Investing in gold is one of the effective ways to diversify your portfolio, reduce risk, and secure your assets in the long run. Among the most popular options in the market is opening a gold IRA.
Unlike a regular IRA account, which can easily be set up and managed through a custodian, opening and maintaining a gold IRA is more complex. You’ll have to locate a custodian, a precious metals dealer, and a qualified depository. Physical gold has to be purchased and sent to the depositor in a way the custodian can account for it. To do all these, you must work with a reputable gold IRA company that would assist you with the entire process.
In this guide, we’ll share:
Our Top 3 Gold IRA Companies
Best for Beginner Investors
Our Rating: 4.7/5
★ Highest customer care
★ Low minimum investment of $2,000
★ Top-notch security + proof of purchase
★ No-qualms buyback program
★ Large options for collectibles (gold, silver, palladium, platinum, and rare coins)
Our Overall Top Pick
Our Rating: 4.9/5
★ Excellent scores on customer service
★ Flat annual fee with zero surprises
★ Gold IRA set up and rollover experts
★ 5-star rating from 1,000+ verified reviews
★ INC 5000 recognition for 5 years
★A+ Rating on BBB
Best for Customer Service
Our Rating: 4.5/5
★ First Gold IRA provider with in-house compliance department
★ TrustLink “best of” list
★ Voted “Most Trusted in U.S.” in IRA Gold Adviser
★ Stevie Awards for Customer Service Success
★ National Ethics Association member
How We Chose the Best IRA Companies
Our search for the best IRA companies was determined based on several factors. Initially, we screened them based on customer ratings from BBB, TrustLink, and Business Consumer Alliance. We finally narrowed them down by comparing customer support, price transparency, collection of coins and bars, and ease of opening the account and acquiring precious metals.
After weighing their individual scores, we determined their ranking amongst their competitors to build our picks for what the provider was best for. Thus, completing our final list of the best gold IRA companies for 2022 and beyond.
How We Chose the Best IRA Companies
Our search for the best IRA companies was determined based on several factors. Initially, we screened them based on customer ratings from BBB, TrustLink, and Business Consumer Alliance. We finally narrowed them down by comparing customer support, price transparency, collection of coins and bars, and ease of opening the account and acquiring precious metals.
After weighing their individual scores, we determined their ranking amongst their competitors to build our picks for what the provider was best for. Thus, completing our final list of the best gold IRA companies for 2022 and beyond.
Best Gold IRA Companies Reviews
It’s important to choose the right company to work with so you can enjoy the best of your gold IRA account. Find your investor profile with the company that matches your needs. Check out the reviews of our top gold IRA providers below.
Our Overall Top Pick: Goldco
Goldco Precious Metals and its account representatives go the extra mile to assist potential and existing investors in making informed decisions. It has been in business for over 15 years with a focus on offering gold and silver IRAs, while also providing the ability to purchase coins and bars. You have an abundant option of gold and silver bullion you can check on their website. Currently, the company has an A+ rating with the BBB and 4.8 out of 5 on Google Reviews and Consumer Affairs.
From the account set up to your most recent transaction, you’ll have direct access to a specialist who’ll help you every step of the way. If you’re interested in learning about gold IRA and precious metals, Goldco also offers an educational kit for free. Besides ebooks and videos, you can browse their in-depth blog on a range of investing topics.
Upon speaking with a Goldco representative, we were awestruck at their superb simplification on how gold IRAs work and how we could take advantage of their promotional offers at the time. Several resources were also provided to help us get started with the account. We also asked about the fees involved, and they promptly gave us a quick breakdown.
From our experience, we found that along with its extensive offerings, Goldco’s professional and beginner-friendliness is what earned its spot as a leader in the precious metals industry. You’ll have to note though, Goldco does not offer custodianship and depository services, but partners with companies that do. That means, custodian and depository fees may vary depending on the provider.
Setup Fees and Annual Fees
According to the representative, you’ll have to account for the following fees
Minimum Purchase | $25,000 on precious metals IRAs $3,500 on non-IRA transaction |
|---|---|
Set up Fee | $80 including wire fee |
Annual Fees: | |
Maintenance | $80 |
Custodian | Depends on custodian company |
Storage | $180 including insurance $225 at $100,000 investment level |
Shipping | Depends on custodian company |
PROS:
CONS:
Best for Customer Service: Augusta Precious Metals
Augusta Precious Metal’s offers first-class customer support. Since 2012, the company has built its reputation of providing transparency and integrity and strives to maintain this with its in-house compliance department. It further reinforces customer confidence by providing a dedicated agent who'll help with the entire transaction process and the paperwork.
