Gold and Silver IRA and 401k Plan

Last Updated on 17th June 2022 by Jeffrey Camerda

buying gold and silver with IRA or 401k plan

A Gold and Silver IRA is a Self Directed Individual Retirement Account that allows you to invest in Gold, Silver, and other precious metals. You can open a new Gold and Silver IRA in as little as 24 hours and transfer funds from an existing traditional IRA or roll over from a 401(k). Precious metals are an excellent alternative asset option for diversification of a retirement fund.

clos up image of a bitcoinWhat is a Gold & Silver IRA?

A gold and silver IRA or 401k is a special type of retirement plan called a Self-Directed Individual Retirement Account (IRA) that allows the account holder to invest in gold, silver, and often other precious metals such as platinum and palladium.

Funds can be transferred over from an existing traditional IRA or rolled over from a 401(k) plan and used to invest in precious metals. They are very appealing to investors that are concerned about the state of the global economy and the potential for another financial crisis.

Precious Metals in a 401k

Gold and silver are alternative assets that appeal to people that wish to diversify their retirement portfolio.  Traditional IRA and 401(k) plans are invested in conventional ‘paper assets’ such as stocks, bonds, and mutual funds. These traditional retirement plans often offer little or no control to the account holder in determining where their funds will be invested.

They are all tied to the traditional global financial system and do not facilitate investment in alternative assets. A Self-Directed IRA, on the other hand, allows the account holder to choose the assets their funds will be invested in. It gives complete control to the customer to determine how their retirement funds will be invested.

gold and silver coins on a tableGold & Silver Wealth Protection

Precious metals such as gold and silver are highly popular investment options for people seeking long-term protection of wealth. In the face of spiraling levels of national debt, inflation and a global pandemic investors are turning to alternative assets.

Diversification is key when it comes to asset protection and it has never been more critical than in 2020. Should the economy suffer another crisis similar to that of 2007-08, the value of traditional paper assets could plummet overnight.

Protect Your Retirement Plan

In this scenario, traditional IRA and 401k plans would see their value nose-dive. Investing a percentage of a portfolio in gold and silver can help protect against this situation and ensure your hard-earned funds are there when you need them in your golden years.

mobile phone on a deskHow Do I Open a Self-Directed Gold & Silver IRA?

Opening a precious metals self directed IRA couldn’t be easier. All you need to do is open a new self-directed IRA account with a custodian company that allows for investment in precious metals such as gold and silver. Legally, you are obliged to hire an approved custodian to manage your account.

You just need to choose a good one, and they will assist you with the account setup. You will need to complete an application form, sign some documents, and provide a valid form of ID. Once the paperwork has been completed and reviewed your account will be up and running.

Precious Metals  401 k – Set Up

Many of the top custodian companies state they can create your new gold and silver self directed IRA account within 24 hours of initial application.  Once your account has been set up you will need to transfer funds from your existing retirement account.

You can transfer all your funds or just a portion if you prefer. It is permissible to hold a traditional retirement account such as a Traditional IRA, Roth IRA, 401K, 403b, 457b, or TSP, and also hold an alternative asset self-directed IRA at the same time.

Diversify Your Portfolio

This way you can invest a portion of your retirement savings in precious metals while holding the rest in traditional paper assets.  Your custodian company will assist in transferring or rolling over funds from your existing account to your new gold, silver, and precious metals IRA.

buying gold and silver with IRA

Once you have funds in your gold and silver IRA you are ready to begin investing in the precious metals. The easiest way to this is with the assistance of your custodian company. They specialize in purchasing gold and silver and managing precious metal investment.

A good custodian company will be able to advise you on the process and can even strike a deal with a precious metals broker on your behalf. All you need to do is complete a ‘Direction of Investment’ form to capture the details of the investment you wish to make and giving instructions to your account custodian to go ahead and make the purchase on your behalf.

Gold & Silver Storage

Once the deal has been agreed, funds will leave your account, and gold or silver to the agreed value will be shipped to a secure storage facility and stored in your name. Precious metals purchased using an IRA cannot be received and stored by the account holder. They will be stored at a secure facility as arranged by your custodian company.

investing in physical goldIRA Gold & Silver Eligibility / Physical Requirements

Not all gold and silver on the market qualify for a self directd precious metals IRA plan. The Internal Revenue Service has laid out the minimum fineness precious metals must meet to be eligible for investment as part of an IRA.

These physical requirements are detailed in section 408(m) of the Internal Revenue Code. Below is a list of some of the most popular irs approved gold and silver investments that meet all the IRC acceptance criteria.

