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Converting an IRA to gold means moving money from an existing retirement account into a self-directed IRA that holds IRS-approved physical precious metals. You can do it with a Traditional IRA, a Roth IRA, a SEP or SIMPLE IRA, and most employer plans, and when the transfer is handled correctly there is no tax and no early withdrawal penalty.
This guide walks through what the process actually looks like, which accounts qualify, what it costs, and how to complete the move without triggering a taxable event.
Yes. A standard IRA at a brokerage typically holds stocks, bonds, and funds. To hold physical metals, you open a self-directed IRA, which is the same tax-advantaged account structure but with a custodian that allows precious metals as an asset.
Every company in our comparison set uses this structure. All ten operate through IRS-approved custodians such as Equity Trust, STRATA Trust, GoldStar Trust, and New Direction, and store metals at regulated depositories including Delaware Depository, Brink's Global Services, and International Depository Services.
The process has five main steps and usually takes one to three weeks from start to funded account.
Start to funded account typically runs one to three weeks.
Open a self-directed IRA
Pick a gold IRA company. They pair you with a custodian such as Equity Trust or STRATA Trust and help complete the application, online or by phone.
Fund it by transfer or rollover
A direct trustee-to-trustee transfer carries no tax and no deadline. A 60-day rollover works too, with tighter rules.
Select your metals
Choose from IRS-eligible coins and bars. Pricing is quoted by your specialist and documented in writing before you approve anything.
Custodian buys and ships to storage
Once funds settle, the metals are purchased and shipped insured to your chosen depository, such as Delaware Depository, Brink's, or IDS.
Manage the account
You get statements, and the custodian handles IRS reporting plus required minimum distributions when they apply.
1. Open a self-directed IRA. You choose a gold IRA company, which pairs you with a custodian and helps complete the application. Some companies allow online setup; others complete the paperwork by phone with a dedicated specialist.
2. Fund the account. You move money from your existing IRA into the new self-directed IRA using either a direct transfer or a 60-day rollover. The direct transfer is covered in detail in the next section.
3. Select your metals. You pick from IRS-eligible coins and bars. Your specialist quotes current pricing, and the terms are documented in a written agreement before you approve the purchase.
4. The custodian buys and stores the metals. Once funds settle, the custodian executes the purchase and the metals ship to your chosen depository, fully insured in transit.
5. Manage the account over time. You receive statements, and the custodian handles IRS reporting and required minimum distributions when they apply.
This is the part that matters most, because the funding method determines whether you owe tax.
Both move money into a gold IRA. Only one has no deadline attached.
Direct Transfer
Trustee to trustee. You never touch the funds.
60-Day Rollover
Funds come to you first, then you redeposit.
Informational only, not tax advice. Confirm your situation with a licensed tax professional before moving retirement funds.
Direct transfer (trustee to trustee). Your current custodian sends the funds straight to your new gold IRA custodian. You never take possession of the money, so there is no withholding, no reporting of a distribution, and no penalty. There is also no limit on how many trustee-to-trustee transfers you can do in a year. For most people converting an IRA to gold, this is the method to use.
60-day (indirect) rollover. Your current custodian sends the funds to you, and you have 60 days to deposit them into the new IRA. Miss the window and the amount can be treated as a taxable distribution, plus a 10% early withdrawal penalty if you are under 59 and a half. The IRS also limits you to one indirect IRA-to-IRA rollover in any 12-month period. Because of these constraints, the direct transfer is the lower-friction path.
For a fuller walkthrough of both funding methods, see our Gold IRA rollover guide.
Most retirement accounts are eligible. Across the companies we track, the account types accepted for a gold IRA include:
Converting a 401(k) to gold follows a similar path but has its own rules, especially around whether your current plan allows an in-service rollover. We cover that separately in how to convert a 401(k) to gold.
Inherited IRAs are more nuanced. A spousal beneficiary generally has more flexibility than a non-spouse beneficiary, and non-spouse inherited IRAs carry their own distribution timelines. If you are working with an inherited account, confirm the specifics with your custodian and a tax professional before moving funds.
Not every gold product is allowed inside an IRA. The IRS sets minimum fineness standards, and the metals must be produced by an approved mint or refiner. The current purity thresholds are:
Metals must meet these minimums and come from an approved mint or refiner.
