Can I Use My IRA to Buy Gold?

A gold IRA is just like any other individual retirement account in the form of a self-directed IRA. The difference lies in what your IRA is invested in.   The Employment Retirement Income Security Act of 1974 (ERISA) allowed the formation of the Individual Retirement Account and with it, the Self-Directed IRA. Just like any IRA, you can open an account and make the allowable annual contributions, or you can rollover or transfer from an existing retirement account. The difference is what investment options are available. Self-Directed IRAs allow individuals to invest in non-traditional investments such as gold and other precious metals. As we saw in 2008, Wall street is unpredictable! We need some  “insurance” in our IRAs to protect our retirement savings. The time-tested stability of gold and other precious metals makes a gold IRA an appealing addition to your retirement portfolio, and yes, you can add certain types of gold to your individual retirement account. In addition to the protection that gold and other precious metals offer, the self-directed IRA allows you to be in control of your retirement. The drawback of many employer-sponsored plans is that you are at the mercy of the funds that your employer chooses. You may also have no protection against future loss. The good news is that there is an easy fix for both of these situations.

In a gold IRA,  you have the opportunity to invest in physical gold and other precious metals. This is important because gold provides you with the growth potential and insurance against future losses that other types of investments in your retirement accounts don’t offer.  The price of gold, unlike traditional stocks and mutual funds, tends to increase in value in the face of economic adversity and instability. This means that when traditional paper-backed investments lose value, the gold in your account generally increases in value, acting as a hedge of your retirement portfolio. Gold also has the ability to increase in value when markets are good, ensuring that your savings reach their maximum earnings potential.

Why Gold?

What do you expect life to be like when you retire? Have you been thinking about your retirement savings strategy and wondering how you could improve it? If so, you aren’t alone. Many people, especially those hardest hit by the Great Recession of the last decade are finding themselves wondering whether their current retirement strategy is strong enough to make up for their losses in 2008 as well as protect themselves from future losses.

The truth is that if you are invested in a Traditional or Roth IRA or a company sponsored plan such as a 401(k), you may not be aware of some weaknesses that are common among all of these paper backed investments. These paper backed investments are based on the value of money. The value of money can be measured by buying power and exchange rate. Buying power is the amount of goods or services that are exchanged for your money. Exchange rate is the value of your currency versus another currency. This affects your daily life because if the value of the dollar decreases, gas prices go up, food prices go up, and your dollar does not go as far as it did before.

What metals can I put in my IRA?

There are a number of different precious metals products that you can invest in. However, not all gold, platinum, silver or palladium products are eligible. Each product must meet specific fineness or purity requirements as stated by the IRS. This ensures that your investment will leverage the tax benefits that an IRA provides.

It is important to mention that because gold is a physical asset, you might think that you can store your gold at home in your own safe. Unfortunately, this isn’t the case. The precious metals you invest in must be held in the custody of an IRS approved custodian that is in charge of administering your IRA and stored in a licensed, insured depository.

Goldco offers a wide range of gold, silver, platinum and palladium products that are approved by the IRS for inclusion. Some of the more popular options include the 1/4 oz UK Gold Lunar Year of the Rooster as well as the 1/4 ounce Gold Australian Saltwater Crocodile. Both of these products meet the stringent fineness test for inclusion.

As mentioned previously, platinum and palladium products are also eligible. Goldco offers an array of platinum products that meet IRS requirements including the Platinum Canadian Maple Leaf Coin and various palladium bars and coins. Questions concerning which investments are the right ones for your needs can be answered by your Goldco IRA representative.


As mentioned previously, gold IRAs offer several benefits over other types of retirement accounts. These include offering protection against loss for your retirement account balance as well as allowing you to grow your account balance no matter what the financial markets are doing. Investing in gold and other precious metals provides a more inherently stable investment option and also provides diversification to your retirement account so you’re holding more than just traditional investments like stocks and mutual funds. This is because while the price of gold does fluctuate, it does so with much less volatility than paper backed securities.

Getting Started

Thinking that gold might be a perfect choice for your retirement savings needs? Great. The next thing that you need to do is open your account. Opening an account is an easy process that doesn’t require you to spend any money out of your own pocket, as long as you already have an employer-sponsored retirement plan:

  1. The first step is to contact Goldco today and start the process. Together, we will complete the documents to set up your account and transfer or rollover funds from your existing IRA, 401k, or other employer sponsored plan to open the account.
  2. The next step is to send back your completed paperwork and let Goldco go to work for you.
  3. We will open your account and process the necessary documents to transfer the funds in your existing account without having to worry about paying taxes or early withdrawal penalties. Once your account is open, your representative will then be able to help you make informed decisions regarding the precious metals you should invest in. The entire process usually takes about 2-3 weeks.

In the past, the process of investing in gold was somewhat difficult and challenging, making it an undesirable option for the everyday investor. However, after the events of 2008, more and more people are looking for better ways to save for their retirements as well as protect their savings from future instability. Goldco is ready to help you make better investment decisions. Call us at (855) 465-3472 and speak to one of our friendly, knowledgeable representatives about your options today!

Choosing a Reliable Custodian

Choosing a reliable custodian that has a clean track record is crucial to making sure your investment is secure and that you have peace of mind for retirement. Read verified reviews on various review sites to help you guide your decision. Goldco maintains a stellar reputation and is highly reviewed across multiple review sites.

Check out our latest reviews:

Frequently Asked Questions

Why do I need a custodian for my IRA?

Every self directed IRA requires the use of a custodian as stated by the IRS. If a company is offering you the ability to hold your precious metals at home and count towards your IRA, steer clear as this is not legal.

Is the gold in my IRA safe?

First of all, your gold is stored in a secure vault in an IRS approved depository (Delaware Depository). Your gold is also insured by Lloyd’s of London in case anything does happen. Speak with your Account Executive for any questions about where your gold is stored and how it is protected.

When and how can I take distributions from my precious metals IRA?

At the age of 59 1/2, the beneficiary can start taking distributions from their account. This can be in the form of physical precious metals, or you can sell it back to us or on the free market. The same taxation rules apply as they do for other types of retirement accounts, depending on the type of IRA (Roth vs. Traditional). Consult with your Account Executive for more questions.


Rollover – The process of moving assets from an employer-sponsored retirement account (such as a 401(k) or 403(b)) to an IRA. There are specific rules for direct rollovers (trustee to trustee) and indirect rollovers (liquidated account). See our 401(k) rollover page for more details.

Transfer – IRA to IRA movement of retirement funds.

Gold Spot Price – Current price of gold.

Custodian – A financial institution that hold’s an individual’s assets/securities for safekeeping as required by the IRS. They are authorized to act on behalf of the individual.

Depository – Where your gold or precious metals are stored.