Silver and Gold IRAs

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Some FAQs

"Can I put gold and silver coins I already own in my IRA?"

No; regulations concerning IRAs prohibit that.

"Can I hold the metals myself?"

No; regulations require that metals be held by an approved depository. Even GoldStar cannot hold the metals; consequently, GoldStar has arranged for HSBC Bank USAs precious metals depository to secure the metals.

"What is the maximum IRA contribution for 2008?"

The maximum contribution for 2008 is $5,000. However, taxpayers age 60 or older may contribute $6,000 annually. If you question the amount you may contribute, check with your tax advisor.

"When can I make my IRA contribution?"

You may make your IRA contribution anytime during the year for which you claim the deduction, or during the following year before you file your income tax form. If you file for an extension, you must make your contribution on or before April 15 of the following year.