This article is Sponsored Content by IronMonk Solutions, written by J.B. Maverick
Many investors are currently adding gold to their investment portfolios. Historically, when stocks are down, gold is one of the few investments whose value increases. That historical tendency appears to be held in 2022. The stock market has suffered huge losses since the first of the year, but the prices of gold and silver are increasing.
One of the best ways to consider adding gold to your portfolio is through a tax-advantaged Gold IRA. This article gives you a guide to Gold IRAs and the best gold bars to buy as investments.
What Makes Investing in Physical Gold a Good Idea
Gold and silver have been reliable stores of value throughout history – especially during times of severe economic downturns. For clear evidence of gold’s value, just look at the actions of central banks, which have always maintained huge stores of gold.
Investing in gold is an easy way to diversify your investment portfolio. It’s possible to invest in gold through stocks or gold ETFs, but there are unique advantages to investing in physical gold.
- Unlike cash in bank accounts, the government cannot easily confiscate physical gold.
- Gold provides a strong hedge against inflation that devalues paper money.
- Physical gold isn’t exposed to theft by “hackers”.
Advantages a Gold IRA Offers
There are additional advantages to holding gold bullion in a self-directed IRA (SDIRA). A Gold IRA gives you all the following benefits:
- IRA tax benefits
- Increased control over your investments – you can buy and sell gold in an IRA without generating a taxable event
- Depending on your state laws, gold in a Gold IRA may be shielded from creditors
- The flexibility to use a traditional IRA or a Roth IRA
Top 3 Gold Bars to Invest In
So, what are the best gold bullion bars to invest in with a Gold IRA? The key is to make sure that you meet the Internal Revenue Service (IRS) purity requirement. The IRS requires that gold bars purchased for a Gold IRA be at least .995% pure.
The easiest way to ensure that your gold meets the IRS purity requirement is to purchase gold bars minted by a recognized, respected minter that guarantees the purity of their products. Such bars have clear markings certifying their purity. Three of the most well-known and respected minters of gold are Johnson Matthey, Credit Suisse, and the Perth Mint.
Headquartered in London, Johnson Matthey dates back to 1817. Its history includes being the official assayer and refiner of gold for the Bank of England.
Credit Suisse is a major Swiss banking company that also has a long, respected history as a gold and silver minter. Their gold bars are of the highest purity – .9999%.
The Perth Mint
You can’t get more official than being the official mint for a country, and that’s exactly what the Perth Mint is – the official mint of Australia. In addition to minting gold and silver bars and coins, it also manufactures high-quality gold and silver jewelry.
Top 3 Gold IRA Companies
In addition to its purity requirements, the IRS also has strict rules about how a Gold IRA must be managed and where your gold is stored (only in IRS-approved storage facilities). To ensure that you’re in full compliance, it’s best to set up your account with a Gold IRA company.
Here are three of the most respected Gold IRA companies:
#1 Regal Assets Best Overall Gold IRA Provider
Regal Assets offers the advantage of directly providing you with all the services required by the IRS for a Gold IRA – IRS-approved gold and silver bars, custodian trustee services, and approved storage. Regal is also an expert at handling rollovers from other retirement accounts you may have.
#2 JM Bullion – Fast-growing US Precious Metals Dealer
Originally just a precious metals retailer, JM Bullion has one of the widest offerings of gold and silver bars and coins. It also sells collectible coins. One disadvantage with JM is that it’s not a full-service Gold IRA provider like Regal Assets.
#3 Kitco – Best for Market News
Kitco’s website offers historical charts of gold and silver prices, along with extensive news and precious metals market analysis and commentary. Kitco resembles JM Bullion – offering a wide selection of gold bars and coins, but not directly offering complete Gold IRA services.
Extended Summary Table: Top 3 Precious Metal IRA companies
3 Gold Bars to Consider Adding to Your Portfolio – Summary
When you go shopping for gold bars for your Gold IRA, purchase quality products that have been minted by a major refinery such as Credit Suisse.
Gold bars are an attractive investment because they typically sell for a low premium over the spot price of gold.
Extra Investing Tip: Through a select few companies (Regal Assets is one), you can now hold cryptocurrency investments in a tax-advantaged retirement account, using a Bitcoin IRA.