Buying Physical Gold in IRA – Is It Possible?

Buying Physical Gold in IRAIf you are wondering whether it is possible to be buying physical gold in IRA, the answer is yes. Buying physical gold in IRA in the form of gold bullions of various sizes became legally acceptable starting in 1997. Actually, buying physical gold bars and coins is a fantastic way to diversify your retirement portfolio beyond regular stocks, bonds and mutual funds.

When considering buying physical gold in IRA, it’s important to know that not any gold bullion coins or bars are allowed to be bought with your IRA funds. You are only allowed to be buying gold bullion bars of 24 karat purity, as to coins, you are limited to purely 24 karat coins, except 22 karat American Gold Eagle coin that is IRA approved. Gold bullion bars are IRA approved if they meet the following weight requirements: 1, 10, 100, 400 oz and one kilogram. All your IRA gold investment purchases must come from approved mints or refineries.

How does anyone start buying physical gold in IRA? The first step should be calling your IRA custodian and finding out whether they can help you convert your existing investments into precious metals bars and coins. Not all IRA custodians offer this option. In this case, you should definitely do your research to find a reputable gold bullion trust that offer IRA based precious metals investments. There are a number of really strong well known gold trusts to consider like USA Gold, CMI Gold & Silver, Gold Star, APMEX and many more. Once you decide which gold trust you like, give them a call to arrange for a full or a partial IRA rollover from bonds or stocks investments into IRA approved gold bullion bars or coins.

When buying physical gold in IRA, just remember to keep no more than 5-10% invested into physical gold. If you would like to consider alternative gold investments like gold stocks or gold bonds investment, also keep them under 5% to provide a safe diversification from the volatility of the stock market.