Essentially, a gold-based IRA can be one of your best options for protecting your retirement funds against inflation and market volatility. A gold IRA, which is also known as a precious metals IRA, is a type of self-directed retirement account that lets you invest in tangible precious metals like gold, silver, and platinum.
Unlike a traditional IRA account, which can easily be set up by most investors, setting up a gold IRA account is a little more complicated and involves a few extra steps.
Therefore, a lot of people rely on the best gold IRA companies to make the process easier for them.
To help you choose the best gold IRA company, we’ve analyzed the top companies in the sector. We rated each gold IRA provider below on a variety of factors including reputation, annual fees, selection of precious metals, buy-back program, and user reviews.
Our pick for the top gold IRA company for 2023 is Goldco. With an A+ rating from the Better Business Bureau, five stars on TrustLink, and an outstanding reputation on Trustpilot, Goldco is one of the top gold IRA companies on the market.
Goldco gives customers a choice between two options:
Goldco Precious Metals IRA
A gold IRA can be your best option if you want to protect your retirement funds. The first step is creating a precious metals IRA. Because this process can seem complicated, a Goldco representative will walk you through the entire process.
Once you’ve created an IRA, you can transfer funds to your gold IRA from an existing retirement plan, like a 401(k), 403(b), TSP, or traditional IRA. It is usually possible to roll over a gold IRA without incurring any tax liabilities.
After your gold IRA account is funded, you can choose which precious metals you’d like to have. Due to the rule that gold coins have a minimum purity of 0.995, not all gold coins are acceptable for investment through a physical gold IRA. To find the best coins possible, Goldco collaborates with mints all around the world.
That is why Goldco is willing to buy back your gold coins at the highest price with its buy-back guarantee.
Buy Physical Gold and Silver Bullion
Goldco allows you to buy gold and silver coins directly if you want to invest in precious metals without opening a retirement account. Your physical gold and silver coins can be delivered either directly to your door or to an independent insured depository. You may even qualify for free storage.
Gold bars and coins are among the many types of precious metals that Goldco offers. With its Goldco Buyback Guarantee, Goldco will buy your precious metals back at the highest price if you ever decide you want to sell them.
Augusta Precious Metals
Joe Montana, a quarterback who is in the Pro Football Hall of Fame, and his group of financial advisors established Augusta Precious Metals, a renowned gold IRA business. Since 2012, this business has accumulated thousands of five-star reviews and won various awards for its gold IRA services.
This company sees retirement planning and saving as a marathon, not a sprint. In order to help people in planning for retirement, it commits to providing them with high-quality information and products for a lifetime.
Every client is welcome to participate in the company’s educational web conference to learn more about gold IRAs (including expenses and fees), the economy and inflation, and how to avoid gimmicks and high-pressure sales techniques.
The website for Augusta Precious Metals refers to its employees as “client success agents,” highlighting its expert knowledge of precious metals. This group keeps up with the latest developments in the world of gold IRAs, silver IRAs, and other alternative assets.
When assisting clients with their retirement goals and aspirations, the company takes great satisfaction in providing high levels of customer service and knowledge from the top down.
The company backs its dedication to its customers with what it calls its three commitments:
Transparency regarding offers, fees, transactions, and answers to any questions.
Consumers may relax knowing that the company’s staff will do the heavy lifting.
Service from professional agents who share information that’s not easy to find elsewhere.
Augusta Precious Metals offers gold IRAs and cash purchases. This reputable gold IRA company needs you to have a qualifying IRA and roll over your funds to your new gold or silver IRA, just like the other gold IRA companies on our list.
How It Works
First, you’ll have the opportunity to talk to a live agent who can guide you in your gold or silver purchase. Your agent can also give you helpful economic guidance to educate you about precious metals IRAs.
Next, you can create your new gold IRA with the help of your live agent. To be eligible for an Augusta Precious Metals IRA account, you must have at least $50,000 available for investments.
After it has been created, you will need to transfer funds from your current retirement account into your newly formed account. Then, you can place an order with the firm’s order desk to buy gold or silver.
Additionally, Augusta Precious Metals allows you to buy physical gold and silver outside of an IRA. You can still get advice from the company’s gold and silver specialists, free and secure delivery, and total control over your precious metal holdings if you choose this option. To buy gold or silver on your own, you just need to perform the following steps:
Fund your account with a cash transfer.
Select your gold or silver options.
Sign for delivery at your preferred location.
You can either buy gold and silver bullion and coins directly from Augusta Precious Metals or use them to fund your IRA. These items made of gold and silver include:
Canadian Maple Leaf coins
American Eagle coins
“America the Beautiful” coins and bars
Augusta Precious Metals works with trustworthy custodians, such as Equity Trust, Gold Star Trust Company, and Kingdom Trust, who can administer your new gold IRA.
Additionally, this IRA company can act as your custodian’s main point of contact, giving you access to the custodian whenever you need them.
The best gold IRA company for customer service is Augusta Precious Metals. It firmly sticks to its promise of lifetime support and takes education very seriously.
Overall, we recommend Augusta Precious Metals for anyone looking to open a precious metals IRA with one of the top gold IRA companies.
