This is a complete guide to the best Gold IRAs on the market in 2021.
If you are looking to buy gold in a tax-advantaged way via your 401k or IRA, this is the page for you.
We will cover:
You are probably here because you already know you want a gold IRA.
Below you'll find our favorite custodians.
We'll explain why we love them and why you will too.
iTrust Capital is another option for investing in gold through a self-directed IRA.
iTrust Capital also supports a range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), and EOS (EOS), but in terms of precious metals the only supported asset is gold.
In a move that may appeal to blockchain enthusiasts, iTrust Capital issues and tracks ownership of gold on a distributed ledger. Gold purchased through an IRA with iTrust Capital’s partner SunWest Trust is secured by VaultChain.
Gold is stored at the Royal Canadian Mint. Purchasing gold through iTrust Capital represents legal ownership of the physical commodity and the right to claim delivery, not a derivative, security, futures contract or other financial instrument.
iTrust Capital’s $29.95 monthly account fee includes set-up of your IRA account at SunWest Trust, any contributions and/or rollovers, IRS and tax reporting, and unlimited storage of gold with institutional providers.
iTrust Capital requires a minimum initial investment of $1,000, and each trade must be over $30 in value.
JM Bullion has a great reputation among seasoned buys of PMs. What’s more, they also accept payment in BTC and ETH, and clearly specify which coins are eligible for IRAs. All orders are shipped free of charge, with insurance and tracking provided.
JM Bullion has partnered with New Direction IRA to offer gold and silver IRAs.
If setting up an IRA with New Direction, you’ll work with them to fund the account. Once your money is available, New Direction can send a Buy Direction Letter to JM Bullion, who can then go through the process of purchasing eligible gold to hold in your account.
The physical gold is then shipped to a depository of your choice, as long as it conforms to the IRS standards outlined above.
JM Bullion does not charge any supplemental fees or commissions, the price you see is the price you will pay.
New Direction charges a $30 account opening fee, in addition to a $95 flat fee for precious metal investments under $100,000 in value, and $145 for investments over that figure. The complete fee schedule is available here.
Equity Trust charges a $50 signup fee, and annual maintenance fees on a sliding scale from $205 for portfolios up to $14,999 and $2,050 for portfolios above $1MM.
GoldSilver also supports a number of other custodians, including New Direction - JM Bullion’s preferred partner.
Noble Gold is a proudly Texas-based gold dealer and IRA provider. In addition to gold and silver IRAs, Noble Gold offers investors the opportunity to invest in four digital assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
Noble Gold charges an annual fee of $80, or $150 if you opt to store your gold at one of their facilities in Texas or Delaware, where it will be held in segregated storage (i.e. not in the same pile as other investors’ gold).
Regal Assets: target=”_blank” } has been around since 2009 and offers their own precious metal and crypto IRAs.
Regal Assets offers a range of coins, from the classic American Eagles and Buffaloes to more exotic options like the Chinese Panda and South African Krugerrand.
There is a flat $250 account fee regardless of portfolio size, though this fee will be waived in the first year of investment.
You must invest at least $5,000 to qualify for the company’s lowest tier offering: the Merchant package.
Now that you know our favorite Gold IRAs, we will tell you the process for setting one up.
These days, it is super easy and all of the custodians above make it simple for everyone.
Setting up a gold IRA is a straightforward process.
Research the different trustees and custodians that offer self-directed IRA accounts. Many will specialize in certain asset classes, such as stocks, bonds, Certificates of Deposit (CDs), annuities, and mutual funds.
Make sure that the provider you choose supports precious metal IRAs.
Fill out the application form. You will need your Social Security Number and an approved form of photo ID.
Next, you’ll need to fund the IRA with (fiat) money. This can be a one-off wire transfer, or a recurring payment scheme.
You can also transfer money from another IRA account.
Finally, you’ll need to purchase the gold that will be held in your IRA.
As self-directed individual retirement accounts are not subject to the same rules as managed funds, the burden of making sure that your investments are appropriate rests on you.
With these considerations in mind, let’s take a look at some of the best Gold IRA options currently on the market.
Curious about how to buy gold coins specifically in an IRA?
We've got the answers for you right here!
Buying gold coins for an IRA is a little bit different than buying them to custody yourself.
The Internal Revenue Service has a list of approved coins that meet their standards and can be held in a Gold IRA.
Like all gold products for an IRA, you will need to purchase and trade them through the IRA custodian.
The Custodian will also custody the gold coins for you.
1-ounce gold coins are one of, if not the best, sized gold coin to buy due to their prevalence on the worldwide market.
