More and more people are choosing to add precious metals to their IRAs, and this practice is widely recommended by financial advisers as it protects against inflation. Here is a brief look into the precious metal storage process for IRAs:
When you place precious metals in an IRA, you are not allowed to take physical possession of the metals, so a third party fiduciary must be contracted. There are many secure options, but California Numismatic Investments recommends New Direction.
This fiduciary accepts the funds you wish to use and then assists in the purchase of the metals you choose from your broker or gold dealer, taking shipment of the metals and holding them until you decide to sell them. California Numismatic Investments will purchase the metals whenever you decide to sell and place the money back into the IRA where it will continue to mature.
This seemingly complex process protects you as a consumer and ensures maximum savings and returns. For more details on how precious metal IRAs work, contact California Numismatic Investments online or call (800) 225-7531.