Are you considering investing in precious metals to secure your retirement portfolio? If so, setting up a precious metals IRA is an excellent option worth exploring.
However, with many companies offering this service, choosing the right one can be overwhelming and confusing. That’s why we’ve put together this article to guide you on the top precious metal IRA companies of 2023.
We’ll take a closer look at Goldco, American Hartford Gold, and Augusta Precious Metals, their investment minimums, customer service quality, and pros and cons.
By the end of this article, you’ll have all the information you need to make an informed decision about which company is best suited for your needs.
So sit back and let us help you navigate through the maze of options out there when it comes to the best precious metal IRA companies for your retirement plan.
*Disclosure: We may receive compensation if you purchase through the links on this website. However, this does not affect how much you pay or the integrity of our review. We simply choose the best option for retirees.*
Setting up a Precious Metals IRA
If you’re ready to protect your retirement portfolio with precious metals, it’s time to dive into the options for setting up a precious metals IRA.
The two main options are self-directed IRAs and precious metals IRA companies. With a self-directed IRA, you have more control over which assets you invest in, but it also requires more knowledge and responsibility on your part.
Precious metals IRA companies, like Goldco, American Hartford Gold, and Augusta Precious Metals provide professional management services for your precious metal investments. When choosing a company to set up your precious metals IRA with, it’s important to consider factors like investment minimums and storage fees.
Some companies may require higher investment minimums than others, so be sure to check their policies before making a decision. Additionally, storage fees can vary depending on the company and the type of storage option you choose (e.g., at-home or third-party vault).
Overall, both self-directed IRAs and precious metal IRA companies offer viable options for protecting your retirement portfolio with physical gold, silver, platinum, or palladium.
Top Companies of 2023
You may be interested to know that the editor’s choice for top precious metals IRA company of 2023 is Goldco, followed closely by American Hartford Gold as the runner-up. Both companies offer exceptional services and have a long-standing reputation in the industry.
Goldco is known for its excellent customer service, low fees, and extensive educational resources that help investors make informed decisions.
American Hartford Gold is highly recommended for its impeccable customer service and attention to detail. The company offers a wide range of investment options, including gold, silver, platinum, and palladium. They also provide transparent pricing with no hidden fees or charges.
With these two companies leading the way in the industry, you can be confident that your precious metals IRA will be in good hands.
Goldco: Editor’s Choice
When looking for a trusted and reliable company to manage your retirement portfolio, it’s important to consider Goldco as the editor’s choice. Goldco has been in business for over a decade and has a proven track record of providing excellent customer service, education on precious metals investing, and secure storage options.
One reason why Goldco stands out from other precious metals IRA companies is their commitment to transparency. They offer full disclosure of all fees and costs associated with opening and maintaining an account.
In addition, they have a team of knowledgeable representatives who are available to answer any questions or concerns you may have about your investment. With Goldco, you can feel confident that your retirement funds are in good hands.
Gold IRA Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50, as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually. Goldco does not charge any storage fees for cash transactions over $25,000.
American Hartford Gold Runner-Up
Coming in second place, American Hartford Gold has been praised for their attentive and professional customer service and commitment to transparency over fees. They offer a range of precious metals including gold, silver, platinum, and palladium.
With high investment minimums, American Hartford Gold is best suited for investors with larger portfolios. One standout feature of American Hartford Gold is their ability to assist in the rollover process from an existing IRA or 401(k) plan. This can make it easier for investors to diversify their assets into physical precious metals without having to navigate the complex IRS rules on their own.
Their knowledgeable staff can also provide guidance on which metals may be best suited for an individual’s needs and risk tolerance. Overall, American Hartford Gold offers a solid option for those looking to add precious metals to their retirement portfolio.
Augusta Precious Metals Education Program
Immerse yourself in the world of physical precious metals with Augusta Precious Metals’ extensive investor education program. You can learn about the history, value, and benefits of owning gold and silver. This company is dedicated to helping their clients make informed decisions when it comes to investing in precious metals.
