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Last Updated: July 17, 2024
Have you been considering investing in precious metals like many millions of Americans? A gold IRA allows you to invest in physical gold with tax advantages.
Companies like Monetary Gold can help you reach your investment goals, but are they among the best gold IRA companies?
This Monetary Gold review will offer concrete facts about the company. We want to inform our readers and help you understand what type of company Monetary Gold is and whether or not you should buy gold bullion and silver coins from them.
We have researched this company thoroughly to learn as much as possible before posting this Monetary Gold review.
From the Monetary Gold website to purchasing precious metals, we will flood you with information to help you make a wise decision.
Monetary Gold is a precious metals dealer specializing in gold IRA-approved metals like gold, silver, platinum, and palladium.
Like other gold IRA companies, they partner with custodians and depositories to help their customers invest in physical precious metals.
This gold and silver company opened its doors in 2000 and has been serving its customers' needs for purchasing physical gold since then.
They are a precious metals firm with relationships with gold sellers so that they can pass the savings on to their customers.
We could not find any information on the company's history or its founder. Andrea Powers is the acting company executive and contact person for Monetary Gold.
It would be helpful if the website offered gold IRA customers more information on who is in charge. We tried to find this information from the Better Business Bureau.
Bar Code Score Card ™
Bar Code Score Card ™
Bar Code Score Card ™
This is one of the most vital parts of our work. As we research companies, we strive to read as many customer reviews and complaints as possible.
People quickly tell others when they have been treated poorly while purchasing gold.
When you see many negative reviews and complaints about a company, you should always look elsewhere to open a gold IRA. You could lose money by dealing with the wrong precious metals dealer.
We visited the Better Business Bureau first to check the company's portfolio. Monetary Gold has been accredited since 2014 and has an A+ rating.
The company has a full five-star rating with an average of 33 customer ratings.
There have been two closed complaints in the last three years and one in the previous 12 months.
Unfortunately, we could not view the customer complaints on Monetary Gold's BBB profile. The BBB states that some reviewers choose not to publicize their reviews, but we also need to know how long the site keeps past complaints published.
We were able to read the 33 customer reviews. The reviews were all good for the company, and we could not find any major complaints.
Every customer review offered five stars for the company. Each review was glowing and stated Monetary Gold provides excellent customer service.
Monetary Gold's employees go the extra mile to help each customer with their retirement account.
Our next stop was the Business Consumer Alliance. Here, the company has an A rating. Monetary Gold has no customer reviews. There are also no customer complaints.
Monetary Gold has a five-star rating on TrustLink. There were 12 current reviews, which were highly favorable for the company.
Some customers felt the staff knew about investing in gold, silver, platinum, and palladium. We could not find any complaints.
It was challenging to find many honest reviews for the company. The company has been operating for over 23 years, and there would be more reviews.
As you begin researching Monetary Gold's operations and others in the industry, you will quickly discover no company can please everyone.
Before you buy precious metals from Monetary Gold, you need to learn the pros and cons.
Monetary Gold is not a scam. They are a legit company that has been in operation for over 23 years. Although we cannot label them a scam, they are not the best company for precious metals IRAs.
In addition to reading our Monetary Gold review, you should research yourself. Should you open an IRA with Monetary Gold? Keep reading to learn more and find out if we recommend Monetary Gold to our readers.
Monetary Gold offers a precious metals IRA by partnering with custodial services and depositories. They will guide you through your precious metal investment to help you diversify your investment portfolio.
They will ship directly to your chosen depository when you buy precious metals. You should select your depository wisely.
The IRS has specific rules regarding investing in an IRA with Monetary Gold. You cannot store IRA-held precious metals at home or in a safety deposit box. Your gold or silver must be stored in an IRS-approved depository.
You should learn the following information before investing in a precious metal IRA:
You can invest in a wide array of precious metals for your IRA, including gold, silver, platinum, and palladium, as long as they meet the purity demands above.
You can also purchase precious metals directly and ship them to your home. You must ship directly to the depository when adding precious metals to your gold or silver IRA.
Monetary Gold staff members will never recommend a specific custodian, though you have many options for your IRA account.
