Provider Analysis · Agreement Verified · June 2026
Charles Schwab gold IRA—here is the direct answer: Schwab’s IRA customer agreement states that the account may not be used to invest in physical metals. If you want physical gold in a retirement account, you generally need a self-directed IRA custodian that specifically supports precious-metals custody. Schwab can offer gold price exposure through gold ETFs inside a standard IRA—but that is shares of a fund, not bars or coins.
Schwab’s IRA customer agreement explicitly prohibits physical metals. The agreement states: the account may not be used to invest in physical metals. This language closes the door on physical gold, silver, and other metals—not just for compliance reasons, but as a matter of account policy.
This is not unique to Schwab. Many major brokerages restrict physical alternative assets in standard IRAs. They are built for securities, not for arranging custody of bars or coins in a depository. The “Charles Schwab gold IRA” shorthand often used online can be misleading—Schwab does not offer this structure.
What Schwab IRA accounts can hold:
What Schwab IRA accounts cannot hold:
The IRS rule is separate from Schwab’s policy, but both point in the same direction. IRC §408(m) says IRAs generally cannot hold collectibles. The exception covers certain eligible bullion and coins—but only when held by a qualifying custodian or trustee with physical possession.
If an IRA buys an ineligible asset, the IRS treats the amount invested as a distribution in the year acquired. That can create ordinary income tax and the 10% additional tax for those under 59½. IRS guidance on collectibles and IRS Publication 590-B
For eligible bullion: certain gold coins and bars meeting IRS fineness standards can qualify. But they must be held by a qualifying custodian—not Schwab, and not the account owner personally.
If you want gold price exposure inside a Schwab IRA, gold ETFs are the cleaner path. Two commonly cited physically backed gold ETFs:
These ETFs trade like stocks inside a Schwab IRA during market hours. They provide gold price exposure without the custodian, storage, and dealer layers of a physical gold IRA. For investors who only want the price return on gold, a gold ETF inside Schwab is simpler and typically cheaper.
For physical gold in a retirement account, you need a self-directed IRA custodian that supports precious metals. That is a different type of account than a standard Schwab IRA.
A specialist SDIRA structure involves:
That structure adds operational complexity and multiple fee layers that a Schwab gold ETF does not. Whether the physical ownership is worth that cost depends on your goals.
| Cost item | Schwab gold ETF (IAU) | Physical gold SDIRA |
|---|---|---|
| Setup fee | None | May apply ($0–$80) |
| Annual admin fee | None (beyond Schwab IRA) | May apply ($75–$300) |
| Storage fee | None | Yes: depository fee ($100–$300/year) |
| Expense ratio | 0.25% annually (IAU) | None (no fund) |
| Dealer spread | ETF bid-ask spread | 5–10% on standard bullion (CFTC) |
| Liquidity | Market hours; simple | Custodian/dealer workflow; slower |
If you have a Schwab IRA and want physical gold, you would need to roll over or transfer funds from Schwab to a specialist SDIRA custodian. Before doing that:
The 2026 IRA contribution limits ($7,500 under 50; $8,600 age 50+) apply to new contributions, not rollovers. A rollover from an existing Schwab IRA is typically not subject to the annual contribution limit, but it must follow IRS rollover rules.
Charles Schwab's standard IRA agreement prohibits certain alternative investments, including physical metals. Schwab's IRA customer agreement explicitly states that the account may not be used to invest in physical metals. If you want physical gold in a retirement account, you generally need a self-directed IRA custodian that specifically supports precious-metals custody—Schwab is not designed for that structure.
Schwab IRA accounts can hold gold-related securities such as gold ETFs (e.g., GLD or IAU), gold mining stocks, and related funds. Schwab also offers commodity-linked ETFs and similar products. What Schwab's IRA agreement prohibits is physical metals in the account. The distinction matters: ETF shares tracking gold prices are very different from physical gold bars or coins stored in an approved depository.
Schwab's IRA customer agreement states that the account may not be used to invest in physical metals. This is not a general industry rule—it is Schwab's specific account policy. If you want gold price exposure in a Schwab IRA, gold ETFs or gold-related securities are the path. If you want physical bullion in an IRA, you need a different custodian.
Under IRC §408(m), IRAs generally cannot hold collectibles. The IRS allows an exception for certain eligible bullion and coins held by a qualifying custodian or trustee. Schwab's prohibition on physical metals in IRAs is separate from the IRS rule—it is Schwab's own account policy. But both the IRS rule and Schwab's agreement point in the same direction: physical gold is not available inside a standard Schwab IRA.
A gold ETF inside a Schwab IRA gives you price exposure to gold through shares of a fund—you don't own the metal directly. A physical gold IRA holds IRS-eligible bars or coins under a custodian/depository arrangement. Gold ETFs are simpler, more liquid, and have lower operational overhead. Physical gold IRAs involve more fees but provide direct bullion ownership inside the IRA structure.
You would need to open a self-directed IRA with a custodian that specifically supports precious metals. That typically involves: a specialist SDIRA custodian; an IRS-eligible metal (confirmed in writing by the custodian); and storage in an approved depository. Fees include setup, annual custodian, annual storage, and dealer spread. The 2026 IRA contribution limit is $7,500 (under 50) or $8,600 (age 50+). Rollovers from existing Schwab accounts follow IRA rollover rules.
Ask in writing: (1) Is the custodian on the IRS approved nonbank trustees list? (2) What exact metals can the IRA hold? (3) Who is the depository? (4) What is the full fee schedule—setup, custodian, storage, buy/sell? (5) What is the buyback policy? (6) What is the transfer timeline from Schwab? (7) Are there termination fees if I close the account later?