The world of investing is volatile, and this is no secret. From stocks to cryptocurrency, nothing is safe from the unpredictable nature of the global financial market; one day, the Dow Jones is booming, and the following day it sinks due to a pandemic or some other cataclysmic event.
However, gold, silver, and other precious metals have stood the test of time and the ever-changing climate of the global economy. Unlike conventional assets, such as bonds, equities, and mutual funds, gold and silver rise in value whenever the stock market dips, making them ideal long-term investments, especially for retirement investors.
In a market full of unpleasant surprises, a gold-based IRA may be one of the best options for anyone looking to protect their retirement savings against inflation and market volatility. This article will review five reputable gold investment firms, what makes them unique, and some Gold IRA fees clients may incur.
Top Gold IRA Rollover Companies
Goldco is the leading dealer in the precious metals market, building a solid reputation in the industry by going the extra mile to satisfy all the IRA needs of its investors and clients. Since 2006, the firm has earned thousands of investors’ complete trust and confidence through its devotion to customer satisfaction.
Goldco may help investors protect their assets in retirement accounts from the global financial market’s erratic nature by transferring them to a precious metals IRA. Whether someone has a 401(k) plan, TSP, a traditional IRA, or a 403(b) plan, Goldco’s specialists will walk them through the steps of transferring the funds to a gold IRA, allowing them to take advantage of the stability of gold and other precious metals.
Goldco also provides comprehensive educational resources to each of its investors, ensuring that they are sufficiently informed on the current market trends and the state of the economy before committing to a purchase or investment. Clients can access these resources through Goldco’s website, which includes several e-books, articles, and videos that cover a broad range of investing topics.
Investors who work with Goldco will typically pay a one-time IRA setup fee of $50, a wire fee of $30, and an annual maintenance fee of $80. Clients can also choose between segregated and non-segregated storage options, which will set them back by $150 and $100, respectively.
In addition, Goldco offers a buy-back program. If a client reaches a point when they need to sell the gold, silver, and other precious metals in their account, the company will purchase them at the highest buy-back price, allowing the clients to liquidate the assets quickly and hassle-free.
Investors who would instead invest in their retirement savings directly can also work with Goldco. The firm allows clients to purchase physical gold and coins on the website and ship them to their home or depository. Clients may receive free storage and shipping from the company if they meet the requirements.
Goldco’s website features a library with educational resources that first-time investors may find helpful.
The company’s excellent customer service guides clients through the tedious and rigorous processes of creating a precious metals IRA.
Potential investors may request a start-up kit from Goldco, including a printed handbook, an audio guide, and a video that answers first-time clients’ questions.
Setting up an account through Goldco is straightforward and can be done primarily online.
The minimum investment for a Goldco gold or silver IRA is much higher than the minimum requirements of other companies.
The website does not list bars and coins that clients can purchase directly. Additionally, Goldco’s prices and service fees are not on any of the materials provided by the company.
Since 2012, Augusta Precious Metals has offered thousands of clients a direct and customer-centric investing experience without using sleazy sales tactics to pressure them into spending more. This firm built its reputation on integrity, creating a pricing scheme and fee structure that’s completely transparent and unambiguous.
Touting itself as “Your Premier Gold IRA Company,” Augusta vows to guide its investors toward making intelligent financial decisions to help them prepare for retirement. Before they accept payments, they ensure that their clients know the intricacies of investing in gold and are aware of all the risks they may face.
Clients will need a minimum of $50,000 to qualify for an Augusta Precious Metals IRA. Additionally, funding for the new IRA will typically come from an existing retirement account, after which clients can purchase gold and silver through the firm’s order desk.
Augusta’s first-time customers can expect to pay a one-time $50 IRA setup fee and two additional annual fees; a $100 storage fee and a $100 custodian maintenance fee.
Augusta also has an Education team on board that’s committed to helping clients understand IRA diversification. The members and staff on this team possess years of experience handling gold IRAs and valuable insight on emerging issues and trends surrounding the precious metal market, which may help clients make the correct choices at the right time.
