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Last Updated: September 18, 2023
How is your current financial situation? If you are like most people, concerns are rising. Inflation continues to increase, along with financial woes. The stock market seems unstable most days, and people are worried about their investments. If you were a traditional stock investor, what would happen to your nest egg if everything came crashing down?
Investment diversification is now more critical than ever. One of the easiest ways to diversify your investments is by investing in gold and silver. Gold IRAs, for instance, are becoming popular because they offer a hedge against inflation that other investments cannot.
To invest in precious metals wisely, you will need to work with the best gold IRA company. It can take weeks or months to conduct the high-level research necessary for finding the right company.
We have done all the work and compiled a list of the best gold IRA companies. We invite you to keep reading to learn about these companies and how they can help you invest in a gold IRA that will further improve your retirement savings.
You would never buy a used car without researching its history. You wouldn’t visit a doctor without learning about the level of care they provide and their patient reviews. So, why would you ever choose a gold IRA company without research?
Research is at the core of our existence. We are constantly researching and learning new ideas to help people get started on investing in precious metals.
Many gold IRA companies are out there, and many promise the moon but cannot deliver. We have taken the guesswork out of finding the right company. The following are tops on our list:
Goldco is our first choice for a few different reasons. First of all, this company is second to none when it comes to customer service. As you begin researching gold IRA companies, you will find many do not deliver on customer service.
Goldco helps its customers every step of the way. They also work to educate people on investing in precious metals. Goldco’s goal is not just to make money off of a person but to help them be successful.
The company was founded in 2006 by Trevor Gerszt. Today, Goldco has a rating of A+ on the Better Business Bureau and a AAA rating on the Business Consumer Alliance.
Goldco’s headquarters are in Woodland Hills, California. At the time of this writing, Goldco has over 1,000 5-star reviews, showcasing how dedicated they are to customer satisfaction.
We placed American Hartford Gold as our number two in our top five because of their strong dedication to helping individuals and families invest in their futures. The company sells gold, silver, and platinum in both bar form and coins.
When you purchase precious metals from American Hartford Gold, they can deliver directly to your doorstep or to your depository of choice for a gold IRA. The company is so sure of its procedures and dedication to customer satisfaction that they guarantee them 100%.
American Hartford Gold has been in operation since 2015, with Sanford Mann at the lead. Mann also serves as the CEO and has successfully propelled the company into one of the top spots in the nation for wealth protection firms.
Whenever you decide to work with a precious metals dealer, you must ensure they have a good consumer rating. This means conducting some research. You can’t begin investing in precious metals without doing your homework.
Augusta Precious Metals is in our number three position because of its high level of transparency. Some gold IRA companies operate within a cloak. They are not forthright with their fees or operations, leading many potential customers to walk away.
From the moment you visit Augusta’s website, it is clear that they are different. They offer transparency regarding their fee structure, precious metal offering, and services.
Augusta Precious Metals was started in 2012 by Isaac Nuriani. Headquartered in Casper, Wyoming, this company offers a client-focused approach to gold IRA service. The company is family-owned and treats its customers like family members. They want you to succeed.
Currently, Augusta Precious Metals has an A+ rating from the Better Business Bureau and an AAA rating from Consumer Alliance. Augusta also has the top rating at Trustlink.
If you read reviews on Augusta Precious Metals, it is clear that they have set the bar high for other companies. Augusta regularly gets 5-star ratings from customers and has a 4.9 out of the 5-star average.
We selected Birch Gold for our number four position because they are not pushy with potential customers. Many people do not like pushy sales tactics because it puts them under too much pressure.
If you want guidance without pressure, then Birch Gold is right for you. The company has been around since 2003 and was started by some of the top talents in the industry including professionals from Citigroup and IBM.
Birch Gold is headquartered in Burbank, California, and has offices in San Francisco and Silicon Valley. From the beginning, Birch Gold has worked to become the most trusted gold company in the United States.
At this time, Birch Gold has an A+ rating on the Better Business Bureau and an AAA rating on Business Consumer Alliance. If you look them up on Trustlink, they have been given the highest rating of 5 stars.
