David RodeckInvesting Expert Writer
David Rodeck specializes in making insurance, investing, and financial planning understandable for readers. He has written for publications like AARP and Forbes Advisor, as well as major corporations like Fidelity and Prudential. Before writing full...
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David RodeckInvesting Expert Writer
David Rodeck specializes in making insurance, investing, and financial planning understandable for readers. He has written for publications like AARP and Forbes Advisor, as well as major corporations like Fidelity and Prudential. Before writing full...
See Full Bio
Written By
David Rodeck
David RodeckInvesting Expert Writer
David Rodeck specializes in making insurance, investing, and financial planning understandable for readers. He has written for publications like AARP and Forbes Advisor, as well as major corporations like Fidelity and Prudential. Before writing full...
See Full Bio
David RodeckInvesting Expert Writer
David Rodeck specializes in making insurance, investing, and financial planning understandable for readers. He has written for publications like AARP and Forbes Advisor, as well as major corporations like Fidelity and Prudential. Before writing full...
See Full Bio
Investing Expert Writer
Rae Hartley BeckDeputy Editor of Investing and Retirement
Rae Hartley Beck first started writing about personal finance in 2011 with a regular column in her college newspaper as a staff writer. Since then she has become a leader in the Financial Independence, Retire Early (FIRE) movement and has over 300 by...
See Full Bio
Rae Hartley BeckDeputy Editor of Investing and Retirement
Rae Hartley Beck first started writing about personal finance in 2011 with a regular column in her college newspaper as a staff writer. Since then she has become a leader in the Financial Independence, Retire Early (FIRE) movement and has over 300 by...
See Full Bio
Rae Hartley Beck
Rae Hartley BeckDeputy Editor of Investing and Retirement
Rae Hartley Beck first started writing about personal finance in 2011 with a regular column in her college newspaper as a staff writer. Since then she has become a leader in the Financial Independence, Retire Early (FIRE) movement and has over 300 by...
See Full Bio
Rae Hartley BeckDeputy Editor of Investing and Retirement
Rae Hartley Beck first started writing about personal finance in 2011 with a regular column in her college newspaper as a staff writer. Since then she has become a leader in the Financial Independence, Retire Early (FIRE) movement and has over 300 by...
See Full Bio
Reviewed
& 1 other
Updated: Aug 29, 2024, 2:07pm
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
A gold IRA allows you to own physical gold bullion while also benefiting from the tax advantages of an individual retirement account. However, we would not recommend this special type of individual retirement account for most investors. For instance, you won’t find a gold IRA option at any of the largest, most reputable brokerage firms.
If you absolutely must have a gold IRA, we’ve broken down the best options available to you. But please bear in mind that even the best of this bunch are not optimal investments for your hard-earned retirement dollars.
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Our Guides
- Best 401(k) Plans
- Best Retirement Plans
- Best Annuity Companies
- Best IRA Accounts
- Best Roth IRAs
Show Summary
- American Bullion
- American Precious Metals Exchange (APMEX)
- JM Bullion
- Silver Gold Bull
- American Hartford Gold
- Rosland Capital
- Birch Gold Group
- Monetary Gold
- Orion Metal Exchange
- Summary: The Best Gold IRAs
- Methodology
- What Is a Gold IRA?
- What Is a Gold IRA Rollover?
- Gold IRA Costs and Fees
- Alternatives to Gold IRAs
- Gold IRA vs. Physical Gold: What’s Better?
- Frequently Asked Questions (FAQs)
- Next Up In Retirement
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American Bullion
4.0
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$99.80 per ounce over COMEX
Initial Purchase Requirement
$0
Account Minimum
$0
On American Bullion's Website
$99.80 per ounce over COMEX
$0
$0
Editor's Take
American Bullion ranks as the best gold IRA company according to our research. It has the lowest gold bar spread of any company we examined, and it doesn’t have an initial purchase requirement or account minimum, making it easy for investors with small accounts to get started.
American Bullion also waives storage and custodian account fees for the first year.
Pros & Cons
- Low gold bar spread
- No initial purchase requirements or account minimums
- Waives fees for the first year
- Customer service does not offer a live chat system
- Educational materials are biased
Details
American Bullion was founded in 2009 during the financial crisis, when fears about the economy’s future drove growing demand for non-stock investments like gold. The company’s focus has been on teaching people how to roll over their existing 401(k)s, IRAs and other retirement plans into gold IRAs.
