Gold and silver backed IRAs are similar to standard IRAs, except a precious metals IRA gives you the freedom to diversify your portfolio with physical gold and silver.

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In a few simple steps, a Reagan Gold Group Commodity Specialist will walk you through the application process. Your current provider sends a check or wire transfer to the custodian of your choice, where the funds are deposited into your account. As long as this process is complete within a 60-day timeframe, there will be no penalties or taxes.

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The process is simple. It can take 24 to 48 hours to open the account. A transfer from your current custodian to fund the account, however, could take up to a week. Cash contributions move more quickly to fund the account.

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Gold, silver, platinum, and palladium are allowed in precious metals IRAs provided they meet the following requirements: Gold 99.5%, Silver 99.9%, Platinum 99.95%, Palladium 99.95%.

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Gold, silver, platinum, and palladium are allowed in precious metals IRAs. The minimum amount you can invest in a precious metals IRA is $25,000 rollover and $10,000 minimum for cash purchases. They meet the following requirements: Gold 99.5%, Silver 99.9%, Platinum 99.95%, Palladium 99.95%.

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