Birch Gold Group shines when it comes to new precious metals investors. They help customers roll over their retirement accounts to IRA and partner with top depository names like Equity Trust and STRATA.
This low minimum is unheard of in the gold industry, making investing in precious metals accessible to all. This company is considered the new kid on the block compared to other gold companies, opening their doors in 2016. Collin Plume is the president and CEO of the company and has over 15 years of experience working in precious metal investment.
He has worked diligently to become one of the top financial brokers in the world. When you research Noble Gold, you will quickly discover their top priority is ensuring trust. The Better Business Bureau and Consumer Affair Alliance accredit Noble Gold.
Many people like Noble Gold because they do not pursue a pushy approach to helping people with their gold IRAs. This small family-owned business provides a family-like atmosphere that makes new investors more comfortable starting the process.
You have a lot of investment opportunities, so why should you invest in a gold IRA? We have all experienced increasing inflation, especially as of late. We also have seen, throughout history, how dips or even crashes in the stock market can impact our finances.
Today, many investors are concerned about hedging their investments against inflation. Precious metals are one of the best ways to do just that. Many people wisely decided to pursue precious metals after the recession that hit the United States back in 2007. Unfortunately, we could be headed for another before long.
What causes recessions is that the dollar gets overly inflated and rapidly declines in value. If you have investments tied up in the stock market, drops in dollar value are frightening. If you want to know the most important reason for investing in a gold IRA, it is to diversify your investment portfolio and protect your financial future.
2020 showed us how far gold could rise in value. Suddenly, people were rushing to roll over their retirement accounts to gold IRAs-a smart move!
If you are considering investing in a gold IRA, you have options. First, you need to learn what an IRA is and what it offers. An IRA, called an individual retirement account, is a retirement investment account that gives investors many tax advantages.
Gold IRAs are also referred to as self-directed IRAs. Self-directed IRAs allow you to choose alternatives for your investment, including precious metals.
If you are new to investing in precious metals, you must learn about your options. Learning about the various types of gold IRAs will help you make wise investment decisions. No matter your choice, you will find great value in your decision.
This is the most common IRA option you will encounter when researching. This type of IRA allows investors to add funds to their accounts and claim deductions on their income tax forms.
Each year you contribute to your traditional gold IRA, you will experience savings on your income taxes. Once you withdraw, you will pay taxes on the withdrawal.
Investors can also invest in a ROTH gold IRA. You can consider this the true opposite of a traditional gold IRA. Instead of waiting until you withdraw to pay taxes, you pay with every contribution.
Because you have been paying taxes on each contribution, you will not owe them when you withdraw. Some IRAs restrict when you can withdraw, but a ROTH IRA does not.
SEP gold IRAs are for self-employed people. This type of IRA is very much the same as a traditional gold IRA. With this type of gold IRA, business owners can contribute to their accounts and those of their employees.
We have told you about the top gold IRA companies. We have given you information on why investing in precious metals is advantageous. Now we need to tell you the steps involved in investing in a gold IRA.
Before you take the steps below, consider the following.
The following are the IRS requirements.
The process of investing in a gold IRA can vary according to the company you select. Most companies sell IRS-approved precious metals.
Next, you must monitor how well your precious metal investments are performing continuously. Many gold companies have a dashboard or app that makes it easy for customers to monitor their performance.
Before you select any gold IRA company, make sure you understand its processes. Learn how you can check the performance of your precious metals before jumping on board.
You have decided to invest in a gold IRA, and now you will have to decide on a gold company – the most important and challenging part of the process. Choosing the right gold company will make the investment process so much easier, and you will have greater peace of mind. We have included the following to help new investors choose the right company to meet their needs.
Investing in precious metals is a significant undertaking that you should not take lightly. Putting your financial future in inexperienced hands can be risky. Learning how long a gold company has been in business is critical.
We recommend choosing a gold IRA company that has been in business for no less than five years. Checking the reputation of a company is an essential step. Still, companies that have just opened their doors will have little time to develop a reputation in the precious metals industry.
What kind of precious metals selection does the company offer? Make sure the offerings are IRS-approved. Before you choose any gold company, check out their website. Ask for their free investor kit. Most companies offer them. This kit can contain valuable information that will help you learn about the selection and more.
