What You Should Know About Gold IRA Companies

  • January 2014
  • Posted By JohnnyG

Many people, who have an IRA, are interested in including gold and silver into their retirement plans. In recent years, more people have been exploring gold IRA companies as a way to help boost their retirement funds and to ensure that they have a better security net in place. While this takes looking over more than one IRA comparison chart to determine the best possible approach, you will find that in most cases, precious metals will prove to be a sound investment choice for you.

This begins by talking with the gold IRA companies and then discussing your options. The company will need paperwork from you and funds up front, with a determination on how you would like to invest your funds. This will be a breakdown of the precious metal types that will be included in your IRA. The account executive may offer you an IRA comparison chart on the outlook of silver and gold to help you better decide on which one of these choices will be right for you.

At this time, they will use your distributions to convert the funds into gold and silver. These can be held offsite for you or in some cases, you can be provided with the gold coins themselves and you can store them in a safe and secure area. That will make them a good choice.

When speaking with the Gold IRA companies, you do need to be careful about what you are purchasing for your account. The United States Government will only allow a select number of choices to be held in your IRA account. This is usually gold or silver American Eagles that are special versions. These coins are manually placed into a machine and then struck with a particular coin image on a mirror background. They are then reviewed and assigned a proof before they are placed in their protective casing. They are then often placed in a stain or velvet lined case and a United States issued Mint Certificate of authenticity and proof is typically included with them.


For your IRA, these proof coins will meet the needs of the United States government and ensure that you have little problem having the investment secured. Keep in mind that many times, these mints are limited and they will vary in price and availability, based on a number of factors. Since people beyond those looking to invest them will also take them out they can vary in price. This does mean that they often have a premium value over what the bullion itself may be worth if you melted it and converted it into a bar of gold. It is important that you keep that in mind should you choose to resell these coins later on, as you are going to get more for them when pulled out of your IRA in their collectable form, rather than for the value of the gold itself.

Knowing all of this, you do need to understand that while the precious metals are an asset without penalty and include platinum and palladium in addition to the silver and gold, .you do need to have an approve depository to hold the precious metals for you. Usually, the deal broker you are working with can step in and handle this for you and ensure that your entire investment meets the regulations set down by the government, to avoid any penalties.

This does mean you will also find that there are some benefits in the long run when you choose to work with gold IRA companies. They include:

  • Having precious metals available which are a tangible asset.
  • The ability to buy, sell and exchange these metals in your account without penalty. This also means you have a strategic control over all the precious metal types maintained in your account.
  • Ensures a truly diverse portfolio.
  • The IRA is the owner of the precious metals, not the IRA holder. That means all the costs are paid through the IRA, however all gains are the associated with the IRA.
  • Since the IRA is the holder of the assets, all legal documents are handled in the name of the IRA.
  • Only bullion products through the US Mint or physical precious metals may be stored. An individual cannot use collectable coins as an IRA investment. All precious metals must also meet the fineness standards as required by the IRS.
  • You cannot maintain the physical metals in your possession when they are secured in the IRA.

To give you a better idea of what Gold IRA companies can allow you to place in your IRA account, the following information is provided. Keep in mind that the value and rates of each can vary on an IRA comparison chart. You should note that the Gold American Eagles, though they do not meet the fineness requirement that is in place can actually be used for your IRA account. Gold must meet a .995%, silver a .999%, Platinum a .9995% and Palladium .9995%.

It is important that you have taken the time to prepare for your retirement, by proactively investing funds into a retirement account. You don’t want to be a person who ends up having to work for a lifetime, because they have failed to properly invest their funds. With the right IRA account on hand, you will be able to build a nest egg that is going to give you some extra support when you do collect social security and other retirement account funds.

With the use of precious metals, you can be certain that these accounts will hold and retain value, while ensuring that there is a good amount of interest. Thus, ensuring that after all is said and done, you have a retirement account balance you can count on, rather than placing your retirement funds in a 401k which could end up losing you money over time.

As you can see, working with Gold IRA companies will be a wise investment for your retirement accounts. Make sure you take the first steps and take advantage of the precious metal investment opportunities you have today.


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