Charles Schwab Gold IRA Review

March 7, 2023
Written by Peter Anderson

With the increasing demand for gold in the United States alone, it is no surprise that many individuals are seeking to invest their finances in this valuable resource.

According to the World Gold Council, US investment demand for gold rose by 10% from 2018 to 2019.

As such, Charles Schwab offers a unique opportunity with its Gold IRA review program.

This article will provide an overview of how Charles Schwab’s IRA accounts work and evaluate the pros and cons associated with investing in gold through them.

Charles Schwab is one of the leading financial services companies in America today. It provides access to brokerage accounts, retirement plans, banking services, mutual funds and more.

They have been offering IRAs since 1975. Through these accounts, investors can purchase different types of investments including stocks, bonds and precious metals like gold or silver coins or bars.

The company also offers customers a wide range of options when it comes to investing in physical gold bullion through its Gold IRA Review program.

The Gold IRA Review program allows clients to open an account at Charles Schwab and then buy approved physical gold bullion products directly from select dealers chosen by Charles Schwab’s team of experts.

These transactions are monitored closely so that all purchases meet IRS guidelines as well as any other applicable laws governing investments in precious metals within various jurisdictions throughout the U.S. 

In addition, Charles Schwab also assists investors with selecting suitable custodians who will store their physical assets on behalf of the investor if desired.

Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback. 

Before we get started with this review:

We understand that choosing a company to invest with is an extremely important financial choice; good news for you, we have done all the research and digging in this field for years.

That being said, through our rigorous review process, we have compiled a list of our 5 top gold investment companies for 2022.

>>>Click HERE to Read Our List of the Best Gold IRA Companies in 2023.<<<

Check if Charles Schwab made our top 5 list in 2023! 


Get a FREE Gold Investing Kit from our #1 recommendation by clicking below:

Can I Buy Physical Coins and Bars From Schwab?

Retirement is a time to make wise investments. With Charles Schwab, you can invest in gold as part of your retirement plan.

But what if you want to buy physical coins and bars?

Are these an option with the Schwab Gold IRA?

Schwab offers Exchange Traded Funds (ETFs) that track the prices of specific precious metals, such as gold or silver.

However, they don’t offer cash alternatives such as coins and bars through their Mutual Fund OneSource platform.

You would need to find another provider for those items. Some providers will even let you rollover funds from your current 401(k).

It's important to note that this type of investment isn't always backed by FDIC insurance like some other types of investments may be.

Can I Rollover a Schwab 401k Into a Precious Metals IRA?

As of February 2021, over $7 trillion was invested in IRAs and 401(k)s according to the Investment Company Institute. Investors can rollover funds from their existing Schwab 401(k) into a precious metals IRA.

A mutual fund is required with any traditional IRA or 401(k). With Schwab Bank, customers can open an Individual Retirement Account (IRA) that invests in gold, silver, palladium and platinum coins or bars without paying commissions on trades.

Precious metals IRAs are self-directed retirement accounts that allow investors to hold physical investments such as coins and bullion instead of securities like stocks and bonds.

Schwab offers several different types of IRAs including Traditional IRA, Roth IRA, Rollover IRA and SEP IRA where customers can invest in mutual funds, stocks and more.

Gold has been considered a safe option for many centuries because it maintains its value regardless of market fluctuations.

In addition, when people buy gold they have the ability to convert their assets back into cash quickly since there is usually a strong demand for it. 

Customers should be aware that there may be additional fees associated with opening a precious metals account at Schwab Bank due to storage costs for physically held items.

What Is a Precious Metals IRA?

A precious metals IRA is a special type of retirement account that allows investors to diversify their asset classes and risk profile.

It involves investing in gold, silver and other physical metals as part of an investment goal. 

To be more specific, this type of individual retirement arrangement can hold coins or bars made from different types of metal such as palladium, platinum and gold.

The advantage of the precious metals IRA is that it provides a hedge against economic fluctuations.

