{"id":42704,"date":"2024-03-06T16:09:27","date_gmt":"2024-03-07T00:09:27","guid":{"rendered":"https:\/\/goldco.com\/?p=42704"},"modified":"2024-09-03T12:46:24","modified_gmt":"2024-09-03T19:46:24","slug":"how-to-read-your-gold-ira-account-statement","status":"publish","type":"post","link":"https:\/\/goldco.com\/how-to-read-your-gold-ira-account-statement\/","title":{"rendered":"How to Read Your Gold IRA Account Statement"},"content":{"rendered":"<p>Your statement is provided by your IRA Custodian, not Goldco. \u00a0We thought you\u2019d like to get an explanation of how to read your statement straight from one of them.<\/p>\n<p>In this two and a half minute video and FAQ, the Equity Trust team discusses the method used to value metals in your <a href=\"https:\/\/goldco.com\/gold-ira\/\">precious metals IRA<\/a>.<\/p>\n<p>Equity explains that when you log into your online portal or you view your account statement, you might find that the value of the underlying precious metals in your account is less than the value that you purchased the metals for, or the value for which you could sell those metals back to Goldco or another precious metals dealer. This is because Equity typically calculates the value of your assets based on just the spot or melt price of the underlying physical metals that comprise your precious metals assets.<\/p>\n<p>Equity further explains that the \u201caccurate\u201d or \u201ctrue\u201d market value on any one given day can be found by visiting\u00a0<strong><u><a href=\"https:\/\/bullionvalues.org\/\" target=\"_blank\" rel=\"noopener\">bullionvalues.org<\/a><\/u><\/strong>\u00a0or by asking Goldco, your precious metals dealer, for the price at which you could sell those metals.<\/p>\n<h2 style=\"text-align: left; font-size: 40px !important;\">Watch Video: Valuing Metals in Your Equity Trust Account:<\/h2>\n<p><iframe title=\"Valuing Metals in Your Equity Trust Account\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/OSz5cftNufg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2 style=\"text-align: left;\"><span style=\"color: #08723b;\">Read \u201cWhy does my Precious Metals value not match the purchase invoice?\u201d on the Account Statement FAQs:<\/span><\/h2>\n<p><a href=\"https:\/\/www.trustetc.com\/statement-faqs\/\" target=\"_blank\" rel=\"noopener\" data-action=\"url\" data-params=\"false\"><strong><u>https:\/\/www.trustetc.com\/statement-faqs\/<\/u><\/strong><\/a><\/p>\n<h3>Let\u2019s walk through an example.<span style=\"font-weight: 400; font-family: 'Open Sans'; font-size: 20px; color: #323232;\">\u00a0<\/span><\/h3>\n<style>\n.statement {background-color: #EEEEEE;}<br \/>\n.statement ul {list-style-type: none;  padding: 50px 50px 0px 50px;}<br \/>\n.statement ul li {margin-bottom: 35px !important; margin-left: 30px;}<br \/>\n.statement ul li::before {font-family: \"Font Awesome 5 Free\"; content: '\\f0c8';margin:0 18px 0 -38px;font-size: 20px; position: relative; top: 3px;\t}<br \/>\n.statement ul li:last-child {padding-bottom: 20px;}<br \/>\n@media (max-width: 500px){.statement ul {padding: 20px 20px 0px 20px !important;}<br \/>\n.statement ul li:last-child {padding-bottom: 5px;}<br \/>\n<\/style>\n<div style=\"margin-bottom: 2rem;\">\n<table class=\"statement\" border=\"0\" width=\"100%\">\n<tbody>\n<tr>\n<td>\n<ul>\n<li>If you went to the US Mint website on <span style=\"color: #08723b;\"><strong>February 29, 2024<\/strong><\/span> and <span style=\"color: #08723b;\"><strong>purchased a 2024 American Eagle One Ounce Silver Proof Coin<\/strong><\/span>, you would pay <strong><span style=\"color: #08723b;\">$80<\/span><\/strong> for that coin.<\/li>\n<li>If you paid for that coin using funds from your IRA and got a statement on the same day, your Equity statement <strong><span style=\"color: #08723b; text-decoration: underline;\">would not report<\/span><\/strong> that the <strong><span style=\"color: #08723b;\">Market Value of that coin is $80<\/span><\/strong>.<\/li>\n<li>The statement would show that the <span style=\"color: #08723b; text-decoration: underline;\"><strong>Market Value was something close to $22.41<\/strong><\/span>. In the video, Equity explains that <span style=\"color: #08723b; text-decoration: underline;\"><strong>the reason for the difference is that its statements only reflect the spot or melt price of metal<\/strong><\/span>.<\/li>\n<li>In this case, <strong><span style=\"color: #08723b; text-decoration: underline;\">the spot or melt price of silver on February 29, 2024 was roughly $22.41, which is why Equity would use that value on your statement<\/span><\/strong>.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>We hope that the Equity explanations and this example help you understand your statement. If you have any questions please feel free to contact us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover how to interpret your IRA custodian&#8217;s account statement and discern the variance between the purchased and potential selling value of precious metals.<\/p>\n","protected":false},"author":15,"featured_media":42706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[209],"tags":[],"class_list":["post-42704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-precious-metals"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Read Your Gold IRA Account Statement &#8211; Goldco<\/title>\n<meta name=\"description\" content=\"Discover how to interpret your IRA custodian&#039;s account statement and discern the variance between the purchased and potential selling value of precious metals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldco.com\/how-to-read-your-gold-ira-account-statement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Read Your Gold IRA Account Statement &#8211; 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