Why Invest In A Gold IRA

Gold IRA could be a potential way of investing that is right for you. Learn all about the benefits, facts and advantages of a Gold IRA without bias and prejudice!

Gold IRA Companies

Please select one of the companies to know about their GOLD IRA offerings

Advantage Gold

Advantage Gold is one of the newer gold IRA companies, but it already has thousands of happy investors. The company helps build long-term wealth by providing personalized investment advice to its customers. Its First-Time Gold Investor Program is the perfect starting point for investors who are new to investing in silver and gold IRAs.

Aside from US IRA-approved precious metals, the company also sells Canadian mint coins and bars. Advantage Gold already has hundreds of verified 5-star reviews on TrustLink and TrustPilot. It also won the Best of TrustLink Prize three years in a row, signifying its dependability.
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Augusta Precious Metals

Augusta Precious Metals is a family-owned company that specializes in trading precious metals. It has been in business for over 50 years and has helped hundreds of customers secure their retirement with silver and gold IRAs.

Augusta Precious Metals sets itself apart from other gold IRA companies by providing each client with a dedicated manager. The managers build long-term relationships with clients and provide guidance tailored to match each customer’s needs.

Setting up an IRA account and rolling over existing retirement plans is easy with August Precious Metals. Customers can get help with diversifying their assets to defend against inflation and economic turmoil. Learn more.

Birch Gold Group

The Birch Gold Group started in 2003 and has since then served over 7,000 customers. Unlike many other gold IRA companies, Birch Gold has no customer complaints on Better Business Bureau, TrustLink, or Business Consumer Alliance. Many of its clients have instead rated it five stars for its customer-oriented services and competitive rates.

On its website, you can invest in silver and gold IRAs to secure your retirement. Each customer is assigned a precious metals specialist to guide them through the IRA setup process and provide them with smart investment tips. The website also offers various educational materials on investing in precious metals and self-directed IRAs.

Gold Co.

Goldco specializes in IRA and 401(k) rollovers. The company started in 2006, but its executives have over 100 years of combined experience in the precious metals industry. Compared to other gold IRA companies, its operations are transparent, and its IRA rollover process is hassle-free.

Aside from silver and gold IRAs, Goldco offers SEP IRAs and SIMPLE IRAs. You can get information about the best IRA for your retirement plans from the company’s extensive educational materials. Alternatively, get personalized investment advice from a dedicated manager.

The company’s track record is impressive with a Better Business Bureau A+ rating and a 4.8 stars rating on TrustLink. Learn more here.

Lear Capital

Lear Capital is a one-stop online platform for long-term precious metal investments. It competes with other gold IRA companies by offering a user-friendly website that meets the unique needs of online investors, including real-time pricing on the most profitable precious metals and providing clients with specialists to help them make the best investment decisions.

The company has served customers for over two decades and has completed over $3 billion in precious metals transactions. Also, Lear Capital’s hassle-free IRA registration process and no-fee buyback program make investing in silver or gold IRAs attractive. The company currently boasts a 4.5-star rating on TrustLink and a 4.7-star rating on Trustpilot.

Noble Gold

Noble Gold Investments is a California-based business that offers precious metal and self-directed IRA services. Depending on your investment needs, the company can sell you gold, silver, palladium, and platinum coins, or silver and gold IRAs.

The company stands out from other gold IRA companies by providing transparent and customer-oriented services. Clients also benefit from its low IRA maintenance fees and no-quibble buyback policy, allowing clients to sell gold from their IRA account quickly and at a competitive rate.

If funding your precious metals IRA account, Noble Gold Investments simplifies the process by letting you roll over your 401(k) or another retirement account into your gold IRA. Learn more here.

Orion Metal Exchange

Orion Metal Exchange is Retirement Living’s 2020 top-rated full-service precious metals firm. Consumer Affairs also rated the company the Top Gold IRA Precious Metals Company of 2017 and 2018.

