Best Gold Investment Companies on the Market
There is no tougher decision to make with your retirement assets than deciding on the best and most respected gold IRA provider to assist you in safely rolling over a portion of your funds to gold and silver. This article includes the top gold IRA companies that are suggested and trusted after numerous hours of research and direct contact with companies (applicable to any retiree or investment).
The marketplace offers a variety of options for consumers looking to safeguard their financial future, including 403(b)s, cash balance pension plans, health savings accounts, non-qualified annuities, and, of course, the alphabet soup of IRAs – Simple IRA, regular IRA, SEP IRA, and Roth IRA.
There’s one more option for the latter group: a gold IRA.
While gold IRAs are a hot topic in some circles, they are frequently advertised on particular cable networks.
It remains a niche market and one of the most misunderstood investment possibilities.
Many gold IRA companies in this area are similar, but the finest are distinguished by their professionalism and openness. Our top gold IRA companies all have a simple investment process, moderate fees, and committed customer service.
Aside from what exactly is a gold IRA, the following are some of the most often asked questions:
What Will I Learn?
Is It a Good Idea to Put Retirement Money into a Gold IRA Company?
Is the gold market just a con designed to rob someone of their hard-earned retirement funds?
While there are many questions about gold IRA companies and their associated risks and rewards, there are also many solutions.
In this guide to investing in a Gold IRA, we go through the benefits and drawbacks of gold IRAs, how to identify precious metals scammers and how to avoid them, and show you how to get started with a gold IRA.
Comparison of the Best Gold IRA Companies
1. Augusta Precious Metals – Best Overall
Augusta Precious Metals is noted for its competitive price, excellent customer service, and attention to detail. It has a reputation for providing excellent account-lifetime support from a knowledgeable group. Since 2012, Augusta has provided educational opportunities to its customers.
With celebrity clients like Hall of Fame quarterback Joe Montana and near-perfect ratings from Google Business, the National Ethics Association, Facebook Business, and the Better Business Bureau, the company focuses on empowering its customers to take action and protect their savings through transparent, friendly, and standardized assistance.
Unlike other gold IRA companies, Augusta Precious Metals has never received a bad review on any customer website in the 10 years of its existence, indicating that it provides truly outstanding service to Americans.
Augusta has four departments dedicated to providing the best customer experience possible: a customer success agent, a processing team that handles 95% of the documents with you, and economic analytics team that aims to educate you on the market and tangible gold and silver, and an order desk where you can select metals such as gold and silver bullion and coins.
The privately held organization specializes in shifting assets from 403(b), 401(k), and standard IRA accounts to a self-directed IRA backed by gold or silver to protect cash saved for retirement. Its IRA experts specialize in assisting customers through the rollover process step by step to make this method of retirement savings protection as simple as possible.
Goldco provides investors and collectors with gold bullion, gold and silver coins, and additional benefits, such as asset protection and wealth management. The company also has a robust share repurchase program.
Additionally, the gold IRA company works with you to make sure your gold IRA is set up correctly.
Goldco can offer you a complimentary Precious Metals Guide if you wish to brush up on your precious metals expertise before you get started.
The costs charged by Goldco vary depending on the size of your investment and the custodian you choose. Contacting the gold investment company directly is your best chance for the most accurate cost.
Clients award the firm a gold star for dependability, ethics, and service excellence. Goldco also received an A+ from the Better Business Bureau and a AAA rating from the Business Consumer Alliance.
3. Birch Gold Group
Over the course of two decades, Birch Gold Group has built a solid reputation for dealing with actual precious metals. The gold-medal squad also puts its skills to good use by assisting with portfolio diversification through gold, platinum, silver, and palladium.
These financial professionals bring a wealth of experience to the table, having worked for some of the world’s most prestigious financial and technology companies. Birch Gold Group makes your gold IRA procedure simple with this breadth and depth of knowledge, as well as a commitment to excellent customer service.
Customer empowerment, empathy, education, transparency, ethics, and efficiency are all high priorities for the organization. Responsiveness is critical to the Birch team’s job. If you have any queries, you can receive clear answers in a timely manner so that you can make informed choices.
