{"id":29538,"date":"2023-08-27T15:00:25","date_gmt":"2023-08-27T22:00:25","guid":{"rendered":"https:\/\/www.advantagegold.com\/?p=29538"},"modified":"2023-08-27T15:00:25","modified_gmt":"2023-08-27T22:00:25","slug":"how-to-find-the-best-precious-metals-ira-for-you-2","status":"publish","type":"post","link":"https:\/\/www.advantagegold.com\/blog\/how-to-find-the-best-precious-metals-ira-for-you-2\/","title":{"rendered":"How to Find the Best Precious Metals IRA for You"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Once you\u2019ve decided a precious metals IRA is right for you, the next step is to decide <\/span><i><span style=\"font-weight: 400;\">which<\/span><\/i><span style=\"font-weight: 400;\"> precious metals make the most sense in your account.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This educational guide will help you:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Assess your goals and risk\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Evaluate <strong><a href=\"https:\/\/www.advantagegold.com\/approved-precious-metals\/\">eligible precious metals<\/a><\/strong> options<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Find a custodian<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A little understanding can go a long way. We are happy to help you on your journey toward achieving your goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><\/h2>\n<h2><span style=\"font-weight: 400;\">Assessing Your Investment Goals and Risk Tolerance\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The first step toward successful investing is to understand your goals. You must decide what you want to accomplish, and how you plan to do so.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Making a plan\u2014and sticking to it\u2014will help alleviate anxiety and allow you to be comfortable in your decision making.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Are you risk-accepting or risk-averse?\u00a0<\/span><\/p>\n<p><b>Risk-accepting<\/b><span style=\"font-weight: 400;\"> investors often adhere to an all-or-nothing mentality. They are willing to lose big in hopes that they\u2019ll win big. No guts, no glory.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This type of mindset often leads to chasing the thrill and short term plays of <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwi7_-ygpIWAAxViIEQIHR5iCMcQFnoECAwQAQ&amp;url=https%3A%2F%2Fwww.forbes.com%2Fadvisor%2Finvesting%2Foptions-trading%2F&amp;usg=AOvVaw2cGifEnKnLyLQEzw5aKIHb&amp;opi=89978449\" target=\"_blank\" rel=\"noopener\">options investing<\/a>, <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjK_o3SpIWAAxVyLUQIHZigBDUQFnoECDsQAQ&amp;url=https%3A%2F%2Fwww.forex.com%2Fen-us%2Ftrading-academy%2Fcourses%2Fintroduction-to-financial-markets%2Fwhat-is-forex%2F&amp;usg=AOvVaw3MLPIddSYcN4MpOPu8u9Tt&amp;opi=89978449\" target=\"_blank\" rel=\"noopener\">forex<\/a>, or <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwi8_5jlpIWAAxX_NEQIHVyCB8IQFnoECAYQAQ&amp;url=https%3A%2F%2Fanderson-review.ucla.edu%2Fmomentum%2F&amp;usg=AOvVaw0g54O4yE6n2BNGxDkdguHI&amp;opi=89978449\" target=\"_blank\" rel=\"noopener\">momentum hunting<\/a>. Short term investors quickly jump in and out of their plays, and typically look for what\u2019s next.<\/span><\/p>\n<p><b>Risk-averse<\/b><span style=\"font-weight: 400;\"> investors look for safety and stability. They accept smaller gains that add up over the long term. Most risk-averse investors don\u2019t want to get in and out of their investments, and are comfortable buying and holding an asset.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both risk-averse and risk-accepting investors have found precious metals IRAs can help them achieve their goals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For those who like the thrill of going big, metals in a long-term plan can help offer stability. Because a precious metals IRA is a long-term investment\u2014designed for withdrawal later in life\u2014risk-accepting investors may sleep easier knowing that if all else fails, they\u2019ll still have their <strong><a href=\"https:\/\/www.advantagegold.com\/gold-ira-investment\/\">Gold IRA<\/a><\/strong>, Silver IRA, or precious metals IRA with platinum and palladium.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For those who want less uncertainty, a precious metals IRA may be perfect.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most who purchase precious metals inside of an IRA practice a set-it-and-forget-it mindset. Because they are not looking for\u2014nor expecting\u2014a quick hit, <\/span><span style=\"font-weight: 400;\">investors typically store and hold IRA precious metals for long stretches of time.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All investing comes with inherent risks. The best precious metals IRAs help mitigate that risk and can offer a foundation for all other investments to build on.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><\/h2>\n<h2><span style=\"font-weight: 400;\">Evaluating Precious Metal Options\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The IRS places a strict list of standards on the types of metals allowed in an IRA.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coins must meet purity requirements, be newly minted, uncirculated, and come from government mints.