Orion Metal Exchange’s online platform is a safe and user-friendly market for trading gold, platinum, palladium, and silver coins and bars. Customers can also sign up for silver or gold IRAs. It’s older than most other gold IRA companies with over five decades of experience in the precious metal industry.

Unlike its competitors, Orion Metal Exchange charges no setup or IRA transfer fees and offers free precious metals storage for up to three years. Learn more.

Oxford Gold Group

The Oxford Gold Group is in California but sells precious metals and gold IRAs to customers across the US. The company specializes in making buying and selling gold, silver, platinum, palladium, and self-directed IRAs as accessible as possible.

For every transaction, customers deal directly with a company manager who is also a precious metals specialist. The approach eliminates costly commissions and ensures that customers get the best service possible to achieve their investment goals.

The Oxford Gold Group is younger than most other gold IRA companies but already has hundreds of happy customers. Many of these customers have rated it 5-stars on Trustpilot, and the company enjoys an A+ rating on the Better Business Bureau.

Patriot Gold Group

Patriot Gold Group outshines several other full-service gold IRA companies when it comes to setting up precious metals IRA accounts. Within a day, you can have your self-directed IRA running and ready for funding.

Aside from its fast IRA setup service, the company wins over customers with its “no fees for life” precious metal IRA policy. Also, customers that open new silver or gold IRAs get a free Gold IRA Investor Guide and can receive up to $2,500 in free gold coins.

Another attractive feature of the Patriot Gold Group is its 401(k) and IRA Rollover department, which helps customers fund their IRA tax-efficiently. Read more here.

Regal Assets CA

Regal Assets is one of the best rated gold IRA companies on the market. For its quality services, it has received high praise from Forbes, Bloomberg, Smart Money, and other leading publications.

Starting a silver or gold IRA account with the company is simple, and its fees are competitive. Aside from silver and gold IRAs, you can buy and sell cryptocurrencies and precious metals. Regal Assets’ Better Business Bureau A+ rating and TrustLink 5-star rating show that hundreds of customers are happy with their services.

Rosland Capital

Rosland Capital is a precious metals dealer with over two decades of experience in the industry. Celebrities, such as Bill O’Reilly and William Devane, endorse its services. Aside from US customers, the company serves investors in Germany, London, Hong Kong, and Sweden.

Rosland Capital sells gold, silver, and platinum bars, bullion coins, premium coins, and exclusive specialty coins. Being a full-service precious metals supplier, the company also sells silver and gold IRAs.

Compared to other gold IRA companies, Rosland Capital’s online customer reviews are underwhelming. It has a 3.8-star rating on TrustLink, and there are several complaints about the company’s agents selling overpriced coins to clients. Find out more here.

Everything You Need to Know About Gold IRAs

The previous decade has been exceptionally rocky when it comes to investing and retirement planning. From the aftermath of a financial crisis that rocked the world and unstable stock market trends to unforeseen developments like the COVID-19 pandemic and its deep economic impacts, alternatives to traditional IRAs are gaining traction as investors seek a more stable and secure vehicle for their retirement investments.

More investors than ever are broadening the diversity of their portfolios by adding Gold IRAs.

Perhaps you have heard of Gold IRAs but do not really have a handle on what sets them apart from their traditional counterparts. In this guide, we offer some key facts and benefits of Gold IRAs, as well as advice on getting started. If you think your portfolio needs diversification and are considering other options, this guide is for you.

What is a Gold IRA?

A Gold IRA, or Gold Individual Retirement Account, is a self-directed retirement account that allows for investing in gold and other precious metals in the physical form of bullions and coins. Traditional IRAs mostly focus on investments in stocks and bonds, and IRS restrictions make it impossible for individuals to add precious metals to their portfolio in physical form.

The use of gold and other precious metals as securities become possible in 1997 when Congress passed legislation allowing for such practice. It was an effort spearheaded by Edmund C. Moy, the chief strategist for Fortress Gold. Previously in his career, Moy worked as the United States Mint Director, overseeing the largest production of gold and silver coins in the world.

