Which Gold IRA Dealers Should You Avoid in 2024 ?

Not all U.S. based Gold IRA companies are the same. We bring you this gold IRA comparison guide to help you find the most reliable and safest one to work with.
buyer beware written on an ipad above a cautious sign and a stack of gold bars

GOLD IRA COMPANIES TO AVOID

  • Regal Assets
  • Kingold
  • The Tulving Company
  • Northwest Territorial Mints

WE CANNOT RECOMMEND THE FOLLOWING FIRMS

  • Lexi Capital
  • Money Metals
  • Lear Capital

DEALERS WE HAVE NOT AUDITED YET

  • Speedy Metals online
  • Fortress Gold Group
  • Provident Metals
  • Bullion Max

Best 2024 Gold IRA Scam Checklist

Augusta Precious Metals' checklist gives you great knowledge on how to avoid Gold IRA scams, lies & gimmicks used by precious metals dealers in an unregulated industry. Discover how their salespeople trick you!

Our Top 3 Gold IRA Dealers for 2024

BEST FOR BEGINNERS

Birch Gold Group a precious metals ira company
  • Platinum & palladium available
  • IRS-approved storage option
  • Transparent costs
  • Buyback quote upon request
  • In business since 2003
  • Good user feedback
  • Great informational guide
  • A+ on BBB
BEST OVERALL OPTION
augusta precious metals ira company
  • Account lifetime support
  • IRS-approved storage facilities
  • Only 15 minutes to get started
  • Low-cost & transparent fees
  • 10 years fees reimbursed*
  • Fair-value on acquisitions
  • No-cost 2024 information kit
  • A+ on BBB

OUR THIRD CHOICE

Noble Gold Company logo with background
  • High-quality client care
  • Transparent annual fees
  • 20 years of experience
  • Simple account signup process
  • Good investment guide
  • Photographic proof of purchase
  • Easy withdrawal process
  • A+ on BBB

3 Most Reliable Precious Metals IRA Companies Compared

We focus on:

Quality of their guide

Audits

Fees

Business' score

# of complaints

Years in Business

The most important consideration is the integrity and reputation of the gold IRA company you will entrust to acquire your precious metals. Avoid any dealer with too many complaints and low ratings.


The Safest Gold IRA Dealers Compared


Name & Logo

Guide Available?

BBB score

Consumer Affairs

Google's score

# of complaints

Costs (total)

1

augusta precious metals ira company

Yes

A+

4.97/5

4.9/5

4.9/5

0

$250 per year

(account setup cost included)

2

Birch Gold Group a precious metals ira company

Yes

A+

4.72/5

4.8/5

4.8/5

11

$280 per year

(account setup cost included)

3

noble golds logo a precious metal individual retirement account company

Yes

A+

4.98/5

4.9/5

4.9/5

4

$230 per year

(does not include custodian fees)

Types of Retirement Account Eligible for a Rollover into a Gold IRA

Moving the funds from an existing retirement account like a Roth IRA or an old 401(k) to a gold IRA, is called a rollover or transfer. Rollovers and transfers are the same thing, when you move your money, both allow you to preserve the tax-deferred status and avoid early withdrawal penalties.


Traditional IRA

Roth IRA

SEP IRA

Simple IRA

457(b)

403(b)

401(k)

Solo 401(k)

HSA

TSP

414(h)

SDIRAs

OPENING A GOLD IRA

Step by Step

1.

Choose a reputable gold IRA company to work with using the table above.

2.

Request their gratuitous guide also called "investor's kit" to learn more about their fees and the precious metals IRA industry.

3.

Open your account: the company you chose will match you with your preferred custodian (we recommend Equity Trust). Some gold dealers also act as custodian, they will handle all the paperwork for you.

4.

Fund your newly opened gold IRA account with a cash contribution, a rollover or a transfer and acquire your precious metals.

Get Your Checklist Now

Request this detailed checklist now to gain essential insights into avoiding scams, deceptions, and ploys used by precious metals dealers in an unregulated industry. Uncover the truth about the manipulative strategies of their salespeople!

Recommended self-directed IRA custodians

A self-directed IRA custodian holds and administers your account in such a manner that it remains compliant with government and IRS regulations and laws. Not all self-directed IRA custodians are created equal. Before you entrust your retirement funds to any custodian, do your due diligence. We recommend the following companies.
  • Equity Trust
  • Advanta IRA
  • Strata Trust
  • IRA Financial
  • Directed IRA
  • The Entrust Group

Investing in Precious Metals with a Self-Directed IRA Explained by John Bowens from Equity Trust.

PRECIOUS METALS IRA FAQs

Who is Eligible for a Gold IRA?

Generally, to be eligible for a gold IRA, all you need is to be an individual who has earned income.

What Types of Retirement Accounts Are Eligible to Rollover to a Gold IRA?

