Precious Metal IRAs

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Precious Metals IRAs

There have always been savers and investors want to hold a portion of their assets in precious metals. U. S. government regulations now allow a considerable range of gold, silver, platinum and palladium bullion and coins to be held as IRA investments.

 

Why GoldStar Trust?

Holding precious metals not as straightforward as other investments. If you want to invest in precious metals, there are special steps you will need to take. The custodian of precious metal assets must have highly specialized knowledge as well.

GoldStar Trust Company is one of America’s leading custodians for self-directed IRAs specializing in precious metals. Our depth of experience and proven expertise in precious metals investments make it easy to own these assets as part of your retirement.

 

Important information you’ll need to know.

Due to the highly specialized nature of Precious Metals IRAs, we’ve provided resources below that should answer many of your questions and provide assistance. Of course, you can always contact us directly with any questions about a GoldStar account.

 

DIVERSIFY YOUR PORTFOLIO WITH PRECIOUS METALS

GoldStar Trust is a leading custodian for gold, silver, platinum and palladium bullion. Through a self-directed IRA, diversifying your portfolio is easier than ever.

 

Minimum Fineness Requirements

  • Currently, gold must be .9950 pure, silver must be .9990 pure, and both platinum and palladium must be .9995 pure to qualify.
  • Bullion bars must be fabricated by COMEX, NYMEX, or ISO 9000 approved refiners in order to be accepted by GoldStar.
  • Proof coins must be ungraded, complete with certificate of authenticity and in original mint packaging.
  • All bullion coins must be uncirculated in excellent condition.

Examples of Allowable Precious Metals

Gold

  • American Eagle coins
  • Australian Kangaroo/Nugget coins
  • Australian Lunar Series coins
  • Austrian Philharmonic coins
  • British Britannia (2013 and newer)
  • British Lunar Series bullion coins
  • Canadian Maple Leaf coins
  • Chinese Panda coins
  • Credit Suisse – PAMP Suisse bars
  • U.S. Buffalo bullion coins
  • Various bars and rounds .995

Silver

  • America The Beautiful coins
  • American Eagle coins
  • Australian Kookaburra coins
  • Austrian Vienna Philharmonic coins
  • British Britannia (2013 and newer)
  • British Lunar Series bullion coins
  • Canadian Maple Leaf coins
  • Chinese Panda coins
  • Mexican Libertad coins
  • Various bars and rounds .999

Platinum

  • American Eagle coins
  • Australian Koala coins
  • Canadian Maple Leaf coins
  • Various bars .9995

Palladium

  • Canadian Maple Leaf coins
  • Various bars .9995

Examples of Unacceptable Precious Metals

  • Rare or collectible coins, including certified or “graded” coins
  • Austrian Corona
  • Belgian 20 Franc
  • British Britannia (pre-2013)
  • Chilean 100 Peso
  • Dutch 10 Guilder
  • French 20 Franc
  • Hungarian 100 Korona
  • Italian 20 Lira
  • Mexican 50 Peso
  • South African Krugerrand
  • Swiss 20 Franc
  • U.S. Buffalo Proof
  • U.S. Liberty 

A Precious Metals IRA requires special handling to set up and manage.

SETUP FEES & CARRYING COSTS
Use the examples in the chart below as a guide to calculate fees due when your GoldStar Precious Metals IRA is opened. Please see the fee schedule for specific details or call Investor Services for an estimation of annual fees.

FEES ARE CALCULATED AS FOLLOWS:
One-Time Establishment Fee – $50 (due with application)
Maintenance Fee (annual) – $75 Minimum ($1 per $1000 if > $100K)
Storage Fee (annual) – $100 Minimum ($1 per $1000 if > $100K)


FEE EXAMPLES:


ACCOUNT VALUE $100,000 OR LESS
One-Time Establishment Fee: $50
Annual IRA Maintenance Fee: $75
Annual Storage Fee:$100

TOTALS
INITIAL SET-UP FEES: $225 (Due when account is established)
RECURRING ANNUAL FEES: $175 (Maintenance plus storage)


ACCOUNT VALUE $150,000
One-Time Establishment Fee: $50
Annual IRA Maintenance Fee: $150
Annual Storage Fee:$150

TOTALS
INITIAL SET-UP FEES: $350 (Due when account is established)
RECURRING ANNUAL FEES: $300 (Maintenance plus storage)


ACCOUNT VALUE $200,000
One-Time Establishment Fee: $50
Annual IRA Maintenance Fee: $200
Annual Storage Fee:$200

TOTALS
INITIAL SET-UP FEES: $450 (Due when account is established)
RECURRING ANNUAL FEES: $400 (Maintenance plus storage)


Your Precious Metals IRA maintenance and/or storage fees may vary in the years to come according to change in account value. These fees are based on the market value of your account prior to the billing period.

