- 07 May 2023
- Precious Metals
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Investing in precious metals is beneficial because they hold their value very well. They are also not impacted by economic and market fluctuations, unlike stocks. These metals also hold a physical value in the form of coins, bars and bullion that can be traded.
Kingdom Talents Gold and Silver Investments is a company that was founded in 2011. Its main services include: buying, selling, trading, melting, casting and refining precious metals such as gold and silver. They assemble the industry's most prestigious team of experts to ensure customers have the best service possible.
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Background of Kingdom Talents Gold and Silver Investments
Kingdom Talents Gold and Silver Investments is a company that specializes in buying and selling precious metals such as gold and silver. The company was established in 2011 and has since been providing its services to clients interested in investing in these precious metals.
The company has a team of experienced professionals knowledgeable in gold and silver investments. They are likely to have a strong track record of managing investments and providing excellent customer service.
It is important to note that the Better Business Bureau (BBB) has not accredited Kingdom Talents Gold and Silver Investments. However, it is also important to note that the company has no customer complaints on the BBB website.
This indicates that the company provides excellent services to its clients. In addition, two 5-star reviews on BBB further attest to the company's reputation and commitment to customer satisfaction.
Kingdom Talents Gold and Silver Investments specializes in providing a wide range of precious metals products for investment purposes. These products are available to individual and institutional investors looking to diversify their portfolios with tangible assets.
Kingdom Talents offers a variety of gold coins, including American Gold Eagles, Canadian Gold Maple Leafs, South African Gold Krugerrands and Austrian Gold Philharmonics. These coins are typically minted by government or private mints and are made of 99.9% pure gold. Gold coins are popular among investors because they are easy to store, transport and trade.
The company also offers gold bars in various sizes, ranging from 1 gram to 1 kilogram. These bars are typically produced by reputable refineries and are made of 99.9% pure gold. Institutional investors often prefer gold bars because they are more cost-effective than coins for acquiring large amounts of gold.
Kingdom Talents offers a selection of silver coins, including American Silver Eagles, Canadian Silver Maple Leafs and Australian Silver Kangaroos. These coins are typically minted by government or private mints and are made of 99.9% pure silver. Like gold coins, silver coins are popular among investors because they are easy to store, transport and trade.
The company also offers silver bars in various sizes, ranging from 1 ounce to 100 ounces. These bars are typically produced by reputable refineries and are made of 99.9% pure silver. Like gold bars, institutional investors often prefer silver bars because they are a more cost-effective way to acquire large amounts of silver than coins.
Kingdom Talents also offers a selection of precious metals products that are eligible for inclusion in IRA accounts, including gold and silver coins and bars that meet the minimum purity and fineness standards set by the IRS. Investing in precious metals through an IRA can offer tax advantages and allow investors to diversify their retirement portfolios.
Other Precious Metals
In addition to gold and silver, Kingdom Talents also offers other precious metals products, including platinum coins and bars and palladium coins and bars. These metals are often used in industrial applications and their prices are influenced by supply and demand and global economic trends.
What Are Precious Metal IRAs?
A precious metals IRA is a self-directed IRA that allows investors to put their money into precious metals including gold, silver, platinum and palladium in physical form. Individuals may diversify their retirement savings with precious metals IRAs by including assets other than equities, bonds and mutual funds.
One of the significant advantages of a precious metals IRA is its self-directed nature, which gives investors more autonomy and control over their investments. A self-directed IRA allows the investor to choose which type and amount of precious metals they wish to invest in and the dealer or custodian that will hold the assets on their behalf.
This level of control enables investors to customize their portfolios according to their investment objectives, risk tolerance and personal preferences.
For instance, if an investor believes that the economy is heading for a recession and that the stock market will decline, they may allocate some of their retirement savings into precious metals to hedge against inflation and market volatility.
Alternatively, if an investor is bullish on the long-term prospects of precious metals, they may decide to invest a more significant portion of their portfolio into gold, silver or other metals to reap higher returns.
Why Invest in Precious Metal IRAs?
Investing in Precious Metal IRAs provides investors several benefits worth considering when planning for retirement.
