GOLD IRA

Congratulations!!! If you are reading this you have taken the first step towards doing what thousands of other people have done: work with the dedicated IRA experts at Midas Gold Group to open your gold IRA and put the stability of the world’s oldest lasting currency to work in your retirement plan.

This could be the most meaningful financial decision of your lifetime! We are here to help you. Call us today to find out why we are America’s Most Trusted Gold IRA Company.

WHAT IS A GOLD IRA?

Thanks to the passage of the Taxpayer Relief Act of 1997, American citizens are allowed to own admissible gold inside of their IRA or other qualified retirement plans. This created what is commonly referred to as the Gold IRA, Silver IRA, Platinum IRA, Palladium IRA, Precious Metals IRA, or Physical Gold IRA.

The term Gold IRA is commonly and loosely used to refer to a retirement plan owning physical gold or other precious metals. However, Midas Gold Group works with clients who hold a number of different retirement plans that can be directly used to own gold or can be rolled into a precious metals IRA. These plans include:

  • Traditional IRA
  • ROTH IRA
  • SEP IRA
  • Simple IRA
  • Inherited IRA
  • Rollover IRA
  • 401(k)
  • 403(b)
  • Health Savings Account (HSA)
  • Thrift Savings Plan (TSP)
golden egg

A Gold IRA is no different than any other IRA. You can make your annual contributions (which can be used to purchase more gold). You can sell your gold and move funds to another custodian. You can take distributions the same way. Distributions can be taken in-kind, meaning you can actually take the real gold out of your Physical Gold IRA account, or you can sell the gold and take the funds out in cash. When you convert your IRA to physical gold, you will find it still functions like a traditional paper IRA you may be familiar with.

There are many Gold IRA companies in the country. However, when dealing with your nest egg, you should only deal with the best. At Midas, we pride ourselves on being America’s most trusted Gold IRA company.

We don’t hire commissioned salespeople to push products that are best for the salesperson. At Midas Gold Group, our experts know how to put the client’s needs first.

golden egg

WHY GOLD IN YOUR IRA?

Gold Stands the Test of Time

The numbers don’t lie! Gold was first used as currency around 700 BC and has held value ever since. While gold has maintained value, thousands of currencies and financial systems large and small have collapsed.

There is a good reason why some of the world’s oldest and wealthiest organizations hold large portions of their wealth in gold: The British Royal Family, the Catholic Church, every Royal Dynasty, Central Banks all over the globe, and virtually every sovereign nation.

Longstanding institutions understand that currencies and financial systems crumble over time but gold preserves and grows wealth over time. Why should your retirement and wealth be treated differently? You deserve the ultimate ‘store of value’ in gold!

Gold is Diversification

Gold IRA brochureWise investors understand that markets are cyclical and periods of economic expansion are always followed by market crashes and bear markets. Opening a gold IRA with Midas Gold Group offers a unique level of diversification against events such as stock market crashes, credit contraction, war/geopolitical tensions, and real estate market corrections.

As stock market crashes have inevitably always occurred and will always occur, the wisest investors have always seen gold as a wise place to store profits made during periods of stock market growth. Why ride the peaks and valleys of the stock market again?

Gold is Stability

Few people understand that the US abandoned the gold standard in 1971.

Since that time, $100 invested in bank savings at the normal compounded interest rate would be worth approximately $1,200 today, an increase of 1,200%.

However, $100 dollars invested in gold in 1971 would be worth approximately $5,700, an increase of 5,600%.

With banks now paying historically low interest rates and the growth of money and debt at an all-time high, gold is a sound and wise alternative to cash and traditional assets in your IRA.
Over the long term, gold in your hand has always been and will always be better than excess cash at a financial institution.

Gold Offers Profit Potential

During stock market crashes, periods of rampant inflation, credit crises, and war, gold tends to outperform all other assets. Wise investors who understand that one or more of these events is not only possible but likely to occur, allocate a portion of their retirement funds to gold.

Further, with gold being an indispensable conduit in electronic devices, its industrial consumption has never been higher. As distribution of smartphones grows globally, Apple estimates that there will be more than 6 billion smartphone users by the year 2020. With growing demand and shrinking supply, the price of gold is bound to grow on industrial demand alone.

GOLD IRA ROLLOVER

Just a few minutes on the phone with one of the Gold IRA Experts at Midas Gold Group can have you well on your way to adding owning real physical gold to your IRA.

