Lafayette, CO (PRWEB) May 13, 2009 — When a retirement investor wants to buy gold or other precious metals through their IRA, metals dealers frequently sell “proof coins” noting that proof American Eagles are specifically allowed by the IRS. These “proof coins” usually cost an additional 20-25% beyond the value of the coin itself and are not required for a self-directed IRA, according to Bill Humphrey, CPA and Vice President of Entrust New Direction IRA, Inc, a self-directed IRA/401(k) administrator. The investor may be having their IRA pay for the wrong proof.

No longer will retirement investors need to pay 20-25% extra. First State Depository, which provides precious metal storage, is now working with Numismatic Guaranty Corporation (NGC), the industry leader in coin certification, to offer a new service which provides proof of the metal content and purity of the coin for much less than the cost of “Proof” Gold Eagles.

Humphrey said, “People who buy gold with their IRAs are often not given the option of non-proof coins.” Often, the proof coin seems more valuable because of the description of a specialized minting process and the special mounting and special plastic capsule that the coin is shipped in. Humphrey explained, “Proof coins are not required for IRAs and often cost significantly more than the equivalent non-proof coin containing the exact same amount of metal. IRA owners investing in Gold coins with IRA funds should make sure they understand what they are buying.”

According to Humphrey, clients wanting the guarantee of gold content of the coins may want to look at a new service offered by First State Depository, a company which provides precious metal storage. First State is working with Numismatic Guaranty Corporation (NGC), the industry leader in coin certification, to offer a service which provides proof of the metal content and purity of the coin for much less than the cost of Proof Gold Eagles. (more…)

First State Depository Company, LLC, a private coin and precious metals depository company, announced that it has developed a relationship with Entrust New Direction IRA, a self-directed IRA administrator, to provide depository services for clients interested in holding gold and other precious metals in their self-directed IRA and other tax-sheltered plans.

First State and its owners have a long history of providing Secure Depository services for investors looking to take advantage of the long-term stability of precious metals investments. Entrust New Direction IRA, part of The Entrust Group, one of the nation’s largest self-directed IRA providers, administers a variety of IRA, 401(k) and HSA accounts, which can purchase precious metal investments.

Both First State and New Direction stress quick processing and reporting of both purchases and delivery. Speed in processing transactions and fast payment for completed orders is one reason metals dealers have enjoyed working with both New Direction and First State. First State’s standard procedures include sending confirmations of all metals received by 3:00 PM on the same day.

New Direction promises that orders will be funded within 48 hours of receipt of the delivery confirmation for outstanding orders. New Direction’s policies also limit the ability of an IRA to make a purchase until it has the funds available to spend, thus ensuring that the IRA will always be able to pay for its purchase.

With First State and New Direction, customer service is key. Both organizations are aware of the vital importance of accurate and timely transactions and reporting. “Speed and accuracy are the name of the game”, said Bill Humphrey, one of the principals of New Direction. “We keep our clients happy when they purchase precious metals so they’ll stay with us for all their future investments.” (more…)