Buying gold in an IRA?

GregB777
By GregB777 on Fri, Aug 23, 2013 - 3:22pm

Hello to all:

 

Any thoughts on how to buy gold in an IRA?  Obviously, buying physical gold is not possible in this scenario.  However, what would be a good proxy?  

 

GLD?  Gold mining companies?

 

Any input would be appcreciated!
 

Sincerely,

 

GregB

2 Comments

HughK's picture
HughK
Status: Platinum Member (Offline)
Joined: Mar 6 2012
Posts: 761
Gold via an IRA or other pension fund

Hi Greg,

I have a small Roth IRA that I started when leaving a job several years ago, and I have invested a significant portion of those funds into the Sprott physical gold and silver trusts (PHYS and PSLV) as well as some individual precious metal mining shares and mining share ETFs.  I also have a portion of one of my pension funds in here in Europe where I work now invested in the gold and silver ETFs of Zurich Kantonal Bank (ZKB).  The symbols of the funds that I have are ZGLD.SW and ZSIL.SW, which are hedged in Swiss francs, if I understand correctly.  Both the Sprott and the ZKB  claim to be fully backed by physical bullion, although sometimes they trade at a premium, and in that case, the total market capitalization of the shares is greater than the total value of the bullion held.  

If you search "sprott" at PP, you will find several comments, many of which are about PHYS or PSLV.

I am also aware of another bullion ETF, the Central Fund of Canada (CEF), but I don't know much about it.

I would expect you'll get a lot of responses, many of which will be more knowledgeable than mine.

Cheers and good luck,

Hugh

 

Doug's picture
Doug
Status: Diamond Member (Online)
Joined: Oct 1 2008
Posts: 3159
physical in IRA

Sure you can buy physical metal in an self directed IRA.  Normally you can't have actual possession of the metal, but it can be stored in allocated accounts in depositories.  I had two such IRAs for several years and closed one of them out recently.  I have had no problems.  I'm not recommending this company, but they can set up an allocated account.  www.Equityinstitutional.com

You will probably hear from those who also say you can take physical possession if you set up certain types of legal structures, but I'm not familiar with that.

Doug

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