ICTA (The Industry Council for Tangible Assets) has learned from the Internal Revenue Service that it would be prudent for investors NOT to include the Proof version of the US Gold Buffalo Coins in IRAs or other self-directed retirement accounts. This recommendation comes from a recent conversation ICTA had with an IRS official from the Employee Plans Technical Group. ICTA member dealers have been requesting clarification as to whether the new US Buffalo Coins are permitted in IRAs.

Although both Proof and Uncirculated Buffalo Coins meet the technical fineness and metal content criteria in the 1997 Taxpayer Relief Act, this law refers to allowable products as being “bullion” only. The U.S. Mint’s own website states that the Uncirculated Buffalo is a bullion coin, while the Proof is a collector coin. (more…)

Fallbrook, CA (PRWEB) September 24, 2007 — Investors are urged to become knowledgeable before purchasing gold bullion coins as a financial investment. The consumer education and protection advice is from the Professional Numismatists Guild (www.PNGdealers.com), a nonprofit organization composed of the country’s top rare dealers and experts.

“If you don’t know your bullion coins, you’d better know your bullion coin dealer to help you make responsible decisions,” advises Gary Adkins of Edina, Minnesota, PNG President. “To make an informed purchase about gold, silver or platinum, investors need to be aware of three crucial marketplace factors: The actual cost per ounce of precious metals; bullion value versus collector value; and timely delivery of merchandise.” (more…)