Have a look at our Retirement Plans page to see if your retirement plan qualifies.

  1. We will help you choose the right IRA custodian for your situation (see our list of custodians).
  2. With your help, we provide you with a pre-filled form to open your new IRA or retirement plan with your new custodian.
  3. We help you with a tax-free direct transfer or rollover from your current IRA custodian or plan administrator.
  4. We help you select your insured depository of choice for the secure storage of your gold. The most popular choices are the Delaware Depository and US Brink’s facilities. You may even qualify to store your physical IRA Gold in Canada or overseas.
  5. With the help of Midas Gold Group Gold IRA experts, your purchase of physical IRA Gold and the delivery that gold to your elected precious metals IRA depository will go smoothly, securely, and privately, giving you the ultimate peace of mind. Your physical IRA gold will be secure and reported on your IRA statement until you decide to withdraw or sell the physical IRA gold.

When you chose Midas Gold Group as your precious metals IRA company, you are dealing with America’s #1 veteran-owned Gold IRA Company. You will receive a level of service and expertise that is unmatched in the industry.

gold IRA protection

We understand that precious metals is not a one-size fits all investment. You should ask you such questions as:

  • Who is the best IRA custodian?
  • What custodian offers the best fees?
  • Which custodian offers me the most flexibility?
  • What precious metals IRA depository is the most secure?
  • Where is my gold most safe?
  • Who insures the gold in my precious metals depository?
  • What types of precious metals should I hold in my IRA?
  • What coins and bars are best for a Gold IRA?

The answers to all these questions depend on you and are dictated by such factors as your account size, your expected holding term before retirement, your risk tolerance, and overall goals. The IRA experts at Midas Gold Group help you answer these and other important questions so you can feel confident and satisfied with your Gold IRA.

Make sure you also read the Precious Metals IRA FAQ section of our website to see what common questions investors such as yourself have about opening their Gold IRA.

IRA APPROVED GOLD

While Internal Revenue Code (IRC) 26 U.S. Code § 408 specifically allows physical gold, silver, platinum, and palladium to be owned inside of an IRA, 31 U.S. Code § 5112 makes very specific limitations on the types of coins and bars that can be owned.

Essentially the IRS established two types of coins and bars that meet the requirement for an IRA:

  1. US Gold American Eagle coins minted after 1985 which include Gold American Eagles and Gold Buffaloes of all sizes (1, ½, ¼, and 1/10 ounce). Proof Gold American Eagles are also IRA permissible assets.
  2. Gold coins and bars with a minimum purity of 99.5%.

The consequences for violations of IRA rules are harsh and include being subject to taxes and penalties. The experts at Midas Gold Group have established thousands of Gold IRA accounts. Our expertise will give you the peace of mind of knowing that an experienced team is there to ensure and stand by the legality of all of your Gold IRA investments.

Plus with the Midas Authenticity Guarantee, you know that you get exactly what you pay for with a guarantee of the mint mark, weight, and purity of each and every gold or silver coin and bar in your physical Gold IRA.

PRECIOUS METALS IRA CUSTODIANS

In addition to having a reputable and trusted gold dealer for your Gold IRA such as Midas Gold Group, you must also have an IRA custodian.

The IRA custodian is a licensed, bonded and insured trust company that reports the assets in your retirement account. All IRAs have custodians with some of the larger being Charles Schwab, Fidelity, T Rowe Price, TD Ameritrade, etc.

These custodians generally hold IRAs invested in paper assets such as stocks, bonds, mutual funds, and annuities. Most traditional custodians do not offer investments in tangible assets such as gold. However, the role of the custodian for your gold IRA is no different and their surety bonds make your investment just as secure. Your Gold IRA Custodian will:

  • Be a licensed custodian with the US Government
  • Provide your secured and insured storage space in a licensed depository
  • Send you quarterly IRA statements and valuations
  • Handle your distribution requests and Required Minimum Distributions (RMDs)
  • Keep your IRA legal and qualified as a retirement plan

The IRA experts at Midas Gold Group have spent decades working with the major Gold IRA Custodians and will be your liaison to set up and fund your account. As your dealer of record with the custodian, we will always be a resource for any dealings you need to have with your custodian including sales of assets, future rollovers, and distributions.

