A self-directed IRA is an Individual Retirement Account (IRA), which allows alternative investments for retirement savings plans such as physical gold or other IRS approved precious metals (such as silver, platinum, and palladium) that are held in custody, by an IRS approved custodian, for the benefit of the self-directed IRA account owner. A self-directed IRA functions in the same manner as a regular IRA, however instead of holding paper assets, you can invest in and hold physical bullion coins or bars in your IRA account.
Since gold is the most common precious metal invested into an IRA, the term “gold IRA” is used the most often in the industry to refer to a retirement account containing any some combination of precious metals. Other terms also used referring to a precious metal IRA include, “precious metals IRA,” “silver IRA,” “platinum IRA,” or “palladium IRA.”
You may have little or no say about your investments when you choose a conventional IRA or 401(k) with a bank or brokerage firm that specializes in bank deposits, stocks, mutual funds, annuities, and other approved assets. But when you open a self-directed IRA with Reliant Assets, you are empowered to make your own investment decisions and choose for yourself which IRA eligible precious metal coins, bullion, and bars to invest in.