Best gold IRA custodians of 2022: Comparison, fees
Disclaimer: We may receive a referral fee from some of the companies featured in this article. This article does not constitute financial advice. Refer to a professional for financial advice, and only invest what you can afford to lose.
With increasing economic instability, more and more investors are resorting to precious metals to secure their investments. However, for a hassle-free transition to precious metals, you must partner with the Best Gold IRA custodians.
To help with that, in this article we will be reviewing the leading gold IRA firms that are all about customer satisfaction and quality service.
Top 4 gold IRA custodians at a glance
Augusta Precious Metals: Best Gold IRA Company OverallAmerican Hartford Gold: Runner UpBirch Gold: Top Choice For BeginnersGoldco: Great Minimal Prices
#1 Augusta Precious Metals – Best gold IRA company overall
Augusta Precious Metals is among the top gold IRA providers in the precious metal industry. There’s zero doubt when the company is in question, as evident by an absolute error-free reputation on the internet and zero registered complaints on Better Business Bureau and Business consumer alliance. The company offers competitive pricing. It also provides lifetime support for its custodian’s accounts.
In addition to the support, Augusta Precious Metals invites its gold IRA custodians to one-on-one online conferences to educate them on investing in an IRA and precious metals before investing in the company. With rampant inflation, many rising retirees are extremely cautious while choosing their retirement savings and financing options. Some retirees are trying to transition from traditional accounts to precious metal accounts due to the unreliable and insufficient financial security the traditional accounts offer.
If you are one of such retirees, a hassle-free transition from conventional to precious metal accounts is what you must choose for yourself, and Augusta makes sure it is of assistance in the matter. Alongside incredible reputation and attractive pricing, one of the main reasons to select Augusta is the assistance for transition the firm provides to its investors. This unique selling point causes people to choose Augusta over its competitors.
Another attraction the firm offers is its association with Joe Montana, a multi-millionaire and Augusta’s loyal customer. Many people consider it an excellent proposition to get advice from the same advisors as the millionaires. Augusta offers numerous tax benefits for gold IRA custodians, as permitted by the IRS. At Augusta, you must get administered through a custodian, and your storage must be secured at a safe facility.
On the company’s website, you can find features like the map, which virtually shows where the firm’s storage facilities are. Through this feature, investors can choose their own location according to their convenience. Augusta not just helps you complete 95% of your paperwork. Still, its relationship with several trusted custodians is more than enough to give you a boost when you plan to open a gold IRA with Augusta.
Pros:
Service Type: Precious Metal IRAsAnnual Fees worth $180 (custodial and storage expenses + no additional management fees)No complaints have been registered with the BBB or BCA since the company’s start.Outstanding image and world-class serviceA streamlined, open, and instructive procedure with low cost (up to ten years of fees waived)A distinctive no-pressure web conference delivered on a one-on-one basis for free, devised by a Harvard economist – a company employee.Augusta’s pricing system is quite transparent.The firm also provides fee-free custodial services and storage for up to ten years.Selected by Joe Montana’s advisors after an extensive research of the top goldIRAfirmsGold or silver Canadian Maple Leafs, Silver or gold American eagle proof coins, Canadian Silver Eagles with Nest, Silver or gold American eagle, Gold American Buffalos, Canadian Silver SoaringEagles, and Australian Striped Marlins are just a few of the quality coins available via Augusta.No sales pressure methods, which means no tricks or bullying.
Cons:
Augusta’s high starting requirement of $50,000, in contrast to competitorsLack of online setup
#2 American Hartford Gold – Runner up
Individuals and families can use American Hartford Gold to invest in gold bullion. They provide gold, silver, platinum bars, coins, and other precious metals. Other assets available for purchase are the American eagle, Canadian Buffalo, Australian Wildlife, and South African Krugerrand coins. When you buy assets, you may have them supplied to your house or deposited into a retirement account like an IRA, 401K, or TSP. With its extensive process and qualified professionals, American Hartford Gold would be an excellent place to start if you’re unfamiliar with gold and metal investment.