IRA 401 k Eligible Gold

  • American Eagle Coins
  • American Buffalo Coins
  • Austrian Philharmonic Coins
  • Australian Kangaroo Coins
  • Canadian Maple Leaf Coins
  • Credit and Pamp Suisse Gold Bars
  • Other Rounds and Bars minted by national mint, CBOT/NYSE/Liffe, ISE-9000, and Comex/Nymex accredited minters.
  • Note: slabbed coins and proof coins may not meet gold IRA eligibility requirements.

IRA 401 k Eligible Silver

  • American Eagle Coins
  • Mexican Libertad Coins
  • Canadian Maple Leaf Coins
  • Australian Kookaburra Coins
  • Austrian Philharmonic Coins
  • Other Rounds and Bars minted by national mint, CBOT/NYSE/Liffe, ISE-9000, and Comex/Nymex accredited minters.
  • Note: slabbed coins and proof coins may not meet gold IRA eligibility requirements.

Storing IRA Gold & Silver

Precious metals bought using an IRA cannot be stored at home or any other personally accessible safety box. Home storage is not an option and there are no exceptions to this rule. All gold and silver purchased must be stored in an IRS approved storage facility.

The rules for storage of IRA gold and silver are outlined in section 408m of the Internal Revenue Code. The IRC guidelines clearly state that all gold, silver, and precious metals purchased using an IRA must be stored in “the physical possession of a recognized financial institution or IRS approved non-bank such as a depository.”

Security & Peace of Mind

The good news is, storage is not something that should over concern you as this is something that will be organized and managed by your custodian company. The two most popular storage facilities for IRA and 401 k gold and silver are the Delaware Depository and Brink’s Global Services.

For more information on storage, you can read our guide: IRA Gold Storage Requirements

Gold & Silver IRA Custodian Companies

There are many silver and gold IRA custodian companies on the market in 2020.  It’s worth spending some time evaluating them and choosing the one that works best for you. Some offer other precious metal options in addition to gold and silver such as platinum and palladium.

Others support additional asset investments such as cryptocurrency. Cryptocurrency is another alternative asset worth considering if you are planning on diversifying your portfolio. Below is a list of the best companies in the industry in 2020.

Regal Assets

  • Precious Metals Supported: Gold, Silver, Platinum, and Palladium
  • Cryptocurrency Investment Supported
  • Ratings & Reviews: Business Consumer Alliance AAA rating, Better Business Bureau A+, TrustLink
  • 5 Stars based on over one thousand reviews
  • Minimum Investment: $5,000
  • Location: Beverly Hills, CA

Lear Capital

  • Precious Metals Supported: Gold and Silver
  • Rating & Reviews: reputation for good customer service
  • Minimum Investment: $10,000
  • Location: Los Angeles, CA

Noble Gold

  • Precious Metals Supported: Gold, Silver, Platinum, and Palladium
  • Minimum Investment: $2,000
  • Location: Pasadena, CA

Birch Gold Group

  • Precious Metals Supported: Gold, Silver, Platinum, and Palladium
  • Ratings & Reviews: Better Business Bureau A+
  • Location: Burbank, CA


  • Precious Metals Supported: Gold and Silver
  • Ratings & Reviews: Better Business Bureau A+, Consumer Affairs 5 Star based on 200+ reviews
  • Minimum Investment: $25,000
  • Location: Woodland Hills, CA

For more information on the best companies in the industry, you can read our guide: Best Gold IRA Companies 2020.

close up of a gold barInvesting in Gold & Silver

Gold and silver have been used to protect wealth for centuries. They are seen as a flight-to-safety asset and throughout history have been turned to during troubled times and financial crises.

Given the current global pandemic and the fragility of the global economy, many people are turning to alternative assets to protect their wealth into the future. If you own an IRA, 401(k), or other retirement savings account, now could be a good time to consider investing in alternative assets.

Protect Yourself Today

There is no point waiting until the house of cards comes tumbling down. At that point, it will be too late and the value of traditional paper assets will have collapsed. You worked hard for your retirement fund, you need to protect it.

For more information on opening up a precious metal IRA for gold and silver investment, visit our homepage: Regal Assets Gold & Silver IRA Review

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Certified Financial Planner at Camarda Wealth Advisory Group | 800-262-1083 | Website

Dr. Jeffery Camerda, PhD, is a financial planner who specializes in wealth management and retirement planning.

With a PhD in Economics and Financial Planning, Jeffery represents the highest level of financial planning expertise and achievement in the USA

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