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Retirement investors are increasingly turning to gold IRAs as an effective way to diversify and hedge their traditional IRA portfolios against market volatility and inflation. Gold has been known to provide a steady and secure form of growth compared to more volatile stock market movements, and is an accepted addition to IRAs according to the tax code. The majority of IRA investors typically opt to invest in stocks, bonds, or funds, while specialized IRA accounts offer the additional option to invest in precious metals such as gold or silver.
Establishing a Traditional IRA account is a relatively straightforward process that requires working with a custodian. When it comes to setting up and managing a gold IRA, however, the process may involve additional steps. Investors need to consider locating an accredited custodian as well as an approved depository and then arranging for the purchase and transfer of gold to the depository so that the custodian can assume responsibility. In order to ensure a successful process, it is essential to partner with a reliable and dependable gold IRA provider.
We thoroughly vetted 19 companies providing gold IRA services with the help of the Business Consumer Alliance (BCA). Our selection criteria included assessment of fees and cost transparency, availability of informational resources, customer service, as well as the procedure of setting up an account and acquiring precious metals. Below are the best gold IRA companies in our five chosen categories.
The 5 Best Gold IRA Companies of 2023
- Best Overall: Augusta Precious Metals
- Best customer support: Goldco Precious Metals
- Best for small investors: Noble Gold
- Best gold IRA company for rollovers: Regal Assets
- Best for beginner first-time buyers: Advantage Gold
There are plenty of options when it comes to investing in gold through an IRA. Of these, we’ve selected Augusta Precious Metals as the best overall, thanks to its extensive product range and knowledgeable team. Augusta Precious Metals offer transparent pricing, proving a suitable option for cost-effective investments. Goldco Precious Metals provides unparalleled customer service, making them the ideal choice for a satisfying experience. For those looking for more cost-effective IRA investments, Noble Gold provides smaller investors with a positive solution. Regal Assets has been recognized for its effectiveness in IRA rollovers, and Advantage Gold is ideal for first-time buyers.
1. Augusta Precious Metals
Augusta Precious Metals stands out for its excellent customer service, impressive track record, and consistency when it comes to transparent pricing. Customers can rest assured knowing exactly how much they are paying and for what, all while enjoying low-cost benefits. It is for these reasons that Augusta Precious Metals is considered to be the best overall gold IRA company.
Pros & Cons
- Affordable, transparent fee structure
- Money-back guarantee ensures your satisfaction
- Guarantee fair prices on all purchases
- No access to platinum or palladium investments
- There is no set minimum investment requirement
- Does not allow online purchases.
Why we chose it
When assessing gold IRA companies, pricing is a key factor. Many firms may state that they offer a low-cost fee structure; however, they can be reluctant to disclose all of their costs. In contrast, Augusta Precious Metals has a totally transparent fee structure and pricing model, making it our preferred gold IRA company with regard to transparency in pricing.
Founded in 2012, Augusta has firmly established itself as a business that operates with maximum transparency and reliability. Widely recognized for its quality standards, Augusta is rated highly by the Business Consumer Alliance. Furthermore, Augusta’s customers can trust in a 100% money-back guarantee for new customers and seven-day price protection to ensure fair rates. For information regarding set-up, storage, annual and other fees, customers must contact the company directly. Additionally, Augusta offers an impressive buy-back program.
Augusta provides exemplary customer service, as reflected in its high ratings, and works in partnership with the prestigious Delaware Depository for customer storage needs, with vaults located throughout the United States. As the account is self-directed, no management fees are incurred. The onboarding and transaction processes are streamlined, with specialists available to help customers with the corresponding paperwork. It is worth noting, however, that online purchases cannot be made.
Augusta is a great option for customers who want to invest in gold or silver bullion and coins, as it offers a transparent pricing plan and viable IRA rollover solution. However, Augusta offers a limited range of metals and requires a substantial minimum investment for a gold IRA, meaning customers looking for platinum or palladium investments will need to look elsewhere.
2. Goldco Precious Metals
Best customer support
Goldco Precious Metals puts in the extra effort to provide potential and existing customers with the necessary information to make an informed decision, making it our preferred gold IRA company for unparalleled customer service.
Pros & Cons
- Comprehensive educational resources
- Competitive rates
- 10% back in free silver coins for new customers who create an account
- A minimum amount of investment is required
Why we chose it
Founded in 2006, Goldco Precious Metals has achieved a remarkable level of success and has established a track record of delivering exemplary customer service. In comparison to the competition, the company stands out by providing organized, objective investment information to its customers to foster trust and confidence.
Goldco offers its customers top-notch service from account setup through their most recent transactions. Customers are personally taken care of by a specialist to help them navigate every step of their journey. Furthermore, Goldco provides an extensive education center on its website with various digital books and videos and a comprehensive blog addressing various investment topics. Customers are encouraged to take advantage of the resources.
Goldco’s dedication to its customers has resulted in outstanding reviews from Consumer Affairs and Trustpilot.