Furthermore, while selecting American Hartford Gold, you do not have to liquidate. The company’s strong ratings are its main selling feature. American Hartford Gold was voted the number one gold firm on the prestigious Inc. 5000 ranking of America’s quick private enterprises. Furthermore, American Hartford Gold has near-perfect consumer satisfaction ratings on the Better Business Bureau, Google, Trustpilot, on other third-party review sites.
At American Hartford Gold, the minimum rollover is $1500. The custodian charges the firm an annual custodian fee of $150. Silver giveaways and free safekeeping for up to 3 years are available to investors. While looking for a safe and accessible Gold IRA company, you must consider American Hartford Gold.
Pros:
Skilled staff on hand to advise and coach investors at all timesThe consumer receives freebies worth $1,500 in silverThe company provides free storage for three years to all investorsThe minimum rollover amount is $1,500.The annual custodian cost is $150. This fee goes to the custodian.When purchasing or selling precious metals, the firm guarantees a price match.They provide gold, silver, platinum bars, coins, and other precious metals.American Hartford Gold was designated the number one gold firm on the prestigious Inc. 5000 ranking of America’s top rampant private enterprises.Other assets, such as the American eagle, Canadian Buffalo, Australian Wildlife, and South African Krugerrand coins, can also be acquired.When you buy assets, you may have them brought to your house or deposited into a retirement account like an IRA, 401K, or TSP.When you choose American Hartford Gold, there is no need to liquidate.They have near-perfect customer satisfaction ratings on BBB, BCA, Google, and other third-party review websites.
Cons:
No yearly pricing is shown on their website, making it confusing for the clients.It does not ship to locations besides the United StatesThere is a lengthy procedureUsually, transactions take up to 3-5 days, so the wait is long.
#3 Birch Gold – Top choice for beginners
Birch Gold company has been ranked among the top firms which provides the facilities of IRA accounts. Not just investment-wise but also in the physical purchases people have made from the firm in the past. The unique selling point for Birch Gold has to be its highly cost-efficient minimum requirement option that makes the firm accessible to everyone.
Some features of the firm that investors significantly enjoy include its long-term experience in the industry (70 years), its services of offering several physical products, polite and well-trained customer service representatives, minimal fee structures, and top-notch consumer feedback and reviews.
The firm has been known to establish IRA precious metal accounts since 2003. Birch gold deals in silver, gold, palladium, and platinum. Birch emphasizes assisting clients in their rollovers into 401(k) s, IRAs, and other retirement accounts. Rollover is termed a self-directed precious metal IRA.
Investing in Birch Gold allows you to invest in 4 different metals such as rounds, bars, and coins. This feature makes the brand more diversified in its offerings of precious metals compared to other competitors in the IRA industry. You can view customers raving about their experience with the firm by scrolling the internet.
Customers regard Birch Gold’s customer service, educational support, ease of investment options, and communication as among the firm’s top benefits. The company is highly rated by organizations that monitor businesses – like Business Consumer Alliance and Better Business Bureau.
Pros:
Focus on communication and educationOutstanding customer serviceProvides silver, gold, palladium, and platinum.Advertises continuous special deals for all clients purchasing gold for the first time.The custodian, with whom the firm sets up many of its clients, charges the following costs: $50 startup fees, $80 maintenance costs, and $100 storage fees.Free shipping is available for cash orders of $10,000 or more.Qualifying purchases are eligible for a total of $10,000 in free metal.Birch maintains the most exceptional quality standards and meets IRS criteria fully.BBB has AAA ratingsBirch Gold provides a free informational bundle with relevant facts and data.Gold, silver, and platinum are popular investments.Other investments include platinum American eagle coins, gold, silver, platinum Canadian maple leaves, American gold buffalo coins, and Australian kangaroo nugget coins.Their skilled team can help you with precious metal plus IRA registration, rollovers, financing, and other tasks to keep the process simple.Birch Gold connects you with a precious metals specialist from the start, and unlike other companies, they vow never to sell customer information to third parties for profit.
