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Rather, any precious metals you buy in a gold IRA must meet the following specifications: Gold must be 99.5% pure. Silver must be 99.9% pure. Platinum and palladium must be 99.95% pure.
Don't let the promise of quick cash for your gold jewelry lure you into a bad deal from a buyer using an inaccurate scale. New Jersey's Office of Weights and Measures has cited 49 businesses for ...
A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars.
Pros and cons of gold IRAs: Top reasons to consider opening an account Pros. Tax advantages: Gold IRAs come with the same tax advantages that traditional IRAs do. Your money will be able to grow ...
Gold attracts various forms of fraudulent activity. Some of the most common are: Cash for gold – With the rise in the value of gold due to the financial crisis of 2007–2010, there has been a surge in companies that will buy personal gold in exchange for cash, or sell investments in gold bullion and coins.
International Gold Bullion Exchange was founded in 1979 by brothers William and James Alderdice. It grew to be reportedly the largest retail gold bullion dealer in the United States. [1] It offered sale and storage of gold and silver bullion and coins. The company would sell gold bullion at a discount if the buyer agreed to postpone taking ...
Scams targeting people aged 60 and older generated more than $3.4 billion in losses in 2023, according to the FBI Internet Crime Complaint Center Elder Fraud Report. That's up about 11% from 2022.
Consumers requested a pre-paid envelope known as a "Refiner's Pack", which was used to ship their gold materials or precious metals to the Cash4Gold refinery in Florida.A Cash4Gold employee weighed, photographed, and assessed the items using tools such as acids, X-rays, and electronic testing devices.