Precious metals offer a way to diversify a retirement portfolio beyond traditional assets such as stocks and bonds. Diversification is important because it helps to reduce risk by spreading investments across different asset classes.
Precious metals are physical assets that investors can hold in their hands. This provides the comfort and security that comes with owning a tangible asset, unlike other retirement assets that may be more abstract.
Precious metals have historically held their value during inflationary periods, which can help protect the purchasing power of an investor's retirement savings. As the price of goods and services increases, the value of precious metals also tends to rise.
Potential for Long-Term Growth
Precious metals can increase in value over the long term, allowing investors to grow their retirement savings. The value of precious metals is affected by several factors, including supply and demand, global economic conditions and geopolitical events.
Protection Against Market Volatility
Precious metals can act as safe-haven assets during economic uncertainty or market volatility. This can provide a level of protection to an investor's retirement portfolio when other assets are experiencing fluctuations in value.
Precious Metal IRAs offer tax advantages that are similar to traditional retirement accounts. Contributions to the account may be tax-deductible and earnings within the account are tax-deferred until withdrawal. This can result in potential tax savings for investors.
Precious Metal IRAs are self-directed, which means investors have control over their investments. They can choose which types of precious metals they want to invest in and which dealers they want to work with. This level of control is not typically available with traditional retirement accounts.
Precious metals are recognized and accepted globally. This can give investors liquidity and flexibility when buying and selling their assets. Precious metals can be easily traded across borders, making them a versatile asset for investors.
Precious Metals IRA Account Options
Investors can choose from several Precious Metal IRAs, each with unique features and benefits.
Traditional Gold IRA
A Traditional gold IRA is a tax-advantaged retirement account that allows investors to invest in physical gold and other precious metals. The contributions to a Traditional gold IRA may be tax-deductible and the earnings within the account are tax-deferred until withdrawal.
When investors withdraw from a Traditional gold IRA, they will be taxed at their regular income tax rate. There are also required minimum distributions (RMDs) that investors must take after reaching age 72.
Roth Gold IRA
A Roth gold IRA is another tax-advantaged retirement account that allows investors to invest in physical gold and other precious metals. However, unlike a Traditional Gold IRA, contributions to a Roth gold IRA are made with after-tax dollars.
The earnings within the account grow tax-free and withdrawals are tax-free as well, as long as they are made after the account has been open for at least five years and the account owner is at least 59 ½ years old.
There are no RMDs for a Roth gold IRA, which means investors can leave their investments to grow tax-free for as long as they want.
SEP Gold IRA
A SEP gold IRA is a retirement account for self-employed individuals or small business owners. This account type allows owners to make tax-deductible contributions for themselves and their employees.
The contributions can be invested in physical gold and other precious metals, allowing small business owners to diversify their retirement investments while receiving tax benefits. Like a Traditional gold IRA, withdrawals from a SEP gold IRA are taxed as regular income and RMDs are required starting at age 72.
Setting Up Precious Metals IRA
Setting up a precious metals IRA involves several steps but is relatively straightforward. Here is a more detailed explanation of the steps involved.
🟧 Step 1: Research and Choose a Reputable IRA Custodian
The first step in setting up a precious metals IRA is researching and choosing a reputable IRA custodian. This financial institution is authorized to hold and manage IRA accounts on behalf of investors.
Choosing a custodian with experience handling precious metals IRAs is vital, as not all custodians offer this service. Some factors to consider when selecting a custodian include their fees, reputation and customer service.
🟧 Step 2: Complete the Account Application
Once you have chosen a custodian, you will need to complete an account application. The application will require personal information such as your name, address and social security number. You may also need to provide information about your employment status, income and investment objectives.
🟧 Step 3: Fund the Account
After your account has been opened, you will need to fund it. This can typically be done by transferring funds from an existing IRA or making a cash contribution.
If you choose to invest in physical precious metals, you will need to purchase them through a precious metals dealer and have them shipped directly to your IRA custodian. The custodian will then store the precious metals in an IRS-approved depository.
