Disclaimer: Some or all of the companies listed on this page my provide compensation to us. This is how we maintain our free service for consumers that visit us. Compensation & hard research determine where and how companies appear below.
If you're a savvy investor, you're always looking for the best ways to maximize your earnings and make sure you're ready for the future. With the current state of the stock market, you may be wondering whether leaving all of your money invested in stocks and bonds is really the best course of action. You may be exploring alternative investment options, including investing in precious metals through a Gold IRA.
When you've decided that diversifying your portfolio with precious metals is the best move for you, the next step is to choose a trusted company to work with. Charles Schwab is one of the most respected firms for investing in stocks and bonds and setting up a traditional IRA, so it only makes sense to wonder if they also offer Gold IRAs. We'll share more information about Gold IRAs and explain whether Charles Schwab can help you open one to save for retirement in the next few sections.
What is a Gold IRA?
A Gold IRA, also called a precious metals IRA, is a type of Self-Directed IRA where you can hold gold, silver, and other precious metals in your retirement account. Gold IRAs let you diversify your holdings to make sure you aren't as vulnerable to the ups and downs of the stock market. When some of your money is invested in precious metals, a market dip won't have as significant of an impact on your total portfolio.
Gold IRAs offer several benefits. As with traditional IRAs, you'll benefit from the tax laws in place for IRA holders. This means your money can grow without you having to worry about paying taxes until you make withdrawals. You'll also get the benefits of owning precious metals, which are so highly prized around the globe. For centuries, they have been seen as a valuable possession to own, and there is no sign of that changing. Between the high demand for these precious metals and all the new uses that are being developed for using them, many experts predict that they will continue to grow in value over the coming years.
Does Schwab Have a Gold IRA?
No, Charles Schwab does not offer Gold IRAs. They do not directly sell any gold, silver, or other precious metals, and therefore, cannot help their clients set up a Gold IRA. Similarly, you cannot purchase gold, silver, platinum, or palladium from Charles Schwab to keep in your own possession outside of an IRA.
Is There Any Way to Invest in Gold with Schwab?
While Charles Schwab does not offer Gold IRAs, their customers can still add some precious metals exposure to their portfolio or retirement account. However, it will look quite different than actually opening a Gold IRA where you'll be able to hold physical gold and silver bars and coins.
Investing in precious metals derivatives is the only option Schwab customers have when it comes to adding exposure to precious metals in their portfolios. These derivatives can include ETFs or mutual funds focus on the specific type(s) of precious metals you're looking to invest in. A Gold ETF is traded in the same way that stocks are. The assets in a Gold ETF are backed by precious metals and offer the opportunity for a small exposure to gold.
Some financial experts recommend Gold IRAs over Gold ETFs. With a Gold ETF, you're not holding the physical pieces of gold that you'd have in a Gold IRA. The value of your Gold ETF will also likely mirror the ups and downs of the stock market, which often is one of the appealing aspects of diversifying with a Gold IRA that isn't as tied to the market. There are also several types of ETFs, which can make it challenging to find the right one. You'll have to closely read the fine print to make sure you're not agreeing to something you don't want.
Can I Rollover My Schwab IRA into a Precious Metals IRA?
Yes, a Schwab IRA should be eligible for a Gold IRA rollover. Your new IRA account won't be managed by Charles Schwab, however. You'll need to find a precious metals investment company to work with. The representative you work with will help you set up your new account. They'll also work with you and a Gold IRA custodian to move the monies from your existing retirement account to your new Gold IRA. Because Gold IRA companies are experienced with this step, you won't need to worry about facing any fees for withdrawing money from your existing account too early or owing any fees.
What Precious Metals Can You Hold in an IRA?
If you're new to the world of Gold IRAs, you may have several questions about which precious metals you can hold in your new account. With a Gold IRA, you can hold gold, silver, palladium, and platinum in your portfolio. While they are often referred to as Gold IRA companies they're also called Precious Metals IRAs, which should help you understand why silver, palladium, and platinum can also be held in your account.
However, you can simply add any gold, silver, platinum, or palladium coin or bar. The metals you choose must meet the purity standards created by the IRS. These standards state that all gold bars or coins (with the exception of the American Eagle Gold Coin) need to have a minimum purity level of 99.5%, all silver must be at least 99.9% pure, and all platinum and palladium bars and coins need to be at least 99.95% pure.
While these purity requirements do exclude some historic coins, such as Morgan Silver Dollars or gold Liberty Dollars, there are still several different bars and coins that do meet the purity requirements. The exact bars and coins that you'll be able to choose for your portfolio will vary depending on which precious metals company you choose to work with, but you'll find a few popular IRA-approved gold, silver, platinum, and palladium coins listed below.
Gold
Silver
Platinum
Palladium
Where are Precious Metals for IRAs Stored?
Precious metals for IRAs must be stored in an IRA-approved depository. This is per the requirements put in place by the IRS, and there are very few exceptions to the rule. So, if you were thinking of storing your precious metals in your safe at home, you'll have to think again. You cannot take possession of your precious metals before you retire; otherwise, you're facing the potential for serious fees and taxes.
