USAA Gold & Precious Metals IRA Review

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Precious metals investments offer secure choices for investors who want to achieve a better lifestyle during retirement.

These metals aren't impacted by inflation or the value of the US dollar, and investors won't lose money in the future.

Many investors use gold, silver, and platinum to diversify their investment portfolio, secure wealth, and buy stocks and bonds.

When reviewing options for setting up a gold IRA, investors come across opportunities through USAA. 

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


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About USAA Gold & Precious Metals IRA

The bank and financial services offer terrific choices for setting up an IRA and offer advice for first-time investors.

Reviewing details about USAA helps investors determine if USAA is the best choice for their precious metals IRA.

Company History and Rating

USAA opened in 1922 in San Antonio, Texas. The bank or financial institution offers many banking services, including checking and savings accounts and gold IRAs.

However, the company doesn't provide self-directed gold IRAs for which the account holder takes possession of the precious metals and stores them anywhere outside an IRS-approved depository.

USAA Gold & Precious Metals IRA - Trustpilot

USAA Membership Requirements

USAA members are current members of the armed forces, their spouses, or their children. The bank requires all members to apply for membership by signing up for an account, and they must show documentation of their status.

USAA doesn't allow non-service member accounts, checking or savings accounts, or IRAs. Once the applicant fulfills all membership requirements, they can set up an account for checking, savings, or IRAs.

Creating a Precious Metals IRA

A USAA custodian manages preparations for the gold IRA, but customers can open the account online. They manage the funds transfer from the investor's existing IRA into the new account. The transfer must be completed within 60 days, or the investor faces tax and early withdrawal penalties.

The custodian contacts the IRA provider to set up the transfer. As soon as the funds are available, the custodian coordinates the precious metals purchase with the investor's preferred gold company.

The custodian transfers the funds to the investor's preferred gold company, and the gold company sends the precious metals to USAA for storage. All documentation is sent to USAA to allow them to file reports with the IRS as needed, and the custodian can provide receipts for the investor.

Investors should get estimates for all services considering they must pay fees throughout the lifespan of the IRA. They'll pay fees for the custodian's services, the depository fees, and maintenance.

Each time they add precious metals or change the IRA, they may face costs. Before setting up a gold IRA, the investor should review all related costs and ensure they have adequate income to manage their new IRA account.

Custodians and Depositories

USAA acts as custodians for the IRAs they offer, and clients must hire their custodians to create their accounts. However, there isn't a charge for setting up the account, and clients can set up their accounts online.

USAA precious metals IRAs require clients to store the precious metals in USAA's depository. If investors want to choose their custodians or depository, USAA may not be the best choice for them.

USAA Gold & Precious Metals IRA Review - custodian

If the investor chooses to transfer their IRA to another custodian or depository, they must complete the necessary paperwork, and there will be charges for these services. They should review all costs before getting started and check credentials for the new custodian and depository. It's easy to be fooled by scams online, and investors should complete their due diligence to avoid severe mistakes later.

Top 3 Companies Choosing Over USAA

Precious metals investors must purchase gold or other precious metals to fund their IRA. When reviewing companies that offer precious metals, investors find the following companies that offer these investments. Reviewing details about these companies helps investors determine if one of these companies is the best choice for their investments.

Our Top Pick - Unmatched Customer Service


Goldco was over a decade ago in Los Angeles, California, and offers precious metals sales via phone, and online for investors and collectors. 

The company provides self-directed gold IRAs and has accreditation from the Better Business Bureau. As of 2023, Goldco has maintained 5-star ratings from the BBB.

Reports show that the company has been endorsed by celebrities, including Sean Hannity and Chuck Norris, who are well respected in the conservative community. This business also has a ton of positive reviews left by customers on Consumer Affairs.

Investors can purchase precious metals separate from their IRA through the gold company. Investors find IRA-approved precious metals and don't charge high fees for these metals when setting up an IRA.

Augusta Precious Metals

Augusta Precious Metals started in 2013 in California and provided IRAs at affordable rates, and the company has many positive reviews from previous customers. Investors can find reviews on the Better Business Bureau and Google. They do not require commissions for workers and don't charge management fees for any client accounts or services for their IRA.

Customers get a seven-day price lock and protection program to help customers get a better rate and take their time deciding if they are ready to buy. The customer service representatives provide lifetime account management services unless the customer closes the account themselves.

The company provides a buyback program to help investors liquidate their precious metals supplies or get distributions from their IRA. Customers should review the current market prices for precious metals before accepting any offers.

American Hartford Gold

American Hartford Gold was established in 2015 in Los Angeles, California, and there are two physical locations for the business as of 2023. Celebrities have endorsed the company, including Bill O-Reilly and Rudy Giuliani.

