Gold IRA in El Paso County, Texas
Affiliate disclosure: we may earn a commission when a reader opens an account through links on this page. The commission has no effect on what you pay or on what we publish. We are not a financial or tax advisor; consult a licensed advisor for your situation. Last reviewed July 2026.
Short on time? The essentials
- A gold IRA is a self-directed IRA holding IRS-approved physical precious metals instead of stocks or bonds. Silver, platinum, and palladium are also permitted alongside gold.
- El Paso is the county seat of El Paso County, the westernmost major Texas city, situated on the Rio Grande across from Ciudad Juarez, Mexico. Major communities include El Paso, Socorro, San Elizario, Fabens, and Anthony. Any U.S. resident can open a gold IRA with any IRS-approved custodian nationwide.
- Texas has no state personal income tax. Gold IRA distributions for El Paso County residents are taxed at the federal level only, with no Texas state tax layered on top.
- Eligible funding sources include: 401(k) from a former employer, traditional IRA, Roth IRA, 403(b), 457(b), TSP, and pension lump-sum refunds of your own contributions after separation. Annual new contributions are capped at $7,500 for 2026 ($8,600 for age 50 or older).
- Metal must be held at an IRS-approved depository, not at home. A Texas option is the Texas Bullion Depository in Leander, operated by Lone Star Tangible Assets under IRS nonbank trustee approval granted in 2023.
- El Paso County has a significant military presence: Fort Bliss is one of the largest U.S. Army installations in the country, giving many local residents Thrift Savings Plan (TSP) balances that are rollover-eligible after separation. Teachers are TRS members. Municipal employees in El Paso are typically TMRS members.
- Harry’s Coins is a Texas editorial authority. We do not have a store or office in El Paso County or anywhere in Texas.
On this page
- What a gold IRA means for El Paso County residents
- Texas advantages for El Paso County gold IRA holders
- How to open a gold IRA from El Paso County
- Check your rollover eligibility
- IRA-eligible metals: gold, silver, platinum, and palladium
- Storage options for El Paso County residents
- Costs to expect
- Worked example: an El Paso County resident’s rollover
- When a gold IRA is not the right move
- Frequently asked questions
What a gold IRA means for El Paso County residents
A gold IRA is a self-directed individual retirement account that holds physical precious metals. The IRS governs these accounts under IRC Section 408(m) and calls the structure a self-directed IRA, or SDIRA. The contribution limits, distribution rules, and tax treatment are identical to a conventional IRA. The difference is what sits inside: physical metal, not paper securities.
The custodian of an SDIRA must be an IRS-approved nonbank trustee or a bank acting in that role under IRS guidelines. The custodian holds the account, executes metal purchases through a dealer you select, and arranges delivery to an approved depository. No physical metal comes to your home without triggering a taxable distribution.
El Paso County spans the far western tip of Texas, sharing an international border with Ciudad Juarez in the state of Chihuahua, Mexico. The city of El Paso is the county seat and the sixth-largest city in Texas. Other communities in the county include Socorro, San Elizario, Fabens, Clint, and Anthony. The county sits in the Mountain Time Zone, the only major Texas county to do so.
The El Paso County economy is anchored by Fort Bliss, one of the largest U.S. Army installations in the country, along with a large healthcare sector, retail and trade linked to the U.S.-Mexico border, and a growing university presence through the University of Texas at El Paso (UTEP). Your county of residence does not restrict which gold IRA custodian or dealer you work with; Texas residency shapes the state tax picture at distribution time.
Texas advantages for El Paso County gold IRA holders
Texas does not impose a state personal income tax. Article 8, Section 24 of the Texas Constitution, reinforced by Proposition 4 in November 2019, requires a two-thirds supermajority in the Legislature plus a statewide referendum before a state personal income tax can be enacted. That structural protection makes the advantage unusually durable.
For an El Paso County resident, the result is a shorter tax stack at distribution time. A required minimum distribution, an early withdrawal, or a Roth conversion from a gold IRA is reported on federal Form 1099-R and taxed on federal Form 1040 only. No Texas state return captures personal IRA income. No Texas state withholding appears on the 1099-R.
The gap against high-tax states is real. A New Mexico retiree just across the state line pays New Mexico state income tax on IRA distributions. Rates there range up to 5.9 percent (2026). An El Paso County retiree taking the same distribution owes $0 to Texas. For retirees with large IRA balances taking distributions over many years, that gap produces material after-tax income available to pass to a spouse or the next generation.
