Published On: Thu, Mar 24th, 2022

 

Best Gold IRA Companies According to Cayman Financial

When protecting your retirement account is of the utmost importance against inflation and volatile markets, opening a gold IRA is typically one of the top choices available to investors. Many refer to this type of account as a precious metals IRA, but it’s actually a self-directed IRA that gives investors the opportunity to buy precious metals in physical form including palladium, silver, platinum, and gold.

Recently, Weston-based Cayman Financial released their top recommended gold IRA companies for 2022. 

Differing from a traditional IRA, which the majority of investors can easily set up without any difficulty. The gold IRA account setup process is definitely on the more complicated side and there are a number of moving parts during set up. That’s why smart investors choose the top gold IRA companies to work with because they can facilitate the setup process on their behalf.

Whether you already have an IRA account or own stocks and bonds in your 401(k) account, it’s possible for the top gold companies to convert these assets into precious metals including coins, bullion, and rounds through the gold IRA rollover process.

Nevertheless, some gold IRA companies are a lot better than others. The top companies have great reputations, act with transparency, and more. Other organizations hide their fees and gouge customers, which can hurt your bottom line over time.

Throughout this guide, we’ve taken time to review the top gold IRA companies within this industry. This will help you choose the best partner to help you with the gold IRA rollover process. We also shared a number of different factors about our favorite companies including reviews, their selection of precious metals, how much they charge annually, and whether or not they have a great reputation.

Are you ready to finally begin protecting your retirement future? The best way to do it is through a precious metals IRA. We’ve written about the top gold IRA companies in 2022 below to help you choose wisely.

The Top 5 Precious Metals IRA Companies in 2022

  • Goldco – Best overall company
  • Birch Gold Group – Best precious metals options
  • Augusta Precious Metals – Best pricing transparency
  • Noble Gold – Best precious metals repurchasing program
  • Regal Assets – Best provider of customer service

1. Goldco – Best Overall Company

  • More than 1000 5-star ratings from customers
  • BBB rating: A+
  • Precious metals IRA rollover and setup experts
  • Invest in silver, gold, and other precious metals

This private company works diligently to protect customer funds and keep them safeguarded for retirement by moving their assets from 401(k) accounts, traditional IRA accounts, 403B accounts, and others and put them in self-directed IRA accounts to purchase silver and gold in physical form. The staff at this company is made up of precious metals IRA experts who specialize in helping customers complete the rollover process in a step-by-step manner, which simplifies investing in physical precious metals for retirement.

Additionally, Goldco not only provides asset and wealth protection, it also helps investors and collectors purchase bullion in the form of silver and gold coins, rounds, and bars. They even have a solid buyback plan in place for their customers.

The company works with their customers to ensure the gold IRA setup process goes as smooth as humanly possible.

For starters, investors have to determine how they’d like to fund their account. They can fund with pretax dollars like a traditional IRA, or they can fund using post-tax dollars which is akin to a Roth IRA. Customers tend to perform a gold IRA rollover from their existing IRA to be funded with pretax dollars. But everybody has their own needs, so a rollover might not be suitable for your plans. They recommend talking to your accountant with tax liability questions before setting up this account.

Your gold IRA account will become a self-directed IRA, so you’ll have to pick a custodian to facilitate the account and help with storage. The staff at Goldco will assist you and use their experience to help you pick the best custodian based on your needs.

After you’ve chosen your custodian and set up the gold IRA account, funding is the next step in the process. The professionals at Goldco will make sure all IRS rules and regulations are met during the rollover process.

Once the funding is in place, you can begin choosing precious metals products as your investments. The company will walk you through the selection process and help you make IRA approved purchases. They even have excellent relationships with some mints, so certain bars and coins were specifically produced for them.

Depending on your IRA set up structure, you can diversify even greater, by purchasing coins, bullion, bars and more for your precious metals IRA.

The company even has a precious metals guide that they sent to potential customers free of charge.

Their fees will vary depending on your custodian in the amount you’ve chosen to invest in. To fully understand the fees, it’s best to call them to learn about them directly from Goldco.

