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I have money taken out of my check that goes to my IRA. I just started doing this recently. I have like $1800 there now. I can't decide what crappy stock to buy with it. So i was thinking of just buying gold -- but even better -- a gold chain. Although I am not really sure which way it would go; short run down; long run up . . . is what I'm thinking.

I would suggest changing your thinking about the gold chain, at least with your IRA money.

Gold chains are considered collectibles. If IRAs are invested in collectibles, the money is considered distributed to you, and you will owe any taxes and penalties on the distribution. From IRS Pub 590:

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.

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.

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