Best IRA Gold Depository

Gold is a popular inflation hedge that many investors have included in their retirement savings. The gold in your individual retirement account (IRA) needs to be stored in an IRS-approved depository, ensuring the highest level of security.

Besides security, investors are concerned about the fees to store gold. Benzinga discovered the top five IRA gold companies and examined their security and fees. This guide also provides details about how to open a gold IRA and the key factors to examine, as well as the advantages of saving gold for retirement.   

Best IRA Gold Companies

The best IRA gold companies offer a variety of gold coins, high security and affordable fees. Benzinga found five such companies and analyzed their offerings.

1. Advantage Gold

Advantage Gold specializes in rolling over your existing IRA or eligible 401(k) into a gold IRA. It prides itself on providing consultants who educate clients about available options and assist in making the most suitable investment.

Advantage Gold offers 13 gold coins and a buy-back service if you want to liquidate your metals. It usually offers a fair market value for the gold but, at the very least, the spot price. The funds should be transferred to you within 24 hours. Alternatively, you can receive your distribution in the gold coins you invested in.

Your gold is stored at Brink’s Global Services USA and the Delaware Depository. Advantage Gold works with STRATA Trust Company and Equity Trust Company to provide you with the best IRA custodians.

2. Augusta Precious Metals

Augusta Precious Metals have proven to provide a high level of service to customers, which is evident by the numerous five-star ratings. It provides free shipping and transit insurance to the depository storage facility.

The key difference of this dealer’s offering is that it doesn’t use a government storage facility for your gold and enables you to choose a private facility. But it recommends the Delaware Depository. It makes several facilities across the U.S. available, including Los Angeles, California; Dallas, Texas; New York, New York; and South Fargo, North Dakota.

The private storage facilities provide all-risk insurance via London underwriters for the gold available from Augusta Precious Metals — American Eagle, American Buffalo, Canadian Maple Leaf, Gold Canadian Eagle, American Eagle Proofs and Australian Striped Marlin.

3. American Hartford Gold

American Hartford Gold is a precious metals company recommended by Bill O’Reilly and ranked the number one gold company by Inc. 5000’s 2021 list of America’s fastest-growing private companies.

It offers 14 IRA-approved gold coins and several others for purchase. American Hartford Gold lets you choose an approved depository, but it prefers to work with Brinks Global Services and Delaware Depository. 

The depository storage fees vary based on the account size and metal holdings, but it is possible to receive free storage. This dealer offers a buyback commitment, which doesn’t involve additional liquidation fees and is a simple three-step process.   

American Hartford Gold doesn’t have a specific minimum order size and provides free shipping, insurance and tracking.

4. Lear Capital

Lear Capital offers a wide range of gold coins and free IRA setup and storage. The duration of the free storage depends on the amount invested, with a minimum of $25,000. It offers a price match guarantee, providing you with 24 hours after issuing an invoice to find a dealer with a better price.

If you find gold at a lower price, Lear Capital will beat or match that price. It also offers a 24-hour risk-free purchase guarantee. That enables you to cancel an order within 24 hours without incurring any costs. Lear Capital stores your gold at the Delaware Depository, offering a comprehensive insurance policy underwritten by Lloyds of London. 

The dealer charges a once-off setup and maintenance payment of $280. After the first year, you pay $200 annually for storage, insurance, quarterly financial statements and 24/7 access to an online account. 

5. Red Rock Secured

Red Rock Secured offers depository storage insured by Lloyds of London and uses Kingdom Trust as a custodian to administer your IRA. It offers unique coins such as the Sovereign coin, Red-Tailed Hawk and Canadian Red-Tailed Hawk.

For more than a decade, Red Rock Secured has provided satisfactory service to many customers. A significant portion of its client base has qualified for zero fees. Red Rock Secured offers price protection for qualified gold, paying you the difference if the price decreases.

How to Open a Precious Metal IRA

Contact a gold IRA dealer and speak to an expert who will discuss the different investing options. The expert will advise you about the best option suitable for your investing goals and then open an IRA account within 24 hours.

If you would like a rollover or a transfer from a Traditional IRA, the expert contacts your current custodian and arranges it within five business days without you incurring taxes or penalties.

You buy gold that you’d like to invest in through the dealer, and it transfers your precious metals to a depository.  

What to Look for in a Custodian

Protecting your retirement savings requires you to examine several aspects of a gold IRA custodian.

Accessibility and security: A gold IRA custodian should provide you with access to your physical gold during business hours. You should also have access to an online account to monitor your holdings. 

The custodian needs to offer top-notch security to ensure your gold’s safety. It should offer insurance storage that protects your gold against theft and damages.

Performance history: The best way to find out the kind of service you can expect to receive from a custodian is by looking at customer reviews. The custodian should have a history of providing customer satisfaction.

Fees: High fees lower your returns and magnify your losses. The custodian’s fees should be reasonable and transparent. Some custodians provide free storage for qualified investment amounts.

Minimum account balances: Certain custodians require you to own a specific amount of gold coins. You need to be certain that you can meet that threshold before doing a rollover.

Advantages of Precious Metals in Retirement Accounts

Having a gold IRA offers you several benefits for retirement.

Hedge: Gold has proven to be a hedge against inflation and has an inverse price relationship to the dollar — gold’s price tends to increase when the dollar loses value. Gold’s price increased at the start of the Russian-Ukrainian conflict.

Tax benefits: A gold IRA is tax-deferred, meaning you pay tax on withdrawals. The contributions are tax-deductible. A Roth account provides tax-free withdrawals.

Control: A gold IRA is a self-directed account, providing you with control to buy the coins you desire and to sell them whenever you want.

Frequently Asked Questions