You can’t use a conventional IRA if you decide to invest in gold or other precious metals. Instead, you’re required to open a self-directed precious metals account.
This self-directed IRA is different from your employer’s retirement account because you can decide what investments to purchase. You’re provided with the option to purchase alternative investment types with a self-directed IRA. These include real estate, art, precious metals, and cryptocurrency.
Nonetheless, buying alternative investments is a challenging endeavor. That’s why you want to use a trustworthy firm with experience in precious metals. I’ll be taking you through a comprehensive Guidance Corporation review to determine whether this is a trustworthy firm to facilitate your precious metals IRA investments.
Remember that this information on what Guidance Corporation offers is my own experience. You should your own investment golds and circumstances to make an informed decision before you begin investing in any gold IRAS.
What Is the Guidance Corporation?
The Guidance Corporation is an investment company located in Minnetonka, Minnesota that provides a full range of precious metal investments. Buyers have the opportunity to purchase bullion, palladium/rhodium, platinum, silver, and gold on the Guidance Corporation website.
Also, the platform lets people sell their precious metals to Guidance Corporation. Investors and coin collectors can contract Guidance Corporation’s licensed coin experts to help them find the right coin for their specific investment goals. These IRA experts can help beginner investors open a gold IRA. I specifically liked the inclusion of precious metal experts because it helped me make more informed decisions about these investments.
History and Company Info About The Guidance Corporation
Rather than employing salespeople working on commission, the Guidance Corporation claims to keep prices low by keeping the business in the family. That’s why, since it was founded in 1989, the company has remained family-owned and operated.
As licensed bullion dealers, the company’s coin experts are also members of the American Numismatics Association. New investors can receive evidence of these experts’ certifications and license information upon request.
Ratings and Complaints Regarding the Guidance Corporation
Known for its excellent customer reviews, the Guidance Corporation earned Better Business Bureau accreditation in November 2021. Moreover, the Guidance Corporation gained an A+ rating from the Better Business Bureau and has more than nine customer reviews that have awarded the company’s excellent customer service with a five-star average rating.
When I read customer reviews on the Better Business Bureau site, I noticed that many customers liked the company’s quick shipping times, quick response times, and excellent customer service.
The Guidance Corporation’s Facebook page includes one legitimate review from a customer who appreciated its fast three-day shipping. The company’s reputation on Birdeye.com was also given a 4.5 out of five-star rating.
However, no reviews are available about the Guidance Corporation on Trustpilot. Additionally, there are some customer complaints on Birdeye.com.
I read one of these reviews that was from a customer who stated that they had never received the coins they ordered. More complaints mentioned slow shipping to certain areas and poor packaging.
Who Is Part of the Guidance Corporation Management Team?
Being a family-owned business, the Guidance Corporation management team is small and consists of Josh and Bruce Diker.
Who Is Bruce Diker?
Bruce Diker is the founder and president of the Guidance Corporation. He’s registered as a Bullion Coin Dealer Representative in 2016.
Who Is Josh Diker?
Known as the Managing Partner at the Guidance Corporation, Josh Diker is also the Chief Operating Officer. He oversees management, pricing, and operations. Before he became the Guidance Corporation’s COO, he worked as Well Fargo’s Regional District Manager. Diker has also worked for JP Morgan Chase and BBVA.
Signing Up with the Guidance Corporation
New customers need to call or email the Guidance Corporation if they want to sign up for a Gold IRA or are interested in purchasing precious metals.
Consultation with the Guidance Corporation
If you’re a new investor who wants to set up a consultation with one of the company’s IRA experts, you can fill out the online form, call, or send an email to request an appointment.
Contact the Guidance Corporation
Prospective customers may start their investment journey by filling out an online form and requesting a callback. Otherwise, these customers can contact Guidance Corporation through the company’s toll-free number or by emailing Bruce Diker at firstname.lastname@example.org.
Setting Up Your Guidance Corporation Account
After reviewing the Guidance Corporation’s account setup, I found that these are the steps you need to follow:
Step One: Fund Your Account
New investors seeking to fund their new Gold IRA account can do so by purchasing approved precious metals like gold through the Guidance Corporation. I noticed that once these gold products are bought, they aren’t shipped to me directly.