It boasts lifetime access to its team of professionals. Once you’ve set an account with them, you’ll have continual assistance from a dedicated agent, education department, IRA processing, and order desk. If you want to gain insight into precious metals investing, you can quickly sign-up for a web conference with a Harvard-educated analyst for free. Agents will also be on standby if you have questions about contributions, distributions, and RMDs (required minimum distributions).
When it comes to storing precious metals, Augusta works with Brinks Global Services and the International Depositary Services (IDS). You can have your investments housed in secure, non-government vault facilities within the US or Canada.
Augusta further appeals in the market with its 100% money-back guarantee and seven-day price protection for first-time clients. It's even got a straightforward pricing structure. So, you’ll know exactly how much and what you’re spending money for.
However, you won’t be able to make purchases online at all — this is one of their few drawbacks. Besides that, it has a limited choice of metals and comes with an expensive minimum purchase for gold IRAs. You won’t have much luck in this company if you’re looking to invest in platinum and palladium products. Augusta only offers gold and silver coins and bars, which are attractive for collectors and for those who want easy IRA rollovers.
Setup Fees and Annual Fees
Here’s a list of fees, you’ll need to prepare for when investing with Augusta Precious Metals:
Minimum Purchase | $50,000+ in savings |
|---|---|
Set up Fee | $50 |
Annual Fees: | |
Administration | $75 ( for accounts up to $100,000)$125 (for accounts over $100,000) |
Custodian | $80 - $125 |
Storage | $100 |
Markup | 5% on bullion products |
Shipping | 100% free |
PROS:
CONS:
Best for Small Investors: Noble Gold
Founded in 2016, Noble Gold is one of the fastest-growing newcomers in the gold IRA industry. With its low minimum investment and top-notch security, it has quickly become sought-after by small investors.
Unlike most competitors who solely focus on gold and silver IRAs, Noble Gold collections extend to platinum and palladium products. It also offers a variety of rare coins for non-IRA use. If you want to keep bullion on hand for emergency purposes, you can have their Royal Survival packs for $10,000 to $500,000.
Like Goldco, Noble Gold does not act as an IRA custodian itself but offers the service through its partner companies. So, your custodian fees may vary depending on the provider. Of course, you can always connect with the custodian of your own choice.
When it comes to your storage needs, the firm works with the International Depository Services (IDS). You can have your precious metals stored in-country, within the vaults in Delaware and Texas, or overseas in Ontario, Canada. In addition to being COMEX/CME, ICE, AND LBMA-approved, these highly-guarded and segregated vaults also come with Lloyd's of London insurance policy.
Noble Gold fees are not the cheapest, but they’re a great bargain. Although you'll have to pay $80 and $150 for management and storage every year, you can set up an account completely free if you're a newbie. Another perk is that those are flat fees, so regardless of your account size, you'll only be charged just as much.
Considering Noble gold's great network of partners and suppliers, it is no wonder clients can enjoy affordable gold purchases. You can even engage with their no-qualms buy-back program that lets you sell your coins and bars to them at great prices!
Setup Fees and Annual Fees
Here are Noble Gold’s investment fees:
Minimum Purchase | $2,000 in Precious Metals IRAs $5,000 in Royal Survival Packs |
|---|---|
Set up Fee | FREE |
Annual Fees: | |
Management | $80 (regardless of your IRA account size) |
Custodian | Depends on provider |
Storage | $150 |
PROS:
CONS:
Great for IRA Rollovers: Regal Assets
IRA rollovers can be pretty complex, you’ll need to work with a company with the specific expertise to avoid hiccups. If you’re looking for one, Regal Assets may be your best bet.
For over a decade, the company has focused on offering stress-free IRA rollover. It has maintained a close-to-perfect rating profile by providing superior expertise and services. What makes it even better is you won’t have to pay anything for the transaction. Signing up for an IRA rollover is completely free!
In true pioneering fashion, Regal Assets was first to offer cryptocurrencies alongside precious metals for IRA-use. Initially, they only offered Bitcoin and Etherium, but now they’ve expanded to 21 altcoins, including Dogecoin, Litecoin, Cardano, and more.
Although Regal Assets isn’t highly rated by the famed Better Business Bureau (BBB), it’s got a 4.9 rating on Birdeye based on 1,700+ reviews and many other positive feedbacks on other platforms.
When it comes to their fee structure, Regal Assets is pretty transparent and straightforward. It charges a flat rate of $250 for service and storage per year, including the cost for a segregated vault. This is cheaper than what you’ll find in most providers. Besides the administration fee of $100, there are no hidden transaction costs. Although a minimum investment requirement does apply.
