Best Gold IRA Companies
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Precious metals have been a prized investment for thousands of years across many areas of the world. Since long before modern technology, gold and silver have been indicators of wealth. Today, these investments offer similar levels of stability when compared to the risk and volatility of other markets.
It's possible to secure some of your retirement in precious metals, which provides a hedge against inflation and stock market fluctuations. Precious metals investments are one piece of a diversified portfolio. In order to do this, you must open a self-directed IRA and comply with IRS regulations regarding the precious metals.
The paperwork and red tape can seem overwhelming, especially without a financial background. So gold IRA companies help to walk you through it. They connect you to a custodian, explain the benefits and risks of investment, and help you choose which products are right for your needs.
But not all gold IRA companies are created equal. We've put together a list of the best in the industry based on their services, streamlining, history, and reputation.
Top 5: Best Gold IRA Companies
#1. Goldco
Goldco is the top gold IRA company on our list. They simply have a setup that outshines the rest of the competition, with satisfied reviews that prove it works. Because of this company's popularity, you can find tons of online feedback regarding people's customer experiences. The vast majority of it is extremely positive.
On the Better Business Bureau website, there is an average of 4.84 out of 5 stars based on 306 reviews. By comparison, only a handful of complaints have been filed. Goldco maintains an A+ with the BBB, which means that they respond to the complaints and make an effort to resolve them to the customer's satisfaction.
On Trustlink, the rating is 4.8 stars with 253 company reviews. Trustpilot also has 4.8 stars with a whopping 733 reviews. On Consumer Affairs, Goldco holds a 4.8 star rating based on 770 reviews.
There are literally thousands of people who have taken the time to write about how satisfied they are with their Goldco experience. Right away, that's a very good sign. But let's take a look at the specifics of Goldco's setup and what they have to offer.
About Goldco
Goldco has been operating in the precious metals industry since 2006, giving them more than 15 years of experience. This makes them one of the older gold IRA companies on the market. Precious metals have only been legal to hold in an IRA since 1997.
Goldco's main focus is on helping clients to open and fund their gold IRAs. The goal is to connect clients with ideal investment-grade bullion at a low overall cost. Compared to the competition, Goldco's fees and pricing structure are both very reasonable.
Goldco was founded by Trevor Gerszt, who is a member of the National Ethics Committee. Prior to getting involved in precious metals, his main area of expertise was in financial investments like real estate. During the 2008 market crash, the importance of precious metals became much more prominent.
Goldco has also recently been sponsored by the conservative talk show commentator Sean Hannity. Sean Hannity chose to endorse Goldco after encouraging viewers to purchase precious metals because of current issues with inflation.
Coin IRA
Trevor Gerszt launched a sister company to Goldco in 2017. This sister company is involved in cryptocurrency IRAs. Like precious metals IRAs, cryptocurrency retirement accounts involve alternative assets and self-directed IRAs.
This company is called Coin IRA. It is technically a separate entity from Goldco, but if you want to invest in cryptocurrency for retirement, your Goldco representative can work with your Coin IRA representative directly.
Not all gold IRA companies offer alternative assets like cryptocurrencies. The fact that Goldco does means that you have a chance to expand your diversification.
IRA Services
Goldco offers products for both gold and silver IRAs. Both of these accounts have the same regulations and paperwork to get started. But silver IRAs focus on silver precious metals, while gold IRAs focus on gold. Many people choose to invest in a combination of silver and gold, depending on their needs.
When you start using Goldco's IRA services, you will be given a dedicated account representative. This person will take you through all of the paperwork, making the transfer process much faster. They will also handle all the communication with your custodian and storage company for you. That's a huge level of streamlining that's difficult to compete with.
As you get your account set up, your representative will answer whatever questions you have. They will get to know you and your goals, and they'll make recommendations based on your potential needs.
Goldco has a wide range of gold and silver products available for purchase. These are compliant with the strict IRS guidelines regarding purity and origin.
