Home MCM Information Instructions For Opening A Precious Metals IRA Account

Instructions for Opening a Precious Metals IRA Account

Open a Precious Metals IRA Account

MCM (ModernCoinMart) would like to be your source for IRA eligible precious metals bars and coins! The following is a list of steps for purchasing precious metals from MCM for your IRA account. These steps MUST be followed in the order they appear here. Bookmark this page or add it to your favorites and come back any time you need to reference these instructions.

Easy as 1... 2... 3

Step 1 Step 2 Step 3

1. Open an IRA account

MCM is NOT the administrator of your IRA account. Below is a list of account adminstrators for your choosing that will work with you to place metal into your account. We can help you with the process of opening the account, but we cannot open it for you. You must be in direct contact with the IRA Administrator to complete the process. Visit the following sites then carefully select which IRA administrator you would like to use (listed in aplhabetical order):

GoldStar Trust Company

New Direction IRA

2. Fund Your Account

Once you have selected which IRA account administrators you would like to use and have opened your account, you will need to fund that account through your selected IRA representative. MCM cannot assist you any further with the process until your funds are verified in your account.

3. Order Your Items

Once your funds are verified in your account, you may:

  • Call us at 1.800.362.9004 to order items for your account.
  • Call your fund custodian and have them place the order with us.

Once the items are ordered and funds clear from your account, we will immediately ship your precious metals items to your chosen holding facility. MCM does NOT serve as a holding facility for your account.

Frequently Asked Questions

  1. What items are eligible for me to include in my Precious Metals IRA?

    The following is a list of most of the approved items allowed in a Precious Metals IRA account. Contact your account administrator for a complete, detailed list:

    • Gold, Silver, and Platinum Eagles.
    • Uncirculated American Gold Buffalo coins.
    • Canadian Gold, Platinum or Silver Maple Leaf coins.
    • Austrian Gold or Silver Philharmonics coins.
    • Australian Gold Nugget coins.
    • Australian Silver or Platinum Kookaburra coins.
    • Accredited Gold (.995+ fine), Silver (.999+ fine), Platinum (.9995+ fine), or Palladium (.9995+ fine) bars.

  2. What are some commonly traded items that are NOT allowed?

    Certified coins are NOT allowed in a Precious Metals IRA. Additionally, neither Krugerrands nor Proof American Gold Buffalo coins are allowed in Precious Metals IRAs. Contact your account administrator for a complete, detailed list.

  3. Can I put precious metals I already own into a Precious Metals IRA?

    Unfortunately, no. All of the precious metals to be included in your IRA must be purchased AFTER opening the IRA account.

  4. Why can't I have my IRA metal delivered directly to me?

    The law requires that your precious metals investment be placed in a secure facility. Most IRA account administrators will give you a choice of secure facilities in which your precious metals holdings can be stored.

  5. Can I roll over funds from an existing IRA to my precious metals IRA?

    In most cases, yes. Speak to your IRA administrator of choice for details.