Setup Fees and Annual Fees
Regal Assets’ pricing structure is not available on their website. For a more accurate breakdown, you’ll have to reach out to their customer hotline. But here’s what we know so far:
Minimum Purchase | $5,000 - $10,000 |
|---|---|
Set up Fee | FREE (first-time setup) |
Annual Fees: | |
Administration | $100 |
Custodian | Depends on provider |
Storage | $250 (free for non-IRA accounts) |
Rollover/Transfer Fee | FREE |
PROS:
CONS:
Great for IRA Rollovers: Advantage Gold
Advantage Gold’s vast educational resource, low minimum investment, and hands on customer support make it perfect for first-time investors and bullion buyers.
The company has a particular appeal to new investors as they offer extensive knowledge on precious metals investing and ongoing support for the duration of your IRA account. They help novice investors get through the whole process of setting an IRA account and rolling over an already existing one.
Having a perfect score in TrustLink from 463 customer reviews, the company has exceeded expectations despite being relatively new in the Gold IRA business. Although the company lacks experience, its management team’s collective expertise and highly trained staff makes up for it. You’ll find no unresolved complaint about the firm in any accredited review platforms.
Advantage Gold’s annual fees are also customer friendly. The minimum purchase starts at $10,000 dollars and you’ll only have to pay $245 at minimum for your custodial and annual fees. And if you want to liquidate, the company offers a robust buy-back program that repurchases precious metals at spot price, sometimes even higher than that!
For your storage needs, the firm works in partnership with Brink's Global Services and Delaware Depository, both highly secured vault depositories. When it comes to custodianship, Advantage Gold preferred companies are Strata Trust and Equity Trust.
Setup Fees and Annual Fees
Since Advantage Gold works with two custodian companies, you’ll face different fees with their respective services. Here’s what we got so far:
Minimum Purchase | $10,000 | |
|---|---|---|
Custodian | STRATA Trust Company | Equity Trust Company |
Set up Fee | $50 | $50 |
Annual Fees: | ||
Administration | $95 | Variable, starts at $225 |
Storage | $150 for segregated $100 for non-segregated | $150 for segregated $100 for non-segregated |
Suggested IRA Rollover Minimum | $25,000 | |
PROS:
CONS:
Great for Limiting Fees: Patriot Gold Group
Patriot Gold Group is composed of highly-trained experts with over 50 years of combined experience in the Gold IRA market. It has a 4.7 out 5 stars on Trustpilot and an A+ rating on BBB. It offers a few of the most popular IRA-approved gold and silver coins and collectible coins. However, it’s product prices are not available online, so you’ll have to contact their representative for more accurate details
We like the firm for its efficient 24-hour turnaround and 3-step process with no fees involved. Also notable about Patriot Gold is there are no management fees for gold and silver IRAs. Setting up an account is also straightforward. You can start a new gold IRA from scratch or rollover an existing IRA simply by completing the online form with your basic information.
One great perk of working with the company is investment direct offers. While some providers add a certain percentage to their precious metals prices, Patriot Gold does not. Unfortunately, as with the pricing, there are no details on their partner custodian and storage service or whether they work with partner companies at all.
Setup Fees and Annual Fees
Since there isn’t much information on the website, we spoke to a representative from Patriot Gold Group Offers, and we were provided with this simple breakdown:
Account Balance | $50,000 | $50,001 – $100,000 | Over $100,000 |
|---|---|---|---|
Annual Fee | $180 | $180 | $0 |
Set up Fee | 1 year | 2 years | All |
PROS:
CONS:
Tips on Investing with Gold IRA
Investing in gold seems to be the trend today. Recent fluctuations in the market may have you believing it’s worth a try. But as it turns out, there are various IRS-approved methods for investing in gold and other rules you’ll need to follow. Gold IRAs blend the benefits of modern IRAs and the stability of gold bullions. However, how exactly do you take advantage of these combined features?
To help you decide, here are some guidelines on how to make wise investments.
Purchase IRA-approved Coins for your Gold IRA
When you invest with Gold IRA, it’s important to note that physical bars cannot readily be liquidated like precious metal coins. Thus, it’s best to opt for plans that can hold your investment in coins. They’re not easily counterfeited and much easier to transfer. But, not all gold, silver, platinum and palladium coins are eligible for IRA investment. You need to make sure they qualify with the IRS requirement first!
Here are a few of IRA-approved coins you can invest in:
Before you invest, make sure to read up on the restrictions for buying approved coins.
