Gold in my Retirement Plan?

OK, Fella's... another rookie query for you...
I'm given to understand that IRS rules permit me the opportunity of owning gold coins within the scope of my [tax-deductible] retirement plan. If so, an interesting thouoght, to be sure, as it puts somewhat of a twist on exactly what TYPE of gold coins might be appropriate for such an approach.
Seems to me - inexperienced though I may still be - that you wouldn 't necessarily do a lot of trading here, and instead, likely focus on coins which have some degree of certainty of appreciation, since they most probably would be held for an extended period. To FUND retirement, however, they must eventually be expected to be sold, whether or not, in fact, that is their fate.
Must be other reasons, styles, etc., but I'm curious if anyone out there has used this approach for tax-qualified retirement planning?
Comment?
I'm given to understand that IRS rules permit me the opportunity of owning gold coins within the scope of my [tax-deductible] retirement plan. If so, an interesting thouoght, to be sure, as it puts somewhat of a twist on exactly what TYPE of gold coins might be appropriate for such an approach.
Seems to me - inexperienced though I may still be - that you wouldn 't necessarily do a lot of trading here, and instead, likely focus on coins which have some degree of certainty of appreciation, since they most probably would be held for an extended period. To FUND retirement, however, they must eventually be expected to be sold, whether or not, in fact, that is their fate.
Must be other reasons, styles, etc., but I'm curious if anyone out there has used this approach for tax-qualified retirement planning?
Comment?
UBERCOINER
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
0
Comments
About how much money are you looking to invest in gold coins?
<< <i>My understanding is that you can only own certain types of bullion coins in an IRA, and you are not allowed to have physical possession of them. >>
Ziggy is correct.
Sugar magnolia blossoms blooming, heads all empty and I don't care ...
<< <i>Only US Mint gold bullion coins are allowed, not slabbed, not graded, just plain 'ol US Mint bullion nothing else. Bob >>
They don't have to be US Mint bullion. They must be legal tender where issued and at least .995 fine. I believe that also makes Canadian Maple Leafs and Australian Nuggets eligible.
The AGE is the exception to the rule; it's only 22 karat but is allowed where as other coins of this fineness are disallowed.
<< <i>
<< <i>Only US Mint gold bullion coins are allowed, not slabbed, not graded, just plain 'ol US Mint bullion nothing else. Bob >>
They don't have to be US Mint bullion. They must be legal tender where issued and at least .995 fine. I believe that also makes Canadian Maple Leafs and Australian Nuggets eligible.
The AGE is the exception to the rule; it's only 22 karat but is allowed where as other coins of this fineness are disallowed. >>
Yep, your right. Just rechecked my facts, sorry. Bob
Corrected link
Gold in your IRA
Sugar magnolia blossoms blooming, heads all empty and I don't care ...
<< <i>I wouldn't use this method to procure gold. You need to have it in your hand or your at the mercy of the holder and rely on them to actually buy the gold. If your going to do it this way you may as well buy an EFT and take your chances IMO. >>
Yes, this is probably true. The part about not being able to take physical control of the metal is likely the showstopper. Gold bulls have a tendency to distrust financial institutions and the monetary/banking system. It is this tendency which makes them want to actually take possession of it; anything less is merely a "promise" which is only as good as the institution which has custody of it. Add to that the hassle and cost of a custodian and complying with the restrictive rules and lack of liquidity, and you might as well invest in GLD and/or GDX on the stock exchange to play on gold in an IRA.
<< <i>
<< <i>Only US Mint gold bullion coins are allowed, not slabbed, not graded, just plain 'ol US Mint bullion nothing else. Bob >>
They don't have to be US Mint bullion. They must be legal tender where issued and at least .995 fine. I believe that also makes Canadian Maple Leafs and Australian Nuggets eligible.
The AGE is the exception to the rule; it's only 22 karat but is allowed where as other coins of this fineness are disallowed. >>
AGE (ounce) has one troy ounce of 24kt in at and some other alloy (copper?) that nets it down to 22kt gold
its total scale weight is over one troy ounce.
i also understand that buffaloes are allowed, but that's it as far as gold in an IRA that i am aware of
roadrunner