Home Storage Gold IRA Benefits and Options For Local Storage
Home storage gold IRA benefits are abundant, but here we will emphasize the more important benefits of storing your gold IRA at home or at your local bank in a safety deposit box. As geopolitical instability escalates the volatility of U.S. and foreign countries stock market, more Americans and foreign investors are recognizing the importance of a larger portion of gold and other precious metals in their investment portfolios.
Many People in America are now moving toward gold IRAs because it is clearly the appropriate safeguard against the world’s current financial crisis. An IRA is a Individual Retirement Account set up by the United States Government for American citizens as a means to save for their retirement. So the question is, why invest in gold? The reason is simple. Unlike traditional IRA investments, Gold Individual Retirement Account’s value are not determined by global problems, such as fluctuations in fuel prices or the unreliable trend of wall street. Over the years, gold has proven to be a dependable investment alternative, providing individuals with a remarkably stable platform to enhance their prosperity over time. And recently, home storage gold IRA options have increased to give private investors more choices. Fortunately, the 1997 Act allows individuals to invest in gold bullion or coins through their IRA. Therefore, if you have an IRA, experts recommend you should invest in gold and better yet, home storage gold IRA.
Gold As A Crisis Commodity with Home storage gold IRA
Gold is consistently acknowledged as a crisis commodity because it is not adversely affected by negative global conditions. As a result, when negative circumstances such as inflation, war, weak currencies and bank crashes, and increase in petrol prices arise, precious metal gold and silver increase in value. Gold and silver’s inverse relationship with inevitable global environments has led many people to put a larger portion of their portfolios in precious metals.
Gold can be used as a hedge against inflation, global financial instability, and geopolitical factors. Its’ unique value increases when such adverse conditions are both, speculated and present. Investors who took precaution and invested in Gold largely benefited from the financial gains precious metals derived during instability. In most cases, making gold a part of your IRA is a great way of securing stable gains. But do not just take our word for it. If you are considering having a portion of your portfolio or IRA invested in Gold and other precious metals, you will want to research it for yourself. One key factor is Gold bullion’s historical earnings. With adequate research and analysis, the conclusion that Gold, throughout our modern history, has and will continue to provide unparalleled investment security and earning potential when countries using fiat currencies, such as our own United States, go through financial hardships.
Read and educate yourself. For example, During the Roman Empire, a Troy ounce of Gold would buy a Roman soldier his toga, leather belt, and a nice pair of sandals. Today, a troy ounce of gold will buy a man a nice suit, a nice leather belt, and a great pair of shoes. That is the power of Gold. It’s the stability and sustainability that makes it so attractive. Below are a few topics I recommend you research. You will find that gold and other precious metals are in demand globally by investors in different countries. Because gold is literally a liquid asset, it is sought after. You can keep gold in its original form, split it into pieces, and it will never rust over time. Because there is a finite amount, it is a metal that is in demand. You will find that Gold has never not had value. Indians used it for decor and Romans used it as a means to store wealth. Ask yourself, what has changed? Gold is still used as jewelry and still used to store wealth. Therefore, it has always had a value. Our ancestors, before IRA’s were created had Home storage gold IRA’s. They basically held all their gold and other bullion and investments in a safe place at home. You will find that Gold, unlike governments or businesses it cannot go bankrupt. Gold endures unlike fiat currencies. If you research fiat currencies you will find that every single fiat currency produced from the beginning of time has crashed. What we do not know is when but they all crash or lose their value at some point. In fact, the Romans, toward the end of their civilization began to debase their currency by mixing their gold coins with other metals such as copper. These eventually became common currency and eventual lost value. Roman citizens began using their mixed gold and copper coins for trade and saving or storing their pure gold coins. Their numismatic instinct made them keep the coins in which they had less of. It is human nature to keep items we have less of.
Topics to research before investing in a Gold and having a Home Storage Gold IRA
- Unlike a government or business, gold cannot go bankrupt or broke; it will never default.
- Precious metals are not made by man or his governments. They endure, unlike fiat currencies.
- Gold retains its buying power against inflation, whereas fixed-payment pensions and social security can lose value.
- Home storage gold IRA options.
- Precious metals are portable, liquid (easy to sell) and easy to store.
- Governments and central banks buy more gold than they sell, driving up prices.
- Returning to the gold standard could cause gold to increase sharply in value.
- Precious metals are currently one of the least risky investments.
- Home Storage Gold IRA benefits.
Home Storage Gold IRA Benefits
Assuming you have done your research on the benefits of purchasing gold and other precious metals, lets take a look at some of the options when storing the gold. There are two general ways to store gold. You can buy the gold and store it yourself or buy the gold and store it at a private depository. The both have advantages. Lets take a good look at those advantages. When you purchase physical gold with your IRA you now have to make sure it is properly secured. One way you can store your gold coins such as American Eagles or Canadian Maple leafs is by purchasing a safe and placing it in your home. The obvious advantage to this is that you have 100% control over it. You can move it, count it, but most importantly, sell it the moment you want to sell it. Because American Eagles and Canadian Maple Leafs are backed by the United States and Canada, you will not have any problems selling them to any other numismatic or local coin dealer. The advantage here is access to your gold coins by storing your IRA locally. This means you literally can see your gold IRA any time you like. The alternative to this is not being able to have access to your gold IRA because it is stored somewhere in another state in the U.S. which by the way you will have to submit a form and wait for them to send the bullion to you which could take days and even weeks. Not to mention, if there ever is some kind of confiscation of Gold like there was here in the United States. In 1933, President Franklin D. Roosevelt (using the “Trading with the Enemy Act of 1917″) issued an executive order on April 5, 1933 requiring that less than a month later on or before May 1,1933, all persons in possession or control of gold coins, gold bullion, and gold certificates (i.e. paper currency redeemable in gold coin of the United States) to turn them in to any federal reserve bank or any “member bank” of the Federal Reserve system. This is why in my opinion, I think it is important to have access to your gold as quickly as possible.
Home Storage Gold IRA Guide
The second alternative to a home storage gold IRA would be to have it stored at a local bank. For a small fee you can have your gold IRA stored right around the block at your local bank. Access would not be as fast and easy to home storage however it might mean peace of mind because it is stored in a huge vault that is monitored 24 hours a day with video surveillance. The only disadvantage is that there is a fee for the safe deposit box and you do not have immediate access to it. Here is great information regarding safe deposit boxes fees on bankrate.com. Banks like Chase Manhattan, Bank of America, Wells Fargo, and local credit unions have specific hours which give you access to your gold IRA. This means if gold hits a record high late Friday and your bank is closed, you could miss out on the quick investment. Once you have your gold and decide to store it at home or safe deposit box, I recommend storing your gold coins in coin boxes.
To sum up, having gold and other precious metals as a means to hedge inflation as part of your IRA is not only a safe investment during international Geo-political turmoil, it can safely be stored at your home or a local safety deposit box at your bank. Home storage gold IRA is becoming more common due to instability in the United States and abroad. Having home storage gold IRA gives you the satisfaction of knowing your gold IRA is stored locally and not in another state that might require weeks to convert it into gold and ship it to you. That is why home storage gold IRA is often recommended by many numismatics, coin dealers, and portfolio managers. If you have any questions or comments please feel free to comment below.