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Top 8 Gold IRA Companies of 2022 Reviewed

Gold has long been a top contender amidst a recession or increased volatility. Although it has its ups and downs, it seldomly hits rock bottom like some stocks and even cryptocurrencies do. This is not to say that our society will face turmoil forever. Instead, individuals should perceive gold as a haven. Like gold bullions, gold IRAs are interesting because they protect existing wealth in time for retirement.

A significant benefit we see in such accounts is their versatility. Precisely, said accounts hold gold and other precious metals as well. With how things are shaping worldwide, our editorial team figured there’s no better time than today to discuss gold IRAs. The purpose of this guide is beyond revealing the top service providers of 2022. We hope this guide is one of the most comprehensive resources of gold IRAs that resolve as many doubts as thinkable.

The Top 8 Gold IRA Companies in 2022

Before going over the ranking system that permitted us to cross paths with the top 8 gold IRA companies, we feel providing a brief on each will help interested parties see how they compare across the industry. Let’s get right to it:

  • Advantage Gold
  • Augusta Precious Metals
  • American Hartford Gold
  • Birch Gold Group
  • GoldCo
  • Gold Allied Trust
  • Noble Gold
  • Regal Assets

Advantage Gold

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In Los Angeles, California, Advantage Gold is a leader in precious metal IRA rollovers. Specifically, their experts help convert an existing IRA or eligible 401(k) into a gold or other precious metals IRA. This service intends to provide everyone with comprehensive information that facilitates decision-making for a better retirement.

By joining Advantage Gold, five things are guaranteed from the team’s end. These include education on available options, setting up the IRA account, directly contacting on behalf of the client to process the rollover, assisting whenever the need arises, and offering any buyback services should individuals want to liquidate their metals.

The co-founders are Kirill Zagalsky and Adam Baratta. The former claims to have previously served as a Senior Account Executive (specializing in precious metal IRA accounts) at a national U.S. Mint-listed dealer. The latter worked a similar role and prided himself on working closely with every client to best achieve long-term metals investment goals. Did we mention that he also happens to be a two times national bestselling financial author and self-made millionaire investor?

We decided to scroll through the official website, and right off the bat, we were impressed by the wealth of knowledge. Whether it be exclusive interviews with gold specialists or something as simple as understanding the benefit of investing in gold, video content is available. Likewise, their learning center includes IRA information, chart analysis, retirement tools, infographics, the ins and outs of 401(k) fees, and even a free guide.

In addition to their educational collection, Advantage Gold has been A+ Rated BBB Accredited since 2014, has a 100% rating based on 352 reviews on TrustLink, and a 99% rating based on 680 reviews on Trustpilot. Finally, gold IRA accounts can currently hold gold, silver, platinum, and palladium coins! Regarding cons, only two struck us; the absence of bullions and bars as options and fees. As per existing reviews, the transparency on the transactional costs (i.e., commissions) is lacking, which is a concern for most.

Augusta Precious Metals

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Augusta Precious Metals is the next gold IRA company on our list, devoted to helping interested parties diversify their retirement with gold and silver bullion and premium coins. By joining Augusta Precious Metals, individuals will learn more about precious metals in store, how to add gold and silver to increase holdings, ensure peace of mind over the long run, understand and manage distribution amidst liquidation and build a legacy for future generations to come.

Having said that, what we found comforting about Augusta Precious Metals is their level of transparency. We wouldn’t say it is top-notch, but they appear to cover the basics. First, there are no management fees with the gold and silver IRA. The only fee for each account holder is the custodian account setup and depository storage fees. Second, the team avows that their physical storage has been all-risk insured for $1 billion by Lloyd’s of London.

Their depository choice has been exchange-approved for CME and ICE and is IRS compliant. This team also provides a heap of educational resources to keep everyone informed. Finally, Augusta Precious Metals is A+ Rated BBB Accredited and has a 98% rating based on TrustLink reviews. We recommend people steer clear from the customer service chatbox, as none of their support agents provide helpful assistance. Many of their messages appear automated, so it is best to call the number available on the official website directly.