Cons:
Sign-up is only possible through a particular linkCertain expenses are not disclosed upfrontThere is no assurance of buyback
#4 Goldco – great minimal prices
Goldco has been considered the leading choice for gold and precious metal providers for more than fifteen years in the Gold IRA industry. Investing with Goldco is hassle-free as their well-trained, polite customer service representatives guide you through every step. Apart from the customer service at Goldco, you can also deal with and buy physical products, which come at extremely efficient prices and fees. The firm enjoys excellent feedback from all its customers.
As the dollar cost is declining, giving rise to inflation, numerous contributors are looking for easy options to safeguard their retirement wealth. There is no better option if you are a newbie. The firm’s services include silver and gold IRA, easy transitions from traditional accounts, possible rollovers for 401(k) accounts, and the buyback facility of any gold coin, bar, or bullion purchased through Goldco, all at market competitive prices and guarantees.
The firm also allows sales of precious metals in non-IRA types. The buyback options are completely transparent at the firm. Moreover, there are no compulsions to sell your assets back to the firm at retirement. Goldco offers direct and self-directed investment options, which its customers highly admire.
Pros:
A professional customer care service with email and text support is available.Goldco specialist provides personalized suggestions so you can make a better investment decision for your specific scenario.Goldco charges lower fees than other competitors.New customers may benefit from special offers to assist them secure retirement assets.Educational materials are provided to both current and prospective customers.Precious metals not included in an IRA can be kept for free.The firm’s history is entirely transparent.Precious metal services available are: Gold American Eagle (type 1 and 2), Gold American Eagle Proof, Gold Liberty coin, Silver American Bald Eagle, Gold Australian Striped Marlin, Gold freedom coin, Gold Lucky Dragon, Gold British Lunar Series, Silver and Gold Bars, Silver coins.Goldco’s staff has extensive experience with long-term investments.Eligible IRA Plans: 401(k), 403(b), 457, Pension, and other qualified retirement accounts.$50 IRA startup charge$20 wire fee$150 fee for segregated storage and $100 price for non-segregated storage$80 maintenance feeIRA users who use non-segregated storage will pay just $260 the first year and $180 each year after that.Customers who choose segregated storage for their IRAs will pay only $310 for the first year and $230 annually.Bullion items include bars, coins, ingots, and other high-quality bullion.
Cons:
Goldco does not provide bitcoin or crypto IRAs.The sign-up procedure is only accessible via a unique URL.No online configuration is possible.A $25,000 minimum investment is required.
Why you should invest in a gold IRA company
Retirees and investors buy gold to safeguard and secure their wealth, particularly against the declining dollar. The price of gold is independent of changes in the cost of the dollar. Furthermore, whenever the stock exchange hits a pessimistic phase, the value of gold tends to increase.
Purchasing precious metals protects you from a falling dollar and allows you to vary and diversify your assets. Placing all your eggs inside one bucket puts you at risk of breaking them. However, establishing a Gold IRA helps hedge your financial holdings against inflation.
You can contribute up to $6,000 to your IRA each year. These contributions may also include funds from other accounts or sources. Donations are not restricted. There is also no limit on the amount of money you may use to purchase an IRA.
Gold is an immensely popular asset now for the right reasons. Because gold is readily stored, it is safer than any other choice. Gold is also reasonably simple to handle because it may be shifted from one area to another or given to family and friends for safekeeping. However, if you want to keep gold in your possession without the concern of going against the law, you must follow all IRS laws.
Benefits of a gold IRA
There are various reasons why investing in a gold IRA must be your first choice when evaluating investing options. This is attributable to a multitude of factors, including, but not limited to:
The rising price of gold
If you want to invest your money sensibly to profit long-term, you might consider saving gold once you retire. Choosing the most significant investing business will keep your IRA private and protected. However, before engaging in any company, ensure you know its services and fees.
Above all, the company you invest in should be reputable and well-known. If you resell the gold again, it should give its competitors incredible monetary bundles, perks, and affordable gold prices. You must not choose a company that stores your gold without IRS authorization to avoid future hassles.
