Precious Metals IRA Frequently Asked Questions

Here are answers to common questions and a step-by-step guide to buying gold and silver with your IRA, 401(k) or other retirement account. Prefer to talk it through? Click Start your Precious Metals IRA and an IRA specialist will call you, or call 1-800-928-6468.

You will need a custodian for your new precious metals IRA. Our preferred custodians are Advanta IRA, New Direction Trust Company, Strata Trust Company and GoldStar Trust Company.  We can work with any IRA custodian that allows precious metals, including one you already use. The custodian opens your account, handles the transfer or rollover from your current IRA or 401(k), and maintains your account in the years ahead. We can answer most questions ourselves.

As your precious metals dealer, Austin Rare Coins & Bullion helps you plan your purchase, explains what you can own in your IRA, answers your precious metals questions, and facilitates every purchase and sale.

Step by step

1. Start with us. Fill out our short IRA form and an IRA specialist will call you, help you choose a custodian, and send you the link to open your account.
2. Read the guide. Download the Precious Metals Transaction Guide (PDF) for a full overview of how this type of IRA works.
3. Know the fees.

   Your first year of custodian fees is on us when you buy $25,000 or more on your initial transaction. We cover the setup and annual fees with a matching discount on your metals. Storage, transaction and wire fees aren’t included.

   Fees vary by custodian. As an example, here is New Direction Trust Company’s schedule:
   • $30 application fee
   • $95 transaction fee (per purchase or sale of metals)
   • $30 outgoing wire fee
   • $150 annual fee
   • Storage fees vary by storage provider and dollar amount stored.
   • Estimated first-year total: $305 plus storage. Estimated following years: $150 plus storage.

   Using New Direction as an example, our offer covers the $30 application fee and the $150 annual fee: $180 off your purchase when you buy $25,000 or more on your initial transaction.

   How does that compare with a gold ETF? Both cost money every year. A gold ETF charges an expense ratio that is taken from the value of your shares. For example, the largest gold ETF (GLD) charges 0.40% a year, which is $400 a year on $100,000. A physical metals IRA has flat custodian fees plus storage instead, so on larger balances it can cost less as a percentage, and you own the metal itself.

4. Allow a week or so. Opening the account, liquidating positions and transferring funds between custodians takes a little time, and we use it to answer your questions and plan your purchase with you.
5. All set. Your custodian lets us know when the account is funded, and we contact you to set up your purchase. We ship your metals to a secure depository of your choice. We work with DDSC in Delaware and IDS, which has depositories in Delaware and Dallas. It's that easy!

Should I do a transfer or a rollover?

Usually a direct transfer. The money moves straight from your current custodian to your new one, it never passes through your hands, and there’s no limit on how many you can do.

With a rollover, the money is paid to you first and you must deposit it into the new IRA within 60 days, or it’s treated as a taxable distribution. You can only do one IRA-to-IRA rollover in any 12-month period. When a 401(k) pays the money to you, 20% is withheld for taxes, and you have to make up that amount to roll over the full balance.

Moving money from a 401(k), 403(b) or TSP? Direct these and any tax questions to your new IRA custodian.

Where are the precious metals stored?

Your IRA’s metals can’t be held by you personally; they must be stored at an approved depository. You choose the depository, and we can work with whichever one you choose.

How much will the metals cost?

Don’t overpay. Custodian fees are small next to what you pay for the metals, and some IRA companies build large markups into the coins they sell. We price IRA metals at our everyday low bullion prices, posted live on our website, so you can check them before you buy. Browse gold and silver prices.

Which metals can I hold?

See IRA-eligible metals for the purity rules and examples, or browse the gold coins and silver coins allowed in an IRA.