If you have decided to invest in a Precious Metals IRA in 2020 (or rollover a previous retirement vehicle such as a 401k or 403b to a Gold IRA), your next step is to decide which Precious Metals IRA company to work with. This is not a decision to take lightly, as some companies have a better track record than others. Some have even been accused of fraud! Also, it is important to know that some companies handle the entire process (including dealing with your IRA custodian and providing storage) while others simply sell the metals. Here is a comparison chart that will help you make an enlightened decision. We have extracted the most recent ratings of each company on authority review boards such as the BBB, BCA, TrustLink and others. Click on the “View Full Review” button next to each company to see a more detailed review. Don’t forget to print out this page for future reference!
Note: we strongly recommend that do your due diligence and call a few different companies before making an investment decision. Also, speak to your financial advisor before investing in any asset class.
#1. Best of the Best
Regal Assets
Regal Assets is my #1 choice for a wide variety of reasons. Over the years, they’ve received excellent customer reviews and very few complaints. Their pricing structure is competitive, their customer service is second to none, and they provide their customers with a buyback program. At the time of this writing, Regal Assets doesn’t charge any rollover or transfer fees.
#2. Top Gold IRA
GoldCo
Goldco is my #2 choice for many good reasons. They have years of experience in the industry, so they know what they’re doing. They provide their customers with educational material, complete transparency, and excellent customer service. Their dedicated staff is available to help you every step of the way during the IRA transfer or rollover process.
#3. Best Ratings
Birch Gold
Birch Gold is my 3rd favorite precious metals broker for reasons that are too numerous to count. For starters, over the past 17+ years they’ve satisfied many happy customers. Their online reviews are impeccable and they’ve received endorsements from some of the top investors in the industry. Peter Schiff, Steve Forbes, and Jim Rogers can’t be wrong! Besides all of their incredible accolades, they have an amazing customer service staff that will help you every step of the way.
#4. Excellent Services
Augusta Precious Metals
Augusta Precious Metals is ranked #4 on my top 10 list. This successful company has excellent ratings and reviews on the top online review websites. Many happy customers have provided flawless reviews about this business and shared them online. Their service is excellent, their staff is open and honest with their customers, and they provide friendly and professional services. This precious metal broker is a company that you can trust.
#5. Top Education
Goldsilver
Goldsilver is ranked #5 for a very good reason. They focus on providing investor education and their founder, Mike Maloney, has an excellent reputation in this regard. They also charge competitive prices, have the right policies in place, and practice what they preach. Investors will benefit tremendously when doing business with Goldsilver. They have good customer service, a solid reputation, and they’ve received many accolades throughout the years.
#6. Excellent Customer Service
Cornerstone Bullion
Cornerstone Bullion is ranked 6th on my top 10 list. They’ve received this high-ranking position because they provide a wide range of gold and silver products. The company only does business with trusted depositories including Dakota Depository, Delaware Depository, Idaho Armored Vaults. And The Entrust Group is their favorite IRA custodian of all. Customers love doing business with this organization because they answer questions and alleviate concerns fast.
#7. Great Industry Reputation
Advantage Gold
Advantage Gold has the distinct honor of ranking 7th on my list. I feel comfortable recommending this company for a number of reasons. Although more expensive than other options, they have a great reputation in this industry. Their customer service and support are fully professional, and the account creation setup process is easy to implement and understand. They’re helpful to beginners and they’re an excellent choice for anyone new to the precious metals IRA industry.
#8. Convenient Buyback Program
APMEX
APMEX is ranked 8th on our list for good reason. For the most part, customers seem to have a positive experience while doing business with this company. They process orders quickly and efficiently. Their customer service staff is easy to talk to and they’re willing to answer every one of your questions. Their website is simple to understand and easy to navigate. And they deliver their products quickly in secure and discrete packaging.
#9. Over 50 Years in the Business
Monex
Monex is 9th on our list because of the 50+ years of experience that Louis E. Carabini brings to the table. This company specializes in providing high-quality bullion coins and bars in the form of platinum, palladium, silver, and gold. According to their company literature, roughly 80% of their business is repeat business. This means they have many happy customers that continue to buy precious metals from them over and over again.
