Dear Birch Gold Group,
Most of my IRA is in mutual funds and bonds, but I want to start diversifying with precious metals. How do I buy gold with my IRA?
Thank you for the question. Adding gold to your IRA is a great way to diversify your assets and avoid the risks of putting all your eggs in one “paper basket.” Plus, gold can help to protect your retirement savings from other threats, like the declining dollar and inflation, which are becoming greater concerns by the day.
The easiest way to buy gold with an existing IRA is to roll over the funds into a new Precious Metals IRA. This will allow you to purchase gold with your existing retirement savings, while also retaining the ability to use funds for other asset types, such as mutual funds. So, whether your plan is to buy gold IRA coins, bars or a variety of different precious metals, such as silver, platinum and palladium, opening a Precious Metals IRA is the first step.
The process of opening your new gold IRA is easy. Birch Gold Group can assist you with each step, and it typically only takes as little as 7-10 business days for your funds to be rolled over, depending on the speed of your current IRA custodian.
Once funds are available in your new account, you can choose from a variety of options to be added to your account. Our Precious Metals IRA Specialists can help you with this step as well, but for now, here’s one key requirement that’s useful to remember: To be eligible for placement in an IRA, gold must have a minimum fineness of 0.995 (with the exception of the American Gold Eagle bullion and proof coins). So, for example, the South African Krugerrand, although highly collectible, is not eligible for IRAs because it has a lower fineness of 0.9167.
But there are several other coins that can be added to your new IRA, so be sure to give us a call and our specials will go over all your options in greater detail.
Thanks for the great question, Tom!
Do you have a question about how to invest in precious metals? Want to know more about how to set up a Precious Metals IRA, or what types of coins are available to you? Send an email to [email protected] and we may answer it in a future post on our site.