More Metal, Less Hype, Zero Premiums.
What is a Precious Metals IRA?
A Precious Metals IRA (Individual Retirement Account) is a specialized type of IRA that allows investors to hold precious metals such as gold, silver, and platinum within the account. This type of IRA is governed by the same rules and regulations as traditional IRAs, but it provides investors with an alternative investment option beyond traditional stocks, bonds, and mutual funds.
Investors interested in diversifying their retirement portfolios and including tangible assets like precious metals often consider Precious Metals IRAs as part of their overall investment strategy.
Why an OWNx IRA?
Our quest to reinvent precious metals IRAs began when we identified the pain people experience when trying to create and invest in a Precious Metals IRA. Most companies require hours of phone calls, emails, and cumbersome identification processes simply to set up your account. Many limit purchases to high-premium gold and silver coins and small bars. Once you have your holdings, there is no way to manage or liquidate them.
We went to work with one question in mind. How can we use the OWNx technology platform to solve these problems for our clients? The answer was to partner with a custodian who was also interested in providing their clients with a better experience.
Since 2008, OWNx has been building and refining a platform that gives you smart and simple access to the most cost-effective way to hold physical precious metals in your IRA. All trades occur “at-cost,” meaning you will maximize the number of ounces in your account for the amount you invest.
Together we leverage state-of-the-art technology for you:
Getting Started with an OWNx IRA
- Create an account with OWNx.
- Fill in the IRA Application.
- Pay the annual service fee of $195.
- Once approved, you can initiate a transfer, rollover, or contribution.
- Once funded, you can buy and sell precious metals through your OWNx IRA.
Benefits of Investing Through a Precious Metals IRA
Types of Precious Metal IRAs
Gold IRA
A Gold IRA, managed by top gold IRA companies, is a subset of the Precious Metals IRA, focusing exclusively on gold as its primary asset. Gold IRAs, often set up through a gold IRA custodian, have gained immense popularity due to the intrinsic value and historical significance of gold. Gold IRA investing involves selecting gold coins, such as the Canadian Maple Leaf coins and Gold American Eagles, which are among the popular choices for inclusion in a gold IRA account. These gold bars and coins, offered by reputable gold IRA companies, are not just mere investments; they represent a tangible form of wealth, offering a hedge against economic uncertainty.
Silver IRA
While Gold IRA companies and best gold IRA options are widely recognized, Silver IRAs also hold significant value. A Silver IRA, as the name suggests, is dedicated to investments in silver, including silver coins and bars. Silver, much like gold, serves as a buffer against volatile stock market trends and offers diversification benefits that paper assets can't match.
Precious Metals IRA vs Conventional IRA
While both Precious Metals IRAs and Conventional IRAs offer tax advantages and are designed to help individuals grow their retirement savings, they differ fundamentally in the assets they hold. A Conventional IRA primarily consists of paper assets such as stocks, bonds, and mutual funds. It's a reflection of the stock market's ebb and flow, making it susceptible to market volatility.
On the other hand, a Precious Metals IRA is a type of self-directed IRA that allows investors to hold physical precious metals like gold, silver and platinum. This tangible form of wealth offers a hedge against economic uncertainties, inflation, and currency devaluation. Moreover, the intrinsic value of precious metals often moves independently of stock market trends, providing a layer of diversification not found in a Conventional IRA.
In essence, while a Conventional IRA offers a more conventional approach to retirement savings, a Precious Metals IRA provides an alternative investment strategy, emphasizing tangible assets and long-term stability.
|
Criteria |
Precious Metals IRA |
Conventional IRA |
|
Type of Assets |
Physical precious metals (gold, silver, platinum) |
Stocks, bonds, mutual funds |
|
Protection Against |
Economic uncertainties, inflation, currency devaluation |
Market performance |
|
Asset Tangibility |
Tangible assets stored in IRS-approved depositories |
Electronic/paper assets |
|
Diversification |
Independent of stock market trends |
Correlated with stock market trends |
|
Initial Investment Cost |
Potentially higher due to physical metal prices |
Typically lower |
|
Storage Fees |
Yes, for storing precious metals in approved depositories |
No |
|
Tax Advantages |
Yes, based on IRS guidelines for precious metals |
Yes, based on IRS guidelines |
Typical IRA Fees
| IRA annual maintenance fee. Billed for each IRA |
$195 |
|---|---|
| Storage Fees | 0.5% per year, assessed monthly as 0.0416% |
Fees That Are Easy to Avoid
| Paper Statement Fee Avoid by setting up a myEQUITY portal account |
$60 per year |
|---|---|
| Paper Bill Pay or Distribution Avoid by submitting through myEQUITY portal |
$15 each |
| Wire Transfer Fee Select check processing to avoid |
$30 each |
| Cashier's Check, Certified Mail (Select regular check to avoid) |
$30 each |
Other Fees (Rare Occasions)
| Overnight Mail | $50 each |
|---|---|
| Express Transfer Processing (Reviewed same day) | $75 each |
| Expedited Process Service | $75 each |
| Special Document Processing | $10 each |
| Miscellaneous Activity Request | $75 / hour |
| Special Handling Fee | $25 each |
| Foreign Currency Fee | $100 annually |
| Stop Payment, Return Check Fee | $30 each |
| In-Kind Distribution or Transfer Out | $50 per transaction |
| Account termination fee | $250 |