I decided to jump into a gold mine. Now I have to decide where and what form of gold my IRA is going to buy. Due to the popularity of gold, it can be hard to find reliable information online. There are a few independent advisors. But not many. And unlike many gold brokers/dealers, they are not loud. However, I have some basic knowledge and will be able to make an informed decision from this list. You can see gold eagle ira for more information.
Investment options in Gold IRA
Bullion Bars- These bars are physical, gold bars and can cost as much as ten grand depending on the gold price. My IRA is buying gold so I won’t see it or hold it. But, the physicality a bar actually holds a lot weight in my mind (pun intended).
Coins – These coins are a tangible physical entity. However only a few types of gold can be kept in an IRA. They can’t be considered collectibles and don’t require to be authenticated. More information can be found online about gold coins – however, it is important to ensure that they are not rare or collectors if they are going to be kept in an IRA.
Gold Exchange-Trade Funds (derivatives that track up and down the gold ounce price) No matter how simple it may sound, I will not buy any derivatives from my IRA.
Gold certificates – basically a document proving your IRA has X quantity of bullion.
Mining Company Stock/Gold Mutual Funds. It’s self-explanatory. I don’t like to play with stocks at the moment, regardless of what company they are.
There are other options, such as e-gold (or digital gold). They are, to me, the same thing as bullion, since that’s where my IRA money is going.
I’m directing my IRA for gold as insurance. It is essentially a diversification strategy to spread potential losses across multiple investment types. I don’t need to pay for storage or transport of bars or coins. I don’t want stock and will not buy, trade or store anything derived from it. I want the process to be easy and straightforward. I want to trade anywhere, anytime. Online gold trading appeals to me.