You can hold a number of physical precious metal assets in a self-directed IRA, which is a specific type of individual retirement account — ranging from rectangular silver bars to gold coins, according to Kevin DeMeritt, founder and chairman of Lear Capital.
Certain qualifications apply; gold items, for instance, are required to have a purity level of at least 0.995; although one variation is allowed.
“The government has made these rules that it has to have a fineness to it,” Kevin DeMeritt says. “If it has that quality, then you can add it to an IRA; if it does not, then you cannot — [except for] an American Eagle [coin], which does not have that fineness. The government made an exception [for it].”
To receive the associated tax benefits, you can’t keep IRA-related physical precious metals in your home.
Assets that are purchased for inclusion in an IRA must be stored remotely in a facility that meets a list of considerations outlined by the IRS, which includes being able to provide appropriately sized storage space and recordkeeping capabilities.
When considering a precious metals purchase, it’s important to be aware of the associated IRA requirements so you can ensure any items you buy will be eligible. The specific properties of each asset could also potentially affect their value in the future.
What To Know About Procuring Precious Metals
Factors such as the amount that are released — or a coin being produced as a collectible or no longer being in circulation — can influence the demand for it, according to The Royal Mint, the official coin provider in the U.K.
Coins that were only released in very limited amounts might ultimately have a secondary market selling price that’s higher than their face value. If reduced availability, Kevin DeMeritt says, makes a silver coin difficult to obtain, for example, that may drive its value up.
“You could get this double-play opportunity,” he explains. “If limited mintages and an increase in demand [for a metal occurs], you [might] not only get the price of silver moving up, the premium can move up — because there’s just not enough of [the coins] out there.”
Lear Capital has helped more than 90,000 customers obtain a variety of precious metal assets in the past 27 years. Currently, in addition to its “Shrine of Democracy” coin series, featuring the U.S. presidents who are pictured on Mount Rushmore, the company’s inventory includes numerous American, Canadian, and other gold coins, which you can view on its website.
“Lear Capital is great,” investor Rick P. recently wrote in one of the Lear Capital reviews that can be found on the Trustpilot platform. “The purchase process has been very quick and easy. The website with gold and silver offerings is clear, concise and straightforward. Customer support is everything I expected.”
In one of the Lear Capital reviews shared on Google, portfolio holder Stoyan D. said the company provides “the best quality bullion you can find, at great prices.”
“Since I found Lear Capital, I have continued to buy from them,” Stoyan wrote. “Lear Capital is the best in precious metal investments, and it keeps me coming back for more. Their bullion coins are some of the nicest I’ve seen, and they will go out of their way to make sure you get what you want. If you are looking for the best gold and silver bullion money can buy, I would definitely give them a call.”
Additional Guidance
Other Lear Capital reviews also mention the company’s approach to customer service. One investor who has worked with the company, Byron B., said he now considers Lear Capital to be his trusted metals provider.
“Lear provided excellent service!” Byron said in a testimonial posted recently on Google. “Their prices were at market rate and the delivery was fast and easy.”
In late May, in another of the Lear Capital reviews on Google, Mike G. said that in his experience, the precious metal purchasing process “couldn’t have been easier.”
“I recently purchased some gold bullion coins from Lear Capital,” he said. “With a little help from Cal, my purchase showed up in about two weeks. Shortly after that, Cal contacted me to make sure I received what was ordered … I will be using them again for any future orders.”
In one of the Lear Capital reviews on Trustpilot, an investor named Richard said working with the company’s sales representatives ultimately went even more smoothly than he expected.
“Both reps were very transparent and answered the numerous questions about shipping, and if a certain coin was in stock or not,” he said. “I feel like I got the best coins that were available — and even an exclusive coin.”
According to Kevin DeMeritt, before you make a precious metal purchase, Lear Capital representatives can help you establish a self-directed IRA, if you don’t currently have one.
“We help make sure everything’s filled out correctly [and] the process goes through in a timely manner,” Kevin DeMeritt says. “Typically, you don’t want to wait around for four to six weeks to get the money transferred, and then put metals into your portfolio. We try to move as quickly as humanly possible to get that money over and get people the metals they want.”
Angel C., another investor who has worked with the company, said he appreciated the assistance he received from two Lear Capital employees, Brook and George.
“There is something about knowing that you have actual physical value stored safely — and to have the assistance of someone who shares the same values as you,” Angel said about precious metals IRAs in one of the Lear Capital reviews that have been posted on Google. “Brook was awesome to help me roll over my accounts that I had no idea I had — and George was very knowledgeable and had a teacher-like personality to help you in your precious metal purchases.”
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