Gold IRA Companies

The Clock Is Ticking and the Economic Downturn Will Arrive Protect Your Golden Age Nest Egg With One of the Best Gold IRA Companies26 min read

Jul 7, 2021 19 min
Gold IRA Companies

The Clock Is Ticking and the Economic Downturn Will Arrive Protect Your Golden Age Nest Egg With One of the Best Gold IRA Companies26 min read

Reading Time: 19 minutes

Welcome to the Best Gold IRA Companies showcase

After spending the last 11 months researching, studying info kits, playing prospect with advisors, asking them the hardest questions, investigating reviews, examining complaints and drinking way too much coffee than my cardiologist should ever know about, I’m ready to reveal which company is the best Gold IRA provider.

Best Gold IRA Companies

Look:

Finding the perfect Gold IRA provider is not easy. It can take many months to sort through all the information. Meanwhile, the stock market is fluctuating, and your money is vulnerable. And to make things worse, if there’s an economic downturn, then it might be too late to cover all bases.

You see, for the past decade, I’ve taken control of my future with Self Directed IRA. I’m learning every day and read a ton to find the best possible retirement plans. For some, this is a chore for me; it’s a hobby. I hope that many of my readers will retire early and in style just like me.

To get you the very best info possible, I’ve played prospect with every IRA company on my list. I’ve tested their advisors with the toughest question to see if they are a real deal. After ruthless elimination, only 3 companies were left standing. Going with any of these three is a guaranteed winner.

Now let’s protect our assets already!

Best Storage

Minimum Investment: $50,000
Bonus: $0 Fees for new members
Fees: $250

Best Overall

GoldCo

Minimum Investment: $25,000
Bonus: Welcome special 10% back in Silver Coins
Fees: $80 + storage

Best Service

Birch Gold

Minimum Investment: $10,000
Bonus: Up to $10,000 in metals for qualified accounts
Fees: $180 yearly storage + one time $50

If you plan to open a Gold IRA, you need to know which are the best gold IRA companies out there. With so many options, it’s nearly impossible to pick one yourself. You could get suggestions from your financial advisor, but they often have different top picks, too.

Ultimately, you are searching for a way to protect your retirement and wealth. With today’s uncertain times for the economy, you want to spread your funds out into other options. You believe that precious metals and gold are the best investments to make, offering a diversified portfolio, and I agree. I feel it’s the best thing to do, but I also know you might have trouble locating the best gold IRA company.

I created this section of the website to discuss that the safest way to invest in physical precious metals is actually to convert part of your 401(k), IRA, annuity, and other retirement plans into a physical gold-backed IRA. This is tax-free and is often referred to as a Gold IRA rollover.

Top Three Gold IRA Company Options

We’ve found that the top three companies for a gold IRA are:

GoldCo

GoldCo: #1 Gold IRA Company

Birch Gold

Birch Gold Group: Best IRA for Royalty Experience

Augusta Precious Metals: Best IRA for storage

Let’s take a look at each one separately:

1. Gold CO

GoldCo

Those who want the best gold IRA companies are sure to appreciate GoldCO. It helps customers protect their retirement savings by transferring everything to a silver or gold IRA. This gold IRA investment company includes gold IRA experts and maintains an excellent reputation with its customers.

One of the things it prides itself on is its customer service, even after you create your account. I’ve tested that theory by sending messages using the online chat box and received my reply within a few minutes.

Also one of the most known American action hero is endorsing them who is non other than Chuck Norris. If you’re interested in the full length GoldCo Review you can read it here.

GoldCO understands that it’s intimidating to save for retirement. Even if you do the right things, your wealth could be wiped out sooner than you think. To help you avoid various market crashes, you can find retirement products backed by precious metals. There are a few reasons to do this:

  • Tax advantages

    As with a regular IRA, your gold IRA accrues gains tax-free.

  • Diversification

    Buying gold protects against default, currency, and geographic risk, as well as inflation and financial crisis.

  • Rollover ease

    It’s easy to transfer your retirement account to a gold IRA.

  • Wealth appreciation

    Though gold is stable, the price has increased steadily throughout the years.