The education program provides a wealth of resources including videos, articles, webinars, and one-on-one consultations with knowledgeable experts. Augusta Precious Metals believes that educating their clients is essential to building long-lasting relationships founded on trust and transparency.
Their goal is not only to help their clients invest in physical precious metals but also to empower them with knowledge that they can use throughout their lifetime. Whether you are a seasoned investor or new to the world of precious metals IRAs, Augusta’s education program will provide you with all the tools necessary to make informed investment decisions.
Frequently Asked Questions
What are the tax implications of investing in a precious metals IRA?
Investing in a precious metals IRA can have tax implications. When you invest in a traditional IRA, your contributions are tax-deductible, and you pay taxes when you withdraw the money during retirement.
However, with a precious metals IRA, the IRS treats it like any other IRA account. You won’t owe taxes on gains until you start withdrawing funds during retirement. The tax rate depends on your income level at that time.
It’s important to note that if you withdraw funds before age 59 1/2, you may face penalties and taxes on top of regular income tax rates. Therefore, it’s recommended to consult with a financial advisor before investing in a precious metals IRA to understand the potential tax implications and ensure it aligns with your financial goals.
How long does it typically take to set up a precious metals IRA with a company?
If you’re wondering how long it typically takes to set up a precious metals IRA with a company, the answer is that it varies depending on the company and your individual situation.
Some companies may be able to set up your account within a few days, while others may take several weeks. The process usually involves filling out paperwork, selecting investments, and choosing a custodian to manage your assets.
It’s important to do your research and choose a reputable company with transparent fees and good customer service. Keep in mind that setting up a precious metals IRA requires some upfront investment and ongoing maintenance, but it can provide valuable diversification for your retirement portfolio.
Can precious metals IRA companies assist with the buying and selling of precious metals within the IRA account?
Yes, precious metals IRA companies can assist you with buying and selling precious metals within your IRA account. These companies typically offer custodian services that allow them to manage all of the assets in your IRA, including the physical precious metals.
This means that they can help you purchase and sell gold, silver, platinum, or palladium as needed to balance your portfolio. Additionally, many of these companies offer investor education programs to help you make informed decisions about buying and selling precious metals within your IRA account.
When selecting a precious metals IRA company, it’s important to consider factors such as investment minimums and storage fees in addition to their ability to assist with buying and selling precious metals.
Are there any restrictions on the types of precious metals that can be included in a precious metals IRA?
Yes, there are restrictions on the types of precious metals that can be included in a precious metals IRA. The IRS only allows for certain types of coins and bars to be held within an IRA account, which must meet specific purity and certification requirements.
For example, gold coins must have a fineness of at least 99.5%, while silver coins must have a fineness of at least 99.9%. Additionally, collectible or rare coins are not allowed in IRAs.
However, traditional bullion coins like American Eagles and Canadian Maple Leafs, as well as popular bars from approved refiners like Johnson Matthey or PAMP Suisse, are typically permitted options for inclusion in a precious metals IRA account.
What happens to the precious metals in a precious metals IRA if the custodian company goes out of business?
If the custodian company of your precious metals IRA goes out of business, your precious metals will still be held in custody by a third-party depository. The IRS requires that all IRA assets, including precious metals, be held by a custodian or trustee.
However, if the custodian company goes out of business, the third-party depository will continue to hold and safeguard your precious metals until you transfer them to another IRA custodian. It’s important to choose a reputable and financially stable custodian company for your precious metals IRA to minimize the risk of this situation occurring.
Be sure to do your research and carefully consider all options before making any decisions about setting up a precious metals IRA.
So there you have it, the top three precious metals IRA companies of 2023.
Goldco stands out as the Editor’s Choice with their straightforward and transparent approach to investing in precious metals.
American Hartford Gold takes the Runner-Up spot with their impressive BBB rating and customer service.
Augusta Precious Metals offers an Education Program that is perfect for those new to investing in precious metals.
Ultimately, when choosing a precious metals IRA company, it’s essential to do your research and consider your investment goals carefully.
Take into account each company’s pros and cons, minimum investments, and customer service before making a decision.
By doing so, you’ll be well on your way to protecting your retirement portfolio with the help of one of these top companies.