As part of this goal, it offers a wide range of educational materials, all of which strongly encourage customers to cash out of their existing investments and buy into gold.
American Precious Metals Exchange (APMEX)
3.8
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$161.39 per ounce over COMEX
Initial Purchase Requirement
$2,000
Account Minimum
$2,000
On APMEX's Website
$161.39 per ounce over COMEX
$2,000
$2,000
Editor's Take
The American Precious Metals Exchange, or APMEX, partners with five custodians to store the gold bullion held in your gold IRA, which is the broadest selection of any company in our survey. This feature provides you with additional flexibility in choosing a custodian with the terms and fees you like best.
The company also offers a reasonable gold bar spread and high-quality customer service, answering our questions quickly.
Pros & Cons
- Custodian partnerships offer flexibility
- Excellent customer service
- Requires a minimum purchase and account balance of $2,000
Details
The American Precious Metals Exchange is one of the largest online retailers of precious metals. APMEX offers a broad selection of precious metal IRAs for silver, platinum and palladium, in addition to gold IRAs. The company has been in business for 23 years, making it the oldest firm on this list.
JM Bullion
3.5
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$165.60 per ounce over COMEX
Initial Purchase Requirement
$0
Account Minimum
$0
via partner site
$165.60 per ounce over COMEX
$0
$0
Editor's Take
A well-known name in the industry, JM Bullion has won several awards over the past several years. It partners with multiple gold IRA custodians. New Direction IRA is the company’s preferred custodian.
The company does not have a minimum purchase requirement or an account minimum for gold IRAs. While it ranks well in other categories, it does charge a higher gold bar spread than many other competitors on this list.
Pros & Cons
- No minimum purchase requirements or account minimums
- Partners with multiple custodians
- Sells a wide variety of precious metals
- Relatively high gold bar spread
Details
Since opening in 2011, JM Bullion has racked up awards including ranking No. 95 in the top 500 of all online businesses in 2019, according to Internet Retailer Magazine. It sells a wide selection of precious metals, which includes free shipping on orders over $199.
Silver Gold Bull
3.2
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$119.10 per ounce over COMEX
Initial Purchase Requirement
$0
Account Minimum
$0
Via partner site
$119.10 per ounce over COMEX
$0
$0
Editor's Take
Silver Gold Bull’s gold IRA product has several positive features. There is no minimum purchase requirement or account minimum, and it also charges a reasonable gold bar spread. The company also offers decent customer service.
Pros & Cons
- No minimum purchase requirements or account minimums
- Reasonable gold bar spread
- Decent customer service
- Only partners with one custodian: Equity Trust
Details
As its name suggests, Silver Gold Bull specializes in gold and silver investments, and also offers a modest selection of other precious metal assets like platinum coins and collectibles in other metals. Silver Gold Bull has been in business since 2006.
American Hartford Gold
2.3
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$179.70 per ounce over COMEX
Initial Purchase Requirement
$10,000
Account Minimum
N/A
$179.70 per ounce over COMEX
$10,000
N/A
Editor's Take
Despite being a relative newcomer, American Hartford does have a few positive features. The company’s gold IRAs lack an initial purchase requirement or an account minimum. It also provides a decent range of customer service options with phone, email and live chat options.
Pros & Cons
- No minimum purchase requirements or account minimums
- Wide range of customer service options
- Live customer service representatives may give vague answers
- High gold bar spread
- Only partners with one custodian: Equity Trust
Details
Founded in 2015, American Hartford Gold is a relative newcomer to the gold IRA business. The company boasts several celebrity endorsem*nts, including the likes of Bill O’Reilly, Rudy Giuliani and Rick Harrison from Pawn Shop Wars. It specializes in precious metal IRAs and the delivery of physical precious metals.
Rosland Capital
2.1
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$271.30 per ounce over COMEX
Initial Purchase Requirement
$5,500
Account Minimum
$5,500
Via partner site
$271.30 per ounce over COMEX
$5,500
$5,500
Editor's Take
Rosland Capital’s website states the company has a commitment to honesty and high-quality customer service. That came through during our survey. Aside from a relatively high gold bar spread, the company was the best at clearly disclosing fees on their website. When we called their customer service representatives, they answered nearly all of our questions clearly and accurately.