This is specifically done to comply with IRS regulations. Instead, the online dealer ships these Guidance Corporation products directly to the selected custodian.
I could also easily fund my new Gold IRA through Guidance Corporation with a manual cash deposit, which the precious metals dealer helped me with. The licensed bullion dealer can also assist you by rolling over or transferring funds into your IRA account.
Step Two: Purchase Gold for Your Account
When purchasing gold and other precious metals, you can either contact the Guidance Corporation for assistance or make these investments online. I found that the Guidance Corporation supports the following payment options when you buy gold through the company:
- Debit and credit card
- Paper check
- Wire transfer
All the debit and credit card transactions I made through the platform were charged a 4.75% fee. I could also make transactions of up to $50,000 with my debit and credit card.
The Guidance Corporation partners with Plaid for all ACH transactions. Plaid is a third-party bank connection service. When I made a purchase through ACH, I needed to authorize Plaid to complete the ACH transaction.
Step Three: Complete the Delivery and Storage Process of Your Gold and Precious Metals
You’ll need your own safe deposit box in a registered bank if you want the Guidance Corporation to ship the gold directly to you. However, the precious metals dealer typically needs to ship the gold to the custodian.
That’s because IRS regulations state that gold must be stored in an approved depository insured against theft, fire, and other losses.
Nonetheless, I got in contact with them about storing these newly purchased gold coins for my gold IRA in my own bank’s safety deposit box, and the process was hassle-free.
Precious Metal Products Offered by Guidance Corporation
The Guidance Corporation provides new customers with the option to purchase gold, platinum, silver, world gold bullion, palladium/rhodium, and pre-1933 gold.
Interested buyers can purchase best-selling products from the Guidance Corporation, which include:
- South African Krugerrand coins
- Australian Kangaroo coins
- Silver Britannia coins
- Canadian Maple Leaf
- American Platinum Eagle coins
- Mexican Gold Pesos
When looking to purchase these coins, I saw that the Guidance Corporation offers a box of 500 rare coins called the monster box. These monster boxes let you purchase many of these popular coins. I really liked this concept because purchasing one monster box took the hassle out of choosing from all these rare coins.
The Guidance Corporation, like other gold IRA companies, also provided me with platinum and palladium products from across the world. You also have access to bullion products from sovereign mints and many types of gold. These include:
- South African gold
- British gold
- North American gold
- Italian gold
- Dutch gold
- Austrian gold
- Belgian gold
- Finnish gold
- Russian gold
- Tunisian gold
- Hungarian gold
- French gold
- German gold
The Guidance Corporation – Shopper-Approved IRA Provider Products
I needed to purchase IRA-approved precious metals because I wanted to store these investments in a precious metals IRA. If you’re in the same position, the Guidance Corporation provides popular IRA-approved products, which include:
- South African Mint Gold
- Perth Mint Gold Bullion
- Perth Mint Platinum Bars
- Royal Mint Platinum and Gold
- Platinum Canadian Maple Leaf Products
- Royal Canadian Mint Silver
- United States Mint Silver
- Chinese Mint Silver Bars
- Austrian Mint Sealed Platinum
- Mexican Mint Gold Bars
- American Gold Buffaloes
- Russian Mint Palladium Ballerina
- Silver American Eagle Rolls
- American Gold Eagles
All IRA-approved gold needs to meet a minimum fineness standard. I had a ton of questions about IRA-approved precious metals, which I addressed with an IRA expert at the Guidance Corporation. He helped me understand this process better.
I also found out that the Guidance Corporation sets a minimum purchase amount depending on the type of product you want to purchase. This is something you want to be aware of when buying.
The Guidance Corporation Custodian and Storage
Customers who want to set up their Gold IRA can contact the Guidance Corporation. Precious metals IRA experts provided by the company help customers invest and grow wealth. These precious metals IRA experts help new investors complete the necessary paperwork to open a new IRA account.