#10. Wide Range of Services
California Numismatic Investments
California Numismatic Investments is the 10th precious metals broker on our top 10 list. They provide independent services and encourage their customers to invest through a precious metals IRA. Their preferred custodian is Goldstar Trust Company, who has an excellent reputation. And according to previous happy customers, their annual service fees are reasonable. You’ll also have to pay a fee to their recommended IRA custodian as well, so keep that in mind.
Benefits of Having a 5-20% Gold & Silver Allocation in your IRA
An example of the famous Tony Robbins “All Seasons portfolio” which has an estimated 8% gold allocation.
- Hedge against the declining dollar and money printing policies. Again, history has shown that any decline in the value of the dollar correlates with a rise in the price of gold. While all other assets tend to follow the health of the dollar, gold gives your portfolio additional protection in case the dollar goes south.
- Safe haven in times of geopolitical, economical and financial turmoil. Gold is often called the “crisis commodity”, because people worldwide flee to its relative safety when world tensions rise. While governments and central banks respond to crises by printing more money, gold cannot be produced and the limited supplies make it a hot commodity during those times.
- Hedge against inflation AND deflation. History has shown that gold not only responds positively during inflationary times but holds up against deflation as well.
- Supply and demand fundamentals. Gold is not just a beautiful shiny metal, it has real life commercial uses in various industries such as electronics, architecture, high-technology, medicine and more. There are a limited amount of gold mines, and less mines are being discovered each year.
- Store of value. As mentioned initially, you don’t necessarily get rich by owning gold. That is not the point of investing in physical metals. However, unlike stocks and bonds, the value of gold can never be zero.
- Portfolio Diversification and Protection. As pointed out previously, gold has had a negative correlation to stocks, bonds and the dollar. Is your portfolio stock-heavy? All successful investors will tell you that when it comes to investing: you don’t want to put all your eggs in the same basket.
5 Things to Look For When Choosing a Gold IRA Company
This comparison chart is meant to help you compare the ratings & reviews of the most popular Precious Metal IRA dealers. When choosing a company, we recommend looking at these four elements:
#1 Ratings, Ratings & Ratings!
The more positive reviews a company has from its existing client base, the better. Additionally, ratings from authority bureaus like the BBB (Better Business Bureau), BCA (Business Consumer Alliance) and Trustlink are paramount. Feedback from previous clients on websites like YP, Complaint Board and Yelp are also great indicators of the company’s professionalism and service quality.
#2 IRA Fee Structure
Always choose a company with flat annual fees, as opposed to companies who have a scaled fee model that grows with the account size. This is especially true for medium and large investors (c.f. $50,000+) and those planning to grow their account size over time. Some of the companies we reviewed can charge thousands of dollars per year for large accounts!
#3 Efficiency & Delivery Time
Some clients reported that they waited up to 60 days for their accounts to be set up and their precious metals to be delivered. This is simply unacceptable in today’s uncertain economic landscape.
#4 Pushy Salesmen or Unfriendly Customer Support
Some agents will try to push you to invest in collectibles and numismatic coins simply because these will yield much high profits for them. This is a major red flag and we strongly recommend that you stay away from companies with such practices. Collectibles are NOT recommended for investors, and they are not approved by the IRS for IRAs. When you contact a Precious Metal IRA company, ask them as many questions as you can to see how knowledgeable and helpful they are. If you feel rushed or pushed into collectibles, move on to the next one.
# 5 Other Alternative Investment Options Available?
Your new Gold IRA can accommodate additional alternative investments in the future since it is a self-directed IRA. Is the company you are working with able to offer additional alternative investment options such as cryptocurrencies or other potentially interesting investments that you could include in your portfolio? That is a question you should ask.
Top Gold IRA Summary
We recommend that you contact a few companies before making a decision. Compare their service, products, and fees. Also, speak to your financial advisor before making any investment decision.
FAQ
What is a Gold IRA?
A Gold IRA, or a Precious Metals IRA, is essentially a self-directed IRA used to invest in physical metals. Only certain custodians offer such as investment product. You will not find it at Vanguard, Charles Schwab or any other standard financial/brokerage firm, as those tend to specialize in paper investment like stocks, bonds, and ETFs. It is also worth noting that not all physical metals are eligible to be held in a Gold IRA. Only high purity bullion products like the American Eagle, American Buffalo, and the Canadian Maple Leaf products are IRS-approved to be held in a Gold IRA. Beware of a company that tries to convince you to invest in numismatic or collectibles.
