Below are the questions we hear every week, set down in the order a careful client tends to ask them. Each answer is written the way we would give it on the phone — without the scripts, without the superlatives, without the rush. If a question you care about isn't here, dial the Desk and ask it. We'll add the answer to the ledger.

Rollovers, custodians, purity thresholds, and the rules that actually govern a precious metals IRA — in the order most people ask about them.

What is a gold IRA?

A gold IRA is a self-directed Individual Retirement Account that holds physical gold and other approved precious metals instead of only stocks, bonds, or mutual funds. People usually use it for balance and long-term exposure to tangible assets inside a retirement account.

How do I open a gold IRA?

Opening a gold IRA takes four steps: 1) Pick an IRS-approved custodian who handles precious metals IRAs, 2) Fill out the account paperwork and fund your account through a transfer, rollover, or new money, 3) Choose IRS-approved gold products (minimum .995 fineness for gold bars, certain coins allowed), and 4) Set up safe storage at an IRS-approved depository. The whole process typically takes 2-3 weeks.

What types of gold can I hold in a gold IRA?

IRS rules require gold held in IRAs to meet a minimum purity of .995 (99.5% pure). Allowed gold includes: American Gold Eagle coins (any size), Canadian Gold Maple Leaf coins, Austrian Gold Philharmonic coins, gold bars and rounds from approved refiners (PAMP Suisse, Credit Suisse, Johnson Matthey, etc.), and certain other government-minted coins. Collectible coins and jewelry are not allowed.

What is IRA-approved silver?

IRA-approved silver must meet a minimum purity of .999 fine (99.9% pure). Approved silver products include: American Silver Eagle coins (any year — Eagles qualify even though they're .999 rather than a higher fine), Canadian Silver Maple Leaf coins, Austrian Silver Philharmonic coins, silver bars from LBMA-approved refiners such as PAMP Suisse, Engelhard, and Johnson Matthey, and certain other government-minted bullion coins. Silver rounds from private mints and collectible or numismatic silver coins are generally not IRA-eligible. All silver you place in a Gold IRA must be stored at an IRS-approved depository — not at home.

Can I roll over my 401(k) into a gold IRA?

Yes, you can roll over funds from a 401(k), 403(b), TSP, or traditional IRA into a gold IRA without tax penalties if done right. For current employer 401(k)s, you typically need to leave your job first. Former employer 401(k)s can be rolled over at any time. The rollover must be finished within 60 days for indirect rollovers, or you can use a direct trustee-to-trustee transfer to skip this deadline.

What are the costs of a gold IRA?

Gold IRAs typically carry three main costs: 1) Setup charges ($50-$300 one-time), 2) Yearly custodian charges ($75-$300 per year for account upkeep), and 3) Storage charges ($100-$300 per year for segregated storage at an IRS-approved depository). Some custodians also charge a per-trade amount for buying or selling metals. Total yearly costs typically run $200-$600 depending on account size and custodian.

Where is my gold stored in a gold IRA?

Gold held in an IRA must be stored at an IRS-approved depository, not at home or in a personal safe. These depositories are highly secure facilities with insurance, 24/7 monitoring, and vault security. You can choose between segregated storage (your metals stored separately) or commingled storage (your metals stored with others but still individually accounted for). Most investors prefer segregated storage for peace of mind.

Can I take physical possession of my gold IRA assets?

While your gold must stay in IRS-approved storage during your working years, you can take physical hold of it when you take a distribution from your IRA (typically after age 59½). You can choose to get your gold shipped to you or sell the gold and get cash. Taking hold before age 59½ counts as an early distribution and brings taxes plus a 10% penalty.

What are the contribution limits for a gold IRA?

Gold IRAs follow the same IRS limits as traditional and Roth IRAs. For 2024-2025, you can put in up to $7,000 per year if under age 50, or $8,000 if age 50 or older (with a $1,000 catch-up amount). These limits apply to your total IRA additions across all accounts, not per account. Rollovers from 401(k)s or other retirement accounts don't count against these yearly limits.

Are gold IRA gains taxable?

Traditional gold IRAs grow tax-deferred, meaning you don't pay taxes on gains while the metal stays in the account. You pay ordinary income tax on withdrawals in retirement. Roth gold IRAs are funded with after-tax dollars, but qualified withdrawals (after age 59½ and account open 5+ years) are fully tax-free. Gold held in IRAs isn't hit with the higher collectibles tax rate that applies to physical gold held outside retirement accounts.

Where the metal lives, who guards it, how the insurance works, and what a segregated line in a depository register actually means.

What is segregated storage for precious metals?

Segregated storage means your specific gold and silver coins and bars are kept apart from other investors' metals in a set area or vault. Your metals are tracked one by one, listed, and checked. This gives you the highest level of proof and makes sure you get your exact metals back when you take a withdrawal. Segregated storage typically costs $100-$200 more per year than commingled storage.

What is allocated storage versus unallocated storage?

Allocated storage means you own specific, named gold bars or coins that are set aside and tied to you. Unallocated storage means you own a weight of gold but not specific bars — like a bank account balance. Allocated storage gives you ownership of real metal, no counterparty risk, and your specific pieces are always there. Unallocated storage costs less but carries counterparty risk and may not have your metals on hand during a crisis.

Which depositories are IRS-approved for gold IRA storage?

Major IRS-approved depositories include: Delaware Depository (Wilmington, DE), Brink's Global Services (multiple locations), International Depository Services (IDS - Delaware), Texas Precious Metals Depository (Leander, TX), and CNT Depository (Bridgewater, MA). These facilities meet IRS requirements for security, insurance, and auditing. Your custodian will typically have relationships with multiple depositories, giving you choice of location and provider.

