More importantly, they manage the unique storage needs involved with holding physical gold bullion. The IRS does not allow you to personally store precious metals owned via a gold IRA at home. If you take personal control of the physical gold from a self-directed IRA, the IRS counts it as a withdrawal—making you potentially subject to taxation and early withdrawal penalties—and in some cases the IRS is empowered to shut down your entire account.
Gold IRA rules mandate that you store eligible precious metal with a national depository, a bank or a third-party trustee approved by the IRS. Your custodian can refer you to an approved facility and handle the gold transfer as part of setting up your gold IRA.
Once you’ve opened a self-directed gold IRA, you can transfer cash into the account to fund your purchase of physical gold. One option is to roll over an existing retirement account to your self-directed IRYou won’t owe taxes on the move since the funds remain within a qualified retirement plan.
You could also deposit cash each year, following the annual IRA contribution limits. With the money in your account, you can then buy gold for your gold IRA.
The IRS has strict rules regarding the type of physical gold you can own in a gold IRYou can only purchase gold bars that are at least 99.5% in purity. You can also buy a number of gold coins, including the American Gold Eagle, the American Buffalo, the Canadian Maple Leaf and the Australian Gold Nugget/Kangaroo coins, for your gold IRA.
Certain Collectable Coins and Collectibles Are Not Allowed in a Gold IRA
The IRS does not allow popular gold coins like the South African Krugerrand or the United Kingdom Sovereign coins to be held in a gold IRIn addition, you cannot invest in gold collectibles with an IRMake sure to review the permitted list gold objects with your custodian before moving gold into your IRA.
Preserving Wealth With Gold IraIf you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the value of the item and, if you are younger than 59 ½, an additional 10% early withdrawal penalty.
A gold IRA charges a range of additional custodian fees that you wouldn’t owe on a normal IRA:
Account setup fees. The custodian may charge an upfront fee to launch your account, generally ranging from $50 to a few hundred dollars. However, some custodians do not charge a setup fee, especially if you make a larger deposit, like $30,000 or more.
Custodian annual maintenance fee. The custodian generally charges an annual maintenance fee to cover the administrative expenses of overseeing your account and handling the paperwork. This could be a flat fee of $75 to $300 per year. Some companies also charge more for larger accounts, like $175 if you have less than $100,000 and $225 for over $100,000.
Seller fees. When you buy physical gold for your IRA, the seller could charge a markup, meaning you’d be paying more than the spot market price of the gold. This fee depends on market conditions and the type of physical gold you’re aiming to buy. Sellers may also charge commissions and fees for handling the transaction: $40 per transaction is standard.
Storage fees. Gold owned in a gold IRA must be stored in a secure location. The more gold you own, the higher the storage fee. This may be a flat rate or a percentage of the value of your account.
How To Own Gold In A Roth IraInsurance fees. Custodians may lump gold insurance charges together with the storage fee, charging one flat rate, or break it out separately. Depending on how much gold you hold, you should expect storage and insurance to cost between $100 to $300 a year.
Wire transfer fees. If you send or receive money by wire transfer for your transactions, the custodian could charge a fee to cover the cost of about $25 per wire.
Cash-out fees. If you close your account, the custodian may also charge a final cash-out fee of around $250.
When you’re a new customer, the custodian may be willing to waive some of these fees for the first two to three years, especially if you have a larger account balance. But even with larger accounts, you could face extra charges that you would incur if you held your money in a standard IRA.
Before opening a gold IRA, keep in mind that it’s not the only way to invest in gold with your retirement funds. There are simpler ways to save for retirement with assets exposed to gold beyond buying physical bullion itself.
You can invest in gold stocks, like shares of gold mining companies or gold royalty companies, which help finance mines. When the price of gold goes up, these firms are more profitable so their share price should go up as well.
Gold Ira ExplainedYou may also choose to buy a gold ETF or gold mutual funds. These funds buy up a basket of gold-related investments, like stocks in different gold mining companies. There are also funds that directly track the spot price of gold using futures trading strategies.
These investments are available in a normal brokerage IRA, meaning you wouldn’t have to go through the work and the extra costs of setting up a self-directed gold IRIf you must own the physical metal itself, then you will need a self-directed gold IRA.
