Best Gold IRA Companies 2020
Protect Your Retirement Against Stormy Economic Times Ahead – US Residents may be eligible for a gold retirement fund for protection against economic volatility
After years of smart financial decisions and saving, it is painful to watch your retirement funds wash away with the price fluctuations of stocks, bonds, and real estate. Thousands people have lost the majority of their retirement funds to bursting asset bubbles. These risks can be mitigated with a diverse investment portfolio, but the fear of losing years of hard-earned money due to factors beyond your control still looms overhead.
Recent market uncertainty and everlasting fluctuations might have you thinking about investing in gold. But is this a viable option for you? Is it a smart move? There are IRS-approved ways to invest in gold through a gold individual retirement account.
We all heard something along these lines: “gold is a safe haven in economic turmoil – invest in gold!”
When rolling over, there are many options and even more companies. It is important to do your due diligence and find the best precious metals IRA provider and investment structure.
The IRS has a set of very strict regulations and rules that you must follow. Whether you decide to invest in gold alone, or mix it up with palladium, platinum or silver – is up to you. It is best to consult with an expert who will help you make a wise decision.
There are many companies – but not all of them are credible. We go over the top ones based on verified customer reviews and our own in-house research.
Here are some of the key factors we considered when compiling our list of best gold IRA companies:
- Customer Service
Top Gold IRA Companies for 2020
Gold IRA Reviews
GoldCo (also known as GoldCo Precious Metals) was founded in 2006. Based in Woodland Hills, California the company provides self-directed precious metal IRAs backed by gold, silver, palladium platinum or a combo of these. The company works with IRA custodians and customers to provide rollover services. Investing through them can be an attractive option for those wishing to transfer IRAs from financial institutions or other companies into a precious metals IRA.
- They specialize in precious metals backed IRAs
- Over a decade of experience
- BBB: A+ – 0 Closed complaints
- TRUSTLINK: 242 Reviews (5/5 Stars)
- BCA: AAA Rating – 1 Complaint (100% complaint resolution)
- TRUSTPILOT: 4.8 (Rated Excellent – 482 Reviews)
- #16 on INC. 500 (2015)
- Named #3 fastest growing financial services company by INC magazine
- Fully Insured Storage
One of the most trustworthy names when it comes to 401k IRA rollovers is definitely GoldCo. They are well known for being safe, secure, dependable, fair, and trustworthy. If you want a quick snapshot of the reliability of a company you can always turn to the Better Business Bureau(BBB). You can also go to BCA and see they have a perfect score. There you can see a list of open and closed complaints against a company. GoldCo had none since they were founded…
They are one of the few companies that received a 5 star rating on the site without any negative comments. People who are GoldCo clients are always happy they trusted them.
A separate, but similar, website is Trustlink. Trustlink was once part of the BBB, but broke off to form their own site. Here, businesses are rated in a similar fashion with room for comments, complaints, and reviews.
Trusted By More Independent 3rd Party Consumer Protection Agencies Than Any Other Gold Company
What is a gold company?
If you want to fully understand what a gold investment company is, you first have to be specific about the type of investment you are looking for. A lot of the times gold investment or gold ira companies is a generic term used by many companies. That is why it is critical to make sure which type of investment you are interested in and then chose the appropriate firm.
There are 4 different ways to invest in gold and they are:
- Bullion and Gold Coins – This is the most simple and “direct” method of buying gold where the investor purchases physical gold. Usually in the form of bullion or gold coins. Precious metals can either be self-stored (deposit safe box) or purchased inside a self-directed IRA also known as a “gold IRA” or “precious metals IRA”. If bought inside a self-directed IRA the purchase is funded with a “rollover” from retirement accounts, such as a 401(k)s, TSPs or other IRAs. Due to IRS regulations, the investor is the owner of the metals, however can not physically hold the purchase. The purchase is done through a custodian and dealer and then stored with the custodian. The minimum purity of the precious metals purchase must be at least 99.5% (24 karats). By purchasing from reputable gold IRA companies, your investment will be safe and the metals of high quality.
- Gold Exchange Traded Notes (“ETNs”) – ETNs are considered a somewhat complex investment. Unlike ETFs, ETNs don’t own any physical gold. It is issued by financial institutions and the base of its return is a market index. Although they are a type of bond, they do not pay interest like a bond. Once the ETN matures, fees are the deducted and the investor is paid based on the performance of the underlying index. ETNs are traded on major exchanges just like stocks, so in theory an investor can buy and sell them and make money with the difference in price, minus possible fees. It is worth noting that since there is no physical metals involved in the process, you might risk being exposed to the counterparty risk of the ETN issuer. More info from FINRA (here)
- Gold Exchange Traded Funds (“ETFs”) – When purchasing gold through a ETF it is owned by the ETF and not the investor. Instead, shares of the fund are purchased and are traded in accordance to the price of gold on the markets. Usually 1 share is the equivalent of 1/10 of an ounce of gold. The shares can be purchased either directly from the ETF or through a IRA. Some of the well-known ETFs include: iShares Gold Trust and SPDR Gold Trust.
