A key selling point of gold IRAs is that you own the physical gold yourself. If that doesn’t matter to you, there are other ways to add exposure to precious metals to a retirement portfolio, such as buying stocks in gold mining companies. Clients who buy gold and silver outside of an IRA will continue to receive advisory and administrative services from the firm. One important rule for knowing how physical gold can be stored in an IRA is that your precious metals MUST be stored at an approved depository agency such as the Delaware Depository Service Company or Brink’s Global Services, not at your home or in a safe deposit box.
Gold and silver purchased through a precious metal IRA must be stored in an approved bank or custodian. For a Gold IRA, you’ll need a broker to buy the gold and a custodian bank to create and manage the account. Augusta promotes itself as “your leading Gold IRA Company” and promises to help its investors make smart financial decisions to help them prepare for retirement. The members and employees of this team have years of experience dealing with gold IRAs and valuable insights into new issues and trends around the precious metals market that can help customers make the right decisions at the right time.
A Gold IRA is a specialized, self-directed individual retirement account designed to store precious metals. There are plenty of rules and regulatory hurdles you’ll need to overcome when thinking about a Gold IRA. A high-quality IRA Gold company only works with carefully vetted, reputable third-party storage companies or secured repositories. Once you’re 72 years old, you’ll be required to accept the required minimum payouts (RMDs) from a traditional Gold IRA (but not from a Roth IRA).
In fact, Augusta Precious Metals, one of the best Gold IRA companies, specializes in helping people make exactly that choice. Many of the leading Gold IRA companies have similar fee structures but may vary by a few hundred dollars a year. In some cases, your IRS gold company sells IRS-approved metals so you can buy your coins and precious metals directly from them. Administrators charge a commission to make it easier to buy or sell precious metals in a customer’s Gold IRA.