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How To Buy Gold in an IRA
Learn how to use a self-directed IRA to purchase physical gold and diversify your retirement savings with IRS-approved metals.
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At a glance:
- A gold IRA is a self-directed retirement account that allows you to invest in IRS-approved physical gold stored in a secure depository.
- To buy gold in an IRA, you must open a self-directed IRA, choose a gold IRA company, fund the account, and purchase eligible gold coins or bars.
- While gold IRAs offer diversification and inflation protection, they come with higher fees and lower liquidity compared to traditional retirement assets.
Buying gold in an IRA involves using a self-directed retirement account to hold physical precious metals such as gold bars or coins. This option follows IRS rules and allows investors to store approved metals in a secure depository.
In this guide, we’ll explain what a gold IRA is, how to purchase gold through one, and what to know about IRS requirements, storage rules, and account setup.
What Is a Gold IRA?
A gold IRA is a self-directed individual retirement account that holds physical precious metals instead of mutual funds, stocks, or other traditional assets. It gives you full control over your investment choices while staying within IRS guidelines.
Gold IRAs follow the same tax structure as other retirement plans. Traditional gold IRAs grow tax-deferred until withdrawal. A Roth IRA offers tax-free withdrawals if you meet IRS conditions. Contribution limits apply each year, and required minimum distributions (RMDs) begin at age 73.
How to Buy Gold in a Self-Directed IRA
The IRS allows only certain metals in a gold IRA and requires storage in an approved depository. Here’s how to open the account, fund it, and buy gold in your IRA while following all IRS rules.
Step 1: Open a Self-Directed IRA
To buy gold for retirement, you need a self-directed IRA (SDIRA). Regular IRAs at banks or brokerages only hold stocks, bonds, or mutual funds. They don’t allow physical gold or other metals.
An SDIRA lets you include IRS-approved gold in your retirement plan. To open one, contact a custodian who handles physical assets. The custodian sets up the account, files tax forms, and connects you with a secure storage facility.
Before getting started, take time to understand gold IRA pros and cons to make sure this type of investment aligns with your retirement strategy.
Step 2: Choose a Gold IRA Company
After setting up your self-directed IRA, the next step is to choose a gold IRA company. These companies sell IRS-approved coins and bars and help arrange delivery to the depository linked to your account.
The best gold IRA companies help you select IRS-approved metals and arrange secure delivery to your custodian’s storage facility. Here are four well-known options:
- American Hartford Gold: Offers gold, silver, platinum, and palladium for IRAs. Known for its buyback program and promotional offers like free shipping and storage. Storage partners include Delaware Depository and Brink’s.
- Goldco: Specializes in rollovers from existing 401(k) or IRA accounts. Helps with setup, paperwork, and custodian coordination. Requires a $25,000 minimum investment.
- Augusta Precious Metals: Focuses on transparency and education. Offers lifetime support and one-on-one onboarding. Stores metals through Delaware Depository.
- Birch Gold Group: Known for investor education and wide metal selection. Offers promotional pricing and works with multiple storage providers, including Brink’s and Texas Precious Metals Depository.
Before choosing a provider, compare pricing, investment minimums, service structure, and storage options to find the best fit for your retirement goals.
Step 3: Fund Your Self-Directed IRA Through a Rollover or Transfer
After you open the gold IRA account, you’ll need to fund it before buying any gold. There are three ways to do this, depending on where your retirement savings are held:
- If you have an existing IRA: Ask your new custodian to request a direct transfer. The funds will move from your old IRA to your self-directed IRA without taxes or deadlines. This is the simplest method if you’re switching between IRAs.
- If you have a 401(k) or similar workplace plan: Contact your plan provider to start a rollover. If they send the funds to you, deposit the full amount into your self-directed IRA within 60 days. Missing the deadline could trigger taxes and penalties. Some providers also offer direct 401(k) rollovers to gold IRAs, which avoid this step.
- If you’re contributing new money: You can make a cash contribution of up to $7,000 in 2025, or $8,000 if you’re age 50 or older. Your custodian will provide instructions for wiring or mailing the funds to your new account.
