What Is a Gold IRA?
“Gold IRA” is an industry term for a self-directed individual retirement account that can hold certain qualifying physical precious metals through an IRA custodian. It is not a separate tax category created by the IRS.
What makes it different?
A self-directed IRA can permit alternative assets that many mainstream custodians do not offer. Investor.gov notes that self-directed IRA custodians generally administer the account but do not evaluate the quality or legitimacy of the investment itself. That means the account owner carries more due-diligence responsibility.
Can any gold go inside?
No. The IRS generally treats metals and coins as collectibles, but federal law contains specific exceptions for certain coins and qualifying bullion. Exact product eligibility matters, as does who holds the asset for the IRA.
What costs should you expect?
Potential costs can include account setup, annual administration or custody, depository storage and dealer transaction pricing. A quoted annual IRA fee therefore does not necessarily represent the total economic cost of buying and later selling metal.
Continue with Gold IRA fees, Gold IRA risks and how to compare Gold IRA companies.