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You’ve Decided to Buy Precious Metals. Now What?

Estimated reading time: 1 minutes, 55 seconds

Sometimes deciding on what to purchase inside a Self-Directed IRA is the easy part. Perhaps you have experience with flipping real estate properties. Or you may have a background in private companies and startup capital. Maybe you just know a particular investment is right for you, and no one can convince you otherwise. Let’s say that investment is in IRS-approved gold, silver, platinum or palladium.

Regardless of the asset, it’s imperative you perform due diligence on your possible investment before making any decision. This means speaking with your team of professionals about whether the investment is right for your particular situation.

INFOGRAPH Precious Metals ProcessFor a precious metals investment, confirm what coins, bars and rounds are allowed to be held in an IRA. Find a metals broker or dealer well-versed in Self-Directed IRA investing. Also, choose a metals depository affiliated with your custodian. It’s best to discuss each of these matters with your team.

Once you’ve performed the necessary due diligence and made the decision to own precious metals with your IRA, the investment process is fairly straightforward.

  1. You (or your chosen broker or dealer) submit the required investment documents to Kingdom Trust.
  2. Once paperwork is received, we contact your chosen depository to set up a sub-account. We also send investment funds to the broker to make the purchase. At this point, we key your investment in our system as “pending.”
  3. After funds are received by the broker, the broker ships the metals to the depository. Please note that delivery times depend on the broker, the depository and the mint from which the metals are shipped.
  4. Once the depository receives the metals, it sends us a report to update your account. We then move the metals out of “pending” status and confirm them into the account.

Kingdom Trust has also created an infographic that outlines this process. Besides this page, it can be found elsewhere on our site, such as the Precious Metals IRA page and alongside other infographics.

Are you considering an investment in precious metals but haven’t yet decided on a Self-Directed IRA custodian? Consider the time-tested process and industry-leading service at Kingdom Trust.

Already performed your due diligence on this or another alternative investment? You can open an account online today in just a few minutes. If you still have questions before opening your account or making an investment, contact us for assistance.

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