All of the company’s relationships and services are enhanced by the key values of one-on-one care, knowledge, and reliability.
Birch Gold Group is by your side and keeps you informed about the advantages and hazards of precious metals investing. You also learn how to avoid potential scams and schemes.
Keep in mind you can work at your own pace, whether you wish to read the internet or dial a number to speak with a professional. Birch provides you with the knowledge and support you need to feel confident while you diversify your portfolio.
Furthermore, you’re more than a number in a spreadsheet at Birch Gold Group. Additionally, you’re a one-of-a-kind individual with long-term ambitions and objectives.
This gold IRA company can put you in touch with a dedicated precious metals expert. Your professional is well-versed in the field and can learn about your financial ambitions. Throughout your partnership with Birch Gold, the two of you can collaborate to establish comfort and consistency.
When the road to investing becomes rocky, you want someone you can rely on to lead you and offer you peace of mind.
Client testimonies and evaluations reveal the level of trust clients have in Birch Gold. The team can work carefully to earn your trust as you diversify your portfolio. Birch prioritizes you, from providing resources to helping you learn more about investing to refusing to disclose your contact information with anybody else.
Birch Gold Group makes it as simple as possible to open and fund your gold individual retirement account. Setup and custodial fees vary, but depending on the size of your investment or transfer, the company may run promotions with no fees or a free product.
The company sells gold, platinum, silver, and palladium bullion, as well as a variety of coins. Your specialist should give you a current buyback quote if you want to sell your precious metals.
Customer service is what Birch Gold Group is known for, as proven by online testimonials. The Better Business Bureau gave the company an A+ rating. In essence, the goal is for you to be completely satisfied with every engagement, so the customer service team can check in with you often to make sure you’re happy.
Orion Metals Exchange provides a secure and straightforward option to invest in gold. The company volunteers to preserve your future by establishing a gold IRA account and collecting and holding bullion in their Texas-based depository.
In essence, the International Depository Services is where your gold is physically stored. This company does, however, still provide the gold IRA rollover service, which converts your retirement account into a gold IRA.
If your circumstances need it, you can have a gold survival kit forwarded to you, delivered to you, or picked up in person. Orion’s reputation is solid, with positive ratings from the Consumer Affairs Accredited, Better Business Bureau, and Business Consumer Alliance.
Orion Metals Exchange also encourages its clients to learn about gold investing and IRAs by providing a free package that explains the process.
5. Noble Gold Investments
Noble Gold Investments assists clients in achieving financial security and peace of mind with safe and basic gold IRA investments.
In order to help diversify investment portfolios, the company provides precious metal purchases, as well as IRAs secured by gold or silver. Noble Gold’s agents can gladly guide you through numerous financial possibilities without using hard-sell or high-pressure approaches.
Noble Gold bases its claim to exceptional service on three main characteristics: dependability, knowledge, and friendliness.
Financial products are well-understood by the group. The Noble goal comprises not only preserving wealth but also harnessing knowledge and abilities to provide value to its consumers.
Investment knowledge is anticipated of a company of this size, but the Noble team’s talents are wide. These skills are matched with a company-wide dedication to treating customers with respect and honesty, allowing you to feel like friends as you embark on your retirement investment path.
Noble Gold’s commitment to honesty and kindness begins at the top, with the founding friends. They are dedicated to offering high-quality, personable assistance. Noble Gold has a great working relationship with other industry professionals, so if you require a service that Noble Gold does not offer, the staff can gladly hook you up with someone who does.
The organization offers a straightforward three-step approach for using a gold IRA to preserve your retirement funds.
First, Noble provides you with a free investment guide to assist you in understanding the process. Over flashy sales tactics and industry jargon, the organization prefers facts and understanding. You can make smarter financial decisions if you learn more about precious metals IRAs.
After that, you can speak with a trusted advisor who has the experience and understanding necessary to meet your needs and help you achieve your goals.
Finally, your advisor can walk you through the process of opening a gold IRA in less than five minutes.
According to the Noble Gold website, the company’s access to a diverse selection of suppliers enables it to offer the most affordable prices and best deals in the business. The company offers gold IRAs, as well as gold, platinum, silver, and rare and palladium coins.
