Gold IRA companies give investors access to gold in their retirement plans
We recommend the best products through an independent review process, and advertisers do not influence our picks. We may receive compensation if you visit partners we recommend. Read our advertiser disclosure for more info.
Gold has proven to be a source of steady and stable growth compared to the more volatile stock market, so a growing number of retirement investors are turning to gold IRAs. It’s a way to diversify and hedge their traditional IRA portfolios against market volatility and inflation. While most IRA investors invest in more traditional assets, such as stocks, bonds, and funds, the tax code permits investing in precious metals, such as gold and silver, using specialized IRA accounts.
Traditional IRA account, which can easily be set up and maintained through a custodian, setting up and managing a gold IRA involves a few more moving parts. Investors may need to locate a custodian and an approved depository. The gold must be purchased and transferred to the depository in a way that the custodian can look after it, so investors must work with a reliable and reputable gold IRA company to facilitate the process.
We researched 18 legitimate companies offering gold IRA services, screening them for the highest consumer ratings from the Business Consumer Alliance (BCA). We considered factors like fees and price transparency, educational resources, customer support, and the ease of setting up an account and acquiring precious metals. Here are our picks for the best gold IRA companies in six categories.
The 6 Best Gold IRA Companies of 2022
- Best Overall:Patriot Gold Group
- Best for Transparent Pricing:Augusta Precious Metals
- Best for Customer Support:Goldco Precious Metals
- Best for Smaller Investors:Noble Gold
- Best for IRA Rollovers:Regal Assets
- Best for First-Time Buyers:Advantage Gold
BEST OVERALLPatriot Gold Group
Patriot Gold Group combines an extensive track record of delivering excellent customer services with superior consumer ratings and competitive pricing to make our list as the best overall gold IRA company.
- Investor-direct pricing
- Top marks from key consumer groups
- Long history in the gold IRA business
- Need to complete form on website to get sufficient information
- Minimum investment required
Patriot Gold Group has forged a long track record of helping investors secure their financial future through gold IRAs, earning high marks from consumer groups along the way. The family-owned business has done so by delivering superior customer service while keeping its pricing competitive, making it our choice as the best overall gold IRA company.
Patriot Gold has built a stellar reputation with top marks from the key consumer rating agencies, including an AAA rating with the Business Consumer Alliance and a five-star rating with Consumer Affairs.1
Patriot Gold is a dealer-direct company, which means customers avoid the fee typically charged for gold, silver, platinum, and palladium bullion or coin purchases with investor-direct pricing. Not much information about fees, account minimums, and other details is offered on Patriot’s website. You will have to contact them before signing up to learn this important information.
Patriot Gold prides itself on its long track record of delivering superior customer service. Account managers closely tend to customers’ needs from account setup, which you can complete online or over the phone, through each transaction. The account reps seek to understand their customers’ financial objectives to offer recommendations.
BEST FOR TRANSPARENT PRICINGAugusta Precious Metals
Augusta Precious Metals’ customers benefit from low costs and know exactly how much they are paying and for what. For that, Augusta makes our list as the best gold IRA company for transparent pricing.
- Low-cost, transparent fee structure
- Money-back guarantee
- Guaranteed fair-pricing on purchases
- Doesn’t offer platinum or palladium
- No minimum investment specified
- No online purchases
Pricing is critical when reviewing gold IRA companies. Many companies say they have a low-cost fee structure, but few actually reveal all their costs. The fee structure and pricing scheme for Augusta Precious Metals is completely transparent and straightforward, making it our choice for the best gold IRA for transparent pricing.
Family-owned Augusta has built its reputation for transparency and integrity since opening in 2012. It has earned the highest ratings from BCA.2 Augusta further reinforces its customers’ confidence by offering a 100% money-back guarantee for new customers and guaranteed fair pricing along with seven-day price protection. For details on setup, annual, storage, and other fees, you must contact the company. Augusta also has an excellent buy-back program.
Augusta works with highly reputable Delaware Depository for their customers’ storage needs, with vault locations throughout the U.S. Since the account is self-directed, there are no management fees.
