Home Storage Gold IRA Reviews: Choose Wisely

• Home storage gold IRA companies work much like traditional gold IRA custodians.
• Home storage gold IRA companies charge setup fees to set up a precious metals IRA.
• Investors looking to invest in an IRA can find dozens of custodians to choose from.

With gold now trading at over $1,750 per ounce, investors need to know they can store their gold safely. With ongoing concerns over the safety of banks, there's never been a better time to store your gold at home. Home storage gold IRA companies allow you to store gold safely at home, and with IRA rules allowing precious metals to be stored in home safes, home storage gold is growing in popularity.

Pros Explained

• A home storage gold IRA can be set up with as little as $5,000.

• No minimum balance is required.

• There are no annual account maintenance fees.

• Gold is allocated and stored in a Brink's vault.

• The account owner controls the allocation and management of the account.

• The account owner may buy and sell gold bullion at any time.

• The account owner can roll over individual retirement accounts (IRAs).

• 24/7 access, with online account access.

• Free brochure.

• Free account review.

• Free IRA rollover.

• 90-day money-back guarantee.

Cons Explained
There are some risks that must be taken into consideration when setting up and using a home storage gold IRA.

• Most gold IRA companies only offer 1-year storage.

• Fees are high.

• Many offer virtually no information on the company's policies or procedures.

Cons Explained

You need to read the fine print.
Some plans require a minimum investment of $10,000.

Some plans charge high annual management fees and storage fees.

Some plans require you to make a minimum storage commitment.

Some plans are not FDIC insured.

What Is Home Storage Gold IRA?

Home Storage Gold IRA is a subsidiary of Goldco Precious Metals, a national full-service precious metals dealer headquartered in Utah. Home Storage Gold IRA offers self-directed precious metals retirement accounts, including individual retirement accounts (IRAs), Roth IRAs, and 401(k)s. The company offers three types of accounts:
Gold IRA: These metal-backed retirement accounts hold gold as a primary asset.

Silver IRA: These metal-backed retirement accounts hold silver as a primary asset.

Platinum IRA: These metal-backed retirement accounts hold platinum as a primary asset.

Home Storage Gold IRA also sells physical precious metals such as gold, silver, and platinum, as well as numismatic coins.

How Does Home Storage Gold IRA Work?

The Home Storage Gold IRA company offers several different types of IRA accounts, including:
Gold IRA

Silver IRA

Platinum IRA

Palladium IRA

IRA Share Account

Precious Metals IRA Account

Most of the companies provide precious metals IRAs, but not all of them have storage options available. Those who don't provide their own storage typically store IRAs in third-party vaults.

What Gold and Silver Prices Are Used?

Each of the companies reviewed here uses three price points to determine the price of precious metals:
The day's price at 5 p.m. EST

The 4 p.m. price

The price 15 minutes before 5 p.m.

These are three price points that determine how much you pay in value-added fees. The 15-minute price is used most often, as this is the price that is used to determine the premium you pay for buying physical metals.

Should I Use Gold or Silver?

For a traditional gold IRA, you'll use the actual metal, usually in the form of gold coins or bars.
For a silver IRA, you'll use silver coins or bars.

Should I Use Paper Gold or Physical Gold?
Paper gold is gold that hasn't actually been mined yet. It exists as numbers on a computer screen and is represented by a certificate.

The advantage of paper gold is that it's less expensive to store and easier to transact. However, it also lacks some of the inherent value of physical gold.

Physical gold can be extremely valuable, especially if it's rare or of historical importance. However, it's also more difficult to store and transact.

Should I Use Bullion or Collectible Coins?
Bullion coins are valued for their bullion content. Collectible coins are valued for their rarity or historical value.

Bullion coins are usually made of gold or silver and are stamped with "bullion" or "gold" or "silver" on the reverse side.

Collectible coins, on the other hand, are often made of silver or gold, but although stamped, are not recognized as bullion coins.

Should I Use a Self-Directed IRA or Custodians?
A self-directed IRA is an account that an individual maintains on their own.

A custodian is a company that stores and manages your IRA's investments for you.

What Are Other Types of IRAs?

Traditional IRA: This type of IRA allows for contributions to be made with post-tax income, meaning the funds grow tax-deferred.
Roth IRA: A Roth IRA tax-deferred account allows contributions to be made with after-tax income.
SEP IRA: A SEP IRA is a type of IRA that allows self-employed individuals to contribute to a retirement plan.

Why Should I Open an IRA?

There are several reasons to open an IRA, and while many people contribute to them for retirement, there are actually other reasons for opening a self-directed IRA.
For residents of states where it is legal to purchase gold bullion for investment purposes, an IRA is a great way to buy gold bullion.
The Internal Revenue Service (IRS) rules state that gold bullion may be held in an IRA.

Gold bullion is attractive for many investors because it is tangible, portable, and divisible.

The Internal Revenue Service (IRS) rules state that gold bullion may be held in an IRA.

Gold bullion can be held in a precious metals IRA, and many custodians offer such accounts.

However, there are specific rules for holding gold bullion in an IRA, and many IRA custodians do not permit such accounts.