Augusta provides all its clients with a dedicated agent who will guide them through purchasing gold and silver. These agents are only an email or phone call away, so new investors may reach them anytime if they have any queries regarding their accounts.
Augusta’s website also has a library filled with helpful video resources from Delvyn Steele, a Harvard-trained economist. Through this resource, clients can receive insights from someone with the financial acumen to guide them through the unpredictable investing world.
Augusta’s customer service is top-notch. With an Education team, a dedicated agent, and a video resource library, the firm goes above and beyond to help its clients understand the steps involved in opening a gold IRA.
The firm has an unambiguous pricing scheme and fee structure, revealing to the customers exactly how much they must spend in all transactions.
Clients who purchase gold and silver outside an IRA will still receive guidance and management services from the firm.
Augusta has a strong reputation in the investing world. The firm has accrued a AAA rating from the Business Consumer Alliance, an A+ rating from the Better Business Bureau, plus several 5-star reviews from customers.
The initial investment cost of Augusta is notably higher than other firms. With a minimum requirement of $50,000 to qualify for a gold IRA, some investors may find this a bit too steep.
Before a client can sign up for an account, they must download and read a lot of material. Although having sufficient knowledge of gold-based IRAs would benefit some clients, they may find this taxing and time-consuming.
American Hartford Gold is a family-owned investment firm with numerous awards for its reliability and transparency, including the #1 Gold Company recognition on the Inc. 5000 list in 2021. Additionally, the company is highly esteemed among investors, earning an A+ rating from the Better Business Bureau and maintaining near-perfect ratings from customers on Google and Trustpilot.
American Hartford Gold offers a hassle-free experience to its clients with a straightforward purchasing and delivery process. However, a third-party depository service is necessary for anyone who wants to set up a precious metal IRA, which will require additional fees.
The company also offers a buy-back commitment and a price-match guarantee. With the buy-back program, clients can sell their gold and silver back to American Hartford directly to help them save time and liquidation fees.
In addition, American Hartford Gold charges no extra fees for establishing a gold IRA and shipping a client’s bullion to a depository. The company also covers tracking and insurance, but clients will still need to pay annual storage and maintenance fees of around $180 if the investment is in a depository.
The founder of American Hartford, Sanford Mann, grew up working on a farm where he learned how to treat clients from his father. The founder’s humble beginnings translate into the company’s emphasis on a customer-centric service that aims to guide clients through the rigorous processes of investing with compassion and patience.
Alongside the company’s dedication to its investors, it also fosters a positive relationship with the local community by working with several local and national charities, including the Los Angeles Regional Food Bank and The Midnight Mission.
American Hartford Gold does not require a minimum amount for gold investments. Anyone who wants to buy precious metals or set up a gold IRA is free to do so at a price they’re comfortable spending.
The company is family-owned and operated. This structure translates into a tight-knit relationship between the firm’s agents and clients.
American Hartford Gold offers a buy-back commitment and a price-match guarantee, ensuring that clients may get the best possible deal if they choose to work with the firm.
The company gives back to the community by donating to reputable charities, including the Los Angeles Regional Food Bank, The Midnight Mission, and many more.
The firm does not disclose precious metal prices or its specific fee structure. Investors may need to speak with a representative before accessing this information.
American Hartford charges annual maintenance and storage fees.
Experience and expertise are essential elements of a company’s success in all industries, and Birch Gold has both. With almost 20 years experience in the precious metals market, the firm has honed its skills and accumulated enough knowledge to help clients make the best decisions for their accounts and retirement plans.
Birch’s website exhibits the firm’s outstanding skills in analyzing and understanding the gold market. Featuring step-by-step guides, real-time interactive graphs on the prices of precious metals, and articles that delve into the different ways of investing in gold, Birch Gold helps its investors make sense of an intimidatingly complex market.