OUR PREFERRED REPUTABLE GOLD IRA CUSTODIANS

Equity Trust Company – #1 PREFERRED

Equity Trust Company (Equity Institutional) is an Ohio-based chartered trust company. As an industry-leading custodian of alternative assets in tax-advantaged accounts with over $25 billion in assets under custody and administration, Equity’s 45-year track record of excellence is unmatched in the industry. Equity is regulated as a South Dakota trust company and complies with all statutes and regulations mandated by the South Dakota Division of Banking.

Kingdom Trust Company

Kingdom Trust Company is a chartered trustee in South Dakota with headquarters in Kentucky. Kingdom Trust was founded in 2010 and has already grown to over $15 billion in assets under management with more than 100,000 accounts.

Strata Trust Company

STRATA Trust Company (STRATA) is a wholly-owned subsidiary of Horizon Bank SSB and is regulated by the Texas Department of Banking. STRATA was founded in 2008 and has more than $1.8 billion in assets under custody.

New Direction Trust Company

New Direction Trust Company is based in Colorado and was founded in 2003. New Direction is a chartered trustee that manages over $2 billion in assets.

As of Q4 2019, Precious Metals IRA holders at New Direction Trust Company will be dealing with a new policy. For any dealer transaction including a buy, sell, or trade of precious metals, the client must sign Buy Direction Letter or Sell Direction Letter. However, no New Direction IRA holder is assigned to a specific dealer, regardless of which dealer assisted the client in the establishment of the IRA account. For each and every transaction, the client will now fill out an Interested Party Designation. This designation is only applicable for a single transaction and will need to be filled out again when the client executes a new transaction.

This is a new policy and appears to be unique in the industry. However, it should remind clients that they are free to seek a competent dealer for every IRA transaction that they execute. Clients should shop for the most competent advice on every transaction as well as the best value. Midas Gold Group is happy to assist any New Direction IRA account holder with any transaction they may need to execute, including buying, selling, trading, or distributions.

GoldStar Trust Company

GoldStar Trust Company is a $2 billion division of Happy State Bank based in Texas. GoldStar Trust Company was founded in 1989 and is the oldest of the major Gold IRA custodians. They act as custodian for more than 37,500 IRAs, a majority of which are Gold IRAs.

SunWest Trust Inc

SunWest Trust was founded in New Mexico in 1997 and acts as trustee for tens of thousands of self-directed IRA accounts around the nation. With over $1.7 billion under management, SunWest Trust is an experienced and very client-service oriented trustee.

When selecting your gold IRA custodian, your decision should be based on such consideration as annual cost (generally dictated by account size and product allocation), reputation, security, service, and ability to meet your needs.

Because of our experience in the industry, we can help you chose your custodian and you can rest assured that we will work effectively with the custodian of your choice for as long as you hold your account.