Customers can take advantage of Noble’s no-questions-asked buyback option when their circumstances change.
With five-star reviews, secure storage and delivery, an A+ rating from the Better Business Bureau, a prohibition on unethical business activities, and an AA rating from the Business Consumer Alliance, Noble Gold Investments is an outstanding choice.
6. Regal Assets
Regal Assets claims to have one of the “highest rating profiles” in the business, citing acclaim from Inc 500, Bloomberg, Forbes, Huffington Post, and even celebrities like Laura Ingraham and Dennis Miller.
Clients can use the company to transfer IRA or 401k accounts, as well as SEP 403(b), and TSP plans. Additionally, clients benefit from additional product options not accessible anywhere else, which makes Regal Assets stand apart.
Because linked vaults are in numerous international cities, you can have fully insured assets, segregated metal storage at a cheap cost, and the opportunity to have gold bullion delivered to your location anywhere in the world.
You can also earn a low fixed rate for the duration of your account, rather than a percentage of your investment. Regal is one of the most well-known gold investment organizations in the world thanks to these goods, as well as round-the-clock supervision and secure vaults.
7. Patriot Gold
Patriot Gold is a precious metals merchant that specializes in gold IRAs that are self-directed. Qualifying investors can get paid for rollover, storage, and insurance fees on accounts of a specific amount under its “no fees for life” scheme.
This program has minimum account levels, but if you have a substantial amount to invest, you could save money in the long run.
8. American Hartford Gold
The goal of American Hartford Gold was to help Americans escape market volatility once they retired. It has a good reputation with high ratings from the Business Consumer Alliance and Google Business.
Three years in a row, the company received the Better Business Bureau’s annual five-star rating. Hartford Gold offers education, market analysis, and news, as well as a chat with a Senior Portfolio Manager who can assist you in learning about the market.
This Gold IRA company assists clients in opening a gold IRA account with a certified custodian without incurring any tax penalties.
On-site gold coins are also available, and American Hartford Gold has been featured in prominent news outlets such as Fox News, Forbes, and The Wall Street Journal.
The company is also committed to philanthropy, donating its proceeds to three veteran organizations.
9. Advantage Gold
Advantage Gold claims to be the market leader in precious metal IRA rollovers, and it’s difficult to refute its accomplishment after winning the Best of TrustLink Award three years in a row.
The organization, situated in Los Angeles, can convert IRA or 401k money into gold and educate consumers along the route.
Advantage Gold’s customer service has received great marks for promptness, full-service customer assistance, and hundreds of good reviews, in addition to its generous repurchase policy.
Not only does the organization have an A+ reputation with the Better Business Bureau, but it also uses TrustLink and TrustPilot to validate positive gold IRA reviews.
What Is a Gold IRA Account?
Before we get into the details of gold IRAs, let’s take a look at how the two components – gold and an IRA – relate to investment.
Gold is a rare and valuable metal. It is seen as a diversified investment, similar to stocks, bonds, and real estate. It’s also seen as a hedge against the US dollar’s more volatile behavior (relatively speaking).
This metal can be held as a hedge against inflation or as a way to profit from rising gold prices, according to investment techniques.
Looking at the price of gold today versus roughly 50 years ago is a good example of why it may be considered a good investment.
Gold was valued at $35 an ounce at the start of 1970. On the open market, an ounce of gold cost $1,282 at the end of 2018.
In 1970, if you had $35 in cash, you could have been better off. Yes, it’s still worth $35 in cash today, albeit inflation has substantially diminished its purchasing power. In fact, gold investing entails more than comparing historical periods that are half a century apart.
We´re going to go into the benefits and drawbacks of gold investing later, as well as why it’s not for everyone. First, let’s focus on the other half of the gold IRA equation: the IRA.
Individual retirement accounts, or IRAs, are simply that: investment accounts for retirement.
Traditional IRAs allow individuals to make pre-tax contributions to their retirement accounts. Dividends and capital gains taxes are not assessed on the accounts as they grow.
In the end, income tax is only assessed when you remove funds from a traditional IRA.