 Billing

  • Maintenance fees are assessed annually on the anniversary date in which your account is opened.
  • Storage fees are assessed annually in the month Delaware Depository first received notification of the metals to be purchased.

Example
For a new investor (with an account value of $100,000 or less) the fees for the first year are $225 due when the account is opened (initial setup fee of $75, first year annual fee of $175) and $175 each following year. For a small investment, this can represent excessive carrying costs. Please bear in mind, investments in precious metals do not yield any dividends and these costs must be paid annually in cash by the investor.

You will need to choose a precious metals’ dealer, negotiate the price and initiate your purchase. GoldStar is not affiliated with any precious metal dealers and receives no compensation from investments made for your account.

Getting Started
Choose your precious metals’ dealer, negotiate the price and initiate your purchase by submitting an Investment Direction to GoldStar. Our precious metals department will notify the specified dealer when your account is funded. After we receive purchase details, the metals are shipped and payment is made from the IRA. This entire process typically takes 2-4 weeks or longer depending on how quickly GoldStar receives funds from your resigning custodian(s).


Precious Metals Dealers
GoldStar Trust Company has relationships with over two hundred precious metal dealers in the United States and Canada. You may purchase precious metals from any dealer you choose, however, GoldStar will not process a payment from your account without first performing routine due diligence on the dealer you request.

We require the dealer to:

  1. Complete and return our Dealer Questionnaire
  2. Wait for the due diligence process to be completed (about 1 business day)
  3. Complete and return our dealer contract

Research Before You Buy
We encourage you to do your own research and educate yourself before making any investment. Be an informed consumer!

  • Precious metals terms: Be aware of different terms used and what they mean such as spot, bid, and ask pricing.
  • Dealer affiliations: Is your dealer a member of the Professional Numismatists Guild or the American Numismatic Association? If so, they must abide by a code of conduct and resolve legitimate disputes or lose their membership.
  • Dealer history: Find out any information you can about a company’s history and reputation from their own website as well as a number of different unbiased sources. Beware of dealers you cannot find information about.
  • Better Business Bureau rating: To find a company’s BBB accreditation and rating, type the name into the BBB’s national search tool.

IRA assets must remain in the custody of the IRA custodian until distribution, which means that you can’t hold them yourself while in the IRA or determine your own storage facility. Precious metals for GoldStar IRAs are held within one of the depositories below. The dealer you buy precious metals from usually determines which depository will be used.

The following verbiage has been provided by the respective institutions; GoldStar Trust Company makes no recommendations or value judgments.


Delaware Depository®
Depository Trust Company of Delaware LLC dba Delaware Depository® provides high-security safekeeping, administration, and distribution services to financial institutions and commercial entities. The company is a state chartered, limited purpose trust company headquartered in Delaware. As a regulated and examined trust company, Delaware Depository is qualified to act as a custodian of IRA assets under Internal Revenue Code 408(n). Delaware Depository is the first and only precious metals depository to complete a SSAE-16 audit of internal controls. The depository is licensed by the CME Group (Nymex and Comex Divisions) and ICE Futures for the storage of gold, silver, platinum and palladium. The company operates more than 72,000 square feet of secure space and maintains $1 billion in all-risk precious metals insurance.

For more information about Delaware Depository, please visit www.delawaredepository.com.


International Depository Services of Delaware
IDS-Delaware, a state-of-the-art precious metals depository, is located in the heart of America’s east coast business corridor in New Castle, Delaware. With 24-hour monitored, multi-redundant security systems, all-risk insurance through Lloyds of London, and UL-Rated Class III vault, IDS-Delaware maintains stringent dual-control procedures and offers fully segregated and standard storage to its clients. IDS-Delaware clients receive exceptional, responsive service from trained depository professionals. Additionally, IDS-Delaware has the distinction of being an Associate of the London Bullion Market Association as well maintaining active participation in the Industry Council for Tangible Assets.

For more information about IDS-Delaware, visit www.IDS-Delaware.com.

Ready to Start Investing?

Download our Precious Metals Investment Kit that includes all of the forms you will need, brief instructions on how to get started and a checklist for new accounts.

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