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bars must be from approved manufacturers, and meet the same purity standards as coins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Scrap metal, jewelry, and historic pieces\u2014such as pirate ship gold\u2014are not allowed in the precious metals IRA.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The eligible precious metals include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gold<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Silver<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Platinum\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Palladium<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Each has a unique set of traits and may fulfill different investment objectives.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Gold<\/span><\/h3>\n<p><b>Gold<\/b><span style=\"font-weight: 400;\"> is the standard by which all other metals are measured. Treasured throughout history, gold has been valued for its rarity and beauty. Because it is non-corrosive, extremely durable, and still malleable, gold has been the precious metal of choice for the highest denomination of coins, and for some of the world\u2019s finest jewelry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IRA eligible gold must be 99.5% pure.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Silver\u00a0<\/span><\/h3>\n<p><b>Silver <\/b><span style=\"font-weight: 400;\">was, at one time, more coveted by <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwi4peepoYWAAxXENEQIHZY5BmY4FBAWegQIERAB&amp;url=https%3A%2F%2Fwww.britannica.com%2Fart%2FEgyptian-art%2FApplied-arts&amp;usg=AOvVaw2gZbziqzIHCR6RTooXu6L-&amp;opi=89978449\" target=\"_blank\" rel=\"noopener\">ancient Egyptians than gold<\/a>.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, modern societies value silver not only for its beauty, but for its essential use in technology.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Solar panels, televisions, cell phones, computers, and most electronics rely on silver and its conductive properties to function.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dedicated mines only result in 25% of silver production. Most silver is mined as a byproduct of mining other elements.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With world demand near an all time high, silver is rare and may remain in short supply for the foreseeable future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IRA eligible silver must be 99.99% pure.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Platinum<\/span><\/h3>\n<p><b>Platinum<\/b><span style=\"font-weight: 400;\"> is a beautiful and extremely rare, silvery-white metal. Used extensively by the jewelry industry, platinum sometimes trades at a higher price than gold.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The automotive industry relies on platinum for cars, buses and trucks. It is used in catalytic converters, and is very effective at converting engine emissions into less harmful waste. <a href=\"https:\/\/www.rsc.org\/periodic-table\/element\/78\/platinum\" target=\"_blank\" rel=\"noopener\">This use accounts for about 50% of its yearly demand.\u00a0<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">IRA eligible platinum must be 99.95% pure.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Palladium<\/span><\/h3>\n<p><b>Palladium<\/b><span style=\"font-weight: 400;\"> is also beautiful and silvery-white and belongs in the platinum family of metals. <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.usgoldbureau.com\/news\/platinum-vs-palladium&amp;sa=D&amp;source=docs&amp;ust=1689032633199542&amp;usg=AOvVaw0hXMdIlzFqFA2bDqbnCDww\" target=\"_blank\" rel=\"noopener\">It is 30 times rarer than gold, 12% harder than platinum, and not easy to substitute in its industrial uses.<\/a>\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.britannica.com\/science\/palladium-chemical-element\" target=\"_blank\" rel=\"noopener\">Palladium is used in jewelry, catalytic converters, fuel cells, and dental fillings.<\/a>\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IRA eligible palladium must be 99.95% pure.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Evaluating Custodians for a Precious Metals IRA\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A custodian is an institution\u2014usually a bank, credit union, or non-depository bank\u2014that is the keeper of your account.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Custodians:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Are highly regulated by the IRS and must meet regulating standards for internal controls, accounting, reporting, and policies.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Record-keep your IRA assets and ensure only eligible transactions occur within your plan.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Send your statements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Report necessary account activity to the IRS<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Fees and Cost<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Precious metals IRA plans have fees. Though most investors find the fees to be modest in relation to services provided, it is important to know what costs you may incur.<\/span><\/p>\n<p><b>An application fee<\/b><span style=\"font-weight: 400;\"> is a one-time charge for establishing the IRA account. Typically $50 to $75, it covers the processing of a new account or the transfer\/rollover of an established IRA or 401(k).