American IRA Announces A New Blog Post Gold and Precious Metal IRAs – What’s Legal to Own in a Self-Directed IRA
Atlanta, GA (PRWEB) January 28, 2015 -- Gold and Precious Metals is a popular investment type within Self-Directed IRAs. The American IRA team gets loads of inquiries as to what is and isn't permitted. In response, they have released their latest blog post, Gold and Precious Metal IRAs – What’s Legal to Own in a Self-Directed IRA.
The blog begins by saying "Generally, Internal Revenue Code Section 408, which defines allowable Self-Directed IRA holdings, prohibits investment in collectibles, including gems and jewelry. But paragraph (m)(3)carves out some important exceptions." The exceptions go on to describe certain coins that are prohibited and a list of coins that are permitted. It seems that the most confusion that arises with precious metals investing is which coins are and aren't permitted. The point of confusion becomes which coins are deemed precious metals by the IRS and which are deemed collectibles by the IRS. Since collectibles are prohibited within IRAs, it is critical to know the difference.
Important rules are explained throughout this blog such as the specific parameters that gold coins must meet to be allowable including requirements for diameter, weight, and purity.
Covered next in the blog are silver and platinum coins. Readers will find that they are permitted to invest in these as long as they follow the guidelines provided by the IRS.
To read this blog in its entirety, click here.
About American IRA, LLC:
American IRA is committed to providing every client with gold-level service, regardless of account size. Experience their expertise through their certified IRA services professionals. Enjoy the value with one low annual fee of $285 with unlimited assets and unlimited account values. American IRA clients love the benefit of no charge for "All Cash" accounts. The performance of the American IRA staff is unmatched, with quick and efficient processing within 48 hours.
American IRA services thousands of clients and has over $300 million in assets under administration.
American IRA was built by investors for investors, and brings their successful investment experience to the table, providing excellent educational material showing the public that their self-directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
American IRA is conveniently located in Asheville, NC and Charlotte, NC, and serves clients nationwide.
Sean McKay, American IRA, LLC, http://www.americanira.com, +1 (828) 257-4949, [email protected]
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