The company has an amazing reputation and previous customers have left them tremendous reviews. Their quality of service, reliability, and ethics are always praised. Additionally, the BCA gives them a perfect AAA rating and the Better Business Bureau gives them a perfect A+ rating.

2. Birch Gold Group – Best Precious Metals Options

  • Specializing in precious metals IRAs
  • Wide variety of silver and gold products
  • BBB rating: A+
  • Free precious metals IRA info kit

Birch Gold Group is a solid company with a great reputation operating in this business for more than 20 years. Their team is incredibly talented and they work hard to help their customers achieve portfolio diversification by purchasing silver and gold as well as palladium and platinum.

This financial organization possesses a tremendous amount of expertise that they bring to the table, honing their skills with top financial corporations and tech companies. This company possesses intense knowledge and they are committed to their customers through excellent customer service. The gold IRA creation and funding process is easy when working with Birch Gold Group.

This company has very high standards and focuses on education, empowering customers, transparency, efficiency, ethics, and empathy. The team at Birch Gold is responsive and takes their work seriously. If you have any questions at all, they will provide a detailed answer in a timely manner to help you make informed and efficient decisions.

Their core values include customer care, trust, and knowledge, which makes interactions with this company very easy on the customer.

Birch Gold works side-by-side with their customers to inform them of the risks and benefits of precious metals IRA investing. Additionally, they teach you how to avoid scams and other unscrupulous schemes.

Whether you call them or browse their website, you can operate at your own pace. The company shares info and supports their customers to help you feel empowered while creating portfolio diversity.

At Birch Gold, they treat their customers as more than just a number. They see the human being with unique goals, plans, and individual aspirations.

You’ll quickly connect with a precious metals specialist when working with this company. This person knows the industry inside out and can help you make your financial dreams come true. You’ll work together with the specialist and feel comfortable building your portfolio with this individual.

Every investing journey has its bumps along the way, but Birch Gold makes it easy because you have a trusted specialist to help you feel peace of mind while receiving the best guidance possible.

The ratings and testimonials received by Birch Gold as an additional level of trust because customers really like what they do. They provide portfolio diversity, work diligently to gain your acceptance, and share resources to make you more knowledgeable about precious metals investing. Plus, they’ll never share your contact info with third parties.

The gold IRA rollover and funding process is very easy through Birch Gold. Their custodial and set of fees vary, but they do have promotions on occasion offering free products and zero fees depending on the transfer or investment amount.

They sell a wide variety of coins and bullion including platinum, palladium, silver and gold. And if you’d like to sell your precious metals, they have a buyback program in place.

Birch Gold is a solid company with a great customer service staff and an excellent reputation, which we learned because of their wonderful testimonials. They even have an A+ rating from the Better Business Bureau. Each customer interaction with the customer service staff is pleasant and informative.

3. Augusta Precious Metals – Best of Pricing Transparency

This company looks at saving for retirement is a marathon, not a sprint. They vowed to customers that they will partner with you for a lifetime and guide you through thick and thin.

According to their website, their customer service agents are experts and possess the best skills for investing in precious metals. They are up on the emerging trends and all gold and silver IRA issues as well as alternative investments. The firm takes great pride in possessing excellent customer service, lots of knowledge in this field, and the ability to help clients achieve their retirement goals.

The company has 3 commitments that they live by, which include:

  • Complete transparency when answering questions, on transactions, charges, and bids
  • Total simplicity when working with the Augusta staff
  • Portfolio customization to meet your needs

This company looks at their customers as more than simple transactions. They offer their customers continuing service and client help to achieve a truly diversified precious metals portfolio. Their approach is customer centered and builds trust, peace of mind, and loyalty.

Augusta Precious Metals believes in simplifying the self-directed IRA setup process from start to finish. They’ll set you up with a custodian, help you transfer or rollover your account into the new one, then help you pick the precious metals to invest in for your account.

You always take the reins in these transactions, but you’ll never have to go through anything all alone. Their customer success agent is dedicated and ready to help you while acting as a liaison between you and other team members.

Their staff has an education team ready to share knowledge on pricing and much more. They are ready to assist you and will answer your questions via chat online or on the telephone. Their reps work with you to help with paperwork, transfers, and initiating custodian conversations as well.

