How to Buy Gold
Taking Delivery of Gold
Some U.S.-based clients prefer personal possession of their bullion holdings and therefore these clients take delivery of their coins and bars.
Gold for delivery in the U.S. will range from 1 ounce bullion coins and small bars, up to 1kg bars (32.15 ozs) and even the large 400 oz good delivery bars that are preferred by central banks and some institutional investors. It is essential to ensure that you have a secure storage location and adequate insurance if taking delivery of your gold.
Gold in My Storage Account
GoldCore Secure Storage enables U.S. clients who do not wish to take personal possession of their gold to store it in GoldCore’s secure vaults in the safest jurisdictions in the world. GoldCore utilises the precious metals storage facilities of industry-leading suppliers Via Mat International and Brink’s.
Precious metals held by GoldCore on behalf of GoldCore clients remain the property of the client, we simply act as your custodian under a bailment system.
Clients who wish to visit the vault where their gold is being stored are welcome to do so, by prior arrangement and in the company of a GoldCore representative. Clients who wish to pick-up their gold from where it is being held are free to do so.
It is important to be aware that you do not have to buy bullion from Goldcore to avail of our secure precious metals storage facilities. Existing owners of bullion can simply transfer their bullion from private possession or existing storage to the ultra safe GoldCore Secure Storage.
Steps to be undertaken:
- Research the gold market and the recent price ranges. Also research your purchase and the preferred product format: coins or bars or a combination of the two. It is important that you familiarise yourself with the various options involved and to do due diligence on the potential companies from which you are considering buying.
- For purchases through GoldCore, go to www.GoldCore.com, create your own secure online account in your preferred currency with your own highly secure login and password, and then follow the account funding steps. You can then buy bullion coins and bars for home delivery. You can add GoldCore accounts in other currencies when logged into your secure account area, if you wish.
- Alternatively, call GoldCore’s Bullion Services Team for advice and a quotation.
- When you are happy to proceed, simply transfer the required funds to your GoldCore account. You will receive an acknowledgement from us, stating that we have received your funds. Thereafter, you can make your online purchase. If you are not transacting online, then one of our bullion services team will call you to discuss your order and ensure that you are happy to proceed to the order stage of your quote.
- Funds lodged into your GoldCore account remain yours until you agree to proceed to the purchase stage. Up until the purchase transaction is executed, your funds remain in a segregated client funds account and, if you wish, you can have your funds returned to you.
Gold for My Company
Companies in the U.S. can avail of GoldCore’s complete suite of products, whether you want to take delivery of bullion at your company offices, invest through the Perth Mint Certificate Programme, or choose to store your bullion with us at our secure international storage locations in GoldCore Secure Storage.
The application process is simple. Please contact the Bullion Services Team to discuss your options.
Adding Gold to a Self-Administered Pension Plan
Gold can be added to certain Individual Retirement Accounts (IRAs) and Self Directed 401ks (Solo 401k). In practice, this is achieved by using special precious metals IRAs and specific Solo 401ks that are set up to include precious metals.
The rules on precious metals eligibility are governed by IRS tax rules, which allow certain precious metals coins and bars as eligible investments. This includes gold, silver, and platinum coins issued by the U.S. Mint, precious metals coins issued by other countries, and additionally, gold, silver, platinum and palladium bullion of investment grade quality.
Investment grade quality means 995 fine for gold, 999 fine for silver and 9995 pure for platinum and palladium, produced by refineries approved by the Comex as well as any refinery approved by other industry bodies such as the London Bullion Market Association (LBMA). The bullion has to be of a ‘fineness’ equal to or greater than the fineness specified by the US commodity exchanges.
A number of specialist IRA providers offer what is known as a precious metals IRA, or gold IRA that facilitate investment into precious metals. These providers will be well versed in IRS rules on investing in precious metals, and usually offer both trustee and administration services, as well as organizing precious metal storage at a number of well-known precious metals depositories in the country.
Solo 401ks can also invest in precious metals, but since the individual plan holder is the trustee of the plan, the self-directed solo 401k can only invest in the gold, silver and platinum American Eagle coins specified in the first part of IRS section 408(m) of excluded collectibles.
This is because other precious metals bullion has to be in physical possession of a trustee, which is either a qualified provider or a bank.