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That’s a great thread, well explained too. Thanks for that
No, you cannot store your precious metals at home. It needs to be held in a US depository, the McNulty case made that pretty clear. In this case, a couple fought the IRS about storing their gold IRA at home and they lost.
Yes, you can, it’s called a rollover and most gold IRA companies will assist you in the process. You can rollover a Roth or traditional IRA, a 401(k) or any type of retirement plan. It means you transfer the funds from your existing IRA to your new self-directed gold IRA account. If done right, it’s penalty-free.
Hi Erika, apologies for not replying to you sooner. It really depends on how much you want to invest. Goldco has a lower minimum amount of $25,000, with Augusta I believe it’s $50,000. Regarding the fees, Augusta is a bit better. I also like the fact that they work with trusted US depositories. They recommend a Delaware depository; however, they work with many across the country.
I also know their preferred custodian is Equity Trust, which is great but not cheap.
If you’re savvy investor, go with Augusta, if you’re a beginner and it’s your first precious metals IRA investment, Goldco is great.Hey Stephen, thanks. Unfortunately, I can’t tell you if the price of gold will go up or down, nobody can. I think long term and I diversify as much as I can. I went the self-directed IRA route because I want to be in control of what I invest in, I definitely have some silver and I think it’s undervalued. None of this is financial advice of course, you must do your own research.
