Best Precious Metals Investment Companies

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The prices of commodities worldwide have been dramatically increasing over the past months, making more and more individuals suffer from financial crises because wages are becoming inadequate to fulfill their daily necessities. While retirees are more worried about their future, investing in precious metals has been among the best ways to counteract this inflation.

Fortunately, we will introduce you to the best precious metals investment companies you can entrust your retirement savings with today. Grab your pen as we go on to this noteworthy article!

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Gold IRA Pros and Cons

Best Precious Metals Investment Firms

Best Precious Metals IRA Companies of 2023

Are you interested in a gold IRA investment but unfamiliar with the process, so you are looking for gold IRA reviews? Worry no more because the best gold IRA companies will walk you through this path! You can meet the most reputable ones in the industry below.


Company Name

Trustlink Rating

Minimum Investment


1 Augusta Precious Metals
4.9 ratings
$50,000 * Initial Setup Fee – $50
* Annual Custodian Fee – $100
* Annual Depository Fee – $100
2 American Hartford Gold
4.9 ratings on Trustpilot
$10,000 * Annual IRA Fee – $75
* Accounts Valued – $100,000 or Less and $125 for Accounts Valued at $100,001 or More
* Annual Storage Fee – $100 Fee in Most Cases.
3 Goldco
4.8 ratings
$25,000 * Setup Fees – $50
* Annual IRA Fees – $80-$100
* Storage Fees – $100 per Year
* Other Fees – $30
4 Birch Gold
4.9 ratings
$10,000 * Initial Setup fee – $ 50
* Wire Transfer fee – $ 30
* Annual Maintenance fee – $ 80
* Annual Storage fee – $ 100


Rank #1
Trustlink Rating
Minimum Investment $50,000
Fees * Initial Setup Fee – $50
* Annual Custodian Fee – $100
* Annual Depository Fee – $100


Rank #2
Trustpilot Rating
Minimum Investment $10,000
Fees * Annual IRA Fee – $75
* Accounts Valued – $100,000 or Less and $125 for Accounts Valued at $100,001 or More
* Annual Storage Fee – $100 Fee in Most Cases


Rank #3
Trustlink    Rating
Minimum  Investment $25,000
Fees * Setup Fees – $50
* Annual IRA Fees – $80-$100
* Storage Fees – $100 per Year
* Other Fees – $30


Rank #4
Trustlink Rating
Minimum Investment $10,000
Fees * Initial Setup fee – $ 50
* Wire Transfer fee – $ 30
* Annual Maintenance fee – $ 80
* Annual Storage fee – $ 100


Editor’s Choice – Best Gold IRA Company and Most Trusted Overall


Rated 4.9/5 Stars

Other Metals: Silver

Website Features: Educational resources, live chat, spot price charts

Why We Chose It

When we examined the best gold investment companies, Augusta Precious Metals particularly caught our eye due to its ability to diversify portfolios with high-quality precious metals. Since they want to consistently fulfill their mission of providing clients with a substantial financial foundation that can fight against economic recessions, they offer many gold, silver, and precious metal coins.

Investing in this company from Beverly Hills, California, takes only a few steps. If you are still foreign to such processes, you may contact their superb customer service team to assist you. They will allow you to open gold IRA accounts and purchase your desired precious metals.

Additionally, Augusta Precious Metals publishes educational resources and informative videos to help clients learn more about gold investments. They can also provide insights and tips to prevent scams in the industry, which can be essential to new investors.

If you hate waiting for unresponsive staff members, this investment firm may be the best for you because they built an exclusive IRA Department and order desk to attend to clients’ needs better and faster. They also ensure they can answer inquiries at any time of the day or for an entire lifetime.

Owing to these unmatched services and top-tier products, Augusta Precious Metals has been a premier gold IRA company since its establishment. Their excellence made them receive numerous awards, including the Best Overall Gold IRA Company in 2022 from the Money Magazine and the Most Transparent Company Award from Investopedia. Meanwhile, they also obtained a triple-A rating from the Business Consumer Alliance (BCA) and an A+ from the Better Business Bureau (BBB).

