What Is a Precious Metal IRA?

A precious metal IRA is a type of self-directed individual retirement account (IRA). They offer investors many of the same benefits as traditional IRAs, such as tax advantages, flexibility, and diversification. But unlike traditional IRAs, precious metal IRAs give investors access to investments like precious metals, real estate, collectibles, and cryptocurrencies.

Precious metal IRAs are designed specifically for those seeking to add precious metals to their portfolio, and they differ from traditional IRAs in a number of ways. For one thing, they don’t require a minimum balance to open an account. And while most traditional IRAs limit contributions to $5,500 per person ($6,500 for married couples filing jointly), there are no annual income restrictions on precious metal IRAs. In addition, precious metal IRAs aren’t subject to federal taxes on earnings, dividends or capital gains.

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