Q: How do I acquire precious metals with my IRA?

A: To direct New Direction to purchase precious metals with the funds in your IRA, you would:

  1. Open an IRA with New Direction IRA, Inc. (download an application)
  2. Fund the new IRA with a transfer of existing IRA funds, a rollover of old 401(k) funds, or an annual IRA contribution.
  3. Once the IRA is opened and funded, the client will work with a precious metals dealer of their choice to determine the precious metals that will be purchased, the price and the terms.
  4. Client will direct New Direction to purchase the precious metals by completing a New Direction Buy Direction Letter.  Please note the Buy Direction Letter should be accompanied by an invoice/buy order from the dealer showing what the IRA is purchasing and the client’s approval of that invoice/buy order (signed by client as ‘read and approved’).  Also included should be the wire instructions for the dealer, and depository agreement. (both should be signed by client as ‘read and approved’)
  5. New Direction IRA, Inc typically funds investments within 48 hours of receiving the completed investment paperwork.
  6. Once purchased, the metals will be shipped to the clients account at the depository.
  7. New Direction IRA, Inc provides ongoing administration for the IRA assets.