Opening Your Precious Metals IRA

What is a Precious Metals IRA?

An Individual Retirement Account (IRA) is a long-term investment account that helps investors plan for their financial future. Contributions to your IRA may be either tax-deductible or tax-deferred. With a self-directed precious metals IRA, you can choose the bullion products that fit your needs and store these coins and bars with a licensed IRA custodian. Hero Bullion works with investors to build their retirement investment portfolios with gold, silver, and other precious metals.

How it works

1

Open a Self-Directed IRA

To open an IRA, you'll need to find a custodian. In order to add precious metals to your Individual Retirement Account, you’ll need to find a custodian who allows for self-directed investment strategies.

2

Fund your Custodial Account

The next step is to add funds to your account. When you do business with a licensed bullion dealer, your custodian will confirm that you have enough funds to cover your qualified purchases.

3

Shop Qualified Precious Metals

Finally, it’s time to fill your account with precious metals. Remember: not all bullion products are IRA-eligible. Our experienced experts can help you find the right qualified precious metals for your growing IRA.

Offering you the highest quality bullion products from the world’s finest mints.

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Frequently Asked Questions - Your Precious Metals IRA

  • Can I have precious metals in my IRA?

    Yes! Precious metals can be included in a self-directed precious metals Individual Retirement Account. In order to add metals to your retirement savings account, you’ll need to designate a custodian who accepts self-directed gold, silver, and other precious metal investments.

  • What is a self-directed IRA?

    Self-directed Individual Retirement Accounts allow investors more flexibility when choosing the types of investments that they can add to their portfolio. Self-directed IRAs are necessary if you want to invest in precious metals through your IRA.

  • What is an IRA custodian?

    An IRA custodian is a financial institution or qualified individual who holds and manages the assets in your retirement account. In the case of a self-directed precious metals IRA, your custodian is responsible for holding and managing the precious metals you add to your account. For a precious metals IRA, you’ll need to find a custodian that allows for self-directed gold or precious metals IRAs.

  • How do I pick a custodian for my precious metals IRA?

    There are many custodians who will help you open a precious metals IRA. We’re happy to help you find one that works for your specific retirement planning needs. Please contact customer support or fill out the form at the bottom of this page for advice.

  • Can I store IRA precious metals at home?

    No. When you open your precious metals IRA account, you’ll designate a custodian responsible for storing your gold, silver, and platinum investments. According to the IRS, investors are not allowed to store IRA investments themselves.

  • What products are IRA eligible?

    In order to be IRA eligible, bullion products need to meet certain purity requirements. Gold products need to be at least 99.5% pure, silver needs to be 99.9% pure, and both platinum and palladium have purity requirements of 99.95%. U.S. gold coins like the American Gold Eagle are the only exception to this rule, since they are produced by the United States Mint.

  • Do I actually own the gold in a precious metals IRA?

    You do own the precious metals in your gold IRA, but you are not allowed to physically possess them yourself. You are entitled to the profits as your precious metals gain value and you withdraw from your account. However, it is not legal for IRA investors to physically possess their gold, silver, platinum, or palladium investments.

  • Are silver rounds IRA eligible?

    Silver rounds can be IRA eligible if they are produced by an approved mint or refiner. These products still need to meet the minimum purity requirement set by the IRS, which is 99.9%.

  • Can I choose the precious metals for my IRA?

    Absolutely. Once you designate a custodian who allows for self-directed investments, you can choose whichever qualified bullion products you prefer for your IRA portfolio. We recommend leaning on the advice of qualified bullion dealers like Hero Bullion to help you pick the best products for your portfolio.

  • Are precious metals IRAs tax-free?

    Taxes on a precious metals IRA work similarly to traditional IRAs. A traditional gold IRA offers tax-deferred growth, which means contributions are made pre-tax and taxes are only paid upon withdrawal. By contrast, Roth gold IRA contributions are made post-tax, and withdrawals are not taxed. 

Send Us a Message!

If you have any questions for us about IRA products or how IRA orders are handled, please send us a message using this form. We typically reply by the next business day.

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