Their confirmation team completes each transaction, verifies the order, and finalizes all details and shares them on a recorded voice message.

When they list a price on their website, they do not add an additional commission to the price. So, you can expect to pay exactly what’s quoted when putting in order and with the order desk.

Precious metals values will fluctuate, but once a price is locked in, it will never change. Additionally, Augusta also has a buyback program. The prices of the buyback program vary and regulations permit them from guaranteeing buybacks.

Augusta provides customers with lifetime support. Customer testimonials and excellent ratings with the BCA and prove that this company has an excellent reputation.

4. Noble Gold – Best Precious Metals Repurchasing Program

Noble Gold is a great company for easy and safe investments in gold IRAs. This will help customers build peace of mind and financial security in the future.

The organization will provide diversified investments through gold and silver IRAs and offer to help customers buy precious metals. Their agents gladly help customers by providing different financial solutions without adding additional pressure or hard-sell tactics.

Noble Gold claims to really industry in three areas including friendliness, trustworthiness, and expertise.

This team truly understands the products that they sell as investments and their goal is to protect their customers wealth using skills and knowledge to provide additional customer value.

This company possesses a high caliber of investment know-how, but they also have a deep roster of other abilities. And the company is committed to treating their customers honestly, with kindness, and the utmost respect as you embark upon your investing journey.

The company is committed to helping their customers see the truth while experiencing kindness from this firm. They provide top level guidance in a friendly and educational manner. Their rapport with their customers is always professional yet friendly, so they will refer you to other companies if you’re looking for a service that they do not provide.

Their three-step retirement portfolio protection process includes:

  • Provide customers with a free investment guide to better understand the precious metals market. They share facts and knowledge instead of industry jargon or slimy sales tactics.
  • Communication with a transparent advisor who has knowledge and experience and can serve customers to meet their goals.
  • Advisors will open a gold IRA account quickly while simplifying the process that can be completed in as little as five minutes.

On their website, Noble Gold says that they have access to a wide range of suppliers. These suppliers offer competitive pricing and great deals, which are better than anywhere else in the industry. Their main claim to fame is gold IRA accounts, but they also sell rare precious metals and silver, palladium, platinum, and gold coins that aren’t precious metals IRA eligible.

They also have an amazing buyback program. They do not haggle or quibble with their customers but buy back everything when necessary.

They hate distasteful business maneuvers, have excellent storage facility access, and great ratings with the BCA and BBB, which makes this company a great option.

5. Regal Assets – Best Provider of Customer Service

Doing business with Regal Assets makes you feel like royalty. This company has a decade of fantastic ratings within this industry.

Even though this company is pretty young, they’ve been around since 2010 and their entrepreneurial spirit makes them a great company to use when buying alternative investments like silver and gold. They use simplicity and innovation instead of focusing on challenges and bureaucracy.

The company gained a wide array of attention from the media and traditional outlets like Bloomberg and Forbes throughout the years. They also have a wide range of followers, fans, and excellent testimonials from happy customers. They have a AAA rating with the Business Consumer Alliance and an A+ rating from the Better Business Bureau.

Regal Assets considers itself a one-stop shop for investing in cryptocurrencies and precious metals. Their main specialty is helping customers buy alternative investments to create diversified portfolios by investing in crypto and gold.

They understand the difficulty of maintaining such an excellent reputation. But they work hard to maintain this high standard by helping their clients first. They even educate their customers to make sure they feel comfortable when investing in alternatives by providing excellent learning materials.

They also believe in being transparent about fees and commissions, and they never hard-sell their customers either. This is unique and helps clients achieve their alternative investing goals.

Getting started with Regal Assets is really easy to do and they give their customers the royal treatment. Complete the form online and get their investor’s kit or immediately fill out the form to open your account. One of their specialists will call you to help you finish the setup process and then move on to funding the gold IRA.

Regal Assets sells physical precious metals including palladium, silver, platinum, and gold. And if you’re looking for digital currencies, you could also begin investing in cryptocurrencies on their site. Cryptos are volatile so keep that in mind because the risk is much greater.

