How Does Setting Up a Traditional
Precious Metals IRA Work?
Well, let’s be honest. Opening a self-directed gold and silver IRA can be a pain in the rear.
The industry has been mired for decades in a long process, filled with complicated hurdles to leap, and very little flexibility to manage your holdings. In fact, once your metal is in, you don’t have much control over your “self-directed” precious metals IRA at all!
What’s more, you must do all of the heavy lifting yourself. This includes finding and forming relationships with an IRA custodian, a dealer, and a depository--and then getting them all connected. Endless phone calls, mountains of paperwork or online forms, and loads of stress stand between you and your precious metals IRA.
If you’re lucky, you’ll own gold and silver in your IRA within a month. And let’s not even mention the premiums those dealers charge for your metal!
But that’s only the beginning. If you ever want to sell gold and silver because you need the funds, or you want to rebalance your portfolio, you’ve got to go through that whole complicated process again - in reverse.
Other precious metals IRA dealers tell you that you can do all of this in “three easy steps.” What they don’t tell you is that within those “steps,” there is a lot of work that you have to do.
It could take you weeks to do all of this:
So why hasn’t anyone fixed this? With all the new financial technology solutions available, surely there would be one for such a clunky and cumbersome process.
The truth is, it’s easier for most companies if you continue to do all the heavy lifting. Developing a better way to serve you would take too much time, effort, and most importantly--money.
The process may not be simple or convenient for you--but it is for them. And so nothing has changed.
That is, until now.
A Smart, Simple Solution
What if you could set up your self-directed precious metals IRA and begin purchasing gold and silver just a few days after funding your account?
Better yet, what if you had direct access to manage your holdings and rebalance your portfolio without going through four weeks of hassle?
This is about your money and your future--so you should be the one behind the wheel. And what’s more--you deserve a smart, simple way to manage your precious metals IRA.
You shouldn’t have to pay someone who’s going to make you do all the heavy lifting yourself--and then limit the access you have to your assets.
You deserve more freedom than that.
At OWNx, we have put our heads together to create for you the best precious metals experience that anyone has to offer--and we will continue to innovate as more technologies emerge.
The result is a smooth, modern process for you to set up, fund, and manage your precious metals IRA--all from your desktop. You can get started today in just three (truly) easy steps.
If you would like assistance, or have any questions regarding the process, please don’t hesitate to call our IRA specialists at 800-701-3546.
Why Purchase Precious Metals?
In talking with our clients, we have identified a few reasons why investors look to precious metals--particularly gold and silver--as a solid investment choice.
- They see gold and silver as a means of protecting their wealth, due to their historic value as money.
- They believe the price of gold and silver may increase in the future.
- They are seeking to form a protective hedge against economic and geopolitical volatility (i.e. big government, currency crash, inflation).
- They see investing in gold and silver as a good way to diversify their portfolio.
These are all great reasons to invest in precious metals--as well as include them in your retirement plans. And opening a self-directed precious metals IRA is the perfect way to do that.
Precious Metals IRA Rules
So what does it look like to hold gold and silver in a self-directed IRA?
First of all, there are three “types” of precious metals:
Bullion - The value of gold or silver bullion is based solely on the metal content of the coin, bar, or round.
Semi-numismatic - The value of semi-numismatic coins is based both on the content value of the metal, as well as the potential collectible value of the coin.
Numismatic - Numismatic gold and silver coins are valued primarily for their rarity, collectibility, and mint date, rather than for their metal content.
Precious metals IRAs are funded primarily with bullion. Proof American Eagles in gold, silver, or platinum are sometimes included as well. However, numismatic coins are not approved for holding within a self-directed IRA.
The IRS has also set a minimum-fineness level for metal to be held within an IRA:
- Gold: .995 fine (exception for American Gold Eagles)
- Silver: .999 fine
Opening Your OWNx IRA
As we mentioned, establishing an OWNx precious metals IRA is smart and simple. It takes the pressure off of you, giving you freedom, flexibility, and control to manage your assets as you see fit.
OWNx is currently working with three leading IRA custodians in the United States who share our beliefs and wish to reinvent the self-directed IRA process.
The best news is, when you open an OWNx IRA, your dealer (us), custodian, and depository are all synced automatically. No complications for you!
To learn more about our custodian relationships, visit this page or call us at 800-701-3546.
Setup of your IRA is completed through your OWNx Dashboard. If you haven’t already, you can create an OWNx account here to get started.
Next, you’ll have the option to choose one of our platform-integrated custodians to partner with by selecting the “Set Up IRA” button on your Dashboard. When you’ve done this, your IRA account will be created automatically with our storage facility.
All that’s left is to fund your account by contacting your custodian. You’ll have three options for how you’d like to do this:
Your IRA custodian will be happy to help you, and will explain in detail how these options work.
Once your account is funded, you can purchase gold and silver within your IRA account in seconds, directly from your OWNx Dashboard.
Your metal will then be titled and owned by your self-directed IRA, fully insured and stored in a secure facility. To learn more about how your gold and silver are stored with OWNx, click here.
Selling is just as simple. If you feel the need to liquidate funds, or would like to rebalance your portfolio, just log into your IRA account and click on the “Sell Now” option. The dollar amount of metal sold will appear in your IRA cash account, where you can either hold or choose to reinvest it.
Unlike before, you’ll have immediate access to the gold and silver inside your IRA. Twenty-four-seven. Around the clock. No one else makes it this smart or this simple to manage your self-directed IRA.
Precious Metals IRA: Frequently Asked Questions
No. In fact by reducing or eliminating custodian transaction and annual fees, smaller contributions are now practical.
A Few Options for You
GIVE US A CALL TODAY
If you would like more information, or assistance with setting up your IRA account, don’t hesitate to call us at
800-701-3546 and ask for our IRA team.
SEND US AN EMAIL
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VISIT OUR DETAILS PAGE
If you'd like more detail on exactly how to set up and manage your OWNx IRA, you can find that information by visiting this page.
CREATE YOUR ACCOUNT NOW
If you're ready to open an OWNx account now, you can do so by clicking here. Please let us know if you have any questions!