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.
A self-directed IRA is an Individual Retirement Account that you can open at your bank or investing house. The term "self-directed" means that you (not the financial services provider) can choose the investments for your IRA account. This may sound intimidating, but it allows you to take control of your retirement options and save on fees and taxes.
Depending on where you live, a self-directed IRA may allow for traditional IRAs or Roth IRAs to be created and other types of investments like precious metals like gold and silver, foreign currency, real estate properties, etc.
Self-directed IRAs, by and large, allow for one to two different options for investment:
What Are the Advantages of Precious Metals in My Self-Directed IRA?
Precious metals are all those elements that have a silver or golden color. In addition to gold and silver, other precious metals include platinum, palladium, and rhodium (often used as white-colored substitutes for gold). Many semi-precious stones can be seen in jewelry stores.
A great benefit of precious metal investments is that they hold their value over time—making them ideal for long-term savings. With traditional investments, you risk investing your money in something that might not be worth as much in the future. At the same time, precious metals are considered to be non-perishable wealth.
One of the best benefits of using precious metals with your IRA is that they are tax-free. The IRS considers them a tax-free investment because they are "intangible" (meaning there is no value attached). This makes them ideal for investors looking to invest in these types of assets but do not want to pay taxes on their gains or profits.
Another great benefit is that because precious metals are not just physical objects you hold, they are also a highly liquid investment. The more you buy, the more you can sell and earn profits. With other investments, this is only sometimes the case.
Precious metals are ideal for investors with long-term savings goals because they hold their value over time. This can be a huge benefit when it comes to retirement savings. While you may not see immediate gains, they will always be worth more than their current cost.
With other investments, you may invest and ultimately sell at a loss. However, precious metals will always increase in value over time and, barring unforeseen events, can hold their value indefinitely.
They are also non-perishable, have a finite supply of resources, and are very difficult to create, making them a single-purpose asset that can support people's financial needs throughout their lives. This article discusses the top three companies to invest in your self-directed IRA.
Top 3 Companies to Invest Self-directed IRA
Goldco is an excellent option for investors who want to invest in a fully regulated and insured precious metals investment. A self-directed IRA at Goldco can be a great way to use precious metals as an investment for retirement and an additional source of extra income.
Goldco is not just a precious metals investment; it offers customers the option of investing in bullion. This means that customers can add the actual metal they have invested in, gold or silver, to their account instead of just shares or bonds.
Goldco offers instant access to funds upon deposit, and an IRA can be opened within minutes of receiving funds. Goldco offers IRA wrap accounts, meaning there are no monthly account management fees, no minimum balances required, and customers do not pay interest on money already in their account.
Goldco has a loyal following of customers and is considered one of the best companies in the industry. Many customers have used Goldco for their IRAs and have had a great experience. Goldco does not charge fees for any of its services and will always use customer funds as intended when investing.
Goldco offers withdrawals at discretion, which means that customers can receive the amount they want from their account at any time. Goldco requires no minimum balance and allows customers to withdraw any amount from their account at any time.
Goldco offers many different investment options unique to precious metals IRAs, and they provide more than just gold, silver, and platinum but also palladium, rhodium, and ruthenium. Goldco also allows customers to trade in silver bullion bars, which nearly any other precious metals firms do not offer.
Goldco does not invest in futures or leverage investments, so the investment is always in physical metal and not on paper. Gold adds safeguarding measures for each account, including visits from independent auditors and multiple vaults across the country.
Pros & Cons of Goldco
Why We Chose It
Goldco is a great choice for your IRAs due to the services and features they offer.
Goldco offers instant access to investments upon deposit, allowing customers to diversify and build a portfolio faster than other companies. The company also provides withdrawal access at any time, allowing customers to take their money anytime they want in case of emergency or want or need additional funds.
Augusta Precious Metals is a company that focuses on being a full-service precious metals storage facility. They also offer other services such as precious metals education, advice, and investment strategies.
