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Tuesday, October 25, 2016

Opening a Precious Metals Ira? Here’s 3 Questions You Need To Ask

Precious metals IRAs are exceptional vehicles for protecting your retirement savings. However, it is still important for you to act as your own advocate. Make sure you ask these questions before you open a precious metals IRA.
Having a diversified retirement portfolio is generally considered a sound financial decision, and gold IRAs offer additional security, since many investment options for conventional IRAs have tremendous inflation vulnerability (gold prices tend to run in the opposite direction of stocks and bonds). Nevertheless, many brokerage firms don’t offer gold IRAs because it’s such a specialized area within the world of finance. Here are some questions you need to ask before considering a gold IRA.

How much does a gold IRA cost?

Generally speaking, the fee structure for gold IRAs is significantly less complicated than they are for standard IRAs, but it is nonetheless crucial to understand what that will mean for you, the account holder. The prices for precious metals IRAs vary, but they exist to cover expenses such as insurance, storage, and account access. Make sure your firm delineates the exact costs of your IRA, so that you don’t have any unpleasant surprises later on.

Do you have all of the appropriate certifications?

When it comes to gold and precious metals, it is extremely important to know if your custodian and depository have all of the proper qualifications and insurance. You don’t want to work with any companies that won’t prioritize the protection of clients’ investments. Make sure your transaction is insured.

Where are my metals stored?

While you might want to take custody of your precious metals and store them in your own home, most experts will tell you that this is a very gray area of the IRS code, since a third-party must verify the value of the metals and report it to the IRS. In order to comply with the IRS, the account holder must adhere to an elaborate network of regulations, or risk losing approximately 35 percent of the value of your savings. The facility where your precious metals are stored must be secure, private, and IRS-approved.
For more information on buying precious metals or opening a precious metals IRA, contact the professionals at Birch Gold Group.

Can You Rely On Social Security? Probably Not


Social Security—the supposed retirement-years safety net—is becoming less and less reliable as the population ages. What can you do?


While Social Security never provided a luxurious retirement, in years past it was—at least—a fairly reliable safety net for retirement-aged persons. However, its reliability has diminished significantly as the workforce erodes and alternative retirement funds gain favor. Although the vast majority of beneficiaries rely upon Social Security as the bulk of their income, it has been predicted that Generation X and millennials will receive significantly reduced payments when they reach retirement age.

So, how can you make sure that you won’t receive the short end of the Social Security benefit stick?

Don’t wait until middle-age to think about retirement savings.

How many of us concern ourselves with retirement when we’re in our 20s? Nevertheless, if you can start planning for your future when you’ve just graduated from school, your savings will have ample time to generate gains.

Don’t claim benefits early.

The longer you wait to claim your benefits, the more you’ll get. People who claim their Social Security benefits at age 62 (while continuing to work) permanently reduce their benefits by approximately 30 percent.
Waiting as long as possible makes fiscal sense. If you can wait, you can increase your payout by 8 percent annually. Ideally, try to wait until age 70. (Unless, of course, if you have medical conditions that prohibit you from waiting that long.)

Think about supplementing your retirement with tangible assets.

Do your absolute best to take your future needs into account. As we age, we have medical conditions, lifestyle obligations, and familial responsibilities that become increasingly difficult (if not impossible) to negotiate on reduced income. Tangible assets – such as income-earning property, real estate, and precious metals – provide an alternate source of security that can diversify your savings.
If you have questions about how physical gold can fit in to your retirement savings, contact the experts at Birch Gold Group to discuss your options.

Wednesday, September 14, 2016

Why Precious Metals Should Be In Your Retirement Portfolio

If you haven’t given much thought about your retirement portfolio, then you should definitely start by considering precious metals.

If you plan on retiring—which most of us do—then you’d be well advised to give the contents of your retirement portfolio some serious consideration. Your strategy should be flexible enough to adjust for income fluctuations and variable market conditions, and precious metals offer the kind of dynamic stability that can help you meet many economic challenges.

