the latter.

 

[onfire]

Theres a guy up in Colorado I sell gold to, If the price of gold is at a spot I like, I ll call him to tell him I want to sell today at this spot. he buys it even if the spot goes down tomorrow before he gets it. .He has been buying AU since the early 70s. IRA's are just to long to wait good long term. At least selling this way saves the tax. I m sure one day because it is a collectible such as silver, the goofs in Wash. will tack on the same tax as art work.

 

[jim4silver]

Theres a guy up in Colorado I sell gold to, If the price of gold is at a spot I like, I ll call him to tell him I want to sell today at this spot. he buys it even if the spot goes down tomorrow before he gets it. .He has been buying AU since the early 70s. IRA's are just to long to wait good long term. At least selling this way saves the tax. I m sure one day because it is a collectible such as silver, the goofs in Wash. will tack on the same tax as art work.

If you sell gold/silver coins or other PMs outright it is taxed at the collectibles rate now. I don't know the tax ramifications if it is sold while in an IRA, that might be different.

Jim

 

[quiksilver]

From the point of view that you already have money in an IRA and no matter what type of IRA it is you cant touch it anyway. Having it as a gold IRA probably wouldnt be any worse then whatever you have it in now.

 

[obediah]

From the point of view that you already have money in an IRA and no matter what type of IRA it is you cant touch it anyway. Having it as a gold IRA probably wouldnt be any worse then whatever you have it in now.

That's why I'd NEVER put money in an IRA, you loose control of your money and are gambling- betting- banking things will stay same or be more in your favor in future, and if you change your mind (wise up), and want out it is gonna cost ya! I can save my own money myself without locking it up in a penalty box.

And that box is designed by Gov to control you and your property.

 

[Rich Hartford]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

Actually, in the case of IRAs it is not paper. You have to actually set up the purchase of certain types of approved (for IRA purposes) gold/silver thru your custodian (third party), and it is sent to the third party to hold. From what I have read when you decide to sell it, it can be sold outright by the third party or they send it (the metals) directly to you.

It is possible that the third party could do something criminal/fraudulent with your PMs though. But since you get to pick who that third party is, I would imagine there is a decent chance you can find a good third party to hold the PMs who would not rip you off. But if you decide to go this route do as much due diligence as you can.

I don't have such an IRA personally, but there is alot of info out there if a person is interested by "Googling" for it.

I would rather hold my own PMs myself if possible.


Jim

Yes, ALL you got is P-A-P-E-R gold, your putting your trust where I'd not do so. Few years ago it was revealed Merril Lynch's 3rd party holdings were entirely on paper- there was no gold being held despite the annual storage fees that were also charged; in this age where the law itself is & operates essentially an organized crime syndicate I'd not trust any aspect of it including the Corporate proxies of said Gov!

I personally don't have any type of IRA, but if I did, I would rather have gold and silver in it with a trustee that I chose, than have stocks in companies that might go bankrupt, etc. Most people have assets other than what they stash under their mattress in today's world.

A person can have physical in their possession as well. Having some in an IRA is not mutually exclusive to owning physical.

Just because one or more institutions may have acted fraudulently, does not mean every one is crooked.


Jim

No not everyone is crooked per say, but the Corporate system is flawed and rigged, as have read elsewhere a person by being honest makes himself an easy victim; it does not take a law or laws to do what is right- in fact laws today are used to do wrong, loopholes & claimed unintended consequences are rife and I say designed into the system of "law" itself today. Corruption is the norm. Corporations are a creation of Gov & are not subject unto Constitutional law as they are not real persons, but rather artificial ones created by Gov in law and subject entirely to Gov their creator.

And judgment is turned away backward, and justice standeth afar off: for truth is fallen in the street, and equity cannot enter.

Yea, truth faileth; and he that departeth from evil maketh himself an easy victium: and the LORD saw it, and it displeased him that there was no judgment. Isaiah 59:14-15

I'm with you Obe on this one. You ought to run for office.We could use an American in office.
HH
Rich

 

[obediah]

Yeup that Gold is ALL on paper- in this late hour ain't no way I'd trust their paper Gold!

Actually, in the case of IRAs it is not paper. You have to actually set up the purchase of certain types of approved (for IRA purposes) gold/silver thru your custodian (third party), and it is sent to the third party to hold. From what I have read when you decide to sell it, it can be sold outright by the third party or they send it (the metals) directly to you.

It is possible that the third party could do something criminal/fraudulent with your PMs though. But since you get to pick who that third party is, I would imagine there is a decent chance you can find a good third party to hold the PMs who would not rip you off. But if you decide to go this route do as much due diligence as you can.

I don't have such an IRA personally, but there is alot of info out there if a person is interested by "Googling" for it.

I would rather hold my own PMs myself if possible.


Jim

Yes, ALL you got is P-A-P-E-R gold, your putting your trust where I'd not do so. Few years ago it was revealed Merril Lynch's 3rd party holdings were entirely on paper- there was no gold being held despite the annual storage fees that were also charged; in this age where the law itself is & operates essentially an organized crime syndicate I'd not trust any aspect of it including the Corporate proxies of said Gov!

I personally don't have any type of IRA, but if I did, I would rather have gold and silver in it with a trustee that I chose, than have stocks in companies that might go bankrupt, etc. Most people have assets other than what they stash under their mattress in today's world.

A person can have physical in their possession as well. Having some in an IRA is not mutually exclusive to owning physical.

Just because one or more institutions may have acted fraudulently, does not mean every one is crooked.


Jim

No not everyone is crooked per say, but the Corporate system is flawed and rigged, as have read elsewhere a person by being honest makes himself an easy victim; it does not take a law or laws to do what is right- in fact laws today are used to do wrong, loopholes & claimed unintended consequences are rife and I say designed into the system of "law" itself today. Corruption is the norm. Corporations are a creation of Gov & are not subject unto Constitutional law as they are not real persons, but rather artificial ones created by Gov in law and subject entirely to Gov their creator.

And judgment is turned away backward, and justice standeth afar off: for truth is fallen in the street, and equity cannot enter.

Yea, truth faileth; and he that departeth from evil maketh himself an easy victium: and the LORD saw it, and it displeased him that there was no judgment. Isaiah 59:14-15

I'm with you Obe on this one. You ought to run for office.We could use an American in office.
HH
Rich

When lived in Mo did run for State Rep, twice 96 & 98; it was quite a lesson for me, learned opinions trump facts & very few care about truth. even now I still speak out but most are blinded by left vs right managed thinking which they are unfortunately comfortable & satisfied with. Oh by the way ran both times against a corrupt, thoroughly corrupt man named Don Koller who is today Mo State Homeland inSecurity Director, this guy is a total snake in grass!



Missouri State House Candidates 153rd District
(R) Frank Schlernitzauer. Thayer, Missouir 65791. State Representative ... [Missouri Digital News is produced by the State Government Reporting Program of ...
www.mdn.org/1996/DATA/FILHOUSE.HTM - Cached

 

[Kauka]

i'd rather have it in my hands