Where to Buy IRA Approved Gold Bars

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Contributor, Benzinga
April 17, 2024

Many people have been forced to put their retirement plans on hold or forgo them totally because of rising living costs. Rising interest rates have also affected the valuation of retirement portfolios, as prices of some financial assets like stocks have been on the decline. 

Investing in bonds has become attractive to retirement portfolio managers given their rising yields. However, one overlooked investment vehicle holds great potential for retirement planning: IRA-approved gold bars. 

In this article, we will explore the best places to purchase IRA approved gold bars, as well as the criteria for selecting the right gold bars for your retirement account. By understanding where to buy IRA approved gold bars, you can make informed decisions and secure your financial future.

Best Places to Buy IRA Approved Gold

Compare some top gold brokers where you can start investing in IRA approved gold and diversifying your retirement portfolio.

1. Advantage Gold

Advantage Gold is an industry leader in precious metals IRA rollovers. It specializes in converting existing IRA and eligible 401(k)s into gold or other precious metals. Advantage Gold also educates clients on the best precious metals-backed investment options based on their unique financial conditions. So, it's easy to find an IRA that suits your needs.

Investors also have the option of having precious metals shipped directly to them or held as part of their retirement accounts. 

2. American Hartford Gold

Family-run American Hartford Gold offers its customers access to a variety of gold and silver coins. You have the option of taking delivery of your physical precious metals or setting up a gold IRA. Clients are eligible for three years of free storage with no IRA fees or up to $5,000 in free silver. 

The Los-Angeles based company has an A+ rating from the Better Business Bureau and a five-star customer satisfaction rating from review platforms like Trustpilot. 

3. Priority Gold

Priority Gold offers gold buyers a reputation for reliability, price transparency and good old-fashioned customer service. With gold (and silver) products, you can take advantage of the 4-Step setup for a precious metals IRA, if you so choose.

Use this platform to build a collection of precious metals, add to your portfolio and learn more about the markets at the same time. Pricing is reasonable, customer service is more than accessible and there’s even an unconditional precious metals buyback guarantee if you aren’t completely satisfied. 

True, platinum and palladium are not available, but there’s plenty of gold and silver to choose from. With insured and expedite shipping, you can add to your collection today.

4. Lear Capital

Lear Capital allows you to buy a range of gold products like gold IRAs, gold coins and international-grade bullion. The company helps to make your investment journey seamless by setting up your gold IRA for free. 

Storage fees are waived as you increase your investment. Spending $25,000 will waive your first year's storage fees, $50,000 will waive your second year's fees and spending over $75,000 waives even more. If in doubt about the best way to structure your portfolio, you can reach out to the team for investment tips and portfolio construction.

IRA-Approved Gold Bars

Though gold has long been considered a wealth-preservation asset, Individual Retirement Accounts (IRAs) can’t invest in all types of gold bars.

IRA-approved gold bars are gold bars that are deemed eligible to be used as investments in an IRA by the Internal Revenue Service (IRS). This eligibility depends on certain minimum requirements such as a 0.995% purity rate, storage in an approved depository and production by an accredited manufacturer, refiner, or assayer.

Some of the eligible IRA-approved gold bars include:

  • Credit Suisse Gold Bar
  • Johnson Matthey Gold Bar
  • Valcambi Gold CombiBar 
  • Argor-Heraeus Kinebar Gold Bar
  • Royal Canadian Mint Gold Bar

IRA-Approved Gold Products

Apart from gold bars, IRAs can hold other approved gold products, too, including:

  • Perth Mint Gold Lunar Rabbit Coins
  • American Gold Eagle Coins
  • Gold Maple Leaf Coin
  • Queen's Beasts Completer Gold Coin
  • Australian Kangaroo/Nugget Coins
  • Austrian Philharmonic Coins
  • Canadian Maple Leaf Coins
  • Chinese Panda

IRA-Approved Precious Metals

Gold is not the only precious metal that can be held in an IRA. Some IRAs hold select precious metals like silver, platinum and palladium which are approved by the IRS. These IRAs can be purchased from approved custodians and dealers.

Given the uncertain economic landscape (as seen by rising inflation and interest rates, plus the possibility of the economy slipping into a recession), investing in IRAs backed by precious metals can make a sound long-term investment. 

This investment choice offers a viable way of diversifying your retirement portfolio and hedging against risk, especially regarding long-term retirement planning.  But before investing in precious metals IRAs, it’s important that you conduct your due diligence.

Benefits of a Gold IRA

Several benefits come with investing in gold IRAs. Let's have a look at some of them. 

  • Diversification: Risk management is essential in developing a strong investment portfolio. When it comes to retirement planning, having assets that react differently to economic cycles is important. Gold IRAs make a viable addition to your portfolio mix because they often move in opposite directions to other assets like stocks, mutual funds and ETFs. 
  • Variety: Gold IRAs offer an opportunity to invest in gold and other precious metals without the hassles that come with transporting and storing physical gold. This benefit gives you the flexibility to structure your retirement portfolio with ease and make the most of your investments.
  • Tax benefits: Gold IRAs offer some of the same tax benefits as regular IRAs. Notably, traditional self-directed IRA (SDIRA) contributions are tax-deductible. Meanwhile, eligible withdrawals from Roth accounts are tax-free.
  • Long-term hold: Gold IRAs are not liquid, which makes them well-suited for retirement planning since you won't need to trade them until you retire. 
  • Greater control: Because gold IRAs are self-directed (managed by you and not a fund manager), you have greater control over your portfolio and can make decisions that suit your financial objectives. 

Considerations for Gold IRA Investors

Before you invest in a gold IRA, there are a couple of factors that you need to consider. 

  • Transparency: Knowing all of your expenses in advance might help you prevent unpleasant surprises after you invest. That requirement makes transparency one of the most important factors you should consider when choosing a gold IRA. 
  • Track record: You want to look for a company with a solid reputation from reliable reviewers, such as the Better Business Bureau or the Business Consumer Alliance. Investigating customer reviews, particularly the volume of complaints made, may also be beneficial. 
  • Qualifications: Only deal with a company that has current licenses, registrations and insurance. Before committing your investment, ask for verification of IRS approval and other relevant information.
  • Custodian fees: Most gold IRAs state that they charge no management fees. But there could be a catch, as some charge custodian fees instead. Verify how much you would need to pay for all types of fees, especially if you are transferring your account from another financial institution.
  • Storage fees: Gold must be kept in a licensed storage facility that charges storage fees. Accounting for storage fees is crucial to calculating how much your total investment would cost over time, and if it is a good option for you. 

Frequently Asked Questions


Can I take physical possession of gold in my IRA?


Yes, you can take physical possession of gold in your IRA.


What precious metals are IRA eligible?


Precious metals that are IRA eligible are gold, silver, platinum and palladium.