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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _____
Pre-Effective Amendment No. _____ _____
Post-Effective Amendment No. 28 (File Number 2-93745) X
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY
ACT OF 1940 _____
Amendment No. 30 (File Number 811-4132) X
IDS PRECIOUS METALS FUND, INC.
IDS Tower 10, Minneapolis, Minnesota 55440-0010
Leslie L. Ogg, 901 S. Marquette Ave., Suite 2810,
Minneapolis, MN 55402-3268
(612) 330-9283
Approximate Date of Proposed Public Offering:
It is proposed that this filing will become effective (check
appropriate box)
X immediately upon filing pursuant to paragraph (b)
_____on (date) pursuant to paragraph (b) of rule 485
_____60 days after filing pursuant to paragraph (a)
_____on (date) pursuant to paragraph (a) of rule 485
<TABLE>
<CAPTION>
_______________________________________________________________________________
Proposed Proposed
Title of Maximum Maximum
Securities Amount Offering Aggregate Amount of
Being Being Price per Price Per Registration
Registered Registered Unit1 Unit2 Fee
<S> <C> <C> <C> <C>
Capital Stock
of $.01 par
value per share Indefinite* N/A N/A N/A
Capital Stock
of $.01 par
value per share 759,141 $16.61 $12,609,332 $100
_______________________________________________________________________________
</TABLE>
*Registrant has registered an indefinite number or amount of
securities under the Securities Act of 1933 pursuant to Rule 24f-2
under the Investment Company Act of 1940. The Rule 24f-2 Notice
for Registrant's most recent fiscal year ended March 31, 1996 was
filed on May 23, 1996.
1. Computed under Rule 457(d) on the basis of the offering price
per share at the closing price per share at the close of business
on May 15, 1996.
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2. Registrant elects to calculate the maximum aggregate offering
price pursuant to Rule 24e-2. $132,203,761 of shares were redeemed
during the fiscal year ended March 31, 1996. $119,594,429 of
shares was used for reductions pursuant to paragraph (c) of Rule
24f-2 during the current year. $12,609,333 of shares is the amount
of redeemed shares used for reduction in this amendment.
Record of 24e-2 shares registered and used for fiscal year ended
March 31, 1996.
Prior shares registered 0
Shares used in current year 0
Additional shares registered current filing 759,141
Net redemptions for coming fiscal year 759,141
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant, IDS Precious Metals
Fund, Inc., certifies that it meets all of the requirements for
effectiveness of this Amendment to its Registration Statement
pursuant to Rule 485(b) under the Securities Act of 1933 and has
duly caused this Amendment to its Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Minneapolis and the State of Minnesota on the 23rd
day of May, 1996.
IDS PRECIOUS METALS FUND, INC.
by
Melinda S. Urion, Treasurer
By /s/ William R. Pearce**
William R. Pearce, President
Pursuant to the requirements of the Securities Act of 1933, this
Amendment to its Registration Statement has been signed below by
the following persons in the capacities indicated the 23rd day of
May, 1996.
Signature Capacity
/s/ William R. Pearce** President, Principal
William R. Pearce Executive Officer and
Director
/s/ Leslie L. Ogg** Treasurer, Principal
Leslie L. Ogg Financial Officer and
Principal Accounting
Officer
/s/ Lynne V. Cheney* Director
Lynne V. Cheney
/s/ William H. Dudley* Director
William H. Dudley
/s/ Robert F. Froehlke* Director
Robert F. Froehlke
/s/ David R. Hubers* Director
David R. Hubers
/s/ Heinz F. Hutter Director
Heinz F. Hutter
/s/ Anne P. Jones* Director
Anne P. Jones
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Signature Capacity
/s/ Melvin R. Laird* Director
Melvin R. Laird
/s/ Edson W. Spencer* Director
Edson W. Spencer
/s/ John R. Thomas* Director
John R. Thomas
/s/ Wheelock Whitney* Director
Wheelock Whitney
/s/ C. Angus Wurtele Director
C. Angus Wurtele
*Signed pursuant to Directors' Power of Attorney dated November 10,
1994, filed electronically as Exhibit 18(a) to Post-Effective
Amendment No. 24 to Registration Statement No. 2-93745 by:
______________________________
Leslie L. Ogg
**Signed pursuant to Officers' Power of Attorney filed
electronically as Exhibit 17(b) to Post-Effective Amendment No. 21
to Registration Statement No. 2-93745 by:
______________________________
Leslie L. Ogg
EXHIBIT INDEX
(B)(10) OPINION OF COUNSEL
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May 23, 1996
IDS Precious Metals Fund, Inc.
IDS Tower 10
Minneapolis, MN 55440-0010
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, 1996, 7,598,678 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 now proposes to register an additional
759,141 shares by post-effective amendment, pursuant to Rule
24e-2 of the Investment Company Act of 1940, and that when
sold at not less than their par value and in accordance with
applicable federal and state securities laws such shares will
be legally issued, fully paid and non-assessable.
I hereby consent that the foregoing opinion may be used in
connection with the post-effective amendment to your registration
statement to be filed by you pursuant to Section 24(e) of the
Investment Company Act of 1940, as amended for the purpose of
increasing the shares of capital stock, the securities specified
therein, as proposed to be offered.
Very truly yours,
Leslie L. Ogg
Attorney at Law
901 S. Marquette Ave., Suite 2810
Minneapolis, Minnesota 55402-3268
LLO/KW/rdh
