Investing in a Precious Metals IRA: A Q&A with APMEX Director of VIP Services Peter LaTona

On March 19th, 2013 we hosted a Q&A session on Facebook and Twitter with Pete LaTona, Director of VIP Services. Pete answered several questions about investing in a Precious Metals IRA. Below is a transcript. Please like us on Facebook page and follow our Twitter profile to participate in upcoming chats and let us know if you have any questions.

Q: Can you keep the metal in your possession?
A: This is one of most commonly asked questions about Precious Metals IRAs.The Precious Metals are stored in a depository. If you were to take possession of the metals it would be considered a withdrawal and you would owe taxes at that time. This works just like any IRA. When you take a withdrawal, then it is time to pay taxes.

Q: Do you foresee an increase in the price of Gold/Silver/Platinum for the far future?
A:
Everyone wants to know if prices are going up, but no one really knows for sure. If a Precious Metals dealer shouts from the rooftops that prices are going up, then consider their motive. The man who runs the world’s largest hedge fund, Ray Dalio, says he does not know what prices will do, yet he believes in a 5% Gold allocation because of its value as a currency. Central banks became net buyers of Gold in 2010, and they just keep buying more. Gold has become a currency. Gold belongs in everyone’s portfolio who wants protection from all of the financial risks we face in today’s environment. How much (4-20%) depends on how much risk you think is out there.

Q: Why do you think the government will keep their promises regarding IRAs? See Cyprus, for example. IRAs are the major source of wealth for Americans. The tax deal is so good, that I can’t help but to think there will be some level of confiscation.
A:
I do not believe the government will change IRA rules because there are no more pensions in today’s world. The government has a vested interest in people being able to take care of themselves, at least to some extent. I do not believe confiscation will occur ever, but that is my opinion. The cost to send the Army door to door for confiscation would be much more than the amount of Gold they would find.

Q: Am I able to open an IRA through APMEX and deposit funds whenever? Or is there a defined plan?
A: There are defined plans. First, you choose your IRA custodian and then fund your account. Once the money is in your account, you call APMEX and we help you with your purchase.

Q: In your opinion, what is the number one reason to own physical Gold and Silver?
A:
The primary reason from a financial planner point of view is wealth protection through portfolio diversification. There are others, but that is probably number one by far. The six main categories of investors we find at APMEX are those who want to protect their money; those who want to make money; those who are skeptical of big business and governments; those who fear a major currency collapse and metals would be needed to buy bread; people who like to collect beautiful coins from around the world; new investors who just are waiting to make their first purchase.

Q: With the credit crises in Europe spreading and the slow uptick in the stock market here, how do you foresee the price of metals increasing in the next ten years?
A:
You are pointing out that the global economic concerns have only been given Band-Aids as politicians lack the will to make hard decisions. Most people would expect Gold prices to rise in such an environment. Central banks continue to trade paper assets for Gold. That alone should tell us something. Countries across the globe are printing money, and it is hard not to imagine inflation setting in sooner or later. Let’s just hope we never see hyperinflation. I met a man from Argentina several years ago who told me at one time during their hyperinflation when he woke up in the morning, it was as if someone had taken another zero out of his bank account.

Q: Do you think Silver will hit $50 an ounce sooner rather than later?
A:
Define sooner or later. I am not trying to avoid an answer, but timelines need to be clear. I believe the same economic uncertainty that could drive Gold prices up will take Silver along with it. I will tell you we have many sophisticated clients who would say sooner. We also need to keep in mind Silver industrial uses. It is a key component of solar panels. Silver has hit $50 before, so it would not be a shock to hit it again.

Q: Can the depository be at our home bank?
A:
It would depend on whether your bank is approved to handle IRA deposits. Most banks are not set up for this type of depository service.

Q: Would it be better to open a Precious Metals IRA or keep them on hand to help my children when they are older?
A:
If you have the funds outside of an IRA to buy what you want, I would use those funds outside of your IRA. Sometimes, most of the money you might have to invest is in an IRA.

Q: I collect Silver and store it myself. Is there a minimum amount required to take all of my Silver and turn it into an IRA?
A: If you have Silver in your possession already, you cannot create an IRA with the actual physical metal. An IRA is funded with cash, and then you buy the metals.

Q: I remember when 1 oz of Silver only cost me 5 dollars… how times have changed. Precious Metals will hit the moon soon…
A:
Silver seemed like it traded at $20 or below for forever. It has been trading in a range for some time the past year. Let’s see if a break out occurs. Also remember that Silver has become a key component in solar panels. If that industry really takes off…?

Q: Let’s say I requested to cash out today, when would the metals arrive in my hands?
A: Processing will vary by depository; most people cash out, but you can also take physical possession. My best guess is around 2 weeks, but you’ll have to check with your specific IRA custodian.

