- Coin Grading FAQ
- What does MS mean on a coin?
Mint State (MS) The numerical grades MS-60 through MS-70, used to denote a business strike coin that never has been in circulation. A Mint State coin can range from one that is covered with marks (MS-60) to a flawless example (MS-70).
- Uncirculated (MS-60, 61, 62): An uncirculated coin with noticeable deficiencies, generally either an overabundance of bagmarks, a poor strike, or poor luster.
- Select Uncirculated (MS-63): An uncirculated coin with fewer deficiencies than coins in lower uncirculated grades. In general, this will be an uncirculated coin with relatively ordinary eye appeal. Select Uncirculated is sometimes used to refer to a coin grading MS-62.
- Choice Uncirculated (MS-64): An uncirculated coin with moderate distracting marks or deficiencies. These coins generally have average to above average eye appeal.
- Gem Uncirculated (MS-65, 66): An uncirculated coin with only minor distracting marks or imperfections. At this point, mint luster is expected to be full, although toning is quite acceptable.
- Very Fine (VF): The coin will have medium to light wear overall, and all general details will be visible. As a rule of thumb, for seated coins, Barber coins, Liberty Nickels, and Indian Head Cents, all seven letters of LIBERTY will be visible and strong.
- Extremely Fine (XF): The coin has light wear over the high points only. There may be some traces of mint luster. Also commonly abbreviated as EF.
- About Uncirculated (AU): The coin has wear ranging from extremely light to only a trace of friction on the highest points, along with medium to nearly full luster.
- Brilliant Uncirculated ( BU): A coin described as BU means the coin is in Brilliant Uncirculated condition, meaning the coin has not been circulated and shows no signs of wear.
- What’s the difference between PCGS and NGC grading
While both use a 70-point grading scale and offer a guarantee of authenticity, their grading philosophies differ.
PCGS is known for its strict grading standards and technical focus, while NGC takes a more holistic approach that considers the historical significance and rarity.
- IRA FAQ
- What type of retirement account are eligible to roll over into a Precious Metals IRA?
Types of retirement accounts eligible for rollover or transfer into a Precious Metals IRA include 401(k) 403(b), Pensions and Thrift Savings Plan accounts. You can even roll over funds from a Roth retirement account into a Roth Precious Metals IRA, or perform a Roth conversion when rolling over from a 401(k) or similar account into a Roth Precious Metals IRA
- What is the minimum order value?
There is no minimum order value whether you are purchasing precious metals for Home Delivery or Precious Metals IRA.
- Am I allowed to have more than one IRA?
Yes, an individual is allowed to have more than one IRA account. However, your total yearly contribution will remain at the same maximum no matter how many IRAs you have.
- Will I ever be able to take physical delivery of my precious metals held in my IRA?
You can liquidate or take possession of your metals at any time. However this is considered a distribution and there may be tax implications involved. We recommend speaking with a tax professional before making this decision.
- If I invest in an IRA, do I still receive the physical metals?
No. As part of the IRS’ rules regarding precious metals IRAs, we, as the dealer, MUST ship the products to an approved IRA depository, who then holds the metal until the time you are ready to liquidate the position.
- Are there any IRA contribution limits?
Yes, you may be subject to IRA contribution limits depending on your type of IRA and income levels. Please consult with your IRA custodian to learn of any contribution limits you may be subject to.
- What are the typical custodian and holding fees?
Fees vary depending on the size of your account and the metal holdings in your depository. Please contact either your IRA custodian or your depository of choice to learn more about fee structures.
- How will Account Holder know when their metals are deposited in IRA Custodians Depository?
Most depositories provide full accounting and reporting services to ensure your metals are safe and accounted for. Some have a client portal you can access anytime, and some provide quarterly statements of Account Holders metals.
- Why is a self-directed IRA better than an ETF like GLD?
We do not provide investment advice, but many of our clients prefer self-directed precious metals IRAs because they are backed by real, physical, segregated metal, vs. an ETF like GLD which is only backed by a pool of gold holdings and positions.
- What precious metal products are not eligible for IRA?
To qualify as an IRA-approved product, precious metals must meet minimum fineness levels. The American Gold Eagle is the only exception to the following numbers. Minimum gold fineness: .995. Minimum silver fineness: .999. Minimum platinum fineness: .9995. Minimum palladium fineness: .9995. Any products falling outside of these ranges, excluding American Gold Eagles, are not approved for IRA contributions. Examples of non-approved precious metals products include pre-1933 gold, gold Krugerrands, and 90% US silver coins.
- How do I buy coins to put in my IRA?
The first step to investing in a precious metals IRA is to open an account with an IRA Custodian of your choice. Second step fund the account. Third step once your account is funded, your IRA custodian will notify us you have funds available and intend to use them to purchase coins for your IRA from Wall Street Metals. You are now ready to begin investing in precious metals through your IRA. Wall Street Metals will email you the forms your IRA custodian requires to be completed. These must be signed by both parties (precious metals dealer & Account holder).
- Are there penalties for moving assets from an IRA or 401(k) to a Precious Metals IRA?
No, when performed correctly, a rollover or transfer of assets into a Precious Metals IRA takes place with no taxes or penalties.
- How long does it take to roll over an existing 401(k) into a Precious Metals IRA?
This will vary based on which custodian you choose. It can take 2-4 business days to open your account once they receive your application. After your account is set up you will then have to fund it.
- Once I receive my old 401(k) funds, how long to I have to deposit them into my new precious metals IRA?