Augusta’s precious metals collection is somewhat meek compared to the former IRA company, considering that only two metals can be purchased. The minimum investment is higher than other services on this list, as it is presently sitting at around $50,000, but known fees only come out to about $180 yearly. Lastly, no online purchases can be made.

American Hartford Gold

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At American Hartford Gold, the goal is to help individuals and families protect their wealth by diversifying with gold and silver. Based in Los Angeles, services currently offered include the Precious Metals IRA, the Gold IRA Rollover, the Silver IRA Rollover, and the physical delivery of gold and silver bars and coins.

This company also has an A+ rating with the BBB with multiple 5-star customer satisfaction ratings on platforms such as Trustpilot and Google. Moreover, they’ve earned bragging rights as one of America’s fastest-growing private companies in 2021. CEO Sanford Mann has over a decade of experience in the precious metals industry, with the president, Scott Gerlis, bringing equally strong expertise to the company.

It should be clear that education is imperative, and by default, American Hartford Gold’s free resources are easily accessible and provide some insight into the nature of precious metals. Unlike most services, getting started with American Hartford Gold only requires $10,000, which is far more doable than $50,000.

Cons that were brought up to date include a lack of transparency on the pricing of precious metals, delays in shipments, and some pressure tactics to hurry individuals into deciding. A select few felt communication dissipated afterward in the latter case, which might not always be a good thing, especially if questions need clarifying.

Birch Gold Group

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Operating in the U.S. since 2003, Birch Gold Group is on a mission to help customers diversify their portfolios with gold, silver, platinum, and palladium. By joining this company, individuals are provided with assistance in every step, whether purchasing, converting an existing retirement account into a Precious Metals IRA, or setting up a new IRA account.

As with most of our top contenders, Birch Gold Group is known for its reputation for excellence throughout the industry. Specifically, they have been proudly maintaining an A+ rating with BBB, an AAA rating from Business Consumer Alliance, and have garnered 5-star reviews on websites like Consumer Affairs and GoldDealerReviews.com. Then there’s their education center filled with guides that provide tips and tricks on identifying and avoiding common scams and investment schemes, why choose gold, to begin with, interviews with industry experts, and so on.

In scrolling through the official website, the team recommends a $10,000 minimum in the Precious Metals IRA; however, the one-time purchase limit is $5,000. This might be problematic for people looking to make larger purchases. That said, we admire their level of transparency, as individuals are presented with the breakdown of one-time and annual fees. There have been some concerns regarding buyback pricing. Hence, we encourage everyone to review all Birch Gold Group’s policies before proceeding.

GoldCo

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GoldCo has over a decade of experience helping individuals and families protect their retirement savings. For people with an IRA, 401(k), 403(b), TSP, savings, or any similar tax-advantaged retirement account, the team at GoldCo avows to protect them with a Precious Metals IRA. Additionally, they claim to offer direct sales of gold and silver to customers.

Steps to set up the gold IRA account have been listed, along with the assets available for purchase. Currently, the pricing isn’t available, but individuals can estimate the value based on the detailed characteristics found with each listing. Nevertheless, news and articles on precious metals are presented for browsing and keeping up with the market.

The minimum investment sits at $25,000, which isn’t for everyone. The same goes for people looking for a rich collection, as this company neither offers palladium and platinum nor is their collection of bullions and bars that impressive. Fortunately, they are supposedly known for competitive buyback prices. Customer reviews suggest that GoldCo’s support team isn’t what it’s made out to be.

While the majority seemed pleased by the service, common complaints came from those who still needed time to decide. Instead of providing additional resources, customers were accused of not being serious about getting started. We weren’t thrilled by this, but such cases were apparent during our search. Therefore, individuals will have to do their due diligence and follow their gut instances at times!

Gold Allied Trust

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At Gold Allied Trust, individuals access a wide range of precious metals and services tailored to specific goals. The necessary information and strategic plan will be delivered to navigate this rich yet complex industry by resorting to their free consultations. Furthermore, our editorial team was fond of the available market insights and free guides that walk everyone through present-day movements and in-depth information on securing physical gold and silver inside or outside a retirement account.

As we browsed through their website, it seemed simple. We have a 39-page guide on gold IRA, primarily laying out the pros and cons in layman’s terms on the main page. The next step would be to schedule a free consultation, typically booked during standard business hours. Our editorial team wasn’t entirely convinced by Gold Allied Trust, seeing how their website isn’t as transparent regarding the types of precious metals available, fee breakdowns, etc.

After reviewing external sources, we learned that their fees are higher than most gold IRA companies. Additionally, there’s only so much browsing one can do seeing the limited nature of their IRA-eligible assets. This service is more suited for someone needing guidance from beginning to end and not so much for experienced people who prefer to learn independently.

Noble Gold

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At Noble Gold, the goal is to support clients’ wealth preservation endeavors. As means of contribution, this team avows to provide education on precious metals and their benefits in both the short and long run. Based in Pasadena, California, Noble Gold is all for balancing portfolios for long-term investing and retirement, seeing precious metals as a foundation of financial success. President and CEO Collin Plume has looked after wealth for his clients for over 15 years, including experience in property insurance and commercial real estate. Why did he choose precious metals? After conducting extensive research on recession and its possible effects, he naturally turned to the asset class.

Some reasons in support of this company include their free investment kit, their trusted advisors, and the ability to get started with an IRA in just 5 minutes. Others include being a BBB accredited business, positive feedback via TrustLink, being top-rated four years in a row by Consumer Affairs, and having associations with Business Consumer Alliance and Royal Canadian Mint. Although their focus is merely gold and silver, we admire this team’s transparency. Specifically, they clarify metal purity stands from the get-go. Additionally, the state where coins are IRS approved and a brief on the coin history and design. How can we neglect the mountains of learning resources available online and positive customer reviews?

There may be slight downsides to Noble Gold, depending on the type of investor. This company might not meet the mark for people looking for history, as they’ve only been operating since 2017. Yet our editorial team sees power in this company because the people running it has decades of experience, which would be reflected in the services offered. Other reported cons include the absence of coin price listing, a $10,000 starting investment, and probable costs linked to storage (e.g., $80 annual fee for gold plus $150 for storage).

Regal Assets

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Lastly, we have Regal Assets, a company that offers IRAs with precious metals and cryptocurrencies. Founded by Tyler Gallagher, Regal Assets took shape to simplify, innovate and rejuvenate the alternative assets investment landscape. Ten years later, this company remains one of the highest-rated alternative assets firms in the U.S., with recognition from Forbes, Smart Money, and The Huffington Post. Regarding metals, we have not only gold but also silver, platinum, and palladium coins and bullions! As seen with all the selected companies, the coin pricing list is unavailable, but this team does provide a glimpse into the asset’s design and history.

Starting with the pros, Regal’s history speaks miles on end. Then we have their free resources on assets that can be included in an IRA account. We were equally pleased by the general knowledge of how much of one’s net worth should be invested in gold and silver (with examples of leading business people’s portfolio allocations). In terms of fees, individuals will have to pay a flat rate of $250 yearly for custodial and management. The initial investment is $5000, which opens doors to many more investors, and their services have been backed by $500 million in account transfers and rollovers.

Now for the cons, customer reviews suggest that the buying process may be a bit more extensive compared to others. Likewise, individuals may find complaints regarding long rollover times. Finally, purchasing options are deemed quite limited, with no online purchases allowed.

The Ranking Process for the Best Gold IRA Companies

Our final contenders were selected from several based on a customizable ranking system. Devised by our in-house team, the following basic qualities had to be met for the company to undergo a full breakdown:

Company Reputation & Integrity

Company reputation and integrity are essential for just about any industry. Still, since we are dealing with services that determine wealth preservation, our editorial team needed this factor to be checked off before proceeding to the next steps. Facets glued into reputation and integrity include accreditations, customer reviews that thoroughly expound on the good or bad (Rated BBB Accredited, Trustpilot, TrustLink, Consumer Affairs, etc.), whether representatives instill pressure or push unnecessary products (a big no-no for all investors), delivery of assets (if applicable), etc.

