In the United States, there are a lot of people frustrated by their financial futures because they fail to properly invest their money. The biggest names in the industry such as Igor Cornelsen have noted that one of the safest investments for new investors is actually gold. Thanks to the Tax Payer Relief Act of 1997, Americans can now include gold into a Roth, Individual Retirement Account (IRA) account without fear of heavy taxation or repercussions.
There are four precious metals in which people typically invest: silver, palladium, gold and platinum. Each of these makes a fine investment, but gold really is the gold standard. Silver and Palladium are so inexpensive that it would cost too much to store a substantial amount with a reliable custodian. Platinum is more rare that gold, but it’s also notoriously unstable. The spot price of platinum can sometimes drop beneath that of gold, and a serious investor could see a substantial piece of his or her fortune dissipate in a matter of days.
Even though gold lost some value in early 2014, it gained value for 52 straight quarters up to that point, netting investors billions. What’s more important is the fact that this climb took place during an epic recession. All of the above reasons make a precious metals IRA seem like the perfect choice.
It’s important to remember that all but one of the four precious metals performed poorly in the face of the recession. Not all gold is permitted into a precious metals IRA. Gold bullion can be included into the IRA so long as it bears the New York Mercantile Exchange (NYMEX) or the Commodities Exchange Incorporation (COMEX) authentication hallmark.
Get Your Coins in Order
There are several minted coins which can be incorporated into an IRA as well. The American Eagle is a staple amongst coin collectors, and it’s also available for inclusion into an IRA, as are the Canadian Maple Leaf and the Australian Philharmonic. These coins may appreciate in value faster than than bullion bars because they are coveted as collectors items.