Buy Direction Letter – Precious Metals
Use this form to purchase precious metals with your IRA.
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What is the process to purchase metals with my IRA?
Once you have identified a precious metals broker you would like to work with, you will need to submit a completed and executed Buy Direction Letter – Precious Metals. A Vantage Investment Specialist will work with your broker to purchase your selected metals in the name of your IRA.
What fees are associated with purchasing precious metals?
There is a $75 transaction fee to purchase precious metals within your IRA. Shipping fees will also be charged based on weight and metal type, with a minimum of $50. A detailed overview of all account fees can be found in the Fee Schedule.
How long will it take to complete a precious metals transaction?
Once Vantage has received the Buy Direction Letter – Precious Metals and all supporting purchase documents in good order, your purchase request will be completed within 2 business days. You can expect to receive an email confirmation once your request has been processed.
What precious metals are permissible to purchase within my IRA?
Only precious metals which meet the requirements of IRC 408(m)(3) may be held by your IRA. Please contact your precious metals broker for a complete list.
Are my precious metals insured while stored at the depository?
Yes, up to $1 million dollars.
Why has the value of my coins gone down when the value of gold/silver is going up?
Since Vantage is not a brokerage firm or investment company, we report the market values obtained from the third party precious metals brokerage company on a monthly basis. Please contact your precious metals broker for any questions pertaining to the market value of your metals.
May I visit the depository where my metals are being held?
Please contact your depository directly to determine whether you can obtain access.
Am I able to personally have possession (custody) of the precious metals owned within my IRA?
No, all precious metals need to be in the custody of a third party depository.
How are Required Minimum Distributions (RMDs) handled for precious metals accounts?
You can complete and submit a Sell Direction Letter – Precious Metals along with a Distribution form at which time you can elect to take a cash or in-kind distribution.