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Does it matter whether an investment utilizes IRA-approved gold or not? A typical Individual Retirement Account (IRA) is becoming a more volatile holding as the global economy flounders. However, there is a great opportunity to hedge your portfolio by utilizing a precious metals IRA, such as a gold IRA.
Knowledge is crucial in gold investment, and Oxford Gold Group is passionate about educating people about securing and leveraging their gold assets. Do you want to ensure access to a reliable retirement fund or savings account as the global economy becomes uncertain? You need IRA-approved gold deposited in an IRA-approved storage facility.
An IRA allows you to hold a litany of alternative assets, including precious metals, but these accounts do have legal limitations. Part of dealing with gold or silver is determining which sources offer IRA-approved gold that is readily available. Past regulations limited IRAs to American Eagle silver coins and gold coins, but today’s IRAs are far more flexible.
Now, these investment vehicles allow IRA-approved gold, silver, palladium, as well as platinum bullion, coins, or bars. Unfortunately, many commemorative coins and other types of widely distributed gold do not meet the fineness standards and other requirements. Gold sellers are persuasive in trying to get you to buy gold that is not eligible for an IRA, and it is important to understand the implications.
Below, the Oxford Gold Group breaks down everything you need to know about acquiring, investing, and storing IRA-approved gold. Feel free to reach out to our precious metal investment professionals today to learn more about gold, silver, palladium, and platinum bullions and coins.
Precious Metal Qualifications: STRATA
Due to the Taxpayer Relief Act of 1997, precious metal holding has expanded to include a variety of coins, bars, and bullions. However, the metal must follow STRATA regulations to qualify as a type of IRA-approved precious metal. The minimum requirements include:
- Gold must be 99.5% pure, silver must be 99.9% pure, and palladium and platinum must be 99.95% pure.
- The bars and coins must be from a refiner, assayer, or manufacturer accredited by NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 9000, or a national government mint.
- Proof coins need to be in their original, complete mint packaging, and in superb condition. It should also include a certificate of authenticity.
- Approved manufacturers must create any smaller bullion bars to precise weight specifications.
- Non-proof (bullion) coins must be in a stellar, uncirculated condition without a trace of wear and tear.
A Comprehensive List of IRA-Approved Gold
IRA-approved gold coins and bars require a .995% purity level to be eligible for investment. Oxford Gold Group’s experts outline the most popular gold bullions and bars available below for a better sense of what we can invest for you.
The United States markets circulate plenty of IRA-approved gold coins, so keep your eyes open for gold sellers that offer these types of coins:
- American Gold Eagles: These are 91.67% pure coins weighing 1.0909 troy oz. (contains one troy oz. in gold).
- American Gold Buffaloes: As the U.S. Mint’s first 2006 distribution of 1 oz. .9999-gold coins, the American Gold Buffalo coins strongly rival their Canadian Maple Leaf counterparts.
- Australian Gold Kangaroos: The Western Australian government owns Gold Corp, the company that produced the first Australian Gold Kangaroo coins in 1987. These coins act as legal tender within Australia and also appear in nougat form. It is both a popular investment object and a sought-after collector’s item.
- Austrian Gold Philharmonic: The sophisticated coin is easily identifiable by its classic Musikverein design. It has a vintage look featuring musical instruments such as the cello, harp, violin, and French horn.
- British Britannia Gold Coins (2013 and newer): At 1 troy oz., the first Britannia coin exhibited a .999 (24 carat) fineness. The prominent face and a brighter, full-gold color make this one of the most distinctive versions of the Britannia coin ever produced.
- Canadian Gold Maple Leaf: The Royal Canadian Mint guarantees the purity of these coins, which come in mint tubes in packs of ten.
- Canadian War of 1812 Gold Coins: The Royal Canadian Mint guarantees these extremely limited-edition coins, issued on the bicentennial of the War of 1812.
- Chinese Panda Gold Coins: Boasting 1oz of .999 fine gold, The People’s Bank of China guarantees these coins. The image depicts a panda eating bamboo.
- 2014 Gold Canadian Arctic Fox: This coin hails from the Royal Canadian Mint with 1/4 oz. of .9999 fine gold.
- 2016 Golf Canadian Snow Falcon: The beautiful coin features a snow falcon and Her Majesty Queen Elizabeth II. It is a timeless piece containing 1/4 oz of .9999 fine gold.
