If you are interested in gold IRA investing, then you should start with talking with your local securities broker. Discuss your goals and your desires for your gold IRA, and ask him or her if he or she has ever recommended an IRA gold investment. Ask them about the different options available to you, such as the rules surrounding direct sales of gold through an IRA account and whether or not there are any special rules regarding the buying and selling of gold coins. Do not be afraid to ask the tough questions, such as how long does it take for an IRA gold investment to be recognized as a valid option by the IRS, what happens if the IRS finds out that your IRA was used in a gold fraud scheme, or what would happen if you were to default on your gold IRA investment. It never hurts to be proactive, so do not be afraid to ask these kinds of questions when it comes to gold IRA investing.
Types of Gold IRA Investing
One of the best ways to protect yourself from the kinds of behavior that will get you into trouble with the IRS is to follow the gold rules. These rules generally state that you can’t directly sell gold bullion and coins to an IRA. However, you can have gold held in an IRA account for the “safekeeping” of the investor. Investors may sell gold bullion and coins to another individual or entity within the rules of the IRA, but they cannot sell or trade the precious metals for profits.
There are also special rules regarding gold IRA investing. Generally, you can’t invest in gold bullion or coins as collateral for a loan to you. So if you are considering purchasing gold coins or bullion, make sure that you have sufficient collateral to back up your investment before investing. This can make gold IRA investing a great way to increase your portfolio value without incurring huge debt.