Augusta Precious Metals offers many ways to invest in precious metals with an IRA and other IRAs from different companies. Clients have a physical point of access storage. They are the only company offering segregated account self-directed IRAs, meaning that the IRA and its assets are segregated from the broker's.
Augusta Precious Metals has a network of precious metal vaults across the country, providing customers with a safe place to keep their assets. Investors can buy, sell and exchange precious metals with Augusta Precious Metals. In addition to the flexibility offered with their accounts, Augusta Precious Metals will always buy and sell precious metals at the market price that is current at the time of sale.
The company also offers immediate shipping for any metal you buy or sell, allowing instant access to your metal.
Augusta Precious Metals provides an instant access withdrawal feature for all its customers. Augusta Precious Metals will allow customers to receive the amount of metal they want from their accounts at any time.
Augusta Precious Metals allows customers to buy and sell precious metals with their self-directed IRAs. It offers an IRA wrap account which means that they offer no monthly management fees, no minimum balance requirements, and customers will not pay interest on the funds already in their account.
There are various metals to buy and sell in an IRA, including American Eagles, Canadian Gold Maple Leafs, Austrian Philharmonics, and British Sovereigns. Augusta Precious Metals also allows you to trade in silver bullion bars, which many other precious metals firms do not offer.
Pros & Cons of Augusta Precious Metals
Why We Chose It
Augusta Precious Metals offers an array of services for you to use in your IRA. It allows you to diversify your investments and automatically invest your money into options you choose from the company's list. The company also provides education and access to precious metals at market value.
American-Hartford Gold is a privately held corporation based in the United States. The company is an investor that offers precious metals as part of its retirement account.
American Hartford Gold allows customers to buy and sell gold and silver bullion in exchange for cash at market value. Customers also have access to American-Hartford Gold's vaults across the country, where they can store their assets away from home or work.
American Hartford Gold offers a variety of investment options, including traditional IRAs, self-directed IRAs, brokerage accounts, Trust Accounts, and Individual Retirement Accounts (IRA) with other financial service companies.
American Hartford Gold is the only precious metals company that offers storage solutions for IRA accounts. The company also offers asset management services; their customers can buy, sell or exchange bullion anytime.
American Hartford Gold buys and sells precious metals at spot price, which means you do not pay a markup on top of the market value. In addition to selling gold and silver, the company allows you to own physical gold and silver in your self-directed IRA.
American Hartford Gold offers a wide variety of precious metals, including platinum American Eagles (1 oz), platinum Britannia’s (1 oz), palladium Maple Leafs (1 oz), and palladium Britannia’s (1 oz).
American-Hartford Gold offers different price levels depending on the coin you are purchasing. It will typically buy larger quantities of the same precious metal at a lower price.
The company also offers gold-covered bonds and American Eagles, which can be added to your IRA. In addition to providing physical bullion in your self-directed IRA, American Hartford also offers uncertified gold bullion in their Traditional IRA and shares and ETFs that can be added to IRAs.
Pros & Cons of American Hartford Gold
Why We Chose It
American-Hartford Gold has many different types of precious metals to buy and sell with your self-directed IRAs. The company offers various investment products, allowing investors to access their accounts in most states. The company also provides an enormous selection of bars and coins, which are easy to trade into your account.
Frequently Asked Questions
How does a self-directed IRA work?
To open a self-directed IRA, you must be over 18 years of age and file a tax return yearly. Your IRA is the only asset you can own in the account. You can invest in any precious metals with your IRA, but these can only be purchased with cash.
Can I set up a self-directed IRA myself?
Opening a self-directed IRA on your own is challenging, and quite a few firms offer this service. The good news is that some require very little information from you and others do as much work for you as possible.
What is a self-directed IRA custodian?
A self-directed IRA custodian is the firm you will use to hold your precious metals. They are often companies that specialize in this area.
How do I choose a self-directed IRA custodian?
To select a suitable self-directed IRA custodian, you should look for a trusted company that is large enough to handle your precious metals needs. It should also have excellent customer reviews from loyal customers.