Posts Tagged ‘Precious Metals IRA’

If you are a conservative you’ve probably heard at least one commercial featuring Glenn Back promoting the sale of gold bullion at the very best gold prices available. Since 2008, his radio and television shows as well as his internet endeavors have been sponsored by Goldline, LLC, a company he enthusiastically endorses. But do they really have the best gold prices on gold bullion?

Things Aren’t Always What They Seem

Most large companies maintain a publicity department to project a favorable image and counteract any negative feedback or news regarding their operations. In most cases the public can be persuaded to believe the best about anyone or anything if there is a good PR firm involved. However, once legal action is taken it’s hard to put a positive spin on it. This is what happened to Goldline.

In November of 2011, California prosecutors charged Goldline with using a bait-and-switch tactic to lure customers into buying antique coins as investments. A total of 19 counts of theft and fraud were included in the indictment. The complaint alleged that Goldline lured customers with gold bullion then persuaded them to invest in overpriced coins “using false and misleading claims”. There were also complaints from customers who received different products than what they ordered. Goldline had to pay to have a federal prosecutor monitor their operations for five years in order to make sure they are operating honestly and not misleading consumers.  

Sales personnel at Goldline were trained to offer gold bullion but switch to overpriced antique coins that were marked up as much as 50%. In order to lure customers seeking gold bullion and the best gold prices Goldline hired high visibility spokespersons such as John Mercanti, a retired engraver for the U.S. mint. Other prominent endorsers include radio personality Mark Levin, Mike Huckabee, actor and politician Fred Thompson, and Laura Ingraham. 

Don’t Believe Everything You Hear

Celebrity endorsements do not mean a product is good; it means that the celebrity is being paid to get you to buy the product. A popular actor or politician brings in sales because people trust their perception of the kind of person they are. They don’t realize that those personalities are not actually the people they portray on the screen or impersonate on the campaign trail. A product should be purchased on its own merits, not by what a popular actor or public figure says about it.

When a spokesperson claims that they are a customer of a company like Goldline it is probably true. Companies hand out products to their endorsers at no charge or minimal cost so that they can make the claim that they buy the product.

invest in precious metals ira

What’s So Wrong About Buying Antique Coins? 

There is nothing wrong with buying antique coins as investments as long as you know that their value is fluid depending on the market. Numismatic coins are a fascinating hobby and can be quite profitable but their value depends on supply and demand. Buying a gold collectible/antique coin will often cost you more than the value of the gold it contains and if there is no demand for it you can lose up to 90% of what you paid for it.  

If you are buying antique coins because you love to collect and sell/trade them, that’s a valid reason. If you are buying them in order to invest in gold, you may be making a costly mistake. Selling these coins to buyers who know nothing or very little about the market for collectible coins is very profitable to the seller but quite costly for the buyer. Remember that it is their business is to get you to buy those coins and they’ll do anything to get your money. 

Making Money by Fomenting Panic 

Companies dealing in gold bullion and other precious metals aren’t the only ones that encourage a fear of economic and societal collapse to get you to buy their products. If you acted upon all the dire warnings you hear on television and radio your home would be full to the rafters of gold, silver, platinum, palladium, freeze-dried food, guns, ammunition, water filtration devices and various items of barter. Their reasoning is that if you feel as if your family is threatened you’re going to spend all you can afford on these things. Actually, the only ones that profit are the merchants you buy from. It total collapse really came to pass, none of those items would do you much good in the chaos that would result. 

Another tactic Goldline and other companies are fond of using is fear government confiscation of gold. The sales staff would tell prospective buyers that antique coins are the only type of gold that the government can’t legally confiscate. This is not true and there are no federal laws or Treasury regulations that back up that claim. It’s true that the federal government confiscated gold in 1933 but that is the only instance and federal law states that confiscating the gold of private citizens is legal only in a national emergency.  As a condition of their settlement with California, Goldline is no longer permitted to claim that the federal government can confiscate the gold of private citizens.

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When is the Best Time to Buy Gold?

The best time to buy gold, quite frankly, is any time. There are scores of headlines about gold hitting bottom or being at its highest price in history, shouting at you from internet and print headlines as well as mass media. The truth is that whatever the price of gold is, it’s more valuable than our paper currency that is backed only by air and promises.

You’ll find that when stocks are at an all-time high, inflation is under control and the dollar is strong the price of gold is low. This doesn’t mean that gold is worth less, it just means that consumers and the government are confident in the economy and the demand for gold is not at its highest. When these conditions worsen, the price of gold is higher. Gold’s worth is not dictated by the economy, only its price. It is the most stable commodity you can buy and will be one of the few valuable media of trade if the currency collapses.

