Precious Metals Dealers – they are a dime a dozen. And you will probably find at least that amount, if not more, listed as Resources on the websites of our competitors. But the last thing Preferred Trust Company wants to be is like our competitors. For Preferred Trust Company it is not just a numbers game. And while we could certainly provide a list of every precious metals dealer that our clients have purchased metals with – that would be a disservice. Not all precious metals dealers are created equal. The two companies listed below have a proven track record with our clients in providing superior customer service, reasonable pricing, and delivery of metals in less than thirty days. It is up to you as the IRA account owner to do your due diligence and research the companies you are considering working with to purchase precious metals as an investment in your IRA.
Strategic Wealth Preservation (SWP) is an offshore precious metals dealer and secure storage facility located in the Cayman Islands. We specialize in the sale and secure storage of precious metals for individuals, companies, and Individual Retirement Accounts (IRAs).
We have partnered with major US wholesalers and mints to create a highly liquid two-way market for precious metals trading within our vault. We are an approved distributor of the Royal Mint, Perth Mint and several LBMA approved refineries. We offer our clients access to a full range of pure gold, silver and platinum bullion products at premiums competitive with the US domestic market. Benefit from the advantages of holding precious metals in your self-directed IRA in the best offshore jurisdiction in the Western Hemisphere.
St. Joseph Partners is an active proponent of our military, police and first responders, leading a volunteer brigade of over 100 nationwide who weekly endeavor to support and protect those who risk their lives for us.
Our investment platform is a competitively priced gold & silver dealer offering IRAs, domestic and international storage, safe installations and the full spectrum of precious metals brokerage services. We actively buy all forms of precious metals.
If you are interested in buying or selling gold or silver, compare us with other dealers – we will make your precious metals experience convenient, efficient, safe and pleasant.
Facts you need to Know:
Asset diversification is crucial when it comes to selecting the investments that will create a strong and viable retirement portfolio. Precious metals are one type of asset that provides you with the opportunity to invest in something tangible that can weather a financial crisis. Investing in gold, silver, platinum and/or palladium minimizes your exposure to losses when other types of investments lose value. Unlike stocks and bonds, precious metals have inherent value and, metals can be held for an infinite amount of time. You control the ability to purchase and sell the metals in a tax-deferred or tax-free (Roth IRA) environment until which time you decide to withdraw your bullion or coins and take direct physical possession of them.
IRS Approved Precious Metals
In 1997, Congress passed the Taxpayer Relief Act which expanded the precious metals holdings allowable in IRAs. Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce US gold coins, or one-ounce silver coins minted by the Treasury Department. It can also invest in certain platinum coins and certain gold, silver, platinum, and palladium bullion. Proof coins must be encapsulated in complete, original mint packaging and include the certificate of authenticity. Small bullion bars must be manufactured to exact weight specifications and non-proof bullion coins must be in brilliant uncirculated condition and free from damage.
Gold must be 99.5% pure and must be produced by a refiner/assayer or manufacturer that is certified/accredited by NYMEX or COMEX and meets minimum fineness requirements. Below is a list of acceptable gold products.
Silver bullion bars must have a minimum pureness of 99.9% and must be produced by a refiner/assayer or manufacturer that is certified by NYMEX or COMEX. Below is a list of acceptable silver products.
Platinum bullion bars must have a minimum pureness of 99.95% and must be produced by a refiner/assayer or manufacturer that is certified by NYMEX or COMEX. Below is a list of acceptable platinum products.
Palladium bullion bars must have a minimum pureness of 99.95% and must be produced by a refiner/assayer or manufacturer that is certified by NYMEX or COMEX. Below is a list of acceptable palladium products.
Precious Metals Dealers
Investing in precious metals can potentially be a good way to diversify your retirement portfolio, however, the companies that sell precious metals are not all created equal. Truth be told, it is an industry that is not at all regulated. Stop and think about that for a minute – ZERO regulation. These are companies selling you investments that will affect your future retirement. These are companies that are not licensed or registered to provide investment or trading advice. This may be why the industry has been so highly scrutinized in recent years – specifically when it comes to the pricing and the delivery of the metals you purchase.
The daily spot price of metals can be found through various web sites such as https://bullionvalues.org/. These prices are important to know as you compare precious metals dealers. Certain sales tactics have been known to be used by dealers to persuade investors to purchase metals at premiums between 40 percent all the way up to 200 percent above the spot price. This can cause quite the heartache for clients that need to liquidate their investment; often returning to the dealer who offers to purchase back the metals at a fraction of the original cost.
Many dealers have designated themselves as “IRA experts” when they have no license to do so. IRA Custodians are licensed and regulated by the Internal Revenue Service (IRS) and the Department of Labor (DOL). Precious Metals dealers are commissioned salespeople paid according to the products they sell. They have no fiduciary responsibility to you.
Most states have commodity laws that require that each commodity purchased under a contract must be delivered between 7 and 28 days.
These are important factors to consider when selecting a dealer. The US Commodity Futures Trading Commission issued a report to help consumers identify fraud related to precious metals dealers.
Precious Metals Depositories and Storage Options
Selection of the precious metals storage facility is an important part of the investment process. It is up to the account owner to perform all necessary due diligence related to the depository.
Per the IRS, precious metals invested using your IRA must be held in the physical possession of a bank or an IRS-approved nonbank trustee. You may not personally store the precious metals that are owned by your IRA. This rule also applies to indirect ownership through an IRA owned LLC. Specific factors to consider when selecting a depository include location, security, licensing, insurance, storage fees and types of storage offered; segregated vs. non-segregated. It is important to understand that the custodian of your IRA does not physically store your precious metals. They are a separate entity.
Some depositories only provide segregated storage options for certain types of coins and bullion while others don’t offer segregation. It is important to understand the different depository storage options prior to purchasing the metals.
With segregated storage the bullion is inspected, packaged, labeled, and stored, physically separate and apart from the bullion of other Preferred Trust Company clients. Typically the cost of segregated storage is more than the cost of non-segregated store. The segregation of metals guarantees that you will receive the same exact bars or coins that were originally purchased upon distribution.
With non-segregated storage, fungible bullion products (which by nature are commercially interchangeable) are inspected and stored in high-security vaults. Clients that select non-segregated storage benefit from significant cost savings because the bullion is stored in bulk.
The storage of your precious metals investment at a depository will also incur a separate fee. Custodians and depositories work independently of each other and have separate fees for their services. Most storage facilities provide an invoice to the custodian annually while others bill quarterly. Since the cost of storage is a direct an expense associated with the investment the fee must be paid from qualified funds; this means that you cannot use a credit card or pay the depository directly.
Please visit our Investment Services page to learn more about specific depositories.
As a self-directed custodian, Preferred Trust Company does not endorse, offer, or sell any investments. Preferred Trust Company does not provide any tax or legal advice. Resources are provided for general information. We strongly recommend that the investor seek professional advice from the appropriate legal, accounting, and / or tax professionals prior to making any investment decisions. Selection of the investments and the performance of those investments are the sole responsibility of the investor and not Preferred Trust Company.