Noble Gold Investments
In order to help its clients achieve financial security and peace of mind, Noble Gold Investments offers safe and simple investments in gold IRAs.
Through precious metals IRAs that are secured by gold or silver, the company assists in diversifying investment portfolios and provides precious metals IRA purchases.
Noble Gold Investments’s agents will gladly walk you through potential financial solutions with no hard sell or high-pressure tactics.
Expertise, trustworthiness, and friendliness are the three main pillars on which Noble Gold Investments bases its claim of delivering exceptional service.
The team is well knowledgeable about investment products. This firm’s goal involves using knowledge and skills to build value for its clients as well as protect wealth.
Essentially, the friends who created Noble Gold Investments are the first to demonstrate the company’s dedication to truth and kindness. This firm believes in providing high-quality, friendly guidance.
If you need a service that Noble Gold Investments does not provide, the staff will be happy to make a referral because of the company’s excellent relationships with other professionals in the field.
The business offers a straightforward, three-step process for using a gold IRA to protect your retirement funds.
How It Works
Noble Gold Investments will first provide you with a free investment guide to help you understand the process. Facts and understanding are prioritized by the organization over slick sales tactics and industry jargon. Essentially, making better investment choices requires an understanding of precious metals IRAs.
Next, you’ll speak with a trusted advisor who has the experience and knowledge necessary for serving your needs and helping you meet your goals.
Finally, your advisor will guide you through a simple five-minute process to start your gold IRA account.
According to the Noble Gold Investments website, the gold IRA company is able to offer the most attractive prices and the best offers in the sector because of its access to a wide range of suppliers. The business offers rare coins, gold, silver, platinum, and palladium coins, as well as gold IRAs.
Customers can take advantage of the company’s no-hassle buyback option when their circumstances change.
Noble Gold Investments is one of the best gold IRA companies because of its five-star ratings, prohibition against shady business practices, secure storage and delivery, A+ rating from the Better Business Bureau, and AA rating from the Business Consumer Alliance.
Birch Gold Group - One of the Best Gold IRA Companies
Over the course of handling physical precious metals for close to 20 years, Birch Gold Group established a solid reputation. The gold-medal squad uses its skills to help portfolio diversification by using gold, silver, platinum, and palladium.
These financial experts bring a wealth of knowledge to the table because they gained experience working for leading financial and technological companies. Birch Gold Group makes the process of setting up a gold IRA easy because of its extensive experience and commitment to providing exceptional customer service.
The company sets scrupulous standards for customer empowerment, education, empathy, ethics, transparency, and efficiency.
This firm’s team’s ability to respond quickly is crucial for their work. If you have any queries, you’ll receive detailed answers quickly, so you can make effective decisions.
Essentially, the core values of knowledge, one-on-one care, and trust enhance all of the company’s interactions and services. The Birch Gold Group stands by your side and keeps you informed of the benefits and drawbacks associated with investing in precious metals. Additionally, you’ll learn how to avoid potential scams and schemes.
You can move at your own speed whether you want to look through the website or pick up the phone to contact a specialist.
As you diversify your portfolio, Birch provides you with the knowledge and support you need to feel powerful.
Furthermore, you are more than just a number at Birch Gold Group. You’re a unique individual with plans and goals for a lifetime.
The company will put you in touch with a committed precious metals expert. Your specialist is knowledgeable in the field and will learn about your financial goals and objectives. Throughout your partnership with Birch Gold, the two of you will collaborate, building comfort and stability.
You want someone you can trust to help you along the path and give you peace of mind when the investment journey becomes challenging.
Customers’ trust in Birch Gold is shown through their ratings and testimonies. The team will work hard to earn your trust as you diversify your portfolio.
Birch Gold Group strives to make creating and funding your gold IRA as easy as possible. Setup and custodial costs differ, but depending on the size of your transfer or investment, the company sometimes runs specials with no fees or free products.
The business sells gold, silver, platinum, and palladium coins, as well as bullion. A current buyback quote will be provided by your specialist if you want to sell your precious metals.
Birch Gold Group built its name on customer service, as seen by online testimonials. The customer relations team will check in with you to make sure you’re happy because the goal is for you to be entirely satisfied with every interaction.
Oxford Gold Group
Oxford Gold Group, based in California, has been in business since 2018, and its founders have more than 20 years of combined experience in the precious metals industry. The company offers gold IRA accounts and sells investment-grade precious metals. With hundreds of satisfied clients, Oxford Gold Group also maintains BBB certification and an A+ rating.
IRS-approved precious metal coins and bullion are available from Oxford Gold Group, including:
Gold and silver coins
Gold and silver bars
Platinum coins and bars
Palladium coins and bars
Investors can choose between two options for holding a precious metal IRA at Oxford Gold Group. You can choose between the Brinks Depository in Salt Lake City, Utah, or the Delaware Depository in Wilmington (a popular choice amongst gold IRA providers).
How to Open an Account
It’s easy to open a new account with Oxford Gold Group, follow these steps:
1) Complete the new account forms with your dedicated account partner.
2) Transfer funds, or begin the tax-free rollover from your previous retirement account.
