IRAs are subject to federal laws and restrictions that govern their investments in precious metals. The only precious metals that can be bought in one. We offer trading in gold, silver, platinum and palladium bars, and coins. When trading precious metals, Fidelity only acts as an intermediary. We do not hold stocks of precious metals, nor does Fidelity buy or sell by taking positions on the market.
We send your orders directly to the precious metal investment companies we use, Fidelitrade or ScotiamocattatTM, which buy and sell for us on the precious metals market. Augusta’s two major drawbacks are its limited selection of metals and the high minimum investment requirements for setting up a gold IRA. Certain types of gold coins, gold bars, platinum coins, platinum bars, silver coins, silver bars, and palladium bars are among the approved types. On the other hand, your Fidelity Gold IRA was likely bundled with all the other plans the company offers, with you only controlling the amount of assets in question.
You must store the gold in a gold IRA in an IRS-approved depot. You can’t store it in a safe, a house safe, or under your mattress. The Gold IRA you open with Fidelity is going to be different than any other Gold IRA you’ve come across, and that’s not necessarily a good thing. A gold IRA often has higher fees than a traditional IRA or Roth IRA, which invests exclusively in stocks, bonds, and mutual funds. A first-class IRA Gold company only works with carefully vetted, reputable external storage companies or secured depositories.
The
fact that it takes a long time to find out whether Fidelity even offers a Gold IRA should let you know their priorities. No other Gold IRA company goes to such lengths to present investment information in an organized and objective way to earn the full trust of its customers. The job of a gold IRA company is to make it easier to set up the IRA and buy the gold coins or gold bars. You can invest in gold, silver, platinum, and palladium with a gold IRA from Fidelity when you buy “paper gold investments.”
While most IRA investors invest in more traditional assets such as stocks, bonds, and funds, the tax code allows investments in precious metals such as gold and silver through specialized IRA accounts. Younger investors who have less money to invest in gold are better off with a traditional IRA if they invest in gold equivalents such as gold ETFs or gold mining stocks until they’ve accumulated enough to meet the higher minimum requirements of gold IRAs. There are plenty of other companies you can use if you want to store real gold in an IRA account, even though Fidelity doesn’t offer a self-managed gold IRA.