Since then, financial institutions offering IRA solutions started to include a Gold IRA product as part of their portfolio of services. The product did not initially catch on as a mainstream retirement account option. These days, however, Gold IRAs are enjoying newfound popularity and are more viable than ever.

vault representing gold ira security
vault representing gold ira security

Gold IRAs: A Post-Financial Crisis Trend

The 2008 Global Financial Crisis triggered a massive avalanche of economic disasters. Millions of people were negatively affected by it, many of whom lost a significant portion of their investments intended for retirement. The sensitivity and caution of investors were at an all-time high, and the need for more stable and secure investment options was evident, especially concerning retirement accounts.

Gold IRAs were hardly new yet for many years failed to gain traction due to their complicated rules, which made them less attractive than traditional IRAs. The change started once long-term stability and crisis-proof investing became a significant factor in investor decision making.

In general, the price of gold has an inverse relation to the price of paper assets. Thus, Gold IRAs offer a safer way to invest funds without concern for the cost of inflation or general geopolitical situations around the world. With that in mind, financial institutions found ways to offer Gold IRAs to regular customers, along with sound advice on how to set them up and run them.

Increased economic instability and unpredictable risk factors still paint a somewhat tumultuous future for investing, with plenty of crisis periods of varying degrees still to come. Gold IRAs will continue to gain ground if this trend continues.

Benefits of a Gold IRA

Before deciding to go all-in on a Gold IRA, it is imperative to understand the primary benefits of having a Gold IRA account versus a regular IRA.

The Rising Price of Gold

Gold experienced a considerable growth spurt from 1999 until 2011, when it went from $255 per ounce to upwards of $1,800. A 700% growth rate over a decade is awe-inspiring and something neither the stock market nor other investment options could ever replicate. Even more impressive is the fact that none of the major investment crises that took place during the same period harmed the price of gold.

It is important to note that since 2011, the price of gold has leveled off. Since June 2020, it has been going for about $1,700 per ounce. Further growth is inevitable, especially once the long-term effects of the COVID-19 pandemic on the economy become more apparent and the stock markets respond accordingly.

Long-term Safeguard and Protection

Because gold is a precious metal that comes with an inherent value, inflation does not erode the value of gold the same way it erodes the value of the dollar. This makes it a perfect safeguard against inflation. If we take into account that the price of gold goes in the opposite direction of paper assets, a future crisis might increase the value of your Gold IRA portfolio rather than hurt it.

Also, your investment in gold in the form of bullion and coins is safe even in the event of a stock market collapse.

Diversification

Probably the best advice you can ever get is to diversify your investment portfolio to minimize the risk of having a negative return on your investments in the long run. There are plenty of ways to diversify but investing in gold is becoming a new favorite among risk-averse investors. Gold IRAs allow investors to put away a portion of their investment funds into precious metals that have inherent value over paper assets.

Tax Benefits

Like all IRA products, a Gold IRA offers tax benefits to investors. As long as gold stays in your Gold IRA and you do not take physical possession of the bullion and coins, your investment will be safe from taxes and duties.

Things to Be Aware of Before Opening a Gold IRA

Gold IRAs do come with some significant challenges and procedures that may help determine whether they are the right financial option for you. Therefore, we believe it is vital to understand some of the challenges you might face when it comes to investing in a Gold IRA and how to deal with its idiosyncrasies.

Fees and Expenses

We already mentioned that Gold IRAs are quite specific and require a complicated procedure to set up and run. Unfortunately, that will always carry over to the cost of having a Gold IRA. On average, the fees and expenses for running a Gold IRA or purchasing and selling gold bullions and coins are higher than the costs associated with traditional IRAs.

This is understandable given that the Gold IRA holder needs to pay for the services of a custodian and other financial caretakers. The good news is that fees and expenses are going down as the Gold IRA gains more popularity.

No Yield, No Dividends, No Interest

Unlike regular stocks in traditional IRAs, gold does not pay dividends or interest. On the one hand, you might be missing out on the additional value that interest, yield, and dividends offer (albeit at a much higher exposure to risk).

