A lot of people are now including silver and gold as part of their retirement planning. The U.S. government allows the inclusion of precious metals in your Individual Retirement Account (IRA). It is important to note that only certain types of coins can be held as part of your IRA and these requirements could change so always consult with your investment advisor.
Presently the U.S. government allows certain bullion and proof coins, such as the ever-popular gold and silver American Eagles. Once you have made the choice to have precious metals as part of your IRA you will have to specify an IRA custodian. When you are ready to take distributions from you IRA you can decide to exchange the coins for cash or take delivery of the coins you own. This gives you the opportunity to take advantage of suitable market conditions before you decide to sell.
Proof coins go through a rigorous minting process that utilizes select dies. Coin blanks are put manually into the presses where they are struck multiple times to make sure there is softly frosted, detailed coin images raised above a mirror like background. Mint inspectors analyze each individual coin before deeming it a proof and placing it in a protective plastic case. Proof American Eagles come in a satin-lined velvet presentation case with an official U.S. Mint Certificates of Authenticity.
Proof coins generally have a limited mintage and their prices are based on a whole host of factors, such as: mintage, rarity, condition, age, the current price of the particular metal, and demand. The U.S. government issues a restricted number of proof coins each year and in certain years the coins have sold out quickly. Proof coins are considered to have numismatic value, which means they have a value more then their metal content. So a proof coin will sell for more then a bullion coin.
Bullion coins are common coins with no numismatic value. The value of bullion coin fluctuates with the spot price of gold or silver at any given time. This is because there is zero numismatic value to these coins. Remember like any other physical asset there is a cost to selling any type of coin regardless of quality. Always talk to knowledgeable investment advisor.
Presently the U.S. government allows certain bullion and proof coins, such as the ever-popular gold and silver American Eagles. Once you have made the choice to have precious metals as part of your IRA you will have to specify an IRA custodian. When you are ready to take distributions from you IRA you can decide to exchange the coins for cash or take delivery of the coins you own. This gives you the opportunity to take advantage of suitable market conditions before you decide to sell.
Proof coins go through a rigorous minting process that utilizes select dies. Coin blanks are put manually into the presses where they are struck multiple times to make sure there is softly frosted, detailed coin images raised above a mirror like background. Mint inspectors analyze each individual coin before deeming it a proof and placing it in a protective plastic case. Proof American Eagles come in a satin-lined velvet presentation case with an official U.S. Mint Certificates of Authenticity.
Proof coins generally have a limited mintage and their prices are based on a whole host of factors, such as: mintage, rarity, condition, age, the current price of the particular metal, and demand. The U.S. government issues a restricted number of proof coins each year and in certain years the coins have sold out quickly. Proof coins are considered to have numismatic value, which means they have a value more then their metal content. So a proof coin will sell for more then a bullion coin.
Bullion coins are common coins with no numismatic value. The value of bullion coin fluctuates with the spot price of gold or silver at any given time. This is because there is zero numismatic value to these coins. Remember like any other physical asset there is a cost to selling any type of coin regardless of quality. Always talk to knowledgeable investment advisor.
About the Author:
Bruce Holmes is a consultant. Can you really retire? Yes with Numis Network. Check the only company that sells coins with a buy back promise Numis Network.
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