Gold IRA Investment

Diversifying your portfolio and making a gold IRA investment is one of the safest ways to do so. In 1997, gold bullion and silver bullion were approved for addition to IRAs. Prior to that, only American Gold Eagle coins and Silver Eagle coins were approved for IRAs were. Investors who prefer silver in their IRAs found this change to be especially beneficial because they now can choose silver bars, which bring much lower prices than Silver Eagle coins. Additionally, the 1997 change in the law allowed platinum and palladium to be invested into IRAs.

American Gold Eagle coins are the only gold coins specifically approved for a gold IRA investment. To be eligible as a gold IRA investment, gold must be at least .995 fine (99.5% pure) and be legal tender coins or it must be bullion. American Gold Eagle coins must contain the stated amount of actual gold weight in troy ounces whether in .10 oz, .25 oz, .50 oz, or 1 oz weights. According to the law, the gold must come from American sources and be an alloy with silver or copper to produce a more durable coin. It is authorized by the United States Congress and is backed by the United States Mint for weight and content.

Because bars of gold bullion sell for lower prices than gold coins do because they’re not considered “collectible”, they are ideal for a gold IRA investment. One ounce, ten ounce and kilo bars are the most common gold bullion bars. Although the regulations that govern IRAs call for a minimum purity of only 99.5% for gold investment, most gold bullion bars are 99.99% pure. Investors with large IRAs should consider the ten-ounce and the kilo bars (32.15 ounces) because the rate at which the bars can be bought or sold carries smaller markups. Generally, the heavier the bar, the smaller the markup is.

A gold IRA investment cannot consist of the South African Krugerrand, which, at 91.67% pure, is not a legal instrument. The Krugerrand’s actual weight is 1.0909 troy ounces. It is minted from gold alloy that is 91.67% pure (22 karats), so the coin does contain one troy ounce of gold. The remaining 8.33% of the coin’s weight is copper, an alloy known historically as crown gold which has long been used for English gold sovereigns and is also the alloy of the American Gold Eagle coins. Copper alloy coins are harder and more durable, so they can resist scratches and dents. But the ratio of gold to copper alloy is not sufficient to pass the purity test required.

Gold coins or bullion are good ways secure your retirement. For a gold IRA investment to be valid, it must consist of gold that is 99.5% pure. The American Gold Eagle coin is the only US coin that is and the only coin eligible as a gold IRA investment. United Gold Direct can help you determine if these American Gold Eagle Coins are the right fit for you.