Fees
When you open a gold IRA, you will need to work with a custodian and depository. The custodian is an institution that's licensed to maintain self-directed IRAs. The depository is an accredited facility that has the security necessary to protect your precious metals.
Different IRA companies have different preferred custodial partners. Goldco generally partners with Equity Trust as a custodian and Brinks Global Services as a depository company. Brinks has multiple depositories located throughout the US, so you can pick the one that works best for your region.
Goldco does have a minimum investment threshold. If you want to sign up with them, they recommend that you have at least $25,000 to invest. That's more than what a lot of the competition charges, so it may not be accessible to people with smaller retirement accounts.
There is an account setup fee of $50. This covers the cost of doing your paperwork, facilitating the transfer of funds, and having Goldco communicate with your custodian for you. Competitors who offer similar levels of service often charge $150 or more, so the low fee is impressive.
If you work with Equity Trust, you will need to pay about $80 in annual maintenance fees. All custodians charge maintenance fees, and some have additional charges for transactions and reports.
The storage fees will vary depending on the exact depository you choose. You can also expect to pay more if you have segregated storage, which is held separately from everyone else's. For nonsegregated storage, the cost is usually about $100 per year, while segregated storage may be $150 to $180 per year.
Goldco does have some offers in place for first time investors, though. For example, if you invest $50,000, the company will waive the setup fee and maintenance costs for the first year. They also have promotions that allow you to get back a portion of what you invest in silver coins.
Buyback Program
One of the biggest drawbacks of precious metals is that they can be difficult to liquidate. You can't pay for groceries with silver, and if you need cash fast, local pawn shops are likely to offer much less than the gold is worth. That's why Goldco has a buyback program.
When you're ready to liquidate your holdings and take distributions, you can sell the precious metals back to Goldco. They will give you a buyback quote that is based on the current price of the metals. Goldco's buyback offers tend to be much more generous than an average pawn shop's.
Something to keep in mind is that Goldco works with customers for life. Even if you don't intend to make a purchase, you can call up your account representative to ask questions. They'll be happy to discuss your holdings and different economic factors with you. Once you're ready to sell, Goldco will still be there with their buyback offers.
A lifelong relationship with a gold IRA company is important. You want to have a dealer you trust when you add more assets to your account. And you want it to be as easy as possible to take your distributions when the time comes.
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#2. Augusta Precious Metals
Aside from Goldco, Augusta Precious Metals is unbeatable in the gold IRA industry. The company has a unique setup of departments with different experts. Every employee works within one tiny niche of the gold IRA process, meaning that they know everything there is to know. Even with the most obscure questions about precious metals, someone at the company will have an answer.
Augusta Precious Metals has an excellent online reputation. They have been accredited with the BBB for seven years and hold an A+ rating. No complaints have been filed against them in the past three years. The customer rating is 4.94 out of 5 stars based on 108 reviews, indicating universal satisfaction.
There are similarly positive reviews on other third party websites. Consumer Affairs gives 5 stars with 43 ratings. Trustlink gives 4.9 stars based on 283 ratings. Not only can you read hundreds of positive reviews from past customers, but it's very difficult to find negative feedback online.
About Augusta Precious Metals
Augusta Precious Metals is a gold retailer that specializes in gold IRAs. They sell investment bullion that can be held in a self-directed IRA, and they have in-house teams of people to help with the paperwork and funding.
The biggest potential drawback of Augusta is that they have an even higher minimum investment threshold than Goldco. You're encouraged to work with them if you have $50,000 or more to invest in precious metals. So they're not going to be accessible to less wealthy individuals.
That said, the streamlining of their customer service might actually outcompete Goldco.
Augusta Precious Metals has been operating since 2012 and has spent a decade becoming one of the top names in the industry. The CEO is Isaac Nuriani, who is a member of the National Ethics Association as well as the Industry Council for Tangible Assets.