Most gold companies charge at least three types of fees. You need to know what fees you will be charged before joining. Consider the following fees that are all common in the industry:
Many gold IRA companies offer depository partnerships. Because the IRS requires investors to store their precious metals in approved depositories, you need to know what the gold company provides in storage. By learning about their storage options first, there will be no unexpected surprises when storing your investments.
You will quickly discover just how important customer service is when you first start investing in a gold IRA. You are going to need someone who is willing to hold your hand and guide you.
Aside from reading our review and others, we recommend new investors contact each gold company they are interested in joining. Have a list of questions to ask. Talk with a representative and see how they respond. If the company seems willing to take time with you and answer your questions, they will likely offer a high level of customer service.
You also need to select a gold company that is an expert in retirement accounts. If you get bad advice from a company, you could end up owing the IRS big time.
Select a company that is an expert in helping customers with retirement accounts. Research the company and ensure you know the level of expertise they bring to the table.
You also need to know about the process and what to expect. What does it take to carry out the setup process? You will find that most of the gold IRA companies on our top five list have worked to ensure the setup process is as simple as possible.
You do not want to select a company that requires an overly difficult process. Research the simplicity of the setup process, and then you can avoid unnecessary headaches.
Customer reviews are critical when analyzing a gold company, or any company, for that matter. Consumers are usually quick to tell others when they are unhappy with services. If the reviews are mostly negative, you should be leery.
Check the company’s rating on the Better Business Bureau, Trustlink, and the Business Consumer Alliance. It never hurts to look at social media sites as well.
Although you cannot expect that a gold company is going to please every single customer, the reviews should mostly be positive. Check for the same complaints being talked about in multiple reviews.
Remember that you are investing in your retirement. Your financial future is incredibly important and should not be left to a company that cannot deliver on its promises.
Gold has been a solid investment choice for centuries but has recently seen a gigantic increase in interest. People are finally waking up and realizing the dollar may not always be worth the paper on which it is printed.
With the stock market teetering, many investors realize the sheer importance of diversifying their investments. No one wants to lose their entire investment because of a crash or economic downturn.
In 2018, 10.8% of United States households had gold investments. This number is rising daily. People want to avoid risking their entire savings over one catastrophic financial event.
When fears of another Great Depression begin to arise, investors get frightened and restless. One of the promising things about investing in gold is that you can turn it in for cash, no matter what country you visit.
Gold is so highly valuable because it is used in so many industries. Gold is found in electronic microchips, jewelry, industrial applications, and more.
Because these are desperate times, people sometimes rush the process and fall for scams. Remember that if an investment opportunity seems too good to be true, it likely is!
You already know you will need an IRS-approved depository to store your precious metals. When you purchase precious metals, they will be shipped to your chosen depository and stored there until you withdraw them.
Depositories should be physically secure, so you do not have to worry about theft. The depository must be insured to protect your investment.
We recommend you consider the following factors when deciding on a depository. The most important factor is to ensure the IRS approves the depository. Many gold companies have depository partnerships, making it easier for new investors.
What are the Storage Options?
Each gold depository typically offers a couple of storage options. We break down the two types below.
Segregated storage means that what you put in is what you take out. Your precious metals are kept in segregated storage, so you get your exact coins and bars back when you withdraw. This is the most expensive storage option.
Unallocated options for storage mean your precious metals are stored with every other customer’s gold. If you put in a Gold American Eagle coin, you will not get the exact one back when you withdraw. This is the most affordable storage option.
What About Legal Separation?
Before storing your precious metals in any depository, inquire about the legal separation policy. The gold depository must take legal custody of your precious metals. If they do not take legal custody, they are not held liable if anything happens to your investment.
Does the Company Have Insurance?
You need a depository that has hefty insurance coverage. Most depositories carry multi-billion-dollar insurance policies. Always check the level of insurance coverage before you store your gold.
What Fees Does the Depository Charge?
No depository is going to store precious metals for free. You are going to need to ask the company about its fees. Be leery of hidden charges because some depositories have them.