🟧 Step 4: Choose Your Investments
Once your account is funded, you will need to choose your investments. Precious metals IRAs allow investors to invest in physical gold, silver, platinum or palladium coins or bars. Some custodians may also offer the option to invest in ETFs or other securities that track the price of precious metals. Researching and understanding each investment option's risks and potential rewards is essential.
🟧 Step 5: Store Your Investments
Precious metals IRAs require the physical metals to be held in an IRS-approved depository. Your custodian will typically help you choose a depository and handle the logistics of shipping and storing your precious metals. The depository will charge a fee for the storage, which will be deducted from your account.
🟧 Step 6: Monitor and Manage Your Investments
Once your precious metals IRA is set up, monitoring and managing your investments is essential. This may involve rebalancing your portfolio, tracking the performance of your investments and making adjustments as needed.
It is crucial to remember that precious metals' value can be volatile and fluctuate based on various economic and geopolitical factors.
IRS Rules on Precious Metals Allowed in an IRA
The Internal Revenue Service (IRS) has specific rules regarding the types and purity of precious metals allowed in an IRA. In general, the IRS allows investors to hold physical gold, silver, platinum or palladium in an IRA, but there are some restrictions on the types and purity of these metals.
Firstly, the IRS requires any precious metals in an IRA to meet minimum purity standards. The coins or bars must be at least 99.5% pure for gold. For silver, the minimum purity requirement is 99.9%, while platinum and palladium must be at least 99.95% pure.
Secondly, the IRS has specific requirements for the types of precious metals that can be held in an IRA. The following are some of the most commonly accepted types of precious metals:
It is important to note that the IRS does not allow all types of precious metals in an IRA. For example, the IRS does not allow investors to hold collectible coins in an IRA, as these coins may not meet the minimum purity requirements.
In addition, the IRS does not allow investors to hold precious metals stored in their homes or a safe deposit box, as the metals must be kept in an IRS-approved depository.
Precious Metals Withdrawal Rules
When it comes to making withdrawals from a precious metals IRA, there are several rules and regulations that you must keep in mind as an investor.
Firstly, you can withdraw from your precious metals IRA once you reach the age of 59 and a half. This is known as the age of distribution. If you withdraw funds before this age, you will be subject to a 10% early withdrawal penalty and any taxes that may be owed on the withdrawn amount.
Once you reach the age of 72, you are required to take the required minimum distributions (RMDs) from your precious metals IRA. RMDs are calculated based on your age and the value of your IRA account. If you fail to take RMDs, you may be subject to significant penalties, which can be as high as 50% of the required distribution amount.
Understanding the tax implications of withdrawing funds from your precious metals IRA is essential. If you withdraw funds from a traditional precious metals IRA, the withdrawn amount may be subject to income tax, as it is considered taxable income.
If you withdraw from a Roth precious metals IRA, the withdrawal amount may be tax-free, provided the account has been open for at least five years.
It's also important to note that withdrawing physical precious metals from your IRA requires following specific rules and procedures to avoid triggering a taxable event. The precious metals must be transferred directly from the IRA custodian to an approved depository or storage facility and you must pay any applicable fees associated with the transfer.
This ensures that you don't take personal possession of the precious metals, which would be considered a distribution subject to taxes and penalties.
Kingdom Talents Gold and Silver Investments is a legitimate firm offering precious metals and IRA services. The fact that the company has good customer service is a positive sign, but the lack of customer reviews may raise some concerns for potential clients.
Additionally, the absence of BBB accreditation is worth noting as it raises questions about the firm's credibility.
Furthermore, the fact that the company does not disclose its prices on its website is another red flag. Price transparency is critical when investing in precious metals or an IRA. Clients may be susceptible to hidden fees without knowing the prices upfront.
It is worth noting that many other firms offer similar services with better customer reviews, BBB accreditation and transparency in pricing. Therefore, it may be better for potential clients to explore other options that provide better services in these areas.
If you are looking to invest, don't forget to checkout our highest recommended companies!
>> Click Here To See Our Top 5 Recommended Precious Metals Investment Companies <<
Currently our #1 recommendation is offering up to $10,000 in free silver!