American IRA Discusses Should Investors Own Gold or Silver in a Self-Directed Precious Metals IRA?
Friday, November 8, 2019 3:00 AM
ASHEVILLE, NC / ACCESSWIRE / November 8, 2019 / In uncertain economic times, investors often turn to gold and silver. These investments are commonly known as "hedge" investments because they bring an investor out of a single currency and into a broader range of asset classes-in this case, precious metals. With declining interest rates across the world, and bonds yielding negative rates, some investors find themselves flocking to precious metals to retain value. But is it right within a Self-Directed IRA? A recent post at American IRA asked that very question.
As the post noted, there are a number of reasons that investors might turn to gold and silver. For example, an investor concerned about recession might invest in gold and silver on a speculative basis, believing that the prices of gold and silver are set to increase as worry over the economy comes to the forefront and steals the headlines. This can potentially lead to investors flocking out of the stock market and into alternative assets-including gold and silver.
Holding gold and silver within a Self-Directed IRA is allowed by the IRS, but only in specific circumstances. The post notes that specific types of gold and silver (typically bars and coins) are the preferred store of value within a Self-Directed IRA that holds precious metals. These gold and silver bars would also be expected to uphold to a certain standard of purity. It is not as simple, the post notes, as buying gold and silver and storing them in a safe.
"Investors are typically left wondering what to do when it seems like there's no safe place for their money," said Jim Hitt, CEO of American IRA. "As a Self-Directed IRA administration firm, American IRA does not give specific advice on what to do. But we do introduce people to the topic of holding precious metals within a Self-Directed IRA. It's information that everyone should have. A Self-Directed IRA means the investor makes their own decisions as to what assets they acquire."
For more information on holding gold and silver within a Self-Directed IRA, visit the American IRA website at www.AmericanIRA.com. Interested parties may contact American IRA at 866-7500-IRA (472).
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA."
SOURCE: American IRA, LLC