Make Your Gold Investment Wisely

It’s a good idea to diversify with silver and platinum when you are investing in precious metals. As well as having a variety of metals it is also wise to buy a number of sizes. Precious metals, including gold, are sold in weights as small as one gram (.03 ounces). This means that you can buy gold for as little as $40-50 and begin to build your security and wealth.

Glenn Beck and other celebrities and public figures will try to get you to buy gold from the companies that pay them. It’s up to you to thoroughly research the companies you are thinking of doing business with. Dealing with a company you can trust is just as important as getting the best gold prices on gold bullion and other precious metals when you are insuring a secure retirement.

We suggest you to follow the below three steps:

Investing your hard earned money should not be a quick decision – We advice you to do your research and be absolutely comfortable with whichever company you decide to invest with:

Step 1:

Visit our  Top Gold IRA Companies review page

Step 2:

Visit our recommended company Regal Assets

Step 3:

Call this Regal number and get all your questions answered – Free of Cost – 1-877-721-2659

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How Will President Trump Affect Gold Prices?

by IRA Rollover in Politics & Gold with Comments Off on How Will President Trump Affect Gold Prices?

Nothing influences the price of gold quite like politics, particularly in an election year. No matter who wins or what they have promised, the weeks following the election are usually turbulent and uncertain for gold prices.

Changing Policies Mean Price Fluctuations

In the two weeks following Donald Trump’s election gold fell 0.1%. The stock market has been volatile as well, in large part because no one knows what to expect from the new president. The only thing anyone is certain of 6 weeks into the new presidency is that there will be some big changes in policy and uncertainly about the economic future. The two executive orders on a travel ban, uncertainty about whether there will be a southern border wall and how much it will cost, and the reorganization of major government offices tend to make the markets insecure. The price of gold reflects those uncertainties, moving up and down with every new change. It seems that the only consistent thing these days is inconsistency.

This could be good news for gold prices. As big changes are made the economy suffers from a general lack of confidence, the dollar weakens, and the price of gold rises. Some experts are predicting that gold will gain another 15% by the end of 2017 to hit at least $1400.

What do Trump’s Cabinet Appointments Mean for the Price of Gold?

President Trump has some big plans for the nation and none will come without consequences, both good and bad. The Department of Justice, for example, is going to change the entire attitude of law enforcement with the installation of Jeff Sessions as Attorney General. More emphasis will be placed on the letter of the law and less on recent social justice causes. Likewise, Trump’s appointments to the Supreme Court over his term of office will undoubtedly impact many areas affecting business and commerce and thus affect the price of gold.

One of the Trump appointments that will make a huge impact on gold is Rex Tillerson as Secretary of State. His duties include meeting world leaders, negotiating treaties and agreements, and working to insure that economic conditions are favorable to the U.S. A former CEO of Exxon, he is uniquely qualified to deal with oil rich countries and has many contacts to tap into when it comes to negotiating trade deals. He can change or cancel existing trade agreements if they don’t appear to be beneficial to the country. This could mean our economy will improve and become more financially stable, thus driving down the price of gold. Or he could be the wrong choice for the job and drive up the price of gold by making the economy more unstable.

What about His Financial Policies?

Trump’s choice of Steven Mnuchin for treasury secretary (also rumored to be the choice of Mrs. Clinton if she had won) created a lot of uncertainty for many. Mnuchin has a solid financial background; he’s connected with both Goldman Sachs and the Soros Fund Management. It appears that he may endorse the continuation of charitable tax deductions for the wealthy, a deduction that allows them to avoid paying millions in taxes each year. Mnuchin may also endorse more tax loopholes for corporations assuming tax reform doesn’t lower corporate tax rates. He also is a proponent of abolishing the home mortgage tax deduction that mainly benefits what’s left of the middle class. These policies would not be doing the economy any favors and may even have a devastating effect on consumer confidence and spending. In this case the price of gold would most certainly get a substantial boost.

As for interest rates, the Feds are not changing them yet because of the pressure of rising prices. Trump has said several times that the zero interest policy of the fed since 2008 has been bad for both savers and the country’s economic growth. Concern about interest rates along with fears of global depression and a tariff war caused gold’s price to spike on election night then lose $100 an ounce in the days following the election. Speculation about rising inflation also helped the price of gold to rise.

During his campaign, President Trump mentioned a few times that he’d like to return to the gold standard but that is very unlikely. If it did happen there would be little demand for gold and the price would fall dramatically.

Will Donald Trump Spend the Country Into Ruin?

If Trump makes good on his promises to spend $1 trillion on the country’s infrastructure, improve the military, and dramatically cut taxes for businesses the economy might suffer but gold prices would rise. The national budget is now in the red $500 billion each year and Trump’s plans could worsen the situation even if we experience higher growth due to those policies. The spending excesses of the past 8 years would make any recession push our budget deficit to more than 10% of the GDP.