99.5%
minimum fineness
99.9%
minimum fineness
99.95%
minimum fineness
99.95%
minimum fineness
| Common eligible product | Purity |
|---|---|
| American Gold Eagle | 91.67% |
| American Gold Buffalo | 99.99% |
| Canadian Gold Maple Leaf | 99.99% |
| Gold bars, accredited refiners | 99.5%+ |
| American Silver Eagle | 99.9% |
| American Platinum Eagle | 99.95% |
The American Gold Eagle sits below the 99.5% threshold under a statutory exception written into the tax code. Rare and collectible coins are generally not IRA-eligible and are sold for direct purchase only.
Common IRA-eligible coins include the American Gold Eagle, American Gold Buffalo, and Canadian Gold Maple Leaf, alongside bars from accredited refiners. Rare or collectible coins are generally not IRA-eligible and are sold for direct purchase only. Our IRA eligible gold guide lists the qualifying products in detail.
Yes. A precious metals IRA is not limited to gold. Silver, platinum, and palladium are all eligible when they meet the purity standards above. Some companies offer all four metals, while others focus on gold and silver only. If you want platinum or palladium specifically, confirm availability with the company before opening the account, since metal selection varies across providers.
Costs fall into two buckets: a one-time setup and recurring annual fees.
Ranges reflect the ten companies tracked on this site.
Typical total
$50 to $80
Paid once, at account opening
Tax on a direct transfer
$0
Trustee to trustee, no penalty
| Setup line item | Amount |
|---|---|
| Custodian application fee | $50 |
| Wire transfer fee | ~$30 |
| Dealer setup fee | $0 at some firms |
| Shipping and transit insurance | Often included |
Typical total
$175 to $375
Per year, across the ten firms
First-year waivers
Common
Offered at qualifying account sizes
| Annual line item | Amount |
|---|---|
| Custodian maintenance | $75 to $125 |
| Storage, non-segregated | $100 |
| Storage, segregated | $150 to $175 |
| Depository insurance | Included in storage |
Fees vary by company, custodian, and storage type selected. Confirm current figures directly with the provider before opening an account.
Put together, recurring annual costs across the ten companies run about $175 to $375. Several companies waive the first year of fees for qualifying account sizes. You can model your own numbers with our Gold IRA fee calculator.
IRA metals are held by an approved depository, not at your home. Storing IRA metals personally can be treated as a distribution of the account. You typically choose between two storage types:
Both are fully insured at the depository, with the insurance included in the annual storage fee.
You can convert a Roth IRA to gold the same way you convert a Traditional IRA: open a self-directed Roth IRA and move funds by direct transfer. The move between two Roth accounts is not a taxable event.
Note the distinction between a transfer and a conversion. Moving an existing Roth IRA into a self-directed Roth IRA is a transfer and is not taxed. Converting pre-tax money from a Traditional IRA into a Roth account is a Roth conversion, and that is a taxable event because you are moving pre-tax dollars into an after-tax account. If you are considering that route, run the numbers with a tax professional first.
Potential benefits
Trade-offs to weigh
For a broader look at both sides, see our gold IRA pros and cons breakdown.
This move tends to suit long-term, retirement-focused savers who want a portion of their retirement holdings in physical metals and are comfortable with the associated fees and the multi-step setup. It is less suited to short-term traders, investors who want to avoid all account fees, or anyone who needs immediate access to the underlying funds.
As with any retirement decision, whether it fits your situation depends on your goals, timeline, and tax picture, and is worth discussing with a licensed financial or tax professional.
Can I convert my IRA to gold?
Yes. You open a self-directed IRA that permits precious metals, then move funds from your existing IRA into it. The account keeps the same tax treatment as a conventional IRA.
How do I convert my IRA to gold without penalty?
Use a direct trustee-to-trustee transfer. Because you never take possession of the funds, there is no withholding and no early withdrawal penalty. A 60-day rollover also avoids penalty if you redeposit the funds within the window and stay within the one-per-12-months limit.
How long does it take to convert an IRA to gold?
Most conversions take one to three weeks, depending on how quickly your current custodian releases the funds and how fast the paperwork is completed.
Can I convert an inherited IRA to gold?
Sometimes, but inherited IRAs carry special distribution rules that differ for spouse and non-spouse beneficiaries. Confirm the specifics with your custodian and a tax advisor before moving funds.
Can I store the gold from my IRA at home?
No. IRA metals must be held at an IRS-approved depository. Keeping them at home can be treated as a taxable distribution of the account.
Can I convert only part of my IRA to gold?
Yes. You can transfer a portion of an IRA rather than the full balance, keeping the rest in your existing account.
Before choosing a provider, it helps to compare fees, minimums, and metal selection side by side. Our gold IRA companies comparison lays out all ten in one place, and our gold IRA scams guide covers the red flags to watch for.
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