This is not a financial Advice Article. Refer to a professional for financial advice. This page has affiliate links that recommend Goldco, American Hartford Gold Group, Augusta Precious Metals, and Birch Gold Group. The Positive or Negative Reviews may not be independent or neutral.
Most people look forward to their retirement. After many years of working, don’t you just want to sit back, relax, and not worry about anything? If you want to have a good retirement, you need to plan for it while you are still young. Do not wait until you no longer have the means or the energy. Do not wait until it is too late.
One of the ways on how you can plan for your retirement is to invest in the best gold IRA company. You can set up a gold IRA in order to protect your retirement account from any possible inflation or volatility of the market.
A gold IRA account is not as simple as a traditional IRA account. It actually involves certain moving parts, which is why a lot of people rely on gold IRA companies to deal with the procedures for them.
If you have a 401k or an IRA that holds bonds and stocks, you can seek help from a gold IRA company to convert paper assets into gold coins and bullions using a gold IRA rollover.
When you become an investor, you will have two options for your gold IRA: rollover and transfer. The latter is actually more secure, so it is the better option for moving your assets between your retirement savings accounts.
Gold and precious metal IRAs are actually good investments. However, they also have risks. This is why you need to be alert when it comes to making investments. Remember that you can quickly lose your money if you are not careful. Also, you have to take note that past performance is not exactly a guarantee of good future performance.
Thus, a company that has had a good performance in the past may still not do well at some point in the future. Nothing is actually ever guaranteed. You need to have a clear understanding with regards to any fees associated with your prospective investments before you commit.
You have to keep in mind that not every gold IRA company is the same. There are ones that are transparent and reputable, while there are others that are dishonest to clients. If you are not careful, you might end up with a company that charges hidden fees.
Don’t worry, however. This article is meant to help you find out which gold IRA companies you can trust.
The 5 Best Gold IRA Companies of 2021
- #1 Goldco: Best gold ira company overall
- #2 American Hartford Gold Group: Great Reviews
- #3 Augusta Precious Metals: Easiest gold ira setup
- #4 Birch Gold Group: Best buyback program
- #5 Regal Assets: Good reputation
#1 Goldco: Best Overall
Goldco is a private firm that focuses on protecting the retirement funds of their clients. They move assets from their accounts into a self-directed IRA that is backed by silver or gold. They also guide clients through every step so that they can successfully complete the process.
Additionally, Goldco provides collectors and investors an opportunity to purchase gold bullions aside from coins. They also offer a good buyback plan. They work with clients thoroughly to ensure that everything goes smoothly.
If you decide to go with Goldco, you have to determine if you want to use Roth dollars or conventional dollars for your gold funding. The former is post-tax while the latter is pre-tax.
A lot of clients choose to go with the latter to fund their conventional rollovers from existing accounts. Then again, you have to take note that almost every retirement plan has an asset that is ideal for rollover. If you have any concerns or questions regarding tax liability, you better ask your accountant.
For the storage of your asset, you need to have a custodian. You need one even if the gold IRA is self-directed. You can rely on Goldco to help you find someone who fits your requirements.
Once you set up a gold IRA and find a custodian, you can start funding your vehicle. Remember that Goldco can help you make sure that your rollover abides by the regulations of the Internal Revenue Service.
You can begin to choose the gold products that you plan to invest in once your funds have been taken care of. As always, you can rely on Goldco to help you make sure that any of your possible purchase meets the approval of the IRS. They even have relationships with specific mints that have created bars and coins specifically for them.
You can also add more diversification, depending on your IRA setup structure. So, you might be able to create an IRA with coins, bars, and bullions. Do not worry about not being able to understand precious metals. You can reach out to Goldco for a guide at no additional cost.
The fees of this gold IRA company actually varies, depending on the amount of investment as well as the selected custodian. If you want to know the exact amount of such fees, you have to directly contact Goldco.
Goldco has actually gotten a lot of positive reviews from clients. The individuals they work with claim that the company is reliable, ethical, and offers high quality service. In fact, Goldco has a rating of A+ from the Better Business Bureau in the United States as well as AAA from the Business Consumer Alliance.
The company is dedicated to helping clients make investments in precious metals. It offers physical delivery to either the client’s home or his retirement account such as TSP, IRA, or 401k.
With American Hartford, you can diversify your investment portfolio. You can get high quality silver and gold coins at competitive prices, and a satisfaction guarantee.
Clients are given high priority customer service as well as an opportunity to reduce liquidation fees via buyback programs. They are also told about the full costs involved before any final sale is made.
If you want to set up a gold IRA account with American Hartford, you have to contact the company first. Their official website displays their contact information. Once you contact them, you will be assisted by a product specialist.
You have to complete the required paperwork so that you can open a self-directed IRA. Then, you have to initiate a funds transfer or rollover of your account to a new one. You may transfer as many types of retirement savings account as you want, including 401k and 403b.
When you are done funding your gold IRA account, you have to contact an account executive to help you select precious metals that have been approved by the IRS. You can purchase palladium, platinum, gold, or silver.
You can start liquidating your precious metals IRA once it reaches 59.5 years of age. You can either get the precious metals physically or convert them into cash. Ideally, you should hold your precious metals for five to ten years.
No fees are charged by American Hartford for setting up Gold IRAs or having a retirement account roll over to a Precious Metals or Gold IRA. You can ship precious metals into a depository without spending money. You will even benefit from tracking and insurance.
As for account maintenance, there are no fees involved as well. The fees related to Gold IRA storage are typically waived for at least three years, depending on how massive the account is as well as how many precious metals are in store. There is also no minimum contribution amount.
Bars, bullion, and coins are stored in a depository that is approved by the IRS. The company advises clients to use well known depositories such as Delaware Depository Service Company, Brinks Global Services, and International Depository Services.
You can also choose to segregate your precious metals from the others in the depository. Depending on how much your gold is valued, you can pay about $75 annually for the depository storage.
#3 Augusta Precious Metals: Easiest to Setup
The company claims to be a premier company when it comes to gold IRA. In fact, it sees financial and retirement planning as a marathon instead of a sprint. Hence, it promises users lifelong high quality products and information that they can use until their retirement days.
The official website even refers to experts as customer success agents. Their high level skills in precious metals are noted. In addition, the team stays up to date with the most recent issues and trends that are related to gold and silver IRAs, as well as other alternative assets.
Moreover, the company takes pride in having excellent customer service and high level knowledge that help clients achieve their retirement goals and dreams.
Augusta actually has three commitments that revolve around the complete transparency on charges, bids, answers, and transactions; simplicity of use; and personalized metal portfolios for every client.
The company treats the clients more than mere transactions. Instead of just dealing with their account information and doing other tasks, the staff continues to offer services that would enable their clients to know more about precious metals. With such a customer-centered strategy, the company is able to build peace of mind, trust, and loyalty among its clients.
Augusta has a firm belief in making the setup of gold and silver IRAs as easy as possible for clients. So, if you need to setup an account for yourself, you can work with a custodian who will help you out. You will then begin a self-directed IRA for yourself.
Then, you will move value from a traditional account into a new one before you select a precious metal and place an order. The process is as simple as this. You can be in control, but you do not have to worry about being alone. You can work with a customer success agent to ensure that you are properly guided. In case you need assistance with anything, your customer success agent will also work as a liaison between the team and you.
The staff members will also share their knowledge and experience on the prices of gold, silver, and precious metals. You can communicate with them via chat or phone call. As for your paperwork, custodian communications, and transfers, you will be assisted by processors. You will also be assisted by the confirmation team, who will wrap up every transaction, verify orders, and finalize the details.
Furthermore, the company offers precious coins, premium silver and gold, and silver and gold bullion. It does not add any commissions to the listed prices. Hence, you can just pay the costs that are shared with you when you order desk quotes.
Even though the values tend to fluctuate, the price will be finalized when you make a confirmation call. What’s more, you can take advantage of the buyback policy of the company. Then again, you have to keep in mind that the buyback prices can vary. The regulations can also prevent the company from having any buyback guarantees.
As for customer support, you can count on Augusta to provide you with a lifelong one. It actually has a good reputation among customers, who testify about the credibility of the company. Augusta also has good marks given by the Better Business Bureau, as well as the Business Consumer Alliance.
#4 Birch Gold Group: Best Buyback Program
For almost two decades, the Birch Gold Group has made itself known to the public as a reputable Gold IRA company. Its team members are competitive, reliable, and highly skilled. They assist clients with their portfolio diversification, which includes gold, silver, palladium, and platinum.
The team basically consists of financial experts who are highly experienced in tech and finance. They are knowledgeable and committed to excellence. Hence, you can rest assured that the process of setting up your account would be easy and quick.
The company has excellent standard for efficiency, education, ethics, empathy, customer empowerment, and transparency. So, if you have any questions, you can contact the team for answers and clarifications. It is vital to have your questions answered before you make any final decisions.
The Birch Gold Group promises to keep their clients informed about the risks and benefits that are associated with precious metal investing. It also aims to help them avoid financial schemes and scams. After all, clients are not just numbers in a spreadsheet. They are unique individuals with lifetime goals and plans.
When you become a client, the company will pair you up with a precious metals specialist who knows the industry well and can help you achieve your financial goals and dreams. You can ask questions and ask for recommendations. You will be guided all throughout the process.
You can choose from gold, silver, palladium, and platinum coins. If you wish to offload any precious metal, you can ask your specialist for a buyback quote.
Custodial and set up fees may vary, depending on how much your transfer or investment costs. Then again, you might get lucky when you chance upon a promotion that involves zero fees. Likewise, the company also sometimes offers free products to clients.
#5 Regal Assets: Good Reputation
The rollovers involved in IRA are often tricky and difficult. A lot of people make mistakes because they lack the required knowledge.
If you want to set up a Gold IRA account, but you are not sure about what you are doing, you should contact the company and ask for assistance. Regal Assets is well known for its expertise on IRA rollovers.
With this company, you can benefit from an extensive track record on IRA rollovers, flat fees for storage and yearly service, and zero fees for transfer or rollover.
In fact, Regal Assets is a known leader among gold IRA companies. Ninety-five percent of its business actually comes from IRA rollovers. It is well known for superior expertise on transfers and rollovers. Even better, it does not charge any fees for such services.
The fee structure of the company is also straightforward and transparent. It has a flat storage and service rate of $250 per year. This fee includes segregated storage costs, and there aren’t any added transaction fees. So, you can save more money if you go with Regal Assets instead of another gold IRA company. You just need to have the required minimum investment.
As for customer service, you can count on the company to have your back, especially in difficult and confusing times. You can rely on specialists to work with you throughout your application process.
What Is a Gold IRA
Gold IRA basically refers to a certain form of individual retirement account. A Gold IRA company typically lets investors hold gold as well as other precious metals, such as silver, palladium, and platinum for their retirement preparation. It also lets them hold physical metals such as coins and bullion, as well as stocks that are related to precious metals.
A gold IRA account has to be separately held from a traditional retirement account. Nonetheless, things such as rules and limits with regard to distribution and contribution should be the same. Broker-dealers and other custodians can assist investors in opening their gold IRA accounts.
How We Ranked the Top Gold IRA Companies
The top Gold IRA companies mentioned in this article have been ranked according to ease of setup, reviews, buyback programs, and reputation. The characteristics, as well as the pros and cons of every Gold IRA company, have been thoroughly researched and evaluated to come up with a reliable conclusion on which one is the best for each category. The best overall Gold IRA company has been declared based on its overall performance and reliability.
Reputation and Reviews
Before investing on anything, it is a good practice to do research. Thanks to the Internet, you can easily search for companies that offer Gold IRA accounts. Since you are investing money, you should do more than just a quick online search. As much as possible, you have to look for reviews from reputable sources.
The companies that are mentioned in this article have been reviewed based on client testimonials and expert recommendations. News articles that mentioned them have also been reviewed. The products offered on their websites, the fees they charge, and their credibility have all been assessed.
Good Gold IRA companies provide fact sheets and expert analysis on silver and gold. They are reviewed by reputable news sources, and they have price charting tools. They also show the real-time prices of gold, silver, and other precious metals.
If you are not totally convinced about the reputation of a Gold IRA company, you can contact their customer support team. Usually, Gold IRA companies offer chat and email support. They also typically offer investment guides that you can avail for free. Do your research thoroughly, and remember that legitimate Gold IRA companies have a good rating from the Better Business Bureau and the Business Consumer Alliance.
Ease of Setup
Good gold IRA companies do not give their clients a hard time when setting up an account. As a client, you should be able to set up your account in no time. You should also be provided with a specialist who can answer any questions you may have, as well as guide you through every step of the account set up process.
Costs and Fees
Of course, the best gold IRA companies are the ones that offer great products and services for reasonable rates. At times, it is alright to pay a high fee if you are certain that you will be getting something excellent.
It is not wise to always trust something that is cheap. After all, you get what you pay for. Then again, it is not necessary to pay outrageous fees when you can get a similarly good product or service from a company that charges less.
Just like any other investment, precious metals such as silver, gold, palladium, and platinum come with fees. Since they have a tax deferred status, you have to keep them with a custodian or administrator that has been approved by the IRS. They have to be stored in a third-party depository.
With this being said, you can expect to pay fees with regards to setup, administration, markup, commissions, annual maintenance, storage, and miscellaneous.
Trustworthy gold IRA companies are transparent about their commissions, including markup costs. Most of them do not charge any commission for selling or buying gold. Then again, they might add a markup to their spot price when facilitating the transaction.
Gold IRA company custodians may charge upfront fees for account setups. The amount generally varies from one company to another. The fees usually range from fifty to a few hundred dollars. Then again, the account setup fee may be waived if you make a large deposit.
In general, the more gold you have, the higher your storage fee will be. The storage fees also vary. Some may charge a fixed amount for the initial gold deposits and an additional fee for anything that would be added later on. Others may charge a percent of the client’s account, such as 1% or 0.5% of the value of the gold.
The maintenance fees charged by custodians are generally used for covering the administration expenses involved in the maintenance of the clients’ accounts. These fees are also used for any paperwork that needs to be done. Clients who have large accounts typically have to pay more. The maintenance fees of gold IRA companies can vary.
Selection of Gold and Silver Products
The top gold IRA companies that we have selected are known for their diverse precious metal offerings. You know that you are dealing with a good company if they do not give you a hard time when diversifying your portfolio. You are in good hands if you can easily purchase gold, silver, palladium, or platinum bars or coins.
Good gold IRA companies also allow clients to trade and purchase cryptocurrencies. They have a lot of options to offer clients. Some of them allow clients to buy gold coins or bars and keep them at home. Others allow clients to buy precious metals in bulk and then store them in a depository. There are also companies that allow clients to roll over their gold investments into their retirement accounts, as well as set up their self-directed IRAs or gold IRAs.
The best Gold IRA companies offer buyback plans without hidden fees to their clients. This way, their clients can sell their precious metals and avoid incurring additional fees during liquidation.
With a buyback, you may sell back your precious metals to the company. You will then receive a fair market value for them. You may also be paid with a spot price during the time of liquidation.
You know that you are dealing with a good company if it does not make the buyback process complicated and not charge liquidation fees. You are also in good hands if the company offers to arrange for your gold or precious metal shipment before it asks you to pay.
Whether you wish to receive physical precious metals or cash, you have to reach out to your account executive. Your distribution may be given to you via a check in the mail or a bank wire transfer.
Why Invest in a Gold-Based IRA?
When you invest in a gold-based IRA, you can have a diversified retirement portfolio while deferring taxes and maintaining a tax preferential treatment. So, when you transfer or roll over a part of your IRA account to a Gold IRA, you will not have any tax issues.
In addition, when you open a Gold IRA, you may benefit from a yearly contribution of $7,000 if you are over fifty years of age or $6,000 if you are below fifty years of age. It is best to coordinate with a good investment company so that you can be assisted with regulatory requirements. They can help you avoid incurring tax issues, as well as diversify your portfolio with physical or precious metals.
In essence, investing in a gold-based IRA allows you to benefit from portfolio diversification, a hedge against deflation and inflation, and opportunities for profit.
When you invest a part of your retirement funds in precious or physical metals, you can diversify your portfolio in an uncorrelated and alternative asset with a track record of keeping funds protected against market, currency, and economic fluctuations and inflations.
As time passes by, inflation can erode investments. Fortunately, gold can provide a hedge against deflation and inflation, as well as make portfolios immune from them.
Furthermore, the historical performance of precious metals, such as gold, has shown that they have a great profit potential in the long term. So, you can expect your gold to increase in value in the coming years. In fact, financial experts use precious metals and gold as hedge against deflation and inflation, negative political and economic environments, and dollar devaluation.
What Is a Gold IRA Rollover?
A Gold IRA rollover occurs when a portion of an existing investment portfolio or retirement account is converted into bullion bars or gold coins as a hedge against inflation and economic uncertainty.
During the rollover process, the funds are taken from the account and are held for sixty days or less until they are deposited into a new IRA account under a new administrator or custodian.
What Is the Minimum Investment for a Gold IRA?
The IRS actually does not require any minimum account for IRA account opening. Then again, some companies require specific minimum accounts. So, if you do not have a lot of money to invest, you should search for a company that has a zero or low minimum requirement.
Should You Buy Gold Bullion or Gold Coins?
Any form of gold can be regarded as valuable. Nonetheless, gold coins are considered to be the best form. The value of gold bars can be determined accurately through the live spot price, and gold coins tend to command higher premiums over such spot price than gold bars. This is because they tend to have a commemorative nature and additional minting costs. Ideally, you should invest in Gold American Eagles because they are considered to be the best type.
Where Are the Precious Metals Inside Your Gold IRA Stored?
In order to comply with the requirements of the IRS, every type of IRA, including the precious metals IRAs, have to be kept by a custodian or trustee. Clients are generally not advised to keep their precious metals at home.
Also, even though the tax code doesn’t explicitly prohibit investors from having their own arrangements for IRA custody, these investors will have less stress and fewer problems if they just abide by the requirements.
Neither the federal courts of the IRS have recognized any form of self-storage arrangement for storing gold IRA assets at the homes of investors or safe deposit boxes. The IRS has actually warned that unconventional arrangements like this can disqualify the IRA.
So, if you want to invest in precious metals, you need to know about their storage. In general, precious metals, such as gold and silver, are stored in a highly secured third-party facility called a depository storage.
Here, you can ensure that your precious metals are completely insured against theft, damage, loss, or any other liabilities. These facilities are operated using advanced technologies and mechanisms for security. They are monitored constantly. They are also secured with timed locks, automatic relocking system, and detectors for sound, vibration, and motion.
The precious metals are kept in these facilities until they are withdrawn by the investor or they have reached their predefined retirement age. So, you can rest assured that your investments are fully protected with extra layers of security.
What about commingled and segregated storage? What are they exactly?
The precious metals kept in a commingled storage facility are kept with the products of other investors in a communal area. If you decide to go with this option, your precious metals will stay in this facility until you decide to withdraw them to make a sale or trade. Once you make a withdrawal, however, you cannot expect your exact same precious metals to come back to you. Instead, you will be given precious metals that are like the ones you purchased.
The precious metals kept in a segregated storage are separated from the products of other investors and are stored in a private storage compartment. If you decide to go with this option, your precious metals will be marked, segregated, and stored with your IRA account number and name. Once you decide to withdraw them to make a sale or trade, you can expect the exact same precious metals to come back to you.
Both of these options, nonetheless, provide equally strong degrees of protection. As an investor, you can rely on either one. You can, however, make a selection based on your preferences.
Which IRS-Approved Coins Can You Hold in a Gold IRA?
According to the Internal Revenue Service or IRS, self-directed IRA account holders can buy coins and bars that are minted from gold and precious metals such as palladium, platinum, and silver.
In the past, IRAs were limited to just American Eagle silver and gold coins. Today, however, they can invest in any silver, gold, platinum, and palladium coins and bullion that have been approved by the IRS.
The Taxpayer Relief Act of 1997 has actually widened the range of precious metals that can be held. A precious metal can be allowed by the IRA as well as accepted by STRATA if it meets certain fineness requirements.
For starters, gold should be 99.5% pure while silver should be 99.9% pure. Both palladium and platinum should be 99.95% pure. Rounds, coins, and bars also have to be produced by refiners, assayers, and manufacturers that are accredited or certified by ISO 9000, TOCOM, LPPM, LBMA, LME, NYSE/Liffe, COMEX, or NYMEX.
Proof coins have to be encapsulated in their original and complete packaging in mint condition. They should also have a certificate of authenticity. Non-proof coins, on the other hand, should be free from any damage as well as in uncirculated condition. Furthermore, small bars of bullion should be manufactured to their exact weight specifications.
Final Thoughts: Which Gold IRA Company Is Right for You?
Gold IRAs are typically called alternative investments because they are not traded on public exchanges and they require special expertise. You can have a good financial standing when you diversify your assets with precious metal or gold IRAs.
If you are considering setting up a gold IRA account, you need to speak with a financial advisor so that you can find out which metal is right for you. Your financial advisor will also help you achieve your overall financial goals.
Generally, you should avoid putting all your eggs in just one basket. This means that you should not put all your money in a single place. Instead, you have to spread it out so that in the event that something goes wrong in one of your asset baskets, you still have other asset baskets to turn to. You have to be wise with your financial investments in order to be protected.
So, for example, you may not want to put more than one-third of your retirement money into a gold IRA account. You can invest just ten or fifteen percent of your personal total portfolio in gold.
With regard to choosing a Gold IRA company, see to it that you consider certain factors, such as knowledgeability, reliability, reputation, and services. You can do your research by going online to read about your prospective companies as well as contacting the Better Business Bureau or the Business Consumer Alliance to find out more about them.
A good company has many options for its clients. However, aside from the excellent products and services, it also has to consist of team members who are knowledgeable, honest, helpful, and reliable. You should be able to trust the people you are dealing with. They should be transparent, as well as give you useful and accurate information.
In addition, you should consider the reputation of the company. While the past performance of a company does not exactly predict its future performance, you can safely assume that you are in good hands if the company has a positive history of experience, reputation, and service. You have to be careful in choosing the people you deal with to avoid being scammed.