Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear below.
Investing in gold and precious metals is more than just a financial decision; it's a strategic move towards securing your future.
As market volatility continues to raise concerns, many are turning to time-tested assets like gold to preserve and grow their wealth. But with so many options available, where do you start?
Enter APMEX, a trusted name in the precious metals industry. In this comprehensive review, we look into the ins and outs of APMEX's Gold & Precious Metals IRA, exploring its features, benefits, and what sets it apart from the competition.
Whether you're a seasoned investor or just beginning your journey, understanding what APMEX offers could be the key to making informed, confident investment decisions.
Stay with us as we uncover everything you need to know about APMEX and why it might be the right choice for your retirement portfolio.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if APMEX passed our strict customer service standards to become one of our top recommendations.
Or
Get a FREE Gold Information Kit from our #1 recommendation, by clicking the button below:
Protect Your Retirement Savings - Tax and Penalty Free!
Apmex Gold and Silver IRA Review
APMEX is a Better Business Bureau-certified business with an A+ rating and an average 4.9-star rating on Shopper Approved.
They sell precious metals of high purity in bars, rounds, and coins.
Their inventory includes products from the world's most respected mints, such as the Perth Mint, the Royal Canadian Mint, and the U.S. Mint.
Their inventory also includes IRA-eligible gold and silver you can invest in with a precious metals IRA. This article looks at APMEX's gold and silver IRA: what it is, how to fund one, what gold and silver you can purchase with a gold and silver IRA, and how APMEX connects investors with precious metals IRA custodians.
Key Takeaways
An APMEX gold and silver IRA allows you to invest in and own APMEX’s IRA-eligible precious metals as assets in your IRA.
Although you can own physical gold (and other precious metals) in your IRA, you cannot physically hold onto the gold. Only an IRS-approved custodian/depository can physically hold your IRA’s gold.
APMEX connects prospective account holders with vetted, IRA-approved custodians.
You can fund your APMEX gold and silver IRA with a rollover from a 401(k) or from other types of IRAs, but there are IRS restrictions to bear in mind.
How the APMEX gold and silver IRA differs from other types of IRAs: traditional vs. Roth.
Intro to the APMEX Gold and Silver IRA
A gold and silver IRA is a precious metals IRA, an individual retirement account with which you can invest and hold precious metals as assets. An APMEX gold and silver IRA gives you access to invest in and hold IRA-eligible precious metals sold via APMEX’s extensive inventory.
You can open a new APMEX gold and silver IRA with a contribution up to the annual limit. The IRS establishes new limits annually. You can confirm the limits with a simple keyword search online.
To invest in IRA-eligible gold and silver from APMEX, APMEX imposes a minimum purchase amount of $2,000.00 (as of this writing). This means you have to purchase a minimum of $2,000.00 worth of IRA-eligible gold per transaction. To sell IRA-eligible precious metals back to APMEX, APMEX imposes a $,1000.00 minimum per offer.
Where to Store Your APMEX Gold and Silver?
Per IRS regulations you must store your IRA’s physical gold and silver with an IRS-approved custodian. The custodian of a gold and silver IRA maintains relationships with IRS-approved depositories. These depositories typically hold onto the physical gold and silver purchased with your precious metals IRA.
The custodian of your precious metals IRA can administer your APMEX gold and silver IRA by helping you:
IRS-approved depositories that hold IRA-eligible precious metals purchased from APMEX include well-known depositories in Delaware, Texas, and Nevada.
In the world of precious metals IRAs, these depositories enjoy tremendous respect and trust. They include the Delaware Depository, IDS of Delaware, TPMD of Texas, and AMGL of Nevada.
Gold and Silver IRA Custodians Affiliated With APMEX
IRS-approved custodians are a must when you have a precious metals IRA. APMEX doesn’t offer in-house custodial services for precious metals IRAs. However, they boast affiliations with a handful of well-established, IRS-approved custodians.
Each custodian offers its unique assortment of benefits. All of them work closely with an IRS-approved depository. Here’s a quick look at three such custodians.
The Entrust Group
In business for 40 years, The Entrust Group has a large, diverse investor pool that’s growing strong, with assets approaching $4 billion. They are an IRS-approved custodian specializing in the self-directed IRA (SDIRA).
Like all custodians, they oversee account admin: the purchase and sale of assets, and recordkeeping (IRS reporting, annual statements).
They feature an online portal for 24/7 access and a SDIRA on-the-go mobile app. Investors have access to a vast online library of articles, whitepapers, webinars/videos, and continuing education.
GoldStar Trust Company
Founded in 1989, GoldStar Trust Company operates out of Texas. More than 60,000 customers utilize their institutional and custodial services, with over $3 billion in assets to their credit.
Their custodial services apply to a selection of IRA types. Their website is straightforward to navigate. In addition to precious metals IRAs, the GoldStar Trust Company also serves as a custodian for IRAs used to invest in real estate, church bonds, crowdfunding, and more.
Their website contains a resource library highlighting investment types and investor awareness. They also furnish prospective investors with key forms, like fee schedules, account applications, and rollover certification.
Strata Trust Fund
Strata Trust Fund is a leading SDIRA company based in Texas. They also claim a roster of investors numbering in the dozens of thousands or more, with 4 billion dollars in assets under custody (as of this writing).
Their bright, user-friendly website makes it a cinch to open and fund an APMEX precious metals IRA. They seek to enrich investor knowledge with their online resource center. It contains links to helpful articles discussing the basics of investing with an IRA. You can also find investment tips and info on market trends.