Unlike stocks, bonds and mutual funds which have been known to experience market fluctuations due to political instability, inflationary pressures or global events; these assets are not subject to the same volatility risks as traditional investments.

They also help reduce portfolio risk by helping maintain value when other markets plunge.

As with any financial decision though, it's important to understand your goals and consult with an experienced professional before making decisions about your retirement savings.

Why Put Gold in Your IRA?

Investing in gold can be a great way to diversify your investment portfolio. For example, many individuals choose to add gold or other precious metals to their IRA as part of their retirement savings plan.

Investing in gold for an IRA requires careful consideration due to the rules and regulations around investing this type of asset in an Individual Retirement Account (IRA).

Cash allocation, risk tolerance, and time horizon are all important factors when considering adding gold to your IRA.

To invest in gold for an IRA you must consider how it fits into your overall financial goals. Gold has traditionally been seen as a hedge against inflation and provides some protection from market volatility.

Diversifying with different types of investments helps reduce the risks associated with having too much exposure to one particular asset class.

If you have a higher risk tolerance and a longer-term time horizon then investing some of your funds into gold may be beneficial as part of your overall investment strategy.

Benefits of Diversifying Your Investment Portfolio

Investment portfolios are recommended to be diversified in order to reduce risk and maximize return.

Asset allocations refer to how investors divide their assets among different asset classes such as stocks, bonds, cash equivalents, and precious metals like gold. 

Assets under management is a measure of the total market value of investments held by an individual or entity.

Diversifying one’s portfolio with various asset classes can help protect against volatility in any single investment vehicle.

Physical gold can represent a valuable addition to your portfolio when it comes to diversification benefits.

Gold has historically shown low correlation to other common financial markets like equity and fixed income securities, which means that its performance often differs from those markets, even during downturns or recessions.

As a result, adding physical gold into your investment mix may be beneficial for reducing risk while still providing potential returns on your portfolio.

Why Invest in Physical Gold Over Paper Gold?

The gleam of physical gold has long been a symbol of wealth, power and security. Investing in this precious metal is one way to diversify your portfolio - but why invest in it over paper gold? 

Let's explore the benefits of investing in physical gold for your IRA.

When you purchase physical gold, you own an actual asset that can be held or stored securely away from financial markets.

This provides investors with significant protection against economic downturns since their holdings are not subject to market volatility like equities or other securities.

In addition, owning physical gold allows investors to take advantage of its potential appreciation value as a tangible resource.

Gold has historically risen over time due to its scarcity and desirability; this means that when prices rise, there’s opportunity for greater profits if sold at the right price.

And because many jurisdictions exempt physical metals from capital gains tax, some investors may even receive additional savings on their investments!

Physical gold also guarantees liquidity through dealers who buy back coins and bullion at competitive rates; this makes it easier for those looking to liquidate their assets quickly without incurring losses due to fluctuating markets.

Unlike paper-based instruments such as ETFs or futures contracts which require frequent trading fees, holding physical gold carries no investment costs whatsoever apart from acquisition expenses such as storage facilities and insurance premiums (if applicable).

All these factors make investing in physical gold over paper forms of the same asset more attractive than ever before with companies such as CS, Provident Metals, Miles Franklin, USAA, and Golden State Mint.

Paper Gold Poses the Following Risks:

Investing in paper gold has its own set of drawbacks that one cannot ignore. From high fees to volatile prices over time, it's a slippery slope for many investors who are not informed on the subject.

Spectacularly, understanding what risks come with investing in paper gold is paramount when deciding if this asset class is right for you.

Firstly, ETFs or exchange-traded funds trade at much higher costs than physical gold investments.

When compared side by side, the cost difference can range from 3% to 8%, which eats away significantly into your potential returns.

Secondly, fractional shares offer limited liquidity as they cannot be sold easily due to low market demand and trading volume; thus these investment options often have wide bid/ask spreads.

Lastly, volatility over time could lead to huge losses if the price moves against you before you can sell your position.

