How Do You Liquidate A Gold IRA?
It’s only logical for smart investors to eventually inquire about liquidating their gold-backed IRA when the time comes, so the following is a brief overview on IRA liquidation options.
Each individual investor has the power to freeze the price of his or her gold holdings, by notifying the gold broker of their choice. It mustn’t necessarily be the same broker that investors purchased their gold from, although the option remains his or hers.
The notified gold broker will then fax an invoice to the IRA holder for them to sign, and once the broker receives the returned, signed invoice, he or she will notify the particular gold holding company of the gold sale. Once the gold transaction is completed between the gold broker and the IRA holding company, the appropriate funds will then be transferred directly into the respective IRA holder’s account. NOTE: Investors do not receive their funds directly “in hand” after the gold transactions. The money from the gold sale goes into the still existing IRA, which naturally poses penalties for early withdrawal.
Another option that gold-backed IRA holders have, is to directly take physical possession of their bullion bars, coins, and proof coins, and sell them independently on the gold market. This option is generally reserved for highly experienced precious metals traders, as effectively liquidating precious metals should generally be left to the professionals.
Equity Institutional and Self-Directed IRA Services (SDIRA) are approved to facilitate gold IRA purchases and liquidation, and you should always conduct a thorough background check on any potential gold broker before business is done.
Investors who complete their research are encouraged to contact one of our friendly specialists, who offer institutional discounts on gold bullion bars, coins, and rare coins, to household investors like you.