A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars. Precious metals IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account.
The four precious metals allowed to be held in an individual retirement account are gold, silver, platinum and palladium, provided they are in the form of IRS-approved coin or bar products. Since gold is the most commonly purchased of the four, the overarching term "gold IRA" is used most often as industry slang to mean a retirement account containing any combination of precious metals. Other terms such as, "precious metals IRA", "silver IRA", "platinum IRA", or "palladium IRA" are also frequently used.
Investors often use precious metals as a long-term hedge against inflation, to diversify their portfolio.[1] Internal Revenue Code requirements state that the approved precious metals must be stored in a specific manner. Some trustees have their own facilities to hold the physical precious metals, while others use a third party metals depository as a storage facility.
The Taxpayer Relief Act of 1997 broadened the permissible types of investments allowed in IRAs, stating: "Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U.S. gold coins, or one-ounce silver coins minted by the Treasury Department. Beginning in 1998, an IRA can invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion."[2]
Ira Gold Rollovercompay RatingsThe IRS approves select precious metals and forms of bullion for IRAs.[3] Although investment in "Collectibles" using IRAs and Qualified Plans is not allowed,[4] there is a carve-out allowing for investment in certain coins, as well as bullion meeting certain fineness requirements.[5] Gold bars are more difficult to sell due to their higher price and easier ability to be counterfeited, as well as being more difficult to deliver due to their heaviness and the amount of security required during transport. There are currently a variety of precious metals that meet the minimum purity requirements that are acceptable for inclusion into a gold IRA account. Some gold IRA companies argue inclusion of certain coins in a precious metals IRA; however, several of those companies have been investigated by the government for misleading customers and aggressively selling numismatic coins over gold bullion. Numismatic coins pay the gold company higher commissions, but bullion bars more directly reflect the spot price of the precious metal.
The laws for taking distributions from a gold IRA are the same as those for a regular IRThe account holder may liquidate their IRA metals for cash or take physical possession of them. Both actions are akin to taking an IRA distribution and will be taxed accordingly.
To comply with IRS requirements, all IRAs, including precious metals IRAs, must leave their assets in possession of a trustee or custodian, not the owner's individual possession. IRS Publication 590 specifies that for all IRAs, "The trustee or custodian must be a bank, a federally insured credit union, a savings and loan association, or an entity approved by the IRS to act as trustee or custodian."[6] All nonbank IRA trustees must demonstrate to the IRS that they will meet Treasury standards of accounting, auditing, reporting, and asset security.
Several companies promote gold IRA arrangements based on the checkbook control strategy, where the IRA does not own the metals directly, but owns a limited liability company (LLC) through which the taxpayer purchases and stores the metals. Neither the IRS nor federal courts have taken a position on the legality of these arrangements, and the IRS has warned that they carry a risk of disqualifying the IRA.[7]
(Ad) Investing in gold is one of the best ways to protect your savings and diversify your retirement portfolio. Gold has steady growth and little volatility compared to the stock market, making it the perfect hedge against inflation.
While most IRAs consist of traditional assets such as stocks and bonds, the tax code permits you to use self-directed IRA accounts that allow you to hold precious metals such as gold and silver.
However, setting up a gold IRA can be an overwhelming process because it involves finding a gold IRA custodian, locating an approved depository to store your gold, and navigating the IRS tax rules on gold IRA accounts. That's why many investors are turning to reputable gold IRA companies to help facilitate the process for them.
The best gold IRA companies have experts that specialize in self-directed retirement accounts and can assist you with setting up your account, acquiring precious metals, and remaining compliant with the tax code.
However, setting up a gold IRA can be an overwhelming process because it involves finding a gold IRA custodian, locating an approved depository to store your gold, and navigating the IRS tax rules on gold IRA accounts. That's why many investors are turning to reputable gold IRA companies to help facilitate the process for them.
Whether you're looking to purchase gold to diversify your investment portfolio or to convert an existing retirement into a precious metals IRA, here are the top gold IRA companies.
Goldco is a privately held firm that specializes in wealth and asset protection. This company can help you transfer assets from a tax-advantaged retirement account, such as an IRA, 401(k), or 403(b), to a precious metals IRGoldco also offers direct gold and silver sales to customers.
