How To Buy Physical Gold
Decide first whether you want personal ownership or IRA ownership. Then compare the actual product, dealer economics, delivery or storage arrangement and likely resale process.
Key Takeaways
- Verify tax and custody rules using primary sources before moving retirement assets.
- Compare total costs, including dealer transaction economics, not just the annual account fee.
- Know the storage and liquidation process before authorizing a precious-metals purchase.
Decide The Ownership Goal First
Clarify whether the purchase is for personal possession, long-term storage outside an IRA or ownership through a retirement account. The correct process changes with the ownership structure.
Compare Identical Products
When evaluating dealers, request prices for the same weight, mint/refiner and product type. Otherwise apparent price differences may simply reflect different products.
Understand The Spread
Ask what the dealer would pay to repurchase the same product at the time of your purchase. That gives a clearer view of transaction friction than the purchase price alone.
Plan Secure Storage
Personal owners must make their own security and insurance decisions. IRA-owned bullion instead follows the account's applicable custody requirements.
Product Eligibility Is Specific
The IRS generally treats metals and coins as collectibles but provides exceptions for specified coins and certain qualifying bullion. Do not assume that every gold or silver product is suitable for an IRA.
Price Is More Than Spot
Physical metal is commonly bought above a reference market price and sold under different dealer terms. Premiums and spreads can materially affect the economics of entering and exiting a position.
Storage Depends On Ownership
Personally owned metal and IRA-owned bullion are different structures. IRS guidance states that qualifying IRA bullion must be in the physical possession of a bank or an approved nonbank trustee.
Plan The Exit Before The Purchase
Before buying, understand how the asset can be sold or distributed, how a dealer's buyback process works, and which costs could apply. Convenience is useful, but it is not the same as a guaranteed resale price.
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- Gold Vs Silver
- Gold IRA Vs Physical Gold
- Gold IRA Vs Gold ETF
- Gold Coins Vs Gold Bars
- Dealer Fees And Spreads
Primary Sources
- IRS: IRA FAQs And Precious-Metals Rules
- IRS: Rollovers Of Retirement Plan And IRA Distributions
- IRS Publication 590-A