Rollover vs Trustee-to-Trustee Transfer
The words are often used interchangeably in sales conversations, but the IRS treats them differently.
Transfer
A trustee-to-trustee transfer moves IRA funds directly between institutions. Publication 590-A says it is not a rollover and is not subject to the one-rollover-per-year waiting period.
Rollover
A rollover generally involves an eligible distribution moving from one retirement arrangement to another. If the money is paid to you, deadlines and withholding can become relevant.
When opening a precious-metals IRA, ask the receiving custodian to identify the transaction type in writing.