Self-directed Precious Metals IRA
With a self-directed IRA, you have the flexibility to invest in certain precious metals - including gold and silver American Eagle coins and other gold, silver, and platinum coins and bullion. A Precious Metals IRA offers these distinct advantages:
- IRA set-up fee of $50 and flat annual IRA fee of $75
- Annual storage fee of $125 for safekeeping of precious metals
- No transaction fees for purchases, sales or exchanges of precious metals
- All metals are safely stored with a nationally recognized depository service
- Secure and segregated custody of all gold coins and bars
In addition, you can expect knowledgeable service from a team of professionals offering exceptional assistance and understanding by phone, fax and email. You will receive from the trust that holds your IRA a quarterly account statement and online access to view account activity 24/7.
An application form is required to establish a new Precious Metals IRA. The application can be obtained at www.GoldStarTrust.com.
All information on this form should be completed to prevent delays in opening your IRA account. Place Discount Gold & Silver Trading in the Representative Designation section to facilitate your precious metals trades. Lastly, be sure to sign and date your application to avoid processing delays. Value-added benefits of a GoldStar Trust Precious Metals IRA
- Flat annual fee
- Flat rate annual storage fee
- Most coins are individually marked and physically segregated – not mixed in a vault with other coins
- Online account access
- Ability to correspond with GoldStar Trust by phone, fax or e-mail
- Comprehensive quarterly account statements
Once the IRA account is established, the IRA and precious metal storage fees are paid, and GoldStar Trust receives the transfer, rollover or contribution of funds into the IRA, an Account Holder should follow these easy steps to purchase permissible precious metals:
- Place your order to purchase permissible precious metals with the precious metals broker or dealer of your choice. Permissible Precious Metals include:
- GOLD
- American Eagle coins
- Australian Kangaroo/Nugget coins
- Austrian Philharmonic coins
- Canadian Maple Leaf coins
- Credit Suisse - Pamp Suisse Bars .999 U.S. Buffalo Gold Uncirculated coins (no Proofs) Bars and rounds as referenced below
- SILVER
- American Eagle coins
- Australian Kookaburra coins
- Austrian Vienna Philharmonic coins Canadian Maple Leaf coins
- Mexican Liberated coins
- Bars and rounds as referenced below
- PLATINUM
- American Eagle coins
- Australian Koala coins
- Canadian Maple Leaf coins
- Isle of Man Noble coins
- Bars and rounds as referenced below
- PALLADIUM
- Bars and rounds as referenced below
***Coins, including the American Eagle, that have undergone “certification” (also known as “slabbed” coins) are not acceptable in IRAs at this time.
***Bars and rounds produced by manufacturers accredited by Nymex/Comex LME, LBMA, NYSE/Liffe/CBOT, and ISO-9000 or a national mint. The minimum finenesses for bars are:
- Gold .995+
- Silver .999+
- Platinum .9995+
- Palladium .9995+
Unacceptable Precious Metals include:
- Austrian 100, 20 and 10 Corona
- Belgian 20 Franc
- British Britannia
- Chilean 100 Peso
- Colombian 5 Peso British Sovereign
- Dutch 10 Guilder
- French 20 Franc
- Hungarian 100 Korona
- Italian 20 Lira
- Mexican 50, 20, 10, 5, 2 1/2, and 2 Peso Rare or Collectible Coins
- South African Krugerrand
- Swiss 20 Franc
- Discount Gold & Silver Trading will provide you with an itemized invoice that shows the type and quantity of precious metals purchased and the respective purchase price. The Account Holder must sign the invoice or the Account Holder’s designated representative (if Account Holder has appointed one in the “Optional Representative Designation” section of the Application for Traditional, Roth, and SEP Accounts) and payment instructions must be provided to GoldStar Trust. Send signed invoice along with completed Precious Metals Direction of Investment form. This Precious Metals Direction of Investment form provides the necessary authorization GoldStar Trust requires to pay the amount indicated on the invoice.
- Fax the invoice to GoldStar Trust’s Client Services at 254-751-0872
Physical Storage of Precious Metals
Through a lease arrangement, GoldStar Trust is able to utilize the precious metals storage at Delaware Depository Service Company, for its clients while maintaining physical possession of the precious metals. These facilities provide a secure depository and easy access for the physical delivery of precious metals. Each Account Holder’s coins are securely stored in an insured, physically segregated account.
Each GoldStar Trust IRA account is charged an annual safekeeping fee. Payment of this storage fee is required initially before GoldStar Trust will accept custody of precious metals. This fee is charged on a calendar year basis and will not be prorated for part of a year.
When precious metals are shipped to GoldStar Trust’s depository, the shipment will be opened in order to inspect the contents. After inspection, the contents will be deposited as follows:
Gold, Platinum, and Palladium Coins and bars (except 100 oz. Gold Bars, 50 oz. Platinum Bars, and 100 oz. Palladium Bars) are repackaged after verification and stored separately. This ensures that the client will receive the exact material as deposited when the time comes that the client decides to sell, exchange, or take an in-kind distribution (take personal possession of the material) of the metal.
Silver Coins and bars (except 1000 oz. Silver Bars) are commingled. The client will not receive the same material as was deposited when the client decides to sell, exchange, or take an in-kind distribution (take personal possession of the material) of the metal.
1000 oz. silver bars, 100 oz. gold bars, 50 oz. Platinum bars, and 100 oz. Palladium bars will be commingled at the depository. However, because these items have serial numbers, the client will receive the same material as initially deposited when the time comes for the client to sell, exchange, or take an in-kind distribution (take personal possession of the material) of the metal.
Tax laws regarding IRAs are complex and cannot be covered fully in this how-to guide. You should seek the competent advise from your financial planning professional, attorney, CPA or investment advisor.
Discount Gold & Silver Trading is not represent GoldStar Trust and you should always contact GoldStar Trust directly with questions regarding your account.
Discount Gold & Silver Trading provides you with competitive pricing, prompt shipment of your coins to GoldStar and service regarding your gold and silver coins. We would not want you to contact GoldStar for any gold or silver coin questions.
