What You Need to Know About Gold Buffalo Coins and Other Gold Bullion

You’ve probably heard a lot about the gold Buffalo Coin and other gold bullion. You may have even heard that you can create a gold-backed IRA and fund it with the gold Buffalo Coin (among others). If so, you’ve heard right.  But if you’ve never invested in gold or created a gold-backed IRA before, then you probably have questions.  Here are your answers…

Do you need to be a coin collector to purchase gold Buffalo Coin and other gold coins?

No.

People who invest in common coins like the gold Buffalo Coin, the Gold Eagle, the Canadian Maple Leaf and similar gold coins aren’t doing it because they like collecting coins – they’re doing it because these coins are a convenient way to carry and store gold.  Thus you don’t have to know anything about coins like the gold Buffalo Coin in order to invest in gold.

What is a gold-backed IRA?

The United States IRS allows people to create gold-backed IRAs (individual retirement accounts) by investing in real gold. So instead of merely having stocks in gold-mining businesses, you’ll have real gold sitting in a repository.  More information about creating gold backed IRA can be read here http://www.57gold.com/gold-and-silver-resources/how-to-create-a-gold-backed-ira.

 

Acceptable coins for your gold-backed IRA include the gold Buffalo Coin, the US Gold Eagle, the Austrian Philharmonic coin, the Canadian Maple Leaf and the Australian Kangaroo gold coin. You can also create your gold IRA by buying gold bars and other bullion.

However, do note that you need to follow these two rules when creating a gold-backed IRA:

·         The gold in our gold IRA must be .999 pure.

·         You can’t add your existing gold to your gold IRA.  So, for example, if you have gold Buffalo Coins already in your possession, you can’t add them to your gold-backed IRA. Instead, you’ll need to buy gold Buffalo Coins from an approved gold seller like 57Gold.com and direct them to put the coins into your gold-backed IRA.

Do I take physical possession of the gold?

If you’re creating a gold IRA, then the gold will be stored in a trusted repository. However, if you’re investing in gold that’s not going to be used in a gold-backed IRA, then yes… you can take physical possession of it.  You can store your gold Buffalo Coin rolls at home or in the safe repository of your choosing – it’s up to you.

Where can I buy the gold Buffalo coins and other bullion?

You need to go through the trusted companies to get them. Check them out right now, because they have the precious metals and all the answers you need to start investing in gold, silver or platinum right away.