  • Financial stability

    Since gold supplies only increase by small amounts, there’s no real risk of inflation.

Fee Structure/Prices

  • First-year fees for those with $50,000 or more Waived
  • Storage and insurance each year $180
  • The first year (set up, storage, and insurance) $260

Storage

  • Storage for your non-IRA transactions if they’re not delivered to the house Free
  • IDS Texas (segregated only) $150
  • Brinks Salt Lake City (For anything non-segregated) $100
  • DDSC is the preferred option

Minimums

  • Minimum purchase for the gold IRA $25,000
  • Minimum purchases outside of the gold IRA $3,500

Services and Products

Pros

Cons

2. Birch Gold Group

Birch Gold

Birch Gold Group is a top gold IRA dealer for precious metal products and focuses on putting its customers in the right position to get a safe retirement. Its offerings are unique from regular retirement accounts or traditional IRAs because the accounts it uses are backed primarily by precious metals, so they’re less volatile.

The advantage of choosing a precious metal portfolio from this gold IRA investment company instead of opening your traditional retirement account is you’re not as likely to lose your savings if the market crashes. I’ve realized this is very attractive to many investors.

With that, Birch Gold Group takes pride in working with its customers and educating them so that they know where their money is and why that’s the best choice. To do this, it created a content library, which is found right on the website. Plus, the company is active on social media and has been on podcasts to talk about market instability and growth cycles.

Such dedication to helping people understand why gold could be the better choice has resonated with its clients. This was shown from many positive reviews on the website and elsewhere on the internet.

In a sense, Birch Gold Group helps its customers prepare for their retirement by rolling over or opening retirement savings into precious metals IRA accounts. Its team consists of financial advisors, commodity brokers, and wealth managers. If you want to read my full Birch Gold Group review you can check it out here.

Fee Structure/Prices

  • First-year fees on precious metal IRAs over $50,000 Waived
  • Management fees $80
  • Storage and insurance fees $100
  • One-time custodian fees (account setup is $50, and wire transfers are $30)
  • Birch Gold custodians often charge fees for setting up the account, helping with the rollover process, and annual charges for insurance and storage at the depository

Storage Options

  • Everything is stored at Brink’s Global Service (Salt Lake City, Los Angeles, New York) or Delaware Depository.

Minimums

  • Minimum purchases outside the IRA $10,000
  • Recommended minimum purchase for silver and gold in the IRA $10,000

Services and Products

Pros

Cons

3. Augusta Precious Metals

Augusta Precious Metals is a top choice for your IRA investment company and has won awards. In fact, it can stay with customers throughout the life of their gold and silver portfolios.

Since 2012, this company has wanted to empower and educate the retirement community to help them protect their funds by adding gold and silver to their retirement portfolios. This company is a leader and advocate in the field because it’s committed to simplicity and transparency. Unlike other gold companies, Augusta offers lifetime customer support. It doesn’t just do the transaction; it stays with the customer and their family for the life of their precious metals portfolio.

In fact, Augusta offers separate departments that provide specialty services to streamline the gold IRA process.

The efficient and unique way that Augusta operates ensures that it passes the savings onto the customers. It partners with Royal Canadian Mint, so it has lower prices and purer coins than others. A benefit is that this company makes it easier to buy IRA-approved precious metals for your physical gold IRA.

I feel that Augusta stands apart from the crowd because of its highly trained team. They assist customers, are genuine, and have experience and knowledge of the industry. While customers can also buy gold and silver without a gold IRA, the company does specialize in gold IRAs. That’s different from other companies that sell precious metals IRAs as one of their many products. If you’re interested in my full review check out the Augusta Precious Metals Review over here.

The advantages of such specialization show in the materials the company offers for free, the easy process, competitive prices, repeat business, and customer loyalty.

Augusta Precious Metals is endorsed by non other than Joe Montana Hall of Fame Quarterback.