GOLD IRA CUSTODIAN FEES

Equity Trust Company Custodian Fees
Account SetupAsset Purchase FeeOutgoing Wire FeeAnnual FeeAnnual Precious Metals StoragePrecious Metals Trade/SwapOther Possible Annual FeesOther Possible One-Time FeesAccount Termination FeeExample AccountsLLC (Self-Storage) IRA Option
Online: $50$0$30$80
Delaware Depository (DDSC, Delaware)
Non-Segregated $100Segregated $150
Brink's (Los Angeles, New York, Salt Lake City)
Non-Segregated $100Segregated $150
*Not available for silver*
IDS (Delaware, Texas)
Segregated $100
*Not available for silver*
$0N/A
  • Partial Distribution In-Kind $10 (shipping/handling cost may apply)
  • Paper Statement Fee $40 annually
  • Liquidation Fee of $10/asset (max $30)
  • Late Fee $50/mo (max $100)
$225
  1. $50,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $260
    • Subsequent Years: $180
  2. $250,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $260
    • Subsequent Years: $180
No
Kingdom Trust Company Custodian Fees
Account SetupAsset Purchase FeeOutgoing Wire FeeAnnual FeeAnnual Precious Metals StoragePrecious Metals Trade/SwapOther Possible Annual FeesOther Possible One-Time FeesAccount Termination FeeExample AccountsLLC (Self-Storage) IRA Option
Online: $25
Paper: $50
$75$35$225
Delaware Depository (DDSC, Delaware)
Non-Segregated
  • $1 per $1,000 in value ($100 min.)
Segregated
  • $100,000 or less in value: $225
  • Over $100,000 in value: $225 plus $2 per additional $1,000
A-M Global Logistics (Las Vegas)
Non-Segregated
  • For accounts under $50,000, $100
  • For accounts $50k to $150k, $125
  • For accounts over $150,000, $150
Segregated
  • $1 for every $1,000 ($150 minimum)
Brink's (California, New York, or Utah)
Non-Segregated
  • For accounts up to $250,000, $125 -$0.75 per $1,000 in account value
Segregated
  • For accounts up to $250,000, $175-$1.50 per $1,000 in account value
First State Depository (Delaware)
Non-Segregated Only
  • For accounts up to $125,000, $125 per year
  • For accounts over $125,000, $125 plus $2 per additional $1,000
IDS (Ontario, CA, or Delaware)
Non-Segregated
  • Flat rate of $125
Segregated
  • Flat rate of $250
$75Holding Fee: .25% of account value
(Example, $80,000 account: $80,000 × .0025 = $200)
  • Distribution (via check): $5.00
  • Cashier's Check: $40.00
  • Paper Invoice: $20.00
  • Late Payment: $25/month
$100
  1. $50,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $585
    • Subsequent Years: $450
  2. $250,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $1,235
    • Subsequent Years: $1,100
Yes
Strata Trust Company Custodian Fees
Account SetupAsset Purchase FeeOutgoing Wire FeeAnnual FeeAnnual Precious Metals StoragePrecious Metals Trade/SwapOther Possible Annual FeesOther Possible One-Time FeesAccount Termination FeeExample AccountsLLC (Self-Storage) IRA Option
Online: $25
Paper: $50
$40$25$95
Delaware Depository (Delaware, California)
Non-Segregated $100Segregated $150
*Not available for silver*
Brink's (Los Angeles, Salt Lake City)
Non-Segregated $100Segregated $150
*Not available for silver*
$40N/A
  • Partial Distribution In-Kind $40
  • Partial Distribution Cash $25
  • Late Fee: $25
  • NSF / Returned Check: $50
$250
  1. $50,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $265
    • Subsequent Years: $175
  2. $250,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $315
    • Subsequent Years: $225
No
New Direction Trust Company Custodian Fees
Account SetupAsset Purchase FeeOutgoing Wire FeeAnnual FeeAnnual Precious Metals StoragePrecious Metals Trade/SwapOther Possible Annual FeesOther Possible One-Time FeesAccount Termination FeeExample AccountsLLC (Self-Storage) IRA Option
$50$40$25
  • For accounts up to $100,000, $75
  • For accounts over $100,000, $125
Delaware Depository (DDSC, Delaware)
Non-Segregated $125Segregated $225
A-M Global Logistics (Las Vegas)
Non-Segregated
  • For acccounts under $50,000, $100
  • For accounts $50k to $150k, $125
  • For accounts over $150,000, $150
Segregated
  • $1 for every $1,000 ($150 minimum)
CNT Depository (Bridgewater, MA)
Segregated only
$1 for every $1,000 ($175 minimum)
IDS (Toronto, Dallas, or Delaware)
Segregated Only
  • For accounts up to $80,000, $120
  • For accounts over $80,000, $120 plus $1.50 for every $1,000 over $80,000
Brink's (California, New York, Utah, Toronto, or Singapore)
Non-Segregated
  • For accounts up to $250,000, $125 -$0.75 per $1,000 in account value
Segregated
  • For accounts up to $250,000, $175 -$1.50 per $1,000 in account value
First State Depository (Delaware)
Non-Segregated Only
  • For accounts up to $125,000, $125 per year
  • For accounts over $125,000, $125 plus $1 per additional $1,000
$40N/A
  • Check or ACH Payment: $5.00
  • Paper Invoice: $10.00
  • Distribution (partial or complete) 0.5% (min $25, max $95)
0.5% of value (min $25, max $95)
  1. $50,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $315
    • Subsequent Years: $200
  2. $250,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $465
    • Subsequent Years: $350
Yes
GoldStar Trust Company Custodian Fees
Account SetupAsset Purchase FeeOutgoing Wire FeeAnnual FeeAnnual Precious Metals StoragePrecious Metals Trade/SwapOther Possible Annual FeesOther Possible One-Time FeesAccount Termination FeeExample AccountsLLC (Self-Storage) IRA Option
Online: $50$0$25
  • For accounts up to $100,000, $75
  • For accounts over $100,000, $75 plus $1 for every $1,000 over $100,000 ($275 max)
Delaware Depository (DDSC)
Brink's (California Only)
IDS (Delaware Only)
Non-Segregated Storage (only)
$1 for every $1,000 in account value ($100 minimum)
$0N/A
  • Partial Distribution In-Kind $40
  • Partial Distribution Cash $25
  • Late Fee: $25
  • NSF / Returned Check: $50
$100
  1. $50,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $250
    • Subsequent Years: $175
  2. $250,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $550
    • Subsequent Years: $475
No
SunWest Trust Inc. Custodian Fees
Account SetupAsset Purchase FeeOutgoing Wire FeeAnnual FeeAnnual Precious Metals StoragePrecious Metals Trade/SwapOther Possible Annual FeesOther Possible One-Time FeesAccount Termination FeeExample AccountsLLC (Self-Storage) IRA Option
$50$0$25
  • Standard Precious Metals: $350 (Includes Storage)
  • LLC (Self-Storage) IRA: $275
Delaware Depository (DDSC)
Non-Segregated Storage (only)
$0; Storage cost is included in annual standard precious metals IRA fee
$0N/AOutgoing Check Fee: $10.00$150
  1. $50,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $425
    • Subsequent Years: $350
  2. $250,000 at DDSC, Non-Segregated
    • First Year (& Purchase): $425
    • Subsequent Years: $350
Yes