Fraud and Theft

By deciding to open a Gold IRA, you are primarily hiring a custodian whose role is to take care of the transactions, records, and storage of gold bullion and coins on your behalf. This leaves a lot of room for potentially fraudulent behavior on the part of the custodian. The best way to avoid getting caught up in any theft or other fraudulent proceedings is to do your homework and carefully choose the right custodian to insure all of the transactions made in your name.

Things to Be Aware of Before Opening a Gold IRA

Gold IRAs do come with some significant challenges and procedures that may help determine whether they are the right financial option for you. Therefore, we believe it is vital to understand some of the challenges you might face when it comes to investing in a Gold IRA and how to deal with its idiosyncrasies.

Fees and Expenses

We already mentioned that Gold IRAs are quite specific and require a complicated procedure to set up and run. Unfortunately, that will always carry over to the cost of having a Gold IRA. On average, the fees and expenses for running a Gold IRA or purchasing and selling gold bullions and coins are higher than the costs associated with traditional IRAs.

This is understandable given that the Gold IRA holder needs to pay for the services of a custodian and other financial caretakers. The good news is that fees and expenses are going down as the Gold IRA gains more popularity.

No Yield, No Dividends, No Interest

Unlike regular stocks in traditional IRAs, gold does not pay dividends or interest. On the one hand, you might be missing out on the additional value that interest, yield, and dividends offer (albeit at a much higher exposure to risk).

Fraud and Theft

By deciding to open a Gold IRA, you are primarily hiring a custodian whose role is to take care of the transactions, records, and storage of gold bullion and coins on your behalf. This leaves a lot of room for potentially fraudulent behavior on the part of the custodian. The best way to avoid getting caught up in any theft or other fraudulent proceedings is to do your homework and carefully choose the right custodian to insure all of the transactions made in your name.

How to Open a Gold IRA

If you have already weighed the pros and cons and are still interested in opening a Gold IRA, the following will walk you through the process of doing so. Although we have outlined only four steps, bear in mind that each is very important and requires a lot of research and preparation on your part to get right.

Start with a Self-directed IRA

The first step to getting your hands on some gold is to open a self-directed individual retirement account with a financial institution of your choice. Self-directed IRAs, or SDIRAs, open up many possibilities for those who want to invest in things beyond the usual cash, stocks, and bonds. SDIRA allows for investing in rental properties and private companies as well as bullion and coins.

Once you find the right financial institution for your SDIRA, you will need to choose between a traditional IRA or a Roth IRA (401k) type of account. Both options have pros and cons, and a bit of research is crucial when deciding which option better suits your investment plans and goals.

Bear in mind that most of the traditional companies that provide IRAs might not have an SDIRA option for their customers. You will need to look around and find those companies that do. More often than not, such companies will have years of experience specializing in SDIRAs. Make sure that the company is trustworthy and familiarize yourself with any fees and expenses they charge before you open up an account.

Choose a Custodian

The second step is unique to SDIRA investment accounts and is an IRS requirement: choosing a custodian for your Gold IRA. A custodian is an official entity with the necessary licenses for administrating SDIRAs and storing gold and other precious metals purchased as an investment. A custodian must report all transactions and administrative changes to the IRS and other relevant institutions.

Some brokerage firms will also offer custodian services for their SDIRAs. Custodians take on a passive role, as they merely oversee and report all transactions and activity associated with the account in question. This does not mean that a custodian makes any purchases on behalf of the client or is in any way responsible for the SDIRA to meet IRS requirements. All of that remains the responsibility of the client and whichever broker they have chosen to handle the purchasing of gold and other precious metals.

