Table Of Contents
- 1 Best Gold IRA Companies Reviewed
- 2 Gold IRA Companies Review Summary
- 3 Choosing Gold IRA companies
- 4 Benefits and Risks For Gold IRAs
- 5 How To Invest In A Gold IRA
- 6 GOLD IRA ROLLOVER
- 7 Final Thoughts
Is investing in a Gold IRA as part of your retirement portfolio right for you? Gold is an appealing asset for retirement investment. It allows you to diversify your retirement portfolio, and many people consider it a hedge against volatility.
Investors pursue safe-haven investments like precious metals iras, especially when the stock market gets rough. Precious metals like gold, silver, and palladium are prone to certain forms of volatility. However, they still provide an excellent long-term investment choice for retaining and growing value.
I have taken a look at the many gold ira companies out there and compiled a list of what I think are the best gold ira providers. I have done this based on the criteria of five key points. I appreciate these points may not be what everyone uses when looking for a gold ira company, but using these particular points, enables me to get a general overview to determine, in my opinion, the best gold investment companies.
- The overall rating they have on sites such as Better Business Bureau, Business Consumer Alliance, and Trust Pilot.
- The fees they charge.
- The level of investment education they offer.
- The quality of customer service based on reviews and customer feedback.
- The ease of purchase and setting up of gold ira accounts.
So based on that criteria, I have found the top five companies.
Best Gold IRA Companies Reviewed
#1 American Hartford Gold – Best Overall & For Precious Metals BuyBack
#2 Goldco– Best For Customer Service
#3 Augusta Precious Metals – Best For Personalized Service
#4 Birch Gold – Best For Education
#5 Noble Gold Investments – Best For Small Investing
American Hartford Gold – #1 Choice
American Hartford Gold is my choice as the number one of the best gold IRA companies. They are based in California and are family-owned. The AHG group has a strong focus on helping families, as well as individuals, protect and diversify their wealth through precious metals. They are the premier company for gold ira investments in the Inc5000, surpassing all other gold companies, and have some of the best reviews online from previous customers, especially on Trustpilot.
American Hartford Gold is one of the new companies established back in 2015, but in that short time, they have risen to the top as one of the leading gold IRA providers.
American Hartford Gold has received some great reviews and scores across various platforms. They have an A+ rating on Better Business Bureau, with a score of 4.93/5 from their customers. They also have a score of 5/5 on Trustpilot the highest score possible.
What Makes American Hartford Gold Stand Out?
American Hartford is the only company that guarantees to match any other competitor’s price on gold and silver. They have also sold over $750million in gold and silver to their clients.
As previously mentioned, they have an almost perfect reputation based on hundreds of verified client reviews and excellent ratings from all major consumer protection agencies such as Better Business Bureau (BBB) and Trustpilot.
American Hartford Gold – Here Are The Key Takeaways
American Hartford Gold may be one of the new companies to the gold ira market, but they have worked tirelessly to build up their reputation. They have very high scores with the likes of Trustpilot, and as mentioned, they are the highest listed gold company on the inc5000. General feedback does suggest that they are slower at setting up your gold ira account than Goldco and Augusta.
Goldco – #2 Gold IRA Company
Goldco is an established Gold IRA company that has been in operation since 2006. They specialize in Gold and Silver IRA’s also known as precious metals ira.
Goldco has built up a reputation as one of the best gold ira companies today. They have been an Inc5000 award recipient for the past five years and have one of the highest rating of all Gold IRA providers on TrustPilot,
Goldco has worked hard to become one of the best gold ira companies over the years. They have been ranked by Inc5000 over a three-year span of 2015-2017 as one of the fastest-growing companies in the US, reaching the position of 670. An achievement that can only be obtained through quality of service.
As one of the best gold investment companies to offer a gold IRA, Goldco has achieved a rating of A+ from the Better Business Bureau, as well as a Triple-A rating from the Business Consumer Alliance, and 4.8/5 on Trustlink based on 253 reviews at the time of writing this review. They also have a score of 4.8/5 on TrustPilot from over 600 previous customers.
What Makes Goldco Stand Out?
As I looked at the multitude of various customer reviews, I saw that the biggest compliments made were towards their dedication to customer support and care, as well as even seeing one reference to a potential customer being told gold investment would not be the best option for their individual needs, which give credit to their desire to provide great customer service, and not simply selling gold for the sake of the sale. I mark that down as a great example of customer support and care.
Goldco – Here Are The Key Takeaways
In all my dealing with Goldco, I have found them to be excellent in their communication, as well as friendly and extremely helpful, answering all my questions quickly and concisely. On other review sites, I have noticed comments from people who Goldco advised not to invest at that particular time for whatever reason. This is excellent customer service for me, showing they are not a company that is just out for your money.
Augusta Precious Metals – #3 Gold IRA Company
My third choice in this list of the best gold ira companies is Augusta Precious Metals which has been in operation as a gold ira provider since 2012. The company is based in Casper WY with a satellite office in Beverly Hills, California.
According to Augusta’s website, setting up your gold ira account with them is very simple. In fact, they say it takes 15 minutes to start setting up your Gold IRA account with them with three simple steps, and they do most of the paperwork for you, making the process a lot easier.
When I spoke with them, they told me they had not received one complaint since starting in 2012. There are zero complaints, as Augusta stated, when you look at the reviews of the Better Business Bureau, Trustlink, and their own Google Business profile. This is impressive and marks them as unique amongst other gold companies.
They do not have as many reviews across the various sites as the other companies reviewed. For example, they don’t have any reviews on Trustpilot, but they do have over 250 on Trustlink, more than 100 positive reviews on BBB, and a score of 4.9/5 on their Google Business profile, from over 250 customers.
What Makes Augusta Precious Metals Stand Out?
Augusta Precious Metals has a unique one-on-one approach.
If you are serious about investing in precious metals, the company will even put together a personalized presentation and educational webinar just for you, which will be run by Devlyn Steele, their director of education and on-staff Harvard-trained economist.
Devlyn will spend however long you want with you on your webinar, answering every question you may have.
Augusta Precious Metals – Here Are The Key Takeaways
Augusta has worked hard to provide the high-quality customer service they offer, which is shown through the lack of complaints towards them. In a conversation I had with the CEO, Issac Nuriani, he informed me that, as a company, they do not employ salespeople who work for commission. This is to ensure customers do not receive high-pressure tactics to invest with them.
Birch Gold Group – #4 Gold IRA Company
Birch Gold Group is one of the longest-operating companies offering precious metal iras as they were established in 2003, and its headquarters are in Burbank, California. Birch Gold comprises of a dynamic team of former wealth managers, commodity brokers, and financial brokers who have made it their mission to educate the public on alternative investments and offer the proper solutions depending on individual needs.
Birch Gold Group has close to two decades of experience in the precious metals investment industry. It leverages two of the most important elements: a long track record of success and trust among investors. While all consumers obviously seek a trusted brand, the pitfalls associated with precious metals investing make this a key attribute.
The reviews for Birch Gold Group across the various sites are impressive. On the BBB they have a score of 4.7/5 based on 68 reviews, a score of 4.85/5 on Trustpilot from 121, plus they have 126 quality reviews on Trustlink.
Birch Gold Group offers you the facility to add not just gold and silver coins to your IRA, but also other precious metals allowed in a precious metals IRA, enabling you to have a full precious metals ira account.
What Makes Birch Gold Group Stand Out?
What makes Birch Gold Group stand out from other gold companies is its dedication to educating its clients.
Their website states that they are on a mission to educate their customers on the benefits of investing in gold, silver, platinum, and palladium.
They also offer free resources that delve deep into setting up a gold IRA so that if you are looking to invest in any precious metals, you are full of knowledge of what to expect. The fact that their team members have a wide range of experience within financial services does go a long way to making them a reputable gold ira company.
Birch Gold Group – Here Are The Key Takeaways
If you are interested in being educated on precious metals, then Birch Gold is the company for you. Education is their hallmark, and it is down to their team of former wealth managers, commodity brokers, and financial brokers. Birch Gold is one of the few companies offering all precious metals, whereas others only provide gold and silver.
Noble Gold Investments – #5 Gold IRA Company
Based in Pasadena, California, Noble Gold Investments is a renowned online provider of gold IRAs and precious metals coins and bars. It offers IRA custodianship through partners instead of acting as an IRA custodian. The founders of Noble Gold are two ex-employees of a well-known provider of precious metals IRA, Charles Thorngren and Collin Plume. Together they established Noble Gold in 2017.
Even if the company was only founded recently, the founders boast an impressive wealth of experience. Together, the duo brought more than two decades of investment experience and extensive knowledge of precious metal IRAs to Noble Gold.
Noble Gold offers IRA-approved bullion, precious coins, and bars in gold, silver, palladium, and platinum. The company also offers rare coins for non-IRA purposes. It also offers Royal Survival Packs with prices ranging between $10,000 and $500,000. These are ideal for smart investors seeking to store physical bullion at home for emergency use.
One of the services that Noble Gold offers is they provide personalized advice through a financial advisor that matches your unique financial situation. The company guarantees that every piece of advice clients receive is factual and tailored to offer customers a high return on their investment.
What Makes Noble Gold Investments Stand Out?
Noble Gold is among the few gold IRA providers that offer the Royal Survival Pack service. Royal Survival Packs are not designed as profitable investments or retirement plans.
Instead, they serve as an emergency source of funds. Some investors like to prepare for a time when world currencies become worthless and conventional banking collapses.
They do this by converting a portion of their savings into physical gold or silver coins that they can trade for goods. The idea is to have assets that you can liquidate for survival purposes if the stock market crashes.
Noble Gold Investments – Here Are The Key Takeaways
Gold IRA Companies Review Summary
Having looked at many gold ira companies, I have provided you with a general overview of the top gold IRA companies on the market today. And so it comes down to who is, in my opinion, the best gold ira company and why?
I believe American Hartford Gold is the best overall gold ira company, closely followed by Goldco and Augusta Precious Metals and, based on the criteria I used to review these gold ira providers, as outlined at the top of the page.
The reality is that all the gold ira companies I have reviewed are very good in different ways and have different qualities to offer.
|Gold IRA Company (click company name to go to their website)|
Ease of Purchase
|American Hartford Gold|
|Augusta Precious Metals|
|Birch Gold Group|
|Noble Gold Investments|
Choosing Gold IRA companies
Choosing a Gold IRA company to handle your precious metals requires that you do your due diligence because the kind of task they will be responsible for is specialized. Some of the considerations to take seriously are:
Track record – A gold IRA company with a good reputation will have good reviews on reputable platforms, such as Better Business Bureau or Business Consumer Alliance. Find out what other customers say about the company, especially the number of complaints they have had.
Transparency – Transparency is the most important thing to consider because the distribution rules in gold in an IRA investment have several costs that could come as a surprise if you are not prepared properly. A good company will help you understand all the costs upfront to help you avoid the unwelcome surprises that could interfere with your investment portfolio.
Flexibility – investors putting money in gold in an IRA portfolio have different needs and preferences. The company should be able to provide customer service that befits each client and not a standard approach for everyone.
Qualifications – Licenses, registrations, and insurance are all part of the qualifications that every IRA company should have to protect your investments properly. Make sure you verify all those documents before agreeing to work with them.
Required minimum distribution regulations for gold IRA
After the age of 71 years, required minimum distributions or RDMs are taken from a traditional gold IRA, but not from a Roth one.
The assets must have enough liquidity for the required distributions to be taken. This rule may make it harder for gold and silver IRAs to qualify since precious metals are not very liquid.
You may be forced to sell some of the holdings to get the cash for the distributions, but other IRAs can also be considered.
Special considerations for IRAs
Since a gold IRA is a specialty account, it does not need conventional brokers to run it. The custodian firm must be qualified to deal with the tax code requirements and maintain all the documentation involved in maintaining it.
IRA investors must meet the annual contribution limit, which was set at $6000 for the year 2021. Account owners over 50 years can invest an additional $1000, making their contribution $7000.
There are also some penalties that you must consider to have a smooth process with IRAs—for instance, withdrawing from IRAs before age 59½ attracts an additional 10% penalty tax.
The gold, silver, platinum, and palladium must always be kept in an IRS-approved storage facility. An example of a facility approved by the IRS could be a bank.
It is possible to keep the assets with third parties, but they should never be kept at home; otherwise, they will attract tax penalties.
Benefits and Risks For Gold IRAs
When considering gold IRAs for investment, you must consider the previous gold trends and the chances that you could get value from them.
On the one hand, gold has a steady demand in the jewelry industry, but on the other hand, they are very illiquid, and you may not have the cash available when you need it.
Therefore, the pros and cons should play a big role in your decision to open any type of IRA account.
Advantages of IRAs Long-term benefits
Being illiquid means, the asset class is a long-term investment. You will not have access to the funds for years, possibly decades, making it an excellent retirement investment option. You can start investing in gold in your 50s and have enough funds to live on in your old age.
Tax relief – Like other individual retirement nest egg accounts, a gold IRA also provides various benefits with regard to tax. The contributions made to the self-directed IRAs are usually tax-deductible, while withdrawals from Roth IRAs are tax-free. These are subject to specific conditions that should be considered.
Better asset control – Since they are self-directed accounts, gold IRAs allow you to manage your holdings and make all the decisions without the interference of partners or other parties.