Know your Gold IRA Storage Options
Whether your precious metals will be segregated or stored with the metals of other investors is also a crucial information. While there are a lot of providers who offer separate storage options, watch out for companies that tell you to store it at home or at a safety deposit box. Both are non-IRS approved methods and can lead you to potential tax charges.
Hold your Investment to Maturity
Gold IRA distributions typically work the same as traditional IRAs do. The only difference is you can choose to receive the cash value or the actual bullion. But take note, just like traditional IRAs, you’ll be taxed accordingly for early withdrawal. So, our best advice is to treat your IRA as a long term investment and hold it till it matures!
Beware of Gold IRA Scams
Always check the facts as you go about searching for a gold IRA provider. Scams are widespread in the gold IRA business, and it could mean serious trouble if you fall victim!
You should watch out for pushy tactics and too good to be true offerings. Avoid IRA websites that have little to no reviews online. And be sure not to sign any murky contracts! Talks of “rare collectible IRA coins” are a serious red flag! There is no such thing as rare IRA coins as there are only a few approved ones. Better check the IRS list! Some companies will also dupe you into transferring money into an unknown account or feign gold purchases.
Safeguard your cash by only working with reputable, legitimate, and trusted IRA providers, like the ones we mentioned above.
How to Find the Best Companies Gold IRA Companies
There are hundreds of Gold IRA providers today, and finding the most trustworthy can be a little tricky. So, here are some steps you can take note of to arrive at your desired dealer.
Most providers offer a free starter kit for more information. Try browsing a few and compare their quality, you’ll be able to distinguish which ones offer better service. Or, if you want another way around, you can try talking to a live chat rep, or contact them thru phone. This way, you’ll know which companies are on standby for their clients.
You can’t trust anything online. Some companies hire people to leave positive comments on review sites, that much is fact. Try searching for negative reviews and see if they were fixed. A good company dealer will make sure to resolve issues before their customers lose trust in them!
What to Watch Out for in a Gold IRA Account
Owning a gold IRA does come with additional expenses than regular ones.
Here are some extra costs you’ll need to watch out for.
Your precious metals dealer usually adds a markup on top of the going rate. It’s also a one-time fee and can vary depending on the provider.
In return for maintaining your account and taking care of the bookkeeping as well as administration, your precious metals custodian will charge you with management fees. This can range from $50 to a few hundred dollars per year. They usually disclose annual fees in their account paperwork or information packets. Your custodian may also offer discounts at certain account sizes.
The gold has to be kept in a qualified depository. These facilities charge annual fees in order to hold and secure your precious metals. The standard storage is non-segregated. You can opt for a segregated vault, but you’ll have to pay an additional cost.
Your custodian may charge you with a transaction fee for the sale or purchase of precious metals in your account. This can also vary, but the typical cost is $40.
You may also be charged with a wiring fee for funds that need to be wired, for instance to pay a dealer. Each outgoing wire cost $25 on average.
Of course, you’ll have to purchase your desired precious metals from the dealer. Apart from the price of the bullion, you may have to pay premiums over the spot price depending on the demand, product type, and dealer premium.
FAQS
The minimum investment for Gold IRA varies depending on your provider. Some require a minimum of $2,000 but other companies also offer as much as $50,000.
IRS-approved bullion includes a few select precious metals coins and bars that can be held in a gold IRA. There are four eligible kinds: gold, silver, palladium, and platinum. There’s only a number of versions that are qualified under the IRS.
If you want to have more liquidity in your holdings, then it's better to buy coins. They’re not easily counterfeited and are easier to trade-off during emergencies than bars. However, you can always choose to diversify your portfolio with a mixture of both.
You should store it in a secured vault. Normally you can store them at a safe deposit box of a bank. But, if they’re part of your IRA, then you’ll need to keep it at an IRS-approved storage.
Not necessarily. There are other alternatives like investing in a gold stock, mutual fund, or ETF. These are also great ways to get exposure to gold in your portfolio.
Bottom Line
With your future financial security at stake, it’s best to consider certain factors when choosing a gold IRA .The most important considerations are the reputation and credibility of the company you entrust to make your purchase.
We reviewed six companies based on consumer ratings, related fees, and product offerings. After assigning scores on their performance, we were able to identify three companies that stood out. But what came out at the top is Goldco. One of the few Gold IRA providers that prioritizes customer needs with a robust buyback program. Although its minimum investment is on the expensive side, tons of customers attest about Goldco's seamless assistance with set ups. You can get started with your Gold IRA endeavor with their free education kit!