3) Browse through your investment options, and buy the precious metals you want.
Despite being a new company, it offers convenient investment services and a wide range of precious metals. The Oxford Gold Group is ultimately a wise choice for precious metal investing and diversifying your financial portfolio.
What Is a Gold IRA?
Physical precious metals IRAs, or individual retirement accounts, are nothing new. These investments protect the money you need for retirement. Traditionally, these instruments have held assets like cash, stocks, or bonds.
Gold individual retirement accounts first appeared on the investment scene in the late 1990s. Investors can select gold or other precious metals, such as silver, platinum, or palladium, to back the product using these self-directed IRAs. Real estate, cryptocurrency, and fine art are some of the assets available in other self-directed IRAs.
Similar to traditional precious metals IRAs, a gold IRA allows pre-tax contributions and tax-deferred revenue. The yearly contribution limits, income limits, and liquidation rules are the same for both regular and alternative precious metals IRAs.
These non-traditional routes to senior financial stability are usually a little more complicated than regular IRAs.
Gold and the other precious metals you choose need to meet the Internal Revenue Service’s exacting standards for fineness. IRS rules do not allow all gold products; only certain coins, bars, and bullion meet the IRS requirements. The IRS does not allow jewelry, even though it may hold significant value.
It is similar to buying gold without actually owning it because you need to store the precious metals that support your IRA in a special depository, and the IRS must approve these facilities. Your gold IRA might be disqualified if you use a storage facility that is not IRS-approved.
Essentially, you must choose a company that is prepared to handle these special precious metal IRA products. These gold IRA providers often tack on commissions, setup fees, and storage costs.
The benefit of a precious metals IRA is that it helps protect your assets against inflation and provides a way to diversify your retirement portfolio. A highly qualified gold IRA company can help you make the most of these alternative investments.
Why Should I Invest in a Gold IRA?
If you’re getting close to retirement, it might be a good idea to invest in one of the best gold IRA companies. By switching from risky investments (like stocks) to more stable assets (like gold), you’ll experience more peace of mind.
The fact that gold provides a hedge against inflation is the main reason why people choose to invest in this asset.
While the dollar’s value has decreased over time, gold prices have sometimes increased more than the dollar. The tax benefits are available if you buy precious metals through an IRA as opposed to buying gold directly.
Nevertheless, there are drawbacks to investing in a gold IRA. It costs more annually than many other options. Additionally, gold will not pay dividends and is often volatile in the short term.
Gold can help you diversify your investments and lower your risk, but it shouldn’t make up your entire portfolio. Experts recommend only keeping 5% – 15% of your portfolio in gold.
If you want to invest in precious metals, such as a gold IRA with more freedom and liquidity, you might want to consider a gold ETF instead. That gives you exposure to gold as an asset but can be purchased through a regular retirement account.
Should You Buy Gold Bullion or Gold Coins?
The precious metals you can choose for your gold IRA are subject to tight rules set by the Internal Revenue Service. Any gold must be 99.5% pure in order to be legal. Silver purity requirements are even stricter, calling for 99.9% purity.
Your gold IRA account representative will use their industry expertise to help you decide on the best gold IRA company in the market.
The American Eagle bullion coins from the U.S. Mint are popular among gold IRA investors. Other well-liked options that have IRS approval include Canadian Maple Leaf and Australian Koala bullion coins. However, according to the IRS, you cannot finance your precious metals IRA with German Marks, British Sovereigns, Swiss Francs, rare coins, or collectibles.
Should You Choose Coins or Bars?
Coins have a few benefits over bars. They are easier to sell and transport. Coins are cheaper to deliver since they’re lighter and don’t need as much security. These are also more difficult to counterfeit.
Can You Store IRA Gold at Home?
The IRS prohibits the self-storage of gold IRAs at home. Essentially, the only way to buy a gold IRA is through a custodian. The gold must be kept in a depository that has IRS approval.
If you really want to keep some gold at home, there are a couple of options.
You can take a payout from your gold IRA and have the gold shipped to your home. Rules will be in effect because this counts as a distribution. There will be tax penalties if you withdraw before the age of 59 1/2.
Alternatively, you can buy gold coins and bullion outside of an IRA and keep them at home. There will be no tax advantages, but there is no limit on the amount you can buy.
A custodian may choose a private depository that has the endorsement of a commodities exchange. The IRS must be convinced by a trustee that it will abide by all applicable accounting, security, reporting, and auditing standards if it is not a bank.
Any storage entity that is acceptable must have incredibly advanced security features, such as sensors that can detect sound, movement, and even minor vibrations. Modern timed locks that relock themselves will automatically increase security. Essentially, these facilities usually have close supervision.
In addition to top-level security, these storage facilities carry significant insurance policies of up to $1 billion.
Final Words - The Best Gold IRA Companies
With good reason, many consider gold to be a reliable long-term investment opportunity. In times of economic uncertainty and recession, gold can protect your wealth.
Also, it can be comforting to know that at least some of your retirement investments are assets you can see and touch instead of owning paper assets.
Your gold is safely kept in a vault when you invest with a gold IRA company. Plus, you can get tax advantages, as opposed to just buying gold and storing it at home.