I made the plunge into a pool full of gold. Now it is time for me to choose where and how much gold my IRA will buy. With gold being such a hot topic, it can be very difficult to search the internet for impartial information. While there are some independent advisors out there, not many. They’re also not as loud than most of the other gold brokers/dealers. Still, I learned a lot and will make my decision based on this list of gold investment suggestions. Visit our website and learn more about gold ira etrade.
Options for investing in gold IRAs
Bullion Bars are actual physical bars of gold. They can cost up to ten million depending on how much gold is worth. Although I know that my IRA will purchase the gold, it would never allow me to see it, hold it, or store it. However, the physicality of a bar is very important in my decision (pun intended).
Coins – again, a physical entity. Only some types of gold coins are allowed to be held in an IRA. They are not collectible and do not need to be proof. The web has more information about gold coins – but be sure to verify that they are not rare or collectible if your goal is to have them in an IRA.
Gold Exchange-Trade Funds: Derivatives that track changes in gold ounce values. It may seem simple, but I will never buy derivatives, whether they are within my IRA.
A document that proves that your IRA holds X amount of bullion, called a Gold Certificate.
Mining Company Stock/Gold Mutual Funds. This is self-explanatory. I don’t want to mess around with stocks right away, no matter the company.
E-gold, or digital gold, is also available. These are the same as bullion bars and what my IRA is buying.
I intend to direct my IRA to purchase gold as insurance. In essence, I want diversification and to spread the potential losses among many investment types. I don’t want to pay storage or transport costs for coins and bars. I don’t want stocks. I won’t ever buy, sell, or trade anything derived directly from the real thing. This should be an easy process. I want to be in control of my trades at all times. Online gold trading is the best option for me.