A Gold IRA allows you to hold physical gold, silver, platinum, and palladium in a tax-advantaged retirement account. It's one of the only ways to own physical precious metals with the tax benefits of an IRA. Here's everything you need to know.
Disclaimer: This is educational content, not financial advice. Consult a qualified financial advisor and tax professional before making retirement decisions.
What is a Gold IRA?
A Gold IRA is a self-directed Individual Retirement Account that holds IRS-approved physical precious metals instead of (or in addition to) paper assets like stocks and bonds.
Key differences from regular IRAs:
- Self-directed: You choose the investments, not a fund manager
- Physical metals: Real gold and silver stored in an approved depository
- Custodian required: A specialized IRA custodian manages the account
- Storage required: Metals must be stored at an IRS-approved facility
Gold IRA Types
Traditional Gold IRA
Contributions may be tax-deductible. Growth is tax-deferred. Taxes paid on withdrawal.
Best for: Those expecting lower tax rate in retirement
Roth Gold IRA
Contributions are after-tax. Growth and qualified withdrawals are tax-free.
Best for: Those expecting higher tax rate in retirement
SEP Gold IRA
For self-employed and small business owners. Higher contribution limits.
2026 limit: $69,000 or 25% of compensation
SIMPLE Gold IRA
For small businesses with 100 or fewer employees.
Employee contributions plus employer match
IRS-Approved Precious Metals
The IRS has strict requirements for metals held in an IRA. Not all gold and silver qualifies.
Approved Gold Products
- American Gold Eagle coins (any size)
- American Gold Buffalo coins
- Canadian Gold Maple Leaf coins
- Austrian Gold Philharmonic coins
- Australian Gold Kangaroo coins
- Gold bars/rounds: minimum 99.5% purity (.995 fine)
Approved Silver Products
- American Silver Eagle coins
- Canadian Silver Maple Leaf coins
- Austrian Silver Philharmonic coins
- Australian Silver Kookaburra/Kangaroo coins
- Silver bars/rounds: minimum 99.9% purity (.999 fine)
NOT Allowed in IRAs
- • Collectible coins (pre-1933 gold, numismatic coins)
- • South African Krugerrands (not allowed, despite being popular)
- • Jewelry or decorative items
- • Gold below 99.5% purity (except American Eagles)
- • Silver below 99.9% purity
How to Set Up a Gold IRA
Choose a Custodian
Select an IRS-approved custodian specializing in precious metals IRAs. They'll handle paperwork, compliance, and coordinate with the depository.
Open and Fund Your Account
Complete the application and fund via direct contribution, rollover from existing IRA, or transfer from 401(k).
Select a Depository
Choose an IRS-approved storage facility. Popular options: Delaware Depository, Brink's, IDS of Delaware.
Purchase Metals
Work with an approved dealer to buy IRS-compliant gold and silver. The dealer ships directly to the depository.
Gold IRA Fees
Gold IRAs have more fees than standard IRAs due to the custodian, storage, and insurance requirements.
| Fee Type | Typical Range |
|---|---|
| Account setup | $50-150 (one-time) |
| Annual custodian fee | $75-300/year |
| Storage fee | $100-300/year or 0.5% of value |
| Insurance | Usually included in storage |
| Wire transfer fee | $25-50 per transfer |
| Dealer markup | Varies (compare dealers!) |
Fee tip: Fees vary significantly between providers. Some offer "free" setup but charge higher annual fees. Calculate total 5-year costs when comparing.
Rollovers and Transfers
401(k) to Gold IRA Rollover
You can roll over funds from a 401(k) to a Gold IRA without tax penalties if done correctly. This is usually only possible after leaving the employer or reaching age 59½.
IRA to Gold IRA Transfer
Transferring from an existing IRA (Traditional or Roth) to a Gold IRA is straightforward. The funds move directly between custodians (trustee-to-trustee transfer), so there's no tax impact.
60-Day Rollover Rule
If you take a distribution and re-deposit into a Gold IRA, you have 60 days to complete the rollover. Miss the deadline and it's treated as a taxable distribution (plus 10% penalty if under 59½). Always do a direct trustee-to-trustee transfer to avoid this risk.
Pros and Cons of Gold IRAs
Pros
- • Diversification from paper assets
- • Hedge against inflation and currency debasement
- • Tax-deferred or tax-free growth
- • Physical ownership (allocated storage)
- • Protection during financial crises
- • No daily price fluctuation stress
Cons
- • Higher fees than standard IRAs
- • No dividends or interest income
- • Can't store at home (IRS rule)
- • Limited to IRS-approved products
- • Less liquid than ETFs or stocks
- • Dealer premiums reduce returns
Is a Gold IRA Right for You?
Gold IRAs make sense for investors who:
- Want portfolio diversification: Adding 5-15% precious metals can reduce overall portfolio risk
- Are concerned about inflation: Gold has historically preserved purchasing power
- Have a long time horizon: Gold is a long-term holding, not for short-term trading
- Prefer physical ownership: Want actual metal, not paper claims
- Have significant retirement savings: Fees are more palatable on larger accounts
Gold IRAs may NOT be ideal if you:
- Have a small retirement account (fees eat into returns)
- Want income-generating investments
- Need liquidity and quick access to funds
- Are comfortable with gold ETFs for exposure
Compare Gold Products
Find IRA-eligible gold and silver at the lowest premiums from trusted dealers.