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Subject:  Re: Gold Investing Date:  10/15/2007  4:23 PM
Author:  LaughingRaven Number:  59707 of 78166

pedorrero's right. From :

Investment in Collectibles
If your traditional IRA invests in collectibles, the amount invested is considered distributed to you in the year invested. You may have to pay the 10% additional tax on early distributions, discussed later.

Collectibles. These include:
Artworks, Rugs, Antiques, Metals, Gems, Stamps, Coins, Alcoholic beverages, and Certain other tangible personal property.

Which I think is their jargony way of saying you can't do that. If your IRA invests in these items, it's immediately kic