Some custodian banks may charge additional fees for services such as account setup, transaction fees, and storage fees. Gold IRAs have higher maintenance fees than other types of IRAs because of the additional costs associated with investing in gold. In addition to brokerage fees and account setup fees, the investor must pay additional costs to store and insure the precious metal. They can also be a premium on sales costs and an additional fee for closing an account.
You can choose a mix of gold and silver, and some gold IRA companies also allow you to add platinum and palladium to your IRA. Gold IRA rollovers are also available for federal employees starting with a 401 (k), 403 (b), 457 (b), or Thrift Savings Plan, as long as you no longer work for the company that provided the account. If you’ve decided that a Gold IRA is right for you, you can contact your retirement plan administrator or have the Gold IRA firm do it for you. Many gold IRA companies use scare tactics or exploit investors’ fears of a (highly unlikely) collapse of the entire financial system and a full-scale collapse of U.
Augusta Precious Metals. Augusta Precious Metals is a trusted Gold IRA custodian that provides complete spending information when you set up a Gold IRA account with them. The leading Gold IRA companies offer unbiased educational resources, investor information, responsive customer support, and easy account setup. The gold IRA rollover is a fundamental concept in the alternative investment process, which transfers value from a traditional retirement account to a gold IRA. You can invest in gold ETFs that own physical gold, such as SPDR Gold Trust (GLD) or iShares Gold Trust (IAU).
Because the gold in a gold IRA must be stored in an IRS-approved deposit, you can’t store it in a safe, a home safe, or under your mattress. If you have any questions about storage, contact your Gold IRA representative. The decision is ultimately up to you. The platform offers a wide selection of gold bars and premium gold alternatives, including outstanding assets such as American Eagles, Canadian Maple Leafs, American Eagle Proofs, Gold Canadian Eagles, American Buffalo, and Australian Striped Marlin. These fees, also known as spread or seller fees, are charged in addition to the purchase price of gold and silver.
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. While many people who own physical gold do so because they believe it is safer, you must carefully research the company you want to buy from to avoid fraud. Since you won’t own the money, the rollover is a direct transfer from your existing IRA to your Gold IRA account, which can take up to two weeks.