Overall, Augusta’s customer service is top-notch, as its high consumer ratings indicate. Augusta’s onboarding and transaction processes are turnkey, with specialists assisting customers with all the necessary paperwork. However, customers are not able to make purchases online.
Augusta’s two significant drawbacks are its limited choice of metals and its high minimum investment requirement for establishing a gold IRA. Customers who want to invest in platinum or palladium will have to go elsewhere as Augusta focuses on gold and silver bullion and coins. It is attractive for easy IRA rollovers with its transparent pricing scheme.
BEST FOR CUSTOMER SUPPORTGoldco Precious Metals
Goldco Precious Metals and its account reps go the extra mile to ensure potential and existing customers receive all the information they need to make an informed decision, which is why it’s our choice as the gold IRA company with the best customer support.
- Extensive educational resources
- Competitive pricing
- 10% back in free silver coins for new accounts
- Minimum investment applies
No other gold IRA company takes such great pains to present investment information in an organized and objective way to gain their customers’ full confidence. Founded in 2006, Goldco Precious Metals stands out in many ways, but it has built a reputation for providing superior customer support.
From account setup through their most recent transaction, customers are treated to Goldco’s “white-glove service,” which includes direct access to a specialist to guide them every step of the way. Goldco encourages its customers to take full advantage of the extensive education center on its website. In addition to several e-books and a comprehensive list of videos, Goldco maintains an in-depth blog covering a range of investing topics.
It’s that customer-centric focus that has earned Goldco nearly perfect reviews on Consumer Affairs and Trustpilot.3
For more information about fees, account minimums, custodians, and storage, you will need to get in contact with Goldco. They also offer a free guide if you are willing to give them your name, email, and phone number. Account setup is quick and easy, completed primarily online. Goldco also offers IRA and 401(k) rollovers to transfer your existing retirement funds.
BEST FOR SMALLER INVESTORSNoble Gold
With a low minimum investment requirement and extensive educational resources, Noble Gold is our choice as the best gold IRA company for smaller investors.
- Low minimum investment
- Extensive educational resources
- Flat service and storage fees
- Annual fees can be proportionately high for low account balances
Established in 2016, Noble Gold is a relative newcomer to the gold IRA space. Still, with its low minimum investment requirement and extensive educational resource, it has quickly become a favorite as the best gold IRA company for new investors.
In its short history, Noble Gold has also gained traction with the consumer rating agencies, garnering a five-star rating with Consumer Affairs and a BB rating with BCA (one complaint in the last three years that was satisfactorily handled by the company).4
In addition to its comprehensive offering of educational resources, Noble Gold provides each potential customer with an initial consultation for a mutual understanding of the customer’s needs, preferences, and objectives. After that, customers are assigned a trusted advisor who guides and educates them the rest of the way without resorting to high-pressure sales tactics.
Noble Gold’s fees aren’t the lowest, but they are competitive. New customers aren’t charged a setup fee, but all accounts are charged an $80 annual service fee. In addition, all customers pay a $150 annual storage fee. The good news is those are flat fees charged to all accounts regardless of size, and the storage fee covers the cost of segregated storage. (Noble Gold doesn’t offer commingled storage.)
Because of Noble Gold’s extensive network of partners and suppliers, customers are afforded competitive pricing on gold purchases. Noble also offers a “no-questions-asked” buy-back service.
Noble Gold’s custodian is Equity International. You can see your account information at any time on their site. Noble uses International Depository Services (IDS) for storage. It has two locations in the U.S. and one in Canada. Storage at the high-tech IDS facility comes with a Lloyd’s of London insurance policy.
Potential customers can spend all the time they need on Noble Gold’s website, browsing educational materials and gathering the information they need before contacting a representative to open an account. You can complete a part of the account registration process online, but you will need the assistance of a representative to complete the process.
BEST FOR IRA ROLLOVERSRegal Assets
IRA rollovers can be tricky, requiring specific expertise to avoid mistakes. So, when most Regal Assets’ business is IRA rollovers, you can be certain it knows what it’s doing. That’s why it makes our list as the best gold IRA company for IRA rollovers.
