Investing in gold coins and bars can give you a strong hedge against market uncertainty and runaway inflation. Buying gold through a Gold IRA offers an easy way to diversify your investment portfolio with assets that commonly outperform stocks amid economic downturns and high inflation.
In May 2022, Consumer Price Index (CPI) numbers showed U.S. inflation rocketing higher at the fastest rate in nearly 15 years. The S&P 500 Index is down almost 20% year-to-date. Many market analysts and smart investors are looking for alternative assets such as gold and silver to improve their investment portfolios. Nearly halfway through 2022, gold is one of the few investments showing investors a positive return.
This article gives you critical information on buying gold coins and bars, and reviews top Gold IRA companies.
Advantages of Gold IRAs – Buying Gold Coins and Bars
A Gold IRA is a self-directed IRA that gives you the ability to expand your investments beyond just paper assets. Notably, you have the freedom to invest in physical assets such as gold and silver. This is important because precious metals have real value in and of themselves. They are also less vulnerable than paper assets to theft or government seizure.
Best Gold Coins to Invest In
The IRS requires gold coins in a Gold IRA to be at least .995 pure. To ensure you’re investing in approved gold, check with your Gold IRA provider.
Here are three top gold coins to buy, their purity and weight are guaranteed by national mints.
Gold American Eagle
The Gold American Eagle is prized by gold investors worldwide. Its “Walking Liberty” design was inspired by the Saint-Gaudens $20 gold coin, minted from 1907 to 1933 (the last minted-for-circulation gold coin). Gold American Eagles are minted exclusively with gold from gold mines in the U.S.
Chinese Gold Panda
Adorned with adorable panda bears, and with a fineness of .999, the Chinese Gold Panda coin is consistently in high demand. The reverse side design varies from year to year – although it’s always some depiction of pandas.
British Gold Britannia
The Gold Britannia coin is .9999 pure gold. The coin’s reverse side shows the symbolic figure, Britannia. The obverse side features Her Majesty, the Queen. The Royal Mint’s Britannia series of gold and silver coins has been immensely popular with investors since its inception in 1987.
Best Gold Bars to Buy
Some investors prefer to stock their Gold IRAs with gold bars. Because bars don’t have the artistic designs featured on coins, they sell for less per ounce than gold coins. The best gold bars to invest in are those produced by a national mint or a respected private minter that guarantees the purity and weight of its products.
The Perth Mint – Australia’s national mint – produces a wide selection of gold and silver bars, coins, and jewelry. Two highly respected private gold minting companies are Credit Suisse and Johnson Matthey.
Top 3 Gold IRA Companies
The following are three of the best-rated Gold IRA firms:
In addition to the .995 minimum purity requirement, the IRS also has two other strict rules for investing in a Gold IRA:
- Your account must be managed by an IRS-approved custodian trustee firm (you make the buy-sell decisions; your custodian executes your orders – and also handles IRS paperwork)
- Your gold must be kept in an IRS-approved storage facility
The easiest way to ensure you’re abiding by all the IRS rules is to set up your account with a Gold IRA company that directly provides all the IRS-required services.
#1 Regal Assets Best Overall Gold IRA Provider
Regal Assets is an elite Gold IRA provider – an official member of the Forbes Finance Council – and one of a select few companies that directly provide all the elements required by the IRS – approved precious metals, storage, and trustee services.
#2 JM Bullion – Fast-growing US Precious Metals Dealer
Dallas-based JM Bullion probably has a huge selection of gold and silver products – including its proprietary Gold Notes. It’s a very popular gold and silver shopping spot, selling coins, bars, and jewelry. Like with Kitco, you’ll have to arrange account management and storage services on your own.
#3 Kitco – Best for Market News
Kitco has plenty of gold coins and bars for sale, and can set up your Gold IRA, but will refer you to third parties for storage and management services. Kitco’s an excellent resource for precious metals market news and analysis, including analysis on publicly-traded mining companies.
Extended Summary Table: Top 3 Precious Metal IRA companies
Gold IRA: Gold Coins and Bars to Invest in Today – Summary
Gold coins and bars are an excellent hedge investment against ongoing inflation and market uncertainty. Contact a trusted Gold IRA company to get more information about investing in gold coins and bars, and to discover all the benefits of investing in a Gold IRA.
If you want to explore other investments to hedge against economic uncertainty, there are now a few companies (Regal Assets is one) legally authorized to offer cryptocurrency IRAs.
Find out if a Gold IRA is right for your investment strategy. Learn more here about IRAs (including Silver IRAs, Crypto IRAs, and Bitcoin IRAs).
Written By: J.B. Maverick – An active investor who has written hundreds of articles, blogs, and eBooks on personal finance and investing for dozens of different investor information websites, including Investopedia.com, and acted as an advisor and editor for the Financial Educators Council. Connect with Jack on linkedin here
