AmeriGold Review

Investing in precious metals is a smart way to diversify your portfolio and reduce risk.

Gold and other precious metals tend to grow in value, often remaining stable despite inflation or changes in the US dollar, making them a secure investment.

With time, growing your holdings in gold and precious metals can lead to significant returns. The key first step is choosing a trusted gold provider to buy from.

Take a deep dive into this thorough review of AmeriGold to learn about their offerings and assess whether it aligns with your investment goals.

The Company’s History

 In addition, their customer service representatives manage purchases and work with client custodians to set up retirement plans.

The company is a part of the Industry Council on Tangible Assets and accredited by the Better Business Bureau with an A+ rating. In addition, there aren’t any customer reviews or complaints against AmeriGold on the BBB website. Led by J. Paul Getty, AmeriGold sells and buys precious metals in their location and online.

Create a Gold IRA for Your Future

Before you approach AmeriGold to start a gold IRA, you must hire a custodian to manage your affairs. The custodian must complete all documentation for the IRA to establish it and contact your current IRA provider if you want to use retirement funds to purchase your gold. The self-directed gold IRA helps you contribute more over time and maximize your investment.

Your custodian must withdraw the preferred amount from your existing IRA to transfer. There is a 60-day deadline for the transfer, or you face tax penalties for the withdrawal. After they open your account, you decide how much you want to contribute.

If you are under 59, you can contribute up to $6,000 annually to the IRA; if you are over 59, you can contribute $7,000 annually. After the funds transfer to your custodian, you’ll sell the gold you want from AmeriGold.

AmeriGold requires you to complete an investment direction form instructing your custodian on what to do. After you may your selections, AmeriGold completes a purchase order.

The gold seller arranges the shipment and sends your gold and other precious metals to your preferred depository. Your custodian sets up the depository account for you according to your preferences.

There are fees for setting up the gold IRA, including custodian fees, maintenance, and storage. Your custodian provides details about these costs to ensure you have adequate capital to manage these requirements. Because of IRS regulations, you cannot store the gold or precious metals for the IRA at home. 

The gold IRA must meet all rules and guidelines for these investments. Before you start this process, discuss these requirements with your custodian. After you set up a gold IRA, consider asset protection opportunities through an estate plan. 

Review Precious Metals Products

AmeriGold offers gold, silver, platinum, and palladium. 

The silver selections include American Silver Eagle, Canadian Maple Leaf, Austrian Philharmonic, and accredited bars. Platinum selections include American Eagle, Canadian Maple Leaf, Australian Koala, and accredited silver bars. In addition, the gold seller offers palladium-accredited bars.

Buying Precious Metals

If you want to buy precious metals outright, call AmeriGold directly to complete the purchase and set up your shipment.

Browse the website and decide what you’d like to purchase and what quantity. The customer service representatives help you lock in your price based on the current market value of the gold.

You have three days to complete the purchase at the locked price before the offer is no longer valid. After you accept the offer, they provide a trade number for your order, and after they receive your wire transfer, they schedule your shipment. The company doesn’t accept any payment methods other than wire transfers.

AmeriGold has a minimum purchase requirement for all precious metals transactions, including gold IRAs. You must buy at least $5,000 in precious metals each time you order through AmeriGold. You are also responsible for ensuring the payment arrives before the three-day deadline.

If you decide to cancel your order, fees, and penalties exist if any of your precious metals reduce value within the transaction term. So, if you buy palladium with gold and the palladium decreases in value, you could lose a part of your investment funds in penalties and market losses.

AmeriGold provides customers with their bank account information to set up the wire transfer. After you set up the wire transfer, the gold seller monitors their account for the payment.

If there are any delays or issues, they can refuse your purchase. If you have a history of payment issues, you can no longer make any attempts to buy precious metals from this dealer.

Get Discounts on Purchases

AmeriGold offers discounts, but the company doesn’t specify how much discount is available to customers. However, they do imply that larger orders get the most significant discount. If a deal is available, the gold seller provides this information to help you make a sound decision.

Discreet Packaging and Security

The gold seller offers discreet packaging for all your orders. They use FedEx, UPS, and the US postal service to ship orders to their customers.

The precious metals and quantities determine what shipping method the gold seller provides. You can expect your order in up to five business days, and you will receive a tracking number.

Since you buy the metals outright, you don’t need to set up a depository account unless you choose to store your precious metals through these organizations.

They offer insurance for all packages to prevent severe financial losses and use tracking for the shipment. If your package is stolen, the insurance company files a claim. However, they will investigate the shipment.

Reporting Your Purchases to the US Government

Under the Patriot Act, AmeriGold, like other gold sellers, must report any precious metals purchases over $10,000 to the IRS.

Therefore, if you make a large purchase, you should discuss tax liabilities with your financial advisor first and calculate how much you must pay. Since they must follow these requirements, AmeriGold doesn’t ship any of their products to areas outside the US.

Selling Your Gold and Precious Metals to AmeriGold

To sell gold or precious metals, contact AmeriGold via their toll-free number and inform them of what you want to sell. If you have an account with the gold seller, they can review it to see what metals you purchased previously.

If you want to sell metals you’ve purchased elsewhere, they must inspect them first and then provide a quote. Explain to them how you bought your metals before any shipments.

The company provides a buyback quote for metals you purchased from them according to the current market price. Once you lock in your quote, AmeriGold gives you a purchase order number.

You are responsible for shipping your precious metals to their depository via a PO box number they provide. Therefore, you should add the purchase order number to the package. After AmeriGold receives the package, they inspect the metals for quality and weigh them.

If you are local to Denver, selling the precious metals to AmeriGold in person is possible. First, however, you must schedule an appointment and discuss the purchase with a customer service representative.

Regardless of how you sell your metals to the company, you decide how you’re paid. You can choose between a check they mail you or setting up a wire transfer to your bank account. They send the payment within 24 hours after your shipment arrives.

You are advised to check the current market prices for your precious metals before accepting an offer. If you do not receive a quote that matches the market prices, you can refuse the offer and keep your metals. You have seven days after you accept the offer to cancel the buyback.

However, you must sign stipulations in the contract for the buyback, and if AmeriGold incurs any losses, you must cover these financial losses.

If you are still deciding whether to sell precious metals, you can trade the metals in for other products of the same value. You can discuss a trade-in with a customer service representative before deciding.

You are advised to review tax liabilities related to a trade-in and must settle any tax payments after the transaction. If any of your precious metals have lost value, you could incur some losses during a trade-in.

Remember to read out list of the Top Gold Companies to see if AmeriGold made the cut.

>> Click HERE to read our Best Precious Metals Investment Companies list <<

Or, if you like what you read about AmeriGold, you can visit their website below.