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There are many factors that you should keep in mind when selecting a precious metals IRA company key among them being the integrity, reliability, and industry reputation of the company.
After all, the precious metals IRA company that you choose will be in charge of facilitating the security of your financial future.
Investing in precious metals has historically been a very stable, reliable, and steady investment option in recent years compared to the great volatility that comes with investing in the stock market.
For this simple reason, many smart investors including retirees are hedging and diversifying their portfolios with gold and silver IRAs.
While many investors usually focus on more traditional investments such as bonds, stocks, and mutual funds, the tax code also allows people to invest in precious metals like platinum, silver, and gold using special IRA accounts.
Unlike a traditional IRA which can be easily handled by a custodian, the setting up of a precious metals IRA is a more rigorous and specialized process. In some cases, when setting up this type of IRA, investors usually need to seek an approved depository and custodian.
Once an investor buys gold, it has to be taken to the approved depository so that a custodian can monitor it. For this to happen, gold investors need to find a reputable and reliable company that deals in gold IRAs to assist the process.
Top 5 Precious Metals IRA Companies
Goldco: Protect Your Wealth Tax & Penalty Free
Goldco prides itself on offering exceptional "white glove" customer service, and precious metals education.
Augusta Precious Metals
Known for one-on-one educational web conference designed by on-staff, Harvard-trained economic analyst. Award-winning “Best Gold IRA Company,” singled out by Money magazine and others.
American Hartford Gold
American Hartford Gold makes it easy to convert part or all of your 401k or IRA into physical gold or silver.
Birch Gold Group
Birch Gold Group helps investors protect against an uncertain future by taking direct possession of their precious metals.
Red Rock Secured
With over 40 years of combined experience in the precious metal industry, Red Rock Secured understands that its success is dependent on its client's success.
Goldco as a company and its staff always go the extra mile of ensuring that existing and prospective customers receive all the information they need when choosing precious metals IRAs.
Our main reason for highlighting this company is its quality customer service support.
So far, we have not identified any company that takes the measures that Goldco does to ensure that they provide as much information as possible to customers to gain their confidence.
The company which was founded over a decade ago also has other great qualities that make it an ideal choice for gold investors but what makes it stand out the most is the superior customer service they render.
Goldco is known for treating all its customers with its “white-glove service” from the start. This service usually features direct access to a gold investment specialist who will usually guide each customer through all investment processes.
Further, the company also encourages its customers to make use of the extensive precious metals investment information that is found on its website. In addition to maintaining e-books and videos, the company also maintains an in-depth blog that covers a range of topics on investment.
This customer-focused approach to serving investors has earned Goldco Precious Metals near-perfect reviews on trusted platforms such as Trust Pilot and Consumer Affairs.
To learn more about the investment process at Goldco including fees, custodians, account minimums, and depositories, you need to get in touch with the company. If you provide, your name and contact details they will also provide you with a free guide.
The process of setting up a gold IRA at Goldco is fairly easy and can for the most part be done online. The company offers different IRAs and 401(k) rollovers that you can use to transfer your existing retirement funds into your preferred IRA.
Wow what a great experience converting my 401k to a precious metal IRA with Goldco!
My representative was awesome, informative, knowledgeable, and made the entire process completely stress free.
Highly recommend Goldco!
Goldco is outstanding. They took me through every process to rollover a couple 403b's from a previous employer.
They explained every step and helped out fill out rollover forms.
Can't say enough good things.
on CONSUMER AFFAIRS
Was apprehensive about switching my standard IRA over to gold backed at first. Easy to set up appointment with my Goldco representative who did an excellent job of explaining things.
Excellent service, answered all my questions fully, friendly, informative people. Very pleased overall.
Glad I did this. Wish I’d done this earlier.
I could not believe how great the people at Goldco treated me and the respect they gave me.
I felt like I actually knew these people for years and I felt in my heart I could and knew I could trust them.
After talking to all the Goldco representatives it was so easy to transfer my money into precious metals.
Thank you so much Goldco for the peace of mind I have now.
This company is regarded as a market leader when it comes to precious metals IRAs. It has won several awards for the quality of services offered over the years.
Augusta Precious Metals have consistently proven that it can retain customers throughout the life of its investment.
Since its inception in 2012, this company has strived to educate retirees on how they can protect their money by diversifying their retirement portfolios with gold and silver IRAs.
This company has risen to the top because of its commitment to making the investment process simple and transparent.
Unlike most precious metals investment companies, Augusta usually offers their customers lifetime customer support services regardless of whether the customer transfers their portfolio to another firm.
As it is, the company has separate departments that deal specifically with gold investing. The unique model of operation at Augusta usually ensures that each of their clients gets all their savings.
Because of its partnership with the Royal Canadian Mint, Augusta usually has purer coins and better rates than competing investment firms.
Another benefit is that Augusta Precious Metals also makes it easy for clients to acquire IRA-approved precious metals to be added to one’s physical gold portfolio.
One of the key things that make Augusta stand out is that it is staffed by a highly-trained team of professionals who have extensive knowledge of investing in precious metals. They are always at hand to offer genuine and practical advice to clients.
It is also important to point out that, unlike other companies, Augusta does not just deal in precious metal IRAs but also offers clients the opportunity to buy physical precious metal coins.
American Hartford Gold makes it on this list for two key reasons - offering a wide range of precious metals investment options such as platinum, gold, and silver – in both coin and bullion form, at reasonable prices, and, their exceptional customer services.
Reviews by different customers have shown that the company’s staff are not only highly knowledgeable in precious metals investing but also highly personable.
The staff has been known to listen to the unique needs of each customer and then provide personalized solutions to the problem(s) at hand.
The firm also offers customer support to clients during normal business hours.
Monday to Friday – 6:00am to 5:00pm PST
Saturday – 6:00am to 4:00pm PST
The company has also made a name for itself with its investor education program. This program aims at providing each client with sufficient information to enable them to make an informed decision on the best investment option.
The company also has a variable fee structure for the services that they render. This means that you are usually asked to pay a fee that is directly proportional to how often you use your IRA.
Birch Gold Group is a top-tier gold and other precious metals investment firm that focuses on ensuring that customers invest wisely for a safer retirement. They offer unique investment options that are backed by precious metals meaning that clients’ investments are safer than when put into regular retirement accounts.
One advantage of getting a precious metals portfolio from this company is that, unlike a traditional retirement account where you can lose your savings in case of a market crash, your savings are safe as they are backed by a gold IRA.
This is one of the key reasons that clients find this company highly attractive.
Birch Gold Group usually works with clients to help them understand where their money is invested and why this is the best investment option.
To offer this information, they have created a content library that can be found on the company’s website.
The company also maintains prolific social media accounts and a podcast that offers insights into the growth cycles of precious metals and the precious metals market.
Their dedication to helping clients understand why precious metals such as gold are a great investment has continued to attract more and more clients over the years.
Its exceptional quality of service can be seen through the glowing reviews it has attracted on its website and other online platforms.
The Birch Gold Group team usually includes different specialists including financial advisors, wealth managers, and commodity brokers.
All these experts help clients create a better retirement nest by creating new IRA accounts and facilitating the rollover of retirement funds into precious metals portfolios.
This company features on this list because of its extensive experience in gold IRA investing.
In operation for over five decades, Red Rock Secured has garnered an A+ rating with the Better Business Bureau and a 4.9 out of 5 rating with Trust Pilot as of March 15, 2021.
The company has a host of educational resources on its website which mostly stands out because of the clearly and concisely answered FAQs on their websites.
However, the other resources they offer are not as detailed or extensive.
We recently called a representative from the firm and noted that the individual was knowledgeable and informative.
On calling the company back at a later date, the representative remembered our name and the information that we were following up on.
The representative however did not remember to mention an increase in the hike of prices for setting up an account unlike representatives from other firms, but they did mention that we plan for a hike in rates based on industry trends.
At Red Rock Secured, you can only set up an account with a minimum of $10,000 for which you have to pay an annual service fee of $150. Accounts above $200,000 usually attract a service fee of $225.
The company has great reviews on different platforms and competitive rates for accounts that have balances under $200,000.
Though the educational resources on their website are minimal, they always have a customer support representative who is ready to answer any queries that are not directly answered on the website.
What is a Precious Metals IRA?
This is a specialized and self-directed type of retirement account for individuals that holds investments in precious metals. Just like conventional IRAs, with a gold IRA, you can make pre-tax contributions and the tax from the earnings in your portfolio(s) can be deferred.
The income limits and contributions made to a gold IRA are akin to those of traditional IRAs. However, unlike traditional IRAs which focus on paper-based assets such as bonds, EFTs, funds, stocks, and other cash equivalents, gold IRAs only hold physical gold or other approved precious metals.
Note that you cannot hold/store the gold yourself rather it has to be stored in a secure depository.
The Internal Revenue Service (IRS) has a set of guidelines on metal finess standards that are used in determining whether precious metals in the form of coins or bullion can be approved for gold IRAs.
Additionally, the IRS only allows specific gold coins such as the American Gold Eagle and Canadian Maple Leaf. Experienced precious metals investment firms know and can tell you what is acceptable or not acceptable by the IRS.
How Investing in Physical Gold and Silver Helps to Protect Your Savings
Hedge Against Inflation
Gold and silver are often considered "inflation hedges" because their prices tend to rise during periods of inflation. When the value of fiat currencies decreases, the price of gold and silver typically increases, providing a store of value and preserving purchasing power.
Including gold and silver in an investment portfolio can act as insurance against systemic risks or unexpected market shocks. Precious metals tend to perform well during periods of market stress or economic uncertainty, providing a potential buffer against losses in other parts of the portfolio.
Including gold and silver in an investment portfolio helps diversify risk. Precious metals have historically exhibited low correlation with other asset classes like stocks and bonds. During market downturns or economic crises, gold and silver prices may move differently compared to traditional investments, potentially reducing overall portfolio volatility.
Gold and silver are seen as safe-haven assets during times of geopolitical uncertainty or financial instability. Investors often flock to precious metals as a safe store of value when other investments are experiencing volatility or facing significant risks. The perceived stability of gold and silver can provide a sense of security and stability to an investment portfolio.
Store of Value
Gold and silver have been recognized as stores of value for centuries. Their scarcity and intrinsic value make them durable assets that can retain purchasing power over time. In uncertain economic conditions or when fiat currencies face depreciation, gold, and silver can serve as a long-term store of wealth.
In a world gone crazy with financial mismanagement, unlimited money printing, and unlimited debt spending, physical gold, and silver act as a counterbalance to these reckless actions.
As Voltaire famously said, "Paper money eventually returns to its intrinsic value – zero."
There are just too many risks in having all your savings in paper and digital assets that can be inflated away at any moment.
Adding some physical gold and silver to your portfolio with help to protect your savings during these volatile times.