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What is Truth?
9th April 2009, 10:26
I recently saw this over at APMEX. What's the story, I always thought only silver eagles were IRA acceptable?


(IRA Acceptable) - 10 oz .999 Fine Silver Bars - (APMEX)
As low as $1.29 per ounce over spot!
Stackable and easy to store! These bars are also ISO Certified and able to be placed i... More
Quantity: Add 1 to Cart
Sell Price $140.10
20 - 99 for $138.10 ea
100 or more for $136.10 ea

Item #: 50644
Availability: Available

My Pants Are Cold
9th April 2009, 17:50
I recently saw this over at APMEX. What's the story, I always thought only silver eagles were IRA acceptable?


(IRA Acceptable) - 10 oz .999 Fine Silver Bars - (APMEX)
As low as $1.29 per ounce over spot!
Stackable and easy to store! These bars are also ISO Certified and able to be placed i... More
Quantity: Add 1 to Cart
Sell Price $140.10
20 - 99 for $138.10 ea
100 or more for $136.10 ea

Item #: 50644
Availability: Available

.999 is .999, what difference does it make?

auptag
9th April 2009, 17:52
.999 is .999, what difference does it make?

It matters when it is going into your IRA.

I am working on setting up my account now, but have not finished yet. I thought it was CMX approved silver and ASEs that were IRA accepted. Sure there's someone here w/ more knowledge though.

What is Truth?
9th April 2009, 18:10
It matters when it is going into your IRA.

I am working on setting up my account now, but have not finished yet. I thought it was CMX approved silver and ASEs that were IRA accepted. Sure there's someone here w/ more knowledge though.

Please fill me in on anything you come across with your IRA. If that someone comes along then we can both learn more about it.

LoboNoches
9th April 2009, 18:23
I recently saw this over at APMEX. What's the story, I always thought only silver eagles were IRA acceptable?


(IRA Acceptable) - 10 oz .999 Fine Silver Bars - (APMEX)
As low as $1.29 per ounce over spot!
Stackable and easy to store! These bars are also ISO Certified and able to be placed i... More
Quantity: Add 1 to Cart
Sell Price $140.10
20 - 99 for $138.10 ea
100 or more for $136.10 ea

Item #: 50644
Availability: Available

From what I can gather all Bullion bars that are Comex acceptable can be placed in an IRA and Apmex is ISO Certified also here is a couple of links I came across with more info

goldismoney.info/forums/showthread.php?p=1631864
www.financialsense.com/editorials/morgan/2008/0418.html

Hope this helps

ricm123
9th April 2009, 22:56
I recently saw this over at APMEX. What's the story, I always thought only silver eagles were IRA acceptable?


(IRA Acceptable) - 10 oz .999 Fine Silver Bars - (APMEX)
As low as $1.29 per ounce over spot!
Stackable and easy to store! These bars are also ISO Certified and able to be placed i... More
Quantity: Add 1 to Cart
Sell Price $140.10
20 - 99 for $138.10 ea
100 or more for $136.10 ea

Item #: 50644
Availability: Available

Each bar is stamped on the reverse : "ISO 9001:2000 Certified"
They also say "Made By Academy" on reverse
They are the only bars I've seen with grooved edges (like coins).

This International Standard describes fundamentals of quality management systems, which form the subject of the ISO 9000 family, and defines related terms.

This International Standard is applicable to the following:

1. organizations seeking advantage through the implementation of a quality management system;
2. organizations seeking confidence from their suppliers that their product requirements will be satisfied;
3. users of the products;
4. those concerned with a mutual understanding of the terminology used in quality management (e.g. suppliers, customers, regulators);
5. those internal or external to the organization who assess the quality management system or audit it for conformity with the requirements of ISO 9001 (e.g. auditors, regulators, certification/registration bodies);
6. those internal or external to the organization who give advice or training on the quality management system appropriate to that organization;
7. developers of related standards.


That's all I know.

valerb
9th April 2009, 23:44
I copied the following information from Northwest Territorial Mints web site regarding (Silver) IRA accounts. Other dealers post the same information, only they have their name plugged in. I have an IRA account with GoldStar Trust myself, but my silver did not come from NWTM. GoldStar Trust contact information is included at the bottom.