Types of Metals

Although this guide is devoted to gold IRAs, we were open to other precious metals such as silver, palladium, and platinum. The reason for this rests in the mere fact that it facilitates the process of elimination. In our minds, the more options a company provides, the better the opportunity for diversification. Equally, investors may be interested in fueling their IRAs with coins and bullions and not just one or the other. This wasn’t entirely a deal-breaker, but we were undoubtedly leaning towards diversification more than anything else.

Fees & Location Transparency

Depending on the type of service offered, fees are likely to vary. The goal wasn’t to choose a company that offers the lowest or highest possible rate. Instead, we wanted to see how transparent companies are. From many customer reviews analyzed, people were dissatisfied with a lack of fees breakdown, whether regarding the pricing of coins or bullions, initial investment options and rollover, storage, maintenance, or custodial and managerial fees. A recollection of where the company is located was a plus, especially for people who prefer access to every conceivable information regarding the company itself.

Buyback policy

A buyback policy is usually in place for investors to sell back any precious metals purchased through the company of choice. The company will be the one to decide whether to charge a higher price on certain coins or bullions or to resort to the spot price at liquidation (i.e., the current market price paid to sell the asset). We strongly advise interested parties to review every available buyback policy (if applicable) across the industry before landing on the final pick.

Educational Resources

As with any investment, not everyone is fully aware of the particulars. Our editorial team also prioritized the availability of free kits (which include information and pricing on precious metals approved by the IRS) and guides that provide insight into investing in precious metals (anything from the basics to advanced knowledge). The guides aren’t easily accessible for some services unless a company representative has held a discussion, but said guides and resources of wisdom could be immediately read through for most of our top picks.

Ease of Use & Guidance

Since gold IRAs are self-directed, our team focused on the process of setting up an IRA or rolling over an existing IRA into one for precious metals. The procedures would be to the point in an ideal world, requiring very little navigation. If complex, the customer support team must be available to assist. Based on existing feedback, this isn’t always the case. If one feels the support system is weak, the best option is to seek another company’s services!

What is a Gold IRA?

A gold (or precious metals) IRA is a self-directed individual retirement account where physical gold or other approved precious metals are held in the custody of the account owner. Functioning like any ordinary IRA, the main difference with the gold IRA is that owners now have physical coins, billions, or bars in place of paper assets (i.e., papers that define ownership of an asset). Aside from physical gold, this account may also possess stocks of gold mining companies or gold exchange-traded funds (ETFs). When it comes to tax benefits, contribution limits, and withdrawal limits, specific rules have been imposed by the IRS, which we will cover in the sections to come.

Types of Gold IRAs

There are three types of gold IRAs to choose from. To facilitate the selection process, our editorial team summarized them as seen below:

Traditional Gold IRA

The Allegiance Gold team maintained that [1] a traditional IRA is a tax-deferred retirement savings account that works like any ordinary pre-tax conventional IRA. All contributions and gains will not be taxed, but for the most part, contributions are tax-deductible. The IRS sets the annual contribution limit based on age. For people under 50 years old, the limit is $5,500 and $6,500 otherwise. With a pre-tax IRA, taxes will need to be paid during retirement.

Roth Gold IRA

While traditional gold IRA is a pre-tax retirement savings account, a Roth gold IRA is an after-tax retirement savings account. In other words, taxes are paid with every contribution made; when it is time to withdraw funds, taxes aren’t paid.

SEP Gold IRA

Finally, we have SEP gold IRAs available either for employees of small businesses or self-employed individuals. The SEP gold IRA is like a traditional pretax IRA in taxes (i.e., contributions aren’t taxed until withdrawal). The difference, in this case, is that it offers higher contribution limits. So, instead of $5,500, individuals can contribute up to 25% of their income or $53,000, whichever is the smallest.

