Throughout the past few years, gold has seen a steady increase in value as opposed to the rather volatile stock market. With that in mind, several investors have turned their attention to gold IRAs as a way to diversify their accounts as well as hedge their portfolios against inflation and market volatility. The vast majority of IRA investors typically seek out traditional assets such as bonds, stocks, and other funds, the tax code allows for investment in precious metals such as gold and silver through a specialized IRA account.
Unlike traditional IRA accounts which can be maintained and set up by a custodian, a gold IRA requires a few additional steps. In some cases, an investor is going to need to locate a custodian as well as an approved depository. The gold will need to be purchased and transferred into the depository in a manner in which a custodian can watch it. To accomplish this, investors will need to work with an established and reliable gold IRA company to facilitate this process.
Through our research, we have found 18 companies that specialize in gold IRA services. We scanned each company looking for the highest consumer rating from both the Business Consumer Alliance and Better Business Bureau https://www.bbb.org/. This one filter resulted in a list of nine. We also filtered for additional information such as educational resources, fees, and pricing, customer support, as well as the ease of setting up the initial account and acquiring precious metals. From the rest of our filters, we were able to narrow down this list to six categories.
Goldco
Goldco as well as their customer representatives go the extra mile to ensure all of their customers, new and old alike have the best information available to make informed decisions. This is the reason why we have chosen Goldco as the number one gold IRA company in customer support.
There is no other gold IRA company that takes the time to convey such accurate information per induvial on gold investment to gain the trust and confidence of consumers. Goldco Precious Metals was founded in 2006 and stands out in multiple ways, however, it is through the ultimate customer support that they have built a solid reputation.
Goldco believes in handling their customers with the white glove treatment and this includes setting up your initial account and will continue through to your final transaction with the company. Goldco wants its customers to take full advantage of the education center they have created for their customers. In addition, to have a wide range of videos and e-book, they have an extensive blog that takes a deep dive into a wide variety of topics.
It is through this customer-centric drive that Goldco has been able to achieve the highest ratings through Consumer Affairs and Trustpilot.
To find out about specific fees, custodians, storage, and account minimums, it is best to talk directly with a Goldco representative. If you head over to the Goldco site, they will also email you a free guide if you enter in your name, number, and email.
Their account setup is mostly completed online and is quick and easy. Goldco also features 401k and IRA rollovers into an existing retirement account.
Pros
Competitive Pricing
Educational Resources
10% In Free Silver Coins For All New Accounts
Cons
A Minimum Investment Is Required
Augusta Precious Metals
Augusta Precious Metals is a company that not only offers low costs but ensures that their customers know exactly what they are paying for, With this in mind, Augusta makes our list as one of the best gold IRA companies that offer transparent pricing.
Of course, while reviewing gold IRA companies, we are going to take consideration into pricing. Many gold IRA companies list low prices, but they are not all that transparent in their costs. Augusta Precious Metals offers straightforward pricing that is transparent as well, which is why it tops the list for the best of the best in terms of transparent pricing.
Augusta is a family-owned company that has built a reputation for its transparency since it opened in 2012. They have consistently earned high marks from the BCA and BBB. Augusta also ensures that their customers have confidence in the brand by offering a 100% money-back guarantee for all new customers as well as providing fair pricing and a 7-day price protection plan.
Because the account is self-directed, there is never a management fee. To find out additional details about creating an account and the fees associated with it, please feel free to contact the company directly. Augusta also features a superb buy-back program.
Augusta works with Delaware Depository which is highly respected in the industry for the storage needs of the customers, offering numerous vault locations throughout the country.
Augusta features top-notch customer support as we can see from their numerous high ratings. Augusta features full turnkey operations with onboarding and transaction processes, along with specialists that help with various paperwork. However, customers can’t make any purchases online.
Two of the major drawbacks of working with Augusta include their limited choice of metals as well as the high minimum investment that is needed to open a gold IRA. Customers who are seeking to invest in palladium and platinum have to choose another company as Augusta only focuses on gold and silver coins and bullion. They are attractive for IRA rollovers due to the transparent pricing that is offered.
