Many investors are hesitant to keep their money in stocks as the US economy is headed for recession and the stock market heading towards a major crash. Investors are looking for ways to protect their wealth and hedge against market corrections. Many investors choose to invest in gold because of this.
Trillions of dollars worth of investor capital are held in tax-advantaged retirement funds. Investors don’t want to take a penalty or take a tax hit by withdrawing from retirement accounts. How can they invest in gold, if their retirement plan does not offer it as an investment option? A gold IRA is a popular and easy way to invest in retirement assets in gold.
Investors can transfer tax-advantaged assets that they have in retirement accounts to a gold IRA. You can rollover your assets into a gold IRA regardless of whether they are in a 401k, 403(b), TSP or IRA. This will help keep your assets safe and secure. The gold IRA has all the tax benefits of a traditional IRA, and follows the same rules. This allows you to enjoy a tax-advantaged retirement plan that allows you to invest in physical gold bars or coins.
Many companies offer a gold IRA investment option. It can be difficult to know which company to choose. The decision you make can have a huge impact on your retirement.
There are three things to consider when choosing a gold IRA firm: customer satisfaction, track record and price.
- Customer Satisfaction
It can make a big difference to read reviews written by customers who have been there. A company’s customer rating is a measure of how likely it is to provide a pleasant experience.
- Track Record
How long has the company existed? Companies with a long history of customers are more likely to be successful. They are more likely to show respect for their customers, be available if they need them, and show concern for their long-term success.
- Price
Although you want to get as much bang for your buck as possible, price is not the most important factor. You’re investing in an asset that will increase in value. It may be a better decision to spend a little more upfront for better support and service. If there is a significant price difference, it may not be wise to try to be pennywise.
Regardless of all these factors, it is best to trust your gut instincts. You should trust the company that gives you the best feeling. You have your future and your money at stake so don’t be pressured by anyone to do anything you don’t want.
Let’s now look at a few gold IRA companies, compare them using these three metrics and find out which one is the best.
1. Birch Gold Group
- Customer satisfaction
- Better Business Bureau – A+ rating; 5-star consumer reviews; 72 reviews, 0 complaints
- Business-Consumer Alliance – AAA rating; 5-star consumer ratings; 1 review
- Consumer Affairs – 4.9 rating; 107 reviews
- Trustpilot – 4.8 Rating; 61 Reviews
- TrustLink – 5 stars rating; 125 reviews
- These ratings are solid, but significantly lower than those of other competitors.
Track Record
Since 2003, the company has been a precious metals dealer. It is very informative and contains a lot of information about gold IRAs, their benefits and how to get them.
Price
It’s not free to set up an IRA. Birch Gold’s website doesn’t list how much it costs for an IRA to be set up, what account maintenance fees are, or how much custodians charge. The site doesn’t even tell you how much it charges to sell the bars and gold coins it makes.
2. Lear Capital
- Satisfaction of Customers
- Better Business Bureau – A+ rating; 4-star consumer reviews; 8 reviews, 0 complaints
- Business-Consumer Alliance – AAA rating; 5-star consumer ratings; 1 review
- Consumer Affairs – 4.6 rating; 1,049 reviews
- Trustpilot – 4.3 Rating; 364 Reviews
- TrustLink – 4.5 stars rating; 324 customer reviews
Lear Capital appears to have the highest ratings among all the companies that we reviewed, even though its overall rating is lower compared to some of its peers.
Track Record
This company was established in 1997. It claims to be America’s Precious Materials leader. The website contains extensive information about gold IRAs and the many benefits of gold investing.
Price
Lear Capital doesn’t publish information on account setup, maintenance fees, or custodial fees. Although it does have a large selection of coins that can be purchased, not all coins are eligible to invest through a gold IRA. Site warns that metal prices change rapidly and prices may not reflect current market prices.
