An IRA Approved Gold, also known as a Precious Metals IRA or Gold IRA, enables you to possess several alternative assets, including precious metals like gold. However, the Internal Revenue Service (IRS) has set stringent requirements and purity standards for the types of gold that can be used as IRA investments, rendering many gold bars and coins ineligible for deposit into a Gold IRA.
5 Top Gold IRA Companies
- Augusta Precious Metals: Great Gold IRA Company Overall (4.6/5)
- Red Rock Secured: Runner Up – Best at Home Gold IRA ( 4 8/5)
- Goldco: Great Buyback Program (4.5/5)
- American Hartford Gold: Editor’s Choice – Best Prices on Bullions (4.9/5)
- Birch Gold Group: Great Staff Overall (4.3/5)
#1. Augusta Precious Metals: Great Gold IRA Company Overall (4.6/5)
Augusta Precious Metals is a well-known dealer of PCGS-approved gold and silver for IRA accounts. Joe Montana and his financial team founded it. It has become an industry leader in adding physical gold & silver to retirement portfolios. They offer cash purchases and precious metal IRAs, with a minimum investment requirement of $50,000 plus an additional fee.
Augusta Precious Metals has been featured in Forbes Magazine and received positive customer reviews. Their official website provides detailed information about their services, including the types of metals they offer, the depositories they use to store metals, and their associated fees.
Suppose you are searching for a trustworthy alternative. In that case, Augusta Precious Metals is a great choice to add more diverse investments to your IRA-approved physical gold or silver portfolio. With competitive prices and knowledgeable customer service representatives ready to respond to any inquiries about investing in precious metals, Augusta Precious Metals will meet your needs.
Pros & Cons
Pros
- They concentrate on education.
- They provide lifetime assistance.
- They have a transparent fee structure.
- The gold and silver IRA company has a simple setup procedure.
- Positive feedback from every customer indicates a superb service experience.
- They provide gold buybacks.
Cons
- Their website needs product pricing.
- Online purchases are not supported.
- Premium purchases have a large spread.
#2. Red Rock Secured: Runner Up – Best at Home Gold IRA ( 4 8/5)
Red Secured is a top-notch provider of precious metal investment solutions catering to investors seeking portfolio diversification. By focusing on gold, silver, platinum, and palladium, Red Rock Secured offers various investment choices that suit its client’s needs. The company boasts years of industry expertise and commits to delivering exceptional customer service to its clients.
One of the distinctive features of Red Rock Secured investment solutions is that they offer precious physical metals for sale. It means that investors acquire the metal rather than just a representation of it on paper. Knowing their investment is tangible and highly secure gives investors peace of mind.
Furthermore, Red Rock Secured offers many educational resources to help investors make informed investment decisions. They provide market analysis, industry news, and expert insights to help clients stay up-to-date with the latest developments in the precious metal industry.
In addition to these impressive features, Red Rock Secured provides IRA Approved Gold, making them an ideal selection for investors searching to diversify their portfolio with precious metals. With various alternatives for investing and a commitment to exceptional service, Red Rock Secured is a trusted partner in precious metal investing.
Pros & Cons
Pros
- Excellent ratings on various watchdog websites
- Excellent range of products
- There are a few especially appealing discounts, including a price guarantee.
- Most clients will not have to pay any fees for their gold IRA.
- They do offer a buyback program.
- $10,000 minimum to open a gold IRA
Cons
- No specific product pages
- Uncertainty regarding the availability of the inventory
- There is no completely clear markup
#3. Goldco: Great Buyback Program (4.5/5)
Goldco is a reputable company specializing in wealth and asset protection, focusing on gold, silver, and other precious metals. It launched in 2006 and earned a Better Business Bureau A+ rating and a Business Consumer Alliance Triple-A rating. Goldco is the top-ranked Gold IRA provider, offering customers several investment options, including Self-Directed IRAs, 401(k) rollovers, physical gold and silver coins, bars, rounds, and more.
In addition to assisting with account setup, Goldco offers educational resources to help customers make informed decisions when investing in precious metals. Most of the customer reviews for Goldco are positive, citing their excellent customer service, extensive product selection, and competitive pricing.
If you’re looking to protect your retirement savings from market volatility, Goldco’s services may be ideal for you. Their top-notch customer service, broad product range, and inexpensive rates give you peace of mind recognizing that your investments are secure. Their Gold IRA approval further solidifies their reputation as a trustworthy and dependable investment firm.
Pros & Cons
Pros:
- Availability of four precious metals
- Allies with reputable storage facilities
- Guaranteed buyback
Cons:
- The minimum deposit is relatively high.
- There is no transparent fee pricing on the website.
