You are on this page probably because you are looking at moving part of your retirement fund, be it your 401k or 403B or your Individual Retirement Account, into precious metals.

Like all financial decisions, diversifying your current retirement plan by setting up a precious metals IRA, is not one you should take lightly, and therefore you will want to gather all the relevant information you can, to enable you to make the best decision for your circumstances.

Here at Transfs, we have put together a guide of what to look for when selecting your gold ira provider, whether you are starting a new investment altogether or looking to rollover your existing ira. The information below is as detailed as possible, but we strongly recommend that you also carry out your own research before making a firm decision with regards your investment.


We talk further about what to look for when choosing which gold IRA company to use. A review guide for the various companies we have researched and the information we found. The benefits and pitfalls of setting up precious metals IRA.And finally, additional things you may want to consider when selecting your new IRA provider.

Gold IRA Companies – What You Need To Know


The most important and relevant information needed to consider when looking at any company to use for your 401k or ira rollover can be covered in 7 main elements, as outlined below.

  1. The BBB rating (click here for information on how the BBB rating works) and the number of complaints that have been registered in the last 3 years.BBB and Trustlink logos
  2. Their Business Consumer Alliance rating.
  3. Their Trustlink rating which is determined by the number of reviews and score they get out of 5 from previous customers.
  4. Whether they provide an IRA facility or just sell precious metals
  5. The fees they charge.
  6. The quality of customer service
  7. Whether they use a 3rd party Custodian



Below you will find a table of the various companies we have reviewed and the information we have found out about them. You can follow the link of each company to see their individual review in more detail. We strongly recommend that you speak to the companies personally before making your final choice.

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Additional Things To Consider When Selecting A Gold IRA Company

if you are seriously considering converting your IRA or 401k into a gold account (investment options are more limited in a 401k account than within a precious metals one*) then there are a number of things to consider when talking to any of these companies.



working out ira fees

You will see from the table above that depending on which company you chose, the fees vary. Some charge a fixed fee while others charge either fixed and percentage or the fees vary depending on your investment. One thing to consider with various fees is the more your invest, the more you will have to pay.

Now because some companies have varying fee structures, don’t let that put you off from investing for your future. The return you get from investing, far outways the investment in fees.

There are three areas of fees that need clarification from your provider so that you know what you are paying. The areas relate to the three sections of your account; Provider, Custodian, and Depository.


What You Will Need To Get Clarified With Your Chosen Provider Concerning Fees

  • The fee for opening an account. A gold IRA is a tax deferring account which means it can only be opened by an IRS approved custodian. Each custodian charges differing fees, so if the provider you chose recommends a number of different custodians, you will need to check with each one. Normally you should expect to pay around $50 to open a new account.
  • Fee for carrying out your transaction. When buying your metals to be added to your account, or if you invest in more gold at any time, you will need to pay a transaction fee. This fee will be applicable if you choose to sell any of your investment too. This also varies from custodian to custodian, but expect to pay in the region of $40 per transaction.
  • Fee for maintaining your account. This is another varying fee depending on the custodian, but because of the importance of maintaining your account, a large number of custodians put this fee on their website. The range of the fee varies but can be from $50 to £250 plus a year, depending on the custodian.
  • Fee for fund transfer. When you make your investment, the transfer into your account is done via wire transfer and this generates a fee. Each transfer is around $25.
  • Fee For Storage. I mention below that when precious metals, its storage is vital otherwise you will be liable to pay tax. Once your purchase is complete, you’ll want to store it in a depository. The fee for depository storage varies from depository to depository, also how you store your investment too can effect the yearly fee. You may want to have your metal segregated from others, this will, increase your fee. You should expect to pay between 0.5-1% of the value of your assets by way of a depository annual fee, plus any extras you choose, such as segregation.

IRS LogoIs Your Custodian Licensed by the IRS?

A custodian must be properly licensed by the Internal Revenue Service. There is a register of eligible custodians and whichever company you choose, they can confirm that the custodian they use is on that list.

What you also need to be aware of, if you are not already, is that a custodian is not allowed to offer actual financial advice nor can they sell you any investment products. Their role is to carry out the purchase and administration of your gold ira investment. In other words, they simply act on your behalf, they don’t advise you, that is the job of your provider or financial advisor.


Make Sure Your Company Uses A Quality Depository

depostitory boxesWhen purchasing gold silver, or platinum for your account, checking that the correct storage is being used by the company you choose is vital. Because the government sees these investments as cash since they can be liquidated easily anywhere in the world, you will be liable for tax on your bullion or coins if you hold them at home. To appreciate the tax benefits the metal you purchase for your rollover /retirement account must be held by a private depository of your choice in the US. Not only that but any good depository will allow you to visit any time you please.

A depository as you know is a secure building that is managed and protected 24 hours a day, 7 days a week. There are many depositories located all around the US, so when setting up your rollover, you should be allowed to pick the nearest one to where you live. Furthermore, you can determine the quality of the depository by the quality of their insurance and legal separation.

Depository Insurance & Legal Separation.

I mentioned in the section on fees that you can if you so choose have your metals segregated from others, but that is not what I mean by legal separation. You want to make sure that the depository you use is insured to a high value (not all are) but also that they DO NOT take ownership of your assets in any way while they are being stored. The reason why this is important is because should anyone take legal action against the depository, your assets will be protected and not levied against the claim if they have not taken ownership.


* = Any IRA whether a Traditional or ROTH is able to be rolled over successfully into a physical gold account. A 401(k) is a little more complicated and your eligibility to convert it into precious metals depends on a number of factors. If rolling over your 401k is something you want to consider, then your custodian will be able to advise accordingly.