Another well-known IRA is the Roth IRA, which is comparable to a traditional IRA in most ways except that it is funded with after-tax income. Stocks, Cash, and bonds are the only assets held in traditional and Roth IRAs.
Combining all of these ideas, a gold IRA is a type of precious metals IRA account in which the investment is gold, whether in IRS-approved coins and bars or other precious metals, rather than the more traditional IRA assets of bonds and equities.
Pre-tax or post-tax income can be used to fund the account.
Before you invest in a gold IRA, there are a few things you should know.
Unlike standard or Roth IRAs, a Gold IRA requires a great deal of attention to detail.
These accounts are referred to as self-directed IRAs, and they are governed by certain guidelines set forth by the Internal Revenue Service (IRS).
IRA Gold Investing Options
Understanding what you may and cannot invest in as part of your precious metal IRA is the most critical aspect of a gold IRA.
Silver, palladium, and platinum are among the precious metals, and each has an approved list of bullion bars and coins that can be included in a precious metal IRA.
However, because this article concentrates on gold, the most important criterion in achieving IRS requirements is that the gold must have a purity grade of 0.995 or greater.
The IRS, on the other hand, prohibits the use of collectibles in gold or precious metal IRAs.
While these objects are attractive and frequently included in large private collections or other investment endeavors, they frequently do not fulfill the IRS purity criteria or are valued at a considerably higher level.
Unsurprisingly, the list of those who haven’t been approved is much longer.
Gold investments, on the other hand, aren’t only about the physical metal.
Other gold investments involve peripheral considerations or exchange-traded funds (ETFs), which are “paper” investments.
These are some of them:
• ETF that invests in gold commodities
• Futures contracts on precious metals
• Mutual funds that invest in precious metals
• Gold mining companies’ stock
Additionally, for those who are more risk-averse than keeping real gold, gold paper investments may be more appealing, and if you want to diversify your gold portfolio even further, talk to your broker about paper choices.
Rules and Regulations for Gold IRAs
IRS laws control the creation and maintenance of gold IRAs, just as they do for all other IRAs.
We’re going to go over a couple of the points in further detail (administrators, storage), but here’s a quick rundown of some major gold IRA rules and restrictions:
If you wish to open a gold IRA, you must do it with an administrator who is familiar with precious metals and that has been approved by the IRS.
Administrators (custodians, brokers, and so on) are still required to act on your behalf, even if you direct them personally.
The IRS requires that gold and other precious metals in an IRA be stored in vaults recognized by the IRS.
Furthermore, the IRS considers your actual possession of the gold to be a distribution, which means it’s liable to taxes and penalties.
Regulations on Taxation
At the point of withdrawal, distributions (taking actual possession of the gold) are liable to income tax.
Unless it falls under a predetermined exclusion, early distributions are subject to a 10% charge. Profits may be subject to further assessments as a result of capital gains tax.
Limitations on Contribution
The yearly contribution limit for a gold IRA is $6,000, climbing to $7,000 once you turn 50.
It is possible to fund it through a rollover or a purchase made through your administrator.
Access to your gold IRA is prohibited until you reach the age of 59 and a half, though you are not required to begin drawing distributions at that time.
You can, however, start taking distributions at the age of 70.
Limitations on Early Withdrawal
While there is a 10% penalty for early withdrawals, there are a number of exceptions to the regulation, including:
• If an IRA owner becomes incapacitated or hospitalized, he or she is unable to pay their medical bills
• When an IRA owner passes away, their beneficiary needs access to the funds
• Also, when an IRA owner loses his or her job, he or she requires access to funds
• The owner of an IRA wants to utilize the money to buy a new, first-time home (up to $10,000) or to pay for a family member’s schooling
What Are the Benefits of Investing in a Gold-Based IRA?
If you’re looking for a way to diversify your portfolio, gold IRA accounts are a great option. Though the price of gold fluctuates from day to day due to various economic reasons, it tends to rise during periods of uncertainty or turmoil. When it comes to retirement planning, this can undoubtedly provide you peace of mind.
