How Do I Sell My Gold IRA?
Gold investments are an increasingly popular way to diversify an investment portfolio, and in order to invest in precious metals you will need a self-directed IRA account.
As is typical with all types of IRAs, annual fees to maintain your account as well as transaction and asset fees when investing certain assets will apply.
Selling Your Gold IRA
Gold investments within an IRA offer an ideal way to diversify your portfolio with less-risky options, but it’s crucial that you comply with IRS regulations regarding annual contribution limits and only purchase precious metals that meet IRS fineness standards and are backed by reliable third parties.
Self-directed IRA accounts allow investors to invest in IRS approved precious metals such as gold bullion bars and coins, but in order to take your Required Minimum Distribution (RMD), physical silver and gold coins must first be liquidated through an IRA-compliant dealer in order to generate an RMD form for you.
Be wary of dealers that charge hidden markup fees when purchasing precious metals for an IRA, as these additional charges can significantly decrease its value. An honest dealer should offer fair market prices based on precious metals inventory prices and provide storage in their vault to prevent shipping and insurance fees charged by some custodians.
Selling Your Gold Coins
Investment of precious metals through an IRA provides you with the ability to diversify your portfolio and defend against inflation. Due to gold being a physical asset, it’s vital that you work with a reliable dealer who can offer quotes and delivery options for your order. Make sure that their reputation is good as well as asking them for references before making your final decision about purchasing from them.
By opening a self-directed precious metals IRA, you’ll be able to purchase bullion and coins as well as traditional paper assets. Furthermore, “in-kind” distributions in gold or silver coins instead of cash may also be an option.
When you’re ready to liquidate your metals, simply contact your IRA custodian and tell them the amount of gold and silver coins needed to meet your RMD requirement. Your custodian will then arrange for them to be sold directly through a dealer before having it sent directly into an IRS-approved depository for storage.
Selling Your Gold Bullion
Gold IRAs can be more complex than other retirement accounts because they require three separate providers: a custodian, dealer and depository. Some dealers and custodians advertise full service offerings while others may claim they meet your retirement goals best. You should research each provider thoroughly to assess if their offerings fit within your retirement goals.
As a gold investor, you may also choose to sell your precious metals directly to an experienced bullion buyer in order to maximize your transaction without incurring additional costs from third parties.
Peer-to-peer sales or arranged meetups with strangers should always be avoided as these sellers often charge steep markups to cover overhead expenses, leaving you with less money in your wallet. Instead, choose an established precious metals buyer like American Bullion; our experts are on hand to walk you through this process no matter which gold IRA custodian you currently utilize – it has been our specialty since 2001!
Selling Your Gold Jewelry
Finding a gold buyer you trust is the first step of selling jewelry. Do research online reviews from previous customers before choosing one to sell to. Look for trackable, insured shipping service with guaranteed prices before sending anything off to be sold; and be sure to weigh your jewelry first so you have an idea of its weight before going in to be bought by anyone.
Precious metals stored in your IRA account are considered assets and you can liquidate them at any time, as long as any income taxes owing are settled first. Some Self-Directed IRA companies even allow an “in-kind” distribution option where you receive physical possession of precious metals rather than cash as payment for them.
If you’re selling precious metals, find a reputable gold buyer that provides high-grade IRA eligible bullion products, with fast, convenient, and safe shipping both ways. American Bullion has long been considered a pioneer in this industry and provides investors with everything they need to maximize the performance of their investments through liquidations of Gold IRAs.
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