How does a gold IRA work?
A Gold IRA, or a Precious Metals IRA, is a complex bureaucratic endeavor that involves a custodian, a dealer, and a depository. The IRS is very strict when it comes to opening a Gold IRA or rolling over a previous 401(k) or IRA into a Precious Metals IRA. This means that any mistake in the process can end up costing you thousands of dollars in penalties and tax implications. This is why it is paramount to choose a company that has a stellar track record in opening Gold IRAs.
What is IRA approved gold and silver?
Only certain bullion coin and bars are approved by the IRS for investment within an IRA. This has to do with purity level and issuing mint. The American eagles, Canadian maple leafs, Austrian Philharmonic are examples of bullion coins of high purity levels that are issued by recognized governments. Collectible coins and numismatics are NOT approved for IRA investments. Be careful when you shop around for Gold IRA companies because many of them are known to push collectibles and numismatics to their clients to raise their profit margins. A reputable and trustworthy IRA company should only recommend bullion coins that are IRA approved.
What is a Gold IRA Company?
A Gold IRA Company or Custodian is a company that specializes in setting up Gold IRAs from beginning to end, including account setup, IRA rollover/transfer, purchase of qualified metals, and storing them with an accredited depository. A Gold IRA Company should be able to handle the entire process for you and answer any question you may have at any step of the process. Gold IRA Companies tend to form strategic alliances with traditional IRA custodians, accredited depositories, and wholesale metal dealers. Example: Regal Assets partners with New Direction IRA, Dillon Gage and Brinks Worldwide for the Precious Metals IRA setup. They also partner up with Lloyds of London for insurance and have other partners for their other alternative investments.
Are these Gold IRA Reviews Legit and Unbiased?
These reviews are totally legit and unbiased since we are simply extracting reviews from external review bureaus like the BBB, TrustLink, the BCA and others. We are an independent Gold IRA magazine with a mission to provide you with all your options. However, as we disclosed on other pages, we DO get compensated when you fill out forms or click on certain links on this page. This doesn’t affect the quality of the reviews since we are rating these Gold IRA companies based on what their own customers are saying about them, and based on their fees and other important criteria. We encourage you to do your due diligence and contact several companies before making an investment decision. Also, speak to your financial advisor and ask for their advice.
What are the top Gold IRA scams I should watch out for?
The #1 scam in this industry is companies trying to sell you numismatics and unqualified gold coins in your IRA. Why? Because these coins yield much higher profits for them. 30%-50%+ profit margins on numismatic coins are very attractive margins for some brokers. Buying such coins can end up costing you thousands in penalties as they are NOT eligible to be held in IRAs.
Should all companies offer Home Storage for my Gold IRA?
Home storage is a GREY AREA. Proceed with extreme caution if you plan to take this route. Regal Assets does NOT offer this option as they don’t want to put their clients at risk, but other companies we reviewed on this page do. If you decide to choose home storage for your Gold IRA, make sure you ask the company all the details and legalities involved in such a decision. We recommend a safe depository, either in the US or offshore, as it’s generally safer. Choose offshore storage such as Cayman Islands, Canada or Singapore if you want your gold out of the US government’s reach (multiple companies offer offshore storage). However, home storage is NOT a recommended option here at Gold IRA Guide. It can put you in big legal trouble with the IRS if they find out, and there’s also the risk of theft and loss. Depositories are insured against all these risks.
Why do Gold IRA Companies offer free kits?
It’s marketing 101. All businesses in the world want to lure you in by giving you a freebie. Just like in any industry, companies want to get your contact information so they can have you in their database and be able to contact you. This space is no different than any other industry. However, requesting a Gold IRA kit from a company is something you should do before investing any sum of money with them or doing any rollover. The kits are usually 100% free and no obligation, so you don’t risk much. Sure, they can email you and call you but you can opt-out of emails and tell their brokers to stop calling you after the first phone call if you aren’t interested. They won’t be able to pester you after that.
How do I choose the best company to invest with?
It depends on many factors. What do you care about most? Ratings? Storage options? Availability of other alternative investment options? Physical location? Customer support? Once you decide which factors matter the most to you, make a shortlist of a few companies that meet your criteria, and either give them a call, or request their free gold kits to learn more about their company and products.