Pros & Cons
- Commitment to transparency and honesty
- Excellent customer service
- High premiums and fees
- Minimum purchase requirement of $5,000
Details
Founded in California in 2008, Rosland Capital also has locations in London, Paris and Munich. Rosland offers standard precious metal investments as well as specialty coins developed with partners like the British Museum, Formula 1® and the PGA Tour.
Birch Gold Group
2.1
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$215.80 per ounce over COMEX
Initial Purchase Requirement
$10,000
Account Minimum
$0
Via partner site
$215.80 per ounce over COMEX
$10,000
$0
Editor's Take
Birch Gold’s customer service representatives did a good job answering our questions and connecting us with a gold IRA specialist—though we did have to wait 15 minutes to speak with them. The company provides a comprehensive library of materials on gold IRA investing, although they offer anything but unbiased advice.
One notable drawback of Birch Gold Group is that your first purchase must be at least $10,000. However, after your initial purchase there is no account minimum.
Pros & Cons
- No account minimums after first purchase
- Decent customer service
- Educational materials are biased
- Minimum purchase requirement of $10,000
- High gold bar spread
- High fees
Details
Birch Gold Group has been in business since 2002, making it one of the oldest companies in the market. In addition to gold IRAs, the firm also sells precious metals, and seems very fond of touting endorsem*nts from celebrities such as Ben Shapiro and Ron Paul.
Monetary Gold
2.1
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$165.30 per ounce over COMEX
Initial Purchase Requirement
$10,000
Account Minimum
$10,000
Via partner site
$165.30 per ounce over COMEX
$10,000
$10,000
Editor's Take
Monetary Gold is a well-established company. It offers gold and silver IRAs, as well as investments in other precious metals. The company offers 24/7 customer service as well as free shipping when you are a new client.
The company’s gold IRA charges reasonable fees, including a relatively decent gold bar spread.
Pros & Cons
- Reasonable fees
- Decent gold bar spread
- 24/7 customer service
- Minimum initial purchase of $10,000
- Only partners with one custodian: Equity Trust
Details
Monetary Gold is another well-established player, founded in 2000. The company offers gold and silver IRAs, as well as investments in other precious metals.
Orion Metal Exchange
1.9
Our ratings are calculated based on fees, rates, rewards and other category-specific attributes. All ratings are determined solely by our editorial team.
Gold Bar Spread
$132.30 per ounce over COMEX
Initial Purchase Requirement
$0
Account Minimum
$10,000
Via partner site
$132.30 per ounce over COMEX
$0
$10,000
Editor's Take
Orion does not have an initial purchase requirement, but you must keep at least $10,000 in the account, which is on the high side. The company partners with three custodians, providing potential clients with more flexibility.
The company charges a competitive gold bar spread, but there’s a catch. It also charges a flat $25 on each transaction. This could add up over time, especially for people who make regular contributions to their gold IRA. People rolling over a 401(k) won’t mind the small transaction fee.
Pros & Cons
- Multiple custodian partnerships provide flexibility
- No initial purchase requirement
- Competitive gold bar spread
- In-house retirement specialists
- You must keep at least $10,000 in account
- Flat $25 fee on each transaction
Details
Founded in 2017, Orion Metal Exchange is the newest entry on our list. Orion sells precious metals and precious metal IRAs. The company has an in-house department that is completely focused on IRAs. Its specialists could come in handy if you have any tax or retirement questions.
Summary: The Best Gold IRAs
| Company | Company - Logo | Forbes Advisor Rating | Forbes Advisor Rating | Gold Bar Spread | Initial Purchase Requirement | Account Minimum | Learn More CTA text | Learn more CTA below text | LEARN MORE |
|---|---|---|---|---|---|---|---|---|---|
| American Bullion |  | 4.0 |  | $99.80 per ounce over COMEX | $0 | $0 | Learn More | On American Bullion's Website | |
| American Precious Metals Exchange (APMEX) |  | 3.8 | | $161.39 per ounce over COMEX | $2,000 | $2,000 | Learn More | On APMEX's Website | |
| JM Bullion |  | 3.5 |  | $165.60 per ounce over COMEX | $0 | $0 | Learn More | Via partner site | |
| Silver Gold Bull |  | 3.2 |  | $119.10 per ounce over COMEX | $0 | $0 | Learn More | Via partner site | |
| American Hartford Gold |  | 2.3 |  | $179.70 per ounce over COMEX | $10,000 | N/A | |||
| Rosland Capital |  | 2.1 |  | $271.30 per ounce over COMEX | $5,500 | $5,500 | Learn More | Via partner site | |
| Birch Gold Group |  | 2.1 | | $215.80 per ounce over COMEX | $10,000 | $0 | Learn More | Via partner site | |
| Monetary Gold |  | 2.1 | | $165.30 per ounce over COMEX | $10,000 | $10,000 | Learn More | Via partner site | |
| Orion Metal Exchange |  | 1.9 | | $132.30 per ounce over COMEX | $0 | $10,000 | Learn More | Via partner site |
*Disclaimer: The gold bar spread data cited above was collected on March 8th and 9th 2023. Each individual company’s pricing was compared to the COMEX price for the exact minute the data was collected.
