This may be old news for some of you, but I just found out that GoldMoney has setup a facility that allows US Residents to put gold & silver into their IRA accounts. I came across this bit of news as I was browsing GoldMoney’s website. Pretty neat if you ask me. Just remember folks, putting your savings in gold & silver means you’re saving REAL MONEY, not inflationary prone paper.
I haven’t investigated this but I bet you can probably use other gold storage companies too. My personal favorite happens to be BullionVault.
Anyways, here is GoldMoney’s official press release:
10 March 2008 – GoldMoney today announced that there is now a new and tax efficient way for US customers to hold their gold and silver.
The Entrust Group, which is one of the leading providers of account administration services for self-directed retirement plans, has worked with a well established self-directed custodial account provider, International Bank & Trust Company, to create a precious metals facility for Individual Retirement Accounts (“IRAs”). One of the ways that this new IRA facility can be used is to hold gold and silver with GoldMoney.
James Turk, founder and chairman of GoldMoney explained: “We know that our customers like the ease with which they can purchase and hold gold and silver at low cost, which we then store for them in secure, allocated storage. Now our customers in the US can take advantage of these features in their IRA.”
Hubert Bromma, CEO of The Entrust Group said: “In our ongoing desire to provide additional investment diversification opportunities for our IRA and 401(k), this new system of buying and holding gold and other metals provides our customers with another alternative for diversification which up until now has not been available”.