Pros & Cons




  • Offers one of the most affordable gold and silver bullion in the precious metals market
  • Complete transparency of pricing and fee structures
  • Quick and easy account setup process
  • No further sales commissions
  • Excellent buyback programs and money-back guarantee
  • With a 7-Day Price Protection for safeguarding new clients’ investments against possible price changes
  • Lifetime knowledgeable and friendly customer support
  • Free educational resources for all customers
  • Triple A rating from Business Consumer Alliance (BCA) and A+ review from Better Business Bureau (BBB)
  • Garnered the Investopedia’s “Most Transparent” Award and “Best Overall” Gold IRA Company Award from Money Magazine in 2022
  • They do not have platinum and palladium assets
  • A relatively more expensive minimum investment of $50,000

Runner up – Best Price On Bullion


Rated 4.8/5 Stars

Other Metals: Silver

Website Features: Educational resources, live chat, spot price charts

Why We Chose It

Regarding portfolio diversification, American Hartford Gold is one of the best gold IRA providers because it can offer gold bullion, precious metal coins, silver bars, and other IRS-approved assets! You can also find your place here if you want to invest in other IRA options like a 401k or 403b account or rollover your previous IRA to a new one.

This Los Angeles-based gold investment company delivers an easy and quick account setup process. While its minimum investment of $10,000 is comparably lower to other firms, you can waive the fees associated with the account if you purchase in large amounts.

Aside from that, American Hartford Gold has been famous for its stellar customer service that will address every inquiry as fast as possible. They also hold monthly conference calls, allowing clients to obtain market updates and raise concerns about the prices of precious metals. It can also be a way to ask for more information about anything you can be unfamiliar with.

Like the previous investment companies, American Hartford Gold has also gotten recognized by the public, taking the number one spot on the Inc. 5000 list of the fastest-expanding private firms in America. It also has an A+ rating from the BBB, five stars from Trustpilot, and a perfect rating from Google Reviews. More importantly, it received exclusive endorsements from well-known personalities, including Rick Harrison and Bill O’Reilly.

Pros & Cons




  • A less expensive minimum investment of $10,000
  • Lowest price guarantee and best buyback program in the industry
  • Full transparency of fee structures and transaction-associated costs
  • Free maintenance, insurance, and storage for the first three years of investment
  • Partnered with the secure depositories to keep the precious metals safe
  • You can open an account easily and quickly
  • 24/7 customer service
  • Free advice from financial experts and education resources
  • Prominent personalities, including Rick Harrison and Bill O’Reilly, exclusively endorsed the company to the public
  • Five stars rating from Google Reviews and Trustpilot and A+ from the BBB
  • Non-availability of their fee structure on their website
  • They do not support shipments to areas outside the United States
  • No platinum and palladium assets are available in the company










Top Precious Metals IRA Company


Rated 4.6/5 Stars

Other Metals: Silver

Website Features: Educational resources, live chat, spot price charts

Why We Chose It

You no longer need to find other gold IRA companies once you finally meet this top-notch investment company from Los Angeles!

Goldco enables clients to purchase gold and silver coins or convert an existing IRA, 401k, or 403b account to a gold IRA. Since they have partnered with reputable storage facilities, you can worry less because your assets are safe and insured. You can also enjoy free storage if you engage with the firm in a non-IRA transaction.

Furthermore, this gold investment company highlights its outstanding educational assistance for its customers. Thanks to its extensive investor education program, new and existing clients can learn from a library of content information about gold investing. They can also use customer-exclusive tools for monitoring gold prices and analyzing the market.

Goldco also has a matchless offer of free silver to new investors. In this program, customers can enjoy free silver assets at a maximum of 10% of their total investment. That means they can receive $5,000 worth of items if they invest up to $50,000.

If you need help investing in this gold IRA company, you can reach their knowledgeable customer service team to guide you. They promptly respond to inquiries and treat everyone with the utmost respect. Based on our observations on how they interact with people, Goldco’s staff members are willing to answer anyone’s questions, even if they only ask for basic information about investing.

