Are Gold IRAs a Good Idea?

Are Gold IRAs a Good Idea?

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IRAs are a great way to help save for retirement, but there are limits to what they can be used for. That's because the IRS taxes your IRA contributions just like regular income. However, there is a way around this rule—gold IRAs!

These accounts allow you to contribute $10,000 or more annually in gold bullion without incurring taxes on those funds. They come with the added benefit of requesting physical delivery of your IRA savings anytime and avoiding the possibility that too much inflation could take it away. You will also pay no federal tax on any gains from these investments, which means that after you retire from work (and start taking withdrawals), you will be able to enjoy watching as your retirement account becomes worth more and more as time passes.

We have done hundreds of hours of research on the best precious metals investment companies for anyone that wants to invest!

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Gold IRA Explained

Are Gold IRAs a Good Idea?

So what exactly is a gold IRA? Well, it's an Individual Retirement Account backed by gold instead of cash. These IRAs offer the same benefits as traditional IRAs, such as deferring taxes and eliminating capital gains. Still, they also provide some unique benefits you might not get with other IRAs.

Anyone who owes investment income taxes should consider getting a gold IRA. These IRAs are a great way to ensure that your hard-earned money is saved for the future without giving the government extra funds it does not need. You can also use some of the money from your gold IRA to live on after retirement without feeling bad about using savings from an account funded solely through tax deductions and capital gains exemptions.

Anyone with investments they have to report as income will benefit significantly by setting up a gold IRA account. But even if you don't have any taxable income from investments, a gold IRA can still be beneficial.

After all, plenty of people contribute to traditional IRAs simply because they want to defer paying taxes on their earnings. And while it is indeed nice not having to pay taxes on the money in your IRA account, you may get more benefits than you think once you set one up.

Why Invest in a Gold IRA?

Are Gold IRAs a Good Idea?

The first benefit of a gold IRA is that you'll have the same protections as you would with other IRAs. You'll be able to use this money for anything you need during retirement, such as purchasing a home, traveling, or investing in businesses. You know that your money is securely held in a physical object, so you can feel more secure about the safety and security of your investments.

A gold IRA account also helps to protect your hard-earned savings from the biggest threat to it—inflation. Gold is a very stable store of value compared to many other investments like stocks and bonds.

Because the supply of gold is lower than more popular investments, it will help to protect your savings from being devalued by inflation.

In addition, a gold IRA account also has tax advantages. You can open one without being taxed on your contributions. If you invest in a gold IRA and put $10,000 into it right away, you won't have to pay taxes on any earnings you make while that money is in the account.

Once that money is withdrawn at retirement age, you will be taxed on any growth while your money is invested in gold.

Another benefit of gold IRAs is that you can withdraw from them at any time, just like a traditional IRA. If you were required to withdraw money from your traditional IRA before age 59 1/2, you would be taxed on any earnings. However, you can withdraw as much money as you want with a gold IRA account without paying taxes on any gains (though any losses will still incur taxes).

Why Avoid Taxes on Your Earnings?

Are Gold IRAs a Good Idea?

The most important benefit of a gold IRA is not that it doesn't tax your earnings but that it does not require you to pay taxes if the account's value falls below some threshold at any time.

This is a significant benefit because you can invest in gold, but your entire account will be liquidated if the value falls below some dollars. For example, if you started the account with $10,000 worth of gold and it fell to $5,000 at any point in time, you wouldn't have to pay taxes on the entire amount. In this situation, anyone with contributions they have to report as income should seriously consider getting a gold IRA.

Gold is by far the most stable form of currency, and it is perfect for storing money because it does not lose value over time like other forms of currency can. However, there may be better ways to invest in gold than traditional IRAs because of the IRS's rules about how much you can invest in them.

Gold IRAs provide another option for people who want to invest in gold because of the security, long-term value, and tax benefits. Opening one of these accounts allows you to invest as much money as you want in gold and not lose any earnings.

You can also adjust your IRA account by increasing or decreasing the amount of gold stored there. If you are looking for a way to save for retirement, consider opening a gold IRA account and investing your money in something that will last.

This article recommends the three best companies if you choose to invest in a gold IRA. They offer the best services when it comes to a gold IRA.

Best 3 Companies to Invest In a Gold IRA

#1. Goldco


Goldco is one of the world's largest gold dealers and has done so for over ten years. The company has more than 500,000 customers in over 60 countries worldwide.

Goldco helps customers set up and maintain Gold IRAs. The company does this by selling gold to them at a low cost per ounce price and storing it in secure vaults for the customer or delivering the product to the client's gold dealer of choice. Goldco's services are available for gold, silver, and platinum IRAs and offer various IRA investment options.