In the case of a 401(k) rollover, your funds are generally paid directly to you. Once you have the funds in your possession you have 60 days to transfer them into your new self-directed IRA account. If you do not do so within this 60-day period, you may be required to pay taxes. In order to fully understand these rules, we recommend talking to a tax advisor before transferring any IRA funds.
- Why should I transfer a 401(k) into Precious Metals?
With the mounting global economic crisis and our domestic debt and deficit issues, many savvy investors are converting 401(k) monies into precious metals, especially gold. In order to do so, you must first you must check the terms and conditions of your existing accounts. If they do not allow for gold and other precious metals investments it may necessitate rolling your funds into a self-directed IRA. Keep in mind that some plans have roll-over penalties and others do not allow accrued dollars to be moved at all unless an exemption is cited like leaving employment or financial hardship. The key is to get the funds released and set up an IRA with the option to purchase precious metals. Smart investors are placing both physical gold and silver in their Individual Retirement Accounts (IRAs). Gold and silver have become important options for hedging against increasingly likely global economic collapse.
- What are the tax benefits of investing in a precious metals IRA?
Investors can expect to see significant tax savings by investing in precious metals using an IRA vs. investing outside an IRA. To learn more about the tax benefits of using a Traditional or Roth IRA to invest in physical precious metals.
- Can I roll over or transfer an existing IRA to a self-directed precious metals IRA?
Yes. Your self-directed IRA custodian can help you arrange to rollover or transfer your existing IRA into a precious metals IRA.
- Which custodians does Wall Street Metals work with?
Wall Street Metals works with all major Self-Directed IRA custodians.
- Do you charge commission as the dealer for IRA precious metals transactions?
No. Our only part of the IRA contribution process is selling the actual metal to the custodian, which we do at our normal rates with no commissions or surcharges added.
- Payment FAQ
- What payment methods do you accept?
Wall Street Metals accepts payment by Credit Card (Visa, MasterCard, American Express & Discover), Check, Wire Transfer & ACH.
Most banks charge about $20-$35 for wire transfer service. To avoid your bank surcharge, choose ACH instead.
Note that there is a 3% surcharge when paying via Credit Card which is added at checkout.
- How do I place an order by Bank Wire Transfer or ACH?
Bank wire payments have a $250,000 maximum. Select “Bank Wire/ACH” as your payment method at checkout. On your order confirmation page, you will see our Bank Wire/ACH transfer instructions and account information. These will also be emailed to you. Please take these instructions to your bank and initiate your Bank Wire/ACH transfer within two (2) banking day of order placement to lock in sales price. Most banks charge about $20-$35 for wire transfer service. To avoid your bank surcharge, choose ACH instead. Bank wires usually take about half a business day to be received. You will be sent an email confirmation upon receipt of your bank wire or ACH payment. We will then begin preparing your order for shipment. An email notification will be sent when your order ships within 3 business days via Fed Ex or USPS from our Delaware Depository.
- Do I need to provide credit/debit card information for bank wire or ACH payments?
No, credit card needed on file for wire transfer or ACH payments. Wire transfer/ACH must be done within 2 business days from placing order to lock in sale price.
- Are there any additional taxes on metals added at checkout?
There are no additional taxes or processing fees at checkout.
- Shipping FAQ
- What States Do You Ship To?
The Lower 48 states only. Our precious metals insurance carrier only covers USA (excluding Alaska & Hawaii)
- Do You Offer International Shipping?
No, our precious metals insurance carrier (Lloyd’s Of London) covers USA only (excluding Alaska & Hawaii)
- When will I receive my order?
When you will receive your order depends primarily on three factors:
When we receive your payment (wires & ACH must be initiated/sent by you) Please note that you will receive a Paid email once your payment is received.
Holding period after cleared payment. Depending on your payment method, we will hold the order once payment is received and cleared. The hold periods by payment method are listed in checkout and in your confirmation email.
Shipping method and transit time. FedEx & USPS will be used. Tracking will be emailed to you 3 business days after payment processed.
- How do you ship orders?
Orders are shipped in inconspicuous packaging via either FedEx or USPS.* Our shipping policy, which is based on order size. All shipments have tracking #, are fully insured & require a signature upon delivery.
- Will I need to sign for my package?
All orders require a signature for delivery. Please note, per our Terms and Conditions, once a package shows delivered, our responsibility ends. Please be available and attentive to receive the package when the courier arrives. Due to COVID 19, couriers are not always getting the signature.
- How will I know when my order ships?
We will notify you by email once your order ships with carrier & tracking details.
- Where do you ship orders from?
All orders ship from our Delaware Depository in Wilmington, Delaware where our coins our stored.
- Do I pay for the shipping on my home storage purchase?
We offer free shipping on all orders over $500. Smaller orders incur a $19.99 shipping charge. Furthermore, all of the packages we send out are fully insured and include tracking. This means you will be able to track your package while it is on its way to your home.
- Do you ship to US territories?
We do not ship to US territories. Due to special requirements set by the postal systems & our precious metals insurance carrier, we are unable to ship outside of U.S. states.
- Do you offer FedEx shipping to Alaska and Hawaii?
Due to special requirements set by the postal systems, we are unable to ship outside lower 48 states.
- Is my package insured while in transit?
We fully insure all shipments. Should anything happen while your package is in transit to you, it will be covered by our Lloyd’s Of London insurance policy. If we determine the package is lost or damaged, we file a claim. We reserve the right to re-ship your items or refund your money at our discretion.
Please view or search our most common frequently asked questions below.
FAQs are grouped by our most popular topics; IRA, Payment and Shipping etc.