<\/span><\/p>\n<p><b>A transaction fee\u2014<\/b><span style=\"font-weight: 400;\">usually $40 to $50\u2014covers trading in or out of metals positions after the account is established.\u00a0<\/span><b>An annual fee <\/b><span style=\"font-weight: 400;\">can vary from $90 to $300 per year. This fee is determined by the type of transactions you want your IRA to allow. A basic self-directed IRA may allow precious metals ownership, and a more complex self-directed plan may allow ownership of metals, stocks, bonds, treasuries, and other physical property.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The annual fee also includes storage fees in an eligible depository and insurance while your metals are stored.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">Storage and Security<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Guidelines require IRA-owned precious metals to be stored in a safe, neutral, and insured location.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are several IRS-approved depositories. The most common include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Delaware Depository<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Brinks Depository<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">HSBC Bank Depository<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">JP Morgan Chase Depository<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Many investors choose the location closest to them. Facilities typically allow scheduled visits <\/span><span style=\"font-weight: 400;\">where you can hold your metals in your hands.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Reputation\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Highly reputed and well-established Gold IRA companies, such as <strong><a href=\"https:\/\/www.advantagegold.com\/about-advantage-gold\/\">Advantage Gold<\/a><\/strong>, will often partner with a custodian.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Creating a de-facto partnership allows for both parties to be familiar with the other\u2019s operation and employees. <\/span><span style=\"font-weight: 400;\">This helps accounts process smoothly and often lessens time between transactions.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Advantage Gold is proud to have a near decade long relationship with <strong><a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.stratatrust.com\/self-directed-iras\/&amp;sa=D&amp;source=docs&amp;ust=1689033427535478&amp;usg=AOvVaw3I8DbeDAMRkOd90-y1Tzc3\" target=\"_blank\" rel=\"noopener\">Strata Trust<\/a><\/strong>. Strata is an industry leader, and helped pioneer the self-directed precious metals IRA.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">How to Choose the Right Custodian for a Precious Metals IRA\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The best precious metals IRA will meet your personal investing goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether your risk tolerance is high or non-existent, it can give you the foundational support for all of your subsequent investing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Choosing the right custodian for your account typically goes hand in hand with choosing the right Gold IRA company.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Be sure to do your due diligence. You\u2019ll find the highest-rated precious metals firm, Advantage Gold, has <strong><a href=\"https:\/\/www.advantagegold.com\/reviews\/\">thousands of online reviews<\/a><\/strong>. Many of these refer to the client&#8217;s smooth dealings with Strata Trust as the custodian of assets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Working in tandem with two great companies will make the transition to a precious metals IRA smooth and worry free.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><\/h2>\n<h2><span style=\"font-weight: 400;\">Learn More with Advantage Gold\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To get started, call us today at Advantage Gold. One of our highly trained account executives will walk you through the process.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You\u2019ll be amazed at how easy it is to get started.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We look forward to your call.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Once you\u2019ve decided a precious metals IRA is right for you, the next step is to decide which precious metals make the most sense in your account.\u00a0 This educational guide will help you: Assess your goals and risk\u00a0 Evaluate eligible precious metals options Find a custodian A little understanding can go a long way. We [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":30251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[536,127],"tags":[1251,1252],"class_list":["post-29538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-ira","tag-best-precious-metals-ira-companies","tag-best-precious-metals-ira-company"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts\/29538"}],"collection":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/comments?post=29538"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts\/29538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/media\/30251"}],"wp:attachment":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/media?parent=29538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/categories?post=29538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/tags?post=29538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}