Precious Metals IRA (PM IRA)

As a Better Business Bureau accredited precious metals dealer, Private Bullion works regularly with investors who want to buy bullion for their Precious Metals IRA, sometimes referred to as a Golden IRA. The increasingly popular Precious Metals IRA (also known as a PM IRA) is an IRS recognized savings method that allows investors to add physical gold or silver bullion to their IRA savings accounts.

Setting up a Precious Metals IRA is simple and requires very little time or effort. Many of these Precious Metals IRA programs are tax-free and tax-deferred and include programs like the Health Savings Account (HSA), which allow you to set aside funds for future health care expenses. Other plans include the Traditional IRA and the Roth IRA, Simple and Sep IRA`s as well as 401K`s. IRS restrictions require that your metals are stored at a federally approved storage facility, which is fully insured.

Watch our Precious Metals IRA introductory video, and Contact Us today with any questions about setting up a Golden IRA. We'll be happy to help you through the process.

Getting Started with Precious Metals Golden IRA:

Establish your Precision Metals IRA

• Application: Complete the required application form that indicates the type of Precious Metals IRA, you are applying for. In most cases you will be choosing a Traditional, Roth, SEP or Simple IRA.
• Account Transfer Form: Complete the Account Transfer Form. This is the form that releases the funds from your current IRA custodian. The transfer process can take 2 – 4 weeks
• Distribution and Rollover: An alternative to the direct transfer, you may take a distribution from your current IRA and rollover the funds to the newly selected Precious Metals IRA custodian. You have 60 days to complete the transaction and keep it from being a taxable event. You are responsible for initiating the distribution and rollover. This process can take 7 – 14 days.
• Payment of fees: Once you have completed the necessary paperwork, you will need to send a check or money order to the custodian for the one time IRA setup fee, the annual IRA fee, and the annual storage fee for your metals. These fees associated with your Precious Metals IRA are determined by how much you invest into the program.
• Send your Application, Account Transfer form, and payment of fees to the custodian using only certified mail. You will also need to provide a copy of your previous IRA statement and a copy of your identification card.

Choosing your precious metals:

Once the Precious Metals IRA account is established, the PM IRA and precious metals storage fees are paid, and the PM IRA custodian has received the funds transfer, it is now time to select the metals you will hold in your new Precious Metals IRA account.

Approved Precious Metals for a Golden PM IRA Include:

• GOLD: American Eagle coins, Australian Kangaroo/Nugget coins, Austrian Philharmonic coins, Canadian Maple Leaf coins, Credit Suisse – Pamp Suisse bars (.999), U.S. Buffalo Gold Uncirculated coins (no proofs) Bars and rounds produced by manufacturers accredited by Nymex/Comex, LME, LBMA, NYSE/Liffe/CBOT, and ISO – 9000 or a national mint. The minimum purity for gold bars: .995.
• SILVER: American Silver Eagle coins, Australian Kookaburra coins, Austrian Vienna Philharmonic coins, Canadian Maple Leaf coins, Mexican Libertad coins, Bars and rounds produced by manufacturers accredited by Nymex/Comex, LME, LBMA, NYSE/Liffe/CBOT, and ISO – 9000 or a national mint. The minimum purity for silver bars: .999 fine
• PLATINUM: American Eagle coins, Australian Koala coins, Canadian Maple Leaf coins, Isle of Man Noble coins, Bars and rounds produced by manufacturers accredited by Nymex/Comex, LME, LBMA, NYSE/Liffe/CBOT, and ISO – 9000 or a national mint. The minimum purity for platinum bars: .9995 fine
• PALLADIUM: Bars and rounds produced by manufacturers accredited by Nymex/Comex, LME, LBMA, NYSE/Liffe/CBOT, and ISO – 9000 or a national mint. The minimum purity for palladium bars: .9995 fine

After you have chosen the precious metals to be held in your new Precious Metals IRA, your metals broker/dealer then secures the price, and submits a confirmation to the PM IRA custodian for funding. Once your metals broker/dealer receives your funds from the PM IRA custodian, your metals are sent to a federally approved storage facility. Your precious metals are fully insured, and stored in a segregated golden IRA account in your name. You will receive a comprehensive quarterly account statement that details the market value of your holdings, and you will also be provided with full online access to your account. The custodians are available by phone, fax or email to answer any questions you have about your Precious Metals IRA account.

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NOTE: Midwest Bullion Exchange, Inc. is a precious metals broker/dealer and is not a licensed investment adviser.  Although we strongly advocate programs that allow you to hold precious metals in your retirement, we cannot predict the future performance of precious metals or programs that allow precious metals. Furthermore, we recommend that you consult with a professional tax adviser when making decisions that carry tax liabilities. Midwest Bullion Exchange, Inc. reserves the right to decline services to individuals after it has been determined the products and services offered by Midwest Bullion Exchange, Inc. are not suitable for the individual.