Changing the Composition of Your Precious Metals IRA

Changing the Composition of Your Precious Metals IRA

August 6, 2010 53 view(s)

What if you decide you want to change the makeup of your Precious Metals IRA?

Perhaps you want to increase the percentage of silver or change the overall makeup of gold coins in your Precious Metals IRA. Thankfully that process is simple. However, keep in mind that you will be paying for shipping costs when you go through this process, so it isn’t something you’ll want to undertake regularly.

First, make sure you have enough funds in your IRA to cover shipping costs. After you do this, contact the U.S. Gold Bureau with your Self Directed IRA Services, Inc. account number and social security number.

The next step is to sign the Optional Authorization Change Form and send it to Self Directed IRA Services, Inc. This form makes it so that the U.S. Gold Bureau is able to exchange your funds for precious metals without you needing to sign individual invoices each time.

When you speak with a representative at the U.S. Gold Bureau, let them know what you would like to change. Again, you will first want to familiarize yourself with the restrictions on what can go into your Precious Metals IRA. Then you can tell the U.S. Gold Bureau which coins, including the year and ounce, to send to Self Directed IRA Services, Inc. and which coins—again including the year and ounce—you want sent to the U.S. Gold Bureau from your existing Precious Metals IRA.

You will receive an exchange invoice from the U. S. Gold Bureau, which you’ll then want to sign and send to Self Directed IRA Services, Inc. They’ll ship the precious metals they were storing for you to be exchanged by the U.S. Gold Bureau, who will ship your new choices back.

That’s all there is to the process. If you have any questions, feel free to contact us and speak with an IRA Specialist. You can call our IRA Hotline at 800-775-3504.