There is one thing below that I believe is not correct and that is, GoldStar does not hold the exact precious metals you purchased. Unless they changed their agreement, they only guarantee you will receive the exact size and manufacture of the Silver you purchase. That is, if you bought ASE’s then you would receive ASE’s or If you bought NWTM, you would receive NWTM. The same goes for APMEX or any other approved product, you would receive like silver in return.


How does it work?
You will be adding physical precious metals to your retirement portfolio. This is great news for anyone who’s looking to enjoy the peace of mind that comes with tangible ownership of gold, silver, platinum or palladium.
The steps to set-up your precious metals IRA are easy:

Set up a precious metals IRA account with a custodian: Northwest Territorial Mint deals with GoldStar Trust Company (http://www.goldstartrust.com/IRA%20Programs.htm), a distinguished precious metals IRA specialist.
Name Northwest Territorial Mint as the bullion dealer for the new account and then fund the account via a direct contribution or roll-over funds from other existing accounts.
After receiving notification from GoldStar Trust Co. that the account is active, contact Northwest Territorial Mint and lock in a price for the bullion product you want.
Northwest Territorial Mint then ships the physical metal to GoldStar Trust Co. for receipt into their depository.
GoldStar Trust Co. pays Northwest Territorial Mint with funds from your account and then credits your account with your newly purchased precious metal.
GoldStar Trust Co. holds the exact precious metals you purchased at an internationally recognized precious metals depository. What precious metals can I invest?
Previously, only gold and silver American Eagle coins were allowed into a precious metals IRA. However, IRA regulations changed in 1997 and a variety of bullion that meets the minimum purity of 99.5% are now approved for inclusion into a precious metals IRA account.

Silver
Investors looking for eligible silver bullion at low premiums can choose 99.9%-pure Northwest Territorial Mint silver (http://bullion.nwtmint.com/silver_nwtmintbullion.php) and Pan American Silver Corp. silver (http://bullion.nwtmint.com/silver_panam.php). We also offer a variety of eligible, at least 99.5%-pure, silver bullion including: silver American Eagles (http://bullion.nwtmint.com/silver_americaneagle.php), silver Maple Leafs (http://bullion.nwtmint.com/silver_mapleleaf.php) as well as 100-ounce silver bars (http://bullion.nwtmint.com/silver_bars_100.php). Pre-1965 U.S. 90% silver coins are not eligible.

Do I receive my bullion when I choose to take my disbursements?
Absolutely. Whenever you choose to take disbursements from your IRA account, you may either receive your physical bullion or convert your precious metals to cash through your bullion dealer. This flexibility allows you to take advantage of market conditions before you sell.

To begin safeguarding your retirement, contact Northwest Territorial Mint toll-free at 800-344-6468 or email at bullioninfo@nwtmint.com (bullioninfo@nwtmint.com). Contact GoldStar Trust Company at 800-486-6888 or email at info@goldstartrust.com (info@goldstartrust.com).

ricm123
10th April 2009, 22:55
I copied the following information from Northwest Territorial Mints web site regarding (Silver) IRA accounts. Other dealers post the same information, only they have their name plugged in. I have an IRA account with GoldStar Trust myself, but my silver did not come from NWTM. GoldStar Trust contact information is included at the bottom.

There is one thing below that I believe is not correct and that is, GoldStar does not hold the exact precious metals you purchased. Unless they changed their agreement, they only guarantee you will receive the exact size and manufacture of the Silver you purchase. That is, if you bought ASE’s then you would receive ASE’s or If you bought NWTM, you would receive NWTM. The same goes for APMEX or any other approved product, you would receive like silver in return.


