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In an era where financial stability seems more elusive than ever, savvy investors are turning to gold as a time-tested safeguard for their wealth.
But with a myriad of options out there, how do you choose the right gold dealer to trust with your hard-earned money?
Enter USAGold, a prominent player in the precious metals market. Our comprehensive review dives into the history, reputation, and services of USAGold, offering you an in-depth look at whether this renowned gold dealer lives up to its acclaim.
Discover if USAGold is the golden opportunity you’ve been searching for! Read on to find out more.
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 USAGold passed our strict customer service standards to become one of our top recommendations.
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About USAGold
Established on 1st January 1973, USAGold has become one of the most trusted names in the precious metals industry in the US. The company has a long history of providing quality products and services for individuals and institutions looking to diversify their portfolio with gold and other precious metals.
Whether a client is looking for a single coin, a bar, or a complete portfolio of precious metal investment, USAGold offers them a wide range of products from the most trusted sources.
They pride themselves in the strong relationships and contacts they've built in the industry, allowing them to offer clients the highest minted coins, the purest gold and silver bars, as well as some of the most competitive prices available.
The company's team is made up of precious metals experts who can provide valuable counsel and advice about investing in gold and other precious metals. They are committed to providing clients with timely, accurate information and the best customer service.
USAGold works with customers of all levels of experience and financial goals. They do not believe in the use of high-pressure tactics or pushy salespeople but instead, prioritize building relationships with customers and helping them make the right decisions.
USAGold Website
USAGold has a well-designed, functional website that provides clients with all the information they need when considering investing in precious metals. It has a comprehensive range of gold and silver products, as well as detailed descriptions of each product, so clients can make an informed decision.
The site has an Online Order Desk that shows real-time spot prices of gold, silver, platinum, and palladium. Clients can conveniently place orders on the website and have their orders shipped to them within a few days.
They also feature an FAQ page that provides answers to commonly asked questions about investing in gold and other precious metals. It is regularly updated with important information regarding the process of setting up a gold IRA account or purchasing gold and silver coins.
The Management Team
USAGold was founded by Michael J. Kosares, who has more than 50 years of experience in the precious metals industry. He is a renowned author with three successful investment books to his name, an expert on gold and silver coins, and a frequent public speaker.
He is the CEO and Chairman of USAGold and is also responsible for research and analysis, portfolio management, client service, marketing, and public relations.
USAGold Storage and Custodians
USAGold has partnered with the world-renowned Delaware Depository for secure storage options for their esteemed clients. Delaware Depository has facilities in Wilmington, Delaware, Seal Beach, California; Toronto, Canada; and Zurich, Switzerland.
Both locations provide state-of-the-art vaulted storage, and USAGold clients can access their coins anytime. They are also fully insured through Lloyd's of London - an insurance company that was founded in 1688 in London. They have a reputation for providing security, safety, and assurance.
USAGold also works with some of the top custodians in the business to ensure that clients' investments are safe and secure. One of their main custodians, Equity Trust Company, is a leader in the self-directed IRA industry and has been in business since 1974. They are regulated by the IRS, SIPC, FINRA, FDIC, and several state regulators.
USAGold Products
USAGold inventory consists of IRA-approved gold coins, silver coins, rounds, and bars. They also have collectibles such as ancient coins, modern coins, and numismatic items.
Clients interested in gold can buy American Gold Eagle, American Gold Buffalo, Canadian Maple Leaf, and the Gold Austrian Philharmonic. Silver lovers have options such as the American Silver Eagle, the Silver Canadian Maple Lead, and the Silver Austria Philharmonic.
Currently, USAGold has no palladium or platinum coins or rounds in its inventory. However, they can source these items and help clients purchase them via special orders.
USAGold Services
USAGold provides its clients with a variety of services, such as bullion delivery, precious metals IRA account setup and management, secure storage options through Delaware Depository and Equity Trust Company, coin appraisal services, and estate planning.
Their staff is highly trained in all aspects of the gold business and can answer any questions customers may have regarding investing in physical gold and silver. They also assist with setting up an investment portfolio or diversifying their existing investments.
Moreover, USAGold helps its client clients with the entire purchasing process - from researching products to buying coins or bars to advice on storage solutions. And if their investor wants to liquidate their gold assets, they will guide them through the process as well.
USAGold Costs and Fees
USAGold is transparent about its fees and offers affordable services. On their website, they have provided a list of available products and their prices pegged to the prevailing market rate. Their commission fees vary depending on the type of product and quantity purchased.
As of writing this (April 2023), the current gold spot price is $2,012.43. They offer volume discounts for purchases above certain amounts.
For storage, USAGold's fees vary depending on the type of account and the number of bars or coins stored. They also provide clients with online access to view their holdings and keep track of changes in values due to fluctuations in the gold market.
Why Is USAGold the Preferred Choice Among Precious Metals Investors Since 1973
1. Reputation
Since its accreditation with the Better Business Bureau in 1991, USAGold has maintained an A+ rating, with numerous five-star reviews from its clients on different review websites.