Wealth Preservation – One of the main reasons to transfer your investments to precious metals is to help preserve wealth, especially if you want to ensure the value of your portfolio will not drop in the years to come.
There is no guarantee that precious metal prices will remain the same or go down in the following years, but based on the current trend, values have continued to grow.
Gold is always in demand, and since the mining and production of gold have slowed down, I can expect the metal’s value to increase further in the future.
Liquidity – Liquidity is a reason why people transfer their retirement investments to precious metals such as gold and silver , platinum , or palladium. It means that you can sell the bullion with relative ease if you want to cash in on your return.
Since gold bullion has high demand, it is likely to be disposed of quickly if you will put it on sale. A number of the precious metals firms I have reviewed offer a buy-back facility that will allow you to sell back the bullion you bought from them for a fair price.
Diversification Purposes – A diverse portfolio means that you will have different investment types and not only focus on a single one.
Spreading your risk is a prudent strategy taken by most investors. You are allowed to mix standard paper-based portfolios and mutual funds with gold-based investments.
Also, you can invest silver and platinum into your IRA, as I have previously mentioned.
Disadvantages of gold IRA
Limited tax benefits – With gold and other precious metal bullions, there are no dividends, interest, or other benefits. The benefits for tax do not apply to the growth of the investments. You only get significant profits when you sell the metals.
Restrictions with funding – You cannot use the precious metals you already own when setting up an IRA account. You must purchase the assets, shipping, insurance, transportation, and storage of the precious metals. You will also rely on a custodian to handle the transactions on your behalf.
High fees – Banks can keep the IRA assets, but they must have special depositories. You cannot keep the gold or silver coins at home, which means you must spend on the ideal storage. Other factors like insurance and management fees that are usually higher than the regular stock market requirements also increase IRA fees.
You Will Not Be Permitted To Hold Your Gold Physically – While the US Government sees precious metals as cash since they can be liquidated anywhere in the world, you cannot keep your gold bullion, be it bars or coins, at your private residence.
All retirement accounts will be held in a private depository or storage facility of your choice that you can visit whenever you please.
Gold Iras Are For The Long Term And Not A Way To Make A Quick Profit Or Money – The process of holding gold IRAs is for long-term purposes. If you are looking for a way to gain quick returns with precious metals, then you are better off investing in the stock market or a gold ETF as opposed to investing in gold IRAs
Gold Iras Do Not Pay Out-Yields, Interests, Or Dividends – If you invest in gold, you will not receive interest or dividends as you would in stocks bonds, and mutual funds. You need to base your investment portfolio return on the gain values on the capital appreciation of the holdings associated with the actual gold price.
How To Invest In A Gold IRA
Investing in a gold IRA requires an investor to look for a self-directed IRA that is managed directly by a gold ira custodian. The gold ira custodian is an institution that the IRS must approve.
Most financial and mutual fund companies do not offer self-directed services, which means adequate research in due time is essential.
The gold ira custodian can also recommend a reliable precious metal dealer who will supply you with the necessary assets.
Retirement savers should also know the allowable contribution plans, whether 401(k), 457, or 403(b).
The dealer can then complete the transactions on your behalf after you choose the type of investments you prefer for the IRA account.
The precious metals must meet the purity and weight standards set by the IRS. They must also be kept in a depository approved by the IRS.
If investing in gold coins, they must be given by specific government mints. The precious commodity futures tend to come at a higher price.
Factors to consider when setting up a precious metal IRA
The type of account:
The most common options when dealing with gold investment are creating a new IRA account, transferring the existing IRA, or using any other retirement account.
The rollover option works for 401(k) accounts, or any other type, provided it is for a retirement plan.
A tax adviser or accountant can help you make an informed decision when considering precious metals. Understand the types of accounts that can be rolled over and eligibility status before making such a move.
Gold IRA custodians work under self-directed companies that act as fiduciaries. They are responsible for setting up the accounts, accepting the allowable contributions, and producing account statements.
Multiple IRA custodians are available, which makes it easier for investors to choose who to work with depending on the precious metal chosen.
It is possible to communicate with them remotely, but they charge different fee amounts that must also be considered. Most of them have also established a relationship with dealers they can recommend, but you can still choose a custodian of your choice.
Precious Metal Coins & Bullion Products:
Specific physical gold bullion bars are eligible for IRA accounts.
Some of the common products include American gold eagle coins, American Silver Eagles, Maple Leaf from Canada, Philharmonics, Gold American Buffalos, Gold Australian Kangaroos, Mexican Libertad Coin, and Australian Silver Kookaburras. Different gold bars and rounds with at least .995% fineness and silver rounds and bars with at least .999% fineness may also be eligible.
The precious metals must be stored in a depository that has been approved by the IRS, such as Delaware Depository, but you can still choose any you are comfortable with from the approved list.
These factors will help an investor make the right choice between gold and silver investment or any other precious metal. You have the purchasing power, but the custodian handles payment while the dealer handles the shipment of the precious metals to the selected depository.
The custodian will then give account statements periodically to show the holdings and their value. The IRA owner can liquidate the precious metals in the account any time they see fit or take the required minimum distributions in the form of bullion coins.
The whole process is straightforward and can be completed within days or weeks, whether there are investment partners or not.
Of the gold IRA companies we have reviewed, the most common depositories
Precious metals eligible for gold IRAs
The Internal Revenue Tax Code may make it difficult for precious metal asset investors to capitalize on IRAs, but the rules they have in place are essential in setting up and maintaining the accounts. IRA account transactions have federal income tax stipulations and purity standards that differentiate them from paper assets and mutual funds.
Examples you can use for gold investment include:
- Australian Nugget Coins
- PAMP Suisse Bars
- Uncirculated Buffalo Gold Coins
- American Eagle Coins
- Canadian Maple Leaf Coins
- Philharmonic Coins
Examples of silver products are:
- Silver bars and bullions produced by an approved refiner or government mints
- Silver American eagle coins
- Kookaburra coins
- Libertad coins
- Canadian maple leaf coins
- Platinum bars and bullions produced by government mints or approved refiners
- Isle of Man Noble Coins
- Australian Koala Coins
- Maple Leaf Coins
- Eagle Coins
Examples of palladium products:
- Specific bars and bullion produced by the government or other approved refiners
Collectible coins are not allowed in IRAs. Some examples include the Belgian Franc, Chilean Peso, Austrian Corona, French Franc, Italian Lira, Swiss Franc, and Dutch Guilder. Make sure you buy an acceptable coin for the storage facility.
GOLD IRA ROLLOVER
When it comes to setting up a gold ira, you need to ask IRA Rollover or Transfer – which is best for Gold IRA?
Gold IRA rollover is an excellent way for investors to diversify their portfolios and protect their retirement savings. By rolling over a portion of their traditional IRA or 401(k) into a gold IRA, investors can shield their nest egg from market volatility and inflation.
There are several reasons why gold makes an excellent addition to any retirement portfolio. For starters, gold is a physical asset that cannot be created or destroyed – unlike paper currency, which can be printed at will by central banks. This makes gold a very scarce resource, which gives it a tremendous value. Gold also has a long history of being used as a store of wealth and a means of exchange, further adding to its appeal as an investment.
Investors looking to add gold to their retirement portfolio have a few options. They can purchase gold bullion coins or bars or invest in something like gold-backed Exchange Traded Funds (ETFs). For those looking for the added security of owning physical gold, setting up a rollover is an excellent option through a gold-backed ira.
Gold IRA rollovers allow investors to use funds from their existing retirement accounts to purchase gold coins or bars. The gold is then stored in a secure vault on the investor’s behalf. One of the major benefits of doing a rollover is that it allows investors to diversify their portfolios without incurring any taxes or penalties.
Another benefit is that there are no limits on how much gold can be purchased – unlike traditional IRAs, which have annual contribution limits.
Different Retirement Account Types That Can Be Rolled Over Into Gold IRAS
Today some different retirement accounts qualify for rolling over into the gold IRAs. They are:
Retirement Account Types That Can Be Rolled Over
- Traditional Iras,
- Simple Ira,
- Sep Ira,
- Thrift Savings Plans,
- 401 (K)
- Public Employee 403 (B) ,
- Public Employee 457(B),
- Pension Plans
- Tax-Sheltered Annuities
There are a lot of different gold IRA companies out there, and it can be tough to determine which one is right for you. However, by researching and carefully considering your options, you can make an informed decision that will serve you well in the future.
Most gold ira companies offer a similar service, so it really comes down to the service’s quality and the fees they charge. From my research, as I have outlined, American Hartford Gold is the number one company, and certainly worth obtaining their free guide to get more information. Then if you are happy with what you learn, speak to them further.
|Gold IRA Company (click company name to go to their website)|
Ease of Purchase
|American Hartford Gold|
|Augusta Precious Metals|
|Birch Gold Group|
|Noble Gold Investments|