Silver coins/rounds question

[roberth]

So apparently you can also set up an IRA with silver and gold you physically own? Read a bit about that tonight, and it confused the heck out of me.

Why buy metal through an IRA when you can buy it locally, take it home, and put it in your safe.

[Brian]

Why buy metal through an IRA when you can buy it locally, take it home, and put it in your safe.

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

[Irving]

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

Might be a lot more money to invest from an IRA than available cash.

[rockhound]

Yeah I wondered that too. I guess the point was that you could invest in metals instead of stocks in your IRA? Seemed weird to me as well.
It was pointed out to me that you owe taxes on that silver and gold in your safe when you sell it and make a profit, so maybe that's why the IRA is used...?

Only over a certain amount would you owe taxes, silver in the safe can be traded, if it is foreign currency cannot be recalled, the ira gives you a tax deduction but makes all your metals taxable and traceable