7 Best Gold IRA Companies in 2023
Though many people favor traditional individual retirement accounts (IRA), savvy investors may opt for alternatives, like precious metals. Being a more stable and secure investment, gold and other metals have become a lucrative choice in 2023. Hence, it has become a hot topic, with many IRA companies working on drawing the attention of potential investors.
However, only a few offer beneficial conditions and terms. Knowing them in advance will give you peace of mind that your investment is safe and in good hands.
Read on to learn everything you need to know about the benefits of gold IRAs and the best providers to work with.
Best Customer Support
Goldco
- Over a decade of experience handling Gold IRA accounts
- Low Yearly Fees (with first one waived)
- Exclusive new-client promotions
- Outstanding customer service
Best Pricing
Augusta Precious Metals
- Joe Montana is a corporate ambassador
- One-on-one conference
- Simple account opening process
- Extraordinary customer service
Lowest Fees
Noble Gold Investments
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Precious metals spark images of wealth and prosperity, don’t they? Gold, silver, and platinum have marked wealth and prosperity for centuries, and that’s not likely to change soon.
That makes investing in precious metals an exceptional way to secure your retirement. Gold IRAs might be the key to securing investment for a carefree future. We’ve seen market turmoil too often over the past few decades.
In many cases, it has cost good people large portions of their retirement funds. With the push to diversify and find more stable investments, precious metals emerged as a robust option.
At first glance, a gold IRA may feel like chasing the shiny toy, but if you dig a little deeper, it’s a wise decision. A diverse portfolio is your best defense against market instability, and choosing something that retains value could give you a stronger sense of security.
Of course, as with any investment, there are crooks promising all that glitters only to deliver a poor knock-off. Fortunately, investing in precious metals isn’t new, and the 7 best gold IRA companies have a reliable system, solid business ratings, and long-term customers.
The Best Gold IRA Companies Reviews for 2023
Company
Best For
Goldco
Best Customer Support
Augusta Precious Metals
Best Pricing
Noble Gold Investments
Lowest Fees
Birch Gold Group
Best Customer Service
American Hartford Gold
Lowest Minimums
Advantage Gold
Most Educational
Hard Assets Alliance
Best Security
A Detailed List of the Top Gold IRA Companies
Choosing the best gold IRA companies to work with wasn’t easy, but we narrowed the list to a few select categories to help you decide. From best overall to high-quality customer service, each company on our list contributes something unique to the industry.
We have included the most important information that may interest a potential investor, including key features, pros and cons, and a right-to-the-point description.
Goldco
Best Customer Support
Key Features
- Over a decade of experience handling Gold IRA accounts
- Low Yearly Fees (with first one waived)
- Exclusive new-client promotions
- Outstanding customer service
Important Information
Account Minimum:
$25,000
Fees:
$175-$225/year
Current Promotions:
5% back on metals over $50k
Pros
- Over a decade of experience handling Gold IRA accounts
- Low Yearly Fees (with first one waived)
- Exclusive new-client promotions
- Outstanding customer service
Cons
- Online account setup is not supported.
- Initial IRA deposit of is $25,000.
Augusta Precious Metals
Best Pricing
Key Features
- Joe Montana is a corporate ambassador
- One-on-one conference
- Simple account opening process
- Extraordinary customer service
Important Information
Account Minimum:
$50,000
Fees:
$180/year
Current Promotions:
Fees waived (depending on the investment amount)
Pros
- Joe Montana is a corporate ambassador
- One-on-one conference
- Simple account opening process
- Extraordinary customer service
Cons
- Don’t offer platinum or palladium bullion
- Thorough and transparent process takes slightly longer
Noble Gold Investments
Lowest Fees
Key Features
Important Information
Account Minimum:
$2,000
Fees:
$225/year
Current Promotions:
Incredible precious metals buyback program
Pros
Cons
Birch Gold Group
Best Customer Service
Key Features
- High business ratings from trusted sources
- Educational resources on precious metals and IRAs.
- Competitive Prices
- Excellent customer service
Important Information
Account Minimum:
$10,000
Fees:
$180/year
Current Promotions:
Receive $1,000 in free silver (depends on investment amount)
Pros
- High business ratings from trusted sources
- Educational resources on precious metals and IRAs.
- Competitive Prices
- Excellent customer service
Cons
- Only available to customers in the U.S.
- $10,000 minimum for non-IRA purchases
American Hartford Gold
Lowest Minimums
Key Features
- Low investment minimum
- A+ rating with Better Business Bureau
- Low annual fees
- Price match guarantee
Important Information
Account Minimum:
$10,000
Fees:
Up to $150/year (charged by the custodian)
Current Promotions:
Receive up to $1,500 in free silver (with a qualifying purchase)
Pros
- Low investment minimum
- A+ rating with Better Business Bureau
- Low annual fees
- Price match guarantee
Cons
- International investment options are limited
- Only available for U.S. customers
Advantage Gold
Most Educational
Key Features
- Buyback services available
- U.S. Mint approved dealer
- Exceptional customer service
- Easy to liquidate your investment retirement account.
