How to buy gold in an IRA?

GregB777
By GregB777 on Fri, Aug 23, 2013 - 3:20pm

Hello to all:

I currently have a small IRA in a well known bank.  I want to know the best way to buy gold with this.

 

Since it's an IRA, I can't take money out and buy physical gold.  What is the better alternative?

 

GLD?  Gold miners?  

 

Any thoughts?

 

-G

,

2 Comments

bbroadhead's picture
bbroadhead
Status: Member (Offline)
Joined: Nov 6 2009
Posts: 13
self directed IRA

I created a self directed IRA and now have physical gold with it using Bullion Vault.  So far it has worked very well, though I'm a bit uncomfortable with the possibility of overseas confiscation.  I'm considering cashing it out, paying the tax, and holding the physical god myself.

HughK's picture
HughK
Status: Platinum Member (Offline)
Joined: Mar 6 2012
Posts: 761
Same post as in the other thread you started on this.

I reposted here just to keep all of the comments on this question together. - Hugh

Hi Greg,

I have a small Roth IRA that I started when leaving a job several years ago, and I have invested a significant portion of those funds into the Sprott physical gold and silver trusts (PHYS and PSLV) as well as some individual precious metal mining shares and mining share ETFs.  I also have a portion of one of my pension funds in here in Europe where I work now invested in the gold and silver ETFs of Zurich Kantonal Bank (ZKB).  The symbols of the funds that I have are ZGLD.SW and ZSIL.SW, which are hedged in Swiss francs, if I understand correctly.  Both the Sprott and the ZKB  claim to be fully backed by physical bullion, although sometimes they trade at a premium, and in that case, the total market capitalization of the shares is greater than the total value of the bullion held.  

If you search "sprott" at PP, you will find several comments, many of which are about PHYS or PSLV.

I am also aware of another bullion ETF, the Central Fund of Canada (CEF), but I don't know much about it.

I would expect you'll get a lot of responses, many of which will be more knowledgeable than mine.

Cheers and good luck,

Hugh

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