Gold Backed IRA
The definitive retirement asset having the most solid long-term value just may be a gold backed IRA with gold coins and bullion. Among the investment vehicles most often used in retirement planning (stocks, bonds, annuities and savings accounts) gold stands out as the only one that does not depend on the performance of another individual or institution for its value. Referring to gold, former president of France, Charles DeGaulle once said, it ‘has no nationality and is eternally and universally accepted as the unalterable fiduciary value par excellence’. What better way to save for retirement than with the ultimate savings vehicle — physical gold.
At the time of this writing, gold bars must have a purity of 24 karat (0.995+ fineness) to be allowed into a gold backed IRA. A NYMEX- or COMEX-approved refiner/assayer must have also stamped them with an assay mark. These bars are produced in 1 ounce, 10 ounces, kilo (32.15 ounces), 100 and 400 ounce bars. With the exception of the 22 karat American Gold Eagle Gold, only coins having a purity of 24 karat (0.9999 fineness) are permitted in an IRA. The South African Krugerrand, being a 22 karat bullion coin, is not permitted as part of a gold backed IRA. Readily available and permitted for use in a gold backed IRA are the bullion coins from the US, Australia, Austria, and Canada.
There is a vast difference in owning bullion versus investor coins. If you had purchased $25,000 of gold bullion coins in the early 1970s and held on to it during the oil crisis, inflation, devaluation of the U.S. dollar, Savings and Loan scandal, recession, tech and internet bubbles, cooked books, 9-11, and the recent real estate bubble you could sell that gold today for $524,999, a little over half a million dollars. If, on the other hand, in the early 1970s you had purchased $25,000 of limited mintage investor gold coins and kept them for the next 40 years, you could sell that gold today for $1,377,257, over two and a half times as much!
A gold backed IRA is the empyrean asset. It is the purest form of money, and the oldest, most durable wealth-preserving agent known to man. Governing boards can’t declare or alter its value. Gold has thus survived every economic catastrophe and pinnacle history has ever encountered, and it has preserved investors’ purchasing power for a span of more than 5000 years and will continue to do so for your gold backed IRA.
Gold has always been referred to as the “crisis commodity”, surviving negative economic, political, environmental, or monetary conditions. All these contribute to rising gold prices. This is why investors are rolling their retirement accounts into Roth and Traditional gold backed IRA accounts. United Gold Direct can assist you in determining the right diversity in your gold backed IRA.