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When you sell gold to us, we will explain every step of the process to help you understand how selling gold works. With your XRF Precious metals Analyzer, we can test your gold to know exactly what purity your gold contains. This helps us assess your gold to give you the most when you sell.
Scammer Targets Gas Station and Casinos:
There is a man going around to gas stations and casinos scamming people with fake gold necklaces and rings. The guy’s story at the gas station is that he is stranded and he needs to get back home. He has his family with him and he drives a nice SUV like an Escalade or similar. He offers the item of jewelry that he is wearing for the person to give him some cash so he can purchase gas. The item that he is willing to trade is marked either 14k or 18k in a big marking that you can read with the naked eye. The mark (or intended victim of the scam) then thinks that they are going to get this “gold” for a little amount and then be able to come into a business like ours and sell the item and make a profit. The items that they are selling are not gold. They are made up of copper, nickel, and zinc and contain no precious metals.
How to Stay Safe:
Beware of the warning signs to avoid getting scammed:
- Man with a story about being stranded or out of gas approaches you and asks for help
- Gas Station, Casino, or Similar Location
- Expensive SUV with others inside who are referenced as his Family
- He offers to give you a ring or necklace that he is wearing which is very clearly marked as 14k or 18k Gold
If you are the intended victim of the scam, politely decline to help the man. As soon as you are in a safe location, call 911 to report the crime and mention this article if needed.
Help spread the word by sharing this story with your friends and family.
Introducing the latest additions to our 2023 Christmas collection: the 2023 Santa Merry Christmas Round and the Happy Holidays Round, available in two delightful festive designs. These rounds come in a 1-ounce silver format with a purity of .999.
A Self-Directed IRA (SDIRA), sometimes called a Precious Metals IRA, allows you to use alternative assets for your retirement funds such as gold, silver, platinum, and palladium. Using an SDIRA over a traditional IRA has many benefits. And although in many ways, they work similarly to a regular IRA, there are a few key differences you should be aware of. Always talk to your financial advisor first to see if an SDIRA is a good option for your retirement plan.
Is Silver in a Self-Directed IRA a Good Investment?
Silver is often seen as a safe investment, because it has historically held its value well. Many investors believe silver is has the potential to spike upwards in value. While most investors place a mixture of gold and silver, along with platinum, into their SDIRA, there’s no law prohibiting you from owning one that contains only silver.
How They Work
A silver SDIRA requires that you actually purchase the physical assets, and then store it as part of the investment. Your custodian will manage your account and keep track of all of the assets that you include in your account. The professionals at California Gold and Silver will facilitate the purchase of these assets for your account.
Why You Should Choose an SDIRA
Precious metals, especially gold and silver, are a great option to choose as an asset for your SDIRA. There are many benefits you gain from using an SDIRA over a traditional IRA including:
- You can choose to use pretax or after-tax dollars through a special custodian or through your broker.
- The IRS allows you to purchase silver in any approved physical form to use as an investment.
- These accounts are separate from any regular IRAs you have set up.
- Silver and other precious metals act as a hedge against inflation.
- Silver and other precious metals hedge your retirement savings against market crashes.
These are just a few of the reasons choosing an SDIRA is a great way to invest in your future, and why using silver for your SDIRA is a great choice for your asset.
Linen bag of old pure silver coins used to invest in an IRA
What Are the Risks Involved
There are some risks involved when it comes to choosing an SDIRA and investing in precious metals in general. Some things to keep in mind are:
- The price of precious metals is constantly fluctuating.
- SDIRAs often carry higher fees than regular IRAs because they require you to purchase and store physical assets.
- The IRA puts a limit on annual contributions you can make to your SDIRA.
Keep these risks in mind when you are deciding if an SDIRA is right for you. You should always talk to your financial advisor or CPA before making any decisions about your finances.
Get Started with an SDIRA
You can easily get started with your SDIRA at California Gold and Silver Exchange. Or come into our office and fill out a form to start investing in your future. Be sure to talk to your financial advisor before making any monetary decisions.