Once you’ve opened your Gold IRA program or another precious metals account, you’ll choose an approved custodian to manage this account. Investors make the investment decision while the custodian sees the transaction through when using a self-directed IRA-approved precious metals account.
The IRS requires investors who buy precious metals to store these investments in an approved depository. An example of these approved depositories would be a safe deposit box in an FDIC-insured bank.
When using the Guidance Corporation as your precious metals company, you’re recommended approved custodians and depositories to securely manage and store your gold and other precious metals.
Moreover, the Guidance Corporation works with highly rated precious metal custodians. This includes Kingdom Trust, GoldStar Trust, Strata Trust, Equity Trust, and the Entrust Group. When you buy any gold or other precious metal products from Guidance Corporation, the precious metals dealer ships the products directly to the custodian.
Guidance Corporation’s Buyback Policy
I thoroughly enjoyed Guidance Corporations’ customer satisfaction guarantee. The company’s operations include a buyback policy, which means that the dealer will buy any coin they sell. If you’re interested in selling coins or precious metals from other deals, Guidance Corporation offers to buy these coins from you for a fair price.
Precious Metal Prices
When I bought from the Guidance Corporation, I found that the website provided live and real-time pricing based on the precious metals market. The company offers the lowest prices. According to the website, the company claims to match or beat any competitor’s prices.
Guidance Corporation Fees
The team does charge fees related to debit and credit card transactions. Fees are also charged for returned checks. I also needed to contact the Guidance Corporation to find out about any fees associated with opening and funding gold IRAs.
The Guidance Corporation Website
I found that the Guidance Corporation offers an easy-to-navigate website offering live pricing and a user-friendly storefront. Visiting the site as a potential buyer, I could easily add products to my cart and check out without needing to contact the dealer.
Some customer education material is available in the section focused on Guidance Corporation’s IRA program. All of my basic customer questions were answered in the FAQ section. However, I did need to contact the company directly for more in-depth help.
Here are the pros and cons I found when using the Guidance Corporation website:
- The company is licensed and Better Business Bureau-accredited
- It’s equipped with a rare coins locator service
- Price-matching is available for fair pricing
- The website facilitates live pricing
- You can easily navigate through the precious metal dealer’s website
- Added convenience is provided with the flexible buyback policy and customer satisfaction guarantee
- Many customer reviews praise the company for its customer service and fast shipping
- Guidance Corporation has many years of experience in the precious metals marketplace
- There’s a large inventory of rare and popular precious metal products
- There are some customer reviews that mention no response to complaints and slow shipping
- Guidance Corporation doesn’t have a listing on Trustpilot
- Even though the company is more than 30 years old, there are very few customer reviews online
- No IRA fee schedule is posted on the company’s website
Concluding the Guidance Corporation Review
The Guidance Corporation is a compelling option for those who want to start investing in precious metals. I really liked the company’s wide array of products including both rare and popular coins, which showcases Guidance Corporation’s commitment to providing options for a diverse set of investment goals.
One noteworthy aspect of Guidance Corporation that I want to mention is the company’s claim to offer the lowest online prices. This further highlights the business’s commitment to offering competitive pricing for customers. Not only is this a good opportunity for potential customers, but it has a significant impact on an investor’s bottom line.
Having an emphasis on live pricing continues to set this precious metals dealer apart. That’s because investors, like myself, are empowered to monitor and respond to any fluctuations in precious metal prices in real time. With this timely information, I’m better prepared to navigate the volatile precious metals market and make more informed decisions.
Another great aspect of the Guidance Corporation is its “Gold IRA” program, which makes it easy for those who want to open a Gold Individual Retirement Account. Opening and funding my gold IRA account was easy with Guidance Corporation and I was informed about all the aspects involved thanks to the experts provided by the company.
With the Gold IRA program offered by Guidance Corporation, I was able to combine the tax advantages of an IRA with the stability of precious metals to really get the most out of my investment. Its easy-to-use website and resourceful investment experts make investing with Guidance Corporation an excellent option that I would recommend to those interested in fortifying their retirement portfolios with tangible assets.