To find out more about fees, account minimums, custodians, and storage that Goldco has to offer, contact them directly. If you sign up with your name, email, and phone number, you will receive a free guide. Setting up an account is effortless due to available online resources. Goldco services also include IRA and 401(k) rollovers, so you can transfer any existing retirement funds.
3. Noble Gold
Best for small investors
Noble Gold is an excellent choice for smaller investors due to its low minimum investment requirement and comprehensive educational resources.
Pros & Cons
- Comprehensive educational resources
- A flat fee for storage and service
- Low minimum investment
- The proportion of annual fees relative to low account balances can be quite substantial
Why we chose it
Noble Gold, founded in 2016, is a relatively new addition to the gold IRA sector. Nevertheless, its low investment requirement and comprehensive educational resources have quickly made it a favored option for new investors looking for the best gold IRA company.
Over the course of its comparatively brief existence, Noble Gold’s services have been well-received by consumer rating bodies – evidenced by their five-star accolade from Consumer Affairs and BB evaluation from the BCA (based on a single complaint which was responded to effectively in the last three years).
Noble Gold offers an extensive array of educational resources and provides each potential customer with an introductory consultation to comprehend their individual needs, tastes, and goals. After that, clients are connected with a reliable advisor who educates and guides them through the process without using persuasion-based sales techniques.
Noble Gold fees are competitive, though not the lowest, and as an advantage to new customers, there is no setup fee charged. All accounts, however, incur an $80 annual service fee, plus a flat fee of $150 for segregated storage annually. It is important to note that no commingled storage options are available.
Due to Noble Gold’s vast network of suppliers and partners, customers are provided with highly competitive pricing on gold purchases. Furthermore, Noble Gold offers a “no-questions-asked” buy-back commitment.
Noble Gold entrusts Equity International as its custodian. All account data can be accessed through their website. To ensure maximum security and protection, Noble Gold utilizes the services of International Depository Services (IDS) for storage. IDS possesses three premium security facilities – two in the U.S. and another in Canada. Furthermore, the IDS warehouses are covered by an insurance policy issued by Lloyd’s of London.
Prospective customers can take as long as they’d like on Noble Gold’s website to discover educational materials and acquire the necessary information prior to reaching out to a representative to open an account. Although the initial stages of creating an account can be accomplished online, a representative will be required to complete the process.
4. Regal Assets
Best for IRA rollovers
Due to the intricate nature of IRA rollovers, special expertise is required to avoid mistakes. Regal Assets has established itself as an excellent choice in this aspect, as the majority of its business consists of IRA rollovers. Regal Assets is uniquely suited to ensure all necessary steps are taken to avoid mistakes, which is why they have earned a spot on our list of the best gold IRA company for IRA rollovers.
Pros & Cons
- Impressive IRA rollover track record
- Annual service fees and storage charges are billed at a flat rate.
- No charges for IRA rollover or transfer
- It is not possible to make online purchases.
Why we chose it
Since its inception in 2010, Regal Assets has established itself as a premier gold IRA company by earning top consumer ratings and offering competitive pricing. Thus, it is no surprise that Regal Assets has earned distinction as the best gold IRA company for IRA rollovers, as the majority of their business is based on IRA rollovers. Regal Assets excels in this area due to its extensive expertise and remarkable customer service. Even more impressive, the company now boasts no fees for their transfer and rollover services.
Regal does not have a rating from Consumer Affairs; however, it has achieved an AAA rating from the Business Consumer Alliance, and there are numerous positive reviews posted on plenty of other third-party review websites.
Regal offers a transparent and clearly outlined fee structure, with a flat annual rate of $250 for service and storage, inclusive of segregated storage costs, which are generally lower than comparable firms. No further fees are included. Please note that a minimum investment may be applicable. Contact the company to learn more should you consider investing with them.
Regal stands out in its delivery of customer support. With an extensive selection of educational resources to draw upon, Regal’s IRA professionals provide customers with assistance from the outset of their application all the way till the end of the whole process.
5. Advantage Gold
Best for first-time buyers
Advantage Gold is a standout choice for first-time gold IRA buyers due to its low minimum investment requirement, cost-effective fee structure, and vast educational resources.
Pros & Cons
- Comprehensive educational resources
- Low annual fees
- Operating for a relatively short period of time
- Not possible to make online purchases.
Why we chose it
Advantage Gold has been a prominent player in the gold IRA market space since 2014, garnering a reputation for being the premier provider for first-time buyers. This has been achieved through its low minimum investment requirement, client-centric approach, and extensive educational resources.
Since its establishment in 2014, Advantage Gold has been working hard to build a strong reputation by offering outstanding customer service. In the past three years, the company has achieved excellent ratings from the BCA (AAA) without a single complaint, surpassing expectations. While the company is still a fairly new entrant in the industry, its management team and highly qualified personnel bring a diverse wealth of experience that makes up for its relative lack of time in the sector.
