Author Topic: Finding a PM IRA Trust  (Read 1769 times)

inbox485

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Finding a PM IRA Trust
« on: April 23, 2010, 01:50:52 PM »
I'm thinking about rolling my 401(k) into a PM IRA, and I'm not sure where to start on getting a trust. I'd feel somewhat better if it was local (I'm in SoCal), but fees are also a concern. I'm hoping somebody here has been down this road already.

Offline chris

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Re: Finding a PM IRA Trust
« Reply #1 on: April 23, 2010, 01:57:55 PM »
Not local, but you can transfer your 401 to Euro Pacific capital and invest it in PM's.

inbox485

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Re: Finding a PM IRA Trust
« Reply #2 on: April 23, 2010, 02:09:03 PM »
Not local, but you can transfer your 401 to Euro Pacific capital and invest it in PM's.

I was looking for an IRA trust that would act as custodian of the actual metal. I'm hesitant to simply invest in PM stocks given the evidence that the stocks aren't being backed by real commodities.

Offline Awakened

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Re: Finding a PM IRA Trust
« Reply #3 on: August 17, 2010, 02:09:21 PM »
We've tried two options:

1) Entrust will administer this type of account. The actual investment we did with our IRA was through Goldmoney.com. This is a bonafide site that holds silver and gold for you in offshore vaults. The gold and silver is audited regularly and the holdings are insured by Lloyd's of London. The upside is that you hold actual grams of metal in a vault in your name. The downside is that there's a bit of a cost associated with holding the metal, and a quarterly admin fee with Entrust. In the end we chose to go with option two, after paying above fees for about 2 years.

2) Central Exchange Fund of Canada. They hold silver and gold bullion in a vault up in Canada, and sell shares to investors. So you don't actually have your name associated with your own little pile of metal, but you do buy shares in CEF, which owns the metal. There are no holding fees, and the shares are pretty easy to buy and sell. This is similar conceptually to an ETF, although, it is legit. I believe that most ETFs don't own the metal they claim to possess. CEF is an exception: they are audited regularly, and come recommended from good sources:

http://www.goldstockbull.com/articles/central-fund-of-canada-cef-safest-way-to-own-gold/

Having had both an account in option 1) and 2), I can say that both performed similarly over an 18 month period, which is what you would expect. It's just that option 2) could be liquidated directly by me online, like a stock trade. To sell the position in option 1 required about a week's worth of phone calls, faxes, sell orders, etc.

Hope this helps anyone looking to hold PMs in their IRA.