The company has a great reputation for high quality customer service. Their pricing and cost will vary. In many instances, they will provide free first year’s storage and rollover fees like they have in the past. We recommend checking out this company for its great reputation and stellar transparency.

If your life is on a new trajectory and liquidating your precious metals becomes necessary, they charge no extra fees with their buyback program.

You can easily access them via online chat or phone and talk to somebody about your gold or cryptocurrency investments. They’ll help you set up your account and make it possible to retire comfortably in the future.

The Truth About a Gold IRA

There’s nothing new or special about individual retirement accounts. These investing vehicles are there to keep your money safe and protected for retirement. Traditionally, the regular IRAs have allowed investors to buy bonds, stocks, and keep their money in cash.

In the late 1990s, things began to change and gold IRA accounts came into existence. These self-directed IRAs made it possible for investors to buy precious metals like palladium, platinum, gold, and silver. Other self-directed IRA accounts allow investors to buy art, real estate, and crypto as well.

Similar to a traditional IRA, you can open a gold IRA using tax-deferred income. Alternative IRAs and traditional IRAs function the same and have maximum annual contributions, liquidation regulations, and limits on income.

Achieving financial security via alternative paths may seem more complex than  traditional IRA accounts. Buying precious metals including gold and other assets must meet the requirements set forth by the IRS. They have certain fineness standards that must be met at all times. Plus, you cannot purchase all gold and silver products according to IRS rules. Only specific bars, coins, and bullion fall under these guidelines.

Precious metals have to remain stored in a storage facility or depository that meets IRS approval. Your precious metals will not qualify for a gold IRA if they are stored in a facility without approval from the Internal Revenue Service.

Since a gold IRA has a complex nature, the fees are typically higher than those of a traditional IRA. You must find the right firm that can help you handle unique precious metals IRA rules and regulations. These providers often charge administrative, storage and set up fees. They will also charge commissions as well.

The gold IRA benefits will help you remain protected from inflation and provide additional retirement portfolio diversity. Picking a top-notch gold IRA company is the best way to secure these alternative assets.

Our Method for Ranking the Best Gold IRA Companies

We use the number of different factors to determine which gold IRA companies belonged on this list. Many of you might not necessarily agree with our choices, but every one of the farms mentioned here have great experience, phenomenal reputations, and excellent customer reviews.

Customer Reviews and Reputation

Receiving endorsements from big financial celebrities and other bigwigs are eye-catching, but we prefer hearing from regular people who’ve worked with these companies.

Do the reps at the company seem like they’re trying to make a quick sale? Are they acting heavy-handed by hard selling their customers? Do they seem to put themselves first over the customers? Do they help customers understand important transactional information? Or are they focused on doing their own thing? If a problem occurs do they fix it?

Out of the five gold IRA companies on our list, each one has excellent ratings with the Better Business Bureau and plenty of five-star ratings with other online websites as well as fantastic customer testimonials.

If you were grabbed by media attention and big names, that’s okay. As long as you’re sticking with these companies with a great reputation, there’s nothing wrong with that.

Simplified Setup Process

Having money in retirement is vital for a comfortable future. We want everyone to live a comfortable life after they’ve finally stopped working for good. Having a great retirement savings plan in place will provide peace of mind while securing your future financially. Nonetheless, the process for planning shouldn’t remain time-consuming or inefficient.

Each one of the companies that made our list has a simplified precious metals IRA setup process. Their representatives can guide you through the process in a step-by-step fashion very quickly. So, when you begin your retirement journey via phone or on their website, you’ll receive expert help and assistance immediately.

They aren’t going to offer shortcuts or things of that nature. These companies will protect your interests, themselves, and your account by following and meeting all of the standards set forth by the IRS.

Fees & Expenses

Expenses and fees are never easy to discover when dealing with gold IRA companies. It’s not that they’re trying to hide from you, but this industry has ever changing prices so things move fast. Companies prefer that you call them or contact them via their website so that they can talk to you in person to provide fees in real time instead of having you look at outdated fees on their website.