How to Fund Your APMEX Gold And Silver IRA
After you open your precious metals IRA with an IRS-approved custodian, you have to fund it. There are three main ways to fund your precious metals IRA. You can use cash (or bank wire), a transfer, or a rollover.
Since most precious metals IRA custodians offer remote services, funding your precious metals IRA with cash is an unlikely scenario. However, many precious metals IRA custodians accept a bank wire to fund a new precious metals IRA.
When you fund a new precious metals IRA by transferring custodians, you’re transferring your retirement account from one custodian to the next. This is a non-taxable event. Then there’s the rollover.
A rollover entails funding a new IRA with funds from an existing tax-advantaged retirement plan, employer-sponsored or self-directed. There are two types of rollovers: direct and indirect.
To complete a direct rollover, your retirement plan administrator takes funds from your existing tax-advantaged retirement plan and pays them directly into another IRA or retirement plan.
To complete an indirect rollover, you withdraw all of the funds in your existing tax-advantaged retirement plan, accepting the funds in the form of a check. You then use the check to fund your new APMEX gold and silver IRA.
Current tax laws restrict indirect rollovers to and from IRAs once annually. Further, you must complete your indirect rollover within 60 days to avoid taxation and penalties. The “one rollover per year” rule doesn’t apply to special circumstances, like rollovers from a traditional IRA to a Roth IRA or IRA trustee-to-trustee transfers.
The APMEX Gold and Silver IRA: How it Differs From Traditional and Roth IRAs
The APMEX gold and silver IRA is a precious metal IRA. Sometimes called a gold Roth IRA, it’s a type of SDIRA. When you have a SDIRA, you manage your own investments, deciding what/how much to buy, and when to hold/trade or sell.
Since you decide what investments to make, you can invest in precious metals (provided you have an IRS-approved custodian in place).
Traditional IRAs allow you to make pre- or post-tax contributions. Your contributions grow tax-deferred. Starting in your early 70s, you pay taxes on required minimum distributions (withdrawals) from your IRA.
A precious metals IRA, a type of Roth IRA, allows you to make post-tax contributions. Your earnings grow tax-free. The IRS requires no mandatory withdrawals of IRA earnings.
How Much IRA-Eligible Gold and Silver Should You Buy?
The Precious Metals IRA is still somewhat trend-forward. Investing in precious metals as a hedge against market volatility became a sizzling investment topic after the 2007 to 2009 recession.
As such, experts are still somewhat divided on just how much of your portfolio you should devote to precious metals.
On the whole, experts advise that you devote 5% to 20% of your portfolio to precious metals. How much of that should be gold or silver is up to you. A common scenario is a mixture of the two metals with an emphasis on gold.
APMEX separates its IRA-eligible inventory from all of its other precious metals inventory. This simplifies the process of finding precious metals you can invest in with your IRA. Following is a quick description of popular IRA-eligible gold and silver products.
The American Gold Eagle Coin
Minted annually, the American Gold Eagle is a sought-after coin from the U.S. Mint. Collectors value this coin because the U.S. Mint doesn’t sell it directly to the public. The public must purchase it from an authorized purchaser, such as APMEX.
Collectors also treasure this coin for its iconic design. Lady Liberty walks peacefully across the obverse. Depending on the year, the reverse always depicts a scene involving the American bald eagle.
The Canadian Gold Maple Leaf Coin
An annual product of the Royal Canadian Mint, the Canadian Gold Maple Leaf coin is legal Canadian tender and IRA-eligible. Each coin has a purity value of .9999, making these coins some of the purest gold on the market.
In recent years, the Canadian Gold Maple Leaf coin bore a profile of Queen Elizabeth II on the obverse, and a single maple leaf on the reverse.
The Austrian Silver Philharmonic Coin
First minted in gold in 1989, the Austrian Philharmonic coin also comes in silver. The Austrian Mint uses silver with a purity value of .999, which makes this coin IRA-eligible. The Austrian Philharmonic Coin’s unique design is the brainchild of the mint’s master engraver.
The great organ of the Musikverein concert hall, the home of the Philharmonic, graces the obverse. The reverse features an assortment of instruments: strings, woodwinds, and brass. Like IRA-eligible gold, these IRA-eligible silver coins contribute even more diversity to your portfolio.
When Can You Begin Making Withdrawals Without Penalties?
You can start making withdrawals from your precious metals IRA after your IRA reaches at least 5 years old and you reach 59.5 years old. Withdrawals made before you’re 59.5 years old or before your gold and silver IRA is at least 5 years old will incur taxes and penalties. You can receive withdrawals in a variety of ways.
Your custodian can discuss the details. In most cases, you can liquidate the precious metals in your account and take a full withdrawal in cash. You might want to have your physical precious metals delivered to you? This allows you to hold or sell them as you see fit.
A withdrawal containing your precious metals and the difference in cash is another option. Shopping APMEX IRA-eligible gold and silver ensures you’re getting precious metals of exquisite value. Owing to their value, the IRS requires that an approved custodian hold and secure the physical gold you invest in with your precious metals IRA.
Open an APMEX Gold and Silver IRA Today
To get started with APMEX, open an account with one of their trusted custodians. Fund your APMEX gold and silver IRA. Once you fund your account, you’re ready to start considering the gold and silver you want to purchase.
Remember to read out list of the Top Gold Companies to see if APMEX made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
Or, if you like what you read about APMEX, you can visit their website below.
At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.
