In a regular IRA, you can’t own physical gold, although you can invest in a wide variety of assets that are invested in gold, such as gold stocks or gold ETFs. When you open a self-directed IRA, you can invest in alternative assets such as real estate, physical precious metals, and cryptocurrencies. The Tax Payer Relief Act of 1997 made it possible to hold precious metals in a standalone IRA. Headquarters 100 Concourse Parkway Suite 170 Birmingham
, AL 35244 (20 985-0860).
You can invest in gold coins, but the coins must remain in the custody of the IRA trustee or custodian. With a self-directed gold IRA, you can invest in gold or other precious metals in addition to traditional Wall Street assets. Many investors choose gold to diversify their portfolio, either by investing in a gold IRA or buying the metal outright. Gold bars and round gold and silver bars are also allowed in an IRA if they have a fineness
of 99.9%.
It’s time to give your retirement savings a unique opportunity to grow with Madison’s Self-Directed Gold IRA. One option is to set up a self-directed gold IRA, which allows you to buy physical gold and silver with pension funds. Some IRA companies guarantee to buy back the gold from you at current wholesale prices, but you could still lose money if you close the account, which is not usually the case when opening and closing regular IRAs. Now that you know what types of metals you can invest in, you may be wondering how you can buy gold in a self-directed IRA
.
While the price of gold rose to new highs over the summer, you’ve probably seen a number of ads recommending investing in gold via an IRA. Self-directed IRAs are just IRAs offered by custodian banks and allow account holders to have more control over investments in the IRA. Madison Trust works with FideLiTrade and Delaware Depository for all self-directed IRA gold and silver investments. Gold IRAs have higher maintenance fees than other types of IRAs, which is due to the additional costs associated with investing in
gold.
Just like an IRA for investing in stocks, bonds, and mutual funds, you can open a Self-Directed Gold IRA as a traditional IRA or Roth IRA, and which one you choose affects how it’s taxed. Record gold sales combined with the appearance of many more companies processing and simplifying transactions have made investing in a gold IRA a one-stop shop. As soon as money is available in the new IRA account, an account representative reviews the current precious metal options
that a consumer can buy.