Fees
There's a basic fee of $50 for setting up your account. However, depending on your purchase, Augusta may waive that fee. They may also be willing to cover the costs of storage and maintenance for up to a decade if you are a high net worth client.
When you work with Augusta's preferred custodian and depository, you will pay $80 for maintenance and $100 for storage. The storage cost includes a full insurance policy that covers all of your items, so you can be reimbursed in case anything goes wrong.
Augusta Precious Metals does not charge any fees for shipping. They will send your precious metals to your depository of choice free of charge. If you make a purchase for your personal portfolio with cash, you will also have the option of having your items delivered to your physical home address.
The pricing of the products is also calculated in a very straightforward way. There is a markup of 5% on bullion. That's a little higher than with some companies, but it's much lower than the industry average. Augusta's pricing is very competitive because of how they operate.
There is even a price match guarantee. If you find another company that is selling the same product for a lower price, Augusta will match their quote. So you don't need to worry about whether you're missing out by taking the 5% markup over a company with extremely low overhead.
Custodian and Storage
Like many of the top gold IRA companies, Augusta Precious Metals prefers to work with Equity Trust. Equity Trust has one of the most solid reputations in the industry. This institution handles millions upon millions of dollars for its clients, and it has high satisfaction ratings from past customers.
The Equity Trust fee for maintenance is $80. This flat fee remains the same no matter how much you accumulate in your account. Flat fees are preferable to percentage-based fees, since this way you aren't penalized for accruing more wealth.
Augusta Precious Metals works with a large number of different depositories. They have stated that their preferred partner is the Delaware Depository in Delaware. This is one of the largest and most secure depositories in the country, and it is subject to Delaware's tax advantages.
However, if you have your heart set on a different location, there are options for you. Augusta Precious Metals works with depositories located in every region of the US, plus one international depository in Canada. There are depository options in New York, Massachusetts, North Dakota, Ohio, Nevada, Utah, California, and Idaho.
Unfortunately, Augusta Precious Metals does not seem to have a depository agreement with any facilities in Texas. There are some other companies that partner with Texas depositories for those in the South.
Buyback Program
Like many of the top competitors on the market, Augusta Precious Metals has a buyback program. You can call them for a quote when you're ready to liquidate your metals. They will also buy back metals that were bought for personal portfolios rather than retirement accounts.
You have the freedom to choose any buyer you want. But Augusta Precious Metals is a quick option for liquidation, especially since they tend to offer fair prices.
Educational Materials
Client education is one of the most key pieces when it comes to good gold IRA companies. You want to feel empowered to make the best decisions for your future. Even if you don't invest with a company, they should help you feel confident and secure in your choices.
Augusta Precious Metals has a huge number of educational materials available online. You can get a free precious metals kit sent to you, which has information about the industry and different products. There's also an entire webinar that will walk you through the basics of precious metals investment.
Augusta has published multiple videos and tutorials regarding the industry. There's an entire video library that you can peruse. On top of this, you can read articles and blog posts by the staff regarding different global economic happenings.
There are also basic tools on the website. You can view the prices of precious metals in real time using the price chart. There's even a retirement calculator that will help you determine how much you need for retirement based on the current inflation rates.
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#3. American Hartford Gold
American Hartford Gold is one of the top precious metals dealers in the US. They have been in business for seven years and have excellent overall reviews. Though they're a relatively new company compared to some, they have grown to be one of the most popular options. There are thousands of customer reviews available online.
On Trustpilot, the rating is 4.9 out of 5 stars with 1,024 reviews. On Consumer Affairs, there's another 4.9 star rating with 104 reviews. The BBB gives a rating of 4.93 out of 5 stars based on 237 reviews. All of these ratings indicate that there is almost unanimous customer satisfaction.
The BBB has accredited American Hartford Gold and gives them an A+ rating based on how they respond to complaints. While there have been a handful of complaints left within the past three years, there are far fewer complaints than positive reviews.