Edward Jones Gold & Precious Metals IRA

Last Updated on February 12, 2023 by George

Disclaimer: If you use products or services based on our expert recommendations, we may receive a commission from the links in this post. Please take some time to read our Advertising Disclosure for more information.

Compared to an ever-growing industry of online robot advisors and bargain brokers, Edward Jones, one of the traditional brokerage firms, offers investors a considerably more individualized service.

Full-service brokers like Edward Jones typically charge more significant fees. But whether the investing choices are consistent with it is the most crucial concern about these fees.

With 19,000 advisors dispersed across Canada and the United States, Edward Jones offers professional investment management services and in-person assistance.

Although the fees are costly, they offer numerous resources and top-notch customer support to all kinds of investors.

Before we get started with this review:

We know the difficulty in choosing a business you can entrust with your hard-earned savings. For you to be as informed as possible and come to the best conclusion, we create valuable and educational content.

To make comparing and selecting the company most suited to your needs as simple as possible, we’ve compiled a list of our highest-rated investment firms.

Edward Jones is one of the full-service brokerage firms with operations in both Canada and the United States.

Established in St. Louis in 1922, this company has earned a solid reputation as one of the most dependable portfolio managers that put all its clients first throughout the 20th century.

Before expanding into Canada, the corporation opened branches in the United States. There are currently nearly 19,000 licensed and skilled financial advisors working for Edward Jones, which has more than 15,000 offices.

The percentage may seem odd, but it is related to the company’s desire to constantly serve customers in their communities while offering top-notch services instead of concentrating its offices in major cities.

The founder, Edward Jones, was a famous character in the field of personal finance, and his contributions to the company’s success after a century of business are significant.

Today, revenue sharing and commission payments are the primary means of income for all broker advisors.

A more attentive and committed level of customer service offered by Edward Jones is viewed as being of utmost value by its devoted clients in an era where many customer services are now automated, and the internet brokers commonly point clients to “Knowledge Base” FAQ pages.

This organization’s assets under management (AUM) are close to $1.7 trillion, and it currently has 7 million clients. The company’s primary area of expertise is longer-term investment opportunities.

Edward Jones doesn’t provide a gold IRA to store precious metals.

But don’t worry; we have examined over 215 gold investing businesses that focus on these accounts and created a thorough list of the top ones.

What You Need To Know About A Gold IRA

Individual self-directed retirement accounts, or IRAs, also known as gold IRAs, let investors own gold.

The standard IRAs do not allow you to possess gold in its physical form, but you are still allowed to invest in a variety of assets that have gold exposure, such as gold exchange-traded funds (ETFs) or stocks of gold mining firms.

When you form a self-directed IRA, you can start investing in alternative assets like cryptocurrency, actual precious metals, and real estate.

Regarding contribution caps, withdrawal restrictions, and tax advantages, a gold IRA adheres to the same general laws as traditional IRAs (Roth or traditional).

However, because self-directed gold IRAs hold more complex assets, the IRS has enacted additional record-keeping requirements and tax reporting for these accounts.

What Are Self-Directed IRAs?

The self-directed IRA is an individual retirement account that enables the owner to employ assets for retirement savings prohibited by traditional IRAs.

This covers precious metals, real estate, and cryptocurrencies.

a man perusing a clipboard
Self-directed IRAs adhere to many of the same guidelines as traditional IRAs. For instance, the $6,000 or $7000 yearly contribution cap for those 50 and older remains in place for 2021 and 2022.

Additionally, you can start a self-directed IRA as a regular or Roth IRA, both of which are subject to the same restrictions for pre- and post-tax contributions.

When investing in a normal IRA, the custodian, typically one of two brokerage houses or banks, will restrict your choices to approved securities like mutual funds, ETFs (exchange-funded funds), bonds, or equities.

Some custodians offer self-directed IRAs, which allow you to hold silver ingots, gold bars, and occasionally even cryptocurrency.

Some investors are looking for tax benefits from an IRA when investing in non-traditional asset classes to get a better return or for diversity.

A Custodian Needs to Manage Your Gold IRA

Gold IRAs are not available from traditional or significant brokerage firms.

You will need to track out custodians with experience in managing gold IRAs.

A custodian can assist you with tax reporting and handling the associated documentation to ensure you have complied with the IRS’s standards for retirement planning.

Most crucially, a custodian will handle the storage needs associated with maintaining physical gold bullion and precious metals. Investors who hold precious metals through a gold IRA stored at their residence are not permitted to store those metals privately by the IRS.

The IRS views personal possession of your physical gold from your self-directed IRA as a “withdrawal,” which could subject you to an early withdrawal penalty or taxation.

The IRS has the authority could completely deactivate your account under certain conditions. We advise our readers to stay clear from home storage gold IRAs here at BMOGAM Viewpoints.

According to the regulations governing gold IRAs, you must always store any qualified precious metals with a bank, a third-party trustee, or one of the national depositories that have obtained IRS permission.

To assist you in setting up your gold IRA, your custodian will be able to advise you on the best facilities that have been approved and will handle the transfer of the gold.

Tips on How to Purchase Precious Metals for Your Gold IRA

You must deposit funds into your self-directed Gold IRA once it has been opened to use the account to pay for the purchase of precious metals like gold.

Transferring one of your current retirement accounts to a self-directed IRA is a popular choice. Since the funds will remain in an eligible retirement plan when you choose this option, you won’t be subject to any tax obligations.

two people taking a financial advisor’s advice
After you’ve reached the yearly IRA contribution restrictions, you can also decide to deposit cash each year. You can purchase gold for the Gold IRA with these funds in the account.