How does it work?
You will be adding physical precious metals to your retirement portfolio. This is great news for anyone who’s looking to enjoy the peace of mind that comes with tangible ownership of gold, silver, platinum or palladium.
The steps to set-up your precious metals IRA are easy:

Set up a precious metals IRA account with a custodian: Northwest Territorial Mint deals with GoldStar Trust Company (http://www.goldstartrust.com/IRA%20Programs.htm), a distinguished precious metals IRA specialist.
Name Northwest Territorial Mint as the bullion dealer for the new account and then fund the account via a direct contribution or roll-over funds from other existing accounts.
After receiving notification from GoldStar Trust Co. that the account is active, contact Northwest Territorial Mint and lock in a price for the bullion product you want.
Northwest Territorial Mint then ships the physical metal to GoldStar Trust Co. for receipt into their depository.
GoldStar Trust Co. pays Northwest Territorial Mint with funds from your account and then credits your account with your newly purchased precious metal.
GoldStar Trust Co. holds the exact precious metals you purchased at an internationally recognized precious metals depository. What precious metals can I invest?
Previously, only gold and silver American Eagle coins were allowed into a precious metals IRA. However, IRA regulations changed in 1997 and a variety of bullion that meets the minimum purity of 99.5% are now approved for inclusion into a precious metals IRA account.

Silver
Investors looking for eligible silver bullion at low premiums can choose 99.9%-pure Northwest Territorial Mint silver (http://bullion.nwtmint.com/silver_nwtmintbullion.php) and Pan American Silver Corp. silver (http://bullion.nwtmint.com/silver_panam.php). We also offer a variety of eligible, at least 99.5%-pure, silver bullion including: silver American Eagles (http://bullion.nwtmint.com/silver_americaneagle.php), silver Maple Leafs (http://bullion.nwtmint.com/silver_mapleleaf.php) as well as 100-ounce silver bars (http://bullion.nwtmint.com/silver_bars_100.php). Pre-1965 U.S. 90% silver coins are not eligible.

Do I receive my bullion when I choose to take my disbursements?
Absolutely. Whenever you choose to take disbursements from your IRA account, you may either receive your physical bullion or convert your precious metals to cash through your bullion dealer. This flexibility allows you to take advantage of market conditions before you sell.

To begin safeguarding your retirement, contact Northwest Territorial Mint toll-free at 800-344-6468 or email at bullioninfo@nwtmint.com (bullioninfo@nwtmint.com). Contact GoldStar Trust Company at 800-486-6888 or email at info@goldstartrust.com (info@goldstartrust.com).

Excellent Post!

I wonder if GoldStar Trust Co. thinks NWTM is going bankrupt?
Seems like they'd only do business with mints they check out thoroughly?

Also, would someone at age 40 (or younger) who buys silver for an IRA for 20 years (or more) be upset if the delivery was slow as long as the contribution was allowed for the proper tax year? Since there's a limit to the annual contribution amount, wouldn't you want to have as much silver as possible invested?

valerb
10th April 2009, 23:35
Excellent Post!

I wonder if GoldStar Trust Co. thinks NWTM is going bankrupt?
Seems like they'd only do business with mints they check out thoroughly?



They don't have to worry about NWTM or any other dealer going bankrupt. The dealer has to ship the silver before they get paid. Once it is received at the bank vault, they send the information to GoldStar. If it matches your order, they then pay NWTM or your dealer. That is why many dealers will not handle IRA accounts. The dealer or mint has their money floating rather than yours.

If your interested in doing an IRA account, check with your favorite dealer or checkout their web site. If they work with IRA's, it will be listed on their site. Some rather small dealers will work with IRA's, while some very large ones will not.

PSUDave
12th April 2009, 16:14
Why would anyone put physical PMs in an IRA? :confused: Make your own IRA and take delivery.

ricm123
13th April 2009, 00:17
Why would anyone put physical PMs in an IRA? :confused: Make your own IRA and take delivery.

You do not get to deduct the IRA contribution if you make your own.

The deductible contribution is the incentive to open & utilize IRA's. Otherwise, and unfortunately, fewer individuals would save for retirement. Too many would rely on S.S. and wake up too late to realize that will not be nearly enough to live on.
The government knew this when they created IRA's and the tax credits.

The message basically is "We want you to save. We know you're too incompetent to do it on your own, so we're going to give you a big fat tax reward to encourage you to open an IRA. We know S.S. is failing and will be in worse shape as time goes on."