Exceptionally, Goldco has been an award-winning company because it landed 17th place in the Los Angeles Business Journal’s list of the fastest-expanding companies in L.A. and 3rd in Inc. Magazines’ best-performing financial services firm in the U.S. in 2015. It also received high ratings from reliable websites, such as a triple-A from the BCA and an A+ from the BBB.

Pros of Goldco

    Here’s what we like most about Goldco:

  • Offers myriad options for silver and gold coins
  • Allows you to set up a new gold IRA account or purchase physical precious metals
  • Easy and quick account setup process
  • Stellar customer service
  • Free 401k, 403b, and gold IRA rollover
  • Free storage for transactions that do not involve IRAs
  • Non-pushy financial advisors
  • With an Extensive Investor Education Program to help clients learn about precious metals investing
  • Lets new customers enjoy free silver and waive first-year fees
  • Placed 17th in Los Angeles Business Journal’s list of the fastest-growing companies in L.A and 3rd in Inc. Magazines’ best performing financial services firm in the U.S. in 2015
  • Received a triple-A rating from BCA and A+ from the BBB
Featured Coins

      Gold Coins

      Silver Coins

  • Gold Maple Leaf coins
  • Gold Lucky Dragon
  • Gold Australian Saltwater Crocodile
  • Gold Australian Striped Marlin
  • Gold Freedom and Hope
  • Silver Maple Leaf coins
  • Silver Lucky Dragon coins
  • Silver Freedom
  • Silver Liberty Coin
  • Silver American Eagle Proof

Great Staff for One of the Best Gold Investment Companies


Rated 4.5/5 Stars

Other Metals: Silver

Website Features: Educational resources, live chat, spot price charts

Why We Chose It

Down to our last firm in this list of the best gold investment companies, Birch Gold Group is a Burbank, California-based entity specializing in gold IRA rollovers. They have multiple options for precious metals, including gold, silver, platinum, and palladium assets, which can substantially diversify retirement portfolios.

Once you purchase precious metals from this firm, they will immediately arrange the shipment to their affiliated reputable depositories. Worry less about the security of these transactions because they ensure to only partner with facilities that can safely handle valuable assets!

If you are worried about the fees you will pay in this company, Birch Gold Group guarantees they will remain transparent with their charges and transaction-related expenses. They will also notify clients if there are price changes to prevent levying hidden costs.

Above all, Birch Gold Group is among the most unique investment companies due to its customized service exclusive to each client. They specifically assign one staff member to one investor to guide them to everything the latter wants to learn.

With all these excellencies, this gold IRA company has an A+ rating from the BBB and triple-A from the BCA. They are affiliated with America’s prominent columnist, author, and attorney, Ben Shapiro.

Pros & Cons




  • Offers multiple precious metals options, including gold, silver, palladium, and platinum
  • A more budget-friendly minimum investment requirement of $10,000
  • Competitive buyback program
  • Personalized customer service to attend to individual needs efficiently
  • You can waive the fees on the first year if you purchase more than $50,000
  • Partnered with reputable storage facilities to secure the assets safely
  • Free educational resources for customers to learn more about investing
  • You can check their fees, charges, and transaction-associated expenses easily
  • Received an A+ rating from BBB and triple-A reviews from BCA
  • Affiliated with Ben Shapiro, a prominent author, attorney, and columnist in America
  • They do not support purchases online.
  • There are fees for the account setup, wire, transfer, storage, maintenance, and security.

What is A Precious Metals IRA?

A precious metals IRA is a self-directed IRA that lets investors purchase gold, silver, platinum, and palladium assets. It is a more flexible retirement account than a traditional IRA because it does not limit clients to investing in stocks, bonds, and mutual funds.

However, several investors still confuse a precious metals IRA with the traditional one because they possess a few similarities, such as their contribution limits. So, how are they different, or what makes precious metals IRAs better and more unique?