There are six major factors to consider when evaluating potential custodians for your Gold IRA:

  • License: The IRS requires that all custodians handling SDIRAs such as Gold IRAs have a special license to perform that job on behalf of clients. If you are considering a custodian who does not have the necessary license and credentials, you risk not only losing your investments but also the possibility of facing legal action and suffering further financial consequences.
  • Fees: This is the most important and most challenging factor to evaluate. Most custodians have differing price lists spelling out their fees and expenses. Transparency is a must in this area. If a custodian does not clearly outline all of their fees and expenses, and you cannot understand them, it might be a good idea to look elsewhere. Things like custodian fees, storage fees, and cash-out fees are something that can significantly affect the outcome of your investment, so study them wisely.
  • Track Record: Make sure that the company you are hiring as a custodian has a stellar record when it comes to providing custodial services in the past. The Better Business Bureau or Business Consumer Alliance can provide you with valuable information in this regard.
  • Flexible: Custodians willing to go out of their way to accommodate your needs and offer customizable services and options are much better suited for individual investors. A one-size-fits-all approach is more often a sign of weakness.
  • Expertise and Knowledge: By choosing the right custodian, you can be confident in working with a company that excels in dealing with Gold IRAs. Plenty of brokerage firms will try to bundle a Gold IRA custodian service in their portfolio. It is far better to trust your money with people who specialize in these types of investments.
  • Proactive Approach: Finally, you need a custodian that will take an interest in your Gold IRA, try to provide reliable advice, and point out any potential problems and issues you might encounter. To be sure, custodians are passive overseers, but those that take an active interest and try to offer something more to their clients are usually keepers.

How to Open a Gold IRA

If you have already weighed the pros and cons and are still interested in opening a Gold IRA, the following will walk you through the process of doing so. Although we have outlined only four steps, bear in mind that each is very important and requires a lot of research and preparation on your part to get right.

Start with a Self-directed IRA

The first step to getting your hands on some gold is to open a self-directed individual retirement account with a financial institution of your choice. Self-directed IRAs, or SDIRAs, open up many possibilities for those who want to invest in things beyond the usual cash, stocks, and bonds. SDIRA allows for investing in rental properties and private companies as well as bullion and coins.

Once you find the right financial institution for your SDIRA, you will need to choose between a traditional IRA or a Roth IRA (401k) type of account. Both options have pros and cons, and a bit of research is crucial when deciding which option better suits your investment plans and goals.

Bear in mind that most of the traditional companies that provide IRAs might not have an SDIRA option for their customers. You will need to look around and find those companies that do. More often than not, such companies will have years of experience specializing in SDIRAs. Make sure that the company is trustworthy and familiarize yourself with any fees and expenses they charge before you open up an account.

Choose a Custodian

The second step is unique to SDIRA investment accounts and is an IRS requirement: choosing a custodian for your Gold IRA. A custodian is an official entity with the necessary licenses for administrating SDIRAs and storing gold and other precious metals purchased as an investment. A custodian must report all transactions and administrative changes to the IRS and other relevant institutions.

Some brokerage firms will also offer custodian services for their SDIRAs. Custodians take on a passive role, as they merely oversee and report all transactions and activity associated with the account in question. This does not mean that a custodian makes any purchases on behalf of the client or is in any way responsible for the SDIRA to meet IRS requirements. All of that remains the responsibility of the client and whichever broker they have chosen to handle the purchasing of gold and other precious metals.

There are six major factors to consider when evaluating potential custodians for your Gold IRA:

  • License: The IRS requires that all custodians handling SDIRAs such as Gold IRAs have a special license to perform that job on behalf of clients. If you are considering a custodian who does not have the necessary license and credentials, you risk not only losing your investments but also the possibility of facing legal action and suffering further financial consequences.
  • Fees: This is the most important and most challenging factor to evaluate. Most custodians have differing price lists spelling out their fees and expenses. Transparency is a must in this area. If a custodian does not clearly outline all of their fees and expenses, and you cannot understand them, it might be a good idea to look elsewhere. Things like custodian fees, storage fees, and cash-out fees are something that can significantly affect the outcome of your investment, so study them wisely.
  • Track Record: Make sure that the company you are hiring as a custodian has a stellar record when it comes to providing custodial services in the past. The Better Business Bureau or Business Consumer Alliance can provide you with valuable information in this regard.
  • Flexible: Custodians willing to go out of their way to accommodate your needs and offer customizable services and options are much better suited for individual investors. A one-size-fits-all approach is more often a sign of weakness.
  • Expertise and Knowledge: By choosing the right custodian, you can be confident in working with a company that excels in dealing with Gold IRAs. Plenty of brokerage firms will try to bundle a Gold IRA custodian service in their portfolio. It is far better to trust your money with people who specialize in these types of investments.
  • Proactive Approach: Finally, you need a custodian that will take an interest in your Gold IRA, try to provide reliable advice, and point out any potential problems and issues you might encounter. To be sure, custodians are passive overseers, but those that take an active interest and try to offer something more to their clients are usually keepers.