Why Choose Precious Metals Over Other Investments?

Precious metals have advantages of their own regarding financial or geopolitical turmoil. Our top 8 contenders for gold IRA companies appear to agree on the following reasons for choosing a precious metals IRA account:

Inflation Hedge

Precious metals classify as an inflation hedge. Investopedia defines inflation hedging as “an investment considered to protect the decreased purchasing power of a currency that results from the loss of its value due to rising prices either macro-economically or due to inflation [2].” Gold owners are protected (or hedged) against falling dollar because, as inflation goes up and the dollar’s value goes down, the cost of every ounce of gold is trusted to rise. Another reason gold is used as a hedge against inflation is its limited supply.

Protection Against Market Volatility & Geopolitical Instability

Depending on the country, gold can be a protection against market volatility. A study that aimed to analyze the characteristics of gold as a diversifier, a hedge, or a haven against stock market collapse in five countries reported that, in countries like India and the U.S., “gold exhibits considerable evidence of strong hedge.” In China, it is perceived as an asset for diversification. As for its role as a haven, India, the U.S., and UK retains gold in such a stature because it has a preeminent cultural effect [3].

One source [4] reported gold as a haven against such tensions regarding the relationship between gold and geopolitical instability. Specifically, gold prices are positively correlated with rising pressures. One example is the 9/11 terrorist attacks, which increased gold prices by 6% in the London market alone. Gold remains a go-to in times of high uncertainty since it doesn’t involve as much risk as other asset groups.

Not all tensions will give rise to increases in gold. Why? “Gold traders buy the rumor but sell the news […] gold is mainly a bet against the U.S. economy […] some military actions reduce risks rather than increase them […] the importance of the geopolitical concerns for the gold market is often overstated.”

Diversification

Gold is an essential asset for people who want to diversify their portfolios. Why? Gold prices have historically risen due to events that cause paper investments to drop in value. We are referring to dropping stock and bonds prices. This doesn’t mean that gold is volatile, especially in the short run, but luckily, it maintains its value over the long run [5].

Emerging Industrial Uses

According to one source [6], gold has inherent properties allowing it to be used in medical, electronics, automotive, defense, and aerospace (because it reflects up to 98% of infrared radiation) industries. It is also used as a catalyst in many industrial processes. Combined with a limited supply of gold, the latter will naturally increase its value with time.

Tax Efficient

Long-term gains on gold are taxed at 28%, which is double the 15% tax rate. Short-term gold profits are taxed at an investor’s ordinary income rate, like how short-term gains on mutual funds and stocks are taxed. Typically having a gold IRA company’s input on this will help investors understand the best ways to invest in gold and speculate on its price [7].

Authorized IRA Precious Metals Requirements

Metals must meet set requirements to be IRA-eligible. For instance, they have to be produced by manufacturers accredited by NYMEX/COMEX, LME, BMA, NYSE/LIFFE/CBOT, ISO-9000, and for other countries, guidelines instilled by their government and their respective national mint. In terms of gold, silver, platinum, and palladium:

  • Gold minimum fineness requirement: .995+
  • Silver minimum fineness requirement: .999+
  • Platinum minimum fineness requirement: .9995+
  • Palladium minimum fineness requirement: .9995+

Frequently Asked Questions About Gold IRAs

Q: What is a gold IRA?

A: A gold IRA is a self-directed individual retirement account that invests in physical gold and other precious metals. Instead of paper assets, we have physical coins, billions, or bars, depending on the selected company and its services.

Q: What are the benefits of a gold IRA?

A: The main benefit of a gold IRA is its ability to diversify one’s retirement portfolio on a tax-deferred basis while maintaining the preferential tax treatment. In other words, a transfer or roll-over of an existing IRA account to a gold IRA will not trigger any tax implications [7]. Refer to the section on why precious metals are chosen over other assets.