It was difficult to find the exact current price with each of these precious metals IRA companies, even though we did diligent research. Nonetheless, you can expect to pay certain fees and expenses including the following:

  • Commissions – gold IRA companies charge commissions that roughly equates to around 5%
  • Setup Fees – more than likely, the setup fee will cost less than $200, and many companies waive these fees if you deposit a certain amount of money in your account when you open it
  • Storage Fees – you’ll pay about $300 per year in annual storage fees, although first year’s storage fees are often waived when setting up your account
  • Maintenance Fees – these fees typically cost around $300 per year and might be waived in the first year depending on how much money you deposit in your account when you first open it

The majority of companies do not share this information on their website so it isn’t easy to find. But you can talk to an account rep and have them disclose all of the fees upfront before making your final decision. The companies that we’ve chosen on this list are known because they are transparent, so if you find a firm refusing to share information about expenses, you should run as fast as you can.

Choosing Silver and Gold Products

The gold IRA companies shared today also a wide range of precious metals that have IRS approval. The most popular choices are typically silver and gold investments, though many sell palladium and platinum too.

Each one of the best gold IRA companies shared today provide education to their clients as well. Use their knowledge and expertise to improve your personal knowledge about these investments. And use their websites to do your own research as well.

When you begin working with a representative, you can use their expertise in this industry to your advantage. Put this information and knowledge to work on your behalf. Browse through their precious metals IRA approved selection, question your representative, and find out more about funding your gold IRA.

Precious Metals Buyback Potential

It’s important to consider a buyback program in case you need to sell your precious metals quickly. You never know when life will cause you to change her plans.

More than likely, you have quite a few years to wait before you can start cashing in your IRA account during retirement. But circumstances change at times, so having a buyback program in place is crucial to your success.

If you need to sell some of your precious metals, each one of the companies in our top five all have buyback programs in place. The prices will fluctuate on precious metals investments, so you’ll have to talk to a customer representative to find out about the buyback value.

Keep in mind that if you cash out of your gold IRA before 59.5 years old, you’ll have to pay taxes and suffer a 10% penalty as well. We recommend keeping your IRA account active and in place unless you can afford to pay the 10% penalty. Then again, we realize that life doesn’t always cooperate with us, so having access to these funds is important no matter what.

Why Invest in a Precious Metals IRA?

If you’re ready to get started with alternative investing, opening a gold IRA account is the right way to go. The gold price will vary day-to-day and change based on economic factors, but the value trends upward over time even when the economy is experiencing financial uncertainty. This will help investors experience peace of mind during retirement planning, because it’s a safeguard to protect their other investments.

Similar to the stock market, there is risk when investing in a precious metals IRA, though from a historical standpoint this investment is more dependable. The biggest advantage of this type of account is adding retirement portfolio diversity. Gold investments do not earn dividends like a stock might, but it protects your retirement account from a recession or inflation. When the value of paper money goes down, the value of gold rises in turn.

Industry experts often sneered at gold IRAs because of the IRS regulations and their complex nature. Plus, they have larger fees. They claim to buy physical gold and silver without opening an IRA. This will remove the need for a depository and follow complicated rules and regulations.

Smart investors decide to diversify their retirement portfolio and protect these access against a volatile economy, and opening a gold IRA is an excellent way to accomplish this. Put a small amount of your funds like 10% of your overall wealth into alternative investments when you first rollover your gold IRA. The current precious metals IRA limit is $6000 per year or $7000 per year if you are above 50 years of age.

Talk to a financial advisor to find out if this investment is the right choice to meet your financial needs. Or contact a gold specialist at a precious metals IRA company to begin buying gold for your retirement.

Should I Purchase Gold Coins or Gold Bullion?

The IRS has very strict regulations for purchasing precious metals within a gold IRA. To stay compliant, and follow the rules, you must buy gold with a 99.5% purity, server with a 99.9% purity, and platinum and palladium with a 99.95% purity.

After picking a gold IRA company, the representative will use their expertise to help you pick the right purchases.

