How Much Can You Put in a Gold IRA?

Investing gold into an individual retirement account (IRA) may help diversify your portfolio and provide protection during uncertain times. To make an informed decision, consider how much gold you can put in an IRA and the benefits. By knowing how much you can put in, you’ll be better prepared to optimize your retirement savings. 

In this guide, we’ll highlight different providers that allow gold in an IRA, break down the annual contribution limits, and give insights on how to make the most of your investment. 

Best gold IRA companies’ investment requirements

We’ve reviewed the best gold IRA companies to give insight into their investment requirements, customer service, and unique benefits. Choosing the right one could help boost your retirement savings. These companies were chosen because of their high regard and outstanding offerings.  

American Hartford Gold Group

Anthem Gold Group

How much can you put in a gold IRA?

There are two main ways to fund a gold IRA: annual contributions and rollovers or transfers from other retirement accounts. Each has its own guidelines, which we’ll cover in this section.  

IRS annual contribution limits

The IRS sets annual contribution limits for all IRAs, including a gold IRA. As of 2024, the annual contribution limit for people under 50 is $7,000. For people over 50, the limit is set at $8,000. These limits apply across all your IRA accounts, which means you can’t contribute more than this total in a year to your IRA accounts. 

Does the IRS have gold IRA rollover or transfer limits?

One of the biggest advantages of a gold IRA is the ability to roll over or transfer funds from your other retirement accounts. The IRS doesn’t have a maximum limit on the amount you can roll over or transfer into a gold IRA, traditional IRA, or 401(k). This means you can move large amounts of money from your retirement account into a gold IRA without worrying about a cap. 

While there’s no maximum limit, there are some key rules and IRS regulations to follow. Direct rollovers and trustee-to-trustee transfers are generally tax-free. An indirect transfer—when you receive the funds before depositing them into your gold IRA—has 60 days before it faces penalties. It’s worth noting that the IRS only allows one rollover per year. 

The IRS doesn’t set a minimum amount for rollovers or transfers, but individual gold IRA companies may require a minimum investment. 

How to maximize your gold IRA contributions

Here are some tips and strategies to help you make the most of your gold IRA contribution:

Maximize annual contributions

• Contribute the maximum amount each year allowed by the IRS. For 2024, that means up to $7,000 if you are under 50 and $8,000 if you are older.
• Make regular monthly contributions instead of a lump sum at the end of the year. 
• If you are over 50, use the additional $1,000 limit to catch up on your retirement savings. 

Roll over large amounts

• Opt for direct rollovers from other retirement accounts to avoid taxes or penalties.
• Use a trustee-to-trustee transfer to move your funds between IRAs. 
• Plan ahead and consult with a financial advisor to boost your benefits.

Stay informed 

Review your retirement plan regularly and make changes based on market conditions.

Diversify

Diversify your investment within your gold IRA with other precious metals like silver or platinum. 

Plan ahead

Make a plan for future contributions and rollovers.

Ask the expert

Eric Kirste

CFP®

Some critical considerations regarding gold IRAs make this a strategy I don’t recommend for everyone.1) Gold IRAs have higher maintenance fees than other types of IRAs, due to the additional costs associated with investing in gold. 2) If you are near or in retirement,  I often recommend investing in liquid assets that are easy to buy and sell in an IRA account. These are “paper” assets that may own actual gold in a fund format, buy derivatives that represent the ownership of gold, or invest in companies in gold mining operations. Gold can be a small tactical (have in the portfolio when it’s attractive to own) or a small strategic allocation in a well-diversified portfolio. Gold typically exhibits high volatility in its price and is not an income-producing asset. Keeping these items in mind when owning gold will be important for your overall financial goals.

Read More

How does a gold IRA work?

FAQ

Who sets gold IRA contribution limits?

The contribution limits for gold IRAs are set by the IRS. These limits apply to all types of IRAs, including traditional and Roth IRAs, which can be used to fund a gold IRA. The IRS determines the annual contribution limits and adjusts them periodically based on inflation and other factors.

How frequently do gold IRA contribution limits change?

Gold IRA contribution limits can change annually. The IRS reviews and adjusts these limits based on inflation rates and economic factors. While the limits may not change every year, it is common for them to be updated periodically to reflect changes in the cost of living and ensure that the retirement savings opportunities keep pace with inflation.

How we chose the best gold IRA companies

LendEDU evaluates gold dealers to help readers find the best precious metal IRAs and inventories for direct purchase. Our latest analysis reviewed 550 data points from 25 dealers, with 22 data points collected from each. This information is gathered from company websites, public disclosures, customer reviews, and direct communication with company representatives.

These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of the best gold IRA companies