Can I have more than one IRA?
Yes. An investor may have multiple IRAs, but no matter how many you have your total annual contribution limits remain the same.
Can I transfer money from an existing IRA account to fund my Precious Metal IRA, without incurring any tax penalties?
Yes. If you have an existing IRA or 401(k), the easiest way to set up a new Precious Metal IRA is by transfer. You transfer the amount you want to invest in a new IRA, and there are no tax penalties. Your IRA custodian knows exactly how to do this and will facilitate the process.
What types of IRAs are eligible to transfer or roll over?
All IRAs (Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Solo) are eligible for direct rollover. Ask your IRA custodian for details or any limitations.
Can I open a new IRA with a contribution?
Yes, you can open a new IRA with a contribution, and your annual contribution limit remains the same.
Does APMEX have a minimum dollar amount for an IRA purchase?
Yes, the minimum purchase from APMEX for an IRA is $2,000.00 (USD).
Is there a minimum dollar amount when I wish to sell my IRA Precious Metals back to APMEX?
Yes, our minimum purchase for all sales to APMEX is $1,000.00 (USD).
What is the difference between investing in a Precious Metal IRA and owning a Precious Metal ETF?
ETFs, or exchange traded funds, are most popular with traders and investors who need to quickly move in and out of markets. Physical metals are favored by those who buy and hold. If you own the physical metal you always have the option of taking physical possession of the actual metal, while an ETF is a paper instrument with counterparty risks.