I have been nervous about my pension of about ten years. I recently found a Trust Company that can convert my ira into gold bullion coins and have them physically stored in a bank that stores gold. I had my ira recently rolled over to them and just got word that the bank is now in possession of the coins.

The reason I have done this is because I am scared of the stock market. I am afraid to leave it in stocks until 1999. My plan is to wait until January 1999 and then withdraw the coins into my own possession. Why am I waiting until 1999? I will not have to pay the 20% until April 15th, 2000. My guess is that there will be no irs, no personal income tax, and no 20%

The name of the company is: American Church Trust Company, Phone 1800-228-8825. Ask for Paul Rowe.

-- B Brown (peace2u@bellatlantic.net), May 18, 1998

Answers

"I had my ira recently rolled over to them and just got word that the bank is now in possession of the coins".

Two concerns I would have:

1) The Federal Government can and most likely will, confiscate Gold. This could be, I understand, Gold in any form.

2) The Bank doors may be closed completely and indefinately, By the Federal Government. It might be difficult to get your investment into your own hands.

It is quite possible, if things keep going the way they are, that we will see some Federal constraints as soon as the first Quarter of next year.

-- Dave Jones (dfj@fea.net), May 18, 1998.