The purchased precious metals must be stored in an IRS-approved depot. In addition to transparency, Augusta Precious Metals offers a money-back guarantee in case you’re dissatisfied with their work. Price protection policies are also in place for IRA owners and investors who own gold for the first time to get the hang of buying gold without exposing them to major risks. The company allows customers to choose between Equity Trust Company and STRATA Trust Company as account custodian and Delaware Depository or Brink’s Global Services for their precious metals storage.
Gold IRA companies differ in that some allow you to choose between multiple custodian firms and depositories, while others require that you hire a custodian and custodian of your choice. 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. Advantage Gold has made a name for itself as the best gold IRA company for first-time buyers with its low minimum investment requirements, convenient customer support, and comprehensive education platform. Some people prefer the idea of holding physical gold rather than getting exposure to precious metals by buying stocks in gold mining companies or gold-based ETFs.
However, it’s important to remember that financial advisors generally recommend investing 5% or less of a portfolio in precious metals, as gold doesn’t pay dividends and gold investors have no guarantee of making money from their investment, even with a long time horizon. And if you want to sell some of your assets stored in them, every IRA company has a process that allows you to do just that. The precious metals in a gold IRA are usually coins and bars, some of which have higher premiums than others. The best way to use a Gold IRA is to use it as an accumulation tool as part of a more comprehensive, diversified investment strategy that can be achieved even without a Gold IRA.
However, if you’re working with a reliable and customer-focused Gold IRA company, it’s likely that that company has favorable buyback policies for coins or gold bars, although their transaction costs for gold bars may be higher. If you’ve decided that a Gold IRA is right for you, you can contact your retirement plan administrator to initiate the rollover, or have the Gold IRA company carry out a direct rollover between the two companies. A gold IRA is characterized by the fact that the account holder owns the actual precious metals, as opposed to stocks or fund shares in mining companies. Like many excellent IRA precious metals companies, Birch Gold ensures full transparency about their fees.
With your future financial security at stake, the reputation and integrity of the company you entrust your gold purchase to is the most important consideration. Gold IRA companies are essentially brokers that sell IRS-approved coins and bars of gold and other precious metals so you can invest a gold IRA.