- Gold Miner Stocks – With gold miner stocks, you are investing in the equity issuances of gold miners. When investing, comprehensive due diligence is advised on each mining company. Future planned projects, production costs and levels should all be considered. Compared to physical precious metals, gold miner stocks are more volatile and represent a leveraged investment.
In our opinion, gold IRA offers the most benefits as you directly own physical gold and benefit from a favorable tax treatment. You can read all about it in this comprehensive guide.
It is really important to do your due diligence when researching companies to buy precious metals from and setup a Gold IRA. Before you decide to invest, make sure to read through this review before deciding to rollover your account. This can literally save you months in research. If you don’t have 15 minutes to spare, you can download the free Gold IRA Guide at the GoldCo website.
After spending months researching the top rated gold IRA companies & custodians, we came up with this list of the best ones. The following list contains company reviews, fees, storage policies and more.
Things to Consider When Choosing The Best Gold IRA Company
- Reputation – The companies you are considering, must be able to deliver good results despite market volatility. The situation in the market should not determine your investment outcome. Customer service must be a primary concern since you want the company to guide you when taking your existing 401K and making financial decisions. Moreover, you should determine if other clients are satisfied with the company’s service. The company should also be established and accredited by various market watchdogs like Business Consumer Alliance (BCA), Trustlink, Ripoffreport.com, and Better Business Bureau (BBB).
- Fees and Policies – Before you choose a company, you should be aware of any policies and fees that will be applied to your account. You must understand what you are being offered. Does the investment strategy suit your specific needs? Does the company charge any unnecessary fees? In the beginning, this may seem a bit confusing. The company you choose to work with should make the investment process easier by having people available to guide you through the rollover process and provide you with exceptional customer service.
- Flexibility and History – The IRA custodian should provide you with various investment options and their policies must suit your specific needs and situation. You want to work with a company with market experience that is known for their steady and smart investments that grow. This is especially important if you are not an experienced investor. Opening a gold retirement plan is a good investment strategy as gold offers long-term stability and it serves as a hedge against inflation for your retirement savings.
- Buyback Program – When you’re ready to liquidate your gold or other precious metals, you must have someone available to buy them back fast and easy. You don’t want to miss out on potential gains. These gains can be lost if you have to wait several days to liquidate your assets. The company should offer a buyback program allowing you to resell metals at the current metal spot price. Regal Assets has a 7-day withdraw policy – if they miss the deadline, they will send you a Silver American Eagle Coin.
- Storage Safety – One important factory to consider, that is mostly overlooked, when choosing a gold IRA investment company, is storage safety. You want to be sure that the company offers several storage locations, nationally and overseas. The company of your choice should offer segregated storage options. Segregated storage means you get a section in the vault for your precious metals. That means your metals will not be combined with other people’s metals. That means you can get easy access when you need to liquidate your precious metals quickly. Don’t overlook storage safety and quick access, when choosing a gold investment company.
Gold IRA’s – Frequently Asked Questions
Before you decide for a gold IRA company, here is what you should know about the rollover process, the market for gold, and terminology. For your convenience, I have provided thorough answers to some common questions.
A gold IRA is known as a self-directed IRA, it is very similar to a traditional retirement account, the only difference being that instead of paper assets it holds IRA approved physical bullion bars or coins. Precious metals are held in custody for the IRA account owner by their gold IRA custodians (Trustees) – either in their own storage or third party metal depositories.Most of the time the dominant metal held in an account is gold, hence the name.
Precious Metals must be stored in the possession of a certified custodian or trustee. They are never kept in the possession of the IRA owner. It may be stored by a bank, a loan association, or a certified company. It is up to the account owner to choose where it is purchased from and where it is stored.
When talking about the 401k rollover this can refer to a company that sells the bullion or the company where it is stored. For the sake of clarity, all of the companies mentioned in this review sell bars and bullion, some also store them as well.
A gold IRA company is a financial firm that uses gold and other precious metals to create individual retirement accounts for savers. Our recommended gold IRA company, Regal Assets, specializes in physical gold bullions, but you may also invest in firms related to the gold industry.
Gold is rather speculative and volatile during times of economic expansion, but it is often viewed as a source of safety during recessions and times of financial uncertainty. Because of this, the law of demand causes the value of gold to rise during economic downturns.
