How to Buy Gold for IRA – Step by Step & From Where

While a number of individuals are seeking to both secure and diversify their investments, most don’t know how to buy gold for IRA or where to purchase precious metals.

how to buy gold for iraHere we’ll offer information on where to purchase precious metals the right way, how to set-up a gold IRA account and how funds can be rolled over into an IRA from a 401(k). We’ll also discuss the benefits of investing in rare metals rather than holding onto paper money or buying other assets and how to store precious metals once you own them.

Over the past several years, world economies have shown signs of major weakness which is partially due to natural calamities and political turmoil among other things. Many investors have therefore opted to shift their investments from traditional financial products to alternative options such as precious metals.

Why Precious Metals Backed IRAs?

These are IRAs that include precious metals in full or in part as one of the investments. Precious metals backed IRAs are highly stable and secure and they also have an impressive likelihood of returns when compared to ordinary asset IRAs. Metals maintenance, durability, rarity and purchasing power are among the many benefits gold IRA investment entails.

Currencies, stocks, bonds and other paper assets, however, are impacted by a variety of economic and global factors in terms of their performance whereas physical metals are known to retain their overall value. Transferring funds from your IRA or other retirement plan into precious metals backed IRA will give you a more diversified portfolio. It additionally provides stability against currency inflation and economic dips.

Rolling over or setting up a retirement plan into an IRA backed by precious metals starts with…

Purchasing authentic, rare metals is easy, whether this investment is short or long term. For safety’s sake, however, it is best to buy valuable metals solely from reputable dealers. You also have the ability to authorize your IRA custodian to buy metals for investment in your IRA. This is usually all done over the phone and with faxing signed documents or sending through the mail.

How to Buy Gold for IRA

The most common way to buy these precious metals is from a reputable dealer online. When rolling an IRA over, you want to inform your custodian, find a registered dealer of gold and other metals, request IRA funds to secure these metals and then store them in a depository that is IRS approved.

There are companies that take care of this entire process (also setting up IRA) while acting as dealer and custodian. Our top recommended company currently for this is Regal Assets. They have the lowest fees and are currently offering free storage for 1 year and are waiving all set-up, admin costs etc. for the first year as well. (See our article on Low Cost Gold IRA)

Tax Benefits

There are tax benefits with all IRAs. These benefits, however, are dependent upon the type of IRA that the individual has. For example, Roth IRA taxes the investments when assets are deposited but withdrawals are tax-free. Conversely, traditional IRA taxes withdrawals but deposits are tax-free.

Rules for Gold IRA

Precious metals can be invested in your IRA. All IRA gold, however, will need to be in a form that is approved by the IRS such as bullion, coins and bars of qualifying specifications and these will all need to be bought from a precious metals company. You may click the picture below to see which types of metals are approved for IRA investing.

IRA approved precious metals
Click image for a list of IRA and IRS approved precious metals

 

The personal storage of gold is regulated by the IRS in order to minimize black market trade, which means that these can only be stored by third-party custodians that have been approved by the IRS. Precious metals and pearls, diamonds and palladium items, however, can be stored in the investor’s chosen depository.

The Bottom Line

Precious metals investing is a great way to stabilize and diversify a retirement account and the overall investment portfolio. People can buy their gold direct or they can set up an IRA or even roll their current 401(k)ks over into IRAs that are backed by metals without a lot of trouble. IRAs that are backed by rare metals enjoy the same tax benefits as the IRA type the metals have been invested in. We hope we were able to help shed the light on how to buy gold for IRA and from where.

If you are interested in getting professional detailed advice then we suggest contacting Regal Assets for a free gold IRA investment kit and also speaking with one of their knowledgeable representatives.

Click for their official website : http://www.regalassets.com

If you prefer to chat with one of their friendly precious metals experts you may call:                                                        1-855-712-2993

Or once on their website, just fill out their quick form on the top right and they’ll call you to confirm before sending out the hard copy kit. 

One of the main reasons we continue to recommend Regal Assets year after year is their reputation for superb customer service without any pushy salesman tactics. Just ask your questions then take your time, they will NOT hassle you.

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