@Ben549 wrote:
I will not remove money from my account. I would be doing a direct transfer to a precious metals IRA and plan to leave it there for years. When I take possession of the coins, I would be removing money from my IRA, and have to pay taxes. Correct ?
That's also where you need to talk to a pro. I have seen advertisements that claim you can hold your own gold even if it is in an IRA. (But I've also seen advertisements the the amazing secret rice diet that burns 10 pounds of fat overnight, so ¯\_(ツ)_/¯)
I agree that if you do a rollover or direct transfer from IRA #1 (at your regular bank) to IRA #2 (a precious metals IRA that holds gold in their own vault) then the rollover or transfer is not taxable. It would only be taxable if you withdrew either the coins or the cash value from IRA #2.