Further, with its exceptional educational content, sophisticated and experienced client service, live market news and analysis, and the ability to place orders online and by phone, it is an investors' one-stop shop for almost all their precious metal needs.
2. Security and Assurance
USAGold takes extra steps to protect its clients' investments. They offer fully-insured storage with two of the most reputable facilities in the market, Lloyd's of London and Equity Trust Company.
3. Range of Products & Services
USAGold offers a large variety of coins, rounds, bars, and collectibles in gold and silver for individuals looking to diversify their portfolios or hedge against inflation. With different types of products available at competitive prices, USAGold provides something for everyone.
4. Market Knowledge
Indeed, specializing in one specific niche for over five decades has allowed USAGold to master the art of gold and silver investing. On their website, they say they are not simply order takes but highly-respected commentators on the gold scene in their own right.
And with their team of precious metals specialists, they provide customers with the latest market news, analysis, and trade ideas to stay up to date on current trends in gold and silver trading.
5. Commonality
Though USAGold is based in the United States, its services are enjoyed and appreciated by customers from around the world. This is attributed to their commitment to providing honest, unbiased advice and exceptional solutions for all investors regardless of nationality or location.
Drawbacks When Working With USAGold
The only products a person can invest in are gold and silver. The company isn't diverse or expansive enough to provide other products like platinum and palladium.
Also, the catalog of available gold and silver products isn't as extensive as other precious metal dealers. Customers may have to look elsewhere or settle for options that are far from their ideal.
Getting Started With USAGold
The process of buying gold or silver from USAGold is much easier when an investor knows what they want from these precious metals and the amount they'd like to invest. Of course, the company has experts that can help in establishing that, but the choice is ultimately up to the customer.
With a budget and the type of coins or bars an investor wants, all that's left is to place an order online or via phone or to open an account with USAGold for more personalized service, depending on the amount of gold or silver being purchased. They will make their payment either through a wire transfer or a personal check, after which the company will deliver their products as soon as they can.
Precious Metal IRAs
Individuals planning for retirement can use gold and silver to provide additional diversity to their current retirement portfolios. With USAGold, investors can open a gold IRA that allows them to hold physical gold in the form of coins and bars as part of their retirement savings plan.
For this to happen, there are six major parties at play: the IRS, the broker, the custodian, the depository, USAGold, and the investor. The IRS must approve the products that the broker sells. The custodian serves as the trustee for the account and facilitates transactions, while the depository stores physical gold.
USAGold provides advice on market trends and can help investors choose what to buy from their catalog of gold and silver products. Lastly, the investor holds assets in a tax-advantaged retirement account.
If an investor has an existing IRA or 401(k) account, they can roll it over to a gold IRA with USAGold. The process involves funds being transferred from the current plan to a new IRA that can hold assets in physical gold.
IRS Regulations
First, the gold bars or coins that an investor decides to use to back up their account must be at least 99.5% pure or at least 99.9% for silver coins and bars. This is to ensure that investors only purchase high-quality metals that will stand the test of time and still be worth something down the road.
Second, transactions must be handled by IRS-approved custodians or trustees who can certify that investors have purchased the right gold or silver products and will keep them safe. It's also their job to organize regular audit checks on these accounts to make sure assets are still in compliance with the regulations set forth by the IRS.
Lastly, when it comes to withdrawing funds from an IRA account backed up with gold or silver, only certain types of withdrawals are allowed by the IRS.
Investors will not be able to take out money just whenever they feel like it without incurring penalties. All withdrawals must meet the criteria detailed in the IRS Code section 408(m).
Types of Gold IRA Accounts an Investor Can Create
1) Traditional Gold IRA account
The IRS allows American citizens to make contributions to their retirement accounts before filing for taxes. This means that any money that an investor puts in their gold IRA account will be taken out of their income before taxes are calculated, which results in a lower tax bill at the end of the year.
2) Roth Gold IRA Account
The Roth gold IRA is ideal for investors who anticipate having higher commodity prices when they retire. It allows them to pay taxes today, so they don't have to worry about it later when making withdrawals from their account. Roth IRAs also don't restrict the amount of money an individual can withdraw, unlike Traditional IRAs.
3) SEP IRA Account
The simplified employee pension account, or SEP IRA gold, allows self-employed individuals, business owners, and contractors to save for retirement using employer-sponsored pre-tax contributions.
It has the same benefits as traditional gold IRA account, i.e., the investor's contributions are tax-deductible, but the SEP IRA has higher contribution limits than a Traditional Gold IRA.
Conclusion
Investing in precious metals like gold and silver can be a great way to diversify an investor's retirement portfolio, hedge against inflation, and protect their assets against market volatility.
USAGold offers investors the opportunity to do just that by helping them set up gold IRA accounts with approved custodians and depository services.
Remember to read out list of the Top Gold Companies to see if USAGold made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
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At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.
