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Precious Metals IRA 101
Goldco and Birch Gold Group are renowned names in the precious metals industry, trusted by many investors.
Before delving into the offerings of these two companies, it's essential to understand what a Precious Metals IRA entails.
A Precious Metals IRA is a type of self-directed Individual Retirement Account (IRA) that allows investors to include physical gold, silver, and other metals in their portfolios. This investment vehicle provides an opportunity to diversify assets and safeguard wealth against market volatility.
With a Precious Metals IRA, you can invest in gold and silver bullion, coins, and other standard assets, offering a robust strategy for long-term financial security.
Read on to explore the unique advantages and offerings of Goldco and Birch Gold Group.
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.
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About Goldco
Goldco is a privately held company based in Los Angeles with more than a decade of experience helping customers protect their retirement savings in the best way possible.
With the help of a Goldco Specialist, you can diversify your retirement assets into a precious metals IRA or buy gold and silver for direct delivery.
Goldco has a longstanding reputation for providing excellent customer service, having high ethical standards, and providing adequate education to invest with confidence.
When it comes to precious metal companies, Goldco is the only one that has been recommended by major media leaders, such as Sean Hannity, Stew Peters, and Chuck Norris.
Goldco received an A+ from the Better Business Bureau and a AAA from Business Consumer Alliance. If you're interested in being one of the thousands of satisfied customers, you might want to give GoldCo a try.
About Birch Gold Group
Established in 2003, Birch Gold Group has become a leading dealer of physical precious metals in the United States. The company offers a diverse team of former wealth managers, financial advisors, and commodity brokers to deliver strong and diverse portfolios with gold, silver, platinum, and palladium.
The company is located in Burbank but provides services to all 50 states. Birch Gold's team includes decades of combined experience with a passion for optimal customer care.
They believe in making the IRA process smooth, which is why you'll never have to sit with unanswered questions. If you require information, a team member will be ready to answer them quickly.
Birch Gold Group is an accredited business with an A+ rating. If you're interested in a precious metals company that puts knowledge and customer care above all, Birch Gold Group is a company to watch.
Advantages of Goldco
There are many advantages to consider when choosing to work with Goldco. Some advantages include:
Free Investor Kit
Providing education is at the forefront of Goldco's mission. One of the educational resources the company offers is the wealth protection kit to help investors protect their retirement savings. The wealth protection kit includes printed guides, audio guides, and video guides.
According to the website, Goldco's wealth protection kit has helped thousands protect over a billion dollars in retirement savings. Here are three reasons to use this wealth protection kit:
Incentives
Another advantage of Goldco is that the company offers great incentives. For instance, Goldco has a limited-time offer available when you request your wealth protection kit. When you request the kit, you'll find information on Goldco's incentives.
Goldco is currently running a promotion where customers can also get up to 5% back in FREE Silver when they invest $50,000 - $99,999.
As well as get up to 10% in FREE Silver when they invest $100,000 or more. This creates a perfect opportunity to propel your investment journey.
Strong Reputation
Finding a precious metals dealer with a strong reputation is essential. Luckily, Goldco has a strong reputation for delivering excellent customer service and quality investment opportunities.
Big names like Sean Hannity, Chuck Norris, and Ben Stein have vouched for Goldco and the company has been consistently recommended to others as a premier precious metals dealer and IRA specialist.
Advantages of Birch Gold Group
Here are some top advantages of choosing Birch Gold Group:
Positive Reputation
Birch Gold Group has built a positive reputation for excellence. The company is known throughout the industry for having an exemplary track record. Birch Gold Group has received several accolades and positive ratings, making the company a solid choice.
You will find Birch Gold Group highly rated on the Better Business Bureau, Business-Consumer Alliance, TrustPilot, and Gold Dealer Reviews.
Diverse Selection of Metals
Birch Gold Group has more than enough precious metals to propel your investment journey. You'll be able to invest in gold, silver, platinum, and palladium.
Birch Gold Group Affiliate Program
If you're looking for additional ways to grow your income, Birch Gold Group has an affiliate program. Birch Gold Group states that they pay a bounty for every qualified lead and you'll earn commissions on every sale throughout the customer's lifetime.
With their affiliate program, Birch Gold's highly-trained staff will do all of the work. They have an entire department of IRA Program Specialists whose job is primarily focused on filing paperwork and following up with financial institutions.
All you need to do is find the lead. A qualified lead is someone who lives in the U.S., has been contacted by a Birch Gold representative and confirmed interest in their service, and has a minimum of $10,0000 in investment equity.
Disadvantages of Goldco
Here are a few disadvantages that you should take into account:
No Platinum and Palladium Products on Their Website
Goldco is a leading precious metals dealer offering precious metals for delivery and in a precious metals IRA. But one clear disadvantage of Goldco is that while the company does offer platinum and palladium, they are not listed on the website.
At this time, you have to call to speak with a precious metals specialist to learn about their platinum and palladium offerings.
If you're looking to invest in these less popular precious metals, you may need to consider other companies that offer more options on their website.
Minimum Investment Requirements
Another disadvantage of Goldco is that the company's minimum investment amount is $25,000. Compared to some of its competitors, this is a little on the higher side. This fact is especially worth considering since some precious metal companies don't have a minimum contribution amount.