Takking Gold Out Of IraGoldco offers both gold and silver IRAs. If you choose to invest in a gold IRA, you can purchase a range of gold IRA-approved coins to fund your account. Goldco works with mints to source high-quality coins eligible for gold IRAs, including:
Goldco can make the process of opening a gold IRA quick and easy. First, you can initiate your IRA by signing an agreement on the Goldco website. A representative from the company can help you understand the service terms and walk you through each step.
Next, you'll need to fund your IRA by rolling over assets from an existing 401(k) or another eligible account. Typically, IRA rollovers can take place without any tax penalties. You can also set up a brand new precious metals IRA, if you don’t have an existing retirement account to transfer funds from.
Once you've funded your precious metals IRA, you can choose the gold or silver you would like to purchase with your funds.
Convert Ira To GoldIf you'd prefer to invest in your retirement savings directly, you can buy physical gold and coins on the Goldco website and ship them to your preferred depository or your home. Some customers also qualify for free storage through Goldco.
Goldco offers a wide range of precious metal products for direct sale. You can purchase these coins by first signing an agreement on the Goldco website, and then funding your account with a bank wire or mail-in check.
If you're on the fence about working with Goldco, you can request a free kit to learn more about the company. This kit includes a printed guide, an audio guide, and a video guide that answers questions about:
Birch Gold Group is a physical precious metals dealer that has been in business since 2003. Since its beginnings, the company has worked with over 13,000 customers and has built up an impressive reputation, garnering an A+ Better Business Bureau rating.
Birch Gold Group sells gold, silver, platinum, and palladium in coins, bars, and rounds. You can purchase precious metals directly through the company or open a precious metals IRA.
If you're looking to open a gold or silver IRA, you can start by opening your account and choosing your funding source. You can fund your account by transferring funds from an open IRA or rolling over a 401(k) into a new, self-directed IRA precious metals specialist can help you review your accounts, transfer funds, and answer any questions you may have.
Once you fund your precious metal investment account, you can choose the precious metals you would like to purchase and decide how much of each to buy. After you purchase your precious metals, your specialist will review your order and send you a final confirmation. Additionally, your specialist can walk you through your storage options.
Birch Gold Group works with reputable depositories that you can use to store your gold, silver, platinum, and palladium coins within your IRThe company most commonly works with Brink's Global Service and Delaware Depository, which offers up to $1 billion in insurance.
Augusta works with trustworthy custodians such as Equity Trust, Gold Star Trust Company, and Kingdom Trust who can administer your new IRAdditionally, Augusta can serve as your liaison with your custodian, giving you access to the custodian at any time.
The Augusta Precious Metals website also includes a video resource library filled with helpful videos from Delvyn Steele, a Harvard-trained economist. If you're looking for insight into what's going on in the economy, these videos are an excellent resource to review.
Overall, we recommend Augusta Precious Metals for anyone looking to open a precious metal IRA with a reputable company.
Noble gold sells gold, silver, palladium, and platinum coins along with valuable rare coins. You can purchase these precious metals through an IRA or buy them directly through the Noble Gold website.
This company follows a simple process to help facilitate gold IRAs for its customers. You can get started with Noble Gold by filling out an online IRA setup form. This form only takes about five minutes to complete. If you aren't sure of all the answers, the company can call you to guide you through the process of finding the necessary information.
Next, the Noble Gold IRA team will call your new custodian to set up your account and acquire any additional paperwork you may need to complete. The company will also email you your new self-directed IRA account number.
With Noble Gold, you can either transfer assets directly from an existing custodian to your new IRA or roll over funds into your new account. You shouldn't face any tax penalties when transferring funds from one custodian to another.
Setting Up A Gold Roth IraOnce you fund your account and purchase your precious metals, you can check their status at any time through Noble Gold's custodian, Equity Institutional. This custodian offers online access to your account 24/7/365.
If you'd rather buy precious metals directly, you can take advantage of Noble Gold's Royal Survival Packs. These packs include hand-picked selections of precious metals with high levels of liquidity and recognizability. Purchasing these packs is especially helpful if you're unsure which metals to buy.
