Learn How to Buy & Hold Physical Gold Investments in Your IRA

Gold has one leading role on this planet, and that role is that it is the only actual store of wealth. Are you interested in owning physical gold or other precious metal and probably wondering where to start? First and foremost, many gold companies allow people to invest in gold and other precious metals.

Gold has one leading role on this planet, and that role is that it is the only actual store of wealth. Are you interested in owning physical gold or other precious metal and probably wondering where to start? First and foremost, many gold companies allow people to invest in gold and other precious metals. This is both an advantage and a drawback. You are probably wondering what I mean by this. Many gold companies imply that investors can easily find an investor partner. On the dark side, some of these companies are not trustworthy, and you may be scammed. We advise you to research a company before investing in it.

Most people have been asking about owning physical gold in their IRA. This informative guide provides all the necessary information about investing precious physical metals in your IRA. 

Top 4 Reasons Why Holding Physical Gold in Your IRA Is a Great Idea

We all know that gold is one of the best forms of long-term wealth protection. Physical gold cannot be hacked or erased and is not subject to some risks facing paper assets. Physical precious metals like gold and silver have weathered countless financial storms. Purchasing physical gold is the most brilliant way to protect your wealth and even grow it. The following are some of the benefits of owning physical gold.

Growing & Protecting Your Wealth

Gold is continuously gaining popularity because it can grow in value over the years. Other than protecting your wealth from economic recessions and inflation, you can be sure that your wealth will continue to grow with gold.

Diversification of your Portfolio

It is often said that putting all your eggs in one basket is dangerous. This is the same will investing. Putting all your investments in one basket is risky. Portfolio diversification is probably the most significant benefit of owning physical gold. Including gold in your lineup of investment portfolios balances the volatility and returns. 

We all know that gold prices perform well in times of economic uncertainty. Including gold in your investment portfolio protects you against wealth wipeout in times of financial situations such as stock market crashes and severe economic depression. Owning physical gold is the most incredible way to diversify your investment, which reduces the overall portfolio risk.

Protection from Economic Recessions & Downturns

Investing in physical gold offers protection from economic downturns and recessions. This is because the value of gold is not affected by extreme financial situations.

Hedging Against High Inflation

As investors, we always fear inflation as it will always affect the value of our investment once it happens. As time passes, the dollar's value declines, and so does its purchasing power. Investing in physical gold provides a hedge against inflation, and you do not have to worry about how inflation will impact your investment.

Yes! You can buy physical gold with your IRA.

Most companies offer investors a secure and convenient way to invest in physical precious metals or gold and silver IRA. It is a straightforward process that the company's professionals will guide. You can open your gold IRA account with the following simple steps.

Step 1: Review Available IRA Account Options & Ensure Your Eligibility

Even though there are various IRAs, you may not be eligible for them. While self-employed people and small business owners can choose SEP or SIMPLE IRAs, individual taxpayers can choose either a traditional or Roth IRA. Ensure you are eligible for the IRA option that you prefer.

Step 2: Open A Precious Metals IRA and Fund Your New Account

After choosing a suitable IRA account, fill out the necessary application forms to open your account. You will then select a custodian of your precious metals. You can then fund your account after opening it. There are three funding options cash, rollover, and transfer.

Step 3: Purchase Gold and Other Precious Metals that Suit Your Investment Goals

The last step is buying your precious metals once your account is fully funded, and your money has cleared. Remember that IRS only allows metals of a specific type and purity to be stored in IRAs when purchasing the precious metals.

How Gold Must Be Held in an IRA: IRS Rules

There are two IRS rules that you must follow to invest gold in a self-directed IRA. First, you can only invest in IRS-approved gold, and the bullion must be highly refined. This means;

  • A nationally accredited company must produce the bullion
  • Bars must be manufactured to the exact weight
  • 99.5% metal purity
  • Must include a certificate of authenticity
  • Must be in complete original packaging
  • The coins must be damage-free and uncirculated

IRS also holds that you cannot have the gold in your possession. Even though you own the precious metals, they must be stored in an IRS-approved depository.

How to Take Physical Possession of Gold in Your IRA

You can take possession of your gold when you withdraw from the gold IRA. However, you can only exit from the gold IRA at least 59.5 years of age without penalty. Otherwise, there is a minimum of 10% penalty for withdrawal before attaining this age. After withdrawing from the gold IRA, you can liquidate the assets or take possession of your physical gold.

Taking Distributions from Your Gold IRA

You can take distributions from your gold IRA, which is a straightforward process. You have two options, taking the gold or the cash. If you want to receive physical gold as a distribution from your gold IRA, you must complete the following three steps;

  • Contact the portfolio manager requesting a distribution
  • Fill out the distribution request form as required by your custodian
  • Approve the document with your signature and submit it to the custodian

If you choose to take the distribution in cash, your company will offer you a fair buy-back price based on their written policy.

It also involves three steps

  • Confirmation of your request to liquidate your gold into cash
  • Acceptance of the buy-back offer
  • Completing the form required by the custodian

The Buy-Back Guarantee: How You Can Turn Your Gold IRA into Cash

Are you worried about opening a gold IRA and then changing your mind? Our top companies have a buy-back guarantee in such cases. The company, through the buy-back program, purchases your precious metals. If you choose to sell part or whole of your holding and have trouble finding a buyer, the company will buy from you.

How to Sell Your Gold After You've Taken possession

There are several options for liquidating your gold outside IRA. Even though many dealers can help you, we advise you to consider some of our industry-leading dealers as they offer a fair buy-back. Once you accept our offer will assist you in shipping your gold to our depository and transfer funds to you, but this will be locked until the arrival of the gold.


Final Thoughts

Gold remains one of the most innovative ways to invest and grow your wealth while at the same time protecting it. With the right company, investing in precious physical metals is very easy. 

The top companies that we recommend are:

  • Goldco
  • Birch Gold group
  • Augusta Precious Metals
  • Regal Assets
  • Noble Gold

We hope this article has been informative and helpful.

About the Author

Since 2008, Savary Gold has been one of the world's leading mining exploration & investment resources for gold and precious metals. SavaryGold.com's mission is to provide proven insider knowledge resources about retirement investing to its readers to make informed investment decisions and better manage risk.

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