Q: How would you take delivery of the physical metals if you have them in a Precious Metals IRA?
A: Your depository will ship your metals to you, or you can choose to cash out your account.

Investing in a Precious Metals IRA: A Q&A with APMEX Director of VIP Services Peter LaTona

Silver Canadian Maple Leafs- Only $2.29 Per Coin Over Spot

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Take advantage of a remarkable opportunity to buy .9999 fine 2011 Canadian 1 oz. Silver Maple Leaf coins for just $2.29 per coin over spot. Buy as many of these world-class coins as you like for the same low price. Order today, while supplies last.

One of the Purest Silver Coins You Can Own

The 1 oz. Silver Canadian Maple Leaf is .9999 fine — or 99.99% pure Silver — making it one of the purest Silver bullion coins on the market. Sought after by both collectors and investors, this striking coin is an IRA-approved investment.

The coin features the effigy of Queen Elizabeth II on the front and an elegant single maple leaf on the back. Issued by the Royal Canadian Mint, the Silver Canadian Maple Leaf is widely considered one of the most beautiful bullion coins in the world.

Order Any Quantity for the Same Low Price

There’s no minimum quantity required to secure the special price of $2.29 per coin over spot! Order Silver Canadian Maple Leaf coins from APMEX.

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1 OZ APMEX Silver Rounds: $0.99 Per Oz. Over Spot!

Silver prices are on the move! For 24 hours only, you can buy 1 oz. APMEX Silver rounds for the remarkably low price of $0.99 per round over spot! Buy as many of these .999+ fine Silver rounds as you like for the same low price of $0.99 per round over spot, while supplies last. Act now. This special price is only in effect until 4 p.m. (ET) on Friday, Oct. 28.

Build Your Silver Portfolio with a Respected Brand

Bearing one of the most respected names in precious metals, APMEX Silver rounds feature a patriotic design of an American eagle clutching a ribbon that reads “Liberty” on a background of stars and stripes. The reverse is stamped with the APMEX logo, the purity of .999+ fine Silver and the guaranteed weight of 1 troy ounce.

Buy Any Quantity for the Same Low Price

Take advantage of this 24-hour opportunity to own any quantity of 1 oz. APMEX Silver rounds for only $0.99 per round over spot. Buy conveniently at APMEX.com until 4 p.m. (ET) Friday, Oct. 28, 2011, or while supplies last.

Add to your Silver holdings with 1 oz. APMEX Silver rounds.

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Video Commentary: The Potential Impact of the European Crisis on Investments

Is your portfolio ready?

With the European debt crisis continuing to escalate, now could be a critical time to review your asset allocation strategy, particularly as you consider the global economic outlook for the next 3 to 5 years. Having a well balanced portfolio – one that is properly diversified across all asset classes including stocks, bonds, cash and Gold – has perhaps never been more important.

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European Debt Crisis: Alternative Outcomes from History

No one can predict the outcome of the European Union (EU) debt crisis or the impact on the global economy. Regardless of the outcome, if you’ve allocated your investments among asset classes that historically do not move in the same direction, you’ve got a degree of protection for your portfolio. Learn more in our video commentary as APMEX Chief Executive Officer, Michael Haynes, reviews recent economic history and discusses three possible outcomes of the EU debt crisis and the potential impact on YOUR investments.

Uncertainty and Your Portfolio

Global uncertainty and the inter-relationships among world markets mean that an asset allocation strategy that includes exposure to non-correlated asset classes is an integral part of a long-term investment plan. Historically, Gold has played a key role in maintaining a well-balanced portfolio. As this chart shows, Gold has held – and even increased – its value over the past decade while the world’s major stock markets have suffered.

Your Asset Allocation Strategy

When determining your asset allocation strategy, you should consider each asset class – cash, bonds, stocks and Gold – and how each class is likely to perform over the next 3 to 5 years, based on your view and personal economic outlook. If you don’t have exposure to Gold, perhaps now is the time to consider how this world-class asset – with its history of offsetting the uncertainty in stocks and bonds – may help you achieve better balance.

Our Most Popular Products

APMEX offers a variety of precious metals investment options with beautiful Silver American Eagles and Gold American Eagles. Considered some of the most beautiful coins ever minted, American Eagles are among the finest bullion coins in the world. New and seasoned investors alike can purchase American Eagle bullion coins to cater to their individual investment needs.

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10 OZ APMEX Silver Bars: $0.99 Per Oz. Over Spot!

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Take advantage of today’s Silver prices and this significantly reduced premium to add to your Silver holdings. For one day only, you can buy .999+ fine 10 oz. APMEX Silver Bars for only $0.99 per ounce over spot!. This special pricing is in effect for only 24 hours, until 5 p.m. (ET) Wednesday, Oct. 26. Order any quantity of 10 oz. APMEX Silver bars today, while supplies last.