Noble Gold offers several features that set it apart as one of the best gold IRA companies. First, this provider offers some of the best gold prices on the market and provides fast, secure shipping. Noble Gold has also received hundreds of five-star reviews from satisfied customers, allowing you to feel confident in its practices.
Even better, Noble Gold offers a buyback program to every client. If your retirement goals or savings change over time, you can rest assured that the company will buy back any gold or other precious metals that you previously purchased.
Overall, Noble Gold is an impressive gold IRA company that goes above and beyond to help its clients purchase profitable investments.
You've probably heard of 401(k) and traditional IRA accounts. These retirement accounts allow you to invest in index funds, stocks, and other paper investments to fund your retirement account. However, most traditional retirement investment accounts do not allow you to invest in gold.
Gold Ira Account OffshoreThat's where gold individual retirement accounts (IRAs) come in.
Gold IRAs are specialized individual retirement accounts that hold precious metals, such as gold, silver, platinum, or palladium. Like traditional IRAs, these accounts typically allow for pre-tax contributions and have similar income and contribution limits.
However, unlike traditional IRAs and 401(k)s, which hold paper assets, gold IRAs contain physical precious metals. When you purchase precious metals through a gold IRA, you must store them outside your home, with a custodian, and in a secure depository.
A reputable gold IRA company, such as one from our list, can help you facilitate your gold purchase and walk you through the steps of opening your new gold IRA account. These companies know the ins and outs of IRS rules for retirement accounts, giving you the guidance you need to maintain a profitable portfolio. Many gold IRA companies also partner with custodians.
Investing in gold IRA accounts can provide numerous benefits for your retirement goals. Gold often provides more stable growth than paper assets, allowing you to diversify your portfolio while minimizing volatility.
Additionally, gold IRAs come with unique tax benefits. Your contributions and gains are not taxable, and in many cases, your contributions may also be tax-deductible.
Ira Funds Into GoldAll in all, investing in a gold IRA is a wise option to consider if you're looking to stabilize and diversify your portfolio. You can also consider a gold IRA rollover, in which you transfer funds from your existing IRA to a gold IRWe'll discuss this concept more below.
How we ranked the top gold investment companies
If you're looking to open a gold IRA or other precious metals IRAs, it's essential to use a reputable, trustworthy company to facilitate the process. Gold IRA investments can be expensive and choosing a questionable provider may be a costly mistake.
When we chose the five best gold IRA companies to add to our list, we searched for a range of factors that indicate that a company is reliable, knowledgeable, and reputable. Specifically, we examined the following factors while creating our list.
Companies typically develop positive or negative reputations for a reason. When searching for a gold investment company to facilitate your IRA, choosing one with a positive industry reputation can ensure that you have a positive experience overall.
One way to evaluate a company's reputation is to look the company up through the Better Business Bureau. The Better Business Bureau is an organization that allows consumers to write reviews and, often, complaints of businesses online. The Better Business Bureau also rates organizations on a scale from A+ to F, with A+ being the best rating.
Pros And Cons Of Gold And Silver IraWhen we chose the five best gold IRA companies to add to our list, we examined each company's Better Business Bureau reviews and ratings. The companies that made our list all have B or higher BBB ratings and tend to have more positive gold IRA reviews than negative ones.
Reliable precious metal IRA companies do everything they can to gain new clients, including making the setup process as easy and stress-free as possible. These companies allow new clients to set up gold IRAs within a few days or less and offer qualified assistance from investment professionals.
The gold IRA companies that made our list feature easy setup processes. These companies also allow you to talk with a specialist directly throughout your account-opening process, ensuring that you can quickly receive the guidance you need.
Most gold IRA companies charge fees for their services. These fees cover the costs involved in opening your account, maintaining your account over time, and securely holding your precious metals.
If you come across an IRA company that offers its services for free, you may not be able to trust that it will put the necessary expertise and time into facilitating a reliable gold IRAdditionally, companies offering free services often do not provide the additional assistance and knowledge you would receive from a higher quality company.
On the other end of the spectrum, companies that charge outrageously high fees may not be trustworthy either. These companies may be more focused on maximizing profits than providing quality services for customers.