3. Goldco
- Customer satisfaction
- Better Business Bureau – A+ rating; 5-star consumer reviews; 23 reviews, 0 complaints
- Business-Consumer Alliance – AAA rating; 5-star consumer ratings; 1 review
- Consumer Affairs – 4.9 stars rating; 247 customer reviews
- Trustpilot – Rating: 4.7; 508 Reviews
- TrustLink – 5 Star Rating; 248 Reviews
Track Record
Although the site doesn’t provide much information about Goldco, it does include copyright information that dates back to 2006. You will find extensive information on gold and silver IRAs as well as a blog that is very active and a lot of other content, such ebooks and videos.
Price
Similar to many companies in this industry, Goldco’s website doesn’t provide information on prices for IRA services and coins. However, the company has a good selection of coins. Many aren’t available at other dealers.
4. Money Metals Exchange
- Source: Pinterest
- Customer satisfaction
- Better Business Bureau – A+ rating; 5-star consumer reviews; 67 reviews, 8 complaints
- Alliance of Business-Consumers – not listed
- Consumer Affairs – Not listed
- Trustpilot – no reviews
- TrustLink – no reviews
It is concerning to see so few reviews. The lack of reviews is a concern with so much money at stake. Customers will want to see reviews before spending. It’s difficult to find information on companies on some of the largest review sites.
Track Record
Money Metals Exchange was established in 2010. It appears that there are two brothers in the top management. It’s somewhat perplexing that more information is not available about the company and its leadership, given how young it appears.
Price
Money Metals Exchange does not provide pricing information for IRA products or services. Although it does offer a large selection of coins for sale, these are only available for physical delivery and would not be eligible for an IRA. These coins are priced online and updated each minute to reflect changes in the gold market.
5. Rosland Capital
- Customer satisfaction
- Better Business Bureau – A+ rating; 1-star consumer reviews; 16 reviews, 0 complaints
- Business-Consumer Alliance – AAA rating; 5-star consumer ratings; 8 reviews
- Consumer Affairs – Not listed
- Trustpilot – no reviews
- TrustLink – 4 stars rating; 67 reviews
All you can think of when you look at BBB’s consumer reviews is “yikes.” All reviews are negative, which is in stark contrast to other sites’ reviews.
Track Record
The company was established in 2008, the same year as many of its competitors. It is not as informative as many of its competitors, and it does a lot of self-promotion. It is evident that the company has many partnerships.
Price
Pricing for IRA products and pricing for physical delivery coins are not available online, as is the case with most competitors. For those who are looking for rare coins to invest in, the company offers some intriguing, but presumably very expensive, options.
6. USA Gold
- Source: US Money Reserve
- Customer satisfaction
- Better Business Bureau – A+ rating; 5-star consumer reviews; 31 reviews, 0 complaints
- Alliance of Business-Consumers – not listed
- Consumer Affairs – Not listed
- Trustpilot – Not Listed
- TrustLink – Not Listed
Customers have very few reviews, which is quite surprising considering the company has been in existence for almost 50 years.
Track Record
According to the company, it has been in operation since 1973. It was illegal in the US to possess gold coins at that time. It is family-owned which may explain why it isn’t featured on many review websites. The site’s simplicity and inattention to the many consumer review sites available today might be due to the fact that the head of the family is less tech-savvy and older.
Price
USA Gold provides estimates of annual IRA fees, but you will need to dig a little to find them. It also features prices for the coins it sells and the option to shop online. The company focuses more on direct to consumer sales than IRA services.
The Winner is Goldco
Many of these companies offer similar products and services. It’s not difficult to distinguish their products. Customer satisfaction is the most important factor. This includes the support that you receive while setting up your gold IRA or buying your coins. It also means the support after the fact.
Birch Gold and Lear Capital are the leaders in customer satisfaction. Although Lear Capital appears to have the highest number of reviews, it doesn’t have as high ratings as Goldco or Birch Gold. Birch Gold and Goldco are close in terms of ratings, but we prefer Goldco because it has nearly three times as many total reviews than Birch Gold.
Do your research, compare prices, and choose the company that you are most comfortable with. We think that you will be satisfied with Goldco because of its many satisfied customers. However, you need to make sure you choose the right gold IRA company for you.