Methodology
We conducted an in-depth survey of the top 20 gold IRA companies in order to develop our listing of the best gold IRAs. We excluded any companies with:
- A Better Business Bureau grade lower than an “A”
- An initial purchase requirement greater than $20,000
The remainder we ranked on several categories intended to weed out any companies with higher than usual fees or that were difficult for customers to work with.
While some gold IRA companies are seemingly transparent about their fees, we found that on the whole they charge gold prices that run well above the average market price for gold. In our analysis, we dubbed this premium “the gold bar spread.” This price premium is almost never disclosed by gold IRA companies, and it represents a hidden fee for investors.
During our research, we discovered that the price per ounce for gold bullion varied from $100 to nearly $650 above the average market price as measured by the COMEX gold futures market.
We consider this gold spread to be the clearest indication of the markup charged by gold IRA companies, so it weighted heavily in our rankings. Gold IRA companies that charge investors bullion prices that are closest to the COMEX price earned more favorable ratings than those with higher markups.
To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates investing products.
What Is a Gold IRA?
A gold IRA is a type of alternative individual retirement account designed for individuals who want to hold precious metals like gold in their retirement accounts. The physical gold is not held in an account at a physical location you can check on, but is instead held and managed by your gold IRA’s custodian. As you purchase and sell gold within your IRA and the value of your gold changes, the balance of your IRA changes.
How Does A Gold IRA Work?
A gold IRA allows you to buy, sell and hold gold within a tax-advantaged individual retirement account. You open a gold IRA with the company of your choice who works with a custodian that manages the storing and tracking of your physical gold, for a fee. You never handle the physical gold yourself in order to remain in compliance with IRS regulations.
Gold IRA Custodians
The custodian of your gold IRA is who actually physically holds and manages your gold. There are many custodians in the industry, but not every gold IRA provider lets you choose your own.
Even the gold IRA companies that allow you to pick your own custodian strongly encourage you to go with their preferred partner.
Gold IRA companies charge relatively low fees in part because they receive commissions from the custodian they work with. This can create a perverse incentive for companies to work with custodians on the basis of who pays them the most, not who is the best option for you.
How To Choose a Gold IRA Company
- Evaluate custodian options. You have the right to choose your own custodian, so we discourage you from choosing a gold IRA company that doesn’t allow you at least a few custodian options.
- Assess fees. Each custodian charges their own fees, which are most often hidden and can add up to significant annual cost. The best way to know which gold IRA company and which custodian charges the lowest fees is not by looking at their rate tables but by looking at the price per ounce across multiple companies compared to the COMEX price of gold.
- Determine markup price. This requires a bit more legwork on your part, but it is worth it. For someone investing $50,000 in their gold IRA, picking the company with the cheapest markup would get them 26 ounces of gold, while picking the company with the highest markup would get them only 20 ounces of gold, based on pricing at the time of writing.
How Do I Open A Gold IRA Account?
- Choose a company to work with after evaluating the custodian options, fees and terms.
- Open an account with that company.
- Fund the account, bearing in mind minimum initial purchase and account minimum requirements.
Pro Tip
Investing in a gold IRA is not an optimal choice for your retirement security. They charge hidden fees that will eat away at any gains you do have. While most investors think of gold as a safe and secure investment, gold can be quite volatile. Consult with a fiduciary financial advisor to see what investments are best for your risk tolerance level.
What Is a Gold IRA Rollover?
A gold IRA rollover is the process of rolling over an existing retirement account into a gold IRA, or rolling a gold IRA into a non-gold IRA. Rolling over retirement accounts must be done within 60 days to avoid IRS penalties.
401k to Gold IRA Rollover
You can rollover some or all of your traditional 401(k) balance into a gold IRA. This must be done within 60 days to avoid IRS penalties. Carefully consider the fees and investment options available to you before rolling over a large sum into a gold IRA.