Most rollovers and transfers take 5 to 10 business days, depending on the providers involved.
Step 4: Purchase IRS-Approved Gold
When your funds are available, contact your gold IRA company to place your order. They’ll walk you through the eligible gold coins or bars and help you select metals that meet IRS rules.
Unlike investments in cryptocurrency or gold mining stocks, a gold IRA involves the purchase of physical metals that are securely stored on your behalf. Once you confirm the purchase, the company will ship the metals to a depository approved by your custodian. The IRS requires all metals in a gold IRA to be stored in a secure, regulated facility.
Approved depositories include Brinks, Delaware Depository, and International Depository Services. These facilities meet federal standards and provide insured gold storage on your behalf.
After the metals arrive, your custodian will confirm the deposit and update your account records.
Types of Gold You Can Hold in an IRA
To qualify for a gold IRA, the IRS requires gold to be at least 0.995 pure, except for American Eagle coins, which are allowed to be 0.9167 pure. The following types of gold are allowed:
- Gold bullion: Refined gold that meets IRS purity standards, typically in bar or ingot form.
- Gold bars: Must be produced by an approved refiner, assayer, or manufacturer.
- Gold coins: Must be government-issued and non-collectible, such as American Eagles or Canadian Maple Leafs.
The IRS does not allow collectibles, including rare, graded, or commemorative coins. It also excludes paper assets like gold ETFs and mutual funds. Only physical gold stored in an approved depository qualifies for inclusion in a gold IRA.
Benefits and Risks of a Precious Metals IRA
Gold IRAs offer certain advantages that align with long-term retirement goals, but they also come with specific trade-offs. If you’re weighing a gold IRA vs physical gold held personally, you need to understand how IRS rules, storage requirements, and tax benefits set these investment options apart.
Here’s what to consider before adding physical gold to your investment strategy.
Benefits of Holding Gold in an IRA
- Supports diversification by adding a non-correlated asset to your retirement portfolio
- Helps protect against inflation and currency decline over time
- Acts as a store of value during periods of market volatility or geopolitical risk
- Offers tax-advantaged growth through tax-deferred (traditional) or tax-free (Roth) IRAs
- Strengthens your long-term retirement investment strategy by preserving purchasing power
Risks and Limitations of a Precious Metals IRA
- Higher fees for account setup, annual maintenance, IRA custodian services, and insured storage
- Lower liquidity than mutual funds or other market-based assets; metals must be sold through a dealer
- Limited access to funds compared to traditional brokerage accounts; metals cannot be quickly traded
- RMDs still apply starting at age 73 for traditional IRA
FAQs
Costs vary by provider, but most gold IRAs include a one-time setup fee, which usually ranges from $50 to $100. You’ll also pay annual custodian and storage fees, which typically range from $150 to $300, depending on the provider and storage option. In addition, gold dealers charge a markup above the market price, which can vary based on the type of coin or bar you buy. Some accounts may also include transaction or wiring fees, so it’s important to review the full fee schedule before opening an account.
Yes, you can move retirement savings into gold coins using a self-directed IRA, as long as the coins meet IRS rules. However, gold does not produce income like dividends or interest. Relying entirely on gold may reduce liquidity and limit long-term growth. Financial strategies that combine physical assets with market-based gold investments may offer more flexibility and access to funds during retirement.
Gold IRAs hold physical metals stored in an approved facility, while gold ETFs are paper assets that track gold prices. ETFs are easier to buy and sell, and they often have lower fees. Gold IRAs require more setup and cost more to maintain, but they give you direct ownership of the metal. Each option works differently and may fit different retirement goals.
The main difference is when you pay taxes. With a traditional gold IRA, you may get a tax deduction when you contribute, but you’ll pay taxes when you withdraw the money in retirement. With a Roth gold IRA, you pay taxes up front, but qualified withdrawals are tax-free. Both accounts can hold the same IRS-approved metals and require secure storage in an IRS-approved depository.
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