Advantage Gold caters to all types of gold IRA investors, but it has a special appeal for first-time investors. Thanks to their comprehensive resources and educational materials, new buyers to the gold and precious metals market are able to make their initial investments with confidence. Furthermore, customers are not subject to any aggressive sales tactics at any point.
Advantage Gold is considered to be a very attractive option for new investors due to its welcoming fees and minimum account balances. Additionally, the company is known for its generous market repurchase program–offering customers a rate that is above what some of its competitors can provide.
For the convenience and safety of its customers, Advantage Gold utilizes STRATA Trust Company as its custodian. To ensure the utmost security of its client’s assets, Advantage Gold works with two highly reputable vault companies, Brink’s Global Services USA, Inc. and Delaware Depository.
Diversifying your portfolio to include gold is an important step in your retirement plan. In order to choose the best gold IRA company for you, it is necessary to evaluate a selection of options. Augusta Precious Metals is our trusted recommendation as it has an impressive track record in enabling investors to access gold IRAs and is a direct dealer, consequently eliminating fees typically charged for access to certain precious metals. Since your needs and retirement objectives are unique, it is essential to carefully review our full list and select the gold IRA company that best suits your goals.
What is a Gold IRA?
A gold IRA is an individual retirement account specifically designed to hold physical precious metals such as gold. The taxes associated with the account remain the same as a traditional IRA, with pre-tax contributions and tax-deferred earnings accumulating over time. While traditional IRAs offer paper investments like stocks, bonds, funds, ETFs, and cash equivalents, gold IRAs are strictly limited to holding physical gold and other approved metals. The gold is then securely stored in a depositary and not held directly by the investor.
Obtaining a gold IRA is a simple procedure. To start, you need to team up with a gold IRA firm that can roll over some of your 401k into precious metals.
What is the best gold IRA company?
The best gold IRA company is Augusta Precious Metals. The company has established a legacy of helping investors safeguard their economic future with gold IRAs, consistently receiving favorable ratings from consumer groups. In addition to providing outstanding customer service and low-cost pricing, making it our choice for the best overall gold IRA company of 2023.
What does a gold IRA cost?
Typically, there are three types of fees associated with a gold IRA. An account setup fee of $50 to $150 may be incurred, although this fee may be waived with a substantial initial deposit. An annual administrative or custodial fee of $50 to $150 is also likely, depending on the fund size. Furthermore, the depository may require storage fees ranging from $50 to $300 per annum, based on the amount of gold being stored.
Most gold IRA companies do not charge any commission for buying or selling gold. Nevertheless, several add a “markup” on the spot price, essentially a fee for their administration of the transaction. Some companies openly reveal their markup, but others do not. Companies that buy directly can potentially cut out the middleman, thus reducing their markup.
Is a gold-backed IRA a good investment?
Gold-backed IRAs have proven over the years to be good investments due to their steady and stable growth. An increasing amount of retirement investors are exploring gold IRAs as a way to diversify and protect their traditional IRA portfolios from the instability of the stock market and price inflation. The enduring and consistent growth of gold has demonstrated it to be a sound alternative to traditional investments.
How much should you invest in a gold IRA?
If you are considering investing in a precious metals IRA, it should be done with prudence. Generally, financial advisors recommend that no more than 5-10% of your retirement savings be allocated to this asset class. This measure is taken to minimize potential risk, as a portfolio composed of only one asset is traditionally considered financially unstable.
Furthermore, while investing in precious metals can be a great strategy to preserve the value of your retirement portfolio, it is also wise to consider the fact that such investments may not provide the same kind of growth as other investments, such as stocks, particularly when factoring in income from reinvested dividends. Therefore, investors looking to maximize their retirement funds may shortchange themselves if their portfolio heavily consists of too many precious metals, such as gold.
Should I buy gold coins or gold bullion?
When making gold investments for an individual retirement account (IRA), investors have two options: sovereign coins or bullion bars. Although both are priced based on the current spot rate of gold per ounce, sovereign coins—such as the American Eagle or Canadian Maple Leaf—often trade at higher rates and are thus considered a safer option than bars. That said, bars of small sizes (1 oz) may be more difficult to resell and usually meet with higher markups, whereas larger bars are better suited for institutional investors who can benefit from bulk purchase discounts.
Ultimately, a gold IRA company that is committed to providing quality customer service is likely to offer fair prices when it comes to buying back either coins or bullion. However, there may be additional charges involved for bullion.
Where should I store my gold?
When investing in a gold IRA, investors are not allowed to store physical gold in their homes. A reputable gold IRA company will assist you with the setup of the IRA and the purchase of gold coins or bullion. The investor still needs to find a suitable custodian and a secure depository to house the gold. Most gold IRA companies will partner with a custodian, and either the company or the custodian will select a depository.
Trustworthy gold IRA companies will only work with qualified and reliable third-party storage entities or depositories. These companies have connections with multiple depositories situated all around the United States. Typically, the company deals with transportation and insurance expenses.
Before investing, it is paramount to ensure that the gold IRA company you are dealing with is correctly licensed, registered, and has the insurance and bonds to protect your investment.