First, precious metals IRAs are reliable investment vehicles that do not depreciate during economic changes, unlike paper assets that are vulnerable to recession and price instability. They also have more specific IRS-imposed regulations, including the approved metals and storage facilities. In this instance, individuals who fail to follow the rules will be subject to a 10% tax penalty on the amount withdrawn.

Aside from that, precious metals IRAs allow rollovers or transfers from an existing retirement account like 403b or 401k. It enables investors to diversify their investment portfolios, making their savings more secure and less prone to losses.

Nevertheless, people aiming to open a precious metals IRA must find an IRS-approved custodian to assist them in managing their accounts. They must purchase their target metals, ship them in safe depository vaults, and spend money on the fees associated with the investment. Still, these amounts and processes may vary depending on your chosen company.

How Investing in Physical Gold and Silver Helps to Protect Your Savings

When you retire from your employment, the foremost thing you can think of is how you will secure a financially stable future. You will start to find ways to achieve a steadfast source of funds to support your daily necessities while having adequate space for leisure and entertainment.

Fortunately, investing in physical precious metals will assist you in safeguarding your retirement savings. Here is how these assets will do that:

  • Hedge Against Inflation: Gold and silver assets are popular as inflation hedges because their prices increase, inversely proportional to when the value of fiat currencies declines. They can preserve their purchasing power and value despite inflation and economic uncertainty.
  • Diversification: The non-volatility aspect of gold and silver assets protects your other investments against market downturns. If you include these things in your portfolio, you can distribute your funds to more investment options instead of only one source, potentially reducing the unwanted consequences of economic crises.
  • Portfolio Insurance: Your retirement portfolio can be prone to losses or bankruptcy due to unexpected market shocks. Hence, adding a silver or gold investment will shield your savings from risks because they can still perform well despite these situations.
  • Store of Value: Gold and silver investments are also an excellent way of storing your wealth for the long term. Thanks to their intrinsic value and scarcity, they remain durable even after decades. They can counterbalance any financial mismanagement or possible debts.
  • Safe-Haven Assets: If you want to achieve better security and stability with your investments, gold, and silver are among the most preferred assets you can invest in because they can withstand geopolitical risks and financial instability. They do not deteriorate, and their value does not depreciate over time.

IRA Investments You Can Choose in Physical Bullion And Metal Coins

According to the exceptions set forth by the tax code, gold IRA investors can own a few specific precious metal coins and bullion, such as the following:

  • Maple Leaf coins from Canada
  • American Eagle coins
  • U.S. Buffalo
  • Panda coins from China
  • Lunar Series from Australia
  • Kangaroo or Nugget bullion coins from Australia
  • Philharmonic bullion coins from Austria
  • Kookaburra coins from Australia; and
  • Libertad bullion coins from Mexico

Furthermore, precious metals IRA owners can also purchase any other gold, silver, platinum, or palladium bullion that meets the purity standards. For instance, gold assets must be at least 99.5% pure, while silver must be at least 99.9%.

A piece of advice when investing in physical bullion and coins is to find a reliable IRA custodian willing to facilitate your self-directed IRA. They must help you purchase precious metals, safely store them in a depository, and manage them in the best way possible.

Nonetheless, you must expect these companies to charge fees for their services. These can include a one-time account setup fee, annual administration or maintenance, storage, and insurance costs. There can also be additional expenses for distributions, contributions, and commissions for purchasing and selling precious metals.

The Benefits Of Precious Metals in Your IRA

As stated earlier, investing solely in traditional IRAs or paper assets provide little to no guarantee that your retirement portfolio will remain immune to risks. While it may lead your investment plans to success, it can face downturns, especially today when many countries are experiencing hyperinflation and high commodity prices.

Considering these situations, selecting other investment options that can give you a reliable backup if economic uncertainty ever occurs will always be better. You must not stick to one asset because it can get influenced by economic changes easily.

In such a case, precious metals investing may be advantageous, especially in the long run. However, how do these assets specifically benefit you? Let us dive deeper into that.

