How to Buy Precious Metals for Your IRA: Your 401k to Gold Ira Rollover Steps, Rules and Storage Options
Scottsdale Bullion & Coin has simplified the process of setting up a gold and silver IRA (Individual Retirement Account) into six easy to follow steps:
- Select Your IRA Plan
- Fund Your IRA
- Select Precious Metals
Scottsdale Bullion & Coin offers two different options for storing your precious metals.
Option A: Local Storage Plan
Creating a local storage plan, sometimes referred to as a home storage gold IRA, allows the precious metals to be sent directly to the manager of the IRA, so you (the IRA manager) may choose where to store your physical precious metals.
Option B: National Storage Plan
The second option is storing the precious metals in a national depository. Scottsdale Bullion & Coin works with the Delaware Depository Service Company (DDSC) and will help you establish your account with them. However, a national storage plan means the precious metals will be sent directly to the DDSC facility rather then being shipped to a local IRA manager.
To fund your IRA you must make contributions, transfers and/or rollovers from existing retirement plans such as a 401k or Roth IRA. A minimum investment of $5,000 is mandatory to start your individual retirement account (IRA) and invest in precious metals through Scottsdale Bullion & Coin.
Scottsdale Bullion & Coin will facilitate your purchase of precious metals and be your designated precious metals dealer. Our Managing Brokers will educate you on the proper investment products and provide necessary advice before choosing IRA approved precious metals.
Some of the more popular IRA approved bullion coins are:
When buying precious metals through a precious metals IRA, there are IRS rules and restrictions on what metals are allowed in the IRA. Gold, silver, platinum and palladium are all allowable precious metals, but a minimum requirement on ﬁneness of the metal is stipulated. Scottsdale Bullion & Coin will provide imperative advice on which products are eligible for investment.
To purchase the precious metals that you and your Scottsdale Bullion & Coin advisor have chosen to best meet your IRA needs, the trust company will fund the purchase one of two ways.
A. The Local Storage Option
The Directed Trust Company will fund you (the IRA manager) and you will fund Scottsdale Bullion & Coin.
B. The National Storage Plan
The Directed Trust Company will fund Scottsdale Bullion & Coin once an invoice has been submitted to the trust company.
Precious Metals are now available for pick up and/or will be shipped from Scottsdale Bullion & Coin (if local storage plan was chosen), or will be shipped directly to the DDSC national storage facility (if national storage plan was chosen).
Have Questions or Ready to Set Up Your IRA?
Contact Scottsdale Bullion & Coin | Call Now Toll-Free: 1 (888) 812-9892