Do I Have Enough Money to Start a Precious Metal IRA?

By Jaclyn Uloth

Getting Started with a Precious Metal IRA

Do you have retirement on the mind? If so, you have likely come across a sea of options, with one of them being a Precious Metal IRA. Starting one of these IRAs is a great way to save for retirement for many reasons, and gold should be a staple in any investor’s portfolio. If you are interested in starting a precious metal IRA, there are some things you need to know. Keep reading to learn more about Precious Metals IRA and what is required to start one!

What is a Precious Metal IRA?

The term gold IRA refers to a specialized individual retirement account (IRA) that allows investors to hold gold as a qualified retirement investment, according to Investopedia. Investors with gold IRAs can hold physical metals such as bullion or coins, as well as precious metals-related securities within the portfolio.

A gold IRA must be held separately from a traditional retirement account, although rules involving things like contribution limits and distributions remain the same. Investors can open gold IRAs through a broker-dealer or other custodian.

Key takeaways regarding precious metal IRAs include:

A gold IRA is a retirement account that allows its investors to hold gold coins or bullions, or other precious metals as investments.
You can set up a gold IRA with pretax or after-tax dollars through a special custodian or broker.
The IRS permits self-directed IRA holders to purchase gold, silver, platinum, or palladium bars, coins, or other approved physical forms.
These accounts generally carry higher fees than ordinary IRAs since they require purchasing and storing the actual metal.
Annual contributions are capped by the IRS.

The IRS has specific standards your gold, silver, platinum, or palladium need to meet in order for it to qualify as part of your precious metal IRA:

Gold must be 99.5% pure
Silver must be 99.9% pure
Platinum must be 99.95% pure
Palladium must be 99.95% pure

How Do You Start a Precious Metal IRA?

Precious metal IRAs involve physical gold (or whichever metal you choose); however, you will likely never see this gold in the flesh. A custodian handles the purchasing and storing of this gold to ensure that it meets all of the IRS’s guidelines. As such, you need to find a custodian who deals specifically with precious metal IRAs to ensure you’re making the right moves with your money.

Priority Gold is proud to partner with Preferred Trust Company to provide custodial and administrative services for your IRA-owned precious metals investments. Founded in 2007 and located in Las Vegas, NV, Preferred Trust Company is a licensed Retail Trust Company specializing in self-directed IRAs. As a financial institution, they abide by IRS rules and regulations and the guidelines set forth by the State of Nevada Financial Institutions Division.

When you open a brand new precious metal IRA, you may be paying a minimum, depending on the custodian and institution you choose. There are also storage fees, maintenance fees, and set-up fees.

Can I Roll Over My Existing IRA?

Yes! If you have an existing IRA that you would like to roll over to a precious metal IRA, we can help you with that, and the process is very simple. Priority Gold offers a simple, four-step process that makes it easy to open a precious metals IRA. Our IRA specialists will answer all of your questions, work with your current custodians to ensure a seamless transition, provide you with a free metal evaluation, and continually help you to review your portfolio.

Precious Metal IRA with Priority Gold

Global uncertainty and recession made Precious Metals Investment the best option. Diversifying your portfolio with gold and silver can shield your retirement savings from loss during an economic downturn. Transfer your traditional IRA, 401(K), 403(B), TSP OR 457 Plan into a self-directed Precious Metals IRA Account backed by physical gold and silver.

If you are ready to invest in gold to protect your savings and secure your future, we can help. Priority Gold is one of the most trusted precious metals dealers in the United States, with a BBB A+ Rating, AAA Rating with Business Consumer Alliance, and 5 Stars Rating with TrustLink.

Our team is committed to helping to streamline their precious metals purchases at a fair price, selecting the right precious metals portfolios, and meeting their important financial objectives. We offer Free Storage for qualifying Gold & Silver IRA accounts, a fast & easy gold buying process, and smooth IRA Transfer. Priority Gold guarantees the highest customer service standards, which come with honesty, professional conduct, and an Ethical Code of Business.

For more information, visit us at prioritygold.com