Fee Structure/Prices

  • Markup of the precious metals bullion products 5% over cost
  • Can get fees paid for a lifetime
  • Sample depository storage fees $100 (annually)
  • Custodian fees $50 for application and $80 each year
  • Company covers all liability insurance and shipping costs until you take delivery of the precious metal products

  • No commission fees added to the prices for the precious metal

Storage

  • Cash purchase of precious metals are stored where you choose

  • IRA gold and silver is stored at highly secured, insured depositories, such as the Delaware Depository

Minimums

  • Minimum purchase for anything not in an IRA $25,000
  • Minimum purchase for gold and silver (precious metals IRA) $50,000

Services and Products

Complaints

Augusta Precious Metals has no complaints from third-party websites or review sites, which makes it a top gold IRA company. It’s impressive that there aren’t any complaints on the BBB’s website. This means that the company has never had complaints, or they were resolved so fast that customers didn’t post them onto review sites.

Pros

Cons

Bottom Line - The Top Choice

The bottom line here is that these three custodians made the list for the best overall gold IRA companies because they’re trustworthy and helpful. GoldCo, Augusta Precious Metals, and Birch Gold Group are the winners here. While some gold IRA reviews only focus on the good, we want you to know everything about the companies.

I’ve organized these reviews of the best gold IRA companies and precious metals IRAs based on comparison points for the industry and focused primarily on the fine print. I’ve found that most of the important data were hard to find, so we did the digging for you.

If I would have to choose only one, we feel that the best Gold IRA company has to be GoldCo. In a sense, they offer everything you could want for your gold IRA company. Though it doesn’t have as many options, your primary goal is to get gold, silver, platinum, and palladium into your retirement portfolio.

Quick Tips for Choosing a Gold IRA

How I've Choose Our Gold IRA Company Reviews

I’ve looked at some of the well-known gold IRA companies out there to find the top 10. From there, we narrowed the search further down to three. This required us to read their marketing materials, websites, reviews, gold kits, complaints, ratings, and more. With that, I’ve also used our vast knowledge of the industry to make this list.

In this guide, you can learn about a gold IRA, what it is, and how to add precious metals to the retirement portfolio. I hope that when you’re finished reading, you are equipped with the information needed to make a decision about whether gold IRAs are the best way to invest in gold.

I Did the Work!

1. Research

I searched for gold IRA companies and made a long list. In a sense, I began with gold IRA custodians that have been around for many years. You should trust your retirement to a business that has been around for many years.

2. Read

From there, I studied the educational materials available from these gold IRA companies and looked at the free eBooks about Gold IRAs. I also looked at important information, such as storage, fees, and service options.

3. Reviews

It’s not enough to look at the hard facts. I also checked customer reviews from the internet, such as from BBB, Trustlink, Google, and Yelp. Sometimes, there are specific complaints against the gold IRA custodians, and I didn’t want to include those options.

4. Reputation

I always check to make sure these investment companies are accredited. With that, they should be in good standing with a third-party trust association like the BCA (Business Consumer Alliance) or BBB (Better Business Bureau).

What Is a Gold IRA?

what is gold ira

A gold IRA is similar to the traditional Individual Retirement Account (IRA), and it comes with certain tax advantages. The primary differences here are that they are self-directed and allow you to own physical precious metals. With a gold IRA, the retirement funds aren’t limited to paper-backed assets, such as bonds, the stock market, and mutual funds. You invest in the gold itself and must focus on gold prices.

How Does the Gold IRA Work?

When you want to invest in gold and other precious metals, you need a gold IRA. Often, you go to a specialty company, such as the ones reviewed on this page. Remember, GoldCo is an excellent company and allows you to purchase precious metals for your IRA. It also has great customer reviews, showcasing how it works for you.

These custodians typically source IRA-approved gold/precious metals and then purchase them on your behalf, using your funds. That way, you’re not buying the gold/silver yourself or withdrawing funds, which could cause a tax liability. Here are the steps to expect when going through the process to purchase precious metals:

1. Fund the Gold IRA Account

These gold IRA custodians often have minimum investment amounts. If they didn’t, the time it takes to create it all might not be worth it, and they have small margins. Expect your minimums to be anywhere from $10,000 to $50,000. I’ve listed most of that information. You may also consider IRA rollovers from your 401(k) to make this happen, so you have a bigger amount to ‘roll’ into the gold.