Many people like buying the American Eagle gold bullion from the US mint because it’s a very popular coin. Others prefer the Australian Koala or the Canadian Maple Leaf, which all have received IRS approval. Nonetheless, you are not allowed to buy collectibles, rare coins, Swiss Francs, British Sovereigns, or German Marks for your Gold IRA account.

There are certain benefits over buying coins as opposed to bars. They are easily transportable and even easier to sell. Their delivery is cheaper because they are lighter and you do not need as much security. It’s also tougher to counterfeit coins as opposed to bars.

One major advantage of buying bullion is that it reflects the market price more accurately at the moment of purchase.

The company you buy precious metals from will get a larger commission when buying bullion as opposed to coins. The companies that we recommend and other reputable ones will not try to push customers into making bigger purchases. If it seems like a company is hard selling you, you should consider switching to a better one.

At the end of the day, you must choose coins or bullion based on your particular investing needs. Use the education provided by your gold IRA firm to help you decide which option is best. And talk to your dedicated representative and use their expertise to make the right choice. After gathering all of this information, decide whether it’s best to buy bullion or coins.

Where Do You Store Gold IRA Approved Precious Metals?

Believe it or not, you must store your precious metals in an approved facility. The Internal Revenue Service has specific requirements for physical storage of palladium, gold, silver, or platinum.

The IRS says that these precious metals must remain stored in a facility including a credit union, savings-and-loan, federally insured bank, or another facility with pre-approval. The facilities can look at your precious metals as individual assets or one shared fund.

A custodian may endorse a particular depository. If this trustee doesn’t act as a bank, it must receive IRS approval in order to comply with auditing, reporting, security and accounting standards.

Acceptable storage facilities must have the latest security features including movement and sound pickup devices, and devices that pickups like vibrations. They must have high-tech locks with timing that automatically relock for additional security. The facilities typically have monitoring available 24/7.

Additionally, the insurance policies at these facilities tend to reach as much as $1 billion.

All of the firms that we recommend have excellent reputations. They have connections with the top storage facilities with IRS approval and they would never recommend a shady storage place. If they do for some reason, look at this is a major red flag.

Goldco provides their customers with a number of different storage options in places like Texas, Utah, and Delaware.

Augusta precious metals as depositories in Wilmington, New York, Salt Lake City, Los Angeles, and Las Vegas. 

Birch Gold Group strictly uses Delaware Depository and Brink’s Global Services. They have offices in Los Angeles, New York, Salt Lake City, Wilmington, and Seal Beach, California.

Noble Gold chooses to do business with International Depository Services. Their US-based secure storage facility is located in Texas.

Regal Assets does business with companies in North America and Singapore including Brink’s Global services.

Storage facilities that have received approval from the IRS to make the most of today’s top security advantages and keep investments in precious metals safe and secure. They also have great insurance policies to protect these investments in case the worst was ever to happen.

If you have additional storage related questions, you should talk to the representative at your gold IRA company. But remember, you make the final choice, so it’s up to you to pick the best facility.

Which Coins with IRS Approval Are Allowed in a Gold IRA?

At one point in the recent past, the only allowable coin in a precious metals IRA was the American Eagle Gold coin. In 1997, the Taxpayer Relief Act changed things and the IRS expanded the allowable precious metals in a gold IRA. They added 1/10-ounce Gold coins, ¼ ounce gold coins, ½ ounce gold coins, and 1-ounce gold coins from the U.S. Treasury.

Other gold coins with IRA approval include:

  • Canadian Maple Leaf Coins
  • Australian Gold Nuggets
  • Australian Kangaroo Coins
  • Austrian Philharmonic Coins
  • Chinese Panda Coins
  • Australian Lunar Coins

precious metals IRA account holders also have the option to buy gold bars including Credit Suisse PAMP Suisse bars and other gold products that reach IRS fineness standards and quality.

If you’d like to invest in silver, silver American Eagle coins and Silver America the beautiful coins were both approved by the IRS.

Other options for silver investments include the Mexican Libertad, the Chinese Panda, the Vienna Philharmonic from Austria, and the Australian Kookaburra coin along with the Canadian Maple Leaf. Each of these coins reaches approved IRS standards.