First, a precious metals IRA guards you against market volatility. Even though economic growth and depression can happen suddenly, these assets can still ensure your investments appreciate at all times due to their durability and finite supply.

Besides, precious metals have a steady market demand because numerous industries use them for their products. For example, gold and silver are necessary for producing jewelry, tableware, and ornaments. They can also be substantial in electronics and the medical field.

Regarding diversification, precious metal IRAs also offer platinum and palladium investments. Some self-directed IRAs also let investors engage in cryptocurrencies like Bitcoin.

On the other hand, precious metals can provide you with more investment opportunities besides those we enumerated above.

You can directly purchase physical assets and store them in your trusted storage facility or indirectly invest in them by buying shares from mining companies. The latter may also enable you to avail of government bonds using your existing assets and receive income with interest after a specific period.

While direct precious metals investments protect your retirement savings, indirect ones can assist you in creating a source of passive income because you can complement precious metals with paper assets. That way, you can make your funds grow like paper assets while achieving the unmatched stability of precious metals, serving tip-top financial security until your retirement.

This passive income may also become subject to tax delays, where you will no longer need to pay any tax impositions on your earnings. Meanwhile, it may also get exempted from these delays depending on the regulations of the IRS. When that happens, you will wait before paying the taxes.

Above all, investing in a precious metals IRA grants you more flexibility, allowing you to achieve more control over how you want to construct and manage your assets. It will be your choice to select gold only or include silver, platinum, and palladium in your portfolio.

Which Metals Can You Include in a Precious Metals IRA?

One essential thing many gold IRA investors like about precious metals investing is the wide range of assets you can purchase. For instance, precious metals IRA companies offer gold, silver, platinum, and palladium coins or bars. Here are their brief descriptions to provide you with an idea of how they differ from each other:

  • Gold: Aside from being the most common precious metal in the industry, gold has a historical legacy due to its excellent store of value and price stability. It has been a traditional option among retirees aiming for long-term financial goals because it does not deteriorate and depreciate even after years pass.
  • Silver: This precious metal is a popular asset in IRAs because it possesses higher volatility and better returns. Its value remains stable like gold, giving a reliable investment amidst economic uncertainty. Most industries, such as silverware, ornaments, jewelry, electronics, and medicine, also use this in their respective fields.
  • Platinum: If you want something unique in your precious metal IRA account, you can purchase platinum and enjoy its high growth rates and increasing demand. It is scarcer than gold but substantial to multiple industrial uses. For example, experts can use it in manufacturing automaker catalytic converters to reduce the emission of harmful toxic pollutants.
  • Palladium: Like platinum, this precious metal is also scarce but provides a gold-like performance during inflation and economic crises. However, it can become vulnerable when geopolitical events and natural occurrences interrupt global supply chains, specifically because palladium is historically in the industry of automobile exhaust systems. Nevertheless, it is still a reliable option due to its demand for electronics and jewelry.

After choosing your desired precious metal among these options, your chosen gold investment company will ask you to secure them in a depository or select exchange-traded funds (ETFs) that track their prices without physically owning them.

Nevertheless, it is worth noting that not all types of coins and bullion are eligible for a gold IRA. The U.S. federal law classified a few coins and bars as collectibles, making them incompatible with these precious metals IRAs.

Therefore, you must talk to a financial advisor before investing in precious metals. This strategy will help prevent purchasing prohibited assets, further assisting you in complying with the IRS regulations regarding these investment vehicles.

Things To Look For In A Good Precious Metals IRA Company

The precious metals industry has become broader as the world modernizes, so there is no wonder why numerous gold IRA companies have risen. Nonetheless, how do you pick the best gold IRA custodian who can help you manage your investment?

Among the common attributes investors look for in a reliable gold IRA company include reviews and reputation, which you can check on reputable review websites. The selection of precious metals and the convenience of setting up an account also play a crucial role.

While these characteristics are typical when narrowing down the options, you must expand your research and consider buyback programs and fees to decide more carefully. With these things said, here are more things to pay attention to when choosing a gold IRA company.


