Gold IRA marketing repeats a handful of claims often enough that they get treated as settled fact. Three of the most common are worth checking against the actual rules.

Myth 1: A Gold IRA Eliminates Investment Risk

Gold has no counterparty risk (no issuer that can default), but its price still fluctuates, sometimes sharply — it has had multi-year stretches of underperforming inflation and cash. “No counterparty risk” is not the same as “no risk.”

Myth 2: Any Gold Coin Qualifies

Under 26 U.S.C. §408(m)(3), IRA-eligible gold must meet a 99.5% purity minimum, with a narrow statutory exception for American Gold Eagle coins even though they run slightly below that threshold. Popular collectible or numismatic coins often don’t qualify at all.

Myth 3: Opening One Disrupts Your Existing Retirement Plan

A properly executed direct trustee-to-trustee transfer moves funds from an existing IRA into a Gold IRA custodian without triggering taxes, penalties, or affecting your other retirement accounts. The risk only appears with indirect rollovers, which carry 20% mandatory withholding and a 60-day deadline to redeposit the full amount.