By Tim Schmidt
Founder of Gold401k.com.
Gold has always been seen as a reliable investment option for investors because of its lasting value. While the major reason for its appeal is its protection against inflation, there are many benefits of investing in precious metals that go beyond the rising costs of goods and services. You’ll also find a blend of growth potential and security, making it an ideal choice for new and experienced investors.
In today’s world, there are many ways to include gold in an investment portfolio, and each option has its own advantages for protection and diversification. Options range from exchange-traded funds (ETFs) to coins and bars to investing in precious metal mining companies.
If you want to combine the benefits of gold with tax advantages, gold IRAs (individual retirement accounts) might be a compelling solution because they integrate precious metal investing and planning for your senior years.
While a precious metals IRA can be beneficial for your retirement strategy, it’s crucial to choose an experienced and reputable provider. The account’s success will depend on the expertise and reliability of the company managing your assets.
To help you decide if precious metals are right for you, we’ve thoroughly reviewed some of the best gold investment companies. Continue reading to learn which options might be suitable for your needs.
Top Rated Gold Investment Companies 2024
Best Gold Investment Companies to Consider
Investing in precious metals can be beneficial for many reasons. However, you need to work with a reputable gold IRA company. Luckily, we’ve done most of the work for you and have listed the top five options.
Here are the five best gold IRA companies to consider:
1. Goldco
Goldco is the best gold IRA company overall. It offers a wide selection of gold, silver, platinum, and palladium products through a self-directed individual retirement account.
Likewise, you can complete a gold IRA rollover if you have savings accounts, thrift savings plans, 401(k)s, IRAs, and 403(b)s.
If you’re interested in Goldco’s coin selection, it offers:
Gold Independence Hall coins
Gold Phoenix coins
Gold Liberty Coins
Gold American Eagle Proofs
Gold American Eagle coins
Much more
You don’t require an IRA to buy physical gold at Goldco; have it delivered to you. Just remember that you can’t put physical metals in individual retirement accounts. If you do, they are considered a taxable distribution.
Overall, Goldco uses an “education first” approach, helping investors expand their knowledge of gold IRAs and the economy. It offers a free kit to learn more about these topics, as well.
Brief Recap
Get free silver for a limited time only
Educational materials
Non-pushy account representatives
Inc. 500 company for the year
Requires a minimum investment of $25,000
Offers an excellent buyback guarantee
Low setup fees
No hidden fees
2. Augusta Precious Metals
Augusta Precious Metals offers a silver or gold IRA. However, if you’re focused on precious metals, there are also premium and common bullion options. You’ll find assets like:
Canadian Maple Leafs
American Eagles
Australian Striped Marlins
American Buffalos
Gold Canadian Eagles
Much more
Likewise, Augusta ensures that your gold coins and bars are 99.5 percent pure, except for the American Gold Eagle coin. Plus, there are no management fees, though you will have to pay for storage and setup.
Brief Recap
Free one-on-one webinar with Devlyn Steele (a Harvard-educated man)
Requires a minimum investment of $50,000
Offers gold, silver, platinum, and palladium coins/bars
3. Noble Gold Investments
Noble Gold Investments opened in 2016, and the founders have a combined experience of 20 years of buying gold, silver, and other precious metals. It specializes primarily in IRA-approved metals, and new investors can request a free kit to understand how the company works, which products are best for retirement portfolios, and more.
Overall, it’s easy to get started with Noble Gold Investments. You’ll fill out an application first, which takes five minutes. An advisor will contact the custodian within 24 hours to set up the account. Then, you’ll complete any additional paperwork required.
All IRA-approved precious metals are stored in a secure vault using a segregated storage system. This means that the gold and silver are in another area of the building and not with paper currency.
The storage locations are found in Mississauga, Ontario, Texas, and Delaware. You can check your investment portfolio online 24/7/365. Likewise, you may schedule an appointment to view the gold and silver in person at the facility. However, you’ll have to make your own travel arrangements to get there.
To open your account, you’ll pay $50, and there’s an initial wire transaction charge of $30. Annual maintenance is $100, while the storage fee is $150. Combined, you’ll pay $330 to hold a gold IRA at Noble Gold Investments during that first year. It will be $250 after that.
While Noble Gold Investments specializes in gold IRAs, you can also purchase items directly. The company uses a flat-fee structure, but you must contact a representative to learn about prices. There’s even a buyback program available when you choose to liquidate your precious metals.
Brief Recap
Offers Royal Survival Packs, which are highly tradeable and easy to liquidate
Allows you to purchase gold and silver outside or inside of your IRA
No setup fees for an IRA
Minimum investment of $2,500 required
4. American Hartford Gold
American Hartford Gold is another great choice for precious metal IRAs and offers a large selection of items, including gold, silver, platinum, and palladium. It also has cash accounts, so non-retirement investors can purchase things directly through the company, shipping those assets to their homes.
There is a minimum purchase required for a cash account.
If you invest in precious metals IRAs, the items are held in a secure facility. Likewise, American Hartford Gold offers rollovers.
You must have at least $10,000 to open a gold IRA with AHG. Plus, there’s a storage, insurance, and custodian fee of $200 each year. Sometimes, the brand will waive or reduce those charges if you have a large deposit initially.