- Credit Suisse Gold Bars: The prestigious Credit Suisse Mint in Zurich, Switzerland, mints these bars with minimum purity levels of 99.99%.
- Johnson Matthey Gold Bars: As some of the finest gold available for purchase, it is rare to see these bars up for sale. They come in a litany of denominations, all meeting .9999-fine gold purity levels.
- Valcambi Gold CombiBar: The unique aspect of these 0.999% pure gold bars is that they are divisible into fifty 1-gram bars.
Investors have a myriad of gold coins and bars available as IRA-approved gold, including the popular choices we mention above. The choice can be simpler with our specialists on board, so feel free to reach out to Oxford Gold Group for help choosing or identifying gold coins that may be IRA-eligible.
Ineligible Precious Metals for IRA Investing
Commemoratives, numismatic items, and rare collector’s coins generally tend to be ineligible for IRS or IRA-related investments. The following bullions and bars are extremely popular but may not be acceptable for all IRA investment vehicles for various reasons:
- French Napoleon coins
- Switzerland Vreneli coins
- USSR Chevroneet coins
- Austrian Corona
- Russia’s George the Victorious coins
- Mexican Gold Peso coins
- Dutch 10 Guilder
- French 20 Franc
- U.S. Liberty coins
- South African Krugerrands
- Chilean 100-peso coins
- Israeli Tower of David coin
Be wary of precious metal IRA dealers who attempt to sell you these coins for the purposes of investing in a gold IRA. Either the seller is not knowledgeable enough about the IRA and IRS-approved standards, or they have nefarious intentions. These coins often miss the purity standards for IRA-approved gold or silver, and Oxford Gold Group’s professionals will be happy to tell you more about whether your coins are eligible.
Benefits of Investing in IRA-Approved Gold
Gold and silver investments present several advantages over traditional investment vehicles. Below, Oxford Gold Group explores a gold IRA’s potential for growth, security, and storage.
#1 Longevity and Growth
There are so many options for investing online, whether in stock markets, cryptocurrencies, or a tangible asset. Gold provides both stability and portfolio diversification for individuals looking to safeguard their wealth over time. It also appeals to institutions like banks, governments, and businesses.
A retirement investment in a precious metals IRA can prove considerably beneficial. Unlike a 401k or similar retirement accounts, the dollar does not support any IRA-approved gold account’s contents; dollar depreciation will not affect your stored gold’s market value.
#2 Protection Against Dollar Fluctuations
Many investors turn to gold, silver, and other precious metals when the dollar loses value, and investing early will put you ahead of the rising price point. Likewise, gold demand increases with rising inflation, typically leading directly to an increase in the gold price. Gold IRA investors stand to benefit significantly from these two market forces, especially if they began investing earlier in life.
Why is an IRA useful for reaping a more substantial return on investment? You protect your assets from the inflationary effects (including dollar depreciation) and safeguard your portfolio’s progress in the long run. Oxford Gold Group’s specialists strongly recommend that all our clients secure as much gold as they can; each ounce will count instrumentally toward the future.
#3 Tangible Precious Metal Wealth
Market experts predict gold could increase considerably within the next decade, while global mining companies estimate that humankind will have mined all gold deposits on Earth in the next two decades. It is one of the best times in history to hold gold as an asset or retirement investment for its physical durability and exceptional value retention.
A precious metal IRA gives you the combined benefits of holding onto physical gold and receiving tax benefits from your government-approved retirement account. Oxford Gold Group can help you find IRAs that keep your gold in a highly secure depository until the day you decide to retrieve distributions. We can also talk you through adding many other investment types to your precious metal IRA, supplementing it with stocks, mutual funds, real estate, mortgages, and more.
Many investors utilize IRAs for retirement savings while maintaining additional reserves at home for safekeeping. It is a personal process that will differ from person to person depending on their financial goals and resources.
Learn More About Investing in IRA-Approved Gold Investment Plans
Oxford Gold Group’s professionals know everything there is to know about gold investing, as well as other precious metals. A pre-planned retirement is one that promises comfort and flexibility to enjoy life as you always imagined. IRA-approved gold investments help secure that future.
Call Oxford Gold Group at (833)-600-GOLD today to chat with our experts about savvy investing in IRA-approved gold.