Long-term safeguard and protection
IRAs offer their customers several future benefits. Most people feel that by purchasing gold, they are seeking long-term security. Currency value depreciates with time owing to its more excellent distribution. However, people anticipate that gold prices will rise over time compared to the depleting dollar.
In today’s society, the value of paper money is declining, and in such a scenario, investment in an IRA is prudent and rewarding. Moreover, it barely matters if you put some cash into your IRA account; in the future, you may anticipate money to be worth more than what you paid.
Diversification
Choosing gold as an investment does not limit you to only purchasing gold. If you wish to invest in gold, you have many diverse possibilities, such as mining equities. However, be cautious since each of these investment options has the possibility of losing its value in the case of an economic collapse. If some of your investments fail, you can have other options for covering up your loss.
Treasury bonds and government bills are two more diversifying investing alternatives. These choices represent a low-risk investment. The best thing is that all these safe investments are typically believed to retain their worth during adversity or economic disaster.
Tax benefits
One of the most prominent aspects of gold investment is that it is often tax-free. You are not obligated to pay tax on your gold long-term, saving you money. If you have dollars or any cash reserves, you will most certainly lose some of them to taxes, but choosing the appropriate type of IRA can spare you from paying taxes while still earning money on your accumulated gold.
Like every investment account, an IRA needs you to follow all of the rules, which can sometimes be rather stringent. One of these restrictions is not exceeding the donation limit. As a result, the best precious metals provider must have the finest custodian. However, the right investment business will connect you to a gold IRA custodian who may facilitate you in conforming to all restrictions and procedures.
Things to be aware of before opening a gold IRA
Fees and expenses
Before you open an IRA, you should research the Fees and Expenses that will be incurred. It is critical to understand the expense of a gold IRA. If you want to make money in the long run, the price of the gold IRA must be competitive in the global market. Investing in a low-cost IRA will not profit you more than investing in a high-cost IRA. When contemplating this, keep the long-term aim in mind at all times.
You must be assured that your investment is safe and secure and will be returned to you with gains in the future if you invest in gold.
No yield, no dividends, no interest
Another important consideration when purchasing an IRA is that while gold is a tangible asset, it will almost not provide any income. However, the worth of the precious metal you buy will likely rise with time. So, if you purchased $100 in gold, you could anticipate it to be worth $150 in the coming years.
This is why many choose to buy gold, which helps them save more money. Even after ten years, $100 in the account will still be $100, but if wisely invested in an IRA, the IRA will give you the required earnings since gold is rare, being the most feasible alternative for investment.
Fraud and theft
We recommend that consumers exercise extreme caution when acquiring or investing in expensive assets, including metals or gold because there is a big chance of theft and fraud. This danger is readily avoided if you deal with reliable organizations, complete all processes legally, and preserve a record of all payments and transactions. Even if something goes wrong, you’ll have your data and documentation to back you up and protect your assets.
Buyer’s guide to investing in a gold IRA
We’ve previously demonstrated how valuable investment in precious metals like silver and gold can be owing to their intrinsic value, scarcity, tax-free status, and lack of cost depreciation. Investment alternatives that incorporate these precious metals, such as storing and preserving them in retirement accounts, assist in protecting your retirement funds from the volatility of the world market.
If you are interested in opening a gold investment account, we will discuss the essentials later in the article. Before deciding on the right business to work with when exploring gold investment choices through an IRA, you should be aware of a few basics that should be included in your firm’s service.
Speak with a financial advisor or lawyer
The first stage is to evaluate the prospects and scopes of your present investment predicament. Checking the details of retirement accounts is critical in determining your possibilities. Compared to other accounts, certain retirement accounts have more significant restrictions. You must be conscious of such limits to follow the law and avoid future problems appropriately.
For this reason, you must speak to someone thoroughly informed of all the legislation regarding your investment possibilities. This might be a trusted financial counselor or a lawyer. You should talk with your adviser or lawyer before opening a retirement account. This assures that your IRA is legitimate and lawful. Not only that but the restrictions of your IRA and all applicable processes, including tax consequences and rules, must be thoroughly understood and properly presented to you so that nothing is unclear at the start of your account setup process. This will assist you in avoiding ambiguity and any fines that might apply.
