What Is a Gold IRA?

Like a traditional IRA, you can set up our Gold IRA to save for retirement using pre-tax funds. Or you can use post-tax money like a Roth IRA. And when you add physical gold to your nest egg through a Gold IRA, you may benefit from gold’s historical track record as a defensive asset that tends to gain value in uncertain economic times and during financial crisis. 

Can I open a Gold IRA with my bank or brokerage firm? 

Financial institutions like banks and brokerage firms typically don’t offer precious metals or self-directed precious metals IRAs. To add precious metals to your retirement savings, you’ll need to work with a top-tier precious metals provider and a third-party custodian that specializes in alternative assets. You’ll want to make sure you work with experts who are well-versed in tax reporting and compliance requirements for your Gold IRA. 

At Colonial Metals Group, we make setting up your Gold IRA a breeze: 

First, your Gold IRA specialist will guide you every step of the way and help you open your Gold IRA with a qualified IRS-regulated custodian of your choice. 

Then, you can fund your account in as little as 3 days. We’ll help you make the request to shift funds from your existing IRA, 401(k) or other plans into your new Gold IRA.  

Finally, our team will help you handpick the right mix of precious metals to meet your goals. 

Your dedicated precious metals expert will be there to make the process simple, fast and easy. We’ll handle all the paperwork, ensuring a seamless and stress-free experience. And you can rest easy knowing your savings are in expert hands. 

Which precious metals are eligible for my Gold IRA? 

Precious metals for an IRA must follow strict purity standards determined by the IRS. Colonial Metals Group offers a thorough selection of IRA-approved precious metal coins and bars to help you diversify with confidence. Our team of experts will help you select the optimal mix of precious metals for your unique needs and aspirations.  
 
If you are ready to take the first step or just have questions, call 800-465-6009 to speak with a Colonial Metals Group specialist about your options. 

What are Gold IRA contribution limits? 

The IRS treats Gold IRAs like traditional IRAs when it comes to annual contribution limits. Be sure to consult with your financial advisor to avoid over-contributing, particularly if you’re funding other retirement accounts in addition to your Gold IRA. 

Where will I keep my Gold IRA metals? 

Metals in a Gold IRA must be stored in a secure IRS-approved depository in an account you own and control. You will have 24/7 access to statements and to your holdings. And when you take a distribution, you have the option to either liquidate your metals and receive a check or a wire, or have the metals shipped directly to you.  

For optimal security and peace of mind, we recommend storing your Gold IRA with Delaware Depository in Wilmington, DE. This state-of-the-art facility handles billions in transactions and is fully insured by London Underwriters, ensuring your metals are protected by the highest standards in the industry. 

What happens to my current IRA and 401(k)? 

You can keep your current IRA and 401(k) and roll over a portion of your savings from those accounts into a separately held Gold IRA. This allows you to diversify your portfolio and defend your current holdings against economic turmoil. Our knowledgeable specialists will help determine which of your accounts qualify for a Gold IRA rollover and guide you through the simple process, step by step.