How to Open a Gold IRA
Opening a gold IRA is a structured process: choose a specialized firm, open a self-directed IRA with an IRS-approved custodian, fund the account (contribution or trustee-to-trustee transfer), purchase only eligible bullion, and hold it at an approved depository—never at home.
Step 1 — Compare best gold IRA companies
Score fees, minimums, education, depository partners, and buyback terms. Use our 2026 company comparison and individual reviews before you transfer cash.
Step 2 — Open a self-directed IRA
Standard Fidelity/Vanguard/Schwab IRAs generally do not hold physical bullion. You need an SDIRA custodian that supports precious metals (often coordinated by the dealer you choose).
Step 3 — Fund the account
- Annual contribution: IRS limits apply across all IRAs (e.g., $7,000 / $8,000 catch-up—confirm current year).
- Direct rollover / transfer: no dollar cap when moving from 401(k)/403(b)/IRA trustee-to-trustee; prefer direct to avoid the 60-day trap.
Step 4 — Buy IRS-eligible metals
Gold bars typically need 0.995+ fineness; American Eagles are a statutory exception. Avoid numismatics and jewelry inside the IRA.
Step 5 — Depository storage
Custodian ships metal to Delaware Depository, Brink’s, IDS, or another approved vault. Home-storage pitches are a major red flag.