The second Texas advantage is the Texas Bullion Depository in Leander, approximately 570 miles east of El Paso. It is the only state-administered and state-audited precious-metals depository in the United States. Lone Star Tangible Assets operates the facility under IRS nonbank trustee approval granted in 2023, which allows IRA-titled metal to be held there. Distance from El Paso County does not affect how the depository functions for IRA holders; all transactions are handled by the custodian and dealer.
How to open a gold IRA from El Paso County
The process follows the same five-step sequence for any U.S. resident. El Paso County context is noted where it applies.
- Confirm your funding source. Identify the account you plan to use: 401(k) from a former employer, traditional or Roth IRA, 403(b), 457(b), or TSP. El Paso County has a large military population. Fort Bliss, home to the 1st Armored Division and other units, employs tens of thousands of active-duty soldiers and civilian workers. Separated veterans and retired military personnel often carry Thrift Savings Plan (TSP) balances that are rollover-eligible. Teachers at El Paso ISD, Socorro ISD, Canutillo ISD, and other El Paso County school districts are TRS members. Municipal employees of the City of El Paso are typically TMRS members. An active employer plan generally cannot be rolled until you separate, unless the plan allows in-service withdrawals after age 59 and a half. Confirm your specific plan terms with the plan administrator before proceeding.
- Choose an IRS-approved self-directed IRA custodian. Custodians specializing in precious metals include Equity Trust Company, STRATA Trust Company, GoldStar Trust Company, and Madison Trust. Compare annual fees, account minimums, and depository relationships. Equity Trust is currently the first custodian publicly coordinating with the Texas Bullion Depository in Leander for IRA assets.
- Open the SDIRA and initiate the rollover or transfer. Complete the custodian’s account application. For a rollover from a 401(k) or TSP, request a direct rollover: the plan sends funds directly to the custodian (Code G on Form 1099-R, no federal tax, no 10 percent penalty). For a trustee-to-trustee IRA transfer, the sending custodian moves funds directly. Both methods avoid the 60-day clock and the 20 percent mandatory withholding that apply to indirect rollovers.
- Select IRS-approved precious metals with a dealer. The custodian executes the purchase based on your instructions. Confirm the metal meets the fineness standards in IRC Section 408(m). Common bullion coins and bars typically carry a 1 to 5 percent markup over spot; premium proof sets carry markups far higher and should be evaluated carefully against their spot equivalent.
- Arrange delivery to an IRS-approved depository. The dealer ships metal directly to the depository under your SDIRA account. Options for El Paso County residents include the Delaware Depository, Brinks Global Services, CNT Depository, International Depository Services (IDS, with a Texas facility in addition to Delaware), and the Texas Bullion Depository in Leander. Metal cannot pass through your hands without triggering a taxable distribution under McNulty v. Commissioner (2021).
Check your rollover eligibility
The most common path to fund a new gold IRA is a rollover or trustee-to-trustee transfer from an existing qualified account. The calculator below helps you confirm whether your account type is eligible and what a direct rollover looks like in practice.
Texas has no state income tax. Your federal tax estimate on a properly executed direct rollover is your total tax estimate: $0 in tax when done as a direct transfer. Consult a licensed tax advisor for your specific situation.
Can you roll your account into a gold IRA? Eligibility checker
Most retirement money can move into a gold IRA once it is an eligible rollover distribution. Pick your account and situation for a general answer. Always confirm the specifics with your plan administrator or custodian.
General guidance only, not tax or financial advice. Eligibility depends on your specific plan document and IRS rules; confirm with your plan administrator and a tax advisor. A direct trustee-to-trustee transfer avoids the 60-day rule and 20% withholding.
Picking a company that explains every fee up front is the first step. Get the free gold IRA company checklist.
IRA-eligible metals: gold, silver, platinum, and palladium
IRC Section 408(m) sets the eligibility floor. Collectibles are generally prohibited inside an IRA, but Congress carved out an exception for bullion and coins meeting minimum fineness standards. The informal term “gold IRA” covers all four IRS-approved metals.
| Metal | Minimum fineness | IRA-eligible examples | Common exclusions |
|---|---|---|---|
| Gold | .995 (99.5%) | American Gold Buffalo (.9999), Canadian Gold Maple Leaf (.9999), gold bars from NYMEX/COMEX or LBMA-approved refiners | South African Krugerrand (.9167, no statutory exception), numismatic and graded coins |
| Gold (statutory exception) | .9167 (22-karat) | American Gold Eagle (bullion and proof), named in IRC 408(m)(3)(A) by statute regardless of fineness | No other 22-karat gold coin shares this statutory exception |
| Silver | .999 (99.9%) | American Silver Eagle (statutory exception), Canadian Silver Maple Leaf (.9999), silver bars from approved refiners | Pre-1965 “junk” silver coins, silver rounds below .999 fineness |
| Platinum | .9995 (99.95%) | American Platinum Eagle, Canadian Platinum Maple Leaf, platinum bars from approved refiners | Platinum coins below .9995 fineness |
| Palladium | .9995 (99.95%) | American Palladium Eagle, Canadian Palladium Maple Leaf, palladium bars from approved refiners | Palladium coins below .9995 fineness |
Source: IRC Section 408(m)(3). Bars must be produced by a NYMEX/COMEX-approved, LBMA-approved, or national-mint-accredited refiner. Proof coins must be in original mint packaging with a certificate of authenticity. Checked July 2026.
The American Gold Eagle is the most consequential exception. Its gold content is .9167 (22-karat), below the .995 floor. Congress named it explicitly in IRC Section 408(m)(3)(A) in 1997, making it IRA-eligible by statute. The South African Krugerrand is also .9167 but was not given that statutory exception, so it is not IRA-eligible.
Numismatic or graded coins purchased for collector value are not IRA-eligible. High-premium proof sets carry markups that can run 30 to 100 percent over spot. Sticking to standard bullion products minimizes markup exposure and keeps the account closer to the metal’s actual market price.
Storage options for El Paso County residents
IRS rules require that precious metals held in an IRA be in the physical possession of a bank or an IRS-approved nonbank trustee. Keeping gold IRA metal at home or in a private safe deposit box constitutes a taxable distribution in the year the metal leaves the depository’s custody.
The landmark ruling on this is McNulty v. Commissioner (2021). The U.S. Tax Court held that home delivery of IRA gold coins triggered a taxable distribution on the full account value.
| Depository | Location | Notes |
|---|---|---|
| Texas Bullion Depository | Leander, TX (approx. 570 mi east of El Paso) | State-run, audited by Texas Comptroller; operated by Lone Star Tangible Assets under IRS nonbank trustee approval (2023); segregated storage only; Lloyd’s of London insurance; Equity Trust is first IRA custodian partner. Verify current custodian list at texasbulliondepository.gov. |
| International Depository Services (IDS) | Texas (also Delaware) | IRS-approved; Texas facility option for residents preferring in-state private storage. Works with multiple custodians. |
| Delaware Depository | Wilmington, DE | One of the most widely used SDIRA depositories nationwide. Segregated and commingled storage options. Works with most major custodians. |
| Brinks Global Services | Multiple U.S. locations | Large global security firm; works with multiple custodians for segregated precious metals storage. |
| CNT Depository | Bridgewater, MA | IRS-approved for IRA metal storage; used by several gold IRA dealers and custodians. |
Depository information compiled from public custodian disclosures and texasbulliondepository.gov, checked July 2026. Physical proximity to El Paso County is not required; all coordination is handled by your custodian.
Costs to expect
Gold IRA costs run in layers. Each layer is paid to a different party: the custodian, the depository, and the dealer. None appear on your statement the way mutual fund expense ratios do. Understanding each fee before opening is the single most important financial step in the process.
| Fee type | Who charges it | What it covers | Typical range |
|---|---|---|---|
| Account setup fee | Custodian | Opening the SDIRA and processing the initial rollover or transfer paperwork | $0 to $300 (one-time) |
| Annual custodian fee | Custodian | Account administration, record-keeping, IRS reporting (Form 5498, Form 1099-R) | $75 to $300 per year |
| Storage fee | Depository | Secure vault storage, insurance, and audits. Segregated storage costs more than commingled. | $100 to $300 per year or 0.1% to 0.3% of account value |
| Dealer markup | Precious metals dealer | The spread between spot price and your purchase price. Varies by product and dealer. | 1% to 5% over spot for common bullion; far higher for proof or premium coins |
| Transaction fee | Custodian or dealer | Charged per buy or sell transaction inside the account | $0 to $40 per transaction |
| Wire transfer fee | Custodian | Moving funds in or out by bank wire | $0 to $40 per wire |
Fee ranges compiled from custodian fee schedules published by Equity Trust, STRATA Trust, GoldStar Trust, and Madison Trust, checked July 2026. Your actual fees depend on the custodian and depository you select. Request the full fee schedule in writing before opening an account.