Gold IRAs, like the stock market or any other investment, comes with dangers, though gold investing has historically been more reliable. The most significant benefit of a gold IRA is the potential to diversify your retirement portfolio. Although gold IRAs do not provide dividends like stocks, they do offer some protection against inflation and recession. Gold tends to rise as cash values fall.
Because of its more complex nature, stringent IRS requirements, and higher costs, several industry experts scoff at the idea of gold IRAs or precious metals IRAs. Furthermore, they recommend purchasing silver or gold bars if you wish to acquire physical gold or other precious metals. You don’t have to worry about cumbersome restrictions or depository requirements if you don’t keep these assets in an IRA.
Gold IRAs may be a good option if you want to diversify your retirement portfolio and protect yourself from economic volatility. You should invest a tiny amount of your money in an alternative investment, preferably less than 10%. You shouldn’t be subject to the IRS limits of $6,000 per year ($7,000 if you’re 50 or older) if you start your gold IRA or precious metals IRA with a rollover.
Before contacting a specialized gold IRA company to take the following steps to make gold purchases, consult with your financial advisor to see if the gold route can take you where you want to go.
Should You Buy Gold Bullion or Gold Coins from Gold IRA Companies?
The precious metals you can choose for your gold IRA are restricted by the Internal Revenue Service. Any gold must be 99.5 percent pure to stay in compliance.
When you choose a gold IRA company that offers gold IRA services, your account representative can use their knowledge of the industry to help you in making your decision.
The American Eagle bullion coins from the United States Mint are popular among investors. Australian Koala bullion coins and Canadian Maple Leaf coins are two other popular IRS-approved options. However, you cannot finance your precious metals IRA with British Sovereigns, German Marks, Swiss Francs, collectibles, or rare coins according to the IRS.
In comparison to bars, coins have a few advantages. It’s easy to sell and transport them. Coins are less expensive to deliver because they are lightweight and require less protection. They’re also more difficult to replicate.
One big advantage of bullion is that it more properly reflects the current market price for precious metals.
Bullion earns a higher commission than coins, so choose a gold IRA provider that earns a higher commission on bullion. Any good gold IRA company, including those on our list, should not force clients to purchase something they don’t want only to make more money. If you feel like you’re being sold hard, you might want to reconsider your agent or gold IRA company.
Finally, you must decide whether to buy bullion or coins based on your personal preferences. Take advantage of the gold IRA companies’ resources and user education. Speak with your representative and take advantage of the experience they’ve gathered from working with other clients. Then, once you have all of the information, you need to make an informed decision: choose gold coins or bullion.
Where to Begin?
While there are multiple moving elements, opening a gold IRA is, for the most part, a straightforward process.
In order to begin, decide whether you wish to transfer funds from an existing gold IRA company to another or roll them over.
You receive the money from the originating account and deposit them into the new gold IRA, normally with your custodian, in a rollover. This transaction can take up to 60 days to complete.
Otherwise, the IRS may treat it as a withdrawal, and you can be taxed and charged the 10% early withdrawal penalty (if under the age limit for distributions). You’re only allowed one rollover each year.
Money is sent directly from the old account to the new gold IRA companies in a transfer. You have no limit on how many transfers you can make.
The next step is to choose a custodian for your gold IRA. As previously stated, you need to thoroughly examine the benefits and drawbacks of numerous gold IRA companies in order to pick one that is not only reliable and trustworthy but also works towards your financial objectives.
You should also figure out your gold IRA investment strategy as part of this procedure.
If you just want to diversify your portfolio, anything around 10% or below should suffice. On the other hand, if you’re hedging against a loss of value in paper currencies, a 10% to 15% investment is pretty usual.
Moreover, if your goal is to bet on gold’s ability to rise in the short term, a 15% (or higher) commitment might result in significant rewards.
However, as stated, this strategy comes with significant dangers if the market moves in the opposite direction.
When you’re ready, the final step is to complete the actual gold transaction.
Select just those IRS-approved gold IRA companies with transparent pricing and policies, favorable ratings, and excellent client reputations, just as you do with custodians.
We hope that this post helped you compare the top gold IRA investment companies and figure out which one is ideal for you to invest in gold with.