Also, if you put anything in an IRA and it gains value, there are no capital gains tax when you sell it (or withdraw it).

There's nothing wrong with maxing out your 401-K or IRA and saving on your own too! In fact, I highly recommend it!

PSUDave
13th April 2009, 18:54
You do not get to deduct the IRA contribution if you make your own.

The deductible contribution is the incentive to open & utilize IRA's. Otherwise, and unfortunately, fewer individuals would save for retirement. Too many would rely on S.S. and wake up too late to realize that will not be nearly enough to live on.
The government knew this when they created IRA's and the tax credits.

The message basically is "We want you to save. We know you're too incompetent to do it on your own, so we're going to give you a big fat tax reward to encourage you to open an IRA. We know S.S. is failing and will be in worse shape as time goes on."

Also, if you put anything in an IRA and it gains value, there are no capital gains tax when you sell it (or withdraw it).

There's nothing wrong with maxing out your 401-K or IRA and saving on your own too! In fact, I highly recommend it!

IRA - tax deduction, let someone else hold your PM.
Owning physical - no tax deduction, I hold the metal.
I'll take plan B

valerb
14th April 2009, 00:09
IRA - tax deduction, let someone else hold your PM.
Owning physical - no tax deduction, I hold the metal.
I'll take plan B

IRA's are a great way to re-invest a rollover 401K. No penalties or early withdrawal tax obligations.

A ROTH IRA is a great way to invest some of your money if you have a lot to invest in Silver. You do not get the benefits of a tax deduction up front, but you do get to avoid any taxes on the profits. That can be much greater than any tax savings on a regular IRA. Assuming you want to sell large amounts of Silver, it will be rather difficult to sell without it being recorded. If Silver ever hits one of those mythical numbers, a ROTH IRA that is tax free, will be a welcome investment. Just remember that there is the possibility of your silver investment ending up in someone else's hands, so only put some of your Silver money in an IRA. It's the same as not putting all your money in one stock. IRA's are just another way of being diversified, with potentially huge tax savings.

CrazyFoool
15th April 2009, 05:10
IRA's are a great way to re-invest a rollover 401K. No penalties or early withdrawal tax obligations.

A ROTH IRA is a great way to invest some of your money if you have a lot to invest in Silver. You do not get the benefits of a tax deduction up front, but you do get to avoid any taxes on the profits. That can be much greater than any tax savings on a regular IRA. Assuming you want to sell large amounts of Silver, it will be rather difficult to sell without it being recorded. If Silver ever hits one of those mythical numbers, a ROTH IRA that is tax free, will be a welcome investment. Just remember that there is the possibility of your silver investment ending up in someone else's hands, so only put some of your Silver money in an IRA. It's the same as not putting all your money in one stock. IRA's are just another way of being diversified, with potentially huge tax savings.

so if i open an ira from goldstar trust or wahtever, i can only buy and contribute PM from NWTS?

Argyria
15th April 2009, 05:56
"I wonder if GoldStar Trust Co. thinks NWTM is going bankrupt?
Seems like they'd only do business with mints they check out thoroughly?"

I don't think NWTM is going bankrupt. Usually, when a company has massive backorders to fill, its a sign of good business.

valerb
15th April 2009, 11:52
so if i open an ira from goldstar trust or wahtever, i can only buy and contribute PM from NWTS?

No, that was covered above, you can buy from any coin shop or online dealer that works with IRA accounts. You can also elect to open an IRA account with the ETF SLV. Some controversy with an ETF, but there is negligible premiums and the same when you sell your silver. You do not have to try and find a dealer and can sell it from you computer with the push of a button.

NWTM was included in that example, because they provided all of the steps and I also stated that other dealers provided the same information, but just plugged their name in place of NWTM.

NWTM does happen to have to cheapest generic Silver and works with IRA accounts. Tulving which may very well be the second best prices, but only sells in volume, does not deal with IRA accounts.

It was also brought up that you do not have to worry about sending your money and never receiving your silver. In IRA accounts, the dealer must ship the Silver before he gets paid. So there is no worrying about default or bankruptcy.