FAQs

Gold, Silver, Premium Coins, IRA's

FAQs2017-04-17T18:29:28+00:00
Do I have to pay shipping on my IRA purchase?2017-04-04T22:10:57+00:00

No! Encore Gold offers free shipping. Furthermore, all packages we ship include insurance and tracking at no additional cost. You can track your package from your door to the depository and everywhere between. Customers can rest easy knowing their metals are fully insured in the rare occurrence of loss or damage during shipping.

Do you charge commissions as the dealer for IRA precious metals purchases?2017-03-27T21:13:39+00:00

No. Our only part of the IRA contribution process is selling the actual metal to the custodian, which we do at our normal rates with no commissions or surcharges added.

Do you have a minimum IRA purchase?2017-04-04T22:12:29+00:00

We have a $100 minimum that applies to all orders. That being said, most IRA purchases will exceed this amount.

What are typical custodian and storage fees?2017-03-27T21:12:12+00:00

Fees vary depending on the size of your account and the metal holdings in your depository. Please contact either your IRA custodian or your depository of choice to learn more about fee structures.

Why would I invest in a self-directed precious metals IRA instead of investing in an ETF like GLD?2017-04-04T22:13:57+00:00

We do not provide investment advice, but many of our clients prefer self-directed precious metals IRAs because they are backed by real, physical, segregated metal, whereas an ETF like GLD which is only backed by a pool of gold holdings and positions.

Will I ever be able to take physical delivery of my precious metal?2017-04-04T22:58:13+00:00

You can liquidate or take possession of your metals at any time, but this is considered a distribution, and there may be tax implications involved. We recommend speaking with a tax professional before making this decision.

If I invest with an IRA, do I still receive the physical precious metals?2017-04-04T22:50:44+00:00

No. As part of the IRS’ rules regarding precious metals IRAs, Encore Gold MUST ship the products to an approved IRA depository, which then holds the metals until the time you are ready to liquidate the position.

Are there any IRA contribution limits?2017-04-04T22:17:29+00:00

Yes, you may be subject to IRA contribution limits depending on your type of IRA and income levels. Please consult with your IRA custodian to learn more about your potential contribution limits.

What tax benefits will I see by investing in precious metals through an IRA?2017-04-04T22:52:17+00:00

Investors can expect to see significant tax savings by investing in precious metals using an IRA vs. investing outside an IRA. Please see the section above to learn about the tax benefits of using a traditional or ROTH IRA to invest in physical precious metals.

How do I know my metals are in the depository?2017-04-04T22:30:37+00:00

All depositories, including First State Depository, provide full accounting and reporting services to insure your metals are safe and counted. All precious metals are separated from other customers’ metals at no additional cost, and are insured for their full amount.

Are my metals insured at the depository?2017-03-27T21:08:59+00:00

Once your precious metals arrive at the depository they will be fully insured. As an added protection, we also insure each mailing we ship out in the very rare occurrence that a package becomes lost or damaged.

How long after you ship my metals will they be in my account?2017-04-04T22:31:32+00:00

Once your order is placed and your funds have cleared our bank account, the metals ship from our facility within 1-5 business days. Depending on the carrier and the mail service, it can take an additional 1-5 business days to arrive at the depository.

Am I allowed to have more than one IRA?2017-03-27T21:08:18+00:00

Yes, an individual is allowed to have more than one IRA account. However, your total yearly contribution will remain at the same maximum no matter how many IRAs you have.

How long do I have to wait to deposit 401k rollover funds into my new precious metals IRA?2017-04-04T22:33:08+00:00

In the case of a 401k rollover, your funds are generally paid directly to you. Once you have the funds in your possession you have 60 days to transfer them into your new self-directed IRA account. If you do not do so within this 60-day period, you may be required to pay taxes. In order to fully understand these rules, we recommend talking to a tax advisor before transferring any IRA funds.

