What Are Tips For Investing In Gold And Silver IRAs With Firms Like Oxford Gold Group

When looking at holdings in an investment strategy, many clients tend to choose among the conventional options of exchange-traded funds (ETFs), mutual funds, stocks, or bonds.

For those looking toward retirement using a self-directed individual retirement account, there is the flexibility of alternative investments like buying precious metals, including gold, palladium, silver, or platinum. Click for details on what you should know before purchasing physical precious metal.

A gold IRA is responsible for diversifying retirement holdings and offers a stable foundation in the face of inflationary distress and economic risks.

You can find quality precious metals to put in an IRA, in a well-qualified firm specializing in the physical commodity and self-directed IRAs like Oxford Gold Group. A review for this company can be found at

Partnering with the right company will ensure that you remain compliant with IRS stipulations associated with investing in gold IRAs. Only specific metals are approved for these accounts.

What Are Tips For Investing In Gold And Silver IRAs With Firms Like Oxford Gold Group

When the goal is to use your investment holdings as a means to grow a retirement savings, it’s vital to ensure that the wealth is preserved and the assets are diverse to avoid the potential for a devastating loss if the “eggs are in a single basket” so they say.

What that references is keeping a portfolio rich in paper assets like stock, mutual funds, ETFs, or bonds, instead of accounting for the fact these all correlate to the financial and stock markets.

That means if there’s a crisis or recession, there will be substantial devastation to the strategies that depend on those holdings. That is unless there is a diversifier in the mix like a gold IRA.

These self-directed retirement funds offer individual clients the opportunity to choose physical precious metals as investments for their retirement strategies.

The investor can purchase the physical commodities in either bullion in either coins or bars and hold these, but they have to meet the IRS stipulations for IRA approval.

A self-directed IRA needs to be administered by an IRS-approved custodian specializing in these accounts. The custodial service must further specialize in the precious metal; not all do, making it essential to research and ensure the entity you become involved with does before committing.

The precious metal dealer is another firm you’ll need to research for authenticity and legitimacy to ensure you obtain quality gold avoiding the potential for a scam.

When working with a reputable, trusted firm specializing in gold IRAs like Oxford Gold Group, you’ll feel confident in your purchases, that you’re meeting compliance, and that these will be stored safely and securely in an insured IRS-approved facility.

Do You Understand The Functionality Of Gold And Silver IRAs

When working with a custodial service specializing in gold and silver IRAs, the service will set you up for a self-directed account and accept the funds for purchasing the precious metals you buy through a trusted dealer. A few steps to follow in the process include:

Setting up the account

The first step is to open an IRA with a custodial service that is IRS-approved. These can consist of a retirement firm, a banking institution, or an insurance agency.

If you have a preexisting retirement account like a 401k, these can be rolled over into the gold IRA since 401ks cannot hold physical gold or silver.

Once the 401k custodian issues funds from that account, these can then be contributed to the self-directed IRA for the metals’ purchase. Read how to invest in gold using a Roth IRA.

Selecting metals

The IRS stipulates stringent guidelines regarding the rounds, coins, and bars permitted for holding in a gold or silver IRA. Gold must have a minimum fineness of no less than .995.

Silver bars, coins, and rounds must be minted by the government or an “accredited manufacturer” with a fineness of no less than .999.

When shopping with a reputable precious metal dealer, these firms will make it easy for investors to designate the IRA-approved products from those that are not.

These items should be clearly documented, and if not, there should be representatives who can answer the question for investors looking to remain in compliance with the necessary guidelines.

Locating a gold and silver dealer

Once the self-directed individual retirement account is set up and funded, you must find a precious metal dealer. When researching the right firm to work with, it’s vital to look for a company with years in the industry, experience, knowledge, and the client’s retirement goals as their priority, like the team at Oxford Gold Group.

The gold and silver dealer will buy the gold and silver you select on your behalf to hold in the IRa. There are instances where dealers have gold IRA investment knowledge and can assist with opening the account and buying the products.

These are designated as “gold IRA companies,” with the dealer having the capacity to supply the silver and gold plus act in the capacity as the approved storage facility once the transaction is complete. A depository for storing gold needs to be insured and government-approved.

Final thought

As you begin to prepare your retirement strategy, the goal is to avoid having your wealth tied up in merely one class of assets, particularly if these are all dependent on the economy’s performance. If there is turmoil in markets, you will experience those effects sometimes on a drastic level.

The best hedge against this devastation is to invest in diverse assets that can hold their own in a turbulent market or even rise to the occasion.

The suggestion is that gold is one of those, but it’s wise to keep your investment in precious metals to roughly 15% when there are tough times and less when the markets are stable. You don’t need much, but it goes a long way.

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