Precious metals, particularly gold and silver, provide measurable growth opportunity and can also help to protect the rest of your savings from any economic downturns. Gold and silver are widely considered safe haven assets. This is because neither commodity can actually be manufactured by a national bank, so government policies don't directly influence their value. This being the case, they can help to act as a counter to other assets in your retirement savings.

Moreover, if you purchase gold and silver for an individual retirement account with pre-tax income, your tax burden will be lower than if you were to purchase precious metals outside an IRA.

Ultimately, your physical precious metals are yours to do with as you choose. You can keep your holdings at the storage facility you select; withdraw your gold or silver and hold it in its actual physical form; or have a check of its market value drafted.

If you are considering purchasing precious metals through a precious metals IRA, please contact the experts at Birch Gold Group for a comprehensive consultation today.

Thursday, August 25, 2016

Precious Metal Maintenance: Part 2. Cleaning Your Coins

Precious Metal Maintenance: Part 2. Cleaning Your Coins

Although you certainly shouldn’t clean your gold bullion or precious metal coins too frequently, there may come a time when you want to make sure they’re free of debris. Here is how to do it properly.

Numismatic coins should never be cleaned unless under very particular circumstances—cleaning coins in an attempt to remove tarnish will only devalue them in the long run, and once cleaned, coins can never be “uncleaned.” While it isn’t advisable to clean your gold or precious metal bullion on a regular basis, it is important to preserve them carefully and effectively. If you ever feel the need to clean your coins, make sure you follow these guidelines.

Only “clean” coins that have PVC residue. Polyvinyl chloride, or PVC, used to be a component in plastic coin holders. Although PVC use has been largely discontinued, there are still some coins in circulation that have PVC deposits. PVC will corrode your coins, and must be carefully removed with acetone. In a well-ventilated room, pour ½ oz. of acetone in a glass container, and using protective gloves, carefully place the stained coins in the solution and allow to soak for approximately one minute. Remove the coins and gently blot dry thoroughly. 

Don’t attempt to aggressively clean your gold coins.  Gold is an inert metal, so it will never oxidize or discolor the way silver and copper will. You will likely never encounter a circumstance where you legitimately need to clean your unalloyed gold bullion coins. If they are covered with dust or some debris, simply brush them lightly with a microfiber cloth.
 
Do not simultaneously handle tarnished and pristine metals. Wiping tarnished and pristine metals with the same cloth could cause cross-contamination. Make sure you always handle them separately.
 
Never leave any moisture on your coins. Moisture can cause discoloration in silver or alloyed coins that cannot be removed without risk of serious damage. Even humidity and the moisture from your breath can stain them. 
 

If you are interested in purchasing gold bullion or other precious metals for your portfolio, please contact the specialists at Birch Gold Group for a consultation.

Thursday, August 18, 2016

5 Tips for Ensuring You Get the Most for Your Gold Coin Collection

5 Tips for Ensuring You Get the Most for Your Gold Coin Collection

If you’ve inherited a collection of gold coins with mint dates prior to 1933, you might not be fully aware of all of the factors that could affect their overall worth. Here are five issues you should take into consideration.

Coin collections are a rare and fun find. If you’ve stumbled upon a collection in a flea market, or if you’ve inherited a set from a relative, here’s how you can find out if their monetary value meets or exceeds their sentimental value.
  • Know their condition. If the coins were minted before 1933, the grade of the coins—which range from “good” to “mint”—are instrumental in determining their resale value. If your coins exhibit minimal wear and appear to have their original luster, you might want to investigate having your collection graded by a certified coin grading service.
  • Determine their rarity. Knowing how many of your coins were originally minted, and what their condition is compared to their counterparts, is essential to assessing their value. There are two classes of coin rarity: Grade and mintage. Grade rarity can be difficult to evaluate; basically it weighs the condition of your collection against what would be expected. Mintage rarity is the number of coins originally produced.
  • Research their demand. If collectors want your coins, their value is going to be high. Periodically check online coin auctions for selling prices.
  • Assess the coins’ design. Coins that are exquisitely designed are typically valued very highly. If your coins are exceptionally beautiful with a high quality strike, they could be worth more than some rarer coins.
  • The price of precious metals. Of course, if the price of gold is on the rise, the value of your gold coin collection will be affected. Even if your collection doesn’t have particularly high numismatic value, you could get the market bullion value.
While the satisfaction of having a beautiful collection of coins is often its own reward, it doesn’t hurt to take steps to ensuring their market value is equally high.