How long does it take to rollover an existing IRA/401k?2017-03-27T21:07:22+00:00

This will vary based on which custodian you choose. If you are using New Direction IRA it can take 1-2 business days to open your account once they receive your application. After your account is set up you will then have to fund it which can take up to several weeks.

Can I rollover or transfer an existing IRA to a self-directed precious metals IRA?2017-04-04T22:34:18+00:00

Yes. Your self-directed IRA custodian can help you arrange to rollover or transfer your existing IRA into a precious metals IRA. We are not able to help set up the actual IRA, but we can recommend custodians to consult.

What precious metal products are NOT approved for IRAs?2017-04-04T22:35:12+00:00

To qualify as an IRA-approved product, precious metals must meet minimum fineness levels. The American Gold Eagle is the only exception to the following numbers. Minimum gold fineness: .995. Minimum silver fineness: .999. Minimum platinum fineness: .9995. Minimum palladium fineness: .9995. Any products falling outside of these ranges, excluding American Gold Eagles, are not approved for IRA contributions. Examples of non-approved precious metals products include pre-1933 gold, gold Krugerrands, and 90% US silver coins.

How should I store my precious metal products?2017-04-04T23:49:01+00:00

If you plan to take physical delivery, you can either store them at home in a safe or you can store them at a safety deposit box at your bank. The other option is to use a privately owned third party insured depository. We can help you with that decision.

What type of precious metals should I buy?2017-04-04T22:40:39+00:00

This depends on the amount of money you are going to move into precious metals and what your plan is for taking delivery. We can discuss this in greater detail together.

How do I know when to sell my precious metals?2017-04-04T23:50:17+00:00

Market conditions inform us when to sell and when to save our precious metals. For example, the Dow to Gold ratio provides some guidance with making the decision.

I have an aging family member who owns precious metals. Do you have any advice on what to do?2017-04-04T23:50:42+00:00

There may be no need to do anything unless you feel they are at risk and vulnerable. There are several steps that can be taken to ensure that a vulnerable person can be protected from predatory sales tactics.

How should I handle precious metal inheritances?2017-04-04T23:51:09+00:00

There are often multiple family members involved in settling the estate, and each estate has its own special situation. Consider your family’s advice, but if you still have questions, are happy to advise and assist you once we learn the details of your situation. Click here or call us at 1-877-563-8736 to get started.

Why would my stockbroker advise against investing in precious metals?2017-04-04T23:54:22+00:00

Many people in the financial markets simply do not understand precious metals or the role they play. There is some natural rivalry between stocks/bonds and other investment forms. Also, some professionals are prohibited contractually from discussing precious metals. We can assess the larger economic picture with you.

Can you help me if I get scammed or ripped off?2017-04-04T23:54:35+00:00

It is very difficult to determine if you have been taken advantage of or not. Sometimes naturally shifting market conditions can be misinterpreted between sellers and buyers. The key is to have solid facts of your current situation so you may decide what best to do. We can help you with this.

What do you think of liquidating previous precious metal purchases?2017-04-04T23:54:50+00:00

It depends on your current needs and how those holdings are currently valued. It may prove beneficial not to liquidate if you don’t have to. But if there are pressing financial needs forcing you to liquidate, we can decide how best to sell for maximize proceeds and tax benefits. It could be wise to do sell incrementally instead of liquidating all at once. We can plan the frequency and duration of incremental liquidation with more information.

I’m new to precious metals. Are they right for me?2017-04-04T23:55:00+00:00

Precious metals aren’t for everyone. Each individual has a unique situation that will play a role in determining if precious metals make sense to own. It is worth exploring together. Click here or call us at 1-877-563-8736.

I’m thinking about rolling my IRA/401K over to a precious metals IRA. Can you help me?2017-04-04T23:50:29+00:00

We have helped many customers with making this decision. There are a few factors involved in making an informed decision which we will be happy to help you with. Simply contact us at a time of your convenience and we can work towards a decision together.

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