You’ll need to provide the information for your new account and the amount you’d like to transfer. Wait for your account administrator to transfer the money to your Gold IRA. Once these funds are received, you can start buying gold and other eligible precious metals. Remember that if you own gold through an IRA, you don’t remain in possession of the bars or coins
.
Once you have a self-directed IRA (which can either be a traditional IRA or a Roth IRA), you can transfer or transfer your money in one of two ways. If you don’t have a self-directed IRA (some people also call it a gold IRA when it comes to precious metals), you can set one up through an approved custodian bank. To invest physical gold in an IRA, you must either already have a self-directed IRA or open one. When making a transfer, you can only transfer money from one type of account to the same account type, such as from a traditional IRA to another
traditional IRA.
With the money transferred or transferred, the custodian bank buys gold or other eligible precious metals on your behalf in the form of IRS-approved gold bars or certain coins.
