Gold IRA Companies

Retirement is just around the corner. For some of us, that corner is 30 plus years, while for others, 5. It is supposed to be a more relaxing time, retirement, a time where you can finally stop the daily 9 to 5 workday, take a step back, ponder whether on Wednesday morning you’d rather go to the bank or watch a dog sleep. The list of things not related to work are endless, and for that, we toast retirement and hope everyone has a relaxing one.

However, to retire right, meaning not working and thus having income to call upon, a nest egg is necessary. The individual retirement account (IRA) is a common tool used in the States to sock away money for retirement. The investments held in IRAs can be a range of financial products – mutual funds, stocks, bonds, ETFs, etc. Now, the “etc.” part is constantly evolving, and one of the items that some IRAs, not all, allow you to also place into your IRA is gold.

To give some perspective on this sought-after, shiny metal, gold prices have fluctuated from $255 per ounce in August 1999, to $1,839 in September 2011, down to $1,468 in November 2019. Like a stock, its price moves rather frequently, often characterized by big swings. The gold IRA was started in 1997 and it gives investors yet another item with which to invest in for the long-term. Gold IRAs appeal especially to investors in the hunt for the most diversified portfolio possible. Gold prices will move in the opposite direction (in general) of paper assets so it is a natural hedge to falling security prices. This provides the investor a more balanced approach.

Since the disastrous financial crisis of 2008, gold IRAs have jumped in popularity. Record gold sales have been registered but choosing the right and appropriate company to invest with can be a challenge. Gold IRAs can either be Roth or traditional IRAs. The gold itself is in coins or bullions, and precious metals must meet the IRS fineness standards and be held by an IRA trustee, not the IRA owner. This means that you cannot simply have gold coins sitting at home where the value is part of your IRA. Rather, the company managing your IRA must hold them for you.

One of the best rated gold IRA companies is Goldco. The gold invested with these cats must be at least .995 pure and all precious metals will need to be placed in Goldco hands. They will be secured in a depository (licensed and insured) and the entire account will be overseen by an IRS custodian.  

Another solid choice is Regal Assets. A plus with Regal is you may choose more than simply gold to invest in. Silver, platinum and palladium are also common choices, and with a Precious Metals IRA, you may hold more than one. With Regal, gold and silver bullions are common, as are platinum bars and American Eagle coins. An easy, online process makes signing up a snap and every investor is assigned a personal investment advisor.

While it might sound antiquated investing with physical bars of gold, this is a hot industry. Being diversified is critical, either of these two companies are great first steps.