How Do You Buy Gold Coins For an IRA?

Gold‘s longstanding value and ability to preserve wealth make it an attractive option for retirement savings accounts (IRAs). But how can you purchase precious metals for an IRA?

First, it is necessary to select an IRA company and custodian that allow physical gold investments. After this step is completed, select which type of gold bullion coins or bars you would like to invest in.

How to Open an IRA

Gold has long been considered an asset that symbolizes wealth and can serve as an effective hedge during times of economic instability. Many investors find solace in adding some precious metals like gold to their retirement portfolios.

Gold has long been seen as an asset that protects against economic turmoil, and investing in physical gold, silver and platinum through a Precious Metals IRA can be an excellent way to diversify retirement portfolio.

When opening a precious metals IRA, it’s essential that you work with a reputable company with an experienced team to guide the process from start to finish and comply with IRS regulations. Secure storage should also be offered; typically these depository companies include FideliTrade or Delaware Depository.

Tax Implications

Gold investments eligible for retirement savings accounts (IRA) can provide long-term stability to retirees looking to diversify their investments or hedge against currency depreciation. It should be noted, however, that opening and maintaining such an account requires fees such as setup costs, annual custodian fees, storage fees etc.

Investors should also keep in mind that not all precious metals qualify as eligible investments in an Individual Retirement Account (IRA). The IRS only approves of certain coins being added to an IRA, meeting minimum fineness levels (99.5%). Examples of approved coins include American Eagle coin and various bullion bars and rounds while non-approved coins include collectible coins such as South African Krugerrands or pre-1933 US silver.

When searching for a gold IRA provider, look for transparency and competitive pricing when making purchases. A reputable company should also offer impartial customer education without charging additional fees; Augusta Precious Metals provides such educational videos on gold and inflation as well as regularly updating its blog with articles covering current economic issues that impact retirement savings plans.


Precious metal IRA custodians are responsible for buying your precious metals and keeping them in an IRS-approved depository. They will guide you through the entire process and help select investments based on your goals, while explaining any restrictions or fees associated with precious metal IRAs.

The top IRA gold dealers provide competitive prices and offer buyback programs that allow you to sell back coins to them at competitive rates. In addition, these dealers should provide impartial customer education as well as outstanding levels of customer service.

Some dealers may have an established history of poor customer service, and you should avoid them. A reputable dealer will only sell gold coins that meet IRS purity standards – otherwise collectible gold won’t make an ideal addition to an IRA account. Furthermore, an IRA gold dealer should provide you with an authentication certificate as part of their service to protect their investment portfolio and your records.


If you invest in precious metals via a self-directed IRA, your custodian will work with a dealer to purchase and store the bullion at an IRS-approved depository. No purchase and storage by yourself would violate IRS regulations.

Dealers typically sell metals in different forms and shapes, such as bars, rounds or coins. Because the IRS has stringent guidelines regarding what can be included in an IRA account and how metals should be stored, it is vitally important that you partner with an established dealer who understands these regulations.

As an example, American Eagle bullion coins qualify for an IRA account while South African Krugerrands do not. Also, bullion bar products must be manufactured by a NYMEX or COMEX-approved refiner and storage fees may add up over time; additionally there may be one-time setup fees and annual costs charged by your custodian and depository.

Raymond Banks Administrator
Raymond Banks is a published author in the commodity world. He has written extensively about gold and silver investments, and his work has been featured in some of the most respected financial journals in the industry. Raymond\\\'s expertise in the commodities market is highly sought-after, and he regularly delivers presentations on behalf of various investment firms. He is also a regular guest on financial news programmes, where he offers his expert insights into the latest commodity trends.

Categorised in: