Investing in gold could be a good way to safeguard your retirement. But setting up a gold IRA is not as simple as a regular IRA. Plus, the gold IRA business is rampant with scams and scare tactics. So how do you find one you can trust?
In this guide, we review the best gold IRA companies. We will also go over the pros & cons of gold IRAs and common fees.
Gold IRAs are a popular method of investing in precious metals for retirement. Read this guide to find out the benefits and what to look out for.
Gold IRAs are a type of self-directed individual retirement account. You can use them to invest in precious metals like gold, silver, platinum, and palladium. Then you can enjoy the tax advantages that come with an IRA.
But is a Gold IRA right for you? Also , government regulations state that only approved IRA custodians can hold gold. So you must find an approved IRA custodian willing to offer gold and precious metals.
But finding a great Gold IRA company is not too difficult. Many will let you invest in the most common types of IRAs such as Roth, Traditional, SIMPLE, and SEP IRAs. Each one has its unique features but broadly offers tax-advantaged retirement investing.
In this comprehensive review we go analyze the most popular precious metal dealing companies in the United States. We go over their pros and cons and rate them based on different factors, so you can choose the most proper company for your current situation.
But first, you need to know why precious metal IRA is good for your financial future. Or, what are the most prominent benefits of gold IRA? Stay tuned!
Investing in a gold IRA could be a good move if you're nearing retirement. It'll give you more peace of mind to shift from riskier investments (like stocks) to more stable assets (like gold).
While the value of the dollar has decreased over time, gold prices have grown more than the dollar over certain periods of time. If you purchase precious metals through an IRA instead of buying gold directly, you get the tax benefits.
While gold is a good way to diversify and reduce risk, it shouldn't be your entire portfolio. Experts recommend only keeping 5% - 15% of your portfolio in gold.
The biggest argument for gold investments is that gold is a hedge against inflation.
While the value of the dollar has decreased over time, gold prices have grown more than the dollar over certain periods of time. If you purchase precious metals through an IRA instead of buying gold directly, you get the tax benefits.
While the value of the dollar has decreased over time, gold prices have grown more than the dollar over certain periods of time. If you purchase precious metals through an IRA instead of buying gold directly, you get the tax benefits.
When you're entrusting a company with your retirement funds, the most important thing is that you feel comfortable with them. You shouldn't feel like the rep is pressuring you.
It's important that they take the time to answer all your questions. They shouldn't rush you to open an account until you're 100% ready - no matter how many phone calls and meetings it takes.
Call around to a few different precious metals IRA companies. You'll easily get a feel for who makes you feel comfortable. This is a case when you should trust your gut instinct.
When you're entrusting a company with your retirement funds, the most important thing is that you feel comfortable with them. You shouldn't feel like the rep is pressuring you.
It's important that they take the time to answer all your questions. They shouldn't rush you to open an account until you're 100% ready - no matter how many phone calls and meetings it takes.
Call around to a few different precious metals IRA companies. You'll easily get a feel for who makes you feel comfortable. This is a case when you should trust your gut instinct.
Though pricing shouldn't be the most important, it's still something to consider. Unlike regular IRA accounts, precious metals IRAs have annual account fees and storage fees.
The fees usually range from $200 to $300 a year. Plus, there are set up fees when you open the account. You'll probably hold your gold IRA account for years (or even a decade or more). Over time, even a small difference in fees can add up to big savings.
On top of that, each company has their own markup fees for every precious metal transaction. These fees are not disclosed publicly, so you'll have to talk to the rep to find out.
Celebrity endorsements may make a strong impression. But the company should have high ratings from actual users.
Read gold IRA reviews on Better Business Bureau, Trustpilot, Trustlink, Consumer Affairs, Google, and Business Consumer Alliance (BCA). If there are complaints, see how the company resolved them.
Buybacks let you sell the gold back to the gold IRA company. This can come in handy when you're in a pinch and need the cash fast. You don't need to look for your own gold buyer.
A good buyback program can help quell the anxiety because you won't be stuck with your gold. You can quickly sell precious metals and get the money in your account (some as fast as within 24 hours).
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Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the deal
2
Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the deal3
Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the deal4
Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the deal5
Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the deal6
Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the deal7
Founded in 2012, Augusta Precious Metals is a family-owned gold and precious metals IRA provider. It's the best gold IRA company for superior customer service and education.
Before you even sign up, you'll get a free 1-on-1 web session led by their on-staff, Harvard-trained economist. You'll learn about gold, the risks and rewards, and even gimmicks to avoid.
Once you're an Augusta customer, you get lifetime support from their entire team of gold professionals. They don't just leave you on your own after your purchase.
It's no surprise that Augusta Precious Metals has hundreds of 5-star reviews across BBB, Trustlink, and BCA. It's one of the only gold IRA companies with no negative complaints.
It's also the gold IRA that Joe Montana personally uses, chosen by his financial advisors.
The only downside is that the minimum investment is $50,000. This is a lot higher than other gold IRAs, which start at $25,000 or even less. But for those rolling over your 401k or IRA, $50k is probably not a big deal.
Bottom line: Augusta Precious Metals is the best gold IRA company for customer service. They really take education seriously and stand by their lifetime support commitment.
Both founders, Kirill Zagalsky and Adam Baratta, were Senior Account Executives at a national United States Mint listed dealer, specializing in precious metal IRAs.
Get up to $10,000 in free silver on qualifying purchases
click here to get the dealThe biggest argument for gold investments is that gold is a hedge against inflation.
While the value of the dollar has decreased over time, gold prices have grown more than the dollar over certain periods of time. If you purchase precious metals through an IRA instead of buying gold directly, you get the tax benefits.
While the value of the dollar has decreased over time, gold prices have grown more than the dollar over certain periods of time. If you purchase precious metals through an IRA instead of buying gold directly, you get the tax benefits.
Following are the advantages of precious metal IRA investment:
Gold is a hedge against inflation
Gold is less volatile than the stock market.
Investing in gold is a good way to diversify your portfolio.
A gold IRA gives you the same tax advantages as a regular IRA
Gold is a tangible asset you can convert to cash.
Physical precious metals are not reliant upon technology like some investments.
These are the disadvantages of precious metal IRA investment:
Investing in gold requires more initial capital than stocks.
Precious metals IRAs often have higher fees than other retirement accounts.
Gold is less liquid than some investments, and may be harder to sell.
Gold does not provide any dividends or income.
IRA gold must be stored in IRS-approved depositories (not at home).
Opening a gold IRA account is pretty simple. Many of the companies we've discussed here have simplified the process so it's as easy as possible. Here's what you can expect:
Step 1: Sign up
Once you've chosen which precious metals IRA company you'd like to use, visit their website and sign up. They'll ask for a range of personal identifying information.
A precious metals expert will get in touch with you to talk about your options, answer questions, and make sure you feel comfortable about the decision.
If you do decide to go with them, they'll guide you through the process of setting up an account with a gold IRA custodian.
Step 2: Fund transfer
If you have an existing IRA, 401(k), or other retirement account, you can either do a transfer or rollover to your new gold IRA.
A transfer is when you move funds between the same account type (ex: IRA to IRA)
A rollover is between different account types (ex: 401k to IRA)
There will be paperwork to fill out in order to complete the transfer or rollover. Usually, the gold IRA company will help you fill them out. They'll even get in touch with your current IRA custodian.
Step 3: Buy product
One of their experts will help with acquiring precious metals. They will have a range of IRS-approved coins for you to choose from. They will make the purchases for you and place them in your depository.
Many gold IRA providers also function as precious metals dealers and can offer you better prices than you might find elsewhere.
There are several fees commonly associated with a precious metals IRA. It's worth keeping in mind that gold IRAs tend to be more expensive than other, more traditional IRAs. Here are the fees you can expect:
Account Setup Fee: This is a one-time fee charged by some gold IRA companies when you open your account. It typically ranges between $50 and $150.
Annual Custodial/Administrative Fee: Charged by your IRA for managing your account. This also typically ends up somewhere between $50 and $150 per year.
Storage Fee: A fee charged to cover the cost of storing your precious metal coins in a depository. It's usually between $100 and $300 per year.
Gold Markup: The amount that the gold IRA company charges on top of the spot gold prices. Company usually don't disclose their markup on their website, so you'll have to call to find out.
The IRS does not let you self-store IRA gold at home. You can only invest in IRA gold through a custodian. The gold must be stored in an IRS-approved depository.
If you really want to keep some gold at home, there are a couple of options.
You can withdraw from your Gold IRA and have the gold delivered to your home. This will count as a distribution and rules will apply. There will be tax penalties if you withdraw before age 59-1/2.
Or you can purchase gold bullion and coins outside of an IRA and store it at home. There will be no tax advantages, but there's no limit to how much you can buy. And you're not restricted to only certain IRS-approved gold.
There are strict IRS rules for what kind of gold or silver coins you can invest in for precious metal IRAs.
To be eligible for an IRA, gold bullion must have a pureness of 99.5%. The IRA-approved gold bullion and coins include:
American Gold Eagle
American Gold Buffalo
Canadian Gold Maple Leaf
Canadian Gold Eagle
Canadian Gold Polar Bear & Cub
Australian Gold Striped Marlin
Australian Gold Kangaroo
Austrian Gold Philharmonic
Chinese Gold Panda
Silver bullion and coins must have a pureness of 99.9% to be IRA-eligible. This includes American Silver Eagles, America the Beautiful, and Canadian Silver Maple Leaf.
IRA-eligible platinum and palladium coins must have a pureness of 99.95%. You won't get as many choices, but your precious metals specialist will be able to guide you.