Prevalence is critical in a market as it makes the coin easier to trade. You’ll have a hard time finding someone who won’t take you up on buying or trading for a coin such as a 1-ounce American Eagle.
You’ll find that many common 1-ounce coins, such as the Gold Maple Leafs, apply to IRA accounts.
1-ounce gold coins provide you the most overall value.
There are several banks nowadays that sell gold coins. Chances are you’ll have to call up a bank to see if they sell gold coins. Many banks won’t openly advertise that they sell gold coins for safety measures.
Unfortunately, any gold coins you buy from a bank cannot be stored in your IRA.
Curious about how to buy gold bars specifically in an IRA?
We've got the answers for you in this chapter!
Since gold bars are one of the gold industry’s anchors, you can expect reputable IRAs to allow them for your investment.
The Internal Revenue Service has a list of approved bars that meet their standards and can be held in a Gold IRA.
When looking at buying more significant amounts of gold, gold bars are your best bet, and obtaining them through your IRA custodian is the best way to obtain them. In fact, any IRA that allows you to hold the bars yourself is not a compiant IRA and you should not use that custodian.
Gold bar prices are categorized mainly by weight. Many gold bars will have their weight printed on the bar. Online sites will categorize these sizes to make browsing simple.
Before you start shopping for gold bars, it’s best to check in with the current spot price of gold. The vast majority of gold-selling websites feature live tracking charts of current gold spot prices.
Gold price charts on websites such as GoldSilver are interactive and easy to read so that even the most novice investor will feel informed.
All pieces of gold sold have premiums associated with their cost. Larger gold bars tend to have smaller premiums than smaller bars. Premium charges cover:
Gold spot prices are from speculation in the markets, values of currency, world events, and other factors.
Weight is the main factor that influences the price of a gold bar. Standard weight classes of gold bars include:
People tend to buy gold bars in higher weight amounts compared to buying gold coins to get more investment value for their money.
Gold bars are less maintenance to store in higher value quantities than other forms of gold, such as coins. You’ll get more ounces of gold for your money when purchasing gold bars.
Buyers of gold bars view their purchase as a long term investment. If you’re looking to make quick sales in times of need, gold coins are a more suitable option.
Economic factors such as inflation can affect your investment portfolio. Investing in gold helps mitigate financial pressures as gold serves to hedge investors against inflationary periods. If you’re looking to invest in gold, try to make your investment during a time when inflation is rising.
There are several ways in which you can invest in gold. This article will serve to educate readers on the dealers that offer investors the opportunity to invest in physical gold, and more specifically gold bars.
We've explored all the best gold IRAs.
But maybe you are still unsure of what a Gold IRA actually is.
You're about to find out.
A Gold Individual Retirement Account (IRA) is a type of retirement account in which you can hold precious metals (PMs), usually gold but also silver, platinum, and palladium.
This type of account is similar to a regular IRA, the difference being that instead of holding paper assets such as equities or bonds, your custodian holds physical bullion on your behalf.
The IRS also has strict requirements for the storage of the precious metals in an IRA.
The trustee or custodian must be a bank, a federally insured credit union, a savings and loan association, or an entity approved by the IRS to act as trustee or custodian.
This effectively rules out self-custody of assets, and mandates storage in a facility which includes security features such as 24/7 monitoring, motion detection systems, and timed-release and re-locking mechanisms.
While many gold investors are wary of another Executive Order 6102 and would prefer to have physical (or offshore) custody of their gold, a Gold IRA is targeted to individuals who want to maximize the tax benefits and convenience of working within the system.
The taxation laws that apply to IRAs allow for tax-free contributions, which will both lower your pre-tax income (potentially pushing you into a lower bracket) and allows your funds to compound over the years from a higher initial starting point.
Upon reaching retirement age (currently 59.5 years) you can begin to withdraw from your IRA. These withdrawals will be taxed as income, which makes an IRA a great investment option if you think your tax bracket at retirement will be lower than your current rate.
The IRS sets contribution limits for 2019 at $6,000 if under 50 years old and $7,000 if over 50 years. Self-employed investors can contribute up to $56,000 annually.
Withdrawals before retirement age will likely incur a 10% penalty.
Many of the gold dealers and IRA providers we went through above have very similar offerings. This is due to the high level of regulation the IRS imposes on Gold IRAs, and ensures that the minimum standard is high.
It comes down to picking the option that best suits your needs. If you want to be able to pay for your gold with Bitcoin or Ether, then JM Bullion would be a great choice. If you want to invest in digital assets inside an IRA, iTrust Capital, Regal Assets, and Noble Gold have got you covered.