Opening A Precious Metals IRA

Opening A Precious Metals IRA

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You might wonder what a precious metals IRA is and why you would want to open one if you don't already have one. A precious metals IRA is an investment account that allows people to invest in physical coins, bullion, and bars of gold or silver. It will allow the tax-deferred growth of your assets until the withdrawal age.

This type of investment can be a great way to protect your wealth in the event of hard economic times and pass on something of value to your loved ones. It's a much better alternative than having your wealth tied up in fiat currency that could lose its value or be confiscated by the government.

How Do You Open a Precious Metals IRA?

Opening A Precious Metals IRA

Here are a few simple steps to open a precious metals IRA:

  • Select a self-directed IRA custodian: Custodians are companies that hold your assets on behalf of the IRA trust. They are responsible for ensuring that your funds are in the proper place so the IRS can tax the returns at your desired rate.
  • Choose a precious metals dealer: You need to choose an IRA custodian you want to work with. Then you will contact a precious metals dealer, and they will be able to assist you in opening your account. The precious metals dealer will collect your order, process it, and deliver the coins or bars directly to your IRA upon receipt of payment.
  • Decide what products to buy: You must decide what product is best for you, whether bullion, bars, or coins. It will depend on your specific situation and needs. There are a variety of precious metal products available in the market today.
  • Choose a depository: You will need to choose a depository. Your IRA custodian will work with a depository to match your requirements so that your precious metals can be delivered directly to you at the time of delivery. Precious metals must be stored in an approved depository such as Delaware.
  • Complete the transaction: Once you have made your precious metals purchase and arranged the depository, you should allow your IRA custodian to wire the funds necessary to complete the transaction.

What Are the Benefits of Opening a Precious Metals IRA?

Opening A Precious Metals IRA

Investing never lacks risk. But if you're looking for a way to grow your retirement account, precious metals could be your answer. It's a very simple process that can take just a few minutes and can help you protect your assets in the future.

The value of precious metals remains constant, reducing the risk of investing in any investment. Precious metals have also been proven to be a hedge against inflation and are very sensitive to changes in the value of money. They're also very liquid as they can be easily converted into cash and represent real assets for your IRA or 401K.

Precious metals give you full control over your account and allow you to withdraw anytime. You can also sell your precious metals anytime and cash out to live off your money in your checking or savings account. Whether distribution or allocation, you have the final say in what you do with your IRA account.

Physical assets are easier to track and verify. The assets are also outside of the reach of the government. This is important because when trying to protect your assets, you want to ensure that your precious metals will be safe in the event of a national security incident or other emergencies.

Precious metals are difficult to access for creditors and will be able to protect your assets from potential lawsuits. They're also considered a form of insurance against inflation, as well as the possible devaluation of currencies and transfer risks.

This type of investment diversifies your portfolio and could be a good option if you're trying to protect your assets against inflation. It will also allow you to take advantage of the opportunity to gain from the growing value of gold and silver when the economy is not doing well. Diverse investment holdings result in less volatility in the long run.

As already mentioned, investing in precious metals requires choosing the right IRA custodian. This article discusses the top three companies you can use to invest in precious metals.

Top 3 Companies to Invest in Precious Metals

#1. Goldco


Goldco is an IRA custodian that provides a wide range of investment options. Clients can buy gold and silver directly from them or other precious metals dealers to qualify for a precious metals IRA. Goldco has a depository available to all of its clients.

Goldco provides gold IRA rollover services to individuals and can roll over their clients' IRA into a precious metals IRA. Also, Goldco works with many of the top bullion dealers. Goldco has an extensive product line, including SGL, PMAG, and various sizes of 1 oz bars and coin rolls.

The company has an on-site assay laboratory to verify the weight of your holdings. Goldco makes it easy for customers to purchase their precious metals products from the comfort of their own homes by dolling out insurance against theft or damage during delivery. They allow the commercial sale of precious metals, saving you from relying on alternatives in your pension.

The company excels at customer service, integrity, and communication. It is trusted by many clients who have received the gold they ordered. The company has transparent procedures making it easy for clients to understand their investment.

Goldco's required minimum purchase is $15 000, and the company charges a flat annual fee rather than a percentage of assets. Goldco charges a one-time set-up fee of $50 to set up the IRA and a one-time wire fee of $30. Custodian and gold storage fees depend on the type of bullion you choose.

Pros & Cons of Goldco


  • First-year fee waived off: Goldco charges no annual fee for the first year.
  • High buyback offer prices: Goldco has been known to buy back the gold their clients ordered at a better price than their previous offer.
  • Streamlined account set-up: Goldco is quick and easy to set up.
  • Wide range of products: Goldco provides various types of bullion bars and coin rolls, gold-backed investments, and other precious metals products.
  • Expert help every step of the way: Goldco staff is experienced and knowledgeable about precious metals investments. The company offers guidance to clients from its highly trained staff.
  • Ability to diversify your accounts: Goldco allows for more than just precious metals to be added as part of your investment portfolio.


