“The Cost Advantage of Holding Precious Metal Coins in Your IRA”
October 31, 2019
“Many investors who have accumulated decent growth in their retirement savings–whether IRA, 401(k)…
But many near-retirees often forget to take into account one critical caveat: not all of the money in their IRA or 401(k) is entirely theirs to keep. The point of a traditional IRA and 401(k) is to defer taxes. You still owe Uncle Sam on the total value of your contributions and gains…
The Higher Your Income, the More You Owe…
Now, if you’re on the upper end of the income spectrum, having saved $416,000 in your IRA, then you may be disappointed to see that you have $100,000 less. This is a significant figure considering that a) you need to stretch that out for the rest of your life and b) your cost of living will likely rise as the years pass.
If you were fortunate enough to accumulate over $1 Million, then the 32% tax will hit you really hard, as your portfolio, once over a million, is now nearly half that amount…
Numismatic gold and silver coins have two values: numismatic (or collectible) value and melt (or spot market) value…
- IRAs cannot accept collectibles, only financial assets.
- Numismatic gold and silver coins are both collectibles and financial assets.
- This means that an IRA custodian can only report the financial (melt) value but not the numismatic value…
If an IRA custodian cannot accept a coin’s numismatic market value but only its melt value, then upon withdrawal, you owe on its melt value only…but on the open market, you can sell it for its numismatic value, offsetting your liabilities…”
https://gsiexchange.com/the-cost-advantage-of-holding-precious-metal-coins-in-your-ira/
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