How Do I Convert My IRA to a Gold IRA

How Do I Convert My IRA to a Gold IRA

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Wouldn't it be nice if you could transform your IRA into tangible, real-life gold without paying the penalty? It's possible with the help of an IRA rollover to precious metals, including gold. The catch is that you need to know what you're doing or run into trouble.

IRA conversion to precious metals like gold and silver requires one critical component: knowledge. If you know, then go ahead and make a move. Otherwise, look for a company that can convert your IRA into pure metals without any penalties so that no money ever has to exchange hands between yourself and the seller.

To understand how to convert your IRA gold, we need to understand the constraints that keep most of us from making such a move. First, you can't "take" your IRA funds out of their current holding company and transport them to your house, or another account abstracted from the government.

You have to stay in the system if you don't want a penalty. If you have a standard IRA, it's one of the trickier ones. It's "stuck" within your traditional IRA custodian; as such, it can only be rolled into an account with that same custodian.

A Roth IRA is much more flexible than a traditional one and, therefore, easier to convert to real gold. You roll it over into another Roth IRA account somewhere else, provided the new one has precious metals investment options.

If you're under the age of 59 1/2 and haven't taken the required RMDs from your IRA, then there's another constraint; You can't take physical gold out of the system.

What you can do is convert your excess cash into gold. Once you satisfy all of those constraints, you can move your IRA funds into another custodian that allows this conversion and set up a new precious metals account.

Setting Up a Precious Metals Account

How Do I Convert My IRA to a Gold IRA

That's when the problems start. If you don't have any assets in precious metals and don't have an IRA rollover to do it with, then you have to buy some gold or silver yourself (or get it from somewhere else). This means you'll have to go to a precious metals dealer and transfer the money to your new account at a pre-determined price (buy it yourself or buy it from someone else).

You then need to figure out how to hold gold. And that is the difficulty.

The most common way to hold gold is in a Gold IRA. For that to work, you need a precious metals broker who deals with low-cost, high-quality metals. With precious metals investment accounts like these, you can get some of your cash back as pure gold bars in exchange for a fraction of the amount of metal you've given them. That's how it's supposed to work.

Unfortunately, there are a lot of brokers out there who need to follow the rules. They charge their customers more because they can. They sell less than what's required because they're paid to.

There are also many more brokers who think you can have your cake and eat it too. They take whatever metals you give them and then turn around and sell them for less than market value creating a nice profit for themselves, which is just what the law says precious metals dealers must not do.

The Better Brokers

How Do I Convert My IRA to a Gold IRA

The solution is to find a better broker that doesn't do any of those things. The best way to do that is to look for an IRA rollover company whose sole job is to help you transfer your current IRA into gold or another precious metal.

A huge majority of these guys can be found on the Internet, and they will offer you a service and price at which you can buy the gold yourself, or they'll buy it for you. They then move your money into the new account, set up your holdings, and hold it for a fee. Here's where things get tricky again.

You need to know how different accounts work with various brokers to choose the best one. There are many different accounts out there, so you need to know what's available to select the one that fits best with the metals you want to purchase. This requires research and understanding of how your account and their account work together.

You might be surprised at how many variables are involved. Since there are so many variables, it's best to consult a fine gold and silver broker who can help you pick the right type of precious metal to account for your needs. There is no question that this can be a lot of work, but it's far less than jumping through all the hoops required to put gold into an account with another custodian.

This article recommends the best top three companies you can use for the brokerage to convert your IRA to gold.

#1. Goldco

How Do I Convert My IRA to a Gold IRA

Goldco is the expert gold IRA company that specializes in helping you take your IRA funds out of the system, leaving them "invisible" to the government. This means that when you roll over your IRA into precious metals, no money changes hands, and no banks will see it. You also get a nice price from Goldco on the precious metals they buy for you to use in your new account.

Goldco is an industry leader in direct purchases of gold and silver. The company also specializes in setting up precious metals-backed accounts. This company is 100% dedicated to helping you convert your IRA into gold or silver to escape government control and help preserve the value of your assets.

This is a great option for people who have an existing IRA and want a better rate on their assets. With Goldco, you can buy whatever quantity of precious metals you want at market value, which helps you preserve your wealth over time. You can also store the precious metals in the account, making them accessible when needed.