Ultimately, there are certain areas where paper gold does pose some significant risk factors; however, further research into whether this type of investment works best for an individual investor should still be done before making any decisions about their portfolio allocations.

What Is a Self-Directed Ira?

A self-directed IRA is an individual retirement account (IRA) that allows investors to make their own investment decisions, versus having a financial advisor or broker do it for them.

It's like driving the car instead of riding shotgun - you have full control over your investments and can choose what assets will be held in the IRA. 

Here are three things to know about this type of retirement account:

First, with a self-directed IRA you have access to alternative investments such as real estate, private equity, commodities and more.

This provides much greater flexibility compared to traditional IRAs which generally only allow stocks, bonds and mutual funds.

Second, self-directed IRAs must meet all IRS requirements and can hold FDIC insured deposits accounts at Charles Schwab Intelligent Portfolios.

Lastly, custodian fees may apply for these types of accounts but there are usually no minimum balance requirements or annual maintenance costs associated with them.

This makes a self-directed IRA an ideal choice for those looking to diversify their portfolios beyond conventional options without breaking the bank.

By understanding how this kind of retirement account works, investors can use it as part of their long-term strategy for building wealth and achieving financial freedom.

With that said, let's explore some potential precious metals investments available through a self-directed IRA...

Types of Precious Metals

When it comes to investing in precious metals, you can't go wrong with a Charles Schwab Gold IRA.

But what types of precious metals should you consider? That's the burning question. Fortunately for investors, there are several options out there--including gold, silver, platinum and palladium.

Let's take a closer look at each one now!

Gold is probably the most popular option when it comes to investing in precious metals through an IRA like Charles Schwab's.

It has historically been viewed as a safe haven asset that retains value over time and provides diversification from traditional investments such as stocks or bonds.

Gold also offers protection against inflation due to its finite supply and limited production rate. 

All told, gold remains an attractive investment choice for many people looking to maximize their retirement savings and protect their nest egg.

Silver often gets overlooked compared to gold but it has some distinct advantages that make it worth considering too.

Silver prices tend to be more volatile than those of gold which could result in higher potential returns if you're willing to accept greater risk.

Silver is widely used in industry and electronics so demand may increase during periods of economic growth making it an ideal hedge against possible downturns in other markets. 

Ultimately though, only you know whether silver is right for your portfolio goals; seek professional advice before making any decisions about your retirement plan investments!

Difference Between Bullion and Numismatic Coins

When considering a Charles Schwab gold IRA, it is important to understand the differences between bullion and numismatic coins. Bullion coins are generally made from pure gold or silver, meaning they have no added value beyond their precious metal content.

These coins may also be stamped with limited designs that do not add any significant collectible value either.

On the other hand, numismatic coins can come in many different forms such as rounds, bars and special edition collector’s items.

They often feature unique artwork and historical references which makes them more valuable than standard bullion coins.

Numismatics are highly sought after by collectors due to their rarity, craftsmanship and potential for appreciation over time; however they tend to cost more than regular bullion coins since there is an additional premium associated with these products.

Depending on the type of coin you purchase, some dealers may require extra paperwork or authentication fees before allowing you to make a purchase.

It is critical to research both options carefully so you can determine which option best suits your investment needs when creating a Charles Schwab gold IRA.

What Precious Metals Are Eligible for Gold IRAs?

When it comes to investing in a gold IRA, there are many precious metals that can make the cut.

Just like when you’re putting together an outfit, if the pieces don’t match they won't look right—the same goes for creating an investment portfolio with a Charles Schwab Gold IRA.

To ensure your investments shine bright, here's what you need to know about eligible precious metals for this type of retirement account.

Investing in a gold IRA through Charles Schwab means having access to some of the most popular and valuable precious metals around: gold, silver, platinum, and palladium.

Of these four options, gold is by far the most common choice due to its recognizable value and stability over time.