While a depository may not be your first choice (or maybe it is), they really offer exceptional security to keep your precious metals safe. From first-class vaults, multiple layers of security and passwords, and constant monitoring, your gold, silver, and other security measures, your precious metals will be secure. Full coverage insurance policies are also held by each depository to further protect your precious metals.
The Delaware Depository, Brink's Global Service, and International Depository Services are among the most popular IRS-approved depositories. However, there are some other approved options. You can reach out to any precious metals companies that you're considering working with to find out which depository they work with.
Schwab Gold IRA Alternatives
While Charles Schwab doesn't offer Gold IRAs, there are several other companies that do offer this service. Before you sign up with the first company you look at, however, we'd recommend doing some research. All Gold IRA companies are not the same, and many are not worthy of your trust or business. The five companies we've highlighted below have proven themselves to be among the top companies in the industry. Read on to learn more about these exceptional options to decide which one you'd like to work with to open your new Gold IRA.
#1. Goldco
Goldco is our top-recommended company. Since 2006, they have been helping their customers invest in precious metals, both through personal investments and by setting up Gold IRAs. Goldco has earned the highest scores possible from the Better Business Bureau and Business Consumer Alliance, along with rave reviews from past customers. They have certainly developed an exceptional reputation for themselves in the industry.
Goldco's team works hard to make sure that rolling over a Gold IRA is a simple as possible for their customers. They'll work with you throughout the process and be available to provide support or guidance to address any questions or concerns you may have. Goldco offers a wide selection of silver and gold coins and bars, and the team member you work with will be able to offer their suggestions regarding which pieces will best support your financial goals.
One of the best things about working with Goldco is the current promotion the company is running. Individuals who open a qualified IRA can receive as much as 10% back in free silver. This means you can further build your precious metals portfolio when you work with Goldco.
We also really like Augusta Precious Metals. This company was started back in 2012 by Isaac Nuriani to support investors in diversifying their portfolios through investing in precious metals. The team at Augusta Precious Metals is knowledgeable and experienced. You'll find that they offer excellent advice and know all the tricks of the trade when it comes to investing in precious metals. Augusta Precious Metals has earned high reviews from past customers and review organizations, like the Better Business Bureau and Business Consumer Alliance.
If you decide to work with Augusta Precious Metals, you'll always have someone to check with if you have questions about the process of opening an IRA or which coins or bars you want to hold in your account. You'll also find several different gold and silver coins and bars are available for Augusta Precious Metals' investors.
No compilation of the best Gold IRA companies would be complete without American Hartford Gold. You may have even heard about American Hartford Gold from some of your favorite celebrities and media personnel, including Bill O'Reilly, Lou Dobbs, Joshua Phillip, Dana Loesch, Scott Goulet, and Megyn Kelly. American Hartford Gold has earned the highest rating of an A+ from the Better Business Bureau and the second-highest rating of AA from the Business Consumer Alliance.
Opening a Gold IRA with American Hartford Gold is easy. Your representative will be there to assist you and offer guidance as needed. When you work with American Hartford Gold to open a Gold IRA now, you may also qualify for their special promotion. With a qualified IRA, you can earn up to $5,000 in free silver and as many as three years of no IRA account fees.
#4. Birch Gold Group
You'll also want to consider Birch Gold Group when you're looking for the best Gold IRA company. They have been in business for 2003, which means they are well-experienced and have proven themselves to be a leader in the industry. Birch Gold Group's past customers agree with this, as is clear based on the very high ratings they have given the company. Moreover, with an A+ Better Business Bureau rating and an AAA Business Consumer Alliance Rating, Birch Gold Group has demonstrated that it is a company worthy of your trust and business.
One advantage of opening a Gold IRA with Birch Gold Group is that you'll have more options when it comes to which coins and bars you want to add to your portfolio. Many other companies only allow their investors to add gold or silver to an IRA, but with Birch Gold Group, you can also invest in platinum and palladium. This option to further diversify your portfolio can help make sure you're prepared and ready for retirement when the time comes.
#5. Noble Gold
Noble Gold may be last on our roundup, but that doesn't mean that they aren't a top option to consider. In fact, just the opposite is true. Noble Gold has been in business since 2016, and since they were first founded, they have shown themselves to be among the best of the best. With an AA rating from the BCA and an A+ BBB rating, Noble Gold has a lot to offer. Their high reviews from past customers also speak to the level of service you should expect as a Noble Gold customer.
Opening a Gold IRA with Noble Gold won't take much of your time. A lot of the required steps will be handled by your investment advisor or Gold IRA custodian. For those steps that you do need to complete, you'll find that they offer lots of support and guidance during the process. Noble Gold also offers investors the option to invest in platinum and palladium, rather than just gold and silver as so many other companies do. This can help you expand your portfolio to include multiple types of precious metals if you so desire.