2. Consider the Fees

The gold IRA company makes a commission of the precious metals it buys for your IRA. Typically, this is anywhere from three to five percent above the spot price of the metal. This is similar to real estate agents charging commissions when they represent you to sell your home. Here are a few other fees you should expect:

  • Initial setup fees $50-$90

    The first-time fee is only paid once for processing the paperwork and setting up your gold IRA account. It’s usually between $50 and $90.

  • Depository fees $100-$300

    Our gold must be stored in a physical space at a government-approved facility. This storage facility has higher security, monitoring, and insurance. They can cost anywhere from $100 to $300 each year, so make sure you find the lowest ones from the best company.

  • Annual fees $300

    Each gold IRA company charges a yearly fee to keep your account in good standing. They can be up to $300, and some custodians waive those fees for the first year or the entire life of the account if you have a specific minimum.

3. Withdrawals

When you hit 72 years old, you can take out your required minimum distributions from the gold IRA. This means you can withdraw from it each year.

Three Simple Rules for Your Gold IRA

Here are the three rules you should follow to own a gold IRA:

1. IRS-approved Metals

Precious metals like gold, silver, platinum, and palladium must meet appropriate standards for fineness and purity to be approved by the IRA. Gold IRAs can have silver, platinum, and palladium, as well as gold and other precious metals. Here are the purity levels necessary:

2. Storage

Precious metals in your gold IRA should be stored at a third-party depository with insurance. Gold IRAs are just like traditional ones, so you should not have the physical gold in your possession. Choose a company like Birch Gold Group that offers precious metal storage for you

3. Taxes

Precious metal IRAs are subjected to the same tax laws for simple IRA, SEP, Roth, and traditional plans.

Starting Your Gold IRA

Before you choose a company to work with, it’s best to focus on what the Better Business Bureau has to say about it. Though it’s simple to start gold IRAs, you need to know that your gold IRA account is held by a reputable custodian and company.

You can roll over your current IRA or convert your TSP, SEP, 403B, Roth IRA, 401(k), Pension Plan, or Annuity plan.

Gold IRAs are considered self-directed IRAs. It’s usually unlikely for an employer to allow you to move funds into gold IRAs. However, if you transition out of the job, you have more control over those retirement funds and can maintain the tax-deferred status.

To invest in gold with a self-directed IRA, the expert advisor walks you through the paperwork and guides you to the right metals and depository for your gold IRA account.

It usually only takes 30 minutes to complete the process if you have an email address, phone number, and computer.

Choose the company you want to work with and fill out the application for a gold/silver IRA. Fund the account, choose the metals you want to have, such as gold/silver, and others.

Why You Should Invest in a Gold IRA

Investing in gold/silver is a great way to preserve your wealth, and precious metals IRAs are the top choice. Though you must choose the right gold investment companies and have the minimum investment, you can save yourself the headache of worrying about paper currency. Though you need IRS approved gold and silver coins and bars, investing in gold is a great idea. Here’s why:

What’s a Gold IRA Depository?

Most gold and silver IRAs require you to have a minimum investment because the custodians must pay to store your gold in a special facility.

When you buy gold as part of your IRA, it must be in an approved depository, and this is a legal requirement. The depository is just a company that has a highly secure building and protects investor assets in a dedicated location. For example, there’s a depository located in Fort Knox, and it holds a large portion of the gold reserves for the US.

In a sense, a gold IRA depositor is a safe place to store your gold investment. That way, you have peace of mind that the gold investment is safe, and you don’t have to keep these things at home.

Here are a few reasons to use depositories to hold your gold:

While you do pay annual fees and require a minimum investment by the company, you can get everything you want and protect your retirement accounts.

Remember, a gold investment is just like regular cash; you don’t keep every penny at home, and you shouldn’t do that when investing in gold. While the price of gold matters, gold investments are crucial for well-rounded retirement accounts. You can invest in precious metals with ease when you choose the right company.

Why Should You Be Investing in a Gold IRA?

How Rare Is Gold?

If you were to gather all the gold, melt it down, and pour it into a cube, it is likely to measure about 21 meters across. That’s all the gold that’s owned by every government, along with the gold held privately, and all the gold in art, chains, necklaces, and rings.

