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What is a Gold IRA?

A Gold IRA is an investment vehicle that helps people save for retirement. It combines the tax advantages of an IRA with the wealth protection offered by physical precious metals.  They can help diversify your portfolio and hedge against inflation, market volatility and recession. 

What sets the Gold IRA Apart?

A conventional IRA limits investment options to approved securities like stocks, bonds and ETFs. You can gain exposure to precious metals with ‘paper gold’ like gold ETFs but they do not offer the same benefits as owning physical gold. 

A Gold IRA is a specialized self-directed individual retirement account that allows you to own physical precious metals. Self-directed IRAs are designed to let you invest in things that are not typically allowed in conventional IRAs, like physical precious metals, real estate or cryptocurrencies. 

Rules of a GOLD IRA:

The IRS imposes rules on a Gold IRA that are comparable the rules for a traditional IRA:

  • Self-directed Gold IRAs have the same annual contribution limit as a standard IRA. 
  • Distributions can be taken without penalties after you turn 59 1/2. 
  • Withdrawals before then are subject to an 10% tax. 

Gold IRA specific rules:

  • Custodians: You need a custodian to manage your Gold IRA. Custodians help take care of the necessary paperwork and tax reporting required by the IRS.
  • Storage: You can’t store your gold in your home if it is for IRA. IRS rules require you to store your gold in an approved facility. The IRS views taking your gold out of storage as a withdrawal, which might be subjected to taxes and early withdrawal penalties. Your custodian will also manage the IRS storage requirements. 
  • Contents of a Gold IRA: The IRS has rules regarding the type of precious metals held in a Gold IRA. Investors are permitted to own gold, silver, platinum or palladium. When it comes to gold, bars must be at least 99.5% purity. Coins must be approved by the IRS. Some approved coins include the American Gold Eagle, the Canadian Maple Leaf, and the Australian Gold Kangaroo. Gold collectibles cannot put into a Gold IRA. Always make sure you are buying approved gold items. 

J.P. Morgan


“Gold is money. Everything else is just credit.”