They partner with the Delaware Depository to ensure your retirement accounts meet the IRS rules. Some of the custodian options include the following:
The Delaware Depository is one of the most trusted in the precious metals industry, so you can rely on it to keep your retirement account precious metals safe.
Your precious metal investment will remain in the depository until you withdraw for retirement.
Make sure you work with a precious metal expert to ensure you are investing wisely and according to the IRS rules. Failure to follow the results for your retirement savings could result in tax penalties.
There are fees associated with opening an IRA account with Monetary Gold. Your fees for account management will depend on the size of your account and the custodian you choose.
You will also pay depository fees annually for storing your bullion coins for your existing qualified IRA.
Monetary Gold requires a minimum investment ranging from $5,000 to $10,000. You will need to transfer funds to your new gold IRA account before you can purchase the Gold British Sovereign or Morgan Silver Dollars for your precious metals IRA account.
Monetary Gold differs from the rest because its staff members bring actual knowledge, helping customers invest in a gold IRA without much stress.
Some companies do not hire knowledgeable representatives or train them thoroughly, so they cannot offer valuable gold IRA advice.
Another unique aspect of Monetary Gold is that they work directly with gold providers and pass the savings on to their customers. A Monetary Gold IRA can help you save money on your gold or silver investment.
Whether you want to purchase domestic or foreign coins, you can rest assured Monetary Gold covers your investment needs. Monetary Gold holds a wide selection of precious metal investments for customer retirement accounts.
It is easy to get started with Monetary Gold. The easy process sets Monetary Gold apart from the rest.
Consider the following steps to diversify your investments away from the stock market:
Once you complete your order for gold IRAs, Monetary Gold will ship your purchases directly to your depository. Remember that your precious metals must stay in the depository until you reach retirement age to avoid early withdrawal tax penalties. You could also face a commercial net worth tax with this investment, so invest wisely.
Many people are investing in precious metals for a variety of reasons. People fear stock market fluctuations and inflation because they are killing their investment strategies.
There are many ways to invest in a precious metals IRA, including physical gold and gold ETF. There are also many advantages to investing in a precious metal IRA.
If you have never considered the options for gold investments, you should consider an IRA. Your current retirement account may be eligible to roll over to a gold IRA. You will only need guidance from a custodial service to help you make the right decisions for your investment needs.
You have questions, and we have answers. We get many questions from our readers daily and strive to answer them factually. This FAQ section will help you learn more about Monetary Gold and its operations.
Monetary Gold is a reputable company that has been around for over 23 years. Just because a company is not considered a scam does not make it the best one for your gold investment needs.
We urge you to research carefully to make the right choice, whether you work with Monetary Gold or companies like American Hartford Gold.
There are no pending lawsuits for Monetary Gold, but the FDIC has brought about a legal issue. According to public records, the FDIC demanded that Monetary Gold stop releasing misleading information to its customers and the public.
The company allegedly told its customers that banks could legally seize their bank accounts as a marketing ploy to play on investors' fears. The FDIC sent out this letter in March of 2020.
Keep around 5% to 10% of your money in gold. Experts recommend this percentage. However, it is always important to consider your financial situation, investing goals, and comfort level when buying precious metals directly.
The most trusted gold company is American Hartford Gold, followed by Goldco, Augusta Precious Metals, Birch Gold Group, and Noble. These companies offer high customer service and a low annual fee.
Money Metals is not a good company to buy silver from because they need more attention to customer service. We have uncovered some underhanded business tactics in this Monetary Gold review that concern us.
Monetary Gold is alright; it offers a wide range of precious metals and gold IRA services. Although they are not a scam company, we cannot recommend them to our readers because of our high standards and the company's lack of customer service and underhanded business dealings.
Better options include fine gold companies like American Hartford Gold and Goldco. We urge you to learn as much as possible about any company by researching before you invest in gold. Unfortunately, scam artists are plentiful in the industry, so always practice caution.
Investing in gold allows you to diversify your investments to steer some of them away from the volatility of paper stocks. With a gold and silver IRA, you can diversify your investments and take advantage of tax benefits.
Bar Code Score Card ™
Bar Code Score Card ™
Bar Code Score Card ™
Bar Code Score Card ™
Bar Code Score Card ™