As we mentioned above, you are going to have to pay more if you want segregated storage. The fee you pay a depository is usually upfront and paid annually.
Gold IRA accounts are individual retirement accounts. This type of IRA allows you to invest in gold and other precious metals as long as they are IRS-approved.
If you have a traditional gold IRA, this is a self-directed type. All contributions are tax-deductible, and you do not have to pay any taxes until you withdraw upon retirement.
You have plenty of options for investing, so why would you select a gold IRA? We want to help you understand the benefits of making a solid choice.
Despite economic troubles, such as recessions, the value of gold remains stable or continues to rise. Even when the dollar dips, gold holds its own. Experts agree the upward trajectory of gold value will continue to rise into the near future. Like all commodities, the value of gold sometimes drops, but it always recovers. Gold is one of the best investments for people who want to diversify their portfolios and hedge against inflation worries.
It is always a good time to invest in gold, but some times are more advantageous to the investor. Gold experts advise people to invest in gold during times of economic downturn. The value of gold rises exponentially during these times.
Investing in gold is truly simple if you have an existing retirement account. All you need to do is roll over your existing retirement account into a gold IRA. By rolling over your account, you will not have to worry about IRS penalties, and the gold company you select will help you with storage. Remember that the IRS does not allow investors to store their gold, though you can store it for your personal needs.
Many people invest in gold to diversify their investment portfolios. Most gold experts agree you should keep your gold percentage between 5% to 10%, depending on your risk tolerance. Gold is one of the most stable investment options.
You may purchase physical gold for a gold IRA, but the IRS requires it to be stored with an approved third party. You must also ensure you meet the requirements for purchasing the right type of physical gold.
If you have an existing self-directed IRA, it is fairly simple to roll over to a gold IRA. To get the process rolling, all you need to do is to contact your current administrator.
The IRS has a few requirements for investing in precious metals. You can invest in the following.
You can take possession at any time, but you will incur penalties. If you wait until the end of the IRA term and are at least 59 ½, you can withdraw your precious metals and sell them for cash.
To get started, you will need to perform these steps:
If you have a traditional IRA, you will not be required to pay any taxes on your contributions. You only have to pay taxes when you make a withdrawal. A ROTH IRA requires you to pay taxes with each contribution, but you will not have to pay at withdrawal time.
You will be required to pay fees to the gold company and the depository you choose. The gold IRA company will charge setup fees and administrative fees, and the depository will charge an annual storage fee; these fees will vary greatly according to the company. You should research carefully to ensure you are selecting the right company.
You have multiple options for funding a gold IRA, including cash, transfer, and rollover.
Because of IRS rules, you cannot store your physical gold at home. It must be stored in an IRS-approved depository. Many gold companies partner with depositories, making it easy to store your gold and keep it protected.
Because of IRS rules, you cannot take a distribution from your gold IRA until you are 59 ½. If you withdraw sooner, you are going to be charged a 10% penalty by the IRS.
You have a lot of choices when it comes to gold companies. Our top choice is Goldco because we truly believe they have the best level of customer service.
You may invest in gold, silver, platinum, and palladium.
The time it takes to transfer varies, but the most common length of time is around 60 days. You need the transfer to proceed as quickly as possible, so you do not incur any penalties from the IRS.
In this exhaustive guide, we have taken you through all the information necessary to get you started investing in precious metals through a gold IRA.
This is a lot of information to chew on, so we suggest you read through it again and take extensive notes to help you get started. Investing in gold IRAs is one of the best ways to hedge against inflation. Unlike the dollar, gold values rarely drop.
We understand that it can be unnerving to get started on investing. After all, we are talking about your financial future. Because we understand the risks, we have worked so diligently to provide you with extensive information.
If you have an existing retirement account, rolling over will be simple. Working with one of the top five gold companies listed above will ensure you get a smooth start and the guidance you need throughout the process.
By investing in precious metals, you will not have to worry about losing everything in a stock market crash or an economic crisis. This guide should have answered most of your questions and helped you understand the importance of diversifying your investment portfolio with precious metals. After you select the right gold company, the rest of the steps are much easier because you will have professional guidance.