Gold IRA companies are essentially brokers that sell IRS-approved coins and bars of gold and other precious metals so you can invest a gold IRA. Many of these companies also sell non-IRA precious metal coins and bars to collectors. Most gold IRA companies don’t charge a commission for buying or selling gold. However, many add a premium to the spot price, which is essentially their job to facilitate the transaction.
Some companies are transparent about their markup and others aren’t. Companies that buy directly can eliminate the middleman so they can reduce their markup. A gold IRA works like a traditional IRA, which allows investors to use their money before paying taxes to invest in gold or other precious metals. No other Gold IRA company goes to such lengths to present investment information in an organized and objective way to earn the full trust of its customers.
With a gold IRA, you can invest in precious metals such as gold and silver while taking advantage of the tax benefits of a traditional IRA. Because of Noble Gold’s extensive network of partners and suppliers, customers receive competitive prices for gold purchases. However, many Gold IRA companies have their own minimum investment requirements that you must meet in order to work with them. Even if you open a Gold IRA, it’s important to note that you can’t fund your account directly with gold bars or coins that you own.
The IRS has set guidelines for metal fineness standards to determine whether gold or silver in the form of gold bars or coins is acceptable for a gold IRA. Augusta Precious Metals is a leading IRA gold company founded by Joe Montana, a Hall of Fame quarterback, and his team of financial advisors. For gold IRAs, government regulations specify what type of gold can be kept in the account and where it should be stored. Younger investors who have less money to invest in gold are better off with a traditional IRA if they invest in gold equivalents, such as gold ETFs or gold mining stocks, until they’ve accumulated enough to meet the higher minimum requirements of gold IRAs.
Thankfully, Gold IRA companies make it easy to meet these requirements and add precious metals to your retirement plan. The best way to use a Gold IRA is to use it as an accumulation tool as part of a more comprehensive, diversified investment strategy that can be achieved even without a Gold IRA. While you can gain exposure to gold in a normal retirement account by owning stocks or funds, you can’t hold the physical asset in an IRA or 401 (k). A gold IRA often has higher fees than a traditional IRA or Roth IRA, which invests exclusively in stocks, bonds, and mutual funds.
Working with a reputable IRA Gold company can ensure that the precious metals you purchase meet IRS standards.