Wednesday, June 8, 2016

Bullion or Numismatic Coins | BirchGold.com

Bullion or Numismatic Coins: Which is the Best Buy?


If you're not familiar with the precious metals market, you might not be aware that there are important distinctions between bullion coins and numismatic coins.
Those who are somewhat new to precious metals ownership may be confused as to the fundamental difference between bullion coins and numismatic coins. Both are highly prized by collectors and investors—should buyers consider purchasing both?
Not unless they understand precisely what they're getting. Here are the basic differences:

Bullion Coins

Bullion coins are either gold, silver, platinum, or palladium coins that are purchased either for investment purposes, or as an inflation hedge. With some exceptions, they are manufactured yearly by government mints. Their weight is carefully calibrated into specific increments. For example, you will often find gold coins that are available as a single ounce, half ounce, quarter ounce, 1/10 ounce, or grams. If you purchase bullion coins from a reputable dealer, you are getting a particular weight of a refined precious metal.
Types of bullion coins include:
  • United States Eagles (Gold, Silver, or Platinum)
  • Canadian Maple Leafs (Gold, Silver, Platinum and Palladium)
  • South African Krugerrands (Gold)
Although these coins are purchased specifically for their precious metal content, many collectors enjoy owning beautifully and intricately stamped minted coins.

Numismatic Coins

Unlike bullion, numismatic coins are not just valued due to their precious metals content, but also because they are no longer being produced and are therefore quite rare. They are also valued based on their condition. Such coins might include:
  • St. Gaudens Double Eagles
  • Indian Head Eagles
  • Peace Silver Dollars
The study of historic currency is certainly fascinating and fun—it's definitely rewarding to find a rare penny in your change purse! However, if you're looking to purchase precious metals, it is important to consider the difference in how bullion and numismatic coins are valued so that you can select the products that are best suited for your needs.

Tuesday, June 7, 2016

Gold and Silver: Rare Commodities Made More Accessible To Small Buyers

A balanced mix of assets prevents a significant reduction in net worth due to unforeseen circumstances. Stocks, bonds, and real estate comprise most investment portfolios. Over the past few decades, however, there has been a sudden surge in demand for physical precious metals. The most popular ones are, of course, gold and silver. Known for their high market values and rarity, gold and silver are used in numerous ways. 

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Image source: wikia.com
Gold

Gold has always been the universal symbol of wealth. From the ancient times to present, it has consistently been used as a gauge for monetary values. Physical gold includes bars and coins and are available in small amounts, which makes it accessible even to small private buyers. Similarly, physical gold can be in forms of jewelry, which are relatively easy to buy and sell and tend to have stable market prices. Non-physical gold can also be bought in the form of stocks (mining companies, jewelry manufacturers, etc.), but they could be more vulnerable to market fluctuations. 

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Image source: indiatimes.com
Silver

Although not as precious as gold in terms of value, silver is a top choice for industrial and medical manufacturers. Buyers are driven by its huge demand and its superior accessibility. Although the silver market is much smaller, it doesn’t take as much money to invest in silver. With the level of demand and over 3,000 industrial uses, it is not difficult to move up the market. Just like gold, silver is available in various forms: unallocated silver pool investments, silver mining stocks, silver futures contracts, and physical silver. 

For a safe and secure purchase of physical precious metals, get assistance from Birch Gold Group. Visit this website for more information on the benefits of owning physical metals.