Charles Schwab Gold IRAs


 

Founded in 1971, Charles Schwab has been a US financial stalworth for the last 50-years. The company’s 32,000 employees and 360 branches have helped millions of customers manage and invest their wealth over the years.

What does Schwab do?

Charles Schwab is a full-service financial institution that offers its clients brokerage services, wealth management, and retirement planning, all in one place. As the third-largest asset manager in the world, Schwab services both retail and institutional clients.

Commonly Asked Questions

Does Schwab offer gold and other precious metals as investment options?

Charles Schwab doesn’t offer gold, silver, or any other physical precious metals directly to its customers.

Can I buy physical coins and bars through Schwab?

No, you cannot purchase physical gold coins or bars through Charles Schwab.

Does Schwab offer precious metals in IRAs?

No. Because Schwab doesn’t allow for the direct purchase of precious metals, its clients cannot have precious metals directly inside their IRA.  You won’t be able to own physical coins or bars through Charles Schwab.

Can I rollover a Schwab 401(k) into a Gold IRA?

piggy bank on gold barYes. As previously mentioned, Charles Schwab doesn’t offer precious metals directly in their retirement accounts. However, if you are a Schwab customer, you can rollover your 401(k) or IRA to a Gold IRA and begin purchasing gold outright. To enable gold purchases, a 401(k) must first be moved to a Self-Directed IRA (SDIRA), which allows for precious metals holdings in the retirement account.

Birch Gold and its team of qualified experts can help you get started with your Schwab 401(k) or IRA rollover.

What’s on offer?

Charles Schwab offers a variety of traditional assets.  Each of the assets provided by Charles Schwab may differ in their levels of risk.  Your individual financial circumstances and proximity to retirement are important to consider when deciding what assets make the most sense for saving for your retirement.  Typically people will invest in a variety of different types of assets, creating a mix of assets suitable to their needs and expectations.

What’s a Gold Futures Contract?

Outside of traditional gold derivatives, Charles Schwab also offers gold futures contracts. The buyer of a gold futures contract agrees to take delivery of some quantity of the precious metal at an agreed-upon future date and time, at a pre-set price. These are usually used by gold companies to hedge against volatility in gold prices and can also be utilized by investors looking to profit from future price movements in the gold market without ever touching a gold bar or coin.

Through Schwab, gold futures can be traded on both the COMEX division of the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE). Futures come in three contract sizes: 32.15, 50, and 100 troy ounces. Gold futures are also traded continuously, 23 hours per day on each trading day.

However, you have to show up at the COMEX warehouse to take physical delivery of a gold futures contract. While that is certainly a method to physically get your gold, it’s a real hassle compared to purchasing physical gold in an SDIRA.

Exchange COMEX
Contract Size 100 troy ounces
Minimum Tick Size and Value 0.10, worth $10.00 per contract.
Trading Times Gold futures trade from 6:00 p.m. U.S. ET until 5:00 p.m. U.S. ET, Sunday through Friday, with a 60-minute break each day beginning at 5:00 p.m. U.S. ET.
Principal Trading Months Primary gold futures contracts are February, April, June, August, October, and December.

Source: https://www.schwab.com/futures/gold

What does Schwab charge for its gold offerings?

Charles Schwab doesn’t charge any account fees for all its standard account types and has no required minimum balance.

The fees for Charles Schwab depend on whether or not you are utilizing a Schwab broker or placing the trades on your own. Trading online comes with significantly lower fees, and basic financial instruments can be traded at no cost.

As always, remember to read the fine print when it comes to broker fees. Learn more about the Charles Schwab account and trading fees here.