Precious Metals

Mountain West IRA – Precious Metals

Invest Your Mountain West IRA in Gold and Precious Metals

Financial professionals across the globe agree that the key to success is asset diversification. To reduce the risks of volatility, they suggest the purchase of precious metals to diversify your portfolio among different asset classes.

With a Mountain West IRA self-directed IRA you can invest in many different types of precious metals including gold, silver, platinum, and palladium bullion and U.S. Government gold and silver coins as well as coins from many other nations.

As your source for self-directed IRA administration, Mountain West IRA is equipped to handle all the unique requirements involved with holding precious metals in your retirement plan, such as arranging for storage in a depository, valuations for IRS reporting, and account administration.

Do you have knowledge and experience investing in precious metals? If so, capitalize on your expertise to generate retirement wealth tax-deferred or tax-free. Use your Mountain West self-directed IRA to drive your own level of success by controlling your own investment options and classes.

Gold, Silver, and Precious Metals Self-Directed IRA – Frequently Asked Questions:

Q. Does Mountain West IRA choose the precious metals dealer?
No, as the IRA holder, you get to choose the precious metals dealer and the type of product you want. Mountain West IRA does not sell or promote any products or vendors.

Q. Who chooses the gold depository?
Unlike most self-directed IRA administrators, Mountain West IRA allows you as the IRA holder to choose any precious metals storage facility. The choice is up to you.

Q. What types of metals are allowed in an IRA?
Gold bars:
They must have a purity of 24 karat (0.995+ fineness). These bars come in 1 oz., 10 oz., 1 kilo (32.15 oz.), 100 oz., and 400 oz. sizes.
Gold coins: They must have a purity of 24 karat (0.9999 fineness), with the exception of the 22 karat U.S. Gold Eagle.
Silver coins & bars: They must have a 0.999+ fineness, like the 1 oz. U.S. Silver Eagle. You can purchase 100 oz. silver bars and also 1000 oz. silver bars. Pre-1965 bags of US silver coins (dimes, quarters, half dollars, and silver dollars) are not allowed in an IRA because their alloy contains only 90% silver.
Platinum/palladium bars & coins: They must have a 0.9995+ fineness, however, private companies who manufacture platinum and palladium bars ranging in size from 1 oz. to 100 oz. with well-established hallmarks, are acceptable as well. Both the U.S. and Canadian mints make 1 oz. platinum coins meeting these standards. Other countries, such as Great Britain and Australia, have 1 oz. platinum coins, which are not as well-known but are also acceptable.

Q. What are the different forms in which precious metals can be held in a Mountain West IRA?
Precious metals can be held in your IRA in the form of physical (allocated or unallocated) gold and silver bullion, coins from specified countries, and certificates.

Q. What is the difference between allocated and unallocated storage?
Allocated or segregated storage only applies to gold bars 10 oz. or greater and it ensures that the bars are kept separate from the other metals in the depository’s vault. Bars are identified by size, refinery, and serial number (for example: 100 oz. PAMP Swiss gold bar SN#35427681). When the metal is distributed from the depository, it will be the exact same bar that was originally deposited.

With unallocated or unsegregated storage, the metals are comingled in a depository metal account. Bars are identified by size/weight and refinery (for example, a 100 oz. JM silver bar).

When the metal is distributed from the depository, it will be the same size bar, from the same refiner as the bar that was originally deposited. Coins are identified by type and year minted (for example, a 1992 American Silver Eagle). When the coin is distributed from the depository, it will be the same year coin as the coin that was originally deposited.

To purchase Precious Metals or Foreign Currency in your IRA, please complete and return the following at least 2 business days prior to funding the investment:

  1. Complete and return a Purchase Kit – Watch Instructional Video HERE
  1. Provide us with a purchase contract/agreement from your precious metals dealer that clearly specifies your IRA as the buyer. – Watch Video HERE

a. Vesting must read: Mountain West IRA, Inc. FBO (Your Name) IRA.
b. Any buyer address information must be our office address:  10096 W. Fairview Ave., Ste. 160 Boise, ID 83704.
c. You must sign this document as “Read and Approved by: (Your Name)”

  1. If sending funds via wire to the dealer, please fill out the Outgoing Wire Instructions Form, if the dealer cannot email instructions.– Watch Instructional Video HERE
  1. Provide MWIRA with the appropriate documentation necessary to establish a storage account with a third party depository vault facility of your choosing. – Watch Instructional Video HERE

a. Your IRA must be listed as the account holder.  All aforementioned vesting and address information applies.
b. If the selected depository requires an owner signature, please sign the custody agreement as Read and Approved. An agent for Mountain West IRA will sign on behalf of the IRA.

  1. We must receive all complete and correct documentation at least 2 business days prior to the day you wish funds to be sent.

You are required to keep one (1) year of depository fees in your IRA upon purchase of an asset.

If you are funding your Mountain West IRA fees from your account keep in mind we will require $500.00 in your account at all times. You can choose to have a credit card on file with MWIRA for our administration fees as they arise or pay for the transaction fees and a year of recordkeeping fees in advance, in this case you are not required to have $500 in your IRA.  If you pay your fees by check, you will need to pay for the transaction fees and a year of recordkeeping fees in advance.

 

Forms you’ll need to purchase Precious Metals or Foreign Currency with your Self-Directed IRA

Self-Directed Precious Metals/Foreign Currency IRA Application

Precious Metals Purchase Kit

Acceptable Precious Metals

Depository Information

Precious Metals Only

CNT Depository

CNT Depository Election Form

Money Metals Exchange

Money Metals Exchange Election Form

Money Metals Depository Storage Agreement

Precious Metals and Foreign Currency

Idaho Armored Vaults/Gold Silver Vault

Idaho Armored Vaults Individual Safekeeping Account Agreement

First State Depository

First State Depository Account Establishment Form

First State Depository Holdings Election Form

Mountain West IRA does not offer investment, tax, financial, or legal advice to clients. Individuals who believe they need advice should consult with the appropriate professional(s) licensed in that area.