IF YOU ALREADY HAVE A GOLD IRA

You may be already holding physical gold in an IRA account. However, many clients have found our free evaluation services offered by the Gold IRA experts at Midas Gold Group to be invaluable. We have found that too many gold dealers setup Gold IRA accounts without considering the needs of the individual client. We have found that many dealers:

  • Only work with a single custodian
  • Only offer storage at a single facility
  • Assume predetermined asset allocations between gold and silver without considering the client’s needs
  • Push collector coins and high-margin products
  • Sell illiquid products that may be difficult to sell when the time comes
  • Employ commissioned salespeople who are incentivized to sell certain products, normally low-mintage collectible coins

If you already have a Gold IRA, we offer free consultations to make sure that your IRA is most cost-effective, most secure, and tailored to your individual needs and goals as an investor.

We are happy to offer second opinions on your gold and precious metals IRA assets as well as make sure you are not overpaying for Gold IRA storage costs and fees. Contact us today to schedule your free consultation.

HOME STORAGE GOLD IRA

How would you like to be able to store your physical IRA Gold yourself rather than have it stored at a third party depository? Would you prefer to have your tangible retirement wealth in your own hands?

May investors would, and that’s why many precious metals IRA investors chose to hold their physical IRA gold at home in a “Home Storage Gold IRA” or “Self Storage Gold IRA”.

This structure does not come without some degree of risk. The Home Storage Gold IRA has not been approved or formally recognized by the IRS — formally or in a no-action letter. After years of evaluation, we have determined that while the Home Storage Gold IRA has become popular among many Gold IRA investors and is widely adopted, this structure presents a material financial risk to the IRA owner as the IRS may deem the Home Storage Gold IRA arrangement a “distribution” from the IRA, subjecting the IRA owner to loss of the IRA status as well as taxes and potential penalties.

The Home Storage Gold IRA uses a structure that the IRS now refers to as a “Checkbook Control IRA” or “LLC IRA”. This is an IRA structure whereby an IRA owner directs the investment of his IRA funds into a self-managed Limited Liability Company (LLC). The LLC may then invest in certain assets over which the IRA owner exercises direct control. A series of tax court rulings and IRS letter memorandums have validated the Checkbook IRA structure but a definitive ruling on physical gold in a Checkbook IRA has never been made.

If you are considering a Home Storage Gold IRA, we highly recommend you first consult with your tax professional and make a proper evaluation of the risks we believe are associated with this structure.

The experts at Midas Gold Group fully understand the Home Storage Gold IRA. Our principals were among the first to raise the idea of this structure among Gold IRA Companies in the country.

If you do decide this structure is appropriate for you, provided you sign a waiver, we will help you set up the Home Storage Gold IRA at cost as a courtesy to our clients. Our Home Storage IRA assistance and guidance saves clients thousands of dollars setting up a complex legal structure.

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Midas Gold Group