Opening a Precious Metals IRA Account? | Here’s 6 Precious Metals IRA Providers

Who would have thought that in 2022, buying gold coins and bars would still be considered one of the best investment choices you can make? However, that is exactly how things stand as investors are realizing the benefits of having more than one IRA account dedicated to precious metals.

Just looking at the sudden increase in gold IRA companies featured in many financial reviews and advice columns is a sign that physical gold is surely worth considering for any retirement account holder.

However, the benefits of investing in precious metals can only be fully realized when one puts their trust in the right gold IRA custodian. The wrong choice of gold IRA company can lead to huge financial losses for the investor.

It is only by partnering with the best gold IRA companies can you take full advantage of having a few gold or silver coins and bars in your safe deposit box. This article will look at six of the best gold IRA companies to consider in 2022.

Precious Metals IRA Companies To Consider

Opening a Precious Metals IRA Account

Finding the best precious metals IRA company is not an easy thing to achieve when you have so many options placed before you.

However, we have made the choice much simpler for you by identifying six gold IRA companies that have demonstrated extensive knowledge and experience in precious metal IRAs.

Choose any one of the following gold IRA companies to help you open your gold and silver backed IRA:

Goldco Precious Metals

Goldco

Right at the top of our list is Goldco, a company with over 10 years of experience in the gold investment industry. If you want your gold IRAs to be in good hands, this is the company to choose.

One of the things we loved about Goldco was that The employees had excellent levels of customer service. There weren’t any high-pressure sales tactics that are so common in the industry these days.

Everything you need regarding opening and running gold IRAs is provided to you by a panel of industry experts that are always ready to assist.

What makes Goldco our top pick is that it manages to provide a comprehensive service that covers all the needs and wants of the investor.

This is one of the reasons why Goldco is highly rated and recommended by various platforms, such as the Better Business Bureau and the Business Consumer Alliance.

Key Features

  • Great value on its buyback prices

  • A wide range of useful promotions

  • Rated AAA by Business Consumer Alliance and A+ by the Better Business Bureau

  • Great service from the sales and marketing team (no high-pressure tactics)

  • Free gold IRA rollover advice

The Downside

  • A high minimum investment of $25,000 is required from all new precious metals IRA investors

  • Read our full Goldco review for more information.

Augusta Precious Metals

Augusta Precious Metals

One thing that you want to guarantee when you choose a precious metals IRA company is that you will be able to find all the precious metals you need.

This is exactly what you get when you register your gold IRA with Augusta Precious Metals.

All the IRS-approved gold coins and bars are listed on the company’s website for you to browse through and choose the ones you want. As if that is not enough, you will also get the benefit of great customer service.

The custodial fees are quite reasonable considering that you are getting top-tier gold IRA services from such a reputable company. If you are willing to pay the rather high minimum investment of $50,000, then Augusta Precious Metals is a perfect choice.

Key Features

  • Wide selection of precious metals

  • Great reviews from customers and an A+ Better Business Bureau rating

  • Low custodial fees with a reimbursement option after 10 years

The Downside

American Hartford Gold

American Hartford Gold

Many people would be forgiven for thinking the precious metals industry is reserved for the elite only, thanks to some of the required minimum investments for some of these gold IRA companies.

However, American Hartford Gold is different because all you require is $10,000 to get started. With that, you get the benefit of working with some of the industry’s leading experts who can help you make solid investment decisions.

American Hartford Gold also has a wonderful buy-back option that will allow you to bring back the precious metals you purchased and sell them back to your custodian.

Key Features

  • Low minimum investment requirement of just $10,000

  • Great customer reviews across many platforms

  • Many years of experience in the gold industry

  • Great perks such as the buyback option

The Downside

  • Does not provide international depository services

Birch Gold Group

Birch Gold

One of the biggest costs you have to deal with is the transportation of your precious metals from your custodian to the depository of your choice.

The expensive nature of these products makes them targets for criminals, making any transportation costs you pay will be high.

However, Birch Gold Group works differently by offering you free shipping for any purchases you make that are valued at over $10,000.

If you can get your investment up to $50,000, you will have a lot of special perks and discounts that are reserved for the company’s biggest customers.

You can browse through the extensive list of precious metals offered by Birch Gold Group in the comfort of your home, thanks to the great website that the company has.

Key Features

  • Free shipping services on any purchases over $10,000

  • Investments of over $50,000 come with perks, such as waiving certain fees

  • Wide range of educational resources

  • Great website with an easy-to-use interface

  • Just $10,000 is required as a minimum investment

The Downside

  • Their dealings are restricted to US citizens only

Noble Gold

Noble Gold

Noble Gold is one of the most well-known providers of gold IRAs in the country thanks to its many years in the business and reputation for having one of the widest selections of precious metals.

If you are considering funding your gold IRA using a rollover from an existing IRA account, Noble Gold is an expert at this.

The company will assist you every step of the way, making sure you take full advantage of the many tax benefits that come with having a self-directed IRA account.

