Purchase and receive precious metals using Solo 401k funds

QUESTION:

Does the IRS allow for me to purchase and receive precious metals, using funds?

ANSWER: 

Per the following IRS language yes but only if it is coins. The bars need to be held with an approved depository taking intuition such as Delaware Depository.

IRS Language“Trusts and trustees. 401(k) plans are funded through a trust established to hold and invest the plan’s assets. At least one trustee is appointed to have responsibility for the activities of the trust and its assets. This is a serious responsibility with considerable potential for liability. Trustees might include the business owner, an employee, or a financial or trust institution.”

To learn more about the solo 401k rules .