Q: What are the disadvantages of a gold IRA?

A: The main disadvantage of a gold IRA is that it has no tax-advantaged income, meaning gold bullion doesn’t pay interest, dividends, or other returns. Existing precious metals cannot be shifted into a gold IRA either [8].

Q: Which retirement accounts are eligible for gold IRA rollover?

A: Any existing traditional IRA, Roth IRA, SEP IRA, simple IRA, or self-directed IRA can be rolled over into a gold IRA. It can be transferred for those with an inactive 401(k) (or no longer working with the company where the IRA was created). We encourage visiting the IRA company of choice to learn more about eligibility to see their rules and regulations.

Q: Are there tax implications when rolling over IRA or 401(k) into gold?

A: There are no tax implications as long as a direct rollover is completed. This, however, should be clarified with the gold IRA company, as expert knowledge is a must.

Q: What types of metals can be kept in an IRA?

A: The four precious metals allowed to be held in an IRA include gold, silver, platinum, and palladium, provided that they are IRS-approved coin or bar products.

Q: What is a gold IRA custodian?

A: A gold IRA custodian is an entity that secures a depository. Typically, gold IRA companies partner with a custodian so that investors do not have to seek such entities independently.

Q: What is the process of liquidating a gold IRA account?

A: To liquidate a gold IRA, the company that set up the account must be contacted, and a buyback quote must be requested. When agreed upon, an Investment Direction form must be filled out. Once again, individuals should review the buyback policy before getting started [9].

Q: Is being a member of the American Numismatic Association (ANA) a facet for an IRA company?

A: The American Numismatic Association (ANA) is a non-profit organization dedicated to educating and encouraging people to study and collect coins. The ANA helps people discover and explore the endless possibilities of money through educational programs, libraries, publications, and more. From an academic standpoint, being a member could benefit an IRA company. However, it doesn’t suggest too much about a company’s reputation and integrity.

Q: Do I have to pay taxes when I sell my gold and silver products to the IRA company?

A: Yes, there will be tax implications upon selling gold, silver, and other precious metal products back to the respective IRA company.

Q: What is the difference between physical gold and gold ETFs?

A: Unlike physical gold, purchasing gold ETFs is like buying shares on a stock exchange. ETFs allow investors to access gold while avoiding the costs and inconvenience of markups, storage costs, and security risks of holding physical gold (e.g., robbery, natural disaster, etc.) [10].

Q: Can’t I just store gold at home?

A: The IRS rules forbid keeping gold and other precious metals at home, part of the IRA. This has to do with taxing distributions. However, it seems to be the case that should individuals purchase gold or other precious metals outside an IRA, they can be kept at home, but the risks are higher this way.

Q: Which gold IRA company should I go with?

A: Refer to our top 8 contenders for getting started with gold IRA. Individuals should go with the company that makes them most comfortable and acts in the best interest of their financial goals.

The Top 8 Gold IRA Companies in 2022 Final Verdict

Ultimately, resorting to a gold IRA is deemed a great way to diversify one’s portfolio. In times of financial or geopolitical turmoil, gold prices have trended upwards, and had a retirement account devoted to the precious metal can be beneficial. The key takeaway is that gold investments manage to maintain value over the long run; hence, enormous short-term gains should not be expected. Having guidance from experts in this area is a significant plus point for creating an IRA account.

Before getting started, individuals should ensure whether the company of choice reflects a high reputation and integrity, versatility in product offerings, transparency, and education on the entirety of precious metals and their tax implications. Our ranking system covers only the basics. Therefore, investors wanting to adjust factors can do so of their volition! Above anything else, the risk is inevitable. However, gold remains a hedge against inflation and market volatility and will only drop to the cost of mining (meaning it won’t go to $0 as stocks do). By everything, individuals should take a step back to assess their financial and retirement goals before taking major leaps with a top gold IRA company.

ALSO READ:BitIRA Reviews – Trusted Bitcoin IRA Company for Crypto Investors?

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Disclaimer:

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