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About Seven Star Enterprises International

Seven Star Enterprises International is a precious metals dealer in Minneapolis, Minnesota. The company was founded in 2003 and specializes in buying and selling precious metals, particularly gold, silver and platinum. The company's management team comprises industry experts with decades of experience in the precious metals market.

Seven Star Enterprises International is accredited by the Better Business Bureau (BBB) and holds an A+ rating. The company has been accredited since 2006 and is consistently committed to ethical business practices.

This includes providing transparency in its operations and resolving customer complaints promptly and satisfactorily. The company has an excellent reputation for customer service and is known for providing expert advice and guidance to its clients.

In addition to its strong BBB rating, Seven Star Enterprises International has a strong online presence, with several positive reviews on various platforms, including Google and Yelp.

These reviews highlight the company's expertise, professionalism and commitment to customer satisfaction. This is a testament to the company's dedication to providing high-quality products and services to its customers.

Seven Star Enterprises International offers its customers various products and services. The company specializes in buying and selling gold, silver, platinum bullion, rare coins and numismatics.

The company also offers IRA services, allowing customers to invest in precious metals using their retirement funds. Seven Star Enterprises International is known for its competitive pricing and ability to source high-quality products worldwide.

Product Offerings

Seven Star Enterprises International offers a wide range of precious metal products, including gold, silver, platinum and palladium. The company sources these metals from trusted suppliers and mints, ensuring their quality and authenticity.

For gold, Seven Star Enterprises International offers American Gold Eagles, Canadian Gold Maple Leafs, South African Krugerrands, Australian Gold Kangaroos and gold bars from reputable mints such as PAMP Suisse and Credit Suisse.

The gold coins are available in various sizes ranging from 1/10 oz to 1 oz, while the gold bars range from 1 gram to 1 kilogram.

Similarly, the company offers a variety of silver products such as American Silver Eagles, Canadian Silver Maple Leafs, Austrian Silver Philharmonics and silver bars from reputable mints such as PAMP Suisse and Sunshine Minting. The silver coins are available in sizes ranging from 1 oz to 10 oz, while the silver bars range from 1 oz to 100 oz.

For platinum and palladium, Seven Star Enterprises International offers coins such as American Platinum Eagles, Canadian Platinum Maple Leafs, Australian Platinum Kangaroos and bars from reputable mints such as PAMP Suisse and Credit Suisse. The platinum and palladium products are available in various sizes ranging from 1/10 oz to 1 oz.

Seven Star Enterprises International also offers IRA-eligible precious metals, making it a viable option for investors looking to diversify their retirement portfolios. The company provides IRA-approved gold, silver, platinum and palladium coins and bars, allowing investors to hold physical precious metals in their retirement accounts.

Pricing

Seven Star Enterprises International does not provide specific information about its pricing structure for buying and selling precious metals. This lack of transparency may cause some potential customers to feel uncertain about using the company's services.

However, Seven Star Enterprises International does offer real-time prices for gold, silver and platinum on its website, which can be helpful for customers looking to stay up-to-date on market trends and fluctuations in precious metal prices.

It is important to note that the prices listed on the website are subject to change and may not reflect the actual price customers will pay when buying or selling precious metals through the company.

Customers should contact Seven Star Enterprises International directly for more information about pricing and fees associated with its services.

Why You Should Invest in Precious Metals

Precious metals have been valuable commodities for thousands of years. These metals are rare, durable and have industrial uses, making them valuable assets for investors.

What Is Precious Metals IRA?

A precious metals IRA allows you to invest in physical precious metals such as gold, silver, platinum and palladium. The concept of precious metals IRAs was introduced in 1997 when the Taxpayer Relief Act was signed into law.

The Act enabled investors to hold physical precious metals as part of their retirement portfolio within a tax-advantaged account.

Before this law was enacted, individuals could only invest in traditional assets such as stocks, bonds and mutual funds through their IRAs. This meant that investors had no direct means of investing in precious metals within their retirement accounts.

The introduction of precious metals IRAs was a game-changer, as it allowed investors to diversify their retirement portfolios and protect their wealth against inflation and market volatility.

Choosing the Right Precious Metals Dealer

Choosing the right precious metals dealer is crucial for ensuring that you get the best value for your money. With so many dealers, deciding the right fit for your needs can be overwhelming.

This section will discuss the factors to consider when choosing a precious metals dealer.

U.S Regulations on Precious Metals IRA

The Internal Revenue Service (IRS) sets the regulations for precious metals IRAs in the United States. These regulations specify the types of precious metals eligible for investment in an IRA and the rules for managing the investment.

Firstly, the IRS requires that the precious metals in the IRA be held by a custodian, an entity authorized to hold assets on behalf of an individual or organization. The custodian must be an IRS-approved entity and it is responsible for safekeeping the precious metals.

Secondly, the IRS specifies which types of precious metals are eligible for investment in an IRA. Only certain types of gold, silver, platinum and palladium are eligible and they must meet certain requirements for purity and weight.

For gold, the IRS requires that the gold must be at least 99.5% pure and in the form of coins or bars. The coins must be minted by a government or a licensed manufacturer, while the bars must meet the London Bullion Market Association (LBMA) standards.

The silver must be at least 99.9% pure and in coins or bars. The coins must be minted by a government or a licensed manufacturer, while the bars must meet the standards set by the LBMA or the New York Mercantile Exchange (NYMEX).

For platinum and palladium, the IRS requires that the metals must be at least 99.95% pure and in the form of coins or bars. The coins must be minted by a government or a licensed manufacturer, while the bars must meet the standards set by the NYMEX.

Finally, the IRS sets rules for managing the investment in precious metals IRA. The investor must ensure that the custodian holds the precious metals and cannot take physical possession of the metals. Additionally, the investor must follow the IRS rules for contributions, distributions and taxes.

Getting Started with Precious Metals IRA

Setting up a precious metals IRA is easy. Here's how to get started:

Withdrawing from Precious Metals IRA

When withdrawing from a precious metals IRA, the rules are similar to those of traditional and Roth IRAs. The IRS generally allows individuals to begin taking penalty-free withdrawals from traditional and Roth IRAs after age 59½.

However, if you withdraw funds before this age, you may be subject to a 10% early withdrawal penalty in addition to regular income taxes.

For traditional IRAs, individuals must begin taking required minimum distributions (RMDs) at age 72, regardless of whether they need the funds. Failure to take the RMDs can result in a hefty penalty of up to 50% of the amount that should have been withdrawn. Roth IRAs, on the other hand, do not require RMDs during the owner's lifetime.

For precious metals in an IRA, withdrawals can be made as physical metal or cash. However, it's important to note that the IRS requires that the metal be valued and sold at the current market price at the time of withdrawal.

This means that if the value of the metal has increased since it was initially purchased, the investor will owe taxes on the gains. On the other hand, if the value has decreased, the investor may be able to deduct the loss from their taxes.

Withdrawals from a precious metals IRA can be more complicated than withdrawals from a traditional IRA, as the value of the metal may need to be appraised by a third party to determine its current market value.

Additionally, investors may need to work with their custodians to sell the metal and transfer the funds back into their accounts before they can withdraw.

Final Thoughts

Seven Star Enterprises International is a reliable and trustworthy dealer of precious metals. With over 18 years of experience, it has built a good reputation in the industry, as evidenced by its A+ rating from BBB and positive customer reviews.

However, it is important to note that other top-recommended firms offer better services at more affordable prices. As with any investment decision, it is crucial to research and compare different options before making a final decision.

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!