How secure are precious metals depositories?

IRS-approved depositories use bank-vault-grade safeguards: 24/7 armed guards and video watch, fingerprint and eye-scan locks, motion sensors and alarms, reinforced concrete vaults with layered barriers, Class III vault doors built to withstand force, insurance (typically $1 billion+ per site), and regular outside audits. These vaults are safer than bank safe deposit boxes and far safer than keeping gold at home.

Is my gold insured while stored at a depository?

Yes, IRS-approved depositories carry full insurance covering theft, damage, natural disasters, and other losses. Most vaults hold $1 billion or more in coverage through Lloyd's of London and other major underwriters. Your gold is insured at full replacement worth while stored, during shipping, and during any transfers. This insurance is built into your storage charges — you don't pay anything extra.

Can I store my IRA gold at home?

No, IRS rules flatly bar storing IRA gold at home or in a personal safe deposit box. This counts as "self-dealing" and would force your whole IRA to be treated as cashed out, bringing swift taxes and penalties. Some outfits push "home storage IRAs" or "checkbook control IRAs" but these setups break IRS rules and bring real legal and tax risk. Always use an IRS-approved depository.

How do I verify my gold is actually at the depository?

Good depositories give you several ways to check: 1) Yearly statements showing your specific holdings by serial number (for segregated storage), 2) Outside audit reports (typically yearly), 3) Online account access to see your holdings in real time, and 4) The right to ask for a hands-on look or audit (though few do). Your custodian is bound by law to confirm your holdings exist and are properly stored.

What happens to my gold if the depository goes bankrupt?

Your gold is your property, not the depository's asset, so it's shielded in a bankruptcy. Precious metals in segregated or allocated storage sit outside the depository's books and can't be grabbed by creditors. Your metals would be moved to another depository or sent back to you. This is a world apart from bank deposits (which are the bank's debt to you) or unallocated storage where you stand in line as an unsecured creditor.

Horizon, allocation, and the thinking that belongs on paper before any metal changes hands. The long view doesn't rush.

Why invest in physical gold?

Physical gold broadens your holdings, shields against inflation, hedges the dollar, and acts as crisis insurance. Unlike paper assets, gold has built-in worth and has kept wealth whole for over 5,000 years. During hard times, stock market swings, or dollar weakness, gold typically holds or grows its buying power. Owning the real metal wipes out the counterparty risk that comes with gold ETFs, mining stocks, or gold certificates.

How much of my portfolio should be in gold?

Most experts suggest putting 5-15% of a well-rounded set of holdings into precious metals, with gold as the main piece. Careful investors might hold 5-10%, while those wanting stronger shielding against inflation or hard times might set aside 10-20%. The right split depends on your age, how much risk you can bear, your time horizon, and your read on the economy. Gold works as wealth insurance, not a growth play.

What is the difference between gold bars and gold coins for investment?

Gold bars typically carry lower premiums over spot price (1-5% vs 3-8% for coins), making them a better deal for bigger buys. However, coins give you more room for partial sales, are easier to verify, and certain government coins like American Eagles qualify for IRA use. Bars are best for getting the most gold per dollar, while coins are easier to sell and break into smaller amounts. Many investors hold both.

When is the best time to buy gold?

Rather than timing the market, most experts suggest dollar-cost averaging — putting in fixed amounts at steady intervals no matter the price. Gold does best during: inflation, dollar weakness, stock market drops, world turmoil, and when real interest rates go negative. But gold's job is wealth shielding, not guesswork. Focus on keeping your buying power over the long run rather than chasing short-term price swings.

How does gold perform during economic downturns?

Gold has done well in hard times, acting as a safe harbor. During the 2008 crash, gold rose 25% while the S&P 500 fell 37%. During the 1970s stagflation, gold climbed 1,400% while stocks went nowhere. Gold tends to move against stocks and the dollar, giving your holdings balance when markets buckle. However, gold pays no dividends or interest, so it's best held as long-term wealth insurance.

What are the tax implications of selling gold?

Physical gold held for investment is classed as a "collectible" by the IRS and taxed at up to 28% on long-term gains (vs 20% for stocks) when held over one year. Short-term gains (under one year) are taxed as ordinary income. Gold in traditional IRAs grows tax-deferred and withdrawals are taxed as ordinary income. Roth IRA gold withdrawals can be fully tax-free if qualified. Timing your sales wisely can cut the tax hit.

Should I buy gold mining stocks instead of physical gold?

Gold mining stocks and physical gold serve different ends. Mining stocks offer leverage to gold prices and can gain 2-3x more than gold during bull runs, plus they pay dividends. But they carry business risks (management, costs, mishaps), move more like stocks than gold, and can fall even when gold rises. Physical gold gives you direct ownership, no counterparty risk, and pure wealth insurance. Many investors hold both for a balanced stance.

What is the spot price of gold?

The spot price is the current market price for one troy ounce of pure gold (.9999 fine), delivered right away. It's set by worldwide trading on markets like COMEX and LBMA and shifts throughout trading hours. When buying physical gold, you pay a premium above spot (typically 2-8%) to cover minting, shipping, and dealer costs. The spot price is the starting point for every gold deal on earth.

If the question on your mind isn't above, write it down and send it in — or dial the Desk. We answer in plain language, we put the numbers on paper, and the answer you receive is the answer we stand behind. Start a conversation here.