What are Precious Metals?

Precious metals may be held within a retirement account and include gold, silver, and platinum in the form of American Eagle coins and other bullion, coins and bars which are manufactured by a NYMEX or COMEX approved refiner/assayer and meet certain minimum fineness requirements. In section 408 of the Internal Revenue Code, the IRS places certain restrictions on the ownership of certain precious metals within a retirement account, such as numismatic coins. Precious metals are usually purchased by a precious metals broker or through one of the online precious metal brokerage firms.

Most custodians require precious metals to be physically stored in safekeeping with a precious metals depository. Such depositories specialize in holding precious metals and will deliver the metals as instructed by the custodian.

Some retirement account custodians offer account owners the opportunity to invest in precious metals through the purchase of Perth Mint Certificates. The Perth Mint is a depository that offers a comprehensive storage and trading program under the guarantee of the government of Western Australia. Perth Mint Certificates are offered through the certain U.S. dealers approved by the Perth Mint.