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What's the best precious metals custodian / storage companies to go with for an IRA ...

I'm looking to roll over my IRA to a precious metals IRA. I know ... I know some of you will state to cash it out and buy them and store them at home. But I just don't want to take the tax hit and not take advantage of the tax benefits of IRA contributions, so that said I want to go with a precious metals IRA. So i'm looking for the best custodian / storage set up out there. I don't want to go with a custodian and storage facility that that will cost an arm and a leg, so what's the best bang for your buck?

I was looking a New Direction for the custodian and Citadel for the storage (Using APMEX for the dealer to get the metals).

Any suggestions would be much appreciated. Thanks!

EDIT: a couple people commented that you should be able to take physical possession of your metals in your IRA. I always thought you couldn't. However, I did some searching around and found this site:

http://www.broadfinancial.com/self-directed-ira/gold-ira

And on that page they state that you can in fact take physical possession if your IRA holds coins, but can't take possession of bullion. And doing the self-directed IRA with check book control model seems to be the way to go to avoid those outrageous fees (The fees are one of the main factors holding me back).



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I have Au and Ag in IRA

With sterling trust. I have had this account since 07, no complaints, but.. I obviously would rather hold it personally.
Listening to Jack Spirko of TSP or the survival podcast, I discovered that there are personal options. He did an interview with a man (sorry) from Mulligan Mint. They talked about creating an LLC and having your self directed IRA be the owner.
I highly suggest downloading this podcast (specific and in general) and I would love to know what others think.

Wow ....

I will definitely check that out. I didn't know that it was possible to set it up so that you could have the metals in your possession under an IRA. Thanks!

Cash and Stash

A safe bolted to a supporting beam or to the slab of your house.

Southern Agrarian

You are right - I would say cash it, buy metal, and stash it

The reason I ended up going the above route is I could not outline a credible scenario were taxes will not be materially higher in the future than they are today, even the penalty. Any way you may be discussing a much larger transaction than I executed.

Read the custodian contract carefully. Make sure that they are responsible for lost or stolen metal. It should clearly state what you are indemnified against and what not. Also look for sub-custodial verbiage, and avoid it.

My last comment is - custodians are still similar to banks. If push comes to shove they will give you FRNs and keep your gold if it suites their purpose. The contract/prospectus will most likely state this fact very clearly.

Good luck!

peAce

Liberty = Responsibility

Thanks for the comment ...

Very helpful, much appreciated!

I guess I didn't think about the fact that a custodian would simply give out FRNs is the SHTF. Definitely makes me think twice about it.

My house

: )

To my Liberal Trolls:
"Really Don't mind if you sit this one out. Your words but a whisper, your deafness a shout. I may make you feel, but I can't make you think."
Ian Anderson 1972

I may be wrong on this

but if you are using a self-directed IRA - you can store the coins yourself - but not bullion.

Maybe some expert can chime in - but I think that is accurate.

Not sure if you are using a self-directed IRA or not - but worth looking into.

Your options depend upon...

Many factors, but you can also opt for a Self-directed 401k and have physical possession of metals in a retirement entity. I'm in the industry, a guy at my firm sets these up for our clients every day.

This option requires an ongoing business interest, so if your only thing is w2 employment, you have to stick with the more mainstream metals IRA framework. Also if a spouse has a business, that typically qualifies as well.

Email me here if you want more info. It is a narrow piece of the industry but if the shoe fits.....

Thanks,

Eric

I'm pretty sure you can't store any precious metals yourself

Which totally sucks :(

Goldstar Trust

http://www.goldstartrust.com/

Has my recommendation.

Which depository are you with ...

The Delaware or Diamond State ... which would you recommend?

The fees at Goldstar seem reasonable. Thanks for the suggestion :)