Here's Where The Name GOLD IRA Came From

You should be hearing more of the term "Gold IRA" lately because of the monstrous inflation and major losses in stocks and cryptos. So, what is it actually?

LOS ANGELES, CA, USA, September 27, 2022 /EINPresswire.com/ -- Gold IRA has become a popular investment phrase and an even more popular retirement vehicle. Gold is the most popular precious metal, but the term is somewhat of a misnomer, because a “Gold IRA” can hold any IRS-approved gold, silver, platinum, or palladium products, whether bars, coins, proofs, etc. The reasons for a Gold IRA’s success and popularity are simple. According to Orkan Ozkan, Co-Founder and CEO of American Bullion, Inc. the company who came up with the term "Gold IRA", no non-metal assets can boast their same intangible and economic qualities:

• Physical precious metals have no credit or counter-party risk.
• Precious metals require no specialized or “insider” knowledge.
• Precious metals provide the necessary diversification that can mitigate risk in times of political and economic stress.
• Precious metals are easy to buy and sell.
• Precious metals are real money, not a fiat currency or someone else’s assets.
• Even as the stock market hits bubble-like records, precious metals could still outperform equities in the long run.

In addition, savvy investors understand the risk posed by monetary policy that emphasizes systemic inflation. Proper diversification cannot exist if an investor’s entire portfolio consists of U.S. dollar-dominated assets or, for that matter, assets subject to the whims of any fiat currency regimes.

Being keenly aware of the value of portfolio diversification and the need for inclusion of physical precious metals as a necessary hedge, American Bullion was selling and shipping precious metals all over the country, when founded in 2009. But its founders, Orkan Ozkan and Nevtan Akcora were constantly hearing clients complain about the fact that their IRA’s, 401(k)’s, and other retirement tools had been decimated by the 2008 economic meltdown, which had been triggered by a plethora of subprime mortgage defaults. The clients were upset, felt they had no “escape hatch,” and most certainly didn’t want to remain in such a vulnerable financial position without options. So American Bullion’s founders set out to create a viable solution. They researched the Taxpayer Relief Act of 1997, then interviewed companies, created a team, and assembled a tax and penalty free system capable of providing clients with a one-stop shop for the acquisition of precious metals in their existing retirement portfolios.

The system they created, in fact, accomplished the goal of helping individuals to transfer funds from IRA’s, Simple IRA’s, SEP IRA’s, 401(k)’s, Roth IRA’s, 403(b)’s, Thrift Savings Plans, tax-sheltered annuities, and other qualified plans, into a self-directed IRA capable of holding physical precious metals. The founders secured agreements with Sterling Trust Company to function as account custodian, providing quarterly reporting to both, the government and the client, as well as the DDSC (Delaware Depository Services Company), to secure, insure, and account for the account’s physical precious metal products. The next step for the founders was to secure an easy-to-remember phone number that would properly present the new industry to America. (800) GOLD IRA was secured and has served as the company’s flagship moniker since the company’s inception, which is indicative of true pioneers.

The beauty of the system created is that with one phone call to American Bullion, an interested party can learn about a Gold IRA’s benefits and process. Once a prospect decides to move ahead with account establishment, an American Bullion IRA Relations representative initiates a conference call with the prospect and their current custodian or administrator, in order to verify existence of a qualified account. In many cases, a rollover can be achieved in the same call. Otherwise, transfer requirements with the current custodian are confirmed, the American Bullion representative prepares the necessary paperwork, and sends it to the prospect, needing only a review, signature, and fax or email return. Information is then provided to the American Bullion representative to complete the custodial application for the new account and the populated application is sent to the new client, physically or by electronic delivery.

The tremendous success and popularity of the Gold IRA created a sudden boom in dealers eager to copy the American Bullion system and provide “similar” services, many of those choosing to locate in Los Angeles, and many of those also choosing to locate on Wilshire Boulevard.

With so much at stake, it is highly recommended that prospects research these companies before jumping into the first opportunity, because all Gold IRA’s are not the same. At the very least, such a provider should be recognized as a dealer by the U.S. Mint, a member or better yet, an Authorized Dealer of the Numismatic Guaranty Corporation, and Professional Coin Grading Service. In addition, they should have an A+ rating with the Better Business Bureau and five-star ratings with Trust Link and Trust Pilot. Experienced professionals, like American Bullion, will also be members of Ethics.net, the American Numismatic Association, and the Industry Council for Tangible Assets.

Increasing inflation, national debt and world tensions are a clear indication that things may get worse before they get better. Precious metals have a very long financial history of appreciation under such conditions and current price levels may be one of the best reasons of all to consider a Gold IRA, sooner rather than later.

John Reese
American Bullion, Inc.
+1 310-689-7720
email us here
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