Buybacks are programs that let you resell your physical gold, silver, or other precious metals to the company where you bought them. They are one of the best and easiest ways of liquidating your assets upon retirement because they allow you to receive a reasonable payment within the market value.

Once you choose the best gold IRA company, you can avail yourself of better buyback deals that offer the highest returns. These firms can also give you the most convenient buyback process with little to no fees during the liquidation. Besides, they can arrange the shipment of the precious metals on your behalf.

You can also choose whether you want to receive your withdrawals through cash or physical precious metals. If you select the former option, the investment firm will wire the funds to your bank account or present you with a check. Meanwhile, they can send you the assets as a discreet and secure package if you prefer receiving them physically.

Gold IRA Fees & Cost

You can encounter different gold IRA fees and costs in many gold IRA companies. For instance, these firms can require minimum investments ranging from as low as $2,000 to $50,000. They can also offer various products and services, the price of which depends on their fee structure.

Aside from that, self-directed precious metals IRAs necessitate more effort and staffing, giving rise to additional expenses for account setup, transactions, administration, purchases, commissions, storage, maintenance, shipment, and documentation.

Usually, a gold IRA provider will charge setup fees before opening your account. It can cost around $50 or a couple of hundred dollars, but some firms may waive this if you make a high initial investment.

Meanwhile, storage fees will likely rely on the number of precious metal assets you own in your retirement account. You will pay more if you possess large accounts and less if you only have a few. In such a case, your selected storage facility will decide how much they will levy on each investor.

Maintenance fees are also essential to keep your account going. Typically, custodians will charge you these expenses to compensate for the top-notch administrative work that they offer. It can cost more or less $75, or some companies can give it for free in the first years of your investment.

Given these multiple fees, you must choose a reputable gold IRA company that makes its fee structure entirely transparent for the customers’ view. They must effectively notify their clients about other additional costs and markups.

Once you see an investment firm with incomplete details about their product fees, you must contact them before signing up. In some instances, you can also skip these companies and look for more transparent ones.

How to Open Your Own Precious Metals IRA Account

Knowing the basic information about investing in a precious metals IRA leads to one more question: how can you finally open gold individual retirement accounts? Read ahead as we explain the process thoroughly!

Choose a Gold IRA Custodian

Nowadays, traditional IRA companies cannot handle precious metal IRAs. The law only allows self-directed IRA custodians like banks, equity trust companies, or IRS-approved institutions to manage gold IRA investments.

While you can see numerous companies online, you must choose one wisely because it will put your retirement savings at stake if you fail to select the best. Therefore, you must examine their services, products, and reputation. They must primarily specialize in precious metals IRAs while providing services at the most reasonable prices possible.

Choose a Dealer

A gold IRA investment will require you to find the best precious metals dealers from where you can purchase your desired assets. If you need help choosing one, you can check each broker to know if it forms part of industry groups that demand effort and expertise to be a member of. These include the Professional Numismatists Guild, the Industry Council of Tangible Assets, and the American Numismatics Association.

If you cannot select one from everything you have found, you can ask for recommendations from your gold IRA custodian. Generally, they will only partner with legitimate dealers to ensure a reliable and secure transaction.

Choose Which Items to Buy

After searching for a gold IRA dealer, you can finally check which precious metals they offer. You can notice that the availability and prices of gold and silver products can vary over time, depending on the current economic status of your country.

If you are still unfamiliar with precious metals, you may start with the most popular items in the market. You can try products like the Canadian Maple Leaf, American Gold Eagles, Gold Buffalos, or Australian Koala Bullion coins. If you want more diversity, you can also buy other platinum or palladium coins, given that they comply with the standards set by the IRS.

Pick a Storage

Once you have chosen and purchased the precious metals you want in your IRA, you must store these assets in a secure storage facility. Fortunately, most gold IRA companies have affiliated with the best depositories, so you can ask them for help if you are looking for trustworthy and IRS-approved establishments.

As per our thorough research, Brinks Global Services, International Depository Service, and Delaware Depository Service are the most popular places to put your assets safely. They can offer segregated and non-segregated vaults, allowing you to store your metals separately from other investors’ physical assets.