The chart above shows how fixed annual fees affect different account sizes. A $400-per-year combined fee represents a 1.33 percent annual drag on a $30,000 account but only 0.40 percent on a $100,000 account and 0.08 percent on a $500,000 account. Smaller balances carry the highest fixed-cost pressure relative to account value.
Worked example: an El Paso County resident’s rollover
When a gold IRA is not the right move
Cases where the gold IRA math works against you:
Small account balance. On a $15,000 account, $300 in combined annual fees represents a 2 percent annual drag before any dealer markup. That level of fixed-cost pressure requires significant appreciation just to break even on fees alone. Gold IRA economics improve meaningfully at higher balances.
Short time horizon. If you expect to need the funds within five years, the dealer markup on the buy side combined with transaction costs on the exit compresses the window for any potential benefit. Gold IRAs work best as long-hold positions within a broader retirement plan.
Heavy markups on proof or premium coins. Some dealers push premium proof coin sets carrying markups of 30 to 100 percent over spot. Sticking to standard bullion products at markups close to spot avoids this problem entirely.
Early withdrawal before age 59 and a half. The federal 10 percent additional tax on most early distributions applies regardless of Texas residency. On a $60,000 early withdrawal, the federal penalty alone is $6,000 before income tax. Texas removes no portion of that federal cost.
Active employer plan with no in-service rollover option. Most 401(k) and TSP plans do not allow rollovers while you are still employed or on active duty, unless the plan permits in-service withdrawals after age 59 and a half. Fort Bliss military personnel on active duty cannot roll their TSP into a gold IRA while still serving. Verify your specific plan terms before beginning any rollover process.
Ongoing TMRS pension annuity. If you receive a monthly pension annuity from the Texas Municipal Retirement System through a City of El Paso employer, that payment stream cannot be rolled into a gold IRA. Only a lump-sum refund of your own member contributions after separation, if your municipality offers one, may qualify. Confirm your specific TMRS account options with TMRS directly and consult a licensed tax advisor before taking any action.
TRS ongoing annuity. A teacher already receiving a monthly TRS annuity cannot roll that stream into a gold IRA. A lump-sum partial withdrawal under TRS rules, where available after separation, may be rollover-eligible. Verify your specific TRS plan options with the Teacher Retirement System of Texas directly.
Frequently asked questions
Does Texas tax gold IRA distributions for El Paso County residents?
No. Texas does not impose a state personal income tax. A gold IRA distribution taken by an El Paso County resident, whether a required minimum distribution, an early withdrawal, an in-kind distribution, or a Roth conversion, is taxed at the federal level only. There is no Texas state income tax return for personal IRA income and no Texas withholding on Form 1099-R.
Can I roll over my TSP from Fort Bliss service into a gold IRA?
Yes, after separating from service. A TSP account held by a separated or retired service member can be rolled directly into a self-directed IRA. A properly executed direct rollover triggers no federal tax and no Texas state tax. Active-duty personnel generally cannot roll their TSP while still serving, unless specific plan rules allow an in-service withdrawal after age 59 and a half. Verify your specific TSP plan rules at tsp.gov before proceeding.
Can I roll over a 401(k) from an El Paso employer into a gold IRA?
Yes, in most cases after separating from the employer. A 401(k) at a former employer can be rolled directly into a self-directed IRA. Some plans also allow in-service rollovers after age 59 and a half while still employed. A properly executed direct rollover triggers no federal tax and no Texas state tax. Verify your specific plan terms with the plan administrator before proceeding.
Can I roll over my TMRS account from the City of El Paso into a gold IRA?
TMRS is a defined-benefit pension plan. An ongoing monthly TMRS annuity cannot be rolled into a gold IRA. If you separated from the City of El Paso before vesting and received a refund of your own member contributions, that refund may be rollover-eligible into an IRA. Confirm the specifics with TMRS directly and consult a licensed tax advisor before taking any action.
What about TRS for teachers in El Paso ISD and Socorro ISD?
Teachers and education employees in El Paso County public school districts are TRS members. An ongoing monthly TRS annuity cannot be rolled into a gold IRA. A lump-sum partial withdrawal, where allowed under TRS rules after separation, may be eligible for rollover. Confirm your options directly with the Teacher Retirement System of Texas and a licensed tax advisor before proceeding.
