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Author: LaughingRaven Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75528  
Subject: Re: Gold Investing Date: 10/15/2007 4:23 PM
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pedorrero's right. From
http://www.irs.gov/publications/p590/ch01.html#d0e7664 :

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 kicked out of the IRA, incurring any appropriate taxes and penalties. But we're not done yet.

Exception. Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U.S. gold coins, or one-ounce silver coins minted by the Treasury Department. It can also invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion.

pedorrero said:
The mere fact you're intersted in it now means you are probably going to lose your ass, but hey that's the market !

Ditto, but it's your IRA.

--
Raven
Don't trust the Internet; consult your tax advisor
for information specific to your situation.
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