Frequently Asked Questions

What is a Gold IRA?

A Gold IRA is a self directed IRA that allows you to hold physical precious metals like gold, silver, platinum, and palladium bullion inside of your retirement account.

Why should I include precious metals in my IRA?

Precious metals has served as a safe haven asset for investors that want to mitigate/hedge the impact of inflation and holding them in an IRA allows investors to diversify outside of stocks/bonds in a tax deferred method.

What types of metals can be held in an IRA?

Specific IRS-approved metals that meet purity standards are allowed. Gold (99.5%), silver (99.9%), platinum and palladium are approved.

How do I open a Gold IRA?

Using one of our qualified self-directed IRA custodians we will assist you in opening a Gold IRA, you fund your account, and select the metals you want to be held in the IRA.

Can I transfer/rollover funds from an existing IRA?

Yes you can perform a tax deferred, penalty free rollover from an existing IRA/401(k) as long as the account qualifies.

What are the costs of investing in a Gold IRA?

The costs include setup fees, annual storage fees, and markups on metals that you may purchase.

Is there a minimum investment amount?

It depends on the custodian you are working with, Citadel Gold requires a $25,000 minimum purchase order to open a precious metals IRA.

Are there tax benefits to holding a Gold IRA?

Yes the same benefits that you currently receive from your IRA apply to your new Gold IRA, meaning all gains remain tax deferred, additionally through and in-kind distribution method you may receive your metals instead of cash as your distribution.

Where are the metals stored?

The IRS mandates that all precious metals must be stored in an approved depository rather than your home until the time of distribution or withdrawal.

Can I take physical possession of the metals?

No, not while they are part of the IRA. However, you can take an in-kind distribution after retirement, but it will be subject to taxes (and penalties if before age 59½).

How secure are the depositories?

Approved depositories must meet the most stringent security and insurance requirements in order to hold your metals. They are extremely secure.

What happens if I don’t follow IRS regulations?

Non-compliance can result in penalties, taxes, or even disqualification of your IRA.

What transactions are prohibited in a Gold IRA?

Storing the metals at home is strictly prohibited by the IRS, or dealing with disqualified persons such as family members is also prohibited.

Can I sell the metals in my IRA?

Yes, you can liquidate your metals and use the cash to make other purchases within your IRA, or you may take the cash as a withdraw or distribution.

What happens when I want to retire or liquidate the IRA?

You can take a distribution as cash (after selling the metals) or receive the physical metals. Taxes or penalties may apply based on your age and account type.