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As uncertainty about a potential recession grows — coupled with the lasting effects of elevated inflation — more Americans this year are turning to gold investments.
But once you’ve decided to add gold to your portfolio, it can be a challenge to figure out exactly how to do it. You might choose to buy shares in a gold ETF with the brokerage you already use or gold futures contracts. You could also simply buy gold bullion, in the form of gold bars or coins. Another popular option for long-term investors is a gold IRA, which allows you to invest in physical gold using a tax-advantaged retirement account.
Gold IRAs are unique because you typically need to use a company to help you buy the gold and act as custodian so that you can meet IRS requirements for your self-directed IRA. You can also use these companies to assist your physical gold bullion purchase, even if you don’t plan to put it in an IRA.
To help you get started, we’ve outlined a few things below you should always consider when choosing a company to assist with your gold investment.
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What to look for in a gold investment company
These are some details to look for when searching for a gold investment company:
IRS requirements and approved custodians
If you’re specifically looking to invest in a gold IRA, perhaps the most important thing you can do is ensure your investment follows IRA rules. Otherwise, you could face penalties or fines from the agency.
To start, make sure the gold the company buying on your behalf meets IRS standards. The IRS outlines eligible
