A Gold IRA involves three parties you may never have dealt with before: a precious-metals dealer, a self-directed IRA custodian and a depository. The process is well established and, with a good company, mostly handled for you. Here is the full sequence.
The three parties, and who does what
Gold IRA company (dealer)
Sells you the metal, coordinates the custodian and depository, handles the rollover paperwork, buys back when you sell. Examples: Noble Gold, Augusta, Goldco.
Custodian
An IRS-approved trust company that legally holds the IRA, files Form 5498 and 1099-R, and executes your instructions. Examples: Equity Trust, STRATA Trust.
Depository
An IRS-approved, insured vault that physically stores the metal. Examples: Delaware Depository, IDS of Texas, Brink's.
Step by step
Choose your Gold IRA company (1 day)
This decision drives everything else: fees, which custodian and depository you use, how much pressure you get on the phone. Check the published fee schedule, BBB and Trustpilot records, minimum investment, and whether they sell plain bullion or push high-markup "exclusive" coins. Our 2026 comparison covers the five leading providers. Most people start by requesting a free guide, which triggers a call from a specialist.
Open the self-directed IRA (1 to 3 days)
The company sends you the custodian's application, usually e-signed. You choose Traditional or Roth, name beneficiaries and provide ID. The custodian opens an empty account and issues an account number.
Fund the account (1 to 3 weeks)
Three options:
- Direct rollover from a 401(k), 403(b), 457, TSP or pension. Your old plan sends funds directly to the new custodian. No taxes, no withholding, no 60-day clock. This is the recommended route for employer plans. Full rollover guide.
- Transfer from an existing IRA. Custodian-to-custodian, unlimited frequency, never taxable.
- Cash contribution up to the 2026 limit: $7,500, or $8,600 if you are 50 or older.
The 401(k) step is the slow part; some plan administrators mail a paper check to the custodian.
Select and purchase metals (1 to 3 days)
Once funds land, your specialist presents IRS-eligible products with a locked price quote. Standard choices: American Gold Eagles, Canadian Gold Maple Leafs, 1 oz and 10 oz bars from PAMP, Valcambi or Royal Canadian Mint, American Silver Eagles. You sign a purchase direction letter and the custodian pays the dealer. Approved metals list.
Storage at the depository (ongoing)
The dealer ships the metal, fully insured, to the depository. You choose segregated storage (your exact items in a dedicated space, $150 to $160 a year) or commingled (same type and quantity pooled with others, $100 to $125 a year). The depository confirms receipt to the custodian; you receive a holdings statement. Insurance is typically through Lloyd's of London.
Manage, add and eventually withdraw
You can add metals any time, rebalance between gold and silver, or sell back through the dealer's buyback desk. Required minimum distributions start at age 73 (75 for those born 1960 or later). RMDs can be satisfied in cash by selling some metal, or in kind by shipping coins to you.
Timeline summary
| Stage | Typical time | Who does the work |
|---|---|---|
| Request guide, speak to a specialist | Same day | You |
| Account application and approval | 1 to 3 business days | Company + custodian |
| Rollover / transfer funds arrive | 3 to 21 days | Old plan administrator |
| Purchase metals, lock price | Same day as funding | You + specialist |
| Shipping and depository receipt | 3 to 7 days | Dealer + depository |
| First holdings statement | Within 30 days | Custodian |
Traditional vs. Roth Gold IRA
| Traditional Gold IRA | Roth Gold IRA | |
|---|---|---|
| Contributions | Pre-tax (may be deductible) | After-tax |
| Growth | Tax-deferred | Tax-free |
| Withdrawals | Taxed as ordinary income | Tax-free if qualified |
| RMDs | Yes, from age 73 | None for the original owner |
| Typical source | 401(k) rollover, Traditional IRA transfer | Roth 401(k), Roth IRA, or conversion (taxable) |
Common mistakes to avoid
- Indirect rollovers. Taking a check payable to you triggers 20% withholding and a 60-day deadline. Always request a direct, custodian-to-custodian transfer.
- "Home storage" IRAs. Structures that let you keep IRA gold in a home safe have been struck down (McNulty v. Commissioner, 2021). The full account becomes taxable.
- Numismatic and "proof" coins. Collectible coins are not IRA-eligible, and semi-numismatic products carry 20% to 40% markups. Buy standard bullion.
- Not asking for the spread. Ask "what is your price over spot?" before you buy. A good answer is 3% to 5% on common 1 oz coins.