Getting Started
You will need to choose between a Traditional IRA and a Roth IRA for your Precious Metal IRA . Traditional IRAs are funded with before-tax fund and will be subject to taxation upon fund withdrawal. Conversely Roth IRA's are funded with after-tax funds. They will not be taxed when the funds are withdrawn. Some investors choose to have both.
For your convenience, the following IRA Custodians all provide Precious Metal IRAs . Gainesville Coins has extensive experience with each custodian.
you have to agree and sign these two documents:
FYI – A Precious Metals IRA is actually a Self-Directed IRA
The benefit of a Self-Directed IRA is that you can invest in what you know. Your Self-Directed IRA account can buy precious metal, real estate, notes, limited partnerships, commercial paper and many other types of assets. The IRA Custodian maintains and updates all documentation relating to your IRA.
Follow these 3 easy steps
Step 1: Choose an IRA Custodians
Select from one of our recommended custodians or any of your choosing to purchase, receive and hold your precious metals. If you have any questions regarding Custodians, our representatives are ready to assist you.
Step 2: Open and Fund Your Account
Opening a Precious Metal IRA account is simple. To make the process as easy as possible, we've provided links to the IRA custodians regarding how to open an account - including information on rolling over existing IRA or 401k into a Metal IRA.
You will be asked to select a precious metals dealer during this process; Choose Gainesville Coins.
Step 3: Transact with Gainesville Coins
Once you have opened and funded your metal IRA, purchasing precious metals with Gainesville Coins is a simple, straightforward process. Refer to our FAQ or call us and our qualified specialist will gladly guide you through the process.
Costs Differ Among IRA Custodians
Among the factors to consider when weighing which IRA custodian to choose is cost. Each custodian will require an initial set-up fee, storage fee, and transaction fee. Below is a table summarizing the costs among the four custodians we have outlined for accounts $50,000 or less. Certain costs will be different if the account is larger than $50,000
| Advanta | |
|---|---|
| One-Time Establishment Fee | $50.00 |
| Annual Maintenance Fee | $75.00 |
| Transaction Fee | $40.00 |
Frequently Asked Questions
Gold:
- American Eagle
- Pamp/Credit Suisse Bars .999 Fine
- Canadian Maple Leaf
- Austrian Philharmonics
- Australian Nugget/Kangaroo
- U.S. Buffalo Uncirculated version
- Gold Bars-.995+Fine that are accredited by Comex, Nymex, LME, LBMA, Liffe, NYSE, CBOT or ISO 9000
Silver:
- American Eagle
- Austrian Philharmonic
- Australian Kookaburra
- Canadian Maple Leaf
- Silver Bars-.999+ Fine that are accredited by Comex, Nymex, LME, LBMA, Liffe, NYSE, CBOT or ISO 9000
Platinum:
- American Eagle
- Australian Koala
- Canadian Maple Leaf
- Isle of Man Noble Coins
- Platinum Bars-.9995+Fine that are accredited by Comex, Nymex, LME, LBMA, Liffe, NYSE, CBOT or ISO 9000
Palladium:
- Bars that are .9995+ Fine that are accredited by Comex, Nymex, LME, LBMA, Liffe, NYSE, CBOT or ISO 9000
The following list represents some of the coins that are not acceptable in a Precious Metal IRA.
- Rare or collectible coins, including certified or "graded" coins
- South African Krugerrand
- Swiss 20 Franc
- French 20 Franc
- Belgian 20 Franc
- Mexican 50 Peso
- Chilean 100 Peso
- Italian 20 Lira
- Hungarian 100 Korona
- Austrian Corona
- U.S. Liberty
- U.S. Buffalo Proof
- Dutch 10 Guilder
- British Britannia
To buy gold, silver, platinum, or palladium, you will be required to:
- Send Gainesville Coins a screenshot of your cash balance in your Metal IRA account
- Fill out and sign Gainesville Coins' terms and conditions form.
- Call us at (813) 482-9300 to conduct a transaction once we have both documents.
We will then send you a sales order which you will need to SIGN and SEND to your IRA custodian. The IRA custodian will then forward us the funds, and Gainesville Coins will process and ship the precious metals to the relevant depository or independent storage facility.