High Quality at an Incredible Price

The 10 oz. Silver Bars are .999 pure Silver and feature a patriotic eagle design on the front and the APMEX logo stamp on the back. These APMEX Silver Bars are convenient size for storage and can be easily liquidated. APMEX is one of the most trusted names in precious metals. You can be confident you’re getting high-quality Silver when you buy from APMEX.

Grow your Silver holdings with 10 oz. APMEX Silver Bars.

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Buy Silver ATBs for Your Investment Portfolio or Coin Collection

The 5 oz. ATB Silver Coin “Triple Play”

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Silver investors and collectors, add exquisite 5 ounce .999 fine Silver America the Beautiful coins to your portfolio. Choose from three products at three competitive price points based on the coin condition you prefer, while supplies last.

America the Beautiful (ATB) coins are U.S. Mint Silver products that were manufactured in limited quantities. The front of these coins is an exact replica of the U.S. Mint’s quarter dollar, while the backs are fashioned to honor our country’s magnificent national parks. Choose from three products at three competitive price points.

  • 2011 5 oz. Olympic National Park, WA  The least expensive of the three options, this 5 ounce .999 fine Silver ATB coin can add significant value to an investor’s portfolio. Its design exemplifies the unchanged wilderness, while the Roosevelt Elk in the foreground brings living beauty to the coin.
  • 2011 5 oz. Gettysburg PCGS MS-69 PL First Strike  A grade of MS-69 Proof Like means the finish on these coins is cleaner, with fewer imperfections than most other Gettysburg coins. The front of the coin depicts Soldiers National Monument, constructed to honor the soldiers who fell at the Battle of Gettysburg in July of 1863. With an incredible price for a certified coin, these are sought after by collectors
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  • 2010 5 oz. 5-coin set PCGS MS-69 DMPL First Strike  Collectors alert! Very simply, this is the highest-graded set from the best grading service of the hardest to find ATB coins. Only a very small number of ATB coins have this prestigious grade of MS-69 Deep Mirror Proof Like (DMPL) by PCGS. The five coin set includes Grand Canyon, Hot Springs, Mount Hood, Yellowstone and Yosemite National Parks.

  Own your 5 oz. America the Beautiful Silver coins today!

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Your Portfolio in These Uncertain Times: Gold Now?

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Is Your Portfolio Prepared for the Current Markets and the Next 3 to 5 Years of Economic Issues?

What You can Learn from the 2008 Liquidity Crisis:
How Gold Performed In and After the Market Fall

The global markets are in turmoil and seeking liquidity as a result of the current events. Perhaps now is the time you need to think about re-balancing your portfolio to weather these adjustments and set your course for the next 3 to 5 years. Today, more investors seek a balanced portfolio with all four asset classes: stocks, bonds, cash and Gold – the fourth asset class.

Gold is a global storehouse of value and prices can slide at times like these as some investors need to raise cash from one of their most liquid and most trusted assets, Gold, to cover losses and margin calls in other markets. Many advisors are commenting on the parallel of the current markets in Europe to the liquidity crisis that occurred in 2008 with U.S. markets and the Lehman collapse. In the 2008 crisis, Gold provided a source of liquidity as investors sold off some of their Gold holdings to meet their requirements.

Gold compared to S&P 500 from 2008 through 2011In this chart beginning three years ago, you can see how history demonstrates that Gold recovered from the crisis in September and October 2008 while the S&P 500 has continued in weakness as global economies have been mired in too much government debt. Now consider today: do you have a forecast for the next 3 to 5 years of the U.S. and world economies becoming stronger or weaker? Perhaps history can be a teacher.

With Gold now providing liquidity for those who need it, perhaps this is the opportunity for you to begin or add to your Gold holdings. As you consider the balance in your portfolio, it is important to keep your investment horizon, perhaps the next 3 to 5 years, as your guide.

Do you have questions? Our non-commissioned Account Managers are available Monday through Friday from 8 a.m. to 5 p.m. Central time at 888-518-7464.

Our Most Popular Gold Investments

Gold American Eagle

1 oz. Gold American Eagles as low as $89.99 per coin over spot

Since the Gold American Eagle was introduced in 1986, it has been in high demand. Its stately appearance and proud symbolism make the Gold American Eagle one of the world’s most popular forms of personal Gold ownership.

Gold American Eagle

1 oz. Gold Canadian Maple Leafs as low as $69.99 per coin over spot

Gold Canadian Maple Leaf bullion coins are a great way to invest. Many consider the Maple Leaf to be one of the world’s most beautiful Gold coins. Each Gold Maple Leaf coin is legal tender, guaranteed by the Canadian government for its weight and .9999 fine purity.

Balance your portfolio with the 4th asset class of Gold today.

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 APMEX Commentary via RSS feed and the  APMEX Blog via RSS feed.