Goldco offers gold IRAs at a low cost of $1,000 per ounce. You can purchase one gram of certified gold or one troy ounce and invest in any other type of IRA at Goldco's discretion. Goldco also offers many different investment options for its customers, including private precious metals accounts (Gold IRA), individual precious metals trust accounts (Gold Trust), private investments in precious metals (Precious Metals Income Plan), and physical gold delivery.

The company is top-rated in America for customer satisfaction, and Barron has recommended Goldco as having the "Best Gold IRA" as well. Goldco offers both a free and a low-cost option for customers who wish to purchase gold, and it provides a variety of ways for customers to invest in gold.

Pros & Cons of Goldco


  • Portfolio diversification: Goldco diversifies the value of your IRA by storing it in other precious metals.
  • Hedge against inflation: Goldco offers a "Gold Price Guarantee" that ensures that you will always receive the exact value of your gold at the exact time, ensuring that you get the most gold possible for your money.
  • No hidden fees: Goldco does not charge any fees like commissions or other charges.
  • Private delivery: Goldco allows clients to mail their gold IRA to be stored by Goldco in its vault(s).


  • You can't store gold at home: Goldco does not advise customers to store their gold at home.
Augusta Precious Metals

Based in the U.S. but with offices across over 30 countries, Augusta Precious Metals is an international gold, silver, and platinum investing company.

Augusta offers gold, silver, and platinum IRAs available in various forms and has no fees or commissions to purchase. The firm's "Secure Vault Storage" has become known as a high-security storage facility for precious metals in several countries worldwide. Augusta also offers a variety of other investment services like "Precious Metals Trust Accounts," which gives investors who want to buy physical gold the opportunity to do so at a fraction of the price for current market prices.

Augusta provides clients with the same services as Goldco and other companies but at a fraction of the cost they offer. Augusta will store your precious metals in a private vault or store them with partners, and you may have the option to have the metal delivered to you.

Augusta will safely store gold, silver, and platinum; you can purchase gold for as low as $250 per troy ounce. You can also buy gold coins at lower prices than other companies. Augusta offers a variety of other services that include gold coins and more.

Pros & Cons of Augusta Precious Metals


  • Long-term partner of Kingdom Trust: Augusta has partnered with Kingdom Trust, the company the U.S. government uses to store their gold.
  • Competitive pricing: Augusta has a competitive pricing structure for its customers.
  • Free storage: You can store your gold and precious metals in Augusta's vault.


  • Thorough, transparent process takes slightly longer than other companies.
American Hartford Gold

American Hartford Gold offers gold IRAs available in both stocks and bonds, with all fees included in the cost of the gold you purchase. The firm's "Gold IRA" allows investors to invest 1 gram of gold at $1,300 per ounce. You can buy more gold at a lower price than other companies and invest it in different precious metals; however, American Hartford Gold charges a fee for each additional gram of material you purchase outside of this amount.

American Hartford Gold's pricing structure offers a competitive rate, with various pricing options to suit any investor. American Hartford Gold has partnered with multiple gold dealers to trade precious metals and transfer them into your account. You may have the option to deposit your gold in the company's vault instead of being delivered by courier.

American Hartford Gold offers the same services that other companies provide for their customers but at a lower price than other companies. You can invest in other precious metals like silver or palladium at better rates than most companies. American Hartford Gold also offers partnerships with many different brokerages across the world.

American Hartford Gold has had strong customer satisfaction ratings since it opened its doors. Independent research has consolidated the company's "Gold IRA" in the top 1%. American Hartford Gold has been recommended by several financial analysts who are not affiliated with the firm.

American Hartford Gold is a spreadsheet alternative to buying precious metals through the web and trading metals at other brokers, which can be a more common way of buying metals nowadays. American Hartford Gold allows customers to invest in stocks or bonds and into gold and other precious metals, making it much easier for customers to invest in precious metals while offering more benefits than just investing in gold.

Pros & Cons of American Hartford Gold


  • Competitive pricing: American Hartford Gold has a competitive pricing structure for its customers.
  • Gold Loan: American Hartford Gold offers the "Gold Loan" option, which is an option that allows customers who are experienced investors to invest in gold and silver through their traditional IRAs, based on a loan you agreed to take out with the firm's partners.
  • Private storage: You can store your precious metals in American Hartford Gold's vaults at no cost or charge; however, there may be a fee if you choose to deliver these metals instead of storing them.


  • The company website does not offer transparent pricing.

Final Thoughts

Gold IRAs offer a lot of benefits for investors who are looking to invest in gold and precious metals, but the fact remains that there are only a few features that standard gold IRAs have. One of the main benefits that many investors look at is how cheap it can be to buy gold through an IRA account, but this depends on what you're buying gold for. Overall, investing in a gold IRA through a good company is recommended.

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