#4. American Hartford Gold: Editor’s Choice – Best Prices on Bullions (4.9/5)
American Hartford Gold is a well-known industry in the precious metals industry. With an A+ Excellent from the Better Business Bureau (BBB) and thousands of satisfied customers, American Hartford Gold, has established itself as a reliable source of gold and silver investments.
American Hartford Gold offers various services to help customers set up IRA-approved gold and silver investments, including coins and bullion. Their team also assists with portfolio diversification, asset protection, retirement planning, and wealth preservation. Individuals can rest in the straightforward understanding that their investments are secure with American
Hartford Gold’s commitment to quality service and customer satisfaction.
American Hartford Gold is dedicated to providing its customers with the best goods and services available in the precious metals industry. With an experienced team of professionals committed to helping customers achieve their financial goals,
Pros & Cons
Pros
- Outstanding review metrics
- Experts on staff and helpful resources will help you confidently navigate the gold IRA market.
- Complete pricing information is provided before closing.
- Compliance and service to customers are top priorities.
Cons
- Non-IRA purchases have no price list available.
- International shipping is currently unavailable.
#5. Birch Gold Group: Great Staff Overall (4.3/5)
Since 2003, Birch Gold Group has been a trusted provider of gold IRA services, helping customers diversify their retirement portfolios with precious metals. They offer an extensive range of gold and silver products and other precious metals to meet the unique needs of their customers. With a score of A+ from the Better Business Bureau (BBB) and a AAA rating from the Business Consumer Alliance, Birch Gold Group is focused on providing exceptional customer service and assisting clients make informed decisions about their IRA-approved gold investments.
Birch Gold Group offers various services to get you started, including guidance on setting up or transferring your current IRA into a gold or silver-backed account. They also assist in selecting the correct type of product for your investment goals and offer helpful advice on managing your account.
At Birch Gold Group, they understand that investing in precious metals can be daunting for some people and strive to simplify the procedure. Their expert team is available to answer all inquiries and provide personalized assistance. With their commitment to customer service and expertise in IRA-approved gold investments, Birch Gold Group is a good option for those searching to diversify their retirement portfolio.
Pros & Cons
Pros
- Promoted by Ben Shapiro
- Your specialist and excellent customer service
- They have a low $10,000 minimum for their IRAs.
- There are several educational resources available.
- The first year of investing over $50,000 incurs no fees.
- With over two decades of relevant experience,
- An effective buyback program
- AAA BCA Rated A+ with BBB 4.69/5 from their customers
Cons
- They only serve investors based in the United States.
- Comparatively few physical coins and bars to other gold investment companies
IRS Requirements for Gold
According to the IRS, investors can take advantage of numerous tax benefits by owning eligible silver bullion products in a self-directed precious metals IRA. By including gold as an alternative investment in an IRA, investors can safeguard their portfolio against inflation and build retirement wealth tax-free or tax-deferred. To qualify for a gold bullion product to be deposited into an IRA, it must meet the minimum purity requirement of 0.995-pure established by the IRS for IRA gold. Additionally, the investor must store the gold in an authorized depository that meets the IRS’s strict security standards.
The IRS authorizes particular depositories to hold IRA gold. Most bullion dealers and brokers will have a preferred depository or depositories. Finally, the trustee of the IRA must be appointed by a custodian. Typically, the investor purchases gold from a bullion dealer who assists them in opening an account with their partnered custodian and depository. This process allows for a seamless investing experience. Investors only need to deal with one company (a dealer/broker) to start investing in a Gold IRA.
IRA-approved Gold Coins
Gold IRA coins are a popular investment choice for diversifying their retirement portfolio. Gold coins are approved by the Internal Revenue Service (IRS) and can be held in an Individual Retirement Account (IRA). Gold coins must meet the IRS’s specific purity requirements, typically 99.5% or higher. Popular gold coin choices include:
- American Eagle gold coins.
- Canadian Maple Leaf gold coins.
- South African Krugerrand gold coins.
Gold is a means of safeguarding your retirement savings from market volatility and inflation. Gold has traditionally been a trustworthy store of value. It can provide stability during economic uncertainty. Additionally, gold can increase in value over time as demand increases and supply decreases.
When investing in gold through an IRA, it is critical to understand the government’s rules and regulations on these accounts. The IRS requires that all investments in an IRA be stored with a custodian or trustee approved by the IRS. Additionally, you must purchase your gold from an approved source, such as a reputable dealer or bullion exchange.
Popular IRA-approved Gold Bars
Gold investment is a popular way to diversify your retirement portfolio. When investing in gold for an IRA, it is crucial to understand which gold bars are approved by the IRS.