When we chose the gold IRA companies to add to this list, we focused on organizations that charge reasonable fees for their services.
One of the reasons many people choose to open gold IRAs is to diversify their investment portfolios. As a result, it makes sense to work with a gold IRA company that offers a diverse selection of gold, silver, and other precious metal products.
When we chose the gold IRA companies to add to this list, we focused on organizations that charge reasonable fees for their services.
Some of the companies on our list only offer silver and gold coins but provide an extensive selection of each coin type. Other companies allow you to invest in gold, silver, platinum, and palladium in coins or bars. Additionally, one of the companies on our list—Regal Assets—also allows you to invest in cryptocurrencies.
You can feel confident that all the companies that made our list offer a varied selection of precious metal products.
Is There A Way To Purchase Gold For An IraIf you're unsure what type of precious metal to purchase within an IRA or feel hesitant about the process, you may want to work with a company that offers potential buybacks. These companies allow clients to sell their precious metals back to the companies without incurring additional fees.
The best gold IRA companies offer buybacks and make the buyback process as hassle-free as possible. These companies may even offer to ship your precious metals back to their facilities for free if you purchased them directly.
Several of the companies on our list offer easy and reliable buybacks, giving you a cushion to fall back on if you decide to sell your precious metals back to them.
Finding a broker or custodian for your gold-based IRA
Roth Ira Rolled To GoldWhen you purchase precious metal IRAs, you'll be in charge of storing the precious metals. However, the IRS does not allow gold IRA holders to keep their precious metals in their homes. Instead, your best option is to store your assets with a gold IRA custodian.
Custodians are typically credit unions, banks, brokerage firms, or other financial institutions that have gained federal approval to provide asset custody services. Sometimes, gold IRA companies recommend specific custodians, but their clients can store their precious metals with any reliable custodian.
Choosing the right custodian for your gold IRA storage may feel challenging. We recommend taking time to examine several custodians, paying special attention to their qualifications. Custodians need to have licenses, insurance, and registrations to provide reliable services and protect their assets.
You can also look at a custodian's reputation to determine its reliability. Reading reviews on the BBB website can help you understand other customers' experiences with custodians, giving you an idea of what your own experience could be.
As with traditional IRA options, you'll also need to work with a broker to invest in a gold IRThankfully, the companies on our list act as brokers by facilitating all the steps involved in purchasing precious metal IRAs.
The IRS has specific regulations about the types of precious metals consumers can hold in precious metal IRAs. Specifically, the gold, platinum, and palladium in these accounts must be at least 99.5% pure, while the silver in IRAs must be 99.9% pure.
Additionally, when you buy the gold for your IRA, you must purchase it in one, one-half, one-quarter, or one-tenth-ounce gold coins.
Working with a reputable gold IRA company can ensure that the precious metals you purchase adhere to IRS standards. However, it never hurts to check the gold you have in mind against IRS regulations before purchasing it for your IRA.
If you choose to ignore this rule and keep your gold at home, your gold will qualify as a distribution, meaning that you may face a 10% tax penalty. Additionally, you'll need to pay income taxes on the distribution, lowering the overall value you receive from the gold.
Even worse, storing your gold investment at home could lead to a tax audit, which may necessitate additional penalties from the IRS.
If you'd prefer to own gold and store it wherever you want, you may want to buy gold bullion directly from one of the gold IRA providers on our list. These companies can ship your gold right to your door and provide insurance to reduce risk during transit. Once you receive this gold, you can keep it at home, store it with a custodian, or do whatever you want with it.
As we mentioned earlier, the metals you purchase for an IRA investment must meet specific IRS standards for quality and purity. Gold, platinum, and palladium must be 99.5% pure, while silver must be 99.9% pure.
The IRS recognizes certain gold bullion and other precious metal coins as meeting these requirements. For example, the IRS accepts the following gold coins for gold IRAs:
First, most IRA providers charge an initial account setup fee that covers the work involved in creating your investment account. This fee typically ranges from $50 to $150. However, some companies waive this fee for larger investment deposits.
Next, many IRA companies charge an annual administrative fee that covers the cost of keeping your account open year after year. This fee can range from $50 to $150 and typically correlates to the size of your account.