The company has many positive reviews, and the Better Business Bureau accredits the business. Prospective customers find reviews on Google and Trustpilot to help them review previous customer experiences.

When setting up an IRA, customers can look under the "IRS-Approved" tab to find precious metals for IRAs. Customer service representatives can also provide more information about the accounts and how to manage them.

Beneficiaries and Heirs

When setting up the account, IRA owners must designate a beneficiary for their gold IRA. If the account holder doesn't use all the funds in the IRA, the custodian transfers the funds into an inherited IRA for the beneficiary.

According to IRS regulations, the beneficiary must accept distributions from the inherited IRA within five years; the custodian must liquidate the account and send the entire balance to the beneficiary. The beneficiary must pay taxes on the total balance they receive within the current tax season.

Tax Implications for Gold IRA

If the account holder transfers funds from a traditional IRA, they are tax-deferred, and the owner must pay taxes on all distributions when receiving them. If they have a ROTH account, the owner already paid taxes on the funds and doesn't have to pay any taxes when they retire.

Reviewing their tax implications can help these account holders make sound choices for retirement and help them avoid higher costs later. However, the IRA type they used initially is the same type of account they'll set up when creating a gold IRA.

Contributions to Add Value

According to IRS regulations, account holders can contribute up to a specific amount each year and increase the value of their gold IRA. If they are 59 and younger, the contribution limit is $6,500; if they are 60 or older, they can contribute up to $7,000 annually. They are restricted to these limits for all IRAs and must disclose any separate contributions to other IRAs to remain compliant.

Distributions During Retirement

At retirement, the account holder receives monthly distributions from their gold IRA, and they must calculate their tax implications based on how much they receive. A custodian can help them determine the most affordable amount; however, account holders with ROTH IRAs don't have to worry about tax implications.

With traditional IRAs, the owner must pay taxes on all money they receive, even if they choose a lump sum. A lump sum payment incurs higher taxes implications, and they could decrease their retirement funds considerably by choosing to get all the money at once.

Estate Planning for Gold IRAs

Estate planning is vital for anyone with a gold IRA or considerable assets. They can set up a trust and transfer the IRA to protect the financial asset against probate. By setting up a trust, they decrease the value of their estate and prevent creditors from seizing the assets when the estate goes through probate.

A trust is a terrific way to provide assets to an heir or group of heirs without inheritance taxes. Once the IRA is in the trust, the account owner is not listed as the owner, but they have access to the funds once they turn 65.

If they die before using the funds, their successor gains control over the funds, and they receive distributions from the account. If the owner or their successor wants to save the funds, they can roll them into another account or leave them within the trust.

Since precious metals are a secure way to generate wealth, the trust owner can add other precious metals to the trust and protect them for their heirs. The heirs can liquidate the precious metals once they gain control over the trust.

Investing in Precious Metals Outside the IRA

USAA offers gold mining and futures opportunities for investors. They can inquire about these options by calling a customer service representative and determining the best investment method.

Tracking Market Prices for Precious Metals

USAA can help IRA owners track market prices for their precious metals. The website offers details about the prices according to NASDAQ. Reviewing the market prices helps investors determine when to sell or liquidate their precious metals.

While they face restrictions for their IRA, the investor could sell any precious metals they have separate from the IRA. When gold is rare, the investor will likely get a higher resell price since there is a limited supply for others.

Advice for Investors

Visitors visiting the USAA website get great advice under the "Advice" tab. It is full of information about investing in various options, and first-time investors can determine what investment choice is best for them. Some articles are full of information, and the company updates them frequently.

Additional USAA Bank Services

USAA offers checking and savings accounts for all clients, and they can open more than one account to generate more interest. Many investments are available through USAA, including commodities, annuities, and CDs. Reviewing all investment opportunities helps account holders diversify their investment portfolios and maximize their savings options.

USAA offers checking and savings accounts for all clients, and they can open more than one account to generate more interest. Many investments are available through USAA, including commodities, annuities, and CDs. Reviewing all investment opportunities helps account holders diversify their investment portfolios and maximize their savings options.

USAA also provides insurance coverage such as auto, homeowners, and renters insurance. Customers can review their options and get free insurance coverage quotes anytime. They can also set up automatic drafts from their checking account to pay their premiums.

USAA is a good company overall and provides precious metals and other types of IRAs. The bank or financial institution has custodians who complete all preparation for the IRAS and other investment options, and they provide depositories for the precious metals.

While customers will have to purchase their gold elsewhere, they can take advantage of IRAs and other services USAA provides. While it seems like a great organization with a long history, investors should weigh their options before making a final decision.

Remember to read out list of the Top Gold Companies to see if USAA Gold & Precious Metals IRA made the cut.

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

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