Can my gold silver IRA include certified coins?

This is one of the most common questions that we receive from individuals with retirement accounts. The term “certified coins” usually means one of two things to investors and both definitions are correct.

US Gold and Silver Coins Minted Prior to 1933 and Found to Be in Mint Condition

Older coins are often “certified” by third-party grading services such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC). These organizations certify coins for their authenticity and condition. These coins are popular investments outside of retirement accounts because they allow investors to store an extremely large amount of wealth in an extremely small space, and they sometimes outperform the gold bullion market. However, coins that have been certified by a third-party grading service are not eligible for placement within an IRA.

Modern-Day Gold and Silver Bullion Coins

Other people think of government-issued bullion coins whose weight and purity have been guaranteed, like American Eagles. Many mints issue certificates that guarantee the coin’s specifications and some buyers will demand these “certs” before accepting a trade. This is especially true of the American Eagle Proof coins because Eagle Proofs are the only collectible coins that are accepted by IRA custodians. Modern-day gold and silver bullion coins that have been certified for weight and purity are IRA-allowable, as long as they have been minted by the US Mint, the Royal Canadian Mint, the Austrian Mint, the Australian Mint or the Mint of Mexico.

Some companies dupe people into purchasing modern-day bullion coins that have been certified by PCGS or NGC but these coins are not rare or numismatic like their antique counterparts. After all, a 150 year old coin that is in perfect condition is something special but a brand new coin is supposed to be flawless. Grading new coins not only makes them ineligible for IRA placement, but it also costs money that the investor will not recuperate at the time of liquidation.

More clarification on the types of coins that can be purchased with retirement account funds is available in Real Money Magazine, available free via the link below. Investors with specific questions regarding their IRA and 401k accounts are encouraged to call our Help Desk at 1-800-394-3337 today.

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