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My Private Bullion started operations in 2012. It is a precious metals investment company offering a wide range of platinum, palladium, silver, and gold products. They also sell coins and bars approved for IRA.
The company doesn’t list the product pricing on its website and there isn’t much information available about the management team.
However, there are very few companies that offer rhodium for purchase and they are one of those few companies.
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About My Private Bullion
The company claims to be an industry leader in providing physical platinum, palladium, silver, and gold for IRA or other retirement accounts. With these precious metal IRA accounts, you also get the tax benefits and there are no penalties.
Their specialization is in providing superior strategies to their clients for protecting their wealth as well as diversifying their retirement accounts with gold IRA and other precious metals.
My Private Bullion's Goal
The company claims that its goal is to make sure its clients have the necessary knowledge and power to become financially prosperous and achieve peace of mind.
They claim to offer customized investment strategies for their clients that are designed to grow and protect their wealth.
The company offers a variety of customized solutions for their clients when it comes to their retirement accounts.
These solutions are designed considering a variety of factors including world economics, market condition, social economic problems, diversification, liquidity, and age.
You will find three types of gold on offer for sale numismatic, collectible, and bullion. They also advise clients on minimizing taxes when it comes to distribution. Their main concerns in this operation are transparency and privacy.
They happen to be the only company that claims to offer their clients a complete invoice that also includes the pricing and description of the coins before they get any money from the gold IRA custodian.
Products on Offer
They currently sell coins and bars made of platinum, palladium, silver, and gold. They also offered rhodium for sale. Investors have the option to include a variety of eligible products allowed by IRA in their retirement accounts.
The products that can be included in retirement accounts include:
What are Numismatic Coins?
The value of a numismatic coin is the price one can reasonably expect to get by selling an uncirculated, circulated, or proof coin.
The fair market value of a numismatic coin is generally determined based on its condition, scarcity, supply, and demand. Some coins have a high issue rate but still have a high price due to an increase in demand.
Also, these coins keep growing in value as it is becoming harder to find numismatic coins.
As far as the condition of a coin is concerned, experts rate them on a scale of 1 to 70 following a specific set of guidelines. Coins that are given a grade of 70 are generally considered completely flawless.
Another factor that determines the numismatic value of a coin is its supply. Certain factors such as political unrest, economic instability, or hoarding may cause a supply disruption that results in higher prices.
The demand for a coin may be driven by several characteristics such as its history, availability, and quality.
What is Gold Bullion?
While numismatic coins are valued for factors other than the precious metal content inside, bullion is a term used for items where the value is derived from the content of precious metal in the item.
A common example of bullion would be a gold bar whereas you won’t term a silver ring as bullion. Commonly known forms are coins, ingots, and bars.
When it comes to gold bullion, it typically means physical gold in the form of coins or bars. There was a time when the preferred way to hold gold bars was in the form of legal tender gold coins.
It was easier to trade or sell these coins as compared to nuggets or gold bars. That is how the gold market worked until gold bars were specifically developed by famous refiners for investment purposes.
Today, you can buy sealed gold bullion bars ranging in size from just 1 g to 1 kg as well as 1 top a thousand troy oz. In terms of its size, the kilo bars are typically the biggest size available for sale to retail buyers.
The only type of gold that is accepted in a gold IRA account is bullion.
The Private Gold Solo 401k
It became possible because there were certain changes made in the tax code in 2001 and 2006. Congress introduced these changes to get rid of many costly and cumbersome rules and regulations surrounding reporting.
This led to the birth of this particular product. This investment account included higher contribution limits, an additional Roth component along with simple reporting and compliance as well as relaxed administrative requirements.
Since business owners could be their trustees, it allowed small business owners and self-employed to invest in gold as it was more affordable, manageable, and accessible.
Precious Metals IRA Explained
You must be aware of the traditional IRA and 401(k) accounts. These are retirement accounts where investors can choose to invest in stocks, index funds as well as a variety of other investments.
In most cases, these retirement accounts are not allowed to put their money in gold and this is why you need to invest in gold.
These are specialized retirement accounts that can be used to hold various precious metals including palladium, platinum, silver, or gold.
All the other things are similar to traditional retirement accounts which means there are pretax contributions as well as similar contribution and income limits.