Review current news for fraud alerts
In today’s fast-paced world, the web is formidable and has the knowledge one needs to understand practically anything. Staying engaged on the web will allow you to compare several possibilities. Furthermore, keeping up with the news daily can help you remain on top of all financial crimes and scams.
You will also be informed of all financial operations, including the BBB, BCA, and even the FBI’s ICCC, which monitor and alert on such scams. If you want to keep updated and aware of companies that provide the opportunity to create an IRA, you will need to visit the relevant websites frequently.
This research must not be restricted to when you form an IRA or purchase metal; you should also stay up with them while selling previously bought metals. An example is a local individual you discover on the internet paying you more than the value of your purchased metal in a short period. This is probable fraud, and it is recommended to avoid such alternatives.
Find a gold investment custodian and establish the IRA
As previously said, if you want to invest in an IRA, you need to look for a company that can assist you. Every corporation will likely follow tight and particular restrictions that govern how an individual might set up an IRA. You must pick a corporation whose methods, rules, and terms of service are generally similar to yours for them to work best for you.
If you want to invest in a precious metals IRA, the company will enjoy a lot of information from you for the right reasons. Once you’ve decided on a firm to work with, you’ll be required to complete some documentation and return it to the firm. This will serve as a contract between the clients (you) and the company.
This information will include your name, address, social security number, and information on all assets you presently own so that an amount of money may be determined and deposited in your IRA. Of course, the more financially valuable your assets are, the greater your potential for profit through your IRA, but even with less, you can seek profits.
Establish and fund the IRA
You must provide all your funds when creating your IRA for maximum earnings, but even a part of your savings can be converted into a precious metals IRA. There are two methods for finding the precious metal IRA. The first option is to invest a large sum and make a single payment.
You can benefit from this only if you have possessions worth a lot, wish to avoid the trouble of making regular contributions, and trust the company where you are starting an IRA. Otherwise, you may regularly give by making monthly installments. Some companies restrict how you may provide, while others allow you to do both.
Invest in precious metals via the IRA
Several firms allow you to create IRAs, and each has its approach; nonetheless, they all help you through the process, which follows guidelines and instructions specific to your circumstance and case. You should be prepared to spend on precious metal IRAs through the preceding advice. Silver, gold, and platinum are examples of valuable metals.
The next step is finding a dealer to assist you in investing in precious metals. With your approval, the dealer will make an order specific to your situation to invest your money. Your IRA will keep and safeguard the precious metals you purchase.
Gold IRA rollovers
Before continuing, you should be aware of another part of your retirement investing process using precious metals: gold investment rollovers. This is a crucial notion related to alternative investment options.
A rollover allows you to transfer money from your regular retirement account to your precious metals IRA. And the value transfer from a standard account to a gold IRA or from a gold IRA to a precious metal IRA (platinum) may be accomplished without incurring any tax or monetary penalties.
Because the funds must be moved from one account to another, and you have never physically had them as substantial funds, the rollover will occur directly from an existing account to a new gold retirement account. All you have to do for this type of rollover investment is pick a firm from your investment gold IRA and fill out the application form together with the transfer request form.
Filling out the documents and submitting the application can take a couple of weeks, but not more. After the transfer, you can seek assistance from your advisor or agent to purchase the finest precious metals for your specific situation.
401k gold IRA rollovers
It would help if you remembered that you could execute the 401k gold investment rollover. This is possible if you are no longer a worker of any company that formerly offered you an account. Even government personnel can gain in this manner. If you work for a particular company, you can only execute partial rollovers if you meet all age requirements.
The procedure of the 401k gold investment rollover will be the same as the gold investment rollovers, in which a direct transfer from a conventional account will be created into the new gold IRA only after your custodian submits a check to your gold IRA company so that the gold IRA company can assist you throughout the overall process of your precious metal purchase. An indirect transfer is another possibility. You will get a check in your name if that’s the case.
