IRAs are subject to federal laws and restrictions that govern their investments in precious metals. The only precious metals that can be bought in one. We offer trading in gold, silver, platinum and palladium bars, and coins. When trading precious metals, Fidelity only acts as an intermediary. We do not hold stocks of precious metals, nor does Fidelity buy or sell by taking positions on the market.
We send your orders directly to the precious metal investment companies we use, Fidelitrade or ScotiamocattatTM, which buy and sell for us on the precious metals market. Many Gold IRA companies work with a custodian, and either the custodian or the Gold IRA company may select a custodian bank. The Gold IRA you open with Fidelity is going to be different than any other Gold IRA you’ve come across, and that’s not necessarily a good thing. There is a lot of confusion when it comes to Fidelity Gold IRAs, which we now believe are primarily due to the structure of the Gold IRA.
In general, the custodian takes care of all the paperwork you don’t want to worry about, while the Gold IRA firm helps you with things like shopping and training. You must store the gold in a gold IRA in an IRS-approved depot. You can’t store it in a safe, a house safe, or under your mattress. Augusta’s two major drawbacks are its limited selection of metals and the high minimum investment requirements for setting up a gold IRA. While most IRA investors invest in more traditional assets such as stocks, bonds, and funds, the tax code allows investments in precious metals such as gold and silver through specialized IRA accounts.
The gold must be purchased and transferred to the custodian bank in such a way that the custodian bank can take care of it. Therefore, investors must work with a reliable and reputable Gold IRA company to facilitate the process. The fact that it takes a long time to find out whether Fidelity even offers a Gold IRA should tell you about their priorities. Patriot Gold Group has a long track record of helping investors secure their financial future through gold IRAs, and has received high marks from consumer groups along the way. This custodian bank, which usually works with a Gold IRA company, works with the client as needed.
