It will work for some, but not for any government empolyee plan, or union plan.
There is anothe thorn in that idea too: A substantial percentage of the plan operators that hold physical gold and silver for IRAs only have a fractional reserve, IOW, they are fraudulent.
How do you tell who is honest?
Aye, there’s the fancy part of the idea.
One, you CAN’T do it for any employee plan, it has to be “outside” in a “traditional IRA”. Only these can be converted to a self-directed IRA.
Now, YOU establish “editor-surveyor PM investments, LLC”, of which you are the manager, and your SD IRA is the sole “member” or stock holder.
Now, you direct your IRA custodian to invest 100% in “Editor-Surveyor PM Investments, LLC” and you buy silver/gold and keep it in a safe somewhere where you can touch it.
How do you tell who is honest? :)
Here’s where I heard about it, but I wanted to know if anyone here has actually DONE it:
http://www.thesurvivalpodcast.com/gray-on-holding-silver-in-self-directed-iras