BY: Lars Forsberg
Longboat Retirement Solutions LLC
www.myselfdirectedretirement.com
The Taxpayer Relief Act of 1997 excluded certain bullion and coins from the definition of collectibles. This cleared up some things for self directed retirement investors.
Gold bullion with a fineness of .995, Silver with a fineness of .999, Platinum with a fineness of .9995, and Palladium with a fineness of .9995 can be owned by an IRA or 401k. This bullion must be fabricated by a NYMEX or COMEX approved refiner.
Coins that are allowed within an IRA or 401k are:
American Gold, Silver, and Platinum Eagles
Canadian Gold, Silver, and Platinum Maple Leafs
Australian Kangaroo, Nugget and Koala Coins, and Kookaburra
Australian Philharmonic
Mexican Silver Libertads
Platinum Isle of Man Cat and Noble Coins
Having precious metals within your retirement vehicle can help achieve diversification and offset inflation.
