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As an investor, you might be thinking about investing in gold or other precious metals to diversify your investments, prepare for retirement, and hedge against risk.
Precious metals investments can be a good option when economic conditions are uncertain and the market is volatile because gold, silver, and other precious metals have intrinsic value that they hold. By contrast, stocks can lose all of their value and become worthless.
Savvy investors might open precious metals IRAs to hold their precious metals for retirement as a way to protect their nest egg for themselves and their family members.
Whether you are planning to establish a precious metals IRA or simply want to invest in gold, silver, or platinum and store your metals at home or elsewhere, it's important to compare and contrast different source dealers that offer these products.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if American Gold Reserve passed our strict customer service standards to become one of our top recommendations.
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To help you investigate different precious metals dealers, we have written this guide about American Gold Reserve, a company that offers precious metals.
You can use this information to compare this company with other similar dealers before deciding to purchase precious metals for your self-directed IRA or private holdings.
American Gold Reserve is a company that offers precious metals to potential investors. Because there are a couple of websites for a company with the same name, it can be difficult to determine much about this company.
Two websites purport to be from companies named American Gold Reserve, including americangoldreservellc.com and americangoldllc.com. Both have the same name, but their websites are markedly different. Americangoldreservellc.com consists of a basic home page, a contact page, and some recent news about gold prices.
While it has an about us page, the page gives little information about the company beyond a claim that it has 17 years of experience. This site does not provide information about the products it offers or pricing. Visitors are encouraged to fill out a contact form and sign up for the company's newsletter.
The second site, americangoldllc.com, provides more information. While this site has a different logo than the first one, it appears to be the same company since the provided phone number, 1-866-852-3346, is the same number listed on the other site.
For that reason, we'll proceed with the presumption that both sites belong to the same American Gold Reserve company and review the information included on americangoldllc.com.
About American Gold Reserve
As previously mentioned, this company claims to have 17 years of industry experience on its americangoldreservellc.com site but then claims to have more than 30 years of combined industry experience on its americangoldlc.com site.
Reviewing the company's information on Open Corporates and the Texas Comptroller of Accounts searchable entity database reveals that it was incorporated seven years ago in 2016.
However, the claims about industry experience could refer to the cumulative experience held by each of its owners, who are listed as Brandon J. McDaniel, Jounte A. McDaniel, and Kimberly D. Poulard. The company was formed as a limited liability company (LLC) and is headquartered in Houston, Texas. The company's registration with the Texas Secretary of State remains active.
Based on the date of incorporation, it appears that this company is a relative newcomer to the precious metals industry and does not have comparatively significant experience when contrasted with other precious metals dealers.
Little information is provided by American Gold Reserve about the company and what it does on either site. However, it does appear to offer gold and silver products for sale on the americangoldllc.com website.
What Products Does American Gold Reserve Offer?
On the products tab of the americangoldllc.com website, American Gold Reserve lists the following categories of products:
While these broad categories are listed, individual products are not. Potential buyers are asked to call the company at 1-866-852-3346 for more information about available products.
The product listings are also not broken down between numismatic coins and bullion coins, so it's unclear how many products sold by American Gold Reserve qualify as investment vs. numismatic coins.
From the listed categories, it also appears that the company primarily offers gold products with a few silver offerings, but it doesn't appear that it offers palladium or platinum products.
American Gold Reserve does not provide individual product listings or pricing information on its website. Potential customers are instructed to call the company to obtain more information.
Does American Gold Reserve Offer an IRA?
On the americangoldllc.com website, American Gold Reserve lists a product category of "IRA rollovers and gold and silver starter packages", but it provides no further information about whether it offers an IRA or how to establish one.
Instead, it instructs potential investors to call the company for assistance and information. A call to the company revealed that American Gold Reserve does not offer a precious metals IRA or partner with a specific IRA custodian.
Instead, the company representative stated that they assist investors with establishing an IRA through the custodian of their choice, initiating rollovers into that account, and funding it with purchases from American Gold Reserve.
American Gold Reserve does not provide storage information on its website or recommend any particular depository. Investors who want to purchase IRA-eligible gold bullion from this company to fund their IRAs will need to identify an approved depository.
If you are searching for a depository for your precious metals investments, you should look for one that offers segregated, secure storage with 24/7 security to prevent your account holdings from being mixed with those of others.
On both websites, American Gold Reserve provides educational materials for potential investors. The company has multiple articles about current gold and silver prices and movements in the market on the americangoldreservellc.com website under the news tab. On the second website, several in-depth articles are provided for new investors considering investing in gold or other precious metals.
Shipping and Fees
American Gold Reserve provides no information about shipping methods or fees on its website. There is also no frequently asked questions section to learn more information about common questions investors might have before choosing to purchase gold or silver bullion coins from American Gold Reserve.
Prospective investors who consider buying products from American Gold Reserve should inquire about shipping methods and fees before completing a transaction.
Returns and Refunds
The company provides a copy of an arbitration agreement on its website through which customers and the company waive their rights to pursue legal remedies through the court process. Instead, disputes that might arise will be settled out of court through the arbitration process.
Along with the arbitration agreement, the company provides a list of terms and conditions. It states that products can be returned within 30 days of receipt for a full refund when a customer is dissatisfied.
The company also can't guarantee product availability or pricing due to changing market conditions. It states that if an order can't be filled, the company will contact the buyer and issue a full refund.
Ratings and Customer Feedback
American Gold Reserve is not accredited by the Better Business Bureau. It has a customer review rating of 1.9 out of five stars on the BBB website with seven complaints closed within the last three years and four within the last 12 months.
However, there are only 10 total customer reviews listed on the BBB. Several customers report high-pressure sales tactics when they call the company for product and pricing information.
A couple of customers report calling for specific products advertised in magazines and then having the company instead push them to purchase others that are more expensive.
A couple of customers complained that they purchased products from American Gold Reserve and subsequently learned that they paid more than the actual value of the products.
The company has better reviews on Google with a rating of 3.6 out of five stars out of 46 total reviews. Among the critical reviews, customers report upselling attempts after calling the company in response to print advertisements and feeling as if the sales staff engages in "bait-and-switch" tactics.
There are more positive than negative reviews on Google, however, and many customers report experiencing no problems and having a positive experience with American Gold Reserve.
American Gold Reserve Pros & Cons
American Gold Reserve might be an option for investors looking to invest in gold or silver. However, people must call the company to get needed information before they complete transactions and can't purchase products online.
Investors who choose to call American Gold Reserve should cross-reference price quotes provided by the sales reps with listed prices on the websites of other sellers for comparison before proceeding with a transaction. They should request price quotes, shipping information, and fee information in writing before moving forward.
Remember to read out list of the Top Gold Companies to see if American Gold Reserve made the cut.
Or, if you like what you read about American Gold Reserve, you can visit their website below.