Gold IRA education

Questions to Ask Before Opening a Gold IRA

Use this checklist when speaking with a precious metals dealer or IRA custodian.

A concrete example to check

Take written notes during sales calls and request the actual agreement before transferring funds. Ask whether a promotion changes the type of metal supplied, whether the dealer can substitute a product, and whether you can decline the purchase after the account is funded. A reasonable comparison includes a non-metal alternative and the cost of keeping your existing retirement account unchanged.

Costs

What is the total delivered metal price? Which annual, storage, transaction, shipping and closing charges apply?

Custody

Who is the legal IRA trustee, which depository stores the metals and how are holdings documented?

Exit and risks

What is the current buyback quote? How long does liquidation take? What happens if the metal price falls or the dealer stops buying?

Questions for the dealer

What is the exact product and all-in price? What is today's buyback bid? Are there commissions, promotional conditions or substitutions? Request answers in writing before funding.

Questions for the custodian

What are setup, annual, transaction, distribution and closure fees? Which products are accepted? Who holds the bullion and how is it reported?

Questions for yourself

How does this allocation fit your liquidity needs, time horizon and other holdings? Would a lower-cost, more liquid form of gold exposure better serve your purpose?

Before you commit

Get a dated, written purchase quote and a same-day repurchase estimate for the identical product. Identify the legal entities handling sales, account administration and storage. Compare total costs over your intended holding period, not just a promotional headline. Keep copies of agreements and ask an independent qualified professional about personal tax or retirement-account consequences.

Independent references

• IRS: IRA investment and custody rules
• IRS: collectibles and eligible precious metals
• SEC investor alert: self-directed IRA risks

Further reading

• Gold IRA guide
• Gold IRA costs
• Compare providers

Sources to consult

IRS retirement account guidance · Investor.gov. Verify current terms with the relevant provider.

Use a written comparison sheet

For each dealer, record the date, legal entity, exact metal description, purchase price, spot reference, bid price, minimum order, custodian, depository, annual charges and cancellation policy. Leave a cell blank when the dealer will not provide an answer; do not treat a verbal estimate as a fixed contractual term. Ask the custodian directly which products it accepts. Finally, ask a professional who is not paid by the dealer to review any complicated transfer or tax issue.