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The safety of your gold IRA depends on the gold IRA company you choose as much as the assets in it.

A Gold IRA (Individual Retirement Account) allows you to invest in physical gold, such as coins or bars while providing tax-advantaged returns over the long-term. 

However, as with any investment decision, risks are involved - in fact, there are multiple gold IRA scams to watch out for... so are gold IRAs safe, and should you consider opening one?

This article will discuss the pros and cons of Gold IRAs from a safety/security standpoint, how to set one up, and what to look out for when investing in order to make an informed decision.


Are Gold IRAs safe - Everything You Need to Know

Gold IRAs are a popular and safe way to invest in precious metals such as gold, silver, platinum, and palladium

Investing in a Gold IRA protects your wealth from inflation, market volatility, and other economic uncertainties. As with any investment vehicle, however, there are certain risks associated with Gold IRAs that need to be considered.

is gold ira safe

First, it's important to understand that the gold in your Gold IRA must be held by a custodian – an independent third party who holds your precious metals securely and keeps them safe from any potential theft or fraud.

The custodian will also handle all paperwork related to your account, such as tax forms, ensuring that your investments comply with the Internal Revenue Service (IRS)


Second, Gold IRAs do not always provide the same level of liquidity as something like crypto or cash.

Investors should be aware that they may not be able to access their funds at any given time, and if they decide to liquidate their positions in the future, it could take some time for them to receive the proceeds from the sale.

On top of that, early liquidations of these investment vehicles generally come with penalties.

The price of gold can be volatile, and investors should be aware that their investments may lose value if the market turns against them.

Investors should also exercise care when dealing with gold IRA companies because there are many gold IRA scams out there. These companies may promise high returns or low fees, but might actually just be out to take your money.

Even reputable gold IRA companies can charge high fees, which can eat into your investment returns. Additionally, some gold IRA companies do not fully understand the IRS rules and regulations, which can lead to problems with your account.

That’s why it’s so important to work with a reputable gold IRA company.

Why It's Safe to Open a Gold IRA

A Gold Individual Retirement Account (IRA) allows you to invest in a variety of physical precious metals in a tax-advanted retirement account. Product choices are aplenty.

A gold IRA is a reasonably safe way to protect your retirement savings, especially in times of economic uncertainty.

Precious metals like gold - commonly referred to as safe haven assets - have held their value throughout history, even during periods of market volatility and especially in times of societal and economic tumult.

why its safe to open a gold ira

Gold IRAs are also backed by the U.S. government, making them a safe retirement option so long as you trust the government.

Unfortunately, assets in the IRA aren't fully protected from creditors and lawsuits, but there is considered to be a partial protection in effect.

In addition, you can easily access your gold IRA at any time. You can transfer funds in and out of the account to pay for expenses or invest in other financial products, penalties for early withdrawal notwithstanding. With a gold IRA, you have full control over when and how you access your retirement savings.

Gold IRAs are relatively easy to open, so there's no need to worry about the complicated paperwork or long wait times that come with other investments. With just a few simple steps, you can open a Gold IRA and start protecting your retirement savings immediately.

You can easily convert any traditional 401K to a Gold IRA, rollover a current retirement account, for fund it with cash.

Why is Investing in Gold a Safe Way to Diversify?

Investing in gold is a popular way to diversify one's portfolio and reduce risk.

Gold has historically been a safe-haven asset, as it maintains its value during economic turbulence or geopolitical uncertainty. It's also an inflation hedge, and it goes up in value relative to how much the purchasing power of paper currency goes down. 

Gold can serve as a value store, meaning it will preserve wealth even if markets crash or economies slow down. Gold is also easily transferable and liquid, making it easier to exchange for goods and services in a crisis scenario.

Investing in gold can also be an excellent hedge against a stock market downturn, providing stability and cushioning against any losses. It's also uncorrelated with most other assets, really only displaying some kind of correlation with other precious metals. 