How to Purchase Bullion

With your SDIRA set up and a custodian in place, it is time to start investing. Before you can purchase any gold, you need to fund your SDIRA. The procedure, in this case, is identical to what regular IRA products require. You will deposit the funds into your SDIRA in preparation for investing.

This next part is crucial. Under NO CIRCUMSTANCE should you make purchases from a precious metal dealer directly! This is strictly prohibited by the IRS and your custodian should be more than equipped to handle it. You need to inform the custodian about the purchase you would like to make, at which point they will use your SDIRA and available funds to make a purchase.

Custodians often have metal dealers they work with frequently and can recommend with confidence. Do your research and make sure that you are getting the best value by using them. Once your bullions or coins are ready, the custodian will store them accordingly.

How to Store Bullion in Gold IRA

The storage of gold and other precious metals is another key issue in need of handling. The IRS strictly prohibits the personal storage of gold and precious metals. The gold needs to be moved and stored in an IRS-approved storage facility. Your custodian in most cases already has several IRS-approved facilities they use to store gold and other precious metals.

No home safes or lockboxes! This can only land you in trouble and lead to financial and legal penalties. A licensed custodian is the only one qualified to purchase, handle, and supervise your physical assets.

IRS Fineness Standards

Traditional IRAs used to allow for the purchase of bullion or coins of gold and silver. The 1997 legislation passed by Congress expanded the options with regard to precious metals, resulting in the addition of platinum and palladium to the list of precious metals for IRA investments.

This does not mean that individuals can purchase gold or platinum in any form they like or from any particular dealer. It is much more complicated than that. The IRS has a stringent policy and fineness standards that all metals are required to meet. Below are the general rules that all precious metals should fulfill for use in Gold IRAs.

  • Gold of 99.5% purity and above.
  • Silver of 99.9% purity and above.
  • Platinum and palladium of 99.95% purity and above.
  • Bars, rounds, and coins must come from an accredited/certified list of refiners and manufacturers, such as NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 9000, or national government mint, and meet minimum fineness requirements.
  • Proof coins should be in new, unopened, mint packaging, which includes a certificate of authenticity.
  • Small bullion bars should meet the manufacturing required dimension.
  • Proof coins should be in perfect condition and show no signs of damage.

Approved Precious Metals in a Gold IRA

We already mentioned that aside from gold and silver, platinum and palladium are also eligible for investment under a Gold IRA model. We also covered the fineness standards required for each of these precious metals. Still, the IRS will allow only approved valuable metal coins and bullion. Here is the list of approved coins and bullion:

IRS-Approved Gold and Silver

  • American Gold Eagle bullion coins
  • American Gold Eagle proof coins
  • American Silver Eagle bullion coins
  • American Silver Eagle proof coins
  • Canadian Silver Maple Leaf coins
  • Canadian Gold Maple Leaf coins
  • British The Queen’s Gold Beasts
  • British The Queen’s Silver Beasts
  • Mexican Libertad Silver coins
  • British gold Shēngxiào Lunar Series
  • British silver Shēngxiào Lunar Series
  • Canadian Gold Maple Leaf coins
  • Austrian Gold Philharmonic coins
  • Austrian Silver Philharmonic coins
  • Chinese Gold Panda coins
  • Chinese Silver Panda coins
  • Australian Gold Kangaroo/Nugget coins
  • Australian Silver Kookaburra coins
  • British Gold Britannia coins
  • British Silver Britannia coins
  • American Gold Buffalo uncirculated coins
  • NYMEX or COMEX-approved gold bars and rounds
  • NYMEX or COMEX-approved silver bars and rounds

