7 Best Gold IRA Companies 2023 (Ranked by customer reviews)

If you want to diversify your financial portfolio, gold IRAs are a low-risk investment option that is very profitable for many investors. Our team combed through pages of reviews of the top gold IRA companies to find the best ones to invest in during 2023.

Gold individual retirement accounts (IRAs) are a type of self-directed IRA account that allow investors to put their retirement in reliable, tangible precious metals and valuables.

Gold IRA companies help investors source qualifying goods, find secure, compliant storage and manage account rollover.

Of the many gold IRA companies, these seven are the most reputable, trustworthy options for investors in the coming year.

Top 7 Best Gold IRA Companies

1. Augusta Precious Metals – Editors’ choice
2. Goldco – Best pricing
3. Noble Gold Investments – Best for beginners
4. Birch Gold Group – Best fee structure
5. American Hartford Gold – Best customer support
6. Advantage Gold – Best for first-time buyers
7. Oxford Gold Group – Best customer experience

Methodology

When deciding which gold IRA companies to recommend, we looked primarily at the following criteria:

• Better business bureau (BBB) rating: We only considered companies with BBB ratings of A+.
• Verified third-party reviews: To avoid bias, we looked at reviews from companies such as TrustPilot and other third-party sites, not just reviews from the company’s website.
• Promotions: We looked for the best investment opportunities for new account holders and beginners. These should have promotions and extra support for those investing in gold for the first time.
• Years in business: Low-quality companies will not last long in a competitive market. We looked for reliable companies that have years of expertise and practice.
• Customer reviews: We chose companies that had a large number of positive reviews from customers, not those with just a handful of comments.
• Leadership: We looked for companies headed by experienced, passionate leadership. A company is only as good as those who head it, so we wanted to ensure we only included companies with trusted, reputable leaders.

Gold IRA Reviews

After looking through countless companies, reviews and fee structures, these are the best gold IRA companies to invest in during the 2023 fiscal year. These companies meet and exceed the criteria laid out in our methodology and have many five-star, reliable customer reviews.

Augusta Precious Metals – Editors’ Choice

Augusta Precious Metals is a family-owned business that was founded in 2012. The company is committed to transparency, simplicity and excellent service. In addition to an A+ rating from the BBB, the Business Consumer Alliance rated Augusta Precious Metals at an AAA.

Company Highlights

• Location: Beverly Hills, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver
• BBB Rating: A+ Rating
• Fees: $180/year
• Investment Minimum: $50,000
• Promotion: Fees waives (depending on investment amount)

Why we chose Augusta: We chose Augusta Precious Metals for its outstanding customer support, solid reputation and strong business leadership.

Goldco – Best Pricing

Goldco was founded in 2011 and has since handed more than $1 billion in gold and silver investments. The company works with most major IRA custodians and supports gold and silver investments.

Goldco has one of the industry’s lowest account set-up fees, with a one-time account setup fee of just $50. Additionally, its storage fees start at just $100.

Company Highlights

• Location: Calabasas, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver
• BBB Rating: A+
• Fees: $175-$225/year
• Investment Minimum: $25,000
• Promotion: 5% off of a purchase of more than $50,000 more

Why we chose Goldco: We chose Goldco for its top-tier customer service, low fees and excellent buyback program.

Noble Gold Investments – Best for Beginners

Colin Plume founded Noble Gold Investments in 2016. The company is committed to ensuring that every investor understands every aspect of their investment. Noble Gold has an annual service fee of $80 and a $150 annual storage fee.

Noble Gold also offers an investment minimum that is low enough that you will not need to roll over another investment portfolio to open an account. If you want to invest in a gold IRA, but don’t have another account you can use for financing, Noble Gold is likely your best option.

Company Highlights

• Location: Encino, California
• Services: gold IRA, silver IRA, Royal Survival Packs, physical gold and silver
• Available Metals: gold, silver, platinum, palladium, rare coins
• BBB Rating: A+
• Fees: $225/year
• Investment Minimum: $2,000
• Promotion: Buyback of metals guarantee

Why we chose Noble Gold: The low investment minimum on their accounts, commitment to education and secure investment make Noble Gold a perfect choice for anyone new to gold IRAs.

Birch Gold Group – Best Fee Structure

Birch Gold Group is one of the largest precious metal dealers in the U.S. It was founded in 2003 and has nearly two decades of experience dealing with precious metals investments.