The only difference is that these accounts are allowed to hold physical precious metals which is not the case with traditional accounts. When any precious metal is bought through a gold IRA, it needs to be stored outside the home with a proper custodian and in a completely secure depository.
There are several benefits of investing in gold IRA accounts when it comes to achieving your retirement goals. Paper assets don’t even come close to gold when it comes to stable growth and it also allows you to diversify your portfolio while lowering volatility.
There are some unique tax benefits applicable to gold IRAs. All the gains and contributions are not taxable and, in many cases, the contributions you make may be eligible for tax deductions.
Overall, a gold IRA is an excellent option if you want a stable and diversified portfolio.
A gold IRA rollover is also an option where funds are transferred from an existing IRA to a new gold IRA.
What is a Self-Directed IRA?
It’s the type of account where individuals can save money for retirement by investing in some alternative assets. The individual account owner has complete control over where their money is invested.
With a self-directed IRA, you get access to a variety of alternative assets such as private company stock, real estate investment trusts, limited liability companies, limited partnerships, notes, and various other assets.
Self-Directed IRA Benefits
It is a great way to build wealth for the future. This retirement account comes equipped with many tax advantages and you also have the freedom to choose the type of investments.
It offers a lot more choices as compared to traditional IRAs which allows account owners to take a more proactive approach when it comes to managing risk and enhancing investment returns.
The most common type of investment chosen for these accounts includes real estate and precious metals.
Rolling Over Retirement Accounts into a Self-Directed IRA
You also have the option of transferring funds from an existing IRA into a self-directed IRA. Almost all retirement accounts can be rolled over into a self-directed IRA.
These options include profit-sharing plans, qualified annuities, 401(k)s, 403 (b)s, SEP IRAs, Roth IRAs as well as traditional IRAs.
Why You Should Invest in Gold
One of the biggest advantages of gold is that it holds its value and it has been widely used by people for preserving wealth that is passed to the next generation.
Offers an excellent hedge against the reserve currency: It has been seen that the price of gold is always on the rise when the value of a reserve currency or the US dollar falls. This is why it is known as a safe haven.
People are always looking for gold when the reserve currency loses value.
It offers a great bet against rising prices.
If there is deflation, the business activity tends to slow down and prices go down and there is excessive debt in the economy. When it comes to relative purchasing power, gold is usually on the up while other assets lose value.
People are always looking for safety whenever there is a global crisis. If governments lose the confidence of the people, people always flock to gold and that leads to an increase in prices.
For example, the crisis in the European Union led to an increase in gold prices.
Most of the gold supply available in the markets since the 1990s has been sourced from the old bullion stored in the central bank vaults. However, this supply has been steadily declining and the mining output has also been decreasing.
A new mine takes anywhere from 5 to 10 years before it can begin production. Any decrease in the gold supply also leads to an increase in prices.
The decline in paper investment also leads to an increase in the price of gold and this is why it is the perfect asset for portfolio diversification. There can be volatility in gold prices in the short term but it has retained its value over the long run.
This is why if you are planning to invest in gold, make sure it’s a long-term investment.
Why Invest with My Private Bullion
It is a precious metals investment company that is trustworthy. They have a lot of industry experts and they provide direct access to a variety of precious metals including gold.
Trained professionals in the company can help you understand everything you need to know about gold IRA transfer or rollover.
Is My Private Bullion a Scam?
They are certainly not a scam. They are a real company that wants to help people who are searching for investments in precious metals for a new portfolio or for diversifying their existing portfolios.
Conclusion
They are an established company that offers several options for precious metals investment.
They offer a wide range of products including numismatics, collectibles, and gold IRAs that are accompanied by several strategies. BBB has rated the company A+ but they are still not accredited.
The information on the management team, custodians, product prices, or IRA fees is also lacking which could be a cause of concern.
My Private Bullion is not a scam, they are a decent company, but we do not recommend them.
They are not the best option for individual precious metals purchases and definitely not the best option for investors that want to protect their saving from inflation with a Gold IRA.
There are much better companies to work with that we recommend.
You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:
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Or, if you like what you have read about My Private Bullion, you can go to there website below:
I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