You may find that rolling over your account to a low cost brokerage and investing a portion of your balance in gold ETFs is a better choice than a gold IRA. Working with a financial advisor who does not make commissions on gold IRAs can help you determine your best choice.
Should You Buy Gold Now?
Gold has historically been a better performer when the Fed is easing and when inflation is expected to rise… Like other commodities, [gold] can also rise or fall if the U.S. dollar gets weaker or stronger.
– Ryan Johnson, CFA, CFP, managing director of investments for Buckingham Advisors
Gold IRA Costs and Fees
Gold IRA costs and fees are some of the highest and least transparent in the retirement industry. For this reason, a gold IRA may not be a good choice for you. You’ll pay significantly more with less potential for investment gains with a gold IRA than you would with a traditional low cost IRA.
Alternatives to Gold IRAs
If you’d like to invest part of your retirement funds in gold, you’ve got options that are less expensive and easier to use than a gold IRA.
Gold Mutual Funds and ETFs
Gold Stocks
Gold Investments Outside an IRA
Gold IRA vs. Physical Gold: What’s Better?
If you must own gold, which is better — physical gold or a gold IRA depends on your circ*mstances and preferences.
| Physical Gold | Gold IRA |
|---|---|
Fewer fees | Often comes with high fees |
Less safe, as it could be physically stolen | Relatively safe way to hold gold |
Not tax-advantaged | Tax advantaged |
Physical gold will cost significantly less in fees to buy, own and sell. You get the benefit of looking at it, but you also might have the worry of it being potentially stolen. A safe or safety deposit box can assuage some of these fears for much less than you’d pay in fees in a gold IRA.
A gold IRA has tax advantages owning physical gold does not. You won’t pay taxes on the growth in value of your gold and you don’t have to worry about keeping track of it as it’s held by your custodian. Unfortunately the high fees for a gold IRA mean that you may not see much benefit of the tax advantage of one. What gains your gold may have in value could be entirely eaten up by fees.
Frequently Asked Questions (FAQs)
Is gold a good investment for retirement?
If you prefer your portfolio be diversified into precious metals, you can invest in gold for retirement. Historically gold has been used as a hedge against inflation and market volatility, but gold is still a volatile asset. Your gold can lose value and it doesn’t generate income or dividends like stocks and bonds do.
High storage costs, price volatility, custodian fees and lack of liquidity make gold a less optimal investment choice for many retirees.
“We feel gold is suitable only as a trade from time to time, but we do not recommend commodities trading nor a long-term position in gold to clients.Gold could rise in a recession but gold is a negative cash flow asset, as it has storage, insurance and management costs. We prefer Treasuries in this scenario due to potential appreciation and positive cash flow,” says Ryan Johnson, CFA, CFP, managing director of investments for Buckingham Advisors.
Are gold IRAs taxable?
The IRS has several complicated instructions and limitations when it comes to self-directed IRAs like gold IRAs. The same rules that apply to traditional IRAs apply to gold IRAs — contributions may be tax-deductible, growth is tax-deferred and money is taxed on withdrawal.
In addition to these basic rules, gold IRAs are subject to additional regulations. For example, gold cannot be stored at home or in a physical vault you have access to. It must be stored with a custodian. You can also only hold certain types of gold within your IRA.
What is IRA eligible gold?
IRA eligible gold is gold that meets the standards set by the IRS to be held in a gold IRA. It must be a federal or state issued coin, or a gold bullion or coin that meets the requirements listed in IRC section 408(m)(3)(A). Any gold must be kept in the physical possession of a bank or approved non-bank trustee according to the IRS.
Who holds my gold in a gold IRA?
Your gold IRA custodian is who holds your physical gold in a gold IRA.
How much does a gold IRA cost?
Gold IRAs often have hidden fees that make it hard to know how much they cost. In our research we found that while many companies advertised low account fees, they charged a significant markup on gold and were not clear on custodian fees.
At the time of our research, this markup was as high as 12% in addition to other fees. Compare that to Fidelity, our pick for best IRA account, with fees as low as 0.02%.
Next Up In Retirement
- 401(k) Contribution Limits
- Is The Mega Backdoor Roth Too Good To Be True?
- The Best Target Date Funds For Retirement
- Best Total Bond Market Index Funds
- How To Retire Early With The Rule
- Fidelity Go Review
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circ*mstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