Birch Gold Group will cover your first year’s fees if you have an initial investment of more than $50,000. After that, you will pay an annual $100 storage fee and $80 management fee. Birch Gold Group has one of the lowest account opening fees of just $50.

Company Highlights

• Location: Burbank, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver, platinum, palladium
• BBB Rating: A+
• Fees: $180/year
• Investment Minimum: $10,000
• Promotion: First-year fees waived (for accounts with over $50,000)

Why we chose Birch Gold: Birch Gold Group allows for extra diversification because it offers gold, silver and platinum accounts. Additionally, it will waive its already below-average fees if you invest more than $50k.

American Hartford Gold – Best Customer Support

Since 2015, American Hartford Gold’s transparent pricing structure and low minimums have helped it serve thousands of investors across the U.S.

Leadership at American Hartford Gold is committed to fair pricing and quality service. The company has some of the lowest management fees in the industry and some of the highest-quality service.

American Hartford Gold also has a low minimum investment. This low minimum allows investors to open an account without rolling over from another investment account.

Company Highlights

• Location: Los Angeles, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver
• BBB Rating: A+
• Fees: $150/year
• Investment Minimum: $10,000
• Promotion: Receive up to $10,000 in free silver (with qualifying purchase)

Why we chose American Hartford Gold: American Hartford Gold has high-quality customer service. This, combined with its price match guarantee and buyback offer, demonstrates the company’s commitment to its values.

Advantage Gold – Best for First-time Buyers

Kirill Zagalsky and Adam Baratta worked at another gold investment company before leaving because they knew they could create a company that better-honored investors, so they left their previous organization to create Advantage Gold.

Advantage Gold provides customers with the information they need to make the right choices for their retirement portfolios. Advantage Gold offers customers extra flexibility by hosting investments in all four significant precious metal investments.

Company Highlights

• Location: Los Angeles, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver, platinum, palladium
• BBB Rating: A+
• Fees: $225/year
• Investment Minimum: $25,000
• Promotion: First-year fees are waived with a $50,000 purchase

Why we chose Advantage Gold: High-quality educational materials, various investment options and strong expertise make Advantage Gold one of the best options for beginners.

Oxford Gold Group – Best Customer Experience

Since 2017, Oxford Gold Group has committed to increasing the accessibility of precious metals investing. It knows that the wealthiest investors have historically been privy to the highest-quality investments, and the company is committed to changing this.

Oxford Gold Group has held to this claim. It has one of the lowest minimum investments of any gold IRA investment company. Scaling fees to investments makes for a high-quality customer experience with Oxford Gold Group.

The company also offers investments in all four primary precious metals, giving customers extra flexibility.

Company Highlights

• Location: Beverly Hills, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver, platinum, palladium
• BBB Rating: A+
• Fees: $175-$225/year
• Investment Minimum: $7,500
• Promotion: N/A

Why we chose Oxford Gold: Oxford Gold Group allows investors to look at their portfolios online. It also has a relatively low minimum investment and offers a diverse array of precious metal options.

Gold IRA Guide

Gold IRAs are a type of self-directed IRA that allow investors to diversify their retirement portfolio to include traded valuables, real estate, precious metals and more. These accounts are one of the only retirement account types that do not limit investors to paper assets.

Gold IRAs follow all the same rules of self-directed IRAs, but have a few additional different rules. These include:

• Strict storage requirements for valuables.
• The account must be separate from other stocks and assets, such as a Roth IRA investment.
• Only approves certain types of precious metals, collectibles and other valuables, such as American Eagle coins.
• Investors must purchase gold and other valuables through a custodian; customers cannot add gold they already own to a gold IRA.

Understanding Gold IRAs

When you’re considering investing in a gold IRA, there are some things that you should know before you commit to a company.

Scam awareness – Many false companies operate investment scams. It’s essential to look for a reputable business with positive third-party reviews. Watch out for investments that advertise an at-home or home-storage IRA.

Home storage of valuables for a gold IRA is illegal. Any company advertising this service is not one that you should trust.

New gold IRA investments – Gold IRAs follow the same rules as other self-directed IRAs. Self-directed IRA rules mean that there are investment limits each year. For 2022, this number is $6k if you are under 50 and $7k if you are 50 or older.