Slott Gold Coins IraFinally, you'll need to pay a storage fee to the depository that holds your investment. Some custodians charge a flat annual fee, while others base their storage fees on the amount of gold in the account.
On top of these basic fees, IRA providers can choose whether to charge a commission for buying gold for their clients.
Unfortunately, gold IRA fees are often steeper than traditional IRAs and 401(k) fees. However, many investors find that the benefits of gold investing make these higher fees worth the cost.
When you open a gold IRA account, you will need to store your investment with a custodian, such as a bank. However, you can choose which custodian will hold your gold for you.
Some gold IRA companies work with specific depositories, making it easy to transfer your investment to those facilities. However, you can choose to work with these custodians or different ones.
Either way, we recommend asking a depository for its licenses and registrations before you trust it with your gold investment. Failing to perform these background checks may place you at risk of losing your investment entirely.
Best Place To Buy Ira GoldInvesting in a gold IRA is an excellent way to diversify your retirement portfolio and minimize the volatility of your assets. Thankfully, when you work with one of the reputable gold IRA companies on our list, you can take advantage of an easy setup process, work with an advisor with industry expertise, and choose from a wide selection of precious metal coins and bullion.
If you're still unsure which IRA provider is the best gold IRA company for your needs, we recommend requesting the free booklet from each provider and comparing the benefits and drawbacks of each organization. However, because all of these companies offer similar services, you can't go wrong choosing any of them to facilitate your gold IRA investment.
If you've been stressing about your retirement fund, investing in a gold IRA could be your answer. Check out the companies on our list today to start the process of rolling over funds from an existing retirement account to a more stable gold IRA.
Gold IRAs cater to investors who want to diversify their wealth as they save for retirement. Precious metals like silver and gold, platinum and palladium are considered hedges against inflation and stock market volatility, gold IRAs allow you to hold these precious metals in an individual retirement account. The accounts offer the same tax benefits as IRAs invested in stocks, bonds, mutual funds and ETFs.
Adding precious metals or other alternative assets to a portfolio can help reduce risk through diversification. But it’s important to keep in mind that financial advisors generally recommend allocating 5% or less of a portfolio to precious metals because gold does not pay dividends and, even with a long time horizon, gold investors have no guarantee of making money on their investment.
The top gold IRA companies offer unbiased educational resources, investor information and responsive customer support. When choosing a reputable gold IRA company, transparency and customer feedback are important tools for evaluating what kind of experience you are likely to have. Competitive pricing is another factor, as you want to avoid those with higher fees. Easy account setup is important, too.
Should I Invest In Gold In My Roth IraWe evaluated more than a dozen gold IRA companies and have highlighted the best options for investors with various needs and levels of financial sophistication. Read our gold IRA reviews and our gold IRA investing guide below to discover if one of these is the right choice to diversify your portfolio, and what you need to know before investing.
Why We Chose It: Founded in 2012, Augusta Precious Metals gives investors a wealth of information about investing in precious metals. The company offers gold and silver investment options; it uses Delaware Depository — a popular choice among gold IRA providers — to hold customer assets such as gold coins and gold bars.
Augusta Precious Metals has a lot of customer education on its site. Ironically enough, one of the attributes that makes this company rise to the top of our picks is its video-blog series of reasons why not to own gold. Many gold IRA companies use scare tactics or play on investors’ fear of a (highly unlikely) meltdown of the entire financial system and a wholesale collapse of U.S. currency.
Why We Chose It: Orion Metal Exchange says it does not charge fees for setting up an account, annual maintenance or transferring funds.
Customers can establish an account over the phone within 10 minutes. Orion says it works with all IRS-approved gold IRA custodial institutions. Online account information is available through the custodian chosen by the investor — most charge a $50 account set-up fee. Storage and insurance costs $170 a year for most gold IRAs.
The order minimum is $5,000 — some other gold IRA companies have minimums of $50,000. Orion also offers a fee-free buyback policy.
Ira American Gold BuffaloWhy We Chose It: Most gold IRA companies have websites that lack basic information about fees and other costs. Birch Gold Group, in business since 2003, is one of the few gold IRA companies we came across that includes fees on its site. We found it had the most detail about both one-time and recurring annual fees.