Pros
Money-Back Guarantee
Transparent Cost and Fee Structures
Guaranteed Fair Pricing On All Purchases
Cons
There Is No Minimum Investment
Palladium or Platinum Are Not Offered
Online Purchases Not Available
Noble Gold
Featuring extensive resources and minimum investments, Noble Gold is the best choice for small investors.
Noble Gold was established in 2016 and is one of the newer companies in the gold IRA area. However, it has set itself apart from the competition by offering minimum investments and a large education resource library, it has become known as the best gold IRA company for new investors.
During its short time as a new company, it has gained a good deal of traction as it has puled in some high ratings with the Better Business Bureau, Consumer Affairs, as well as a AA within the BCA.
In addition to several resources, Noble Gold offers its potential customers an initial consultation to help the consumer with their needs, goals, and objectives. After completion of this initial consultation, an assigned specialist will help guide the consumer through the process without any type of high-pressure sales tactics.
Noble Gold does not have the lowest rates on the market, but they are some of the most competitive. New customers will not be charged a setup fee, however, there is an $80 annual service fee. Additionally, customers are going to be assessed a $100 storage fee on an annual basis. While no one enjoys fees, it is good to know that these are flat fees on all accounts regardless of the size and cover the cost of segregated storage. Due to the extensive network of suppliers and partners aligned with Noble Gold, customers receive highly competitive pricing on the purchase of gold. Noble also features a buy-back service that features a no-questions-asked guarantee.
The custodian for Noble Gold is Equity International. You can find information about your account anytime online. For storage needs, Noble uses International Depository Services. They have two locations within the United States and one in Canada. An insurance policy from Lloyd’s of London is also included with the storage from this high-tech IDS facility.
Customers should take the time and read through all of the information that is included on the Noble Gold website doing their fair share of research before contacting a representative. The vast majority of the opening and creating an account can be completed online, however, the final part of the process will need the assistance of a representative.
Pros
Large Educational Resources
Low Minimum Investment
Flat Fees For Service and Storage
Cons
Annual Fees Are Rather High For Lower Account Balances
Regal Assets
IRA rollovers can be slightly difficult and require expertise to avoid costly mistakes. Considering 95% of all the business with Regal Assets is IRA rollovers, you know you are putting your investments in the right hands. This is why we consider them to be the best gold IRA company for IRA rollovers.
Regal Assets features competitive pricing and high consumer ratings, easy to see why they have become one of the top leaders in gold IRA companies since opening in 2010. When a company has 95% of its business coming in the form of IRA rollovers, it deserves to be recognized as one of the best in IRA rollovers. Regal Assets shows they deserve that special recognition by offering superior IRA rollover services and expertise. Additionally, they also charge no fees for this premium service.
Regal Assets does not have ratings from Consumer Affairs or the BBB, but they do carry 3.8 stars from TrustPilot as well as a AAA rating from the Business Consumer Alliance and many positive reviews from other websites.
Regal has a fee structure that is straightforward and transparent. They charge a flat storage and service fee of $250 per year. This fee includes the cost of segregated storage, which is quite a bit lower than most firms.
They do not charge any additional transaction fees. However, a minimum investment fee may apply. You should contact the company to find out if you should invest with them.
Regal has also excelled at superior customer support. They began by offering their customers a wide range of educational materials as well as a qualified IRA specialist to help consumers make the right choices for their specific needs throughout the process.
Pros
Zero Fees For IRA Transfers Or Rollovers
Extensive Record In IRA Rollovers
Flat Annual Based Fees For Services And Storage
Cons
Unable To Make Online Purchases
Patriot Gold Group
Patriot Gold Group offers an excellent track record of featuring award-winning customer service with high consumer ratings and competitive pricing that helps to make this the best overall gold IRA company.
