Precious Metals IRAs - Click here to Get Started
Great American Bullion offers our clients precious metal IRAs. Our experienced IRA Customer support team members can walk you through every step of the process.
Learn to Buy Precious Metals with your qualified retirement account or IRAs in 3 Simple Steps
A qualified retirement account can be one of the following:
- Traditional IRA, Roth IRA, SEP IRA, Simple IRA, or
- any of the following plans that were from a prior employer whether rolled over or not: Thrift Savings Plan (TSP), 457 Plan, 401K or 403B
- Other plans may qualify.
1. Open a Self Directed IRA Account
The first step to buying precious metals with your IRA is to open a “self directed” IRA. The process can be completed quickly, and our experienced IRA Customer support team can help you throughout this process. We also work with existing IRAs and most custodians.
2. Fund Your Self Directed IRA Account
Once you have opened your self-directed IRA account, the next step is to fund the account. If it is a new account, you will simply wire or transfer money to the custodian. If you are transferring or rolling over an IRA, we can walk you through the nuances involved.
3. Purchase Precious Metals from Great American Bullion
Once your account is funded, your custodian will notify us you have funds available and intend to use them to purchase precious metals from Great American Bullion. You are now ready to make your purchase. From this point, we work with you to select your IRA-eligible products and lock in pricing.
Why Choose a Precious Metals IRA?
Many clients choose a Precious Metals IRAs because they would like to own tangible assets rather than only owning paper assets.
Popular IRA Approved Gold
Traditional and ROTH IRAs allow precious metals buyers to put money into their IRA to be allocated in assets of their choice.
New vs. Existing IRAs
Self-directed IRA custodians are not only able to help set up new IRAs, but can also help you with a 401(k) rollover or transfer of existing assets. Make sure to be very careful when performing an IRA transfer or rollover, as if these transactions are not performed properly they can actually trigger a major tax event on your savings. Select IRA custodians are more than happy to help you with a transfer or rollover in the seamless and correct manner.*
More Precious Metals IRA FAQs
What precious metals products are NOT approved for IRAs?
To qualify as an IRA-approved product, precious metals must meet minimum fineness levels...
Can I rollover or transfer an existing IRA to a self-directed precious metals IRA?
Yes. Your self directed IRA custodian can help you arrange to rollover or transfer your existing IRA into a precious metals IRA. We are not able to help set up the actual IRA, but we can recommend custodians for you to speak with.
How long does it take to rollover an existing IRA/401k
This will vary based on which custodian you choose. If you are using New Direction Trust Company it can take 1-2 business days to open your account once they receive your application. After your account is set up you will then have to fund it which can take up to several weeks.
Once I receive my old 401k funds how long do I have to deposit them into my new precious metals IRA?
In the case of a 401k rollover, your funds are generally paid directly to you. Once you have the funds in your possession you have 60 days to transfer them into your new self-directed IRA account. If you do not do so within this 60 day period you may be required to pay taxes. In order to fully understand these rules we recommend talking to a tax advisor before transferring any IRA funds.
Am I allowed to have more than one IRA?
Yes, an individual is allowed to have more than one IRA account. However, your total yearly contribution will remain at the same maximum no matter how many IRAs you have.
How long after you ship my metals will they be in my account?
Once your order is placed and your funds have cleared our bank account, the metals will usually ship out from our facility within 1-5 business days. Depending on the carrier and the mail service, it can take an additional 1-5 business days to arrive at the depository.
Are my metals insured at the depository?
Once your precious metals arrive at the depository they will be fully insured. As an added protection, we also insure each mailing we ship out in the very rare occurrence that a package becomes lost or damaged.
How do I know my metals are actually there?
Most all depositories, including First State Depository, provide full accounting and reporting services to ensure your metals are safe and accounted for.
What sorts of tax benefits will I see by buying precious metals through an IRA?*
Many buyers and their tax advisers have seen significant tax savings when buying precious metals using an IRA. Please check with your financial adviser.
Are there any IRA contribution limits?
Yes, you may be subject to IRA contribution limits depending on your type of IRA and income levels. Please consult with your IRA custodian to learn of any contribution limits you may be subject to.
If I buy with an IRA, do I still receive the physical precious metals?
As part of the IRS’ rules regarding precious metals IRAs, we, as the dealer, MUST ship the products to an approved IRA depository, who then holds the metal until the time you are ready to liquidate the position.
Will I ever be able to take physical delivery of my metal?
Yes. You can liquidate or take possession of your metals at any time, however this is considered a distribution and there may be tax implications involved. We recommend speaking with a tax professional before making this decision.
Why would I buy in a self-directed precious metals IRA instead of buying an ETF like GLD?
We are not advisers or fiduciaries, many clients prefer self-directed precious metals IRAs because they are backed by real, physical, metal, vs. an ETF like GLD which is only backed by a pool of gold holdings and positions.
What are typical custodian and storage fees?
Fees vary depending on the size of your account and the metal holdings in your depository. Please contact either your IRA custodian or your depository of choice to learn more about fee structures.
Do you have a minimum IRA purchase?
We do have a $10,000 minimum order size for IRA Purchases. That being said, most IRA purchases will exceed this amount.
Do you charge commissions as the dealer for IRA precious metals purchases?
No. Our only part of the IRA contribution process is selling the actual metal to the custodian, which we do at our normal rates with no commissions or surcharges added.
Do I have to pay shipping on my IRA purchase?
IRA orders over $10,000 ship for free. All of the packages we send out include insurance and tracking as well at no additional cost. This means you will be able to track your package while it is on its way to the depository. Customers can rest easy knowing their metals are fully insured in the rare occurrence of loss or damage while the package is in transit.
* Great American Bullion is not a tax, investment, legal, or financial adviser, and does not act as a fiduciary.
** Our experienced team members will only answer process questions; they will not recommend a custodian, fill out paperwork, or act as an advisor on behalf of any client.
* By submitting the form above, you agree to Great American Bullion's Terms and Conditions & Privacy Policy and authorize Great American Bullion or someone acting on its behalf to contact you by email, SMS message, recorded phone call (including automated telephone technologies like auto-dialers and pre-recordings) for marketing and sales purposes. You are not required to opt in as a condition of purchasing any property, goods, or services. Message and Data rates may apply. Max. 7 msg/month. Reply with HELP for help or STOP to opt-out.The statements made on this website are opinions and past performance is no indication of future performance or returns. Precious metals, like all investments, carry risk. Gold, silver and platinum coins and bars may appreciate, depreciate or stay the same depending on a variety of factors. Great American Bullion cannot guarantee, and makes no representation that any metals purchased will appreciate at all or appreciate sufficiently to make customers a profit. The decision to purchase or sell precious metals, and which precious metals to purchase or sell are the customer’s decision alone, and purchases and sales should be made subject to the customer’s own research, prudence and judgement. Great American Bullion does not provide investment, legal, retirement planning, or tax advice. Individuals should consult with their investment, legal or tax professionals for such services.