Most retirement accounts are eligible to roll over to a gold IRA, including 401k, traditional IRA, Roth IRA, SEP IRA, 403b, 457, and Thrift Savings Plans (TSP). Your gold IRA account specialist will let you know if your plan is eligible.

Should I Really Invest in Gold?

More and more retirement savers are adding gold to their investment portfolios because its value isn't affected by market instabilities. Hence, it makes a suitable choice to diversify their nest egg and protect against inflation while still being highly liquidable.

What Does a Gold IRA Cost?

Gold IRA costs vary by company. However, some common costs to expect with your account include an account set-up fee, a wire one, and markup costs.

Your custodian will also typically charge a yearly amount of about $120 or more for safekeeping and insurance costs, financial statements, and unlimited access to your account. Most gold IRA companies also have a required investment minimum.

Are There Penalties for Moving Funds From an IRA or Other Retirement Plan to a Gold IRA?

There are no penalties or taxation for moving funds from an IRA to another retirement plan, provided the amount from your previous IRA is deposited into your new IRA within 60 days.

Can I Personally Possess My Gold?

Once you turn age 59 1/2, you can personally possess the gold in your IRA without penalties. However, if you take personal possession of your gold before age 59 1/2, you will be subject to tax and early withdrawal penalties.

Can I See My Gold?

Many depositories allow you to visit their facility to see your gold, provided you have an appointment, which your custodian will help you do. Some depositories also provide you with video footage of your gold being put into storage once it is packaged and sent to the facility.

Can I Store my Precious Metals at Home?

The IRS forbids you from storing the precious metals in your gold IRA at home. Instead, it must be stored in an IRS-approved, third-party storage facility, or you forfeit any IRA tax benefits.

However, many precious metals companies also offer non-IRA precious metals that can be transported and stored at your home for safekeeping.

How Do I Know My Gold is Safe in the Depository?

IRS-approved depositories are held to strict regulatory standards on both state and federal levels, which stipulate that they must store your gold in a secure vault, and in a secure location, with stringent security and management procedures to ensure it is kept safe.

These depositories also carry hefty insurance policies, some in the billions, to further protect your gold against theft, fire, and more.

What is a Self-Directed IRA?

A self-directed IRA allows you to control which assets are added to your retirement account, including alternative assets like gold.

How To Open a Self-Directed IRA?

First, find a reputable precious metals company and then open and fund your self-directed IRA. You will then be paired with a self-directed IRA custodian to help you manage your account.

What is a Self-Directed IRA Custodian?

A self-directed IRA custodian is required by the IRS to make your gold acquisition for your account on your behalf and handle any paperwork and reporting services necessary.

What are the Most Reliable Custodians?

Some of the most notable custodians in the industry include Equity Trust, STRATA Trust Company, The Entrust Group, IRA Financial, Alto IRA, and Rocket Dollar. However, you will still need to do your research on a custodian with the Better Business Bureau and more to find a reliable one for you.

What is the Difference Between a Custodian and a Precious Metals Dealer?

A precious metals company allows you to open a gold IRA to obtain their precious metals for your account, while a custodian acquire the gold on your behalf and oversees your account from there on out for IRS compliance.

What is the Difference Between a Gold IRA Company and a Precious Metals Dealer?

A gold IRA company and a precious metals dealer are basically the same in that they both sell gold and other precious metals that you can put in your IRA.

However, a gold IRA company may also acquire back your gold and other precious metals when you are ready to sell, provided you got the products from them. Some also promise to get them back at a premium value.

What Happens Once My Account has Been Funded?

Once your IRA account contains capitals, you can then explore the precious metals company's offerings to determine the gold you want to own.

Next, your custodian will make the acquisition for you and then have the gold shipped to the depository for safekeeping.

What Type of Gold Can I Get for My Gold IRA?

You can get gold coins, bullion, and bars for your gold IRA; however, it must meet the IRS's standard for fineness.

For gold, the minimum fineness is 99.5% or above. The gold must also be produced by a national mint or accredited manufacturer to be eligible.

Which Precious Metals can be included in my IRA?

As part of your gold IRA, you can also own silver, platinum, and palladium coins, bullion, and bars, provided they meet the IRS's requirements for purity.

For silver, the minimum purity standard is 99.9%. However, for platinum and palladium, the minimum purity standard is 99.95%. They must also be procured by an accredited manufacturer or a national mint to qualify.

How Long Does it Take to Rollover My IRA?

The entire process of rolling over your IRA can take anywhere from 7 to 60 days, depending on when your plan administrator responds to your request for a transfer.

Can I Have more than one Retirement Account?

Yes. You can invest in various retirement plans at one time. This includes 401k's, IRAs, Thrift Savings Plans, and more. However, your yearly distribution limit will not change.

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