In general, a Gold IRA charges three fees. Gold IRAs have higher maintenance fees than other types of IRAs because of the additional costs associated with investing in gold. In addition to brokerage fees and account setup fees, the investor must pay additional costs to store and insure the precious metal. They can also be a premium on sales costs and an additional fee for closing an account.
Like a traditional IRA, where you can hold stocks, bonds, or mutual funds, a gold IRA is a tax-preferred investment vehicle and is the only option to hold physical precious metals in an IRA. A gold IRA is characterized by the fact that you own the actual precious metals, as opposed to stocks or fund shares in mining companies. Most gold IRA companies buy back precious metals that you bought from them, but repurchases are generally made at the wholesale price, which is often around 30% below prevailing retail gold prices. Gold IRA companies differ in that some allow you to choose between multiple custodian firms and depositories, while others require that you use custodian banks and custody services of their choice.
Some gold IRA companies describe their offerings as diverse because you can hold more than one type of precious metal in them. If you choose to fund the account with assets that are currently in another IRA, the Gold IRA company will help you manage the rollover (more on that process below). Gold IRA companies are essentially brokers who sell IRS-approved precious metal coins and bars that you can invest in a gold IRA, as well as non-IRA precious metals purchased from collectors. Depending on which custodian bank the investor chooses, there may be costs associated with opening a gold IRA, keeping the gold safe and maintaining the account.
Customers who buy gold and silver outside of an IRA will continue to receive advisory and administrative services from the firm. Unlike a gold ETF, an exchange-traded fund that tracks the performance of gold, a gold IRA allows you to hold the physical precious metals as long as you store them in an IRS-approved custodian. The members and staff of this team have years of experience dealing with gold IRAs and have valuable insights into new issues and trends surrounding the precious metals market, which can help clients make the right decisions at the right time. When choosing an experienced and trustworthy Gold IRA rollover provider, factors such as fees, reputation, customer service, investment options, and more must be considered.
The leading Gold IRA companies offer unbiased educational resources, investor information, responsive customer support, and easy account setup. Investing in a gold IRA is a good decision for those who want to diversify their retirement portfolio and protect themselves from inflation and economic volatility. You can invest in gold ETFs that own physical gold, such as SPDR Gold Trust (GLD) or iShares Gold Trust (IAU). Additionally, American Hartford Gold does not charge any additional fees for setting up a Gold IRA and shipping a customer’s gold bars to a custodian.