Finish the Transaction

Finally, all that is there for you to do is wrap up your order. Your gold IRA company, custodian, and storage facility will then handle the remaining processes of managing your accounts and precious metals.

After everything, you must regularly check your investments at least once a year. You can review your assets to see if their values are still stable or if you need to modify your retirement portfolio.

Final Thought – Best Precious Metals Investment Companies

Indeed, most products and services in any industry are alarmingly becoming more expensive. That is why investors are trying to look for ways to preserve their hard-earned funds and allow them to ensure their future is financially stable enough to meet their daily needs.

Luckily, precious metals investments open endless doors to monetary growth, protection, and success. This retirement account helps investors store a reliable and durable source of funds that can maintain value for a lengthy period. Besides, it diversifies portfolios, guaranteeing an investment far from economic risks.

So, if you are searching for a reputable firm where you can secure your retirement savings, Augusta Precious Metals is among the best precious metals investment companies. They offer gold and silver IRAs with budget-friendly prices so customers can avail of these high-quality products without worrying about their funds.

In addition, this investment company possesses the most stellar customer service that delivers professional help and educational resources. Their exclusive IRA department also guides new clients in setting up an IRA and investing in precious metals. Not to brag about their competitive buyback programs and money-back guarantee that provides investors a safety net if they ever want to pull out their funds!

Hence, if you wish to start your precious metal investment journey with a reliable company, you may want to reach Augusta Precious Metals today and initiate the process.

Precious Metals IRA FAQs

Do you want to discover more about the top gold IRA companies and how this industry works? We have answered some frequently asked questions below to help you learn more about them!

Can You Rollover An Existing Retirement Account To A Precious Metals IRA?

You can perform gold IRA rollovers to transfer your funds from an existing retirement account into a precious metals IRA. This process lets you add a new investment vehicle to your retirement portfolio, granting you more chances of being financially stable and less exposed to potential risks.

However, you must understand that such rollovers only work if you transfer your funds into a new precious metals IRA. You can do this step through a direct or a custodian-to-custodian transfer.

If you choose the former option, you must contact the financial institution currently holding your retirement account. They will have to initiate the transfer to the gold IRA custodian, who will then invest the funds in precious metals.

On the other hand, a custodian-to-custodian transfer involves contacting the gold IRA custodian to give them details about your existing IRA. The custodian will reach the financial institution managing your retirement account and start the transfer.

Since the custodian will perform most of the work, you must ensure that your chosen company is reputable and possesses top-tier expertise in conducting a gold IRA rollover. They must be knowledgeable about the process of gold investing or can give you real-life advice on which path is best for your financial goals.

In addition, you must beware that gold IRA rollovers may charge you different fees to complete the process. While these costs often depend on each custodian, a few companies can give it to you for free.

How Much Precious Metals Should You Put In Your IRA?

Investing in a precious metals IRA account is an excellent way of diversifying your portfolio aside from traditional assets like bonds, stocks, and mutual funds. Nonetheless, considering the amount of precious metals you will purchase is still advisable because you may not want to bet all your savings on only one option.

With these points, a few financial experts recommend buying precious metals worth 5% to 10% of your retirement funds. If you feel confident that you can afford more without risking much of your hard-earned money, you can purchase more assets depending on your desired amount.

Generally, more conservative investors spend at least 3% to 5% of their savings on gold assets. They usually aim to balance their other retirement accounts and exchange-traded funds with more stable resources.

Conversely, aggressive investors may purchase precious metals with over 10% of their funds to take positive advantage of the short-term explosive growth of silver and palladium assets. They believe higher allocations may help them enjoy more of these precious metals’ benefits.

Above all, you must review your financial plans and risk tolerance before deciding how much you will spend on a precious metal investment. You can talk to professional financial advisors because they can consider all possible factors affecting the balance of your retirement portfolio in the long run.

What Are The Different Types of IRAs?