You may be wondering why you should put a volatile asset in your IRA. This is a valid concern, but gold’s tendency to rise during recessions is a great reason to store it in a retirement account. As long as you do not sell gold assets when they are undervalued during an economic expansion, rolling a portion of your funds over to gold is a safe practice.
There are numerous ways to invest in gold, but the most popular methods are through a mutual fund or an ETF. Some people prefer these methods over physical gold because it is easier to transfer the investments to cash, but they are quite risky during economic swings. Mutual funds and exchange-traded funds that track gold can easily be added to both traditional and Roth IRAs, and they have fewer transaction fees and insurance requirements than physical gold.
To further diversify my gold portfolio, I have branched out to the stocks of mining companies and other firms related to the precious metal industry. This can be a great way to bolster your IRA with gold investments that offer dividends. You should keep in mind that gold IRAs can only contain actual gold, so gold-based stocks must go into a normal IRA. These options also do not offer adequate protection against inflation and volatility during recessions.
If you find yourself attracted to the idea of purchasing home-storage gold bars and coins for your IRA, take a moment to think about the pros and cons. In the event of a total economic collapse, physical gold can prove to be an incredibly valuable asset. In a situation where the social and financial institutions are in turmoil, wealth stored in gold will grow with the levels of inflation and uncertainty. Physical gold could help you avoid financial ruin.
Before you decide that you will heavily invest in home-storage gold, you should take note that a complete financial collapse has not occurred in the United States since the 19th century. The costs of converting physical gold to currency are also quite high. While it may go against conventional wisdom to buy a warehouse of gold ingots, you can benefit from owning a portfolio of gold assets in an IRA.
To purchase physical gold, you simply need to consult an educated adviser. This is the safest and most cost-effective way to purchase physical gold. I am skeptical of the recent home-storage physical gold options that are frequently advertised due to IRS penalties. Working with a trustworthy company will keep you and your investments out of trouble.
Usually a 401k to gold IRA rollover is a process that allows you to transfer some or all funds from an existing traditional or Roth IRA to gold IRA. As I mentioned earlier, a gold backed IRA is simply a retirement account that contains physical gold coins and bars.
To roll your assets over to precious metals IRA, you will remove funds from an individual retirement account to purchase precious metals from a gold IRA company. After the gold is purchased, the current market value of your gold assets will be credited to your new IRA account.
When done correctly – completely tax free.
With Regal Assets, the minimum is $10,000 for retirement accounts and $5,000 for cash deals.
Advantage Gold has no minimum, but they highly advise not to invest anything less than $5,000.
After reading our gold IRA companies review and have made the final decision to open an account, create an account with a high-rated and trusted company like Regal Assets. When you arrive on their account-creation page, complete the form with your name and contact information. After this, you will designate beneficiaries and provide current custodian information.
Which is the best Precious Metals IRA provider for your 401k rollover?
Now that you took the time to read our top precious metals IRA review, it is time to make a decision. Choosing between the best gold IRA companies that will reliably protect your retirement savings should be of utmost importance. Whether you are experienced or brand new to gold investments, our recommendation based on: Transparency, Storage fees, History, Customer support and satisfaction is GoldCo.
Now, more than any other time in history, it’s critical to protect your retirement savings. The government can tap into you individual retirement account at any time and wipe it out, in order to help in paying back some of the U.S. debt deficit.
This is important to know if your 401(k) or Individual Retirement Account (IRA) is backed by fiat currencies like mutual funds or paper money. This type of investment can place you at serious risk of losing everything you’ve worked and saved for. With the current government shutdown freezing the national budget, it’s only a matter of time before inflation hits and starts impacting your retirement accounts because of their vulnerability to certain economic conditions.
Trusted By More Independent 3rd Party Consumer Protection Agencies Than Any Other Gold Company
- 1 Top Gold IRA Companies for 2020
- 2 Gold IRA Reviews
- 3 What is a gold company?
- 4 Things to Consider When Choosing The Best Gold IRA Company
- 5 Gold IRA’s – Frequently Asked Questions
- 6 What is a Gold IRA?
- 7 What Is a Gold IRA Company?
- 8 How Safe Is Gold For Your IRA?
- 9 How to Invest in Gold
- 10 How to Invest in Physical Gold
- 11 What is a Rollover?
- 12 Which Precious Metals Are IRA Approved?
- 13 What Is The Minimum Investment?
- 14 How to Open a Gold IRA Account
- 15 IRS Approved Precious Metals
- 16 Which is the best Precious Metals IRA provider for your 401k rollover?