Precious Metals FAQs
What is a ‘gold IRA’ or ‘precious metals IRA’?
“Gold IRA” and “precious metals IRA” are simply descriptions of self-directed retirement plans that hold physical gold, silver, platinum, and/or palladium. From a tax advantage standpoint, the IRS does not distinguish precious metals IRAs from accounts that hold other asset types.
Which accounts are eligible?
Any account offered at NDTCO can invest in precious metals. You can learn more about each account type here.
Which precious metals are allowed in IRAs?
Self-directed IRAs can hold gold, silver, platinum, and palladium. Common items like American Eagle coins, Canadian Maple Leaf coins, and bullion bars in gram or ounce denominations are permissible in retirement plans provided they meet minimum purity requirements.
What fees are needed to open an account?
A one-time account opening fee is due at the time the account is established. You will then work directly with the dealer to determine the precious metal purchase and cost. You can view our full fee schedule here.
Do I have to use a depository? I would rather keep my precious metals at home.
Unfortunately, the IRS requires that all self-directed precious metal investments be stored in a third-party depository for safe-keeping.
At the time you are eligible to take a distribution, you are able to choose whether you would like to take an in-kind distribution (taking possession of your physical precious metals) or cash distribution. For further information on required distribution, please view this link Required Minimum Distributions.
Are you owned or affiliated with any specific precious metals dealers or sponsors?
No! New Direction Trust Company is an independent self-directed custodian. We do not sponsor or endorse any specific investment or investment sponsor.
Is there a discount for using a dealer or sponsor who referred me to you?
As a non-fiduciary custodian, NDTCO is unable to recommend, endorse, or promote a dealer or asset provider. NDTCO does not offer any discounts for using a dealer or sponsor who referred them to NDTCO.
Why have the prices for my precious metals changed?
Precious metals’ prices fluctuate based upon market values and may not remain at the constant rate from your original invoice. Please contact your precious metals dealer for additional information and current market prices.
Some precious metals dealers or brokers may include a commission or markup in their sale price of precious metals. For additional resources on spot prices for precious metals values, bullionvalues.org may provide you some insight.
How do I sell or exchange metals?
To liquidate precious metals, we will need you to complete our online Precious Metals buy, sell, exchange form. Consult with a precious metals source of your choice to negotiate the sale price and have the dealer send us a copy of the purchase order.
The fees associated with a Precious Metals sale include a transaction fee and shipping cost to send the metals from the depository to the dealer purchasing them. Once the sale request and purchase order are received, NDTCO will work with your depository to determine the shipping fees.