You can invest in five different types of individual retirement accounts. You can continue reading below to know what makes them distinct.

  • Precious Metals IRA: This retirement account allows investors to hold precious metals in their portfolios. Since it is a long-term investment, you cannot withdraw funds before you turn 59 ½ years old. Otherwise, every withdrawal before that age will be subject to a 10% tax penalty.
  • Traditional IRA: If you invest in this IRA, you can expect your funds to grow tax-deferred. Nevertheless, any withdrawal you perform during retirement will render it as regular income, making it taxable. Additionally, early withdrawals before age 59 ½ require you to pay a 10% tax penalty, and you must take the minimum distributions at 72.
  • SEP IRA: Investing in a SEP IRA is suitable for you if you are an employee of a small business or a self-employed individual. While the IRS sets a contribution limit to this IRA, you will only pay your taxes when you withdraw your funds during retirement.
  • SIMPLE IRA: This retirement account is also advisable for self-employed individuals and small businesses. However, it differs from SEP IRA because you and your employer must contribute to your accounts. All contributions will then become tax-deductible, but the tax rules for withdrawals are the same as for traditional IRAs.
  • Roth IRA: You will have no immediate tax deductions and required minimum distributions when you invest in a Roth IRA. Instead, you will pay a 10% penalty for every early withdrawal, and you must fund your IRA with after-tax dollars. Therefore, you can pull your savings out anytime without paying additional burdens because you have already paid the taxes beforehand.
How Do You Withdraw Your Investments In A Precious Metals IRA?

Gold IRAs are usually for long-term investments, meaning that once you engage in this IRA, you can only withdraw assets once you reach the allowable age to pull the funds out. You will, however, be subject to a 10% tax penalty with any early withdrawal before turning 59 ½.

On the other hand, you do not have to pay taxes if you want to sell precious metals from your IRA without pulling out your money. That is because it is not considered an early withdrawal. For such instances, you can withdraw from gold IRAs in two ways:

  • Cash: Your gold IRA custodian and depository will purchase the precious metal assets from you. They will pay you through a check, bank, or wire transfer.
  • In-Kind: Your storage facility will ship the physical precious metals to your address. In this method, you must have a legal plan on where you will secure these assets. They must be insured and stored in an IRS-approved place.
Can You Personally Store Your Precious Metals At Home?

The IRS warns self-directed IRA investors about the risks of storing physical precious metals at home. They emphasized that individuals must have an IRS-approved depository to secure their assets legally and safely.

When you rent a storage facility, your investments can get protected by their 24/7 security, sturdier vaults, and high-quality cameras. These companies can also offer insurance plans to ensure you can get cash equivalent to the value of your assets if theft or natural disasters happen.

What Are Your Possible Alternatives To A Precious Metals IRA?

Portfolio diversification is a way to distribute your retirement savings to different vehicles, enabling you to minimize the losses your investments can suffer amidst economic uncertainty. So, if you want more investment options than gold IRA investing, check these alternatives below!

  • Mutual Funds and ETFs: These investments are less expensive and more straightforward than engaging in gold IRAs. They offer exposure to niche markets and multiple asset classes than stocks and bonds. However, you will not possess physical gold bars or coins on this path.
  • Stocks: You can purchase these from publicly-traded gold mining, trading, and processing companies. While their value tends to perform better when gold prices skyrocket, you must research reliable stock companies because their reputation impacts the stock price. Hence, you can earn more by investing in higher-quality assets or reduce the fees by looking for regular brokerage IRAs.
  • Bonds: These are loans issued by governments and corporations to raise money for their projects, such as building bridges or paying their debts from their previous projects. When you purchase these bonds, you typically let these entities borrow your money with interest. Thus, your funds will produce income because the government or corporation will return the principal amount plus interest payments.
  • Gold Investments Outside IRAs: If you still want to engage in gold investments but dislike the hefty fees and restrictions, you can invest in precious metals outside an individual retirement account. You can also avoid other complications of managing a self-directed IRA. Then, you can utilize your retirement account for other investment options at a regular brokerage company.
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