If Trump succeeds in tightening the purse strings and interest rates go higher the fed may be able to avoid monetizing the national debt. Gold prices would naturally shrink as the economy and consumer confidence improved. However, if Trump is not willing to subject the nation to real economic distress that would follow higher interest rates the fed would have to monetize the debt and set us on a course toward hyperinflation. That would be a boon to gold prices.

The speculation that a lot of regulations will be tossed off the books is making businesses optimistic and may compensate for some of Trump’s spending. Many regulations have already been tossed aside, improving business conditions and making the stock market a bit healthier. The previous administration instituted over 25,000 new regulations on business and the environment that drastically reduced the number of new businesses, crippled or destroyed many small businesses and adversely impacted the bottom line of many large corporations. Indeed, many major businesses moved to other countries. This trend is reversing since a new president was elected and at least two major corporations have cancelled their plans to move or open factories in other countries.

Rumors and Drama in the White House

There has been much speculation among those unhappy with the new president as to whether Donald Trump will be impeached and not serve out his term of office. This would certainly wreak havoc on the economy and gold prices would soar. Impeachment, though, is a rare occurrence when it comes to our presidents. Impeachment proceedings have mostly been brought against judges in the federal courts, not the highest office in the land. And a presidential impeachment does not mean he or she loses their office.

A public official can be impeached only if they are convicted of treason, bribery, or other high crimes and misdemeanors. The last requirement is subject to political manipulation and usually means that the official neglected his duties. For instance, President Bill Clinton was impeached in 1999 for perjury and obstruction of justice. He was not removed from office because no more than 50 senators were willing to vote for his ouster. A House majority is required to bring impeachment charges; the Senate then tries the official and 2/3 of their votes are needed to convict. The only other president to be impeached was Andrew Johnson and he kept his office because of the lack of one vote 

It is unlikely that the price of gold will be affected by something as dramatic as the impeachment of the president. That will come as a relief to many who prefer consistency to drama.

Where Does This Leave the Price of Gold?

There have already been a lot of changes and many more are on the way. The price of gold surged to $1,337.40 once the election results were in but fell below $1,300.00 as the financial world’s confidence slowly grew. By February 23, 2017 the economy calmed down further and gold had fallen to $1,249.55.

Predicting the price of gold isn’t always easy given all that’s happening in the Trump administration and the effect it may have on the economy. A healthy economy means lower gold prices and a struggling economy drives the price of gold higher. The important thing to remember is that gold has the same value no matter how many dollars it takes to buy it; it’s the dollar whose value changes, not the gold. The price of gold will always be a bargain for the security and lasting value that it brings.

How to Invest in an IRA

by IRA Rollover in Gold IRA with Comments Off on How to Invest in an IRA

If you’re wondering how to invest in an IRA, you have a lot of options.  What works for one person, though, may not be right for another so you must assess your own needs and expectations when deciding how to choose assets for your IRA.

The younger you are the more aggressive you can be and the more risks you can take.  High risk/high return investments are fine when you are in your 20s and 30s but if you’re over 40 you’ll probably want to begin to be more conservative.  Be sure you are comfortable with it—if a trade would make you worried or lose sleep, don’t do it.

You can invest in any security that is publicly traded such as bonds, mutual funds, and stocks.  Many like mutual funds because it gives them a large “basket” of assets from around the world—a start-up in Kentucky, an established oil field in the Middle East, a manufacturer in Germany, etc.

Bonds can be a real asset, too, if you choose carefully.  Buying a bond is nothing more than loaning money and having it paid back with interest.  If you buy a $1,000 bond from the government, they are borrowing that money from you.  When the bond becomes due, you will get the face value of the bond plus interest accrued.  Unfortunately, government bonds aren’t paying much interest right now.  The upside is that they are considered a very safe investment.  Bonds are also issued by publicly traded companies and usually pay much high interest than government bonds.

Investing in stocks can be very lucrative if you know which ones are likely to gain value.  For example, those who invested in a little start-up company run by a kid named Bill Gates were very, very happy with the returns on their initial investment!  There aren’t too many of us that will luck into that type of stock but there are hundreds of other stocks that will help your IRA grow.  The stock market can be stressful so if you aren’t comfortable with your level of knowledge you may want to let your broker help you with your

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decisions.

Then there are precious metals, an investment for people who want to avoid inflation, deflation and hyperinflation.  You can buy gold, platinum, silver, or palladium for your IRA and know that it will never lose value.  A dollar’s worth of gold will always be worth a dollar.  Whereas to buy the same dollar of merchandise in 2012 as you did in 2008, you would need about $1.40.  Gold and other precious metals protect you from the instability of currency.

It’s important to decide which types of assets you want in your IRA.  Depending on your temperament, your knowledge of the market, or your access to financial advice, there are many choices you can make.  But in deciding how to invest in an IRA you should definitely consider investing part of your funds in inflation-proof assets like gold and other precious metals.