Gold bullion eligible for an IRA must have a minimum fineness of .995 percent. It means that the gold bar must be at least 99.5% pure. Refiners like Credit Suisse, PAMP Suisse, Valcambi, and Perth Mint produce the most popular IRA-approved gold bars. These bars are typically available in sizes ranging from 1 gram to 400 ounces. They come with an assay card that guarantees their purity and weight.
In addition to these significant refiners, there are also many smaller refiners whose products can be included in an IRA account. It is crucial to understand that only certain coins and bars are eligible for diversity in an IRA account, so it is best to consult your financial advisor or custodian before making any purchases.
When selecting a gold bar for inclusion in your IRA account, it is essential to consider factors such as liquidity, cost, and storage fees. Liquidity relates to how simple it is to purchase or sell the product on the open market; cost refers to the product’s price, and storage fees refer to any fees associated with storing the product in a secure location such as a depository or vault.
Overall, investing in gold bars for your IRA can be an effective strategy for diversifying your retirement portfolio while protecting yourself against inflation and market volatility. By understanding which gold bars are approved by the IRS and considering factors such as liquidity, cost, and storage fees when selecting, you can be confident that you were making a wise investment decision when adding gold bars to your retirement portfolio.
Gold Bullion Coins NOT Allowed in an IRA
Gold bullion coins are a popular investment option, but not all gold investments can be owned by an IRA. The IRS (Internal Revenue Service) has stringent regulations on what types of gold and other precious meals are allowed in an IRA.
The IRS requires that gold be 99.5% pure, silver be 99.9% pure, and platinum and palladium be 99.95% pure. Bars, rounds, and coins must also be produced by a refiner or assayer approved by the IRS. American Gold Eagles and America the Beautiful Silver Coins are allowed, but no Proof/Collectible coins are allowed.
It is important to note that IRAs cannot invest in their gold or other precious metals; this could jeopardize the tax benefits of a gold IRA.
Benefits of Investing in IRA-approved Gold
Investors who select to invest in gold within a precious metals IRA can reap numerous benefits for their retirement. Unlike traditional retirement accounts such as a 401k, the worth of gold in your IRA is not tied to the dollar’s value, meaning that depreciation of the dollar does not negatively impact your gold’s value.
Many investors turn to purchasing gold and other precious metals when the dollar’s value falls, making gold an ideal investment for those wishing to store their wealth in a non-depreciating medium. The demand for gold typically rises in such circumstances, which also causes the price to rise. This clear and consistent correlation between the value of the dollar and gold makes investing in a gold IRA an attractive option.
Another advantage of investing in gold via an IRA is the potential to earn significant returns on your investment over time. Some analysts predict that the value of gold will reach $5000 per ounce within the next decade. Additionally, mining companies forecast that all discovered gold deposits will be thoroughly mined within the next 20 years, making now a particularly opportune moment in history to invest in gold as part of your retirement portfolio.
Frequently Asked Questions
What is IRA-Eligible Gold?
IRA-eligible Gold meets IRS requirements for inclusion in a Self-directed Individual Retirement Account, also Gold IRA. Gold bars and rounds must be 99.5% pure and produced by an authorized mint. Small bars must be precisely weighed, whereas larger bars can vary in weight from the stated amount.
What Silver & Gold Bullion Products Are IRA Approved?
Only specific gold, silver, platinum, and palladium products are permitted in an IRA account. These products must meet the IRS’s minimum fineness requirements. Gold must be at least 99.5% pure (.995), while silver must be 99.9% pure (.999). Products made of platinum and palladium must have a fineness of.9995 or higher to qualify for an IRA account.
What Is the Difference Between a Traditional Precious Metals IRA and a Self-Directed Precious Metals IRA?
A traditional precious metals IRA is held by a custodian who purchases approved coins or bullion on the investor’s behalf. A self-directed precious metals IRA allows investors to choose and manage their investments directly within their accounts.
When Can I Own Gold In An IRA?
To own gold in an IRA, you must use a truly self-directed IRA available from a few custodians. You’ll need a custodian to let you keep physical gold in your retirement account instead of paper assets like stocks or mutual funds.
Final Thought – IRA-Approved Gold
Investing in gold through an IRA is an excellent strategy to diversify your retirement portfolio and protect your assets against inflation. When doing so, make sure that the gold meets all IRS requirements for inclusion in your self-directed account, such as having a purity of 99.5% or higher, being produced by an approved mint, and complying with specific weight requirements.
Additional investments in precious metals like silver, platinum, and palladium may be allowed depending on the IRA custodian. If you’re considering a Gold IRA, here are five top companies: Augusta Precious Metals, Red Rock Secured, Goldco, American Hartford Gold, and Birch Gold Group.