With rising year-on-year inflation, investors are looking for ways to hedge their wealth or retirement funds. They are looking to invest in areas that will protect their savings and wealth while providing a relatively good return on investment.
One option many have taken is to invest in gold and other precious metals such as silver and platinum. Gold has proven to be a good hedge against inflation during economic uncertainty. It is also widely recognized as a store of value and can be used as a means of exchange, like currency.
However, setting up a self-directed Gold IRA account can be a daunting task, as it requires knowing all the IRS guidelines, finding a trustworthy and approved depository and custodian, and then finding a gold dealer or way to buy the gold. This is where gold IRA companies come in.
What is a Gold IRA Company?
A Gold IRA Company is an organization or a firm that provides investors with a way to invest in precious metals. These companies will help with the initial and ongoing process of setting up an account by doing all the administrative paperwork and communicating with the Internal Revenue Service on your behalf.
Advantages of using a Gold IRA Company
The advantages of using a Gold IRA company are numerous. First, they will buy gold bullion and coins at current market prices. This means you don’t need to worry about securing a high enough margin profit from purchasing the gold and selling it at a higher price. They will then store the precious metals in a vault or depository that the IRS approves for your account.
Another advantage is that they provide support for administrative paperwork, such as filling out the required forms and updating them when needed. They also offer support in finding an approved depository that the IRS accepts, which can be challenging to find on your own.
Once an account is set up, all the investor needs to do is monitor their Gold IRA investment’s performance and review the company’s fees and expenses.
What Are The Best Gold IRA Companies?
Now that you know what a Gold IRA company is and the benefits it could give you, let’s look at the top three gold IRA companies so you can make an informed decision of which one to choose.
1. Goldco
The first on our list is Goldco, which has been in business for over a decade, making it one of the most reliable and trustworthy Gold IRA companies. They have earned an A+ rating from the Better Business Bureau and AAA for their overall quality of service.
Goldco has an in-house vault and storage facility in California and a Compliance Administrator responsible for maintaining accurate records of Goldco’s clients’ holdings. Goldco also provides their investors with the necessary paperwork to complete for setting up an account and also offers tax-free IRA distribution to clients.
They have an information-packed website and customer support that will guide you through the process from opening your account to funding it from your 401(k) or any other account. They also offer investment ideas and strategies and even have a store where you can purchase bullion coins and bars.
Goldco provides all the information required to help you make an informed decision when investing in the precious metals market. They are on top of our list because they are amongst the most well-established firms in this industry and have also been around for a while, which means they have built a good reputation and understand what their clients want.
2. Augusta Precious Metals
Also among the top Gold IRA companies is Augusta Precious Metals, which offers IRA services to investors through self-directed IRAs. This means you will open a self-managed account that allows you to take full control over your portfolio and investment choices.
They offer IRA gold bullion accounts to clients and are FDIC-insured. They are also FINCEN-certified, so they will not ask for additional tax requirements for purchasing gold bullion with your IRA funds.
Another perk to using them is that they charge no fees for purchasing the precious metals, and customers can buy up to $5,000 worth of gold every month without paying any transaction fees. They have very low fees compared to other IRA companies, and you can get their fee structure from their site.
Augusta works with a different company to store your gold, Delaware Depository, a well-known storage facility. This means they have partnered with a best-in-class organization in the precious metals market, which helps provide peace of mind knowing your bullion is in safe hands.
3. Birch Gold Group
Next on our list is Birch Gold Group (BGG). This company offers IRA services for retirement investors and aims to give clients what they want by being trustworthy and doing things the right way.
They offer IRA gold service options that you can use to invest in gold bullion and coins, as well as precious metals such as silver, palladium, platinum and more. They offer storage methods such as Safe Deposit Boxes, Gold Bullion Vaults and Coin Vaults. These allow you to store your precious metals safely and securely.
BGG has some of the most competitive fees among its competitors. The fees vary between 0% to 0.25%, no matter how much or little money you put into your account. They also offer a Free Gold Kit that includes gold coins and rounds and will educate you on how to invest in precious metals.
In addition, they provide personal service to their clients and offer regular newsletters, tips, other news related to investing in gold and strategy sessions with industry experts.
These are just some of the top companies that offer Gold IRA services. You should always take the time to do your research and ensure you find a reputable company to invest in precious metals.