Disadvantages of Birch Gold Group
Here are some disadvantages of Birch Gold Group:
Minimum Investment Requirement
Birch Gold Group's minimum investment amount isn't as costly as Goldco's. Still, some investors may consider it to be on the higher end when they consider that some companies have no minimum.
Complaints about Product Value Inaccuracies
Another disadvantage worth considering is that some customers have complained specifically about the value of their product. According to several customers who have complained, the company tends to mark up the value of certain coins in hopes that they will pay more. It's not clear how often this occurs, but the consistency of these complaints makes it worth mentioning.
How to Open a Gold IRA with Goldco and Birch Gold Group
Most investors seek out a simple, streamlined process when opening a precious metals IRA. Let's go over what the process entails for each precious metals company:
Goldco
According to Goldco, their goal is to make it easy for investors to get the benefit of owning physical gold or silver. The company believes that precious metals ownership is vital to your overall retirement savings strategy. Here are the steps to follow:
Step 1: Open Your IRA
To open your precious metals IRA, you'll do so by signing an agreement. This ensures you secure your purchase and that you understand Goldco's terms of service. You'll also be assigned a representative who will walk you through the process.
Step 2: Fund Your Precious Metals IRA
To add money to your precious metals IRA, you will roll over assets from your existing retirement account. For instance, you can roll over from a 401(k), 403(b), TSP, saving, or another IRA account. You can also transfer a portion of your funds into your new precious metals IRA.
Step 3: Purchase Your Precious Metals
Once your IRA is successfully funded, you will be able to choose which precious metals you'd like to include in your account.
Birch Gold Group
Birch Gold believes in protecting your retirement portfolio, diversifying your savings, and securing your purchase power with a precious metals IRA. Here is some information that Birch Gold Group provides about opening your IRA account:
Step 1: Open Your Account
If you would like to start a precious metals IRA, you will need to first consider how you will fund your account. You may transfer an existing IRA or roll over a 401(k) as an example.
If you need help deciding how you plan to go about it, Birch Gold will provide you with assistance throughout the process. Remember, to open a precious metals IRA, you will need at least $10,000.
Birch Gold Group states that the following account is eligible to be rolled over in a precious metals IRA:
Step 2: Choose Your Desired Precious Metals
There are many types of precious metals that you can consider for your new IRA account. If you need help deciding, your specialist at Birch Gold will provide you with the information you need to make an informed decision. Birch Gold Group offers gold, silver, platinum, and palladium as an investment option.
Step 3: Make Your Purchase
Once you've decided what metals you want to include, you are ready to make a purchase. Your specialist will confirm everything with you before moving forward. After your purchase, your metals will be sent to the depository, while your custodian manages your retirement account.
Step 4: Precious Metals Stored at a Depository
Your specialist will give you a list of options to store your gold and silver. Two options you have is the Delaware Depository and Brink's Global Service. These are two trusted depositories that continue to serve a large variety of clientele.
Step 5: Watch Your Investment
The last thing you'll do is keep an eye out for your investments. You'll connect directly with a Birch Gold Specialist who will provide you with an up-to-date buyback quote. These quotes are beneficial because they are more detailed and accurate than a standard statement.
Cost and Fees
As with any precious metals IRA, you can expect fees to occur. Let's take a look at the fees associated with Goldco and Birch Gold Group:
Goldco
Goldco does not charge fees for IRAs, the custodians charge the fees.
Goldco's Gold IRA Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50 as well as a $30 wire fee.
Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian).
Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually. Goldco does not charge any storage fees for cash transactions over $25,000.
Birch Gold Group
Birch Gold Group has an initial set-up fee of $50. They also charge an annual maintenance fee of $80 and an annual storage fee of $100. For any wire transfers, the fee will be $30.
Customer Support and Service
Having adequate customer support is a top priority when choosing a precious metals company. Here are the support services provided by each company:
Goldco
Goldco offers a form that you can fill out on its website with some basic information about you and information on how they can help. They also have chat live chat feature that enables you to speak with a live precious metals specialist.
For the fastest response, you can give the company a call at 855-450-1394 Monday to Friday between 7 am-4 pm (PST).
Birch Gold Group
Birch Gold can be reached by filling out the contact form with your information and a personalized message. If you'd rather give them a call, you can do so by calling them at (800) 355 2116. You can also email them at info@birchgold.com. Birch Gold Group is available Monday to Friday from 6 am to 5:30 pm PST.
Goldco vs Birch Gold Group
When it comes to Goldco vs Birch Gold Group, while we think they are both good companies, Goldco is the clear winner.
Both companies are trusted sources in the precious metals industry that strive to deliver excellent customer service, quality products, and personalized precious metal IRA services.
Ultimately, Goldco is a better choice than Birch Gold Group for precious metals investors due to several reasons.
First, Goldco has a more extensive and diverse range of investment options, including gold, silver, platinum, and palladium. Second, Goldco has a higher reputation for customer service, with a 5-star rating on Trustpilot and an A+ rating with the Better Business Bureau.
In contrast, Birch Gold Group has a B+ rating with the Better Business Bureau and mixed reviews from customers. Additionally, Goldco offers a buyback program, ensuring that investors can sell their metals back to the company at a fair price when needed.
Overall, Goldco is a better choice for precious metals investors looking for a trustworthy, reliable, and diverse investment option.
Remember to read out list of the Top Gold Companies.
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