Many gold IRA accounts require significant minimum investments, far above this yearly maximum investment limit, before you will have to pay a tax penalty. This means that, in most cases, you must use a rollover from a regular IRA to open a gold IRA.

Fees and payments – Gold IRA investments have higher fees than traditional stock market investment options. These fees come from sourcing IRS-approved coins, paying for secure storage that complies with IRS regulations and account setups.

Gold IRA Fees & Costs

• Account setup fees: Account set-up fees are generally one-time fees that you pay when you initiate your account. These fees are usually in the range of $50-$150.
• Custodial fees: Custodial fees (also known as administrative fees) are usually annual fees. Typically, these fees range from $50-$150.
• Storage fees: Storage fees are charged by the depository holding your valuables. These fees are usually $50-$300 annually.
• Spot price markup: The spot price is the market price when you agree to the purchase, and the markup covers the costs associated with obtaining the valuables. For most gold IRAs, the spot price is about 10% of the gold’s value, though this can often fluctuate, particularly if you purchase in bulk.

Gold IRA Storage Options

Investors must store precious metal IRAs in an IRS-approved option. You cannot keep your gold in your home or a safety deposit box. The IRS approves many third-party options for gold and precious metal storage.

Here are some of the most commonly used storage options:

• Brinks Global Services: Brinks Global Services offers high-quality, secure logistics, making them a popular storage option for many gold IRA investors.
• Delaware Depository Service Company: The Delaware Depository is a precious metals custody expert with over two decades of experience protecting and maintaining gold investments.
• International Depository Services: International Depository Services is an IRS-approved storage option for precious metals in a gold IRA. The company has virtually every accreditation available to a depository and has storage available in the U.S. and Canada.
• HSBC Bank: HSBC has more than 150 years of experience in the precious metals market and is one of the most reliable storage options for gold IRA investing.

There are two types of approved storage options:

• Segregated storage: With segregated storage, the storage management company will ensure that you receive precisely what you put in. For example, if you place three gold bars in storage, you could mark those gold bars to ensure you receive those same bars back.
• Co-mingled storage: In co-mingled storage, you will receive the exact number of valuables you put in, but you may not receive the exact metals. You may receive another identical piece of investment when you cash out.

Before you invest in a gold IRA, make sure you know which storage option you or your investment company will use.

IRA Eligible Gold Bullion Coins & Bars

The IRA has strict requirements for what is eligible for a gold IRA. These are the most commonly used IRA-approved bullion and coins.

Gold

• Gold American Eagles Coins
• American Gold Buffalo Coins
• Austrian Gold Philharmonic Coins
• Australian Gold Kangaroo Coins
• Canadian Gold Maple Leaf Coins
• Chinese Panda Coins
• Gold Bars Coins

Silver

Silver bullion and coins must have a minimum fineness of 0.999 to qualify for an IRA investment. These are some of the most common choices:

• American Silver Eagle Coins
• Chinese Panda Silver Coins
• Silver Britannia Coins
• Canadian Maple Leaf Coins
• Silver bars from the Royal Canadian Mint

Platinum

Platinum bullion must have a minimum fineness of 0.9995 to qualify as a gold IRA investment. Some of the most common choices for platinum investments are:

• American Eagle Platinum Coins
• Australian Koala Platinum Coins
• Canadian Platinum Maple Leaf Coins
• Isle of Man Platinum Coins

Palladium

Palladium bullion must have a minimum fineness of 0.9995 to qualify as a gold IRA investment. Some of the most common ways to add palladium to a gold IRA are using:

• Suisse Palladium Bars
• Palladium Canadian Maple Leaf Coins
• American Eagle Palladium Coins

How to Pick The Right Precious Metals IRA Company

When it comes to your retirement investments and savings for your future, you must choose the safest, most reliable options for your money. Here are a few things you can do to ensure you’re selecting the best choice.

• A gold IRA company should have several years in service with many reviews and a high rating from consumer protection agencies.
• Avoid any gold IRA companies that advertise at-home storage of gold, as they are likely to be scams.
• Look for transparent pricing and fee structures. You should know exactly how much you will pay before you agree to any investment.
• Compare your chosen investment company with others. Look for competitive pricing options to make the most of your investment.

