Top Gold IRA Providers
- Great Ongoing Promotions
- Lowest price guarantee and no buy-back fees
- Up to $15,000 in FREE silver on qualified accounts
- No Fee for Life IRA
- Highly-rated with ConsumerAffairs
- No management fees
- Great Retailer
- A+ rating from the Better Business Bureau
- Over experience in Precious Metals IRAs
- Great Online Education
- Fees waived on transfers $50,000+
- $10,000 min. investment
- Great Service
- Fees waived with minimum IRA
- Personalized customer service and education
Our Experience Testing Gold IRA Companies
To provide the most authentic buying guide for gold IRAs, the Retirement Living research team spent several days contacting gold IRA companies to learn about the investment process and product details. When available, we asked companies for starter kits we could analyze. We had to offer our name, email address, and phone number to receive a digital copy of a starter kit, but our requests were granted quickly.
For instances where companies did not offer an informational kit, we used the live chat feature. Each company asked for a name, email, and phone number to enter a live chat, but we found all company representatives very responsive and knowledgeable, answering all of our questions in full.
What Gold IRA Customers Say About Their Experience
To learn how customers rate their experience with gold IRA companies, we analyzed three years’ worth of customer reviews of gold IRA companies on our site. Are customers who invested in gold happy with their experience? According to the 195 reviews posted on Retirement Living, customers who have invested with the gold IRA companies on this list have an average satisfaction rating of 4.4 stars.
And while price does factor into customer satisfaction, other aspects like customer service, responsiveness, and investor education are referenced more frequently than we expected. In fact, 43% of reviewers mention a representative or account manager by name when detailing their experience (good and bad) with the company.
Key takeaways from our review analysis of gold IRA companies on Retirement Living include:
- Over 90% of gold IRA customer reviews are 4 stars or higher.
- Reviewers who mention communication are more likely to rate their experience as positive.
- Overall, the majority of customers are satisfied with the customer service they received throughout the investment process, such as one Orion Metal Exchange reviewer who said their experience was easier than expected. “I expected it to be more complex, but my rep helped me all the way through and was very knowledgeable on investing. They keep following up with me, which I didn’t expect but found very helpful.”
Only 9.5% of gold IRA customer reviews were less than 4 stars. Of the reviews that skewed negatively:
- 85% reference high premiums compared to the spot price (market value) of the coins and steep fees that limit investment potential, such as one California reviewer who claimed the fees were higher than expected.
- 65% mention high-pressure sales tactics and a lack of consumer education before making an investment decision.
- 15% mention issues contacting customer service and delays in account maintenance requests.
Nearly all reviews on our site reference feeling nervous and worried about making large investments that can affect their retirement savings—though our data suggests that some companies are better than others at putting customers at ease.
We think gold IRA companies can improve their reputation by delivering high-touch, personalized service to all customers and committing to educating investors about fees, risk, and whether investing in alternative assets is right for their particular situation.
Frequently Asked Questions about Gold IRAs
Here are answers to the most commonly asked questions regarding gold and precious metals IRAs. Review them to understand how an account can be started to help you build wealth in retirement.
What is a gold IRA?
A gold IRA is like a typical IRA (Individual Retirement Account), except the assets are physical gold bars, coins, or other precious metal pieces. A typical IRA deals in paper assets, and a gold IRA is funded by gold.
What do gold IRA companies do?
Gold IRA companies open and operate self-directed IRAs like gold IRAs. A reputable gold IRA company can assist you with purchasing, storing, and selling your gold investments, as well as rolling over traditional IRAs, 401(k)’s, and eligible retirement fund account assets to a gold IRA account. While these custodians are not as widely available, some popular gold IRA companies include Orion Metal Exchange, Lear Capital, and Goldco, among others.
How do I sell my gold IRA?
If you want to cash in on your funds once the account matures, you can withdraw the assets and have the metals sent directly to you to either sell or store yourself. Alternatively, you can leverage the company’s buy-back program and allow the custodian to take back possession of the metals and do what you want with the funds. Some investors might opt to get a cash distribution, buy a different asset, or transfer funds to a different account. Most gold IRA companies have a buy-back option, but the terms differ. Be sure to confirm your rights before investing.
Are gold IRAs safe?
Any investment carries risk, and gold IRAs are not a sure thing. You must carefully weigh the pros and cons of investing in physical bullion. If you feel that investing in gold is a worthwhile and manageable risk, a gold IRA can provide a tax-efficient means to invest.
Do gold IRAs only handle gold?
Gold IRAs are also called “precious metal IRAs” because they can hold silver, platinum, or palladium investments. These metals can be in bar or coin form as long as the assets meet purity standards and other requirements set by the IRS.
Can I do a gold IRA rollover?
Yes, though rollovers have specific rules, and not everyone is eligible. Talk with a gold representative to see if you can initiate a rollover. Many investors fund a gold IRA with funds from a 401(k) or traditional IRA. All gold IRA rollovers must follow the same tax rules for funds rolled into a traditional or Roth IRA. Some choose to roll over just a portion of their IRA or 401(k) to a gold IRA as a way to diversify their nest egg.
Is it better to buy gold bars or coins?
You can choose to purchase bars and certain coins for your IRA. They’re both valued per ounce based on the price of gold, but some believe coins are the safer choice. This is because coins are easier to transfer (sell back), sold at higher premiums, and not as easily counterfeited. Some of the most common coins include:
– American Eagle gold coin
– American Eagle silver coin
– American Eagle platinum coin
– Maple Leaf palladium coin
No matter what you choose to purchase, make sure you work with a reputable gold IRA company with a competitive buy-back policy. However, premiums are higher for coins.
What are the tax benefits of Gold IRAs?
One of the key advantages of Gold IRAs is their tax benefits. Depending on the type of account, you may enjoy tax-free growth or tax-deferred contributions, which can maximize your long-term investment returns. A trusted financial advisor can help you navigate these advantages and align them with your overall retirement strategy.