What Types of Gold Are You Allowed to Own in a Gold IRA?

The IRS has strict guidelines and restrictions regarding the kind of precious physical metals you are permitted to own in your Gold IRA. You can only purchase gold bars with a purity of at least 99.5%.

To finance your gold IRA, you can buy gold coins like the American Buffalo, American Gold Eagle, Australian Gold Nugget/Kangaroo, and Canadian Maple Leaf.

Collectible Coins Can Not be Purchased to Fund a Gold IRA

According to the IRS, popular gold coins like the South African Kruger Rand and the United Kingdom Sovereign cannot be contributed to a gold IRA. Regarding IRAs, you also cannot invest in any gold collectibles.

Before you transfer any gold into an IRA, you should talk to a custodian about the list of gold items that are allowed.

If you mistakenly enter the wrong amount in a transaction, the IRS won’t accept it and will treat the transaction as a “withdrawal.”

This indicates that you will be responsible for paying the tax based on the value of these things. A further 10% early-withdrawal penalty will be applied if you are under 59 and a half years old.

Why Should You Have Physical Gold in an IRA?

Precious metals, such as gold, have advantages over many other standard investing options regarding asset classes.

A lengthy history of positive financial stability, particularly during economic downturns, enhanced insulation from currency devaluations, and a set supply that cannot and won’t be modified any time soon are just a few advantages of gold.

Continue reading to learn how some well-known and familiar investment classes stack up against precious metals like gold.

The Stock Market vs. Gold

There is always a game of benefit vs. risk when making retirement plans.

Making ensuring the money you’ve accumulated over the years is accessible and maintained when you decide to stop working is ultimately your most essential retirement aim.

When seeking solutions to safeguard and maintain their retirement plans from stock market volatility, wise investors consider their future work with a reliable gold IRA business and diversify their portfolios with assets like precious metals.

To achieve assurance and peace of mind, this is essential. It is always a good idea to set aside cash by investing in a reliable and potent asset class like precious metals.

The U.S. Dollar vs. Gold

Today’s investors are becoming increasingly aware of how quickly the dollar value is declining. Inflation and the government’s QE (Quantitative Easing) programs are critical factors.

Every year, it costs more money to buy everyday necessities we must accept, such as food, clothing, and gasoline.

Simply put, inflation is out of control.

As a result, even though your money may seem secure in a bank account that pays interest or another investment, it loses purchasing power over time as the government keeps printing money to dilute its worth.

Gold is one of the most effective hedges against inflation. However, many investment vehicles tend to be connected to fiat money in one way or another (which means they are exposed to the same price swings as everyday items).

Additionally, it offers a helpful way to maintain and increase purchasing power over time.

The National Debt vs. Gold

The existing national debt is enormous and will continue to rise.

When compared to prior years, the national debt is now perceived by many as being unmanageable and unstable, which has caused alarm in the majority of international theaters and the market.

Physical assets like gold are mainly resistant to many market cycles and can provide a buffer against market instability, which is essential when you want to secure your retirement savings.

Who Should be Investing with Edward Jones?

Typically, investors with better net worth agree with Edward Jones’ higher costs. Additionally, they appear to favor the team’s one-on-one advice.

However, is Edward Jones, the best option for regular investors?

Arguably, this will rely on the investor’s level of expertise. When you select one of the commission-free stock brokers or a cheap robot advisor, you can save money on the advisory fees if you have a solid understanding of how various assets operate and won’t need somebody to hold your hand.

Who is Edward Jones not Suitable for?

Average investors who are merely interested in opening a taxable brokerage account or college savings account frequently discover alternative options to be much more valuable.

Except in cases when you are searching for a long-term solution, the costs do not outweigh the benefits. On several online review sites, customer opinions and feedback for Edward Jones tend to be negative.

Additionally, there are better choices than Edward Jones for investors who want to use a self-directed IRA to gain more control over their retirement savings.

As we’ve already indicated, there are better choices than Edwards Jones for investors wishing to fund their IRA with tangible assets like gold and silver coins.

Pros & Cons


  • Expert Opinion
    You can pick from some experienced and knowledgeable financial counselors at the organization. Additionally, you can locate advisers that share your interests.
  • Individualized Service
    Most platforms in the financial services sector only provide essential customer support. When it comes to Edward Jones, the advisor you select will be a knowledgeable and trustworthy person who will help you manage your finances.
  • Established Company
    Edward Jones has already been in operation for a century. Compared to newer systems, especially those that haven’t been tried, the company is safer.


    • High prices
      Edward Jones’ fees make investments less profitable compared to many other brokers.
    • Advisory accounts only allow ETFs and mutual funds as investment options.
    • For Long-Term Investors Only
      This brokerage’s mission is to support long-term planning.
    • No IRAs in gold and silver
      Investors who want to safeguard their retirement do not have the opportunity to set up a precious metals IRA.

Final Thoughts – Edward Jones Gold & Precious Metals IRA

The term “Gold IRA,” which refers to retirement accounts that contain a combination of precious metals, is most frequently used in this business because gold is one of the more popular precious metals deposited into IRAs (that have been approved).

When picking a traditional 401(k) or IRA with a brokerage firm or a bank, you can have little or little control over your assets.

But when choosing a self-directed IRA, you have complete control over your assets. You may decide whether bullion, bars, and precious metal coins are IRA-eligible for purchase or investment.

Scroll to Top