Ask the IRA Expert: Investing in American Eagle Gold Coins with a Self-Directed IRA

By John Bowens0 Comments

Question:

Does Equity Trust offer self-directed IRAs where the account owner is able to physically possess gold American Eagle coins?
 
-David K.
 
Answer:

David,
 
Thank you for your question!  At Equity Trust, you do not need to open a special account if you choose to invest in American Eagle gold coins and other precious metals.  The same account you use to invest in real estate, notes, private equity, or tax liens can also hold American Eagle gold coins.     
 
As for the storage of the actual coins, you are not permitted to personally possess the coins.  This is true for any investment you choose; you cannot personally possess any item in which you invest.  The IRS prohibits the self-dealing and comingling of funds between you personally and your IRA, and requires your investment transactions to be at “arm’s length.”  In other words, the parties involved in the investment must act independently and have no relationship to each other, insuring the parties are not subject to pressure from one another and are dealing from an equal bargaining position.      
 
The first step is to identify a broker/dealer. Next, you need to identify a bonded warehouse or depository that will maintain the investment on your behalf.
 
After that, you can give our Client Service Team a call at 888-382-4727 to confirm any additional paperwork or to set up a precious metals account if you wish to have a separate account for metals.
 
Once all three of these steps are completed you can submit your investment request and we will process your transaction.   
 
Please note that we also strongly recommend that you do a thorough background review of any parties with which you transact business. If you have additional questions, please feel free to contact our Client Service Team at 888-382-4727.
 
John Bowens
National Education Specialist
Equity Trust Company
 
 
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