As you begin to think of making a gold IRA investment, you would also start to look for the best Gold IRA companies to which you will entrust the security of your money.
This post is an example of how to compare gold IRA services.
We will go over the top three gold IRA companies that exist in the market today: Augusta, Goldco, and American Hartford.
These are top-notch precious metal dealers. Pick one of them to ensure that your investment will grow, and you have a good return when you retire.
The 3 Top Gold IRA Companies of 2022
- Augusta Precious Metals: Best gold ira company overall
- Goldco: Most Transparent Pricing
- American Hartford Gold: Great selection of bullion and coins
1 Augusta Precious Metals: (5/5 Rating)
Augusta Precious Metals is the most trusted gold IRA company that has received no complaints since it started operations in 2012. It has received no complaints based on the BBB and the BCA reports.
The company’s mission is to empower people to protect their retirement funds by investing in silver and gold. Augusta's main advantage over competitors is its simple onboarding process.
Gold IRAs are not the same as the standard IRAs, and people can easily get confused trying to understand how it works. However, companies like Augusta have developed a way to simplify the process.
In addition, Augusta offers customer support that lasts over the long term, as they stay connected with account holders and their families for the lifetime of their gold IRA investment portfolios.
That top-quality kind of customer support is easy for Augusta to provide, and the way they do that is by creating a separate department tasked to assign an agent for each of their customers. A personal agent can easily provide personalized or specialized services.
The company knows how important it is for customers to be always assured that their money is safe and their investment grows.
Also, Augusta only partners with the best coin minting company. By partnering with the Royal Canadian Mint (RCM), Augusta can offer gold, silver, and platinum in their highest level of purity possible.
Most of the gold coins the RCM mints are 99.999% pure gold. The RCM is the first minting company that minted gold coins to that standard.
The same is true with their silver coins. RCM mints silver coins with a purity level of 99.999%. Their platinum coins are not as pure because platinum is usually an alloy. Still, RCM can produce platinum coins with a purity level of 99.95%.
Pros:
- Zero complaints since Augusta started operations in 2012
- A+ BBB and AAA BCA rating
- Low-cost
- Transparent fee structure, no hidden costs
- Great gold and silver coin selections
Cons:
- The only disadvantage with Augusta is their minimum requirement of $50,000 for new accounts. Other gold IRA custodians require a minimum of only $10,000.
If you can meet Augusta’s minimum, we think that Augusta is one of your best bets for gold and silver investments.
Click here For Gold Kit From Augusta Precious Metals
2 Goldco: (4.8/5 Rating)
Another company with stellar reviews is Goldco Precious Metals. BBB records show that it has received 142 reviews in December 2021 on the platform so far, and not a single one of them has expressed any complaint regarding its services.
Goldco can be your best alternative if you have a smaller amount of money to start with. Their minimum requirement is $25,000. However, they do not offer custodian services, though the company helps their clients look for such services.
They can recommend reliable custodian services, but in the end, you will have to be the one to choose a custodian service on your own.
Goldco understands that saving for retirement is not an easy task. Even if you do all the right things to protect your money, something can happen in the market that can wipe out all of your savings.
The market crash that happened in 2008 is an eye-opener for everyone, and Goldco responded by providing a solution so that people have the option of providing immunity against the ups and downs of the stock market.
For Goldco, the core benefits of investing in a gold IRA include:
- Tax benefits – The company believes that people have the option of acquiring tax-free capital gains.
- Rollover ease – Transferring retirement funds into gold or silver IRA need not be a grueling process to do.
- Financial stability – Precious metals increase in value because people and businesses demand ownership and use of them. They have actually outpaced the stock market since 1971.
- Diversification – It is always the rule that no one should put all their eggs in one basket.
Pros:
- Goldco is a long-time player in this industry. More years of experience means a high level of reliability and expertise.
- High rating with the BBB, Trustlink, and Trust Pilot
- Goldco's trained staff can evaluate individual circumstances before recommending which metals to include in a gold IRA account.
Cons:
- The company does not provide custodian or storage services.
The movie icon is known to be an advocate of personal protection, strength, and freedom.
With this partnership, the company implies that they value protecting people’s wealth and the ability to take full control of their future.
Click here For Gold Kit From Goldco
3 American Hartford Gold: (4.5/5 Rating)
Another reliable platform that people trust is American Hartford Gold. This company believes that investments in gold, silver, and other precious metals allow people to keep their money safely.
The advantages you will get from AHG include:
- Full control of your investment
- Keep updated on the latest market trends
- No minimum amount required for self-directed IRAs
Its services include gold and silver IRAs, gold and silver IRA rollovers, and the physical delivery of precious metal bars and coins.
Full access to representatives in real-time
The company keeps its clients informed with data centers that keep them updated with the latest market trends. Also, clients have access to account representatives 24/7.
With an active account with AHG, you have access to account executives anytime you need to track the value of your gold IRA. Also, you will receive statements from your account administrator regularly.
You can also view real-time price charts accessible from your phone or computer. AHG storage fees are based on the client’s account size and the metal holdings in the depository. Depending on the client’s situation, the storage might be free.
Liquidate anytime
You can liquidate your account anytime to take possession of your metals. However, there are tax consequences to consider. If you liquidate your metals before the age of 59.5, there can be penalties and tax consequences. Contact a tax advisor before deciding to liquidate your account.
