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Personal Finance Gold

Roth Gold IRA Account: How It Works & Top Companies

Updated Oct 20, 2023   |   6-min read

The top gold IRA company we recommend is American Hartford Gold. There’s any easy 7-day refund policy and the company has great ratings from customers.

Best Online Gold Dealers and IRAs

For many, that means opening a Roth IRA — a type of account that offers tax-free withdrawals once you hit retirement age. You might even consider a Roth gold IRA, which allows you to invest your funds in precious metals like gold, silver, platinum, and palladium. These investments can be smart ways to protect against inflation, grow your retirement account, and diversify your overall portfolio.

If this sounds like an investing strategy you’d like to explore as part of your retirement plan, then read on. This guide will break down everything you need to know about Roth gold IRAs and how they work.

In this guide:

How does a gold Roth IRA work?

A Roth gold IRA is a type of self-directed IRA that you can use to invest in various tangible assets — things like art, antiques, collectibles, and even real estate. Gold and other precious metals are just one of the many things you can purchase using a Roth gold IRA.

With a Roth gold and silver IRA, your contributions are post-tax — meaning you’ll pay taxes on the money before depositing it into your IRA account. This tax model is different from a traditional IRA, which taxes the money upon withdrawal. Typically, a Roth IRA is your best option if you expect to have a higher tax bracket once you retire.

To open a Roth gold IRA, you’ll need a self-directed IRA custodian. They’ll help you open the account, purchase your metals, and handle all the reporting required by the IRS. Once your account is open, you can fund it in a variety of ways, including with cash or via a rollover or transfer from another retirement account, like a 401(k), for example.

>> Read More: How does a gold IRA work?

Gold Roth IRA guidelines

In addition to the post-tax rule, Roth gold IRAs come with a few other guidelines you’ll need to follow, too. For one, there’s a limit to how much you can contribute. With Roth IRAs — and traditional ones, for that matter — you can only contribute up to $6,000 per year if you’re 49 or under and $7,000 annually if you’re 50 or older.

You can continue contributing to your Roth account as long as you would like, even well into retirement. Before 2020, contributions phased out at age 70.5.

Just keep in mind: These contributions aren’t deductible. Because the money has already been taxed, you can’t write Roth IRA contributions off on your tax returns as you can with traditional IRAs.

There are also penalties if you withdraw funds before reaching retirement age. If you take distributions before hitting 59.5, you’ll owe a 10% penalty on the amount withdrawn. The withdrawal may also be taxable as income.

Best Roth gold IRA companies

If you do opt to open a Roth gold IRA, several companies can help you do it. Each one offers slightly different services, fees, and terms, so make sure to compare your options thoroughly before choosing who to go with.

Here are some of our picks for the best gold IRA companies.

Best overall: American Hartford Gold

Best Overall

Editorial Rating: 5 out of 5

  • #1 Ranked Precious Metals Company on the Inc. 5000 for 2021
  • A+ Rating from BBB
  • 5-Star Rating on Trustpilot
  • Outstanding customer service
  • Recommended by Bill O’Reilly, Rick Harrison, Mayor Giuliani & Others
  • Over $1 billion of precious metals delivered with thousands of satisfied customers
  • Lowest Price Guarantee & No Buy-Back Fees
  • Offers up to $10,000 in FREE Silver

American Hartford Gold is a highly-rated gold IRA company that has been in business since 2016.

It takes just three steps to create a Roth gold IRA account. First, you’ll need to speak with a representative to complete the necessary paperwork. Next, you’ll transfer the funds to your account. Lastly, once your funds are received, you can purchase your desired metals and securely store them in IRA-approved vaults.

The company currently has an A+ rating with the Better Business Bureau and a 5 out of 5 rating on Trustpilot, as of September 20, 2022.

Best risk-free guarantee: Lear Capital

Editorial Rating: 4.7 out of 5

  • Take up to 24 hours after placing an order to reconsider without any penalties
  • Offers a price-match guarantee
  • Free evaluation on metals from other companies

Lear Capital stands out for the multiple benefits it offers. These include a price-match guarantee where the company will consider matching better prices found elsewhere, a 24-hour risk-free period to consider your purchase, and online portfolio tracking.

Best for platinum and palladium: Oxford Gold Group

Editorial Rating: 4.6 out of 5

  • Open a gold IRA and purchase gold, silver, platinum, or palladium coins and bars
  • Excellent educational resources
  • Speak to a representative at (877) 544-1523

Oxford Gold Group is a highly-rated gold IRA company that can help you set up your account, fund it, purchase your metals, and safely ship and store your investments over time. If using the company to purchase your precious metals, you’ll have access to gold, silver, platinum, and palladium coins and bars.

The company currently has an A+ rating with the Better Business Bureau and 4.9 stars out of 5 on Trustpilot, as of September 20, 2022.

Best buy-back guarantee: Goldco

Editorial Rating: 4.6 out of 5

  • Open a gold IRA account and purchase gold and silver coins and bars
  • The first-year fee is $260, followed by a $180 annual fee after that
  • There is a minimum investment of $25,000 required

Goldco is another well-rated gold IRA company, boasting an A+ rating with the BBB and 4.8 stars out of 5 on Trustpilot, as of September 20, 2022.

The company offers a plethora of resources and educational content to help you learn about gold and precious metals investing, and customer service is available via several venues, including email, online chat, and over the phone.

Best intro offer: Augusta Precious Metals

Editorial Rating: 4.7 out of 5

  • Opening a new IRA account can qualify you for free gold
  • Requires a minimum of $50,000 in metals to open an account

Augusta Precious Metals is a California-based company that offers gold IRAs and a variety of precious metals, coins, and bullion. You’ll need at least $50,000 in precious metals in order to open an account through Augusta.

Augusta Precious Metals has positive customer reviews (4.95 stars) and an A+ rating from the Better Business Bureau as of April 3, 2023.

Roth gold IRA vs. other account types

Roth IRAs aren’t your only option for retirement savings — or investing in precious metals. Want to be sure you’re choosing the right one? Here’s a traditional vs. SEP vs. Roth gold IRA comparison table that can help:

 Traditional IRARoth IRASEP IRA
Who it’s forAnyoneAnyoneSelf-employed people, small business owners
Tax statusPre-taxPost-taxPre-tax
Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller)
BenefitsAllows you to lower your taxable income nowWithdrawals aren’t taxed in retirementHigher contribution limits
RequirementsMust make less than $66,000 (single) or $105,000 (married, filing jointly) to deduct your total contributionsMust make less than $125,000 (single) or $198,000 (married, filing jointly) to make the total contributionMust be self-employed or work for a self-employed person Employees must work for the business at least three of the last five years

Is a Roth gold IRA worth it?

There are lots of benefits to opening a Roth gold IRA. Not only can it allow you to avoid costly taxes in retirement, but it can also help you build wealth in the long run.

Roth gold IRAs are also a way to diversify your portfolio and mitigate risk in an economic downturn. They can work as a hedge against inflation, too, should the value of the U.S. dollar decline over time.

If you’re considering a Roth gold IRA as part of your retirement plan, make sure to shop around for your IRA company. Use our gold IRA guide to help get you started.