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May 25, 1994
Securities and Exchange Commission
450 Fifth Street, N.W.
ATTN: Document Control - EDGAR
Washington, D.C. 20549-1004
RE: Rule 24f-2 Notice for
IDS Precious Metals Fund, Inc.
SEC File No. 2-93745
Commissioners:
[i] In accordance with the provisions of Rule 24f-2, IDS
Precious Metals Fund, Inc. hereby files its Rule 24f-2
Notice for the fiscal year ended March 31, 1994
("Fiscal Year").
[ii] Amount of securities registered other than under
24f-2 which were unsold at the beginning of
the fiscal year.* $59,819,549
[iii] Amount of securities registered during the fiscal
year other than under 24f-2** $0
[iv] Amount of securities sold during the fiscal year***
($340,767)
[v] Amount of securities sold pursuant to 24f-2 $0
[vi] Fee $0 x 0.0003448 $0.00
* 7,037,594 shares x $8.50 on May 19, 1994
** 0 shares x $8.50 on May 19, 1994
*** Sales of $127,471,457 minus redemptions of $127,812,224
Enclosed please find an opinion of counsel.
If there are any questions, please contact the undersigned.
Very truly yours,
IDS PRECIOUS METALS FUND, INC.
Leslie L. Ogg
Vice President, General Counsel
and Treasurer
LLO/HSB/djm
Enclosures<PAGE>
EXHIBIT INDEX
(b) (10) OPINION OF COUNSEL
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May 25, 1994
IDS Precious Metals Fund, Inc.
IDS Tower 10
Minneapolis, MN 55440-0010
Gentlemen:
I have examined the Articles of Incorporation and the By-Laws of
the Company and all necessary certificates, permits, minute books,
documents and records of the Company, and the applicable statutes
of the State of Minnesota, and it is my opinion:
(a) That the Company is a corporation duly organized and existing
under the laws of the State of Minnesota with an authorized
capital stock of 10,000,000,000 shares, all of $.01 par
value, that such shares may be issued as full or fractional
shares and that on March 31, 1994, 8,749,289 shares were
issued and outstanding;
(b) That all such authorized shares are, under the laws of the
State of Minnesota, redeemable as provided in the Articles of
Incorporation of the Company and upon redemption shall have
the status of authorized and unissued shares;
(c) That the Company registered on October 16, 1984, an
indefinite number of shares pursuant to Rule 24f-2 and is
herewith filing a Rule 24f-2 Notice covering the shares sold
during its Fiscal Period ended March 31, 1994; and
(d) That shares which were sold at not less than their par value
and in accordance with applicable federal and state
securities laws were legally issued, fully paid and
nonassessable.
I hereby consent that the foregoing opinion may be used in
connection with the Rule 24f-2 Notice.
Very truly yours,
Leslie L. Ogg
Attorney at Law
901 S. Marquette Ave., Suite 2810
Minneapolis, MN 55402-3268
LLO/HSB/rjf
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