Silver often follows as it has many industrial uses, but also holds its worth well compared to other commodities.

Platinum may be less commonly seen in IRAs but still makes sense from an investment perspective because it tends to fare better than silver during times of market volatility.

Lastly, palladium is another option though not quite as widely used as the others due to its higher price point and lower liquidity rate.

No matter which metal you choose for your Charles Schwab Gold IRA – or even if you decide on all four - understanding their individual benefits will help build out your golden financial future!

Gold IRA Storage Options

Investors looking to invest in a Gold IRA have different storage options. One of the most popular is through an established financial institution like Charles Schwab, its banking subsidiary, or other qualified custodians.

Meanwhile, investors can also utilize ETFs and mutual funds that are offered by Schwab Intelligent Portfolios Solutions.

These products allow for direct investments into precious metals without having to store them physically.

When considering which option to use for your own gold IRA portfolio, it’s important to consider the fees associated with each method as well as any potential risks involved in investing directly versus using third-party solutions such as ETFs and mutual funds.

Research should be conducted on how these various methods of storage could affect taxes when withdrawing from your account in retirement age.

Doing so will help ensure you make the best decision possible when setting up a Gold IRA.

With all this said, once you've decided on what works best for you, it's time to move your retirement account into a precious metals IRA.

How To Move Your Retirement Account Into a Precious Metals IRA

It is often said that knowledge is power, and when it comes to retirement accounts, this couldn't be truer.

Moving an existing retirement account into a Precious Metals IRA can be quite daunting for the average person without the appropriate financial advice available from Charles Schwab.

In order to successfully move your funds into this type of IRA, one must first become familiar with advisory services such as preferred stocks or annuity contracts.

The process involves setting up a self-directed Individual Retirement Account (IRA) with a custodial firm like Charles Schwab that specializes in handling precious metals investments. 

Once you have opened the account, you will need to fill out paperwork transferring your existing assets over to the new gold IRA.

After all documents are completed and submitted, funding begins by depositing money or securities into the new account after which you can begin purchasing approved metals ranging from coins to bars.

It's important to note that there may be tax implications associated with moving your funds so consulting professionals before proceeding should always be considered.

With any kind of investment decision related to retirement accounts, understanding how withdrawals work under certain rules and regulations is essential for long-term growth potential and security.

IRA Withdrawal Rules

When it comes to IRA withdrawal rules, navigating the waters can be tricky.

Knowing which path to take is essential; understanding the minimum deposit requirements and other necessary information adds an extra layer of complexity. 

As such, taking a look at Schwab SEP IRAs is key in order to understand how one's retirement account could potentially benefit from investing into precious metals.

Just like with any investment, there are certain rules that come along with withdrawing from an IRA or SEP IRA.

For example, those who withdraw funds before turning 59 ½ years old may face penalty fees for early distributions as well as income taxes on whatever amount has been withdrawn.

It's important to remember that these rules apply no matter what type of asset one is invested in - whether stocks, bonds, mutual funds or even gold.

Withdrawal restrictions also vary by financial institution so researching carefully prior to making a choice is imperative if one hopes to make the most out of their investment opportunity.


In conclusion, investing in a Gold IRA could be an advantageous decision for those who wish to diversify their retirement portfolio.

This type of investment provides investors with the opportunity to gain exposure to gold and other precious metals without having to purchase physical coins or bars.

A Precious Metals IRA also allows investors to take advantage of potential tax benefits that may come along with such investments.

Moreover, there are numerous storage options available for those looking to move their existing retirement account into a Precious Metals IRA.

All things considered, investing in a Gold IRA is one way individuals can hedge against volatility in the stock market and protect their financial future while maintaining control over their assets.

You can get a Complimentary Gold Investing Guide from the top gold investing company we recommend by clicking the button above. 

If you'd like a thorough review of the top 5 list, click here:

>>>Click HERE to Read Our List of the Best Gold IRA Companies in 2023.<<<

Or, visit Charles Schwab below: