Charles Schwab Gold & Precious Metals IRA Review

Charles Schwab Gold & Precious Metals IRA Review

Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear below.

Charles Schwab Gold IRA Review 

Charles Schwab has established a solid reputation over its 50-year history, becoming a cornerstone in the financial industry.

Renowned for providing a comprehensive range of banking and investment services—from checking accounts to brokerage options—Schwab is a trusted name worldwide.

Charles Schwab Gold IRA - Logo

Recently, Schwab has expanded its product offerings to include alternative investments like cryptocurrencies.

While this diversification appeals to savvy investors, some may seek more specialized services, such as gold IRAs or Individual Retirement Accounts.

Keep reading to discover how Schwab’s evolving portfolio can meet your unique investment needs. 

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 Charles Schwab passed our strict customer service standards to become one of our top recommendations.


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Schwab does support traditional, Roth, rollover, beneficiary, minor, and small business IRAs. However, investors won't find a precious metals IRA with Schwab right now.

A precious metals IRA requires investors to work with a custodian who buys, ships, and manages the account. The physical gold or silver moves directly from the dealer to a depository where it's safely secured. There are only a few companies that provide this complex service. 

Turn to Charles Schwab for standard banking, investing, and consulting practices. When it comes to precious metals IRAs, however, other outlets are more experienced than Schwab. Consider these alternatives for holding physical gold and silver as a retirement investment.

schwab gold ira

The Importance of Investing in a Precious Metals IRA

Precious metals IRAs involve purchases of specific gold and silver products for investment purposes. These IRAs have the same tax benefits as traditional or Roth IRAs. Investors add assets to the account, which have already been taxed at the current rate. In the future, these assets can be withdrawn with no additional taxes necessary.

It's critical to invest in a gold or precious metals IRA because it further diversifies a portfolio. Gold and silver aren't tied to the stock market like stocks and bonds, for instance. If there's a significant economic shift, precious metals typically retain their value. In fact, they tend to increase in value over the years. 

Precious metals IRAs are also clever pathways to hedge against inflation. Paper assets can have dramatic shifts in value. Precious metals are tangible resources that have real value regardless of the economy's state. During difficult times, only part of an investor's portfolio might be significantly impacted when it's properly diversified. A precious metals IRA keeps the investor's livelihood afloat.

 Top 3 Alternative Companies to Charles Schwab

1. Goldco

Goldco is a precious metals dealer based out of Los Angeles, California. It's been featured in several media outlets, from newspapers to radio shows. 

Goldco - Logo

Goldco has been in business for nearly 20 years. It has an A+ rating with the Better Business Bureau too.

Their website provides a lot of solid information about precious metals and their opportunities for investors. The site is laid out with simplicity in mind. The company's main focus is on the self-directed IRA.

Goldco Review - Home

Investors are welcome to open a gold or silver IRA with Goldco. The fact that the company supports the accounts and not just the precious metals sales is an advantage. Investors can open, fund, and secure their precious metals IRA with just one phone call.

Goldco also mails out a free wealth protection kit. Investors who want to research their options even further will appreciate this thorough packet. Gaining more knowledge about the company makes an investment decision even easier than before.

Advantages and Disadvantages of Goldco

When investors click on either the gold or silver IRA menu, they're taken to a page that describes the account setup process. In three steps, Goldco explains how investors can quickly get their IRA activated. This helpful explanation is a definite advantage in the financial world. Investors don't need a complicated process to decipher.

Goldco also includes a few timelines that quantify both gold and silver prices. Investors can see how precious metals change in value over time. It's even possible to see a 10-year timeline of the changing values. Accurate values help investors with their financial decisions.

While Goldco is a highly reputable company for precious metals investment, one potential disadvantage could be that their focus is primarily on gold and silver (although they do have platinum and palladium products, you have to call them for more information), which might limit diversification options for those interested in a broader range of precious metals.

Additionally, while they offer a buy-back program, the price is subject to market fluctuations, which means you might not get back the full amount you initially invested if market conditions are unfavorable.

Investors may gain more information when they call the main hotline. Quotes on precious metals types, prices, and other information should be hopefully written out in contractual form before opening the gold IRA.

Why is Goldco a Good Choice?

Goldco has the experience of several decades in the precious metals industry. There aren't many companies right now with that same experience.

They've also been "Company of the Year" for two years in a row as recognized by the American Business Awards. In addition, Goldco has also been heralded as one of the fastest-growing private companies by Inc 5000.

Goldco-Why Goldco

Their website encourages investors to call for a more personalized experience. The precious metals specialist does the hard work of setting up an account and assisting the investor with precious metals selections.

For investors who want customer service along with their buying experience, Goldco is a solid match.

Because Goldco has been in business for so long, it's natural to have mixed reviews from various investors. Any negative reviews found online are often answered directly by the company, which is a positive characteristic of Goldco's values.

Overall, Goldco is a good choice for a diversified portfolio. Investors can work directly with a specialist to roll over funds or buy precious metals outright.

2. Augusta Precious Metals

Augusta Precious Metals is one of the most trusted gold and silver dealers. It also offers access to self-directed IRAs and depositories through its affiliates. 

Augusta Precious Metals - Logo

The advantage to choosing Augusta is that they've already researched these entities for the investor. As a result, investors simply give Augusta a call to start the investment process.

The Better Business Bureau has accredited Augusta since 2015 with an A+ rating. In fact, there are no complaints currently filed on the BBB site regarding Augusta's business practices.

Money Magazine even awarded Augusta as the best overall gold IRA company in 2022. This company appears to be legitimate and successful for its investors.

Augusta precious metals- website header section

Investors are welcome to buy gold and silver from Augusta and either store it at home or within a self-directed IRA. The site describes the simple process of calling a representative and how the personalized service will create a better tomorrow for the investor.

There are plenty of instructional videos and reviews to look over as well. Augusta has more visuals for its clientele than text, which improves understanding of complex financial matters.

Advantages and Disadvantages of Augusta Precious Metals

Augusta makes it clear that it doesn't provide the IRS-required custodians for the gold IRA. They suggest industry names, which allows the investor to research the companies if desired. This same process applies to depositories too. 

As a result, investors might see this disconnect as either an advantage or a disadvantage. Augusta is the point of contact for the gold IRA, but they subcontract the work to two separate entities after selling the precious metals. Some investors may want a single company that sells, manages, and stores the gold.

With this fact in mind, Augusta might have more fees compared to other companies. They don't advertise their costs on the website. Presumably, Augusta, the custodian, and the depository will all have separate fees. These charges can add up over time.

Why is Augusta Precious Metals a Good Choice?

Augusta Precious Metals stresses lifetime customer service with every purchase. This promise also extends to affiliate services, such as working with a vetted custodian and depository. According to Augusta, investors work with a dedicated agent on each transaction.

This person gets to know the investor, which creates a strong business relationship. For example, the agent might suggest certain products that the investor might like as the relationship progresses.

Augusta precious metals-Why is Augusta a good choice

The website has many blogs, videos, and statistics regarding precious metals investments. Investors are welcome to call or chat about the information at any time. Additionally, new and exciting products might be released throughout the year. Investors can browse the site, contact their agent and discuss more purchases to boost the portfolios' values.

Augusta also recognizes that some investors simply want to hold physical gold and silver at home. These purchases are promptly shipped in discreet packaging. Investors can take ownership of the precious metals at home, which is another way to protect a household's financial stability.

3. Red Rock Secured

Red Rock Secured provides client assistance with setting up gold IRAs and selecting depositories. 

Red Rock Secured - Logo

This company doesn't perform custodian duties, however. They act as an agent for the custodian, and by extension, the depository.

Their website is written to inform clients of potential gains through precious metals IRAs. Investors can read about gold, silver, historical values, and coin types. However, investors won't find any photos of actual products to be sold. RRS simply lists the coin names, such as American Gold Eagles, under the resource pages with generic images. 

Red Rock Secured- website header section

Most pages encourage a phone call to RRS to start a new account. They advertise one-on-one conversations with agents and potentially no fees for life. In addition, they provide a real-time chart of gold and silver prices. Curious investors may appreciate this data being so convenient.

RRS respects investors' decisions about their precious metals investments. The company can ship directly to a depository or the investor, for example. They point out that tax incentives aren't applicable if the investor opts for home delivery. Ultimately, the investor is in control of every aspect of their financial needs with RRS.

Advantages and Disadvantages of Red Rock Secured

Investors can truly learn a lot about precious metals investing with RRS. The website's information is quite thorough. However, investors should also perform separate research from this site so that they understand both the pros and cons of precious metals IRAs.

Another advantage to RRS is the contact page. Investors can always call the direct hotline, but there's also a contact form. Fill it out, and investors can receive a call, email, or text shortly from an agent. Investors don't need to stay on hold for a representative. That agent can call the investor within a reasonable amount of time.

The main disadvantage to RRS is the pricing. There doesn't appear to be any online pricing for products, services, fees, or commissions. Investors should ask for this information as soon as they speak to a representative. 

Most investors want to comparison shop when it comes to IRA fees and commissions. They may feel committed to RRS when they call, however, so comparison shopping is nearly impossible to complete afterward. Any contracts written up for a precious metals IRA should have these costs printed within the text. Investors should look out for them and consider all the fine print otherwise.

Why is Red Rock Secured a Good Choice?

Although Red Rock Secured has a limited amount of company information on its website, there are plenty of reviews that shed a light on the company's processes. Investors should note that RRS has been in business for more than 10 years. Some reviews will be negative in tone as a result. 

For instance, the Better Business Bureau accredits RRS and rates them with an A+. There are a few complaints about their transaction processes, however. Most complaints have a legitimate response from RRS, which reflects positively on their business ethics. 

Red Rock Secured- why is red rock secured a good choice

Overall, RRS is a good choice because of its experience and dedication to customer service. Investors might make a list of questions before calling the hotline, however. Investors won't overlook a question, and they keep any conversation with the agent on track.

RRS should disclose their fees and other charges while conversing with the investor. They can make an investment decision with this information afterward.

Choosing a trusted gold IRA professional takes some research. Consider reviews and start with a small investment at first. Investing in precious metals is an intelligent way to shore up any long-term investments.

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

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

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

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