IRS-Approved Platinum and Palladium

 

  • American Platinum Eagle proof coins
  • British The Queen’s Beasts Platinum coins
  • Isle of Man Noble Platinum coins
  • Australian Platinum Koala coins
  • American Platinum and Palladium Eagle coins
  • NYMEX or COMEX-approved platinum and palladium bars and rounds
  • Canadian Platinum and Palladium Maple Leaf coins

Approved Precious Metals in a Gold IRA

We already mentioned that aside from gold and silver, platinum and palladium are also eligible for investment under a Gold IRA model. We also covered the fineness standards required for each of these precious metals. Still, the IRS will allow only approved valuable metal coins and bullion. Here is the list of approved coins and bullion:

IRS-Approved Gold and Silver

  • American Gold Eagle bullion coins
  • American Gold Eagle proof coins
  • American Silver Eagle bullion coins
  • American Silver Eagle proof coins
  • Canadian Silver Maple Leaf coins
  • Canadian Gold Maple Leaf coins
  • British The Queen’s Gold Beasts
  • British The Queen’s Silver Beasts
  • Mexican Libertad Silver coins
  • British gold Shēngxiào Lunar Series
  • British silver Shēngxiào Lunar Series
  • Canadian Gold Maple Leaf coins
  • Austrian Gold Philharmonic coins
  • Austrian Silver Philharmonic coins
  • Chinese Gold Panda coins
  • Chinese Silver Panda coins
  • Australian Gold Kangaroo/Nugget coins
  • Australian Silver Kookaburra coins
  • British Gold Britannia coins
  • British Silver Britannia coins
  • American Gold Buffalo uncirculated coins
  • NYMEX or COMEX-approved gold bars and rounds
  • NYMEX or COMEX-approved silver bars and rounds

IRS-Approved Platinum and Palladium

 

  • American Platinum Eagle proof coins
  • British The Queen’s Beasts Platinum coins
  • Isle of Man Noble Platinum coins
  • Australian Platinum Koala coins
  • American Platinum and Palladium Eagle coins
  • NYMEX or COMEX-approved platinum and palladium bars and rounds
  • Canadian Platinum and Palladium Maple Leaf coins

Gold IRA Rollover

If at any point you decide that you would like to roll over your traditional IRA account into a Gold IRA, this is possible. There are two ways to do it: one direct and the other indirect. A direct rollover connects the custodian of your traditional IRA and the custodian of your Gold IRA, and they complete the transaction by transferring the funds from one IRA to another.

The second option is to use an indirect rollover. This means that the custodian of the original IRA will send you a check (performing a cash-out for you from the previous IRA). You can then take the check and deposit the funds into your Gold IRA.

This procedure has a 60-day deadline. If an investor fails to complete the transaction within that period, then the transaction will not count as a rollover but rather as an IRA withdrawal. IRA withdrawals automatically catch the attention of the IRS, and you will be subject to taxes and fees.

Conclusion

We hope this guide managed to answer your burning questions about Gold IRAs and to help you understand whether they are the right option for you.

On the one hand, they offer unparalleled security and safeguarding of your funds and are therefore an excellent option for diversifying your portfolio. Global trends show that the price of gold is on the rise, and that this is not likely to change anytime soon. Although certain other options might offer higher returns, interest, dividends, and yield, they do come with significant risk compared to Gold IRAs.

To make sure that your Gold IRA is in good hands, you need to choose your custodian wisely. You should be looking for a custodian with an impeccable reputation that specializes in Gold IRAs and has a proactive approach to working with investors.

If you would like to know more about Gold IRAs and how they can further diversify your investment portfolio, please don’t hesitate to contact us!