Besides the specific percentages of fineness, there are other standards that precious metals need to meet. Proof coins must have an authenticity certificate and remain in the original full packaging. Additionally, they must remain in excellent condition as well.

Bullion coins cannot maintain any damage whatsoever and they must appear like they haven’t been circulated.

Small bullion bars must adhere to precise specifications of weight. And precious metals products must be issued from a national government or refiner or manufacturer with certification.

Unless you know these products very well, it may seem like these standards are incredibly complex. But when you work with a gold IRA company that you can trust implicitly, they will help eliminate the confusion and make it easy to make the right decisions. They all possess the necessary experience and expertise to help customers choose wisely by picking investments that will help them achieve their retirement hopes and dreams.

Understanding the Gold IRA Rollover Process

This may not seem like it to you, but the concept of a gold IRA rollover for alternative investments is a normal and basic process. By rolling over an account, you are taking the value of a traditional retirement account and moving it to your gold IRA via the rollover process.

You can take the value of your traditional or Roth IRA account and move it at any time into a different IRA alternative account without suffering from penalties or fees.

After choosing a gold IRA company to work with, you’ll fill out an application and complete the process after submitting a request to rollover or transfer your account. The rollover is a direct way to transfer your account from one IRA custodian to another without you intervening in the process whatsoever. It can take as many as two weeks to complete the process and your representative will then help you buy precious metals after it’s finished.

It’s possible to initiate a gold IRA rollover from a number of different accounts including a 457 B, Thrift Savings Plan, 403B, and 401(k) if you no longer work for your previous employer who provided the account in the first place. If you remain employed with your federal employer, you can initiate a partial rollover if you meet specific age requirements.

During the direct transfer method, your custodian will send your gold IRA company a check to make it possible to fund your account and purchase precious metals.

An indirect rollover means the check will get sent directly to you. You have 60 days to send these funds to your new gold IRA custodian. If you miss the deadline and you aren’t 59 ½ years old, you will have to pay early withdrawal taxes and a 10% tax penalty as well.

Gold IRA Minimum Investments

The IRS imposes many regulations for gold IRA investment accounts, but it doesn’t have a minimum required investment in place. Unfortunately, many of the precious metals IRA companies do have minimums in place though.

In some cases, it might be possible but unlikely to open a precious metals IRA with $100. But more than likely, the minimum entry amount will be in the neighborhood of $2500-$5000 or more.

If you’re really serious about opening a gold IRA account, you are likely already a savvy investor and intended to further diversify your nest egg. The best gold IRA companies typically require a minimum investment of $5000-$25,000 to experience the benefits of their expert level services. This will help you make greater financial gains and provide retirement security for you and your loved ones in later years.

Regal Assets and Augusta Precious Metals allow customers to open a gold IRA account with $5000. Noble gold and Birch Gold Group require customers to invest a minimum of $10,000 when opening a gold IRA. And has the biggest barrier to entry with a minimum gold IRA investment of $25,000.

Younger investors looking to grow their retirement savings shouldn’t give up on a gold IRA if they do not have a lot of money. Use other investment vehicles in the beginning to make smart choices, and later on you can roll that over into a gold IRA account once you meet the minimum investment requirements.

Gold has been a rock-solid investment for thousands of years and it isn’t going anywhere anytime soon. So, if you’re planning for retirement, it’s wise to invest in a gold IRA to reach your retirement goals.

The Bottom Line on Choosing the Right Gold IRA Company

When it’s time to choose your retirement investments, opening a gold IRA account is a great way to improve your overall financial picture many years in the future.

Everyone has unique goals, investment ideas, and plans for their retirement. Each one of the company’s shared today are experts in their field and possess a tremendous amount of knowledge that help their clients achieve their dreams and retirement.

When you’re ready to begin the process of opening your Gold IRA account, you’ll never regret choosing one of the recommendations shared today because they are the best gold IRA companies. Of course, it’s up to you to make the final choice, but you should choose the company that feels like the best fit to meet your needs.

Look through their websites and pay close attention to the information that they share and reach out to each of their customer representatives. This will help you make the right choice to find the best gold IRA company as you improve your retirement planning for the future.

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