Buy Gold & Silver For Your IRA Retirement Account
BullionStar can help you buy precious metals for your IRA retirement account. The process is very simple: click on the Sign Up link and choose "Trust / Foundation / IRA" under Account Type.
U.S. Individual Retirement Accounts (IRAs)
IRAs or Individual Retirement Accounts are a common type of retirement account used in the United States. IRAs have grown popular due to their tax advantages - namely the fact that contributions to them are tax deductible (i.e., are funded from pre-tax income). Any U.S. resident with taxable income can open an IRA.
There are numerous types of Individual Retirement Accounts, but self-directed IRAs are known for being one of the most flexible in terms of what kinds of investment assets are eligible for holding within them. This flexibility means that precious metals can be purchased and held within the self-directed IRA, while still enjoying the usual IRA tax advantages. An IRA that invests solely in precious metals is typically called a precious metals IRA.
Other common Individual Retirement Account types include “Traditional” IRAs, Roth IRAs, SIMPLE IRAs, and SEP IRAs, all of which can be configured as self-directed IRAs. According to U.S. law, IRA custodians must be based in the United States, but the precious metals themselves can be stored in vaults that are either inside or outside of the United States.
BullionStar is available to assist all Individual Retirement Account custodians that offer precious metals IRAs. Our recommended custodian is IRA Club, which makes it easy to set up a self-directed custodial IRA and acquire & store precious metals from BullionStar. IRA Club offers the most popular types of self-directed Individual Retirement Accounts.
How to Open a Precious Metals IRA Account With BullionStar
1. The first step is to open a custodial account for the purpose of establishing a self-directed custodial IRA. If you don’t already have such an account, we highly recommend using our partner, IRA Club.
2. Once you have opened a custodial account, you need to fund it via either a contribution, a transfer from another IRA, or by rolling over your 401(k) or other type of retirement plan into it.
3. Next, you need to create a BullionStar account so that you can purchase and store precious metals for your IRA. Click here to create your BullionStar account. When signing up, please choose "Trust / Foundation / IRA" for Account Type in the dropdown. Type in the name of your IRA or LLC (if the IRA owns an LLC that owns the bullion) in the field for "Account Name." Choose “IRA” in the entity dropdown menu.
4. Choose your preferred precious metals products from BullionStar, place a buy order, and send the order confirmation to your IRA custodian to settle with funds from your IRA.
5. BullionStar will then process your precious metals products orders, place the products into our storage vault(s), and send you an order status e-mail and text message. At any time, you have the option to sell, audit, physically withdraw, or ship your precious metals to another depository.
Which Precious Metals Are Eligible for IRAs?
Individual Retirement Accounts can invest in investment-grade gold, silver, platinum, and palladium bullion bars as well as gold, silver, and platinum coins issued by the United States Mint and the mints of other countries. By law, gold must be at least 0.995 fine (i.e., 99.5% pure), silver must be at least 0.999 fine (i.e., 99.9% pure), and platinum must be at least 0.9995 fine (i.e., 99.95% pure) to be eligible for holding within an IRA.
Most popular gold bullion coins, including American Gold Eagles & Gold Buffalos, Canadian Gold Maple Leafs, Australian Gold Kangaroos & Lunars, Chinese Gold Pandas, Austrian Gold Philharmonics, and 2013 and later British Gold Britannias are at least 99.5% pure and are, therefore, eligible for holding within an IRA.
Most popular silver bullion coins, including American Silver Eagles, Canadian Silver Maples, Australian Silver Kangaroos & Koalas, Chinese Silver Pandas, Austrian Silver Philharmonics, and British Silver Britannias are 99.9% pure and are, therefore, eligible for holding within an IRA.
Most popular platinum bullion coins, including American Platinum Eagles, Canadian Platinum Maple Leafs, and Perth Mint platinum bullion coins are at least 99.95% pure and are, therefore, eligible for holding within an IRA.
According to IRS rules, bullion rounds (such as the Golden State Mint Silver Saint Gaudens round) are eligible for holding within an IRA, while numismatic and collectible coins are not.