Since physical possession of the metal can be requested, there is a sort of independence from governments or central banks. This adds an extra layer of security, as gold is not subject to the kind of counterparty risk that stocks and bonds carry. 

Safe Gold IRA Companies - We Reviewed The Best

We’ve reviewed tons of gold IRA companies on this site, and try our best to keep up with the current top providers, with safety being one of our top considerations in the review process. 

These are the top precious metals IRAs we’ve selected: 

augusta precious metals logo

# 1 - Augusta Precious Metals (Most Trusted)

Augusta Precious Metals is our top gold IRA company recommendation. They have a great reputation, are great for high networth individuals, and have been around since 2012. They are almost completely focused on precious metals as their name suggests. Augusta Precious Metals is extremely well rated by both the Better Business Bureau as well as the Business Consumer Alliance. 

How we rated Augusta

We gave Augusta Precious Metals 5 Stars based on a number of factors, including: Team, Pricing, Support, Security, and Selection.


  • Best for high networth individuals
  • 100% 5 stars at ratings firms (as of 2022)
  • Great pricing and waived fees


  • High minimum investment amount ($50K)
  • Less gold selection than some dealers
  • Not as good for beginners
american hartford gold logo

# 2 - American Hartford Gold (Best Customer Service)

American Hartford Gold is easily one of the most trustworthy gold IRA dealers, with near pristine ratings and reviews online, great product inventory, and super a super helpful team with great customer service. It's obvious they care about their customers. On the other hand, if you're looking for platinum or palladium, you're out of luck. We gave AHG 5 out of 5 stars. 

How we rated American Hartford Gold

We gave American Hartford 5 Stars based on a number of factors, including: Team, Pricing, Support, Security, and Selection.


  • Pristine reviews and ratings online
  • Great selection of coins and bullion
  • Lots of great promotions & low minimums


  • Pricing is not transparent on the website
  • No platinum or palladium products listed
  • Unclear if they will price match with competitors
birch gold logo

# 3 - Birch Gold Group (Best Choice For New Investors)

Birch Gold Group is a company with almost two decades of history. They’re gold IRA specialists with a great reputation that charges low fees and has an excellent as well as easy buyback program. Birch Gold Group is recommended for new investors since they’re easy and efficient to work with, have low fees and you can start a gold IRA with them for as low as $10,000. 

How we rated Birch Gold

We gave Augusta Precious Metals 4.5 Stars based on a number of factors, including: Team, Pricing, Support, Security, and Selection.


  • Competitive fees and great pricing
  • Awesome customer onboarding experience
  • Great selection of precious metals


  • Some negative reviews online
  • Large minimum account size
  • Not much info on leadership
lear capital logo

# 4 - Lear Capital (Trusted and Established)

Lear Capital is one of the oldest names in the gold IRA industry. Founded in 1997, Lear has made a name for itself for many years as a trusted provider with a solid reputation in customer support and account management. We recommend them for all your gold IRA needs, but if you're looking for platinum or palladiums, look elsewhere.

How we rated Lear Capital

We gave Lear Capital 4.5 Stars based on a number of factors, including: Team, Pricing, Support, Security, and Selection.


  • Excellent customer service and support
  • Transparent and competitive pricing
  • Easy account opening process


  • High fees for smaller investments
  • Limited focus on gold and silver only

Gold IRAs are Safe - With a Caveat

is gold ira safe

Gold is a tangible asset, meaning that you actually own the gold you invest in.

This can be a psychological advantage for some investors, as it gives them a sense of security.

In addition, gold IRAs are regulated by the IRS, which means that your investment is protected by the secure depository that is used to store the assets in the account.

While there are some risks associated with gold IRAs, such as the price of gold fluctuating, these risks are generally outweighed by the ample benefits. This, of course, only applies if you've chosen a reputable company like Augusta with a good track record and a proven commitment to customer care.

Take a look at our top gold IRA providers here.

About the author 

Sam Rexford

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