Bullion bars and gold and silver rounds that are 99.9% fineness are allowed in a Best Gold IRA. This usually means that they must be produced by a NYMEX or COMEX approved refinery or by a national government mint. Most IRA custodians don't allow you to have gold in your IRAs, but with a Best Gold IRA, you can. As with silver, not all gold bars will qualify for a gold IRA, so it's important to do your research before investing. Approved gold investments must be included in a pre-approved list (as detailed above), be pure 24-carat gold ingots (1 ounce - 400 oz).
Read IRS publications 590-A & 590-B for more information. However, there are also some risks specific to investing in physical gold. Any physical item is subject to theft. Someone could enter the warehouse where their gold is stored.
However, to qualify for gold IRAs, depositories must be insured, which would protect their investment as long as their account does not exceed the value stated by the custodian in the accounts. The term gold IRA refers to a specialized individual retirement account (IRA) that allows investors to hold gold as a qualified retirement investment. Investors with gold IRA accounts can hold physical metals such as ingots or coins, as well as securities related to precious metals within the portfolio. A gold IRA must be kept separate from a traditional retirement account, although the rules involving aspects such as contribution limits and distributions remain the same.
Investors can open gold IRA accounts through a stockbroker or other custodian.