Additionally, Birch connects every client with a dedicated precious metals specialist. This specialist knows the industry’s intricacies and will work with the investor to help them achieve their financial goals.
Like most precious metals investment firms, Birch Gold charges its clients several fees for the maintenance of their precious metals retirement accounts. These fees include a one-time account setup cost of $50, a wire transfer fee of $30, an annual storage fee of $100, and management fees of $80.
Birch offers a variety of precious metal products, including silver, gold, platinum, and palladium. As with most gold companies, customers can purchase these metals directly or use them to fund an IRA. In addition, once a client decides that they want to offload these metals, Birch Gold can repurchase them through a buy-back program.
Birch Gold caters to a broad demographic of investors with its versatile catalog of precious metals, from gold bars to platinum coins. Overall, this firm is a fantastic choice for anyone looking to start a precious metals IRA armed with the knowledge and experience of industry experts.
With 19 years of experience, Birch Gold has helped thousands of clients reach their financial goals. The company’s extensive history in the precious metals market instills confidence in new investors.
The company offers a broad range of precious metal products, including platinum and palladium bars and coins.
Birch Gold waives fees on transfers and investments exceeding $50,000 for one year.
The firm’s website contains a wealth of information for anyone interested in investing in precious metals.
Some fees may remain hidden. The firm’s website references setup and annual fees but does not disclose specific figures as they are subject to change.
Birch Gold only caters to investors in the United States.
Pricing Requirements When Starting A Gold IRA
Starting a gold IRA involves numerous fees and costs outside purchasing actual gold and other precious metals. Those looking to include a precious metals IRA in their portfolio should expect to incur expenses for the account’s setup, agent commissions, maintenance, storage, and others.
In addition, most firms require a minimum investment of $10,000 to $50,000 from anyone looking to create a gold IRA. However, some companies do not impose such requirements for the purchase of gold and other precious metals.
Gold IRA Setup And Administration Fees
Custodians and administrators of precious metal IRAs charge processing and application fees for creating gold IRAs. Although the actual cost varies depending on the company’s policies, the average price for opening a precious metal IRA is between $50 to $300.
Commissions And Markups On Coins
Administrators charge a commission fee to facilitate purchasing or selling precious metals in a client’s gold IRA. They typically charge these fees, which may be as little as $50, every time a transaction is completed.
Companies also place a markup on the costs from the bullion or coin dealer to turn a profit. The markups on these coins will differ from firm to firm, but most companies have a markup of about 3%.
Yearly Maintenance Fees
Account administrators will charge a client an annual account maintenance fee that covers their various holdings’ processing, distribution, and record keeping. These fees range from $75 to several hundred dollars per year.
An investor’s gold bullion and other precious metals are stored in vaults, safeguarding their investments in a secure and impenetrable facility. Depositories will charge an annual fee that depends on the value of the precious metals stored in their vaults. These depositories typically charge around half a percent to 1% of the value of the stored metals per year.
Other costs that investors should consider are liability insurance and termination fees. Since material assets back precious metals IRAs, a liability insurance policy is necessary to protect them from unfavorable circumstances. Companies often pair the insurance policy with storage fees, which could bump the average costs to $300 annually.
As for termination fees, investors should expect to pay an average of $150 if they choose to close a gold IRA without rolling the investment into a different account.
Final Thoughts - Gold IRA Fees
Although each company on this list provides various excellent services, no other company emphasizes customer service better than Goldco. This firm may not be the most illustrious or flashy company on this list, but its ability to cater to a broad demographic of investors makes up for its shortcomings.
What makes Goldco stand out is its lack of a minimum investment requirement for those looking to start an account. This policy, or lack thereof, allows laypeople to take advantage of the non-volatile nature of gold and other precious metals, providing them access to a road toward financial stability.
The only notable downside of Goldco is its lack of a comprehensive resource or library of information that can help first-time investors know what risks they may face. Besides that, this firm is an excellent choice for investors of all backgrounds to start securing their future.