Birch Gold Group charges a flat-rate annual fee rather than a percentage of the account value, which could benefit large investors but might be more expensive for those with lower balances.
The company lets customers choose between Equity Trust Company and STRATA Trust Company as the account custodian, and Delaware Depository or Brink’s Global Services for their precious metals storage.
Why We Chose It: Oxford Gold Group offers comprehensive customer education resources and tools. Its website says customers can set up their account quickly, often within 24 hours. The company works with Delaware Depository and Brinks, and charges an annual fee of $180, according to the website.
Oxford Gold Group has considerable resources available for new precious metals investors, including an encyclopedia of common terms like “spot price.”
Why We Chose It: Noble Gold Investments, founded in 2016, includes an accessible blog along with a comprehensive catalog of coins and bars investors can buy.
Real-time account information is available through the gold IRA custodian. Customers pay two annual fees: An $80 account fee and a $150 fee for insurance and segregated storage, in which customers’ holdings are stored individually rather than pooled together.
In addition to Delaware Depository and Brinks, two well-known precious metals depositories, Noble Gold also has its own depository in the state of Texas, giving customers an additional choice for storing their precious metals.
Real-time account information is available through the gold IRA custodian. Customers pay two annual fees: An $80 account fee and a $150 fee for insurance and segregated storage, in which customers’ holdings are stored individually rather than pooled together.
Why We Chose It: Advantage Gold, founded in 2014, has top-notch reviews, including nearly 1,200 reviews on TrustPilot alone. Nearly all — 98% of them — are five-star.
The company sells gold, silver, platinum and palladium. It uses STRATA Trust Company and Equity Trust Company as gold IRA account custodians, and Brinks Depository and Delaware Depository vaults.
How Does The Physical Gold Ira Work?Gold IRAs function much like traditional retirement accounts, but your investment is backed with gold and other precious metals, including silver, platinum and palladium. Click below to get started.
American Hartford Gold is not on our main list because it has a larger spread between how much it pays to buy metal and how much it charges customers for that same metal than some other companies we examined.
Red Rock Secured is not on our main list because its website doesn’t have enough information about costs and fees to make a comprehensive evaluation.
Goldco is not on our main list because its time estimate to complete a rollover is up to two weeks, a longer period than some other companies take. There is a dearth of information about costs and fees on its website.
Aproved Depository For Gold Ira CoinsLexi Capital is not on our main list because its site says the company does not keep “regular” phone hours but requires exchanges or returns to be approved by phone within three days.
Patriot Gold Group is not on our main list because it employs scare tactics to sell precious metals. It has very few customer reviews on TrustPilot or the BBB.
A gold IRA is a niche investment product. This specialized IRA can help diversify a portfolio because precious metals, including gold, are often considered an investment to beat inflation. But make sure to do your due diligence when researching whether a precious metals IRA account makes sense for part of your retirement funds.
Many of these companies allow investors to buy precious metals that include silver, platinum and palladium in their IRAs in addition to gold. A gold IRA is distinctive because the account holder owns the actual precious metals, as opposed to stocks or shares of funds in mining companies.
Like a traditional IRA where you might hold stocks, bonds or mutual funds, a gold IRA is a tax-preferred investment vehicle — and the only option for holding precious metals in an IRYou might also come across the term “precious metals IRA” used instead of gold IRAlthough the former is technically accurate, the phrase “gold IRA” is the one that tends to stick in the public imagination.
Gold IRAs are classified by the Internal Revenue Service as self-directed IRAs. According to IRS regulations, self-directed IRAs can hold alternative investments such as precious metals. (In their tax treatment, a gold IRA is different from a Roth IRA, which is an after-tax savings vehicle. See Money's picks for best Roth IRA accounts.)
The process of setting up a gold IRA involves several parties. First, you open up the account and buy precious metals from a company like the ones highlighted here. If you elect to fund the account with assets currently in another IRA, the gold IRA company will help you manage the rollover (more on that process below).
The gold IRA company also coordinates the involvement of the financial firm tasked with being the account custodian, as well as the depository institution where the precious metals you purchase are held. (You are not allowed, per IRS rules, to keep IRA gold at home.)
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