How to Open a Gold IRA Account

When you decide that you’re ready to open a gold IRA account, you should follow these steps to protect your investment:

1. Choose your preferred precious metals dealer: The top gold IRA companies from this list are all excellent options, but which one you decide to use will depend on your finances and preferences.
2. Check their eligibility requirements and investment minimums: Many gold IRA providers have investment minimums. You will need at least this investment minimum in another account to roll over and hit this minimum.
3. Request their free guide: Highly reputable gold IRA companies should have plenty of educational resources available.
4. Speak to an IRA specialist: An IRA specialist will give you financial advice to help ensure that you are using an approved depository, qualifying metals and maximizing tax benefits.
5. Decide how you are going to invest (i.e., 401(k), IRA, cash): If you want to invest more than the annual maximum, you will need to choose which of your qualifying retirement accounts you wish to use to purchase your new investment.
6. Begin rollover process or fund your account: Unless you use a cash investment below the IRS maximum contribution limit, you will need to use money from another retirement account to roll over into your gold IRA.
7. Purchase precious metals: You may buy gold, silver, platinum or palladium for your investment portfolio.
8. Complete the transaction or rollover process: Your chosen gold IRA custodian will guide you through the finalization of your purchase.
9. Watch your investments grow tax-free: Over the last five years (as of 2022), gold has increased in value by more than 35%, far outperforming the S&P 500.

Which Gold IRA Company is Best for You?

Diversifying your portfolio by investing in gold and other precious metals is an ideal option as these items are less susceptible to volatility and market fluctuations, which makes them a solid investment for retirement savings. They are reliable investments for uncertain futures.

Gold has a stable value that is likely to continue to rise in the future but has decreased in price in the last two years.

You should ensure you understand the purchasing and liquidation process before finalizing your investment. By choosing a reputable gold IRA company with good customer reviews, you can ensure that your investment will provide you with financial stability during retirement.

Gold IRA Companies FAQs

These are the most commonly asked questions about gold IRA investment companies.

Frequently Asked Questions

How to Open a Precious Metal IRA

The first step in opening an Individual Retirement Account, (IRA), is to decide if it’s something you want. To open the account, complete Form 8606. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form must be submitted within 60 days of the account opening. You can then start investing once you have this completed. You might also be able to contribute directly from the paycheck through payroll deduction.

You must complete Form 8903 if you choose a Roth IRA. Otherwise, the process is identical to an ordinary IRA.

To qualify for a precious Metals IRA, there are specific requirements. You must be at least 18 years of age and have earned income to qualify for a precious metals IRA. You can’t earn more than $110,000 per annum ($220,000 in married filing jointly) for any given tax year. Additionally, you must make regular contributions. These rules apply regardless of whether you are contributing directly to your paychecks or through your employer.

You can use a precious-metals IRA to purchase gold, silver and palladium. But, you’ll only be able to purchase physical bullion. This means you won’t be able to trade stocks and bonds.

Your precious metals IRA may also be used to invest in precious-metal companies. This option is offered by some IRA providers.

However, investing in precious metals via an IRA has two serious drawbacks. First, they are not as liquid or as easy to sell as stocks and bonds. This makes it harder to sell them when needed. Second, they don’t produce dividends like stocks or bonds. Also, they don’t generate dividends like stocks and bonds. You will eventually lose money rather than make it.

What is the best precious metal to invest in?

This question depends on how risky you are willing to take, and what return you want. Although gold has been considered a safe investment, it is not always the most lucrative. Gold may not be right for you if you want quick profits. Silver is a better investment if you have patience and the time to do it.

If you don’t desire to become rich quickly, gold may be your best option. Silver might be a better investment option if steady returns are desired over a long period of time.

Can I have a gold ETF in a Roth IRA

While a 401k may not offer this option for you, it is worth considering other options, such an Individual Retirement Plan (IRA).

A traditional IRA allows contributions from both employee and employer. Another way to invest in publicly traded companies is through an Employee Stock Ownership Plan.

An ESOP provides tax advantages because employees share ownership of company stock and profits the business generates. The money invested in ESOPs is taxed at a lower rate that if it were owned directly by an employee.

An Individual Retirement Annuity (IRA) is also available. You can make regular payments to your IRA throughout your life, and you will also receive income when you retire. Contributions to IRAs will not be taxed

Should You Open a Precious Metal IRA?

Before opening an IRA, it is important to understand that precious metals aren’t covered by insurance. It is impossible to get back money if you lose your investment. This includes investments that have been damaged by fire, flooding, theft, and so on.