Precious Metals IRA – What You Need to Know

by IRA Rollover in Gold IRA, Precious Metals IRA with Comments Off on Precious Metals IRA – What You Need to Know

While many people understand that a gold backed IRA is a good idea, savvy investors know that expanding into a precious metals IRA is the best way to diversify. It’s always a good idea to diversify for maximum security.

Precious metals are one of the best investments available to those looking for a stable investment that is less likely to erode over time. Throughout history, precious metals have held their value fairly well and rarely shift much. This has made them the go-to for investors who want to ensure a return on investment. Gold, silver, palladium and platinum are the four metals most likely to hold their value over time.

Since money can be printed it is not considered a solid investment. The value can fluctuate greatly and paper money may even lose all value. However, metal is a physical asset that cannot be printed or multiplied so it is not likely to lose its value.

Understanding Precious Metals

Gold and silver IRA accounts were the most common for years, but you can now add platinum and palladium to your investments through a precious metals IRA. If you currently hold a gold backed IRA, you may be able to switch it without setting up a whole new account.

Each investment is represented by actual metal which is held in a secure depository and insured. In many cases, should you choose to in the future, you can cash out by requesting real metal in the form of coins or ingots.

Investing in Gold

A very well known metal, gold has been used by nearly all civilizations to represent things of value. Only certain forms of gold are permitted in a gold IRA. The gold must be a certain purity. While it depends on the IRA provider as to which gold types are permitted, the following are commonly used:

  • American Eagle Coins
  • Canadian Maple Leaf Coins
  • Austrian Philharmonic Coins
  • Gold Bars from Approved Refiners

Where the gold is purchased and where it is held will depend on where you are setting up your gold and silver IRA.

Investing in Silver

Silver is considered to be a good, stable investment, though it is worth less than gold. The difference in price may be preferable for those looking to invest in a silver IRA account, with less money available. Like gold, the quality of the real silver backing the IRA is important.

Generally, Canadian Maple Leaf, Austrian Philharmonic and American Eagle silver coins are used to back the IRAs. Bars are usually 100 oz, but this may vary, depending on where you have set up your account.

Investing in Platinum

Platinum isn’t just for wedding rings and jewelry anymore. It’s also a worthy investment for anyone looking to the future. When it comes to platinum, your precious metals IRA will be backed by coins or bars from an accredited source. Coins may be Australian Koala, Canadian Maple Leaf or American Eagle.

Investing in Palladium

This rare, white precious metal is a unique addition to IRA accounts and can bring the value up considerably. Most IRAs will only accept bars from specific, accredited refiners, unlike the other metals, which are also available in the form of coins.

Gold vs. Silver: What’s the Difference?

If you are trying to decide between a gold IRA and a silver IRA, you may need a bit more information. Some people make their investment according to their preferred metal, but if you are looking at monetary stability, gold wins out.

Silver is frequently chosen by those who are looking for value at a lower cost. You get more metal for the amount you pay, since silver is not worth as much as gold. Silver prices tend to be based on supply and demand, which means the value can change quite a bit over the course of a year.

Gold, on the other hand, is valued for other reasons and does not rely much on supply and demand. If you can afford the premiums for gold, you will have a higher value investment. This will stand you in good stead over time.

Another reason gold is a better option is the fact that its value tends to hold more steadily than that of silver. In fact, when all other metals drop in value, it’s not uncommon for gold to rise. However, it is a good idea to diversify if you are worried about stability.

Investing in Precious Metals

Whether you are choosing a single metal account or a precious metals IRA, you have a few options for buying.

Self-Directed: This account type means that you choose where you want your funds to be invested. You have more control over everything and can specify the types of metal that you wish to invest in.

Traditional: If you have a traditional account, you may be able to roll it over. This is dependent on your gold ira company, but in most cases, it shouldn’t be an issue to move your monetary investments in an existing IRA to a precious metals IRA. Check that you will not have any tax issues before making the switch.

How Much to Invest

The amount to invest in your precious metals will depend on a few factors, including your budget, whether you want to build more equity for the future and how much you already have invested.

Take the time to understand all the risks and benefits before deciding which IRA to invest in. You may decide that a gold IRA is the best allotment of your funds. Or perhaps you want to branch out a bit more with a precious metals IRA. Either way, you will want to be fully informed before making any major decisions regarding your account. It’s not a bad idea to seek tax advice before investing.

If you are still debating which option to try, you might want to look into a gold and silver IRA where you can have both. Another option is the precious metals IRA, which is usually self-directed, allowing you to choose the metal amounts you prefer.

We have done a detailed survey of top Gold IRA companies and have reviewed them for you.

We highly recommend Regal Assets for its Flat IRA fees, Extremely calm and professional Sales force (not pushy) and Outstanding online reputation.