Patriot Gold Group was founded in 1986 and has built a substantial record of helping investors find a secure path in gold IRAs and bringing in some high marks from consumer groups. This is a family-owned business that strives to deliver high-quality customer service while keeping its prices low and competitive, making it the best overall choice as a gold IRA company.
Patriot Gold Group has built a very solid reputation as they have earned top ratings from the big consumer rating agencies including the Better Business Bureau, Consumer Affairs, and the Business Consumer Alliance.
Patriot Gold is known as a dealer-direct company that means the customers will generally not be forced to pay the fee that is charged for gold, silver, platinum, and palladium that is usually associated with investor-direct pricing. There is not much information available about account minimums and fees on the Patriot website. It is best to contact them directly to find out what they have to offer as well as any other information.
Patriot Gold has prided itself on being able to deliver outstanding customer service. Their account managers work closely with customers to create accounts which can also be done online as well as helping through various transactions. The representative will take the time to understand the financial needs of the customer to offer the best recommendations.
Pros
New Accounts Can Qualify For $2,500 In Free Coins
Investor-Direct Pricing
Cons
A Complete Form Must Be Filled Out For Any Information
Advantage Gold
Advantage Gold offers its customers a wide range of resources, low fees, and a minimum investment makes this one of the best gold IRA companies for first-time buyers.
Advantage Gold opened its doors to investors in 2014 and has gone above and beyond for its customers. Offering superior customer support, comprehensive educational resources, and minimum investments, Advantage Gold has made its mark as the best gold IRA company for first-time investors.
Arriving on the scene in 2014, Advantage Gold has worked hard to be one of the best with incredible customer service. The young company has exceeded anyone’s expectations by gaining top marks from the vast majority of consumer reporting agencies. While the company is still young, it features a team that has an extensive amount of experience that will work hard for you.
Of course, Advantage Gold has its doors open for all investors, however, they work very well for first-time investors. They have a wide range of resources that are designed to help new investors navigate through the waters and make the best choices. In addition, investors are never going to be forced to undergo high-pressure tactics.
The fees and account minimums that are offered by Advantage Gold are some of the most welcoming in the industry. They also offer a welcoming buy-back program, as they offer to repurchase at the going market rate, which is considerably higher than the competition.
The preferred custodian for Advantage Gold is Self-Directed IRA Services, Inc. For any form of storage needs, the company works with Delaware Depository and Brink’s Global Services, both of which are highly respected in the industry.
Pros
Low Annual Fees
Large Library Of Educational Resources
Cons
Has Not Been In Business Long
Understanding A Gold IRA
A gold IRA is a self-directed and specialized retirement account that is solely responsible for precious metals. As with a traditional IRA, a gold IRA does allow for pre-tax contributions and all of the investment earnings can be tax-deferred upon accumulation. In both cases, the income limits and contributions are equal. However, unlike a traditional IRA which is typically a paper asset such as stocks and bonds the gold IRA is designed for physical gold and other precious metals. While a gold ORA is a physical asset, you do not have to hold the gold or metals yourself. These can be stored in a secure depository.
The IRS has several established guidelines in place when it comes to metal fineness standards that will help to determine if gold and silver bullion or coins is acceptable for the use of a gold IRA. Keep in mind that the IRS will accept only specific gold coins such as the Canadian Maple Leaf or American Gold Eagle. Reliable gold IRA companies are going to know what is the best and what is acceptable for a true gold IRA.
What Does a Gold IRA Cost?
In most cases, there are three sets of fees that will be charged with a gold IRA. The first is the account setup fee which can range between $50 to $150, depending upon the company. Several companies will waive this initial fee if you place a larger deposit. In some situations, there will also be a custodial fee which can range in price from $50 to $150 as well, depending on the size of the account. Finally, there are storage fees, which generally run upwards of $300 on an annual basis depending upon the number of metals that are stored.
Many of the gold IRA companies will not charge any commissions for the sale or purchase of gold. However, there will typically be a markup in price, which generally is their fee for the transaction. In this situation, many companies are transparent about these fees, while some are not. The companies that buy directly can eliminate the middleman which allows them to reduce this markup.