- Extensive IRA rollover track record
- Zero fees for IRA rollover or transfer
- Flat annual service and storage fees
- Cannot make purchases online
With its top consumer ratings and competitive pricing structure, Regal Assets has become a leader among gold IRA companies since opening in 2010. But when the majority of a company’s business comes from IRA rollovers, it deserves special recognition as the best gold IRA company for IRA rollovers. Regal Assets backs up that recognition with superior IRA rollover and transfer expertise and services. But if that wasn’t enough, it now charges zero fees for the service.
Although Regal isn’t rated by the Consumer Affairs, it has a AAA rating from the Business Consumer Alliance and many positive reviews on other third-party review sites.5
Regal’s fee structure is transparent and straightforward. It charges a flat rate for service and storage of $250 per year. The fee includes the cost of segregated storage, which is lower than most firms. There are no additional transaction fees. A minimum investment may apply. Contact the company to learn the details if you consider investing with them.
Regal also excels at customer support. Starting with a broad array of educational resources, Regal’s IRA specialists start working with customers during the application process and continue to hold their hand every step of the way.
BEST FOR FIRST-TIME BUYERSAdvantage Gold
Advantage Gold’s low minimum investment requirement, low-cost fee structure, and vast educational resources make our list the best gold IRA company for first-time buyers.
- Extensive educational resources
- Low annual fees
- Relatively short operating history
- Online purchase not available
In business since 2014, Advantage Gold operates well beyond its age. Advantage Gold has made its mark as the best gold IRA company for first-time buyers with its low minimum investment requirement, hands-on customer support, and comprehensive educational platform,
Since its founding in 2014, Advantage Gold has strived to build a top-notch reputation by providing superior customer service. Having garnered top ratings from the BCA (AAA) with no complaints filed over the last three years, the young company has exceeded expectations.6 What the company lacks in terms of time in the business, it makes up with the collective experience of its management team and its highly trained staff.
While Advantage Gold appeals to gold IRA investors of all types, it has a particular appeal for first-time buyers. They offer extensive resources and educational materials that can help new investors get off the ground with gold and other precious metals. At no time are investors exposed to high-pressure sales tactics.
Advantage Gold’s fees and account minimums are said to be welcoming to new investors. They also have a very liberal buy-back program, offering repurchases at the going market rate, which is higher than the spot price offered by some competitors.
The preferred custodian for Advantage Gold is STRATA Trust Company. For its customers’ storage needs, the company works with Brink’s Global Services USA, Inc., and Delaware Depository, both highly reputable vault companies.
Final Verdict
Gold IRAs are a bit more complicated than your traditional IRA. But finding a company that works well for you and your retirement goals is critical to diversifying your portfolio and including the precious metal.
Patriot Gold Group tops our list of gold IRA companies because it earns high marks from consumer groups, has a solid history of helping investors access gold for their IRAs, and it is a dealer-direct company, which eliminates a fee typically charged for access to certain precious metals.
Your needs and your retirement goals are unique, so it’s important to check out our full list and pick a gold IRA company that suits your plans.
Frequently Asked Questions
What is a Gold IRA?
A gold IRA is a specialized, self-directed individual retirement account designed to hold precious metals. As with a traditional IRA, a gold IRA allows pre-tax contributions, and the investment earnings can then accumulate tax-deferred. The contribution and income limits are the same. But unlike a traditional IRA, which typically holds paper assets such as stocks, bonds, funds, ETFs, and cash equivalents, a gold IRA is set up strictly to hold physical gold or other approved metals. You don’t hold the gold yourself; you must store it in a secure depository.
The IRS has established guidelines for metal “fineness” standards to determine whether gold or silver in the form of bullion or coins is acceptable for a gold IRA. Also, the IRS only allows specific gold coins, such as the American Gold Eagle or Canadian Maple Leaf. A reliable gold IRA company knows what is and what’s not acceptable for a gold IRA.
What Does a Gold IRA Cost?