Where would my gold IRA metal be stored if I live in El Paso County?
At an IRS-approved depository, not at home or in a safe deposit box. Options include the Texas Bullion Depository in Leander (approximately 570 miles east of El Paso), IDS with a Texas facility, the Delaware Depository, Brinks Global Services, and CNT Depository. The Texas Bullion Depository is state-run and state-audited, operated by Lone Star Tangible Assets under IRS nonbank trustee approval granted in 2023. Physical proximity to the depository is not required; all coordination is handled by your custodian.
What is the minimum to open a gold IRA?
There is no IRS-mandated minimum. In practice, custodians and dealers often set minimums in the $5,000 to $50,000 range. On small balances, fixed annual custodian and storage fees represent a high percentage of account value each year, which erodes the financial case for holding a gold IRA at lower balances.
How are required minimum distributions handled in a gold IRA?
RMDs begin at age 73 for those born between 1951 and 1959, and at age 75 for those born in 1960 or later (effective 2033, per SECURE 2.0). Two options satisfy an RMD from a gold IRA: sell metal inside the account to distribute cash, or take an in-kind distribution of physical metal at fair market value on the distribution date.
For El Paso County residents, the RMD is taxed federally only, with no Texas state income tax. Source: SECURE 2.0 Act, IRS Publication 590-B, checked July 2026.
Ready to compare your options?
If you have at least $50,000 in a rollover-eligible account and want a structured starting point, Augusta Precious Metals publishes a free gold IRA checklist covering the steps from rollover eligibility through depository selection. We earn a commission if you open an account, at no cost to you. Consult a licensed tax or financial advisor for your specific situation.
Sources
- Internal Revenue Code Section 408(m). Collectibles prohibition and bullion and coin exceptions. Office of the Law Revision Counsel. uscode.house.gov. Checked July 2026.
- Internal Revenue Service. Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs). irs.gov/publications/p590a. Checked July 2026.
- Internal Revenue Service. Publication 590-B: Distributions from Individual Retirement Arrangements (IRAs). irs.gov/publications/p590b. Checked July 2026.
- Internal Revenue Service. Retirement Topics: IRA Contribution Limits. Standard limit $7,500 and catch-up $1,100 for age 50 or older (2026 tax year). irs.gov. Checked July 2026.
- Internal Revenue Service. Topic No. 558, Additional Tax on Early Distributions from Retirement Plans. 10 percent penalty on most distributions before age 59 and a half. irs.gov/taxtopics/tc558. Checked July 2026.
- McNulty v. Commissioner, 157 T.C. No. 10 (2021). Home-storage gold IRA ruling. U.S. Tax Court. ustaxcourt.gov. Checked July 2026.
- Texas Constitution, Article 8, Section 24 (as amended by Proposition 4, November 2019). State personal income tax prohibition. statutes.capitol.texas.gov. Checked July 2026.
- Office of the Texas Comptroller of Public Accounts. Texas Taxes overview. No state personal income tax confirmed. comptroller.texas.gov/taxes. Checked July 2026.
- Texas Bullion Depository. IRA Storage Services. LSTA IRS nonbank trustee approval confirmed 2023; Equity Trust named as first IRA custodian partner. texasbulliondepository.gov/ira-storage. Checked July 2026.
- Texas Legislature. House Bill 483, 84th Regular Session (2015). Texas Bullion Depository Act signed by Governor Abbott on June 12, 2015. capitol.texas.gov. Checked July 2026.
- Internal Revenue Service. Approved Nonbank Trustees and Custodians. Includes Lone Star Tangible Assets. irs.gov/retirement-plans. Checked July 2026.
- SECURE 2.0 Act of 2022. RMD age changes: age 73 for those born 1951 to 1959, age 75 for those born 1960 or later (effective 2033). congress.gov. Checked July 2026.
- Thrift Savings Plan. Withdrawals and Rollovers. TSP rollover eligibility after separation from federal service. tsp.gov. Checked July 2026.
- Texas Municipal Retirement System (TMRS). Plan overview and participating cities. Defined-benefit pension for participating Texas municipal employees. tmrs.com. Checked July 2026.
- Teacher Retirement System of Texas (TRS). Member benefits and withdrawal options. Defined-benefit plan for Texas public education employees. trs.texas.gov. Checked July 2026.