Investing in physical gold and silver coins is the best way to protect yourself from this type of loss. These items have been around for thousands of years and represent real value that cannot be lost. You would probably get more if you sold them today than you paid when they were first created.

When opening an IRA account, make sure you choose a reputable company offering competitive rates and high-quality products. You should also consider using a third party custodian to protect your assets and give you access at any time.

When you open an account, keep in mind that you won’t receive any returns until your retirement. Don’t forget the future!

Which precious metals are best to invest in retirement?

It is gold and silver that are the best precious metal investment. They are both simple to purchase and sell, and they have been around for a long time. You should add them to your portfolio if you are looking to diversify.

Gold: Gold is one of man’s oldest forms of currency. It’s also very safe and stable. It is a good way for wealth preservation during uncertain times.

Silver: The popularity of silver has always been a concern for investors. It’s an ideal choice for those who prefer to avoid volatility. Silver tends to move up, not down, unlike gold.

Platinum: A new form of precious metal, platinum is growing in popularity. It’s like silver or gold in that it is durable and resistant to corrosion. However, it’s much more expensive than either of its counterparts.

Rhodium: Rhodium can be used in catalytic convertors. It is also used as a jewelry material. And, it’s relatively cheap compared to other types of precious metals.

Palladium: Palladium is similar to platinum, but it’s less rare. It is also cheaper. This is why it has become a favourite among investors looking for precious metals.

How does a gold IRA work?

Individuals who want to invest with precious metals may use the Gold Ira accounts, which are tax-free.

You can purchase physical bullion gold coins at any point in time. You don’t have a retirement date to invest in gold.

An IRA allows you to keep your gold forever. Your gold holdings won’t be subject to taxes when you pass away.

Your heirs can inherit your gold and avoid capital gains taxes. Because your gold doesn’t belong to the estate, it’s not necessary to include it on your final estate plan.

To open a Gold IRA, you’ll need to first set up an Individual Retirement Account (IRA). Once you’ve done so, you’ll be given an IRA custodian. This company acts as a mediator between you, the IRS.

Your gold IRA custodian can handle all paperwork and submit necessary forms to IRS. This includes filing annual returns.

After you have created your gold IRA, the only thing you need to do is purchase gold bullion. Minimum deposit required is $1,000 The minimum deposit is $1,000. However, you will receive a higher percentage of interest if your deposit is greater.

You will pay taxes when you withdraw your gold from your IRA. You’ll have to pay income taxes and a 10% penalty if you withdraw the entire amount.

You may not be required to pay taxes if you take out only a small amount. However, there are exceptions. For example, taking out 30% or more of your total IRA assets, you’ll owe federal income taxes plus a 20 percent penalty.

It’s best not to take out more 50% of your total IRA investments each year. Otherwise, you’ll face steep financial consequences.

Statistics

• If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item’s value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
• Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
• Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
• Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
• If you take distributions before hitting 59.5, you’ll owe a 10% penalty on the amount withdrawn. (lendedu.com)

External Links

bbb.org

• BBB: Start with trust(r)
  

finance.yahoo.com

• Yahoo Finance – Barrick Gold Corporation Stock Price, News & Quote – Barrick Gold Corporation (GOLD).
  

law.cornell.edu

• 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
  
• 26 U.S. Code SS 408 – Individual retirement plans
  

cftc.gov

• Fraud Advisory: Precious Metals Fraud | CFTC
  

How To

A rising trend in gold IRAs

As investors seek to diversify their portfolios while protecting themselves from inflation, the trend towards gold IRAs is on the rise.

Owners can invest in gold bars and bullion with the gold IRA. It is tax-free and can be used by investors who aren’t concerned about stocks and bond.

Investors can manage their assets with a gold IRA without worrying about market volatility. Investors can protect themselves from inflation and other possible problems by using the gold IRA.

Investors also benefit from physical gold’s unique properties, such as durability and portability.

The gold IRA also offers many other benefits, such as the ability to quickly transfer the ownership of the gold to heirs, and the fact the IRS doesn’t consider gold a currency.

Investors who seek financial stability and a safe haven are finding the gold IRA increasingly attractive.

—————————————————————————————————————————————————————————————–
By: Donny Gamble
Title: 7 Best Gold IRA Companies 2023 (Ranked by customer reviews)
Sourced From: retirementinvestments.com/precious-metals/gold-ira-companies/
Published Date: Mon, 02 Jan 2023 08:22:00 +0000

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