Key Features

  • Wide range of precious metals

  • Many approved gold depositories, including one in Texas

  • Offers great investment opportunities and advice for long-term wealth creation

  • Experts at conducting gold IRA rollovers

The Downside

  • No international deliveries or storage services

Advantage Gold

Advantage Gold

Insurance is one of the most important things you must insist on when investing in high-value items such as precious metals. This is why Advantage Gold is the go-to gold IRA company for most investors in the business.

As one of the most successful companies that deal in precious metals, Advantage Gold gives you the confidence to invest as much as you can.

If you are a gold investor from outside the US, you will be pleased to know that Advantage Gold has international delivery services that are tailor-made for customers such as you.

Key Features

  • One of the most successful gold, silver, platinum, and palladium companies

  • Insured against theft and destruction of precious metals

  • Has an international delivery service

  • The fee structure is transparent

The Downside

  • Its gold prices tend to be higher than the spot price

IRS Rules for Precious Metals IRAs

IRA Rules

Some of the things that make many potential investors think twice before they purchase precious metals are the strict rules imposed by the IRS.

One of these rules states that any investment in physical gold coins and bars is considered to be an acquisition of a collectible asset.

This means that the transaction can be regarded as a taxable distribution and has the effect of preventing traditional IRA accounts from funding the purchase of any coins made from precious metals.

The result of this was that anyone who wanted to invest in gold and silver had to purchase precious metals directly from gold dealers and find their storage solutions.

However, Congress came to the rescue of gold IRA companies and investors by ruling that certain precious metal coins and bars could be included in a gold IRA as long as they met the standards of purity set by the IRS.

These IRS-approved coins and bars would also be kept only at an IRS-approved depository, meaning no investors would be allowed to keep their silver and gold bullion.

With these regulations, it is now easier to approach a gold IRA company and open a precious metals IRA account by doing a gold IRA rollover of funds from an existing 401(k), Roth IRA, or Traditional IRA.

IRS-Approved Physical Precious Metals

If you are wondering what kind of gold, silver, platinum, and palladium coins and bullion bars are eligible for gold IRA investments, the following are examples of IRS-allowed precious metals:

Approved Gold and Silver Coins

Any bullion coins that are to be included in a new gold IRA account must meet the standards of purity and authenticity as well as be from an IRS-approved mint. These are some examples of such coins:

  • American Eagle coins

  • Australian Koala bullion coins

  • Mexican Silver Libertad coins

  • Canadian Maple Leaf coins

  • Austrian Philharmonic gold and silver coins

Approved Bullion

All precious metal bullion must meet the following standards of purity:

  • 99.5% for gold, platinum, and palladium bullion

  • 99.9% for silver bullion

What Do Financial Advisors Say?

Traditionally, a financial advisor was more likely to recommend investing in paper assets, such as stocks, mutual funds, bonds, and ETFs rather than approaching gold IRA companies to buy precious metals.

However, the recent economic downturn and stock market volatility mean that a lot of the investment advice being offered to investors is leaning towards a diversified portfolio that includes having a precious metals IRA.

Cautious investors who are interested in having secure investment portfolios have been flocking to gold IRA companies over the past couple of years, and if the situation regarding our global economy remains unchanged, they will continue to do so.

Advantages of Precious Metal IRAs

Having a diversified investment portfolio that features precious metals has a lot of benefits to the investor, which are:

  • Gold, silver and other precious metals are highly stable commodities that will act as a hedge against inflation

  • There is huge potential for the growth of precious metals investments

  • Gold and silver bullion has a high demand globally

  • All gains from your gold IRAs are tax-deferred

  • Any precious metal, such as platinum and palladium, is easy to sell meaning that your assets are highly liquid

  • Precious metals have a wide range of useful applications in the industry

Choosing A Reputable Precious Metals IRA Company

Before you can become a gold IRA holder, you have to carefully select the gold IRA company you will entrust your funds. While every investor hopes to team up with the best gold IRA companies around, some will be the victims of scammers and unreliable gold dealers.

(Courtesy of our top recommendation, Goldco.)

When choosing your gold IRA company, keep the following in mind:

  • Choose a gold IRA company with a good track record and reputation for good customer service

  • Look at the selection of precious metals the custodian has

  • Ask about the custodial fees and watch out for hidden fees and costs

  • Be sure the custodian works with an IRS-approved storage facility, such as the Delaware depository

  • Inquire about storage fees, transportation of precious metals, and insurance against theft and destruction

  • The best gold IRA company will have plenty of knowledge regarding IRS regulations, tax benefits, gold IRA rollover requirements, and the right precious metals to choose

  • Ask about perks such as buy-back options and the return policy

Invest in Gold Bullion Today!

With so many reputable gold IRA providers available, there is no reason to hesitate any further about investing in gold.

Join the exclusive group of gold IRA investors who are making an absolute killing in the precious metals industry.

Any one of the gold IRA companies we reviewed in this article would be a great choice to help you on your investment journey. Take the first step and invest in gold today!

Goldco