What is a Gold IRA?

A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars. Precious metals IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account. Gold self-directed IRAs can include other types of retirement accounts such as, Roth IRAs, SEP IRA, SIMPLE IRA, HSA, Thrift Savings Plan (TSP), and 401(k)s. ~ Wikipedia

Ownership of precious metals has a long history of safeguarding wealth during periods of economic downturn. However, it’s over the past decade in particular that gold, silver and platinum have proven their ability to greatly outperform many other asset types. As economies all over the world continue to struggle with an array of troubling issues, this could point to tremendous upside potential of gold, silver and platinum. Market predictions even suggest the price of gold could hit new record highs in the future.

From a threatened U.S. dollar to ongoing geopolitical concerns around the world, there are a number of reasons that many people are deciding to move a portion of their assets into U.S. government-issued gold in particular.

A Gold IRA is an IRS approved precious metal and forms of bullion for IRA’s. Although investment in “Collectibles” using IRAs and Qualified Plans is not allowed, here is a carve-out allowing for investment in certain coins, as well as bullion meeting certain fineness requirements.

There may be advantages to holding gold coins as opposed to bars in a gold IRA in terms of liquidation. However gold bars are more difficult to sell due to their higher price and easier ability to counter-fitted. There are currently a variety of precious metals that meet the minimum purity requirements that are acceptable for inclusion into a gold IRA account.

Some gold IRA companies argue inclusion of certain coins in a precious metals IRA; however, several of those companies have been investigated by the government for misleading customers and aggressively selling numismatic coins over gold bullion. Numismatic coins pay the gold company higher commissions, but bullion bars more directly reflect the spot price of the precious metal.

Most Recent Gold IRA Articles

Gold Prices Surge

This Is Why Gold Is Surging $20 Friday

Here is a portion of what Peter Boockvar wrote as the world awaits…
Gold Is Best Standard Value

Gold Investing: Gold Is the Best Standard of Value

The current debt-based fiat monetary system creates an illusion…
Can I Buy Gold for My Solo 401(k)

Gold 401(k) Rollover Guide

A 401(k) plan provides a simple vehicle for company employees…
Debt and Gold Prices

The Link Between Rising Government Debt and the Price of Gold

While the federal debt continues climbing upward, there is no…
Gold Rebounds After Dollar Slips

Gold Rebounds From Biggest Weekly Loss This Year as Dollar Slips

Gold prices rose on Monday as a softer U.S. dollar helped the…
Gold Heading to $1,400

Three Charts That Show Gold is Going to $1,400

We just posted a story of how gold is about to go ballistic. Well,…
Gold About to Go Ballistic?

Is Gold About to Go Ballistic?

There are many triggers in place that spells out a very promising…
Why Buy Gold?

Why It's a Good Time to Buy Gold

Longstanding question: Why do you buy gold? There are a multitude…