Pros & Cons of Goldco


  • Ability to diversify your account: You don't have to buy gold or silver from a singular source. Goldco works with numerous brokers, so you can buy gold or silver from as many sources as you'd like.
  • Expert help: The company puts you in touch with a wealth of knowledge and experience in precious metals investment. The company also has an extensive consumer advisor department that helps educate you on what's available in today's marketplace as well.
  • Education and transparency: Goldco is one of the first precious metals brokers to offer an easy-to-use website that guides you through everything from how to buy gold or silver to handling tax issues involved with buying precious metals. They also have a team of advisors who are available 24/7.
  • Streamlined account set up: The company will set you up with an account that works for your needs. They are dedicated to making sure that the metals you buy stay in the account and don't have to be sold by the company.


  • Stiff competition when it comes to minimum investment prices.

Why We Chose It

The company's reputation speaks for itself regarding its dedication to helping consumers safely get their hands on precious metals. They have a team of advisors who are available 24/7 and offer a streamlined service that allows you to set up your account and ensure you're able to secure the best price possible for the number of metals you need.

Augusta Precious Metals

Augusta Precious Metals is a top precious metals company that's focused on providing you with the highest level of service available in the marketplace. They take pride in protecting your assets and helping you to preserve your wealth over time. They also provide one of the lowest rates on precious metals out there so that you are paying the right amount for your assets.

Augusta Precious Metals works with other companies to get the job done, giving you a choice regarding where to buy your metals. The company also has an excellent loyalty program, which gives you bonus points every time you use their services.

Investing your savings in gold can be scary if you don't know what to expect. With Augusta Precious Metals, you can ensure that your money is working as hard as it can without being taxed by the government. This company is dedicated to helping you make smart moves with your money.

Pros & Cons of Augusta Precious Metals


  • Prioritizes customer education: The company's primary focus is helping people make the best decisions when it comes to investing. You can get all the information you need to make sure that your money is working as hard as possible.
  • Strict confidentiality: The company protects your account from being accessed by anyone who shouldn't have access to it. This means that no one can see the metals you buy without your permission if you have multiple accounts with Augusta Precious Metals.
  • Competitive fees: Augusta Precious Metals is dedicated to getting you the best price on your metals. The company also has a rewards program that gives you bonus points when you use their services.


  • Premium coins have a higher markup.

Why We Chose It

Augusta Precious Metals is a highly reputable company that's been around since 2012. You can work with a dedicated account manager who will help you make the best decisions for your money. This is also a highly competitive company with the lowest rates on precious metals.

American Hartford Gold

American Hartford Gold works with several precious metals brokers in the US to provide you with the best possible price on your metals. You have access to some of the top gold dealers and silver dealers in the US when you use their services. They also have excellent customer service and make it easy to see what's available during any given period.

American Hartford Gold is dedicated to making it easy to put gold or silver into your account without anyone else knowing about it. The company will also help you move your precious metals between accounts if needed so that you don't risk being seen by someone who shouldn't see your assets.

The company's primary offering is getting you the best price on your precious metals. You get a small markup from most gold and silver dealers in the US, so this is a great way to find out how much you're paying for gold or silver without having to make the purchase.

Pros & Cons of American Hartford Gold


  • Positive reviews and ratings online: The company is ranked highly when you search for reviews and ratings online regarding their services. You can get a better idea of how people feel about their services by checking out what other people who have used them have to say.
  • Wide selection of coins and bullion: The company has one of the widest selections of products in the industry. You're able to get a decent selection no matter what your preference is.
  • Special promotions and deals: The company has many upgrades and discounts so that you can save money when you buy precious metals at American Hartford Gold.


  • The website doesn't have a transparent price list.

Why We Chose It

The company provides you with some of the best prices in today's marketplace, which helps you save money over time. They have an excellent track record for customer support and offer many different promotions for their loyal customers.


What precious metals can I invest in with a gold IRA?

Gold is the most popular choice when investing in precious metals. You can also get your hands on platinum and silver coins and bars. Gold is a good way to protect your assets, especially if the price keeps rising over time.

Is it legal to own gold in an IRA?

Yes, holding gold in an IRA is permitted so long as the company you're working with doesn't set any restrictions on what you can buy or own when investing in precious metals. You must confirm that they don't have any limits before establishing an account with them.

What if I miss the 60-day rollover deadline?

You should ensure you roll your assets to a new account before the 60-day deadline. If you don't, you could lose your entire investment.

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