Find the Best Gold Dealers for Your IRA

  • Gold prices have been flat to down for most of the last 20 years, but that isn't indicative of gold's long-term performance.
  • Gold is uncorrelated with stocks and bonds, making it a useful diversifier.
  • Gold is one of the most popular safe havens.
  • For investors looking to diversify their IRAs, a gold IRA can provide that additional bit of stability against volatility.
  • Investors looking to diversify their IRAs can use a gold IRA to gain exposure to gold, which has historically been a more stable asset than stocks and bonds.
  • The gold market offers a variety of vehicles for investing in gold.
  • Physical gold can be cumbersome and difficult to liquidate, and its value can be volatile.
  • Fs, or exchange-traded funds, offer investors exposure to gold through one investment, avoiding the hassles of buying and selling physical gold.

The precious metal market offers investors an opportunity to gain exposure to an asset class that has historically proven to be a safe haven. A gold IRA is one option (albeit a more complicated one) that allows investors to diversify their holdings in tax-advantaged ways.

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Gold Bullion

There are a couple of ways to buy gold. You can sell it to your gold dealer, who will buy it from you or you can take possession of it.

Selling gold to your dealer will get you the most cash for it. Gold dealers make their money on the spread, or the difference between what they charge you and what they sell it for, so they will always try to pay you the least amount possible.

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Dealers will not allow you to take possession of gold bullion because it could become stolen, lost, or damaged. Therefore, the dealer will buy the gold from you and hold it in their vault.

Gold dealers are required by law to give you written confirmation and the serial numbers of all gold bars in their possession. Gold dealers also must publish their gold inventories on their websites.

Gold Coins

To invest in physical gold, you usually need to buy gold coins. Gold coins come in a variety of shapes and sizes, and they are typically 99.99% pure gold. Some coins are minted by governments, like the American Gold Eagle.
Other gold coins are privately minted and come in a wide variety of designs. Many of these coins are artistic representations of certain real-life images and figures from history.
Gold bars
Gold bars are typically 99.99% pure gold and come in a variety of weights. Gold bars are usually sold by the gram or kilo. When you buy gold bars, you need to carefully weigh them.
Gold bullion
Gold bullion comes in a variety of shapes and sizes, and they are often sold in bulk. Gold bullion bars, rounds, and coins are all forms of physical gold.

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Gold Certificates

Gold certificates can be purchased from national banks, investment firms, and brokerages. When you acquire a gold certificate, you receive a certificate that authenticates your ownership and is redeemable for a certain amount of gold bullion.
Gold Bullion
Gold bullion is the purest form of gold. Unlike gold certificates, bullion cannot be easily converted into cash.
Gold Coins
Gold coins, also known as numismatics, are valuable collectibles. These coins usually come in gold or silver and are often made of precious metals like platinum or palladium.
Physical Gold
Physical gold is pure gold in bar or coin form.

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Gold Bars

Investors who want to purchase gold bars for physical storage should consider buying the largest size bar they feel comfortable holding. Most gold bars available in IRAs are 1-oz bars, so a 5-oz bar is a larger investment.
If you opt for smaller gold bars, buying 10- or 20-oz bars, you may find them easier to store, as they are typically smaller than 1-oz bars.
Gold coins
Gold coins are another popular choice of gold for IRAs, as they can be held in small, easily transportable containers. Investors should keep in mind that gold coins are also available in different sizes, typically ranging from one-half ounce to 10 ounces.
Investors who purchase gold coins should ensure they are purchasing coins that are backed by a sovereign mint, such as the Royal Canadian Mint. This will help to ensure their gold was minted in an approved facility.

Gold ETFs

A gold ETF is a fund that tracks the price of gold bullion. The IRS allows investors to own gold ETFs in their IRAs. Buying gold ETFs within your IRA account allows you to leverage the expertise of professional money managers. Gold ETFs are exchange-traded certificates that allow you to invest in gold.
Gold bars or coins
The IRS allows IRA investors to own gold bullion as physical assets. Gold is available in minted gold bars or coins. These forms are available in various sizes. Gold bars generally weigh 1 kilo, or about 32.15 ounces. Investors should also remember that the IRS limits how much gold you can accumulate in your IRA. The IRS caps IRA gold holdings at 100 coins or bars.