Brief Recap
Qualified accounts earn up to $15,000 in completely free silver
A+ rating with the Better Business Bureau (BBB)
Seven-day refund available (100 percent satisfaction guarantee)
Offers non-IRA and IRA purchases
Zero buyback fees
Offers a traditional IRA
5. Golden Crest Metals
Golden Crest Metals helps investors acquire gold and silver, though it specializes in establishing precious metal IRAs. You’ll find a wide range of services, and it offers educational resources on investing and the options available.
Likewise, Golden Crest Metals sells gold and silver coins from various countries, such as Austria, South Africa, Australia, Canada, and the United States. Overall, you can get tailored investment strategies, help with selecting a custodian, and rollover assistance if you require it.
Ultimately, Golden Crest Metals is committed to providing a clear and transparent investment process. It believes that everyone deserves to have a gold IRA if they want one and will work hard to educate them about such products.
Brief Recap
Specializes in gold IRAs
Offers free storage and shipping
Provides tailored advice about the investment process
Offers support for choosing your custodial services
Requires a minimum investment of $25,000 for IRAs
Requires a minimum purchase of $10,000 for direct sales
What’s a Gold IRA?
Many investors want to hedge against inflation and diversify their portfolios. Investing in gold could be the right choice. However, you can’t use Roth or traditional IRAs. Instead, you need a separate account.
A self-directed gold IRA is similar to any other individual retirement account because it has the same distribution rules and contribution limits attached to it. Still, you don’t hold paper assets (bonds and stocks). Instead, you put in physical precious metals, such as bars and coins.
Gold IRAs can also hold gold stocks, which are shares of gold production and mining companies. You can also have gold mutual funds that will invest in stocks and bullion, as well as gold ETFs.
Overall, a precious metals IRA is an excellent choice for gold and silver investments.
How Do You Choose the Best Gold IRA Company?
If you plan to hold physical gold in an individual retirement account, you must open a self-directed IRA (SDIRA) with a custodian. This entity must be an IRS-approved financial institution, such as a brokerage, trust firm, or bank. Typically, mutual fund companies won’t handle these types of accounts.
Every custodian offers different investment choices. Therefore, you’ll want to ensure they include physical gold as one of those offerings before opening an account. You can then set up your SDIRA as a Roth or traditional IRA.
Next, you’ll need to fund your account and can do so with a:
Rollover from another qualified plan, such as a 457 plan, 403(b), or 401(k)
Transfer
Contribution, which is subject to limitations
Once you’ve funded the account, you can choose the investments you want. Your precious metals dealer and custodian will complete the transaction for you.
However, you can’t buy just any gold bar or coin. The products must meet the IRS’s fineness standards for weight and purity. Likewise, they must be stored in an IRS-approved depository. Gold IRA companies know this and will explain it all to you when you call to set up your account.
Benefits of a Gold IRA
With all types of investments, there are benefits and drawbacks. Precious metals IRAs come with these advantages:
Greater Control
Gold IRAs are self-directed, so you must directly manage the holdings and make investment decisions.
While you’re free to choose the gold coins and bars you like (or pick silver, platinum, and palladium), you must handle everything yourself or with the help of your custodian. This gives you greater control over your account.
Long-term Hold
Precious metals aren’t very liquid, but a gold IRA isn’t, either. Since it’s a long-term plan that allows you to purchase and hold the investment, it’s great for an individual retirement account. Most people don’t plan to touch that money until they retire, which could be decades away.
Tax Benefits
Generally, gold IRAs offer similar tax advantages as standard ones. For example, contributions made to a traditional self-directed individual retirement account are tax-deductible. However, qualified withdrawals from a Roth nest egg are tax-free.
Drawbacks of a Gold IRA
Though a gold IRA offers many benefits, there are a few drawbacks to consider. These include:
Funding Restrictions
You aren’t allowed to move the precious metals you currently own into gold IRAs. Likewise, you cannot personally purchase these items and put them in your individual retirement account. Generally, your custodian handles the transactions for you.
Higher Fees
Instead of keeping your precious metals at home or in a safety deposit box at the bank, you must pay the custodian to insure, store, buy, transport, and ship the items for your IRA.
Typically, gold IRA providers charge higher custodian account fees than regular brokerage services.
No Tax-advantaged Income
Gold bullion won’t pay dividends, interest, or other returns, so you can’t take advantage of tax-free growth in traditional IRA investing.
Ultimately, you only get a break on the capital gains resulting from selling the precious metals in a gold IRA at a profit.
Opening a Gold IRA Account
Investing in precious metals contains risks that you should understand before making decisions. However, a gold IRA is still a great option for investors who want to hedge against inflation and diversify their retirement accounts.
Typically, financial experts recommend that you keep five to 10 percent of your portfolio in gold and other precious metals.
Working with a precious metals dealer and a financial advisor can help you decide if gold and silver are right for you.
Final Thoughts
With so many gold IRA companies available, it’s hard to decide which one to choose. This is an individual decision, and the provider you select depends on which brand suits your personal financial goals and needs.
Shopping for and comparing different companies can help you see which one checks the boxes for your situation. We focused on five brands, and they are all ideal. However, if you want the best gold IRA investment option, Goldco might be the top choice.
I Personally Invested With Goldco