In fact, this number includes the gold in bars, coins, electronics, and tooth fillings. It’s everything that is above the ground currently or since we first learned how to get it out of the earth. Ultimately, the amount of gold we have fits into an Olympic-sized pool and weighs about 91,000 tons total.

Why a Gold IRA Rollover Is a Great Way to Invest in Gold?

Most investors think of themselves as savvy and understand why they should be investing in a gold IRA rollover to include gold, silver, platinum, or palladium. However, everyone doesn’t have thousands of dollars to let them purchase it directly.

Even if you had large sums of money ready to buy from a gold deal, this is after-tax money. The net capital left after the taxes come out is steep. Therefore, gold IRAs are quite popular for that reason. Though they do come with an annual fee, the price you pay is much less than if you were taxed on it (if you choose the right company).

Most people have larger amounts of investable funds in 401(k)s and IRAs. You can do a rollover of the funds without paying taxes!

Now, investors like yourself can roll over silver, platinum, or palladium and add it to your IRA. These accounts are great for first-time investors who want the security of gold or already have existing retirement accounts and plans.

While these accounts used to only let you include money-backed assets, bonds, and stocks, they include gold or silver options. You’re allowed to diversify your assets and reduce inflation problems on your savings with a low annual fee. Though the coins/bars must be approved by the IRS and held in a licensed and insured depository, you can still take them home based on withdrawal rules set up by the Federal government.

Questions to Ask a Gold IRA Company

Before you jump into the fray, you should have a list of questions readily available to ask the gold IRA company before you decide to use its services. These include:

Most companies are actually bulk dealers for gold or silver. IRAs are often just a small part of the business. You should consider a company that focuses on gold IRAs exclusively to get more personalized services.

Most companies charge a premium for the precious metals you want to include in your portfolio. Stay updated about the prices of gold to ensure that you get a fair deal. Also, focus on locking in that price, so there aren’t surprises later. Usually, the lowest spot price is ideal, but that’s only one factor to consider. Please note that all investments have risks involved, and a gold IRA does, as well.

When you’re liquidating the holdings for cash, you want the money. The company should buy back the gold when you’re done with it. That way, you can wait for your check, but there are different offers.

Many custodians charge a flat annual fee, regardless of how much gold is in the account. You should pay the annual fee once a year, which should include administrative, storage, and setup costs. However, some companies use scaling fees, so you’re charged a percentage based on the amount of gold you store.

There’s plenty of information on the internet, so you can see just how trustworthy, experienced, and reputable the company is by reading complaints, testimonials, and reviews. If there’s even one complaint, you might want to go elsewhere. Otherwise, the next concern could be yours. Research online sources and check them thoroughly or use our review because we did the work for you!

You want a company (or the team behind it) to have the best information for the industry because they should be experts. Determine how long they’ve been dealing with precious metals and gold IRAs.

You should know how long it takes to get the gold once you request it. If it’s longer than seven business days, we think that’s unacceptable.

Typically, the best companies provide quick turnarounds. Therefore, it shouldn’t take longer than two to three days to process your gold IRA. Companies offering simple online forms can process the paperwork faster than those who require you to go in and deal with someone directly.

As with the other question, you probably want to take care of everything online. Most people use the internet to handle banking and purchasing needs. If the company faxes or mails the documents, it’s sure to take longer. Make sure you ask about online dealings if that’s what you want. This also gives you more insight about how modern the operation is. Try to stick with companies that aren’t outdated because they care about their customers and their needs. That also ensures that you can track everything and know that your information isn’t just sitting on a desk.

Conclusion

I understand that it can be complicated to know what you can do with your 401(k) and other retirement accounts. Luckily, you now know that it’s possible for you to invest in gold and other precious metals. The process doesn’t have to be difficult, but you need the right custodian or company behind you.

While there are many companies out there, you want one that exclusively handles gold IRAs. These are the best options because they have industry experts who are willing to walk you through the process. I feel that the best companies are Goldco, Birch Gold Group, and Augusta Precious Metals. Though it depends on your specific needs and minimum investment options, you can get quality service from any of these three companies.

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