After depositing the monies, you will have 60 days to transfer them to your gold IRA firm. This appears relatively straightforward, but there are consequences if the technique is not done correctly. These consequences include a 10% withdrawal penalty if you are under 59.5 and withdraw cash from your gold IRA account before the 60-day deadline.
Five things to look for when choosing a gold IRA company
Ratings
The internet connects the world in every aspect you can imagine. It informs, educates, and alerts people about almost everything in the world and beyond. There are numerous informative sites on the internet related to the gold IRA industry. These websites contain the necessary information you need to know almost everything about the company you want to invest in.
Examples of such sites are watchdog websites, blog posts, and review posts on forums like the Better Business Bureau. On these sites, consumers share their real experiences with the companies. When choosing the perfect company for yourself, please make sure you go through all good and bad reviews and jot down your concerns to sort them out with the selected company’s customer representative later.
IRA fee structure
In the rampant contemporary world, no service comes without a cost. So you will have to pay the company for their service. These include managing, consultation, custodian, annual safeguarding, and storage fees. The fee is usually taken every time you choose to purchase or sell your precious metals.
Make sure you know the types of payments your company charges before investing in it. The most innovative way to save money is to research companies that charge lower costs for the services you think you need.
Efficiency and delivery time
Everyone in the contemporary world has a lot to deal with, from work to the household. Therefore, everyone has busy schedules with deadlines to meet, and in this situation, we suggest you select a company that can deliver your desired products at the earliest. With fast and convenient deliveries, it is also essential to note the company’s efficiency.
Efficiency can be estimated through quick delivery and procedure, saving as much time and effort as possible. All the companies mentioned above in the Gold IRA industry are known for being super-efficient and fast simultaneously.
Shipping precious metals is possible in several ways. First is that either they get delivered to you in a vehicle, or you may pick them up from any local store near you. Mainly, people choose between the two options. You should always measure the pros and cons for both and choose the most convenient shipping method for yourself.
Pushy salesmen or unfriendly customer support
When you are deciding and shortlisting the places from where you can acquire precious metals, it’s critical to consider if the sales representatives or customer service representatives there are polite or aggressive. If the employees are trying to encourage you to buy more precious metals than your needs, perhaps it’s because they are getting aid through commissions.
This means that the more things you buy, the more money you make. This can be your perfect opportunity to save yourself from cheap marketing or sales strategies. It is crucial to select a firm that employs friendly employees. It might be stressful if the customer representatives are aggressive, as you will need to communicate with them regularly, so you must ensure that they aren’t pushy and easy to talk to.
Other alternative investment options available
Choosing gold as an investment option does not limit you to only purchasing gold. If you wish to invest in gold, you have many diverse possibilities, such as mining equities. However, be cautious since each of these investment options has the possibility of losing its value in the case of an economic collapse. If some of your investments fail, you can have other options for covering up your loss. Treasury bonds and government bills are two more diversifying investing alternatives.
Final thought – Best gold IRA custodians
We realize that you must be paranoid about your retirement savings if you are a retiree or about to retire soon. Therefore, this article has shortlisted the top four names in the Gold IRA industry: Augusta Precious Metals, American Hartford Gold, Birch Gold, and Goldco.
As discussed earlier, gold investments bring considerable value to your retirement savings due to gold being rare, tax-free, non-depreciative, and constantly rising in value. We realize that your retirement plans, money investment status, and plans are distinctive. Therefore we listed the pros and cons of all four top gold-providing firms such that you make a choice considering your unique situation. These four companies offer the perfect skills and understanding to guide you through your investment options.
However, we recommend Birch Gold due to its straightforward investment options, AAA ratings, humble facilitation staff, transparent fee structures, easy gold-selling options and a variety of available investment options.
Much of it comes down to choosing a Gold IRA company that appears to be the best fit for you. Now that you are prepared to start investing in the gold IRA business, the above suggested recommendations for the best gold IRA companies can’t be beaten.
We advise you to explore their websites for additional information, contact their representatives, and look forward to planning for your senior years with a gold IRA supported by solid experience and excellent service from the finest gold IRA Company.
