Are you looking for a safe and stable way to invest your retirement funds? Look no further than a Gold IRA!
As an investor or retiree, it’s important to make smart decisions when it comes to managing your finances. With the ever-changing market and economic landscape, traditional retirement plans may not always provide the security we need.
This is where a gold IRA comes in – offering diversification and protection against inflation and economic downturns.
In this guide, we will walk you through the 3 simple steps of setting up a gold IRA, providing you with confidence and knowledge as you embark on this alternative form of investment for your future financial stability.
We’ll also answer how much it typically costs to start a gold IRA and discuss some good options for investment firms.
Feel free to use the TOC list below if you want to jump straight to any section:
What Is A Gold IRA?
A gold IRA, also known as a precious metals IRA, is a specialized type of Individual Retirement Account (IRA) that allows investors to hold physical gold bullion or coins and other precious metals as qualified retirement investments.
Unlike a traditional IRA, which typically holds stocks, bonds, and mutual funds, a gold IRA is self-directed and can also hold tangible assets in the form of gold, silver, platinum, and palladium.
These precious metals are stored in a secure location and are considered a safe haven asset that can protect against inflation and market volatility.
Additionally, a gold IRA can offer tax advantages, as certain types of gold investments are permitted in retirement accounts. In other words, it provides a straightforward and convenient option to leverage an IRS loophole.
If you’re ready to take action >>request this 2025 FREE Gold & Silver Guide
4 Benefits Of Investing In A Gold IRA/Precious Metals IRA
Precious metals are great assets to diversify your investment portfolio with and have historically been a good inflation hedge. In fact, there are four main reasons to invest in a precious metals IRA:
#1 Wealth Protection
#2 Hedge Against Inflation
#3 Diversify Your Portfolio
#4 Tax-Free Growth With a Precious Metals IRA
To learn more, check out this video about the benefits of investing in a precious metals IRA:
How Much Does It Cost To Start A Precious Metals IRA?
Starting a precious metals IRA involves various expenses that depend on the chosen company and storage method. Typically, custodians charge an initial fee (around $80) and a wire fee. Additionally, an annual maintenance fee of $100 is typically applicable.
It is important to note that storing precious metals at home is not recommended. Instead, investors are advised to store them at a secure depository such as the Delaware Depository. The depository offers segregated storage for $150 or non-segregated storage for $100.
In summary, the cost of starting a gold IRA can range from $180 to $350 per year, depending on the company and account type selected.
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How To Start A Gold IRA
Opening a gold or precious metals IRA is a simple process, especially when partnering with experts in this field.
To get a head start, we recommend that you request this FREE Gold & Silver Guide, where you can read about adding precious metals to your retirement savings account. You’ll also be called back by a precious metals specialist within 15 minutes so that you can ask any questions you may have.
Here’s the simple 3-step process to start a gold IRA:
✓ Step 1. Sign Your Agreement
Sign Your Agreement: Review, approve, and sign a standard customer agreement to secure your precious metals purchase and understand the terms of doing business.
Choose a custodian company: If you don’t have a precious metals custodian company, the gold IRA company you choose will assist you in setting up an account with one of their preferred custodians.
✓ Step 2. Fund Your Account
Fund Your Account: Most gold IRA companies offer convenient options for funding your account, such as bank wire transfers or mailing a check to their local offices.
✓ Step 3. Select Your Precious Metals
Select Your Precious Metals: With funds in your account, it’s time to decide which precious metals to add to your portfolio. Choose your preferred metals, and your gold IRA provider will handle the shipping.
Once you have purchased your new precious metals, it’s important to store them according to IRS guidelines for gold or precious metals IRAs. Choose a reliable gold IRA company that offers precious metals specialists to guide you through the setup process and ensure compliance with IRS guidelines.
Your precious metals investment will be stored with a custodian, just like any other IRA asset (non-IRA metals can be stored at home, but not IRA metals). Gold IRA custodians specialize in storing precious metals and provide secure vaults to keep your investment safe. They also carry insurance to protect your investments in the unlikely event of theft or damage.
Examples of common IRA-approved depositories are:
By following these 3 simple steps, you can easily start your own gold IRA and secure your investments in precious metals.
What Precious Metals Can I Invest In?
You can invest all four of the precious metals in a gold IRA – gold, silver, platinum, and palladium (bullion and coins) – as long as they meet the IRS requirements for purity.
Specifically, the rules for each metal are:
- Gold bullion should have a minimum of 0.995 purity
- Silver bullion should have a minimum of 0.999 purity
- Platinum should have a minimum of 0.9995 purity
- Palladium should have a minimum of 0.9995 purity
In other words, you’re free to mix different precious metals in a single account. The term, “gold IRA”, is a generic term used to designate an IRA that holds any physical precious metal investments.
A few select companies are licensed to also include specific cryptocurrency investments in an IRA. We recommend either BitIRA or My Digital Money for crypto IRA investments.
If you’re ready to take action, >>>request this 2025 FREE Gold & Silver Guide
Is A Gold IRA A Safe Investment?
Let’s turn this question around and ask: “Will your IRA really be safe without gold?”
Because gold prices historically move in the opposite direction of paper assets like stocks and bonds, adding a gold IRA to a retirement portfolio adds diversification and also provides an insurance policy against inflation.
This minimizes risk, especially over the long term, which makes it a smart choice for retirement investments like IRAs.
For more information about gold IRAs, you can visit these related resources:
- Gold IRA Rules: How To Protect Your Retirement With Precious Metals
- Gold IRA Tax Rules: The Ultimate Gold IRA Tax Guide For 2024
- Gold IRA FAQ: Everything You Need To Know About Gold IRAs
- Gold IRA Pros And Cons
What Gold IRA Company To Choose?
There are many options for gold IRA companies on the market, so which company should you choose?
To make your decision a bit easier, we’ve put together a list of the top 9+ precious metals and gold IRA companies that we have carefully reviewed and vetted based on BBB/BCA ratings and complaints, customer reviews, annual fees, precious metals selection, storage options, promotions, and buy-back programs.
You can feel safe taking help from any of these companies to set up a gold IRA or for regular precious metals purchases:
1. Goldco: Best Overall Gold IRA Provider
2. Birch Gold Group: The Gold IRA Specialist
3. Golden Crest Metals: Best For Integrity & Trust
4. Noble Gold: Most Personalized Service
6. Colonial Metals Group: Best Buyback Guarantee
7. Augusta Precious Metals: High-Income Investors
8. American Hartford Gold: Most Transparent Fee Structure
9. Gold Alliance: Most Affordable Gold IRA
10. American Coin Co: Lawsuit Warning!
11. BullionVault: Best Online Gold & Silver Trading Company
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| Company | Reviews | Annual Fees | Investment Minimums (IRA) | Preferred Custodian | Free Gold Kit |
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$0 | $25,000 | Equity Trust |  |
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$180 | $10,000 | Equity Trust | |
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$0 | $10,000 | Entrust | |
 |
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$80 | $2,000 | Equity Trust | |
 |
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N/A | $5,000 | Equity Trust | |
 |
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$0 | $50,000 | Equity Trust | |
 |
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$100 | $10,000 | Equity Trust | |
 |
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$180 | $10,000 | Equity Trust | |
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$0 | $10,000 | Equity Trust | |
Disclosure: This is not a financial advice article. Refer to a professional for financial advice.