AHG is committed to the promise that they will process any request for liquidation. They do not guarantee that they will repurchase metals, but they will surely liquidate assets upon request.
Liquidation processing with AHG consists only of three simple steps with zero liquidation fees. They will also help you arrange shipment, and then they will issue you a payment.
Pros:
- Top-of-the-line customer service
- Buyback commitment
- A+ BBB rating
- Solid selection of precious metal bullions
Cons:
- Does not ship outside the US
- Pricing is not listed on its website
Click here For Gold Kit From American Hartford Gold
Advantages of Gold IRA Investment Companies
There are many advantages of precious metals IRA investments, including control, security, and diversity. These advantages are why these instruments remain the simplest and the most effective way to add balance to your retirement equation.
Diversification is the best way to combat volatility in investment holding. The goal is to generate reliable returns over the long term. A wise investor needs to counter the threats involved in paper assets that include:
- The declining value of the US dollar
- The immense debt of the US government at home and overseas
- Geopolitical tensions
- Inflation
In contrast, precious metals provide a hedge against inflation. When the dollar loses its value, the value of precious metals tends to increase. Thus, owners of gold, silver, and platinum IRA holdings gain more during an economic crisis.
Unlike paper assets that devalue during a crisis, there is no way that the value of precious metals falls to zero. With such a guarantee, you will have peace of mind knowing that your retirement assets are perfectly safe.
Tax benefits
Through 1031 tax deferral, you can postpone your capital gains tax. If you satisfy the IRS requirements and reinvest the money from your gold by buying more gold or investing in like-kind precious metals, all of your transactions will be non-taxable.
A store of value
Precious metals increase their value over time. No other investment instruments have been tried and tested over thousands of years.
Security
Gold and silver that you hold are tangible investments. They are REAL, while money is just an electronic number in an online account.
Holding a gold IRA in a retirement plan requires a special gold IRA custodian who has expertise in this type of investment. You need to seek their counsel, but check reviews on these companies before committing.
Also, compare gold IRA fees and services on these providers before choosing anyone of them.
What is a gold IRA?
A gold IRA is a self-directed retirement account that involves investment in precious metals, such as gold and silver.
There are three sets of fees that precious metal IRA companies charge. First, they charge a one-time fee for setting up an account, ranging from $50 – $150.
Some providers do not charge this fee for large initial deposits. Companies also charge an annual fee called a custodial fee.
How we ranked the top gold IRA companies
Here are the criteria we employ in assessing precious metal companies:
Reputation and Reviews
Does the company have favorable reviews? What ratings do they have from the BBB, BCA, Trust Pilot, and other rating agencies?
Ease of Setup
All three companies featured in this post have an easy account setup process. Plus, they guide clients through the process of setting up their accounts step-by-step.
Costs and Fees
Gold IRA companies must be transparent with their pricing. If you cannot find pricing information on their website, try calling the company and ask them.
Commissions
Gold IRA companies charge their clients a commission. Expect it to be around 5% of the cash value of the precious metals you will buy.
Setup Fees
Compare the setup fees these companies charge clients. If it is over $200, you can ask the company why it is way too high compared to other providers.
Storage Fees
There is an annual storage fee for gold IRA accounts. Across the board, the average is $300.
Maintenance Fees
There is also an annual maintenance fee. More or less, that is an additional $300 per year.
Selection of Gold and Silver Products
The company must offer only IRS-approved precious metals – gold, silver, palladium, and platinum bars and coins.
Potential Buybacks
Gold IRA companies have buyback offers. You can withdraw the amount equivalent to your precious metals at any time you need it.
Sometimes, events may arise that require you to use the money you have in your depository. Take note of the penalties and tax consequences.
Why do people invest in gold-based IRAs?
Precious metal investments allow portfolio diversification. Precious metals portfolio diversification is a way for investors to immune their savings from market crashes, inflation, deflation, and currency devaluation.
What is a gold IRA rollover?
A gold IRA rollover is a way to convert existing retirement accounts into bullion bars or gold coins. It is a technique that investors use to protect themselves from economic uncertainties and inflation.
What is the minimum investment for a gold IRA?
The IRS has no minimum requirements for gold IRA accounts. However, some providers have a minimum requirement. You can find low minimum requirements or even zero minimum requirements. Augusta Precious Metals requires a minimum of $50,000 for an initial deposit.
Should you buy gold bullion or gold coins?
Generally, gold coins, such as Gold American Eagles, are better investments than gold bullions. It is because sovereign coins are easy to trade and sell at higher premiums than bullion bars.
Where are the precious metals inside your gold IRA stored?
Precious metals that are invested in a self-directed IRA are stored in a registered depository. When selecting a depository, make sure that it meets the requirements set by the Internal Revenue Code.
Which IRS-approved coins can you hold in a gold IRA?
In the US, only one, one-half, one-quarter, and one-tenth-ounce US coins can be accepted into a gold IRA account. American-Eagle gold and silver coins are acceptable.
Final thoughts - which gold IRA company is right?
When choosing a gold IRA company, make sure to read reviews first. Any of the three providers featured here have sterling reviews, so they must be providing top-quality services.
Pick any of them to make sure your retirement money is 100% protected. Never transact with any provider with a questionable reputation.