Many customers choose to include precious metals as part of their Individual Retirement Account (IRA). Whether your client has an existing IRA that they would like to transfer some or all of the equity into precious metals, or if they are ready to open an IRA for the first time, we are able to help.
In order to begin investing in precious metals as part of your IRA, your client must complete these steps:
Step 1: Establishing or Transferring Your Precious Metals IRA
- Set up a self-directed account with a custodian that specializes in precious metals IRAs. If you do not currently have a custodian, we have provided three reputable precious metal IRA custodians for your convenience (see below). We do not recommend or favor one over the next, and we are not compensated by these companies. We can work with any custodian of your choosing. Please contact them for specifics in setting up your Individual Retirement Account.
Goldstar Trust Company
1401 4th Avenue
Canyon, TX 79015
(Formerly known as Sterling Trust Company)
7901 Fish Pond Road
Waco, TX 76710
Equity Institutional does not recognize Chinese gold or silver pandas as an IRA eligible item.
The Entrust Group, Inc.
9444 Double R Blvd A
Reno, NV 89521
The Entrust Group does not recognize Chinese silver pandas as an IRA eligible item.
The company you choose as your custodian will help open or transfer your IRA account, manage your funds, and establish your depository account. When setting up your account, you will need to select Upstate Coin & Gold as your preferred precious metals dealer. This allows us to deliver precious metals to your IRA account held at the depository. We are not authorized to trade on your behalf, but rather fulfill your orders.
- Set up a free account with Upstate Coin & Gold, if you have not already done so. This will provide us with your contact information and allow you to place orders with us. You can do this by going to the New Customer Registration.
Step 2: Investing with Upstate Coin & Gold
After you have established and funded your precious metals IRA account through your custodian, you are able to select the specific products you would like to invest in. Depending on the custodian you choose, the transaction will be processed either between our trade desk and yourself, or our trade desk and your designated custodian. Any questions regarding this process or the services we offer should be directed to our trade desk at 800-588-COIN (2656).
Below is a partial list of precious metals items that are approved for IRA investments. For your convenience, when browsing our online catalog, you will see an badge indicating which products are approved to include with your IRA portfolio.
Step 3: Storing Your IRA Investment
According to federal law, individuals are prohibited from privately storing their own precious metal assets that are linked to IRA accounts. Therefore, your IRA custodian will assist you finding the best method of storage for your investments.
Each deposit will show on your account through your monthly statements provided by your custodian trust company.
Liquidating Your Investment
When the time comes to liquidate your client's investments, we make this a seamless process. For clients storing at DDSC, they can simply transfer to our anonymous account by faxing a form to the depository. We can also take delivery from any depository by shipping to one of our facilities.
Please contact our trade desk to help facilitate the liquidation process.