view ChartWhat Are The Benefits Of A Gold IRA?
Although the Internal Revenue Service first authorized the creation of Gold IRAs in 1997 by approving the Taxpayer Relief Act many Americans are still unaware that they can use funds from their retirement accounts to purchase precious metals. An even larger number of people have heard about the Gold IRA option but have not exercised that option due to a lack of knowledge and insecurity about whether such a move would be worthwhile. The mission of the Certified Gold Exchange is to educate investors about their options regarding gold, so we have compiled a list of the most common questions regarding Gold IRA rollovers with the goal of helping U.S. investors to see the benefits of a Gold IRA.
What are the tax implications for rolling over to a Gold IRA?
Individuals who receive their IRA funds in the form of a check or bank wire have 60 days to place those funds into a qualified retirement account before penalties and/or taxes come into play. The majority of our new IRA clients direct their current custodian to place funds into a cash account and to prepare for a custodian-to-custodian transfer. This way funds never touch the household investor’s hands or bank account and the rollover can be completed in just a couple of weeks.
Do gold prices always move in the opposite direction of dollar-backed paper investments?
Gold is highly prized as a hedge, meaning that gold gains value when the dollar loses value. This is the case the majority of the time, but government intervention into US stock and bond markets, as well as gold buying frenzies and large-scale gold liquidations, can sometimes cause gold to rise with the dollar, and vice versa. As a general rule, however, gold and other commodities that are priced in USD gain value when the dollar loses value, because it takes more dollars to purchase the same amount of that commodity.
Can I take delivery of the gold I buy with my IRA funds?
Investors who have reached the age of mandatory withdraws may take delivery of the gold, silver and/or platinum stored within their IRA custodian’s vault without penalty. IRA owners who have not yet reached the age of mandatory withdraws may request delivery of their metals but the IRS will assess a penalty for such a move. It is important to consult a CPA or other qualified tax adviser in either circumstance, because Uncle Sam will eventually want his cut of your profits, as is the case with other investment products.
How do I sell the gold from within my IRA?
Selling your gold back to Certified Gold Exchange is very easy. Whether your Gold IRA is with Equity Institutional or Self-Directed IRA Services (SDIRA), all you have to do is call our Retirement Hotline toll-free at 1-800-300-0715 and tell your advisor that you want to sell your gold without paying a commission. Your advisor will inform you of the current buyback price for your metals, contact your custodian on your behalf and get the paperwork started. You simply need to sign and fax the invoice we send to you and funds will be placed, in cash, into your IRA. From that point you can move those funds into stocks, bonds, money markets or any other investment that you wish.
The benefits of a Gold IRA are numerous. The wide range of gold products available, the option of taking delivery of your metals and the rapid speed with which you can move back into cash are all reasons that dozens of clients per day ask the Certified Gold Exchange for help in moving away from paper and into a Gold IRA. For custodian options, pricing and an obligation-free analysis of your portfolio call us today at 1-800-300-0715 or select your free mail-out reports below.
Written by Pat Collins and John Halloran
My first order of business was to find a dealer that I could trust. After considerable research, Certified Gold Exchange was at the top of my list. When I contacted CGE, I was introduced to Pat Collins. From our first discussion, Pat clearly understood the situation and developed a plan.
Long story short, Pat earned my trust with his friendly demeanor, patience, and metals experience. I'll be calling CGE and Pat for my next transaction. Many thanks Pat!
From the beginning of contacting Patrick Collins the process was efficient and professional. Pat provided regular communication and helped me at every step. The length of time from start to finish was much quicker than I was expecting thanks to CGE.
I want to thank Pat and his team at Certified Gold Exchange for a smooth and efficient transaction.
being new to selling metals, Patrick walked me step by step in the process through distributions with my IRA. Whenever I contacted him with questions or concerns, he replied within an hour or minutes to resolve my percieved issues. What a comfort Patrick has been in this (at times) somewhat stressful process.
Thank you Patrick!
It was my first time selling precious metals and they made the process as seamless as possible, despite multiple hiccups caused by my chosen custodian failing miserably. I will choose this team for every precious metals purchase or sale in my future.
I decided to invest $60k and in just three months it's over $120k! Not only that, the team at Certified Gold Exchange has excellent customer service.
I highly recommend them.
When I spoke with coin dealer David White, he was able to give me a quote in 3.5 hours. He also explained the importance of shipping my coins via registered mail with the Post Office. David said that the Post Office requires a registered box to be sealed with brown paper tape to prevent tampering. David emailed me links to sites that showed the right tape to use and how to seal the box. He called several UPS stores in my neighborhood to try to find the tape for me. In the end, I bought the tape from the Post Office. David explained that while Fedex and UPS would ship the coins, since they are not allowed to ship gold or silver, I would have no recourse if my coins were lost. David even gave me his home number so I could reach him after hours if necessary.
My experience with Certified Gold Exchange, Inc. stands in stark contrast with how two other coin brokers responded. The firm from which I had bought most of my silver coins never called me back. On November 13 when I called the broker from whom I had bought most of my gold coins, I couldn't get through on the phone. So, I emailed them and it took 5 days for them to respond! The broker didn't give me a quote until December 2 -- and then only for some of the coins! He said he would tell me what they would pay for the other coins after I shipped them!
In addition, that broker explained that one of their customers had lost all their coins valued at $22,000 because the box was tampered with and they had failed to insure them for the full amount. However, I knew by then that if the firm had told the customer to ship the coins via registered mail as Certified Gold Exchange, Inc. does, the box could not have been tampered with.
So, Certified Gold Exchange, Inc. is the only gold and silver dealer I recommend. The level of service is truly remarkable.
Your interest in helping me on such short notice shows how much you care for your clients. I hope 🤞 to have you as one of my financial team in the future.
Protect Your Retirement!
Avoid These 10 Gold IRA Scams.
Avoid These 10 Gold IRA Scams.
10 GOLD IRA SCAMS
DEALERS USE ON YOU
DEALERS USE ON YOU
