Goldstar Trust Now Providing Self-Directed IRA Custodial Services for Perth Mint Certificates
Goldstar Trust Company, has announced that it now provides self directed IRA custodial services for clients who wish to participate in the Perth Mint Certificate Program (PMPC) in order to invest in precious metals that are stored outside of the United States.
The Perth Mint is operated by The Gold Corporation which refines gold, produces cast gold bars, minted bars and gold bullion coins which is legal tender in Australia. It sells gold to individual clients, trusts, institutional investors and corporations from other countries which is in turn stored for them in local depositories operated by the company.
“We have a long history of providing custodial services for IRA clients on whose behalf we purchase precious metal coins or bars through U.S. dealers and which are physically shipped to separately owned depositories,”said John Johnson, president of Goldstar Trust. “Through the PMCP we offer our IRA account holders an opportunity to invest in IRS approved bars and bullion produced and stored in Australia. To do this, we open an account through a PMCP approved dealer and provide funds from the IRA to purchases the gold. The dealer provides us with a Perth Mint Certificate, guaranteed by the Western Australian government which verifies that our client’s IRA has legal title to the gold.”
IRA account holders purchasing gold through the PMCP have three storage options, Allocated, Pool Allocated and Unallocated. Allocated storage means the mint separately stores identifiable bars or coins in the buyers name.
Purchasers choosing Pool Allocated have an undivided interest along with other buyers in a specific pool of separately stored metals. Unallocated storage provides the buyer with an interest in common in Gold Corporation’s gold supply.
Johnson noted that when a client wishes to sell the gold, Goldstar sells the certificate to the Perth Mint via approved dealer and receives funds to place in the IRA.
Additional information regarding the PMCP can be obtained by contacting Goldstar Trust (800-486 6888) or by visiting www.perthmint.com/au.
About Goldstar Trust Company
GoldStar Trust Company, headquartered in Canyon, Texas is one the nation’s leading self-directed IRA custodians with more than twenty years of experience and serves more than 37,000 IRA accounts with assets of more than $1.9 billion dollars as of March 31, 2014. The firm has developed a special expertise and experience in serving alternative investment IRA account holders.