  • Storage fees may not be ideal: the storage fees charged by the company can be quite high.

Why We Chose It

Goldco is a trusted company you can rely on for all your precious metals investment needs. It has the highest ratings from its clients and provides high-quality service.

Augusta Precious Metals

Augusta Precious Metals is a trusted gold and silver IRA provider. The company is one of the largest gold coin dealers in the United States. It has a high-security vault and storage facilities to protect your precious metals investment.

The company has a lifelong clientele because it provides exceptional service with integrity and reliability. Augusta offers a wide range of precious metal products, including bars and coins.

The company is endorsed by Joe Montana and is one of the Gold Ira companies with no negative complaints. Augusta prides itself on customer service and keeps its clients happy. The company is known to ensure that its clients are always kept up-to-date with the status of their investments.

The company provides all the benefits of a precious metals IRA including tax savings, wealth protection, overvalued currency, and diversification of your portfolio, to name a few. Augusta also offers great prices on all its products and free shipping on large orders.

Since its founding in 2012, Augusta has grown tremendously and is determined to provide excellent service to its clients.

Pros & Cons of Augusta Precious Metals


  • Seamless ordering process: Augusta has a simple order system that is easy to follow. The company has transparent pricing options, so you're always aware of what you're investing in.
  • Wide choice of precious metals: Augusta offers a wide range of bullion coins and bars for your investment. Each product page on their website gives the product details and pictures, letting you know what products you're buying.
  • Prices points: The company also offers different price points for ordering small or large products, giving their customers great options.
  • Free one-on-one web session: Augusta offers a free web session to you after you submit your application. Clients can take advantage of their experienced staff to get any questions or concerns answered.
  • Customer education: Augusta is committed to educating its clients on the value and benefits of precious metals.


  • $50 000 minimum: Augusta requires clients to have a minimum of $50,000 of assets in their account.

Why We Chose It

Augusta Precious Metals is a trusted and reliable company that provides high-quality service for its clients. The company has quick, seamless ordering and is known for its excellent customer service.

American Hartford Gold

American Hartford Gold is an independent precious metal IRA provider. The company is based in Los Angeles and offers precious metals investment to investors in the United States. American Hartford Gold provides various gold and silver products, including bars, coins, and rounds.

The company also offers platinum and palladium products, including coins and rounds. American Hartford Gold's products are held in a secure storage vault and will be insured against theft or damage during transit. American Hartford Gold has a lifetime clientele for its high-quality service and dedication to the welfare of its clients.

The company has experience working with families and individuals and has expertise in precious metals investing. The company also offers various online educational resources for your investment needs. It also has a straightforward web design that is easy to navigate.

American Hartford Gold has a highly efficient order system that makes it easy for clients to submit orders. The company also provides fast and efficient shipping for all its customers. American Hartford Gold provides 24-hour phone support to keep you in touch with your precious metals’ investment.

The company is among America's fastest-growing private companies and is praised for its commitment to excellence and cultivating client relationships.

Pros & Cons of American Hartford Gold


  • Excellent customer service: American Hartford Gold provides great customer service in a timely, efficient, and friendly manner.
  • Wide range of products: American Hartford Gold has a wide range of precious metals investment products that can be added to your investment portfolio. The company also offers an array of custom and personalized orders.
  • Top-notch storage facilities: American Havana Gold has one of the highest security levels in the industry. The company always keeps its precious metals safe and secure in its storage facilities.
  • Secure storage and insurance: The company's inventory is held in a secure facility that is insured against theft or damage during transit.
  • Competent staff: American Hartford Gold is committed to the welfare of its clients and always aims to provide excellent service.


  • Lack of a price listing in the company's catalogue: The company does not have a product price list on its website.

Why We Chose It

American Hartford Gold is known for its high-quality service and commitment to educating its clients. It offers fast shipping, excellent storage facilities, and a wide range of precious metals investment options. The company also has the best industry security standards, so all products are always safe and secure during transit.

Frequently Asked Questions

How are precious metals held and stored?

All precious metals are maintained and stored by custodians of record. This third-party company keeps all precious metals in a secure and confidential location.

Are there any taxes?

There are no taxes on precious metals as they are not considered a security but a storage method.

What types of metals can be held in the IRA?

Many types of precious metals can be held in the IRA, such as gold, silver, and platinum.

Is it expensive to have a precious metals IRA?

A precious metal IRA is affordable and can be set up with any account size. No annual fees or charges are incurred when having a precious metals IRA.

What kind of metal can I put in a precious metals IRA?

Any precious metal could be put in a gold, silver, or platinum IRA. The amount of each type of metal would be determined by the weight of the precious metals.

Can I buy more than one type of precious metals (e.g., gold and silver) in my IRA?

Yes, you can buy more than one type of precious metal in your IRA (e.g., gold and silver). All the different types of metals can be bought together or separately.

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