What Is Gold IRA Investment

The most common question I get asked all the time is what is gold IRA Investment?

What is Gold IRA Investment Definition

A gold IRA investment is an individual retirement account, an account that functions the same way as a regular IRA account however, instead of holding paper assets, it holds physical bullion coins or bars.

what is gold ira investment
American eagle coin

Reasons to Invest in Gold and Silver

There are several reasons to invest in gold. The most important are:

  •  To protect and preserve wealth from unexpected events.
  •  A hedge when the stock market is not expected to do well.
  •  Portfolio diversification.
  •  The weak dollar
  •  Loss of confidence in central banks
  •  Geopolitical uncertainty (Middle East, Brexit, ISIS, North Korea, Hong Kong.)
  •  The US-China trade war.
  • The covid-19 caused recession

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To an ordinary person, a good reason to invest in gold is when paper money is worthless. That has happened several times, especially in the seventies when due to high inflation, paper money even the dollar lost its value dramatically. Low or negative interest rates are also another reason for an ordinary person to preserve his/her wealth.

There are four precious metals allowed to be held in an individual retirement account, and these are gold, silver, platinum,  and palladium. Certain criteria are required for precious metals, in order to qualify as precious metals that can be held in an IRA.  The precious metals coins and bars must meet IRS fitness standards and must be held by the IRA trustee, rather than the IRA owner.

IRS Approved IRA Coins and Bullion

When it comes to investing in IRA coins or bullion, not all coins or bullion are approved. That’s because the IRS has placed strict purity rules and requirements. Therefore, all coins and bullion approved, are those who meet the strict IRA rules. The IRA-approved gold should have a purity grade of at least 0,995, for silver 0,999, for platinum 0,9995 and 0,9995 for palladium.

Gold IRA approved

  • 1-American gold eagle coins
  • 2-American gold buffalo coins
  • 3-Australian gold kangaroo nugget/coins
  • 4-Austrian gold philharmonic coins
  • 5-Canadian gold maple leaf coins
  • 6-Credit Suisse golden bars
  • 7-Johnson Matthey gold bar
  • 8-Valcambi gold combi bar

Silver IRA approved

  • 1-American silver eagle coins
  • 2-Australian kookaburra silver coins
  • 3-Austrian Philharmonic silver coin
  • 4-Canadian silver maple leaf coins
  • 5-Mexican silver Libertad coins
  • 6-Johnson Matthey silver bar
  • 7-Royal Canadian silver bar

Platinum IRA approved

  • 1-American eagle platinum coins
  • 2-Australian koala platinum coins
  • 3-Canadian maple leaf platinum coins
  • 4-Isle of man noble coins.

Palladium IRA approved

  • 1-Canadian palladium maple leaf coins
  • 2-Russian ballerina palladium coins
  • 3-Baird palladium bars
  • 4-Credit Suisse palladium bars.

Gold must be stored in an IRS-approved depository. In particular, investors do not have to stash gold bars or coins in their homes or closets.

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What is gold IRA investment

Should I Include Gold in my Retirement Plan?

Gold is the type of investment that can protect you when times are hard and at the same time will also offer significant gains to your nest egg.  Back in 2001, an ounce of gold cost $271,00.  Ten years later it reached $1896,00, an increase of almost 700%.  

During that time, banks and currencies collapsed, and the real estate market collapsed, but the price of gold didn’t.  In particular, gold fed from these calamities, was the rediscovered idol, in the time when everything else collapsed, from mortgages, stocks, credit default swaps, and derivative products, all was too complicated to even understand.

As you can see, a standard IRA, an IRA invested totally in stocks bonds and other funds is actually putting your hard-earned money at risk.  You are relying on the government, weak currencies, economies, and large corporations.  Gold and silver can actually safeguard your investment.

Since the 2008 financial crisis, gold IRAs have become very popular. Record gold sales, combined with the appearance of many more, that simplify the transaction, have made investing in an IRA a one-shop stop. The result is robust IRA growth.

Nowadays, it is absolutely necessary for the investor to invest a portion of his/her savings in gold, as the dollar is still weak, there is geopolitical uncertainty, (Middle East, Hong Kong) the country’s (US) trade deficit is out of control, the US-China trade war, Brexit and the potential inflationary impact of the Federal Reserve’s, stimulus programs.

How does it Work?

It works the same way as a regular IRA account, however, instead of holding paper assets, it holds physical bullion coins or bars.

Finding a Reliable IRA Broker.

Now that you have a basic idea about what is gold IRA investment, you probably wish to know how you can actually invest in one.

It is imperative for the investor to find a reliable IRA broker.  Choosing the right firm can mean success or failure as a gold owner.  

Choose the right firm and it will help you protect your assets from economic uncertainties. Choose the wrong firm, and your funds can be directed to an assortment of bullion-related investments, investments that are not truly asset preservation vehicles.

For example, gold stocks, gold exchanges traded funds, and mint state and proof coins graded by independent services put the buyer at a disadvantage either by selling for high mark-ups or by putting the whole investment at systemic high risk.

what is gold ira investment

Check out the comments regarding the firm, especially the complaints, and see how these complaints were handled.  If there is a long list of complaints, then this is a sign to worry about.  Also, check the number of years the company has operated, you want ten years of solid record.

Finally most important is to choose a firm with a commitment to keeping you informed.  Keeping you informed now and in the future.  If a salesperson gives you a short shrift or hits you with a high sales pitch, then this is bad news.

In the past, the whole process was complicated and was mainly done by phone. Today, with the advancement of technology and many more, you can choose a gold broker online and automatically be assigned an IRS-approved custodian. A custodian’s duty is to oversee the whole process, from application to funding, rollover, purchase, and vaulting.  

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Investing in a gold IRA is becoming increasingly popular for the modern investor, as gold can offer a number of benefits to the investor. Gold will actually act as a hedge to protect your life savings during bad times.

Gold IRAs require special expertise to value. Although gold has the potential for high returns, it is easy to be blinded by its glitter. If you are considering a gold IRA, my advice to you will be to consult an IRA expert. He will determine how gold would fit with the overall goals of your portfolio.

By now you should have a pretty good on what is gold IRA investment. If you happen to have any questions left do not hesitate to ask me in the comment section. I will get back to you.



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