A gold IRA is a self-managed individual retirement account that invests in both physical gold and other precious metals. A gold IRA often has higher fees than a traditional IRA or Roth IRA, which invests exclusively in stocks, bonds, and mutual funds. Gold IRAs are specialized individual retirement accounts that hold precious metals such as gold, silver, platinum, or palladium. Like traditional IRAs, these accounts typically allow pre-tax contributions and have similar income and contribution limits.
We’ve reviewed more than a dozen Gold IRA companies and identified the best options for investors with different needs and financial sophistication. Sometimes Gold IRA companies recommend specific custodian banks, but their customers can store their precious metals at any reliable custodian bank. The leading Gold IRA companies offer unbiased educational resources, investor information, and responsive customer support. In addition to these basic fees, IRA providers can choose whether to charge their customers a commission for buying gold.
Now that your application is complete and your self-directed IRA is open, funding your Gold IRA couldn’t get any easier. The best gold IRA companies have experts who specialize in self-managed retirement accounts and can help you set up your account, purchase precious metals, and comply with tax legislation. Many of these companies allow investors to buy precious metals, which include silver, platinum, and palladium in their IRAs in addition to gold. We’ve rated the websites of Gold IRA companies together with consumer protection organizations Better Business Bureau and Business Consumer Alliance, as well as websites with customer reviews such as TrustPilot.
If your existing retirement accounts haven’t gained much value since they were opened, look for a Gold IRA company with low minimum investment requirements. Unlike a gold ETF, an exchange-traded fund that tracks the performance of gold, a gold IRA allows you to hold the physical precious metals at an IRS-approved depository institution. Patriot Gold Group has a long track record of helping investors secure their financial future through gold IRAs, and has received high marks from consumer groups along the way. Gold IRA companies are not investment companies that have a fiduciary obligation to act in your best interest.
Many consumers are wondering whether they can set up a home storage unit for the gold they buy through a Gold IRA.