Important Information
Account Minimum:
$25,000
Fees:
$225/year
Current Promotions:
Invest $50,000 (waives all fees for the first year )
Pros
- Buyback services available
- U.S. Mint approved dealer
- Exceptional customer service
- Easy to liquidate your investment retirement account.
Cons
- Online purchase not available
- A relatively new company
Hard Assets Alliance
Best Security
Key Features
- Competitive pricing
- Easy to open an account
- Different account types
- Great storage options
Important Information
Account Minimum:
N/A
Fees:
Storage Fees: 0.7%/year
Current Promotions:
$5/month minimum per account; waived for accounts with MetalStream activated.
Pros
- Competitive pricing
- Easy to open an account
- Different account types
- Great storage options
Cons
- No transparency
- Lack of customer service
What is a Gold or Precious Metals IRA?
An IRA, or individual retirement account, is meant to see you through the retirement years. Traditional IRAs can involve various investments, like a 401(k) program, while gold and precious metal IRAs rely on stocks in gold companies or physical products, like coins.
Benefits of Having a Gold IRA
Investing in precious metal IRAs could carry significant benefits if you handle them properly. Keep in mind that precious metal IRAs, like any other investment, should only make up part of your portfolio.
Tax-free growth
Though the IRS has guidelines and rules for gold IRAs, they also provide some special benefits for using them. Contributions are tax-deductible, and you have some tax-free rollover options.
Security
As we’ve seen time and again, banks, stocks, and paper money can rise and fall. Gold and other precious metals offer more security in uncertain times because they remain almost universally coveted.
Diversification
Spreading your investments around and choosing a combination of assets builds a more diverse portfolio. The diversification approach limits the risk of loss and helps you survive any market volatility.
Capital appreciation
Gold prices change like anything else, but they trend toward increases, often substantial, making them a solid investment plan. Likewise, other precious metals follow a similar trend, though they all differ slightly.
Limit inflation
Though gold prices trend upward, they usually run opposite paper money and stocks, meaning they may protect you against inflation. When stocks and other paper assets plummet, you can rely on precious metal IRAs to hold their own and keep you afloat.
Gold IRA Rules & Regulation
The best gold IRA companies know the rules and regulations so that they can stay in business. However, as the investor, it helps to have an idea about what to expect before you enter into an investment.
Gold standards
We’ve come a long way from the days of the 49ers prospecting for gold, but just like those days, investors have standards. You can’t use just any gold for an IRA, it must meet requirements outlined by the Internal Revenue Service (IRS), including a minimum fineness.
Unfortunately, not just any gold qualifies for an IRA. Even some of the most valuable collector’s coins fall short of the minimum fineness ratings, making them collectibles instead of assets.
Gold and other precious metals must meet fineness standards of .999 or 99.9%.
Purchase through a custodian
Also, unlike the prospectors of old, you can’t take any gold you find or possess and shift it into an IRA. You must purchase precious metals through an IRS-approved custodian.
Special storage
If a gold IRA gives you the image of opening a lockbox in your home whenever you feel the need to gaze upon your investment, you are in for a surprise. The physical gold, or other precious metals, must remain within a bank or IRS-approved trustee.
Many providers allow you to choose segregated or non-segregated storage. Segregated storage means your precious metals have their own space in the facility, while non-segregated vaults contain gold belonging to several people.
Required minimum distribution
Like most IRAs, gold and precious metals have required minimum distributions (RMD). While it may not be an issue some years, other years you may end up struggling to sell the gold at an optimal time to meet that minimum and avoid penalties.
FAQ’s
Once you determine that a gold IRA is right for you, it helps to know how to set on up. Though you may not want to rush into anything, you be surprised by how easy it is.
How to Invest in a Gold IRA
Once you determine that a gold IRA is right for you, it helps to know how to set one up. Though you may not want to rush into anything, you may be surprised by how easy it is.
Step #1: Choose a gold IRA provider
Since you need to go through an IRS-approved custodian, that’s the best place to start. It’s important to find a reputable company to work with but note that some brokers may suggest custodians they know.
Doing your homework is crucial to protect yourself and your investments. Since you’re developing a self-directed IRA, many firms don’t offer support for choosing a gold broker or custodian.
As you research companies, don’t be afraid to ask questions and dig deep.
- Look for transparency, especially regarding fees and minimum thresholds.
- Check the company’s history from objective sources, like the Better Business Bureau and other review sites.
- Make sure the company possesses all necessary licenses, registration, and insurances. Remember that the company must be IRS-approved to handle a gold IRA.
As a final note about choosing a provider, don’t underestimate your gut feeling. If a company seems too good to be true or doesn’t seem to offer a personal experience, it may not be the right fit.
Step #2: Begin rollover or transaction process
Establish the self-directed IRA account and set up your contribution. You could also roll over funds from qualified plans. Make sure you meet all minimums and work within the established contribution limits.
Step: #3: Invest in gold or precious metals
While you can’t buy just any gold or silver, you have some options. Depending on the provider you chose, they may provide you a selection of dealers to use. Again, everything you purchase must meet the IRS guidelines to work for a gold IRA.
Best Customer Support
Ranked #1 for Best Pricing
When it comes to customer service, fees, safety, and overall customer satisfaction, Goldco checks all of the boxes.