The Best Gold IRA for Investors

  • Gold-backed IRAs allow investors to purchase gold indirectly.
  • A gold-backed IRA is a self-directed IRA that owns physical gold.
  • The IRS does not allow individuals to own physical gold, even within a retirement account. However, gold-backed IRAs allow investors to purchase gold indirectly.

Gold has long been considered a reliable store of value, one that can offset the risks associated with investing in the stock market. But bullion isn't an investment class that is available to everyday investors. The Internal Revenue Service (IRS) doesn't allow individuals to own physical gold, even within a retirement account.
For investors who want to purchase gold for their retirement account, gold-backed IRAs represent the best option available, as they allow investors to purchase gold indirectly.

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New Gold IRA Rules

The tax code has also changed recently, which opens up new choices for investors.
Investors can now place up to $15,000 per year in gold IRAs, up from $5,000 previously. This has opened up gold as an investment for many Americans.

Gold Bullion and Gold Bars

Bullion bars and coins sound similar, but their actual investment purposes are different. Bullion bars are gold that has been melted, pressed, and cast into bars. In contrast, coins come from mints and are minted for collectors.
Investors use gold bullion bars and coins for gold investment storage. Bullion bars are safer to store than coins because they aren't susceptible to coin collecting tendencies.

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Other Gold Storage Options

If you were to buy physical gold, you'd have to store it somewhere. While you could hold on to the bars and coins at home, an inconvenient, time-consuming, and costly option, you could also store it in a safe deposit box at a bank. With this option, you wouldn't have to think about the gold's security, but you would have to think about the storage fees.

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Gold IRA Rollovers

This type of gold IRA typically involves using traditional paper assets (stocks, bonds, mutual funds, etc.) and then transferring those assets into a gold-backed IRA.
For example, an investor who owns stocks and bonds worth $200,000 who wishes to convert a portion of that portfolio into gold could sell the stocks and bonds from their brokerage account to a precious metals dealer, with a check or wire transfer from the brokerage company.
The investor then deposits the check or wire into their designated precious metals IRA. Once the metals are added to their IRA, they can then be bought and sold just like traditional paper assets.

Gold IRA Advisory Services

This company offers gold storage, precious metals IRAs, and retirement solutions.

Gold IRA Rollover Services
This company provides precious metals IRA rollovers, as well as retirement planning and assistance.

American Bullion
This gold IRA company offers storage, IRA rollovers, and retirement services.

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Gold IRA Fees

When it comes to gold IRAs, you shouldn't have to pay extra fees. Any reputable gold IRA provider should be able to provide this service for free. However, some providers may charge you for transferring assets to or from your gold IRA. You should look out for this clause when shopping for a gold IRA provider.

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Gold IRA: Should You Open One To Save For Retirement?

The Bottom Line

Investing in gold is a popular choice for investors looking to diversify their portfolios. Gold offers protection against inflation, and historically, gold prices tend to go up in value when economic conditions are unstable. It's wise to pick a company with a good track record and a solid reputation.