Yes, Fidelity customers can buy certain precious metals in an IRA. You must store the gold in a gold IRA in an IRS-approved depot. You can’t store it in a safe, a house safe, or under your mattress. While most IRA investors invest in more traditional assets such as stocks, bonds, and funds, the tax code allows investments in precious metals such as gold and silver through specialized IRA accounts. The company’s flagship gold investment fund, Fidelity Select Gold Portfolio (FSAGX), allocates around 80% of its capital to companies involved in the gold business, with up to 25% of its capital flowing directly into gold and other precious metals.
Augusta’s two major drawbacks are its limited selection of metals and the high minimum investment requirements for setting up a gold IRA. Gold has proven to be a source of steady and stable growth compared to the more volatile stock market, which is why more and more retirement investors are turning to gold IRAs. No other Gold IRA company goes to such lengths to present investment information in an organized and objective way to earn the full trust of its customers. In addition, the IRS only allows certain gold coins, such as the American Gold Eagle or the Canadian Maple Leaf.
A gold IRA is a great way to start your retirement savings, and with Fidelity, you can invest in gold, silver, platinum, and palladium bars. The gold must be purchased and transferred to the custodian bank in such a way that the custodian bank can take care of it. Therefore, investors must work with a reliable and reputable Gold IRA company to facilitate the process. The IRS has set guidelines for metal fineness standards to determine whether gold or silver in the form of gold bars or coins is acceptable for a gold IRA. The job of a gold IRA company is to make it easier to set up the IRA and buy the gold coins or gold bars.
We’ve researched 18 reputable companies that offer Gold IRA services and searched them for the highest consumer ratings from the Business Consumer Alliance (BCA). Many Gold IRA companies work with a custodian, and either the custodian or the Gold IRA company may select a custodian bank. Advantage Gold has made a name for itself as the best gold IRA company for first-time buyers with its low minimum investment requirements, convenient customer support, and comprehensive education platform. The experts at Birch Gold Group give you simple, step-by-step instructions on how to convert an existing retirement account into a precious metals IRA.