Generally, there are three sets of fees charged with a gold IRA. A one-time account setup fee can range from $50 to $150. Some companies waive the fee for a larger initial deposit. There’s also an annual administrative or custodial fee, ranging from $50 to $150 depending on the account’s size. Storage fees are charged by the depository ranging from $50 to $300 annually, depending on the amount of gold being stored.
Most gold IRA companies don’t charge a commission for purchasing or selling gold. However, many add a “markup” to the spot price, which is essentially their take to facilitate the transaction. Some companies are transparent about their markup, while others are not. Companies that buy direct can eliminate the middleman, allowing them to reduce their markup.
A gold IRA often comes with higher fees than a traditional or Roth IRA that invests solely in stocks, bonds, and mutual funds.
Should I Buy Gold Bullion or Gold Coins?
When purchasing gold for their gold IRA, investors can choose between bullion and sovereign coins. While both are essentially valued in the same way—per ounce based on the spot price of gold—sovereign coins may be the safer choice.
Generally, well-known sovereign coins, such as the American Eagle and Canadian Maple Leaf, are easily recognizable and easier to trade, and they tend to sell at higher premiums than bullion bars. Small bullion bars (1 oz) are harder to sell back, and the markups are higher. Large bullion bars are more suited for institutional investors.
However, if you work with a reliable and customer-focused gold IRA company, they are likely to have favorable buy-back policies for either coins or bullion, though their transaction costs may be higher for bullion.
Where Should I Store My Gold?
When you own gold inside a gold IRA, you are not allowed to store it at home. A gold IRA company’s role is to facilitate setting up the IRA and purchasing the gold coins or bullion. The investor must still find a custodian and a secure depository for their gold. Many gold IRA companies partner with a custodian, and either the custodian or the gold IRA company might select a depository.
A quality gold IRA company will only work with thoroughly vetted reputable third-party storage firms or secured depositories. Some companies have relationships with multiple depositories located around the country. In most cases, the company handles transportation logistics and insurance coverage.
It’s up to you to confirm that any company you invest with has all the required licenses, registrations, insurance, and bonds to protect your investment. Ask for verification of those licenses and other information.
You must store the gold in a gold IRA in an IRS-approved depository; you can’t keep it in a safety deposit box, home safe, or under your mattress.
Is a Gold IRA the Best Way to Invest in Gold?
There are many ways to invest in gold, and a gold IRA is one of them. But is it the best way? It depends on several factors. Investors can purchase gold bullion and coins outside of an IRA. There are no IRS restrictions on what they can own and how they must store their gold. Investors can choose to store their gold at home, avoiding storage fees. Also, there are no custodial fees. Investors who hold their gold for more than a year are subject to favorable capital gains tax rates instead of ordinary income tax rates, which is what you pay when you sell gold and withdraw the funds from an IRA.
Physical gold doesn’t generate income, which is important to people in retirement. To generate income, the gold has to be liquidated so funds can be withdrawn. Retirees reaching age 72 need to have sufficient liquidity in their retirement account to take their required minimum distributions (RMD), which could force them to sell some of their gold holdings.
This could be problematic for retirees who are heavily invested in gold. It would be less of a problem, and perhaps more desirable, if their gold IRA was just a part of their overall retirement portfolio. Owning gold in an IRA makes sense if it is a part of a diversification strategy, where gold provides an inflation hedge. Investors can have more than one IRA. If their IRAs hold paper assets, they have additional sources of current income and RMD withdrawals.
Younger investors with less money to invest in gold may be better off with a traditional IRA, investing in gold equivalents, such gold ETFs or gold mining stocks, until they accumulate enough to meet the higher minimum requirements of gold IRAs.
The best way to take advantage of a gold IRA is to use it as an accumulation vehicle as part of a broader, more diversified investment strategy. But then, that can also be accomplished without using a gold IRA.
Methodology
There are many factors to consider when choosing a gold IRA company. With your future financial security at stake, the most crucial consideration is the reputation and integrity of the company you entrust to facilitate your gold purchase. We reviewed 18 companies based on their consumer ratings, using the Business Consumer Alliance, Consumer Affairs, and selected nine companies with the highest ratings from each (AAA with BCA and five stars with CA)
No related posts.