Precious Metals
Investing In Precious Metals
Financial professionals across the globe all agree that asset diversification is the key to success. To reduce the risks of investing, they suggest the purchase of precious metals to diversify investments among different securities or asset classes.And now, you can hold precious metals in your Summit Trust Investment Account. With our Precious Metals account, you can invest in all types of precious metals, including gold, silver, platinum and palladium.
Approved precious metals investments:
- GOLD BARS & COINS: At present, gold bars with a purity of 24 karat (0.995+ fineness) are allowed into an IRA. They must be hallmarked by a NYMEX- or COMEX-approved refiner/assayer. These bars come in the following sizes: 1 ounce, 10 ounces, kilo (32.15 ounces), 100 ounces, and 400 ounces. Gold coins having a purity of 24 karat (0.9999 fineness) are the only ones allowed in an IRA, with the exception of the 22 karat US Gold Eagle. Readily acceptable for gold IRAs are the popular bullion coins from America, Australia, Austria and Canada. The South African Krugerrand, being a 22 karat bullion coin, is not allowed.
- SILVER: Regarding silver investments, only silver coins and bars with 0.999+ fineness are allowed. These include the 1 oz. US Silver Eagle, Canadian Silver Maple Leaf, and the Mexican Silver Libertad bullion coins. Investors can purchase 100 oz. silver bars and also 1000 oz. silver bars. Pre-1965 bags of US silver coins (dimes, quarters, half dollars, and silver dollars) are not allowed in an IRA because their alloy contains only 90% silver and thus does not meet the fineness standard.
- PLATINUM GROUP METALS: Platinum and palladium bars and coins of 0.9995+ fineness can also be placed into a precious metals IRA. Both the US and Canadian Mints make 1 oz. platinum coins. Other countries, such as Great Britain and Australia, have 1 oz. platinum coins which are not as well known but also qualify. All platinum and palladium bars and coins must be from a NYMEX- or COMEX-approved refiner/assayer. Private companies with well-established hallmarks, such as Johnson Matthey and Englehard, manufacture platinum and palladium bars ranging in size from 1 oz. to 100 oz.
Opening your Precious Metals Account with Summit Trust is Secure and Simple.
Step #1: Download a PDF of our Precious Metals Investor Kit, which includes all the forms you need to open a Summit Trust Precious Metals Investment Account. We strongly encourage you to read all the materials carefully to ensure that you understand the investment you are considering. Complete the account documents.
Step #2: Fund your account.
Step #3: With our assistance, you will choose the type of metal you wish to acquire. We will secure the best possible market price; once confirmed the metals will be shipped to the depository. All metals are safely stored with Delaware Depository Service Corp. Upon arrival your metals will be inspected and processed (Coins are individually marked and physically segregated - not mixed in a vault with other coins), thus completing the transaction.You will receive confirmation and will be able to monitor your account online.
If you do not have a gold dealer, please contact us at (800) 822-6711, and we can help you with the transaction.
For detailed information on the various precious metals pricing, go to our affiliate website BullionValues.Org.
For more information, please read the Precious Metals Investment Account Frequently Asked Questions by clicking here.