Ever since the Financial Crisis of 2008, gold has become an increasingly popular investment choice. Many people see gold as safer than investing in the stock market, and it can be a good way to protect themselves against inflation.

gold bars

A gold IRA is a self-directed individual retirement account (IRA), but instead of holding stocks or mutual funds, you invest in gold and other precious metals. Setting up a gold IRA can be confusing, and there are several steps you need to take.

One of the reasons for this is that you need to find a trustworthy company to handle your investment. Choosing the right company is a crucial first step because picking the wrong gold IRA company can cost you time and money.

Top 7 Gold IRA Companies

If you’ve never bought gold before then you may be a little unsure of where to start. Listed below are seven trustworthy gold IRA companies you can consider.

1. Goldco.com

Goldco is a leading provider for precious metals IRAs and is known for providing excellent customer service. The company got its start in 2006, and since then, it has helped thousands of customers invest in precious metals like gold, silver, platinum, and palladium.

The company offers gold and silver IRAs, and stores these precious metals in a third-party vault. You also have the option to buy precious metals from the company outright, and Goldco will either store them for you or deliver them to your home.

2. Patriot Gold Group

Patriot Gold Group is a precious metals dealer, and it facilitates transactions involving precious metals like gold and silver. The company has been in business since 1990 and is a certified Professional Coin Grading Service (PCGS) company.

When you set up a gold IRA, Patriot Gold Group will work with your custodian and storage facility to facilitate the process of buying precious metals. This setup process is fast and easy, and the company is known for its quick one-day turnaround.

3. Gold Alliance Capital

Gold Alliance Capital specializes in gold and other precious metals. The company can either help you set up a gold IRA, or you can buy precious metals from the company outside of an IRA.

The company was founded in 2017, so it doesn’t have the same level of experience as some of the other companies on this list. Gold Alliance Capital also doesn’t have as many customer reviews. But the company has built a solid reputation as a precious metals dealer, and it provides free precious metals storage to all its customers.

4. APMEX

APMEX is the largest online precious metals dealer and offers more than 10,000 items. The company has been in business since 1999, and it helps customers set up gold IRAs and purchase precious metals for their own personal collection.

If you’re looking to set up a gold IRA, APMEX is a good option. The company has a huge variety of precious metals to choose from, and they will walk you through the process of funding your IRA. You can view the company’s IRS-approved precious metals directly on their website.

5. Lear Capital

Leap Capital has been a leader in the precious metals industry for over 20 years now, and the company has finalized over $3 billion in transactions. The company offers a number of benefits to its customers, including a no-fee buy-back program.

If you choose Lear Capital, the company will work hard to educate you on how to set up your gold IRA. The company provides tons of free information on its website, and all of its employees are knowledgeable about how the process works.

6. Birch Gold Group

Birch Gold Group has been serving customers since 2003, and it helps individuals buy precious metals and set up gold IRAs. The company sells gold, silver, platinum, and palladium either for personal storage or for precious metals IRAs.

Birch Gold Group works hard to educate its customers on the benefits of investing in gold and other precious metals. And the company will ensure that your purchase meets the IRS’s guidelines for placement in a gold IRA.

7. Noble Gold Investments

Noble Gold Investments is a gold IRA company that is committed to customer education and transparency. You can buy gold or silver outright or purchase precious metals with the intent of opening a gold IRA.

One of the advantages of opening a gold IRA with Noble Gold Investments is the low minimum investment amount. The company requires a minimum $2,000 investment, while other precious metals companies require minimum investments from $5,000 to $25,000.

Things to Look for in a Gold IRA Company

Choosing the right gold IRA company is crucial for protecting your investment and making the most of your time and money. But it’s hard to know what you should be looking for if you’ve never bought gold before.

At the end of the day, you’re going to have to listen to your gut and choose the company you believe will be the best fit for your goals. But here are a few things to look for in a gold IRA company:

  • Company license: Anyone can set up a website and call themselves a legitimate business, so you’ll need to do a little extra digging. Check to ensure that the company is licensed before doing business with them.
  • Length in business: Just because a company is new doesn’t necessarily mean you should exclude them as a possibility. But more time in business does mean that the company has helped more customers, so it’s worth considering.
  • Customer reviews: It’s always helpful to see how other customers rate their experience with a particular company. Check the Better Business Bureau to see what kind of rating the company has and if there are any complaints lodged against it. A Better Business Bureau rating that’s lower than a B is generally cause for concern.
  • Reputation: And finally, what is that company’s reputation in the precious metals industry? Are they known for customer education and transparency? If not, then you may want to stay away.

FAQs About Gold IRAs

What is a gold IRA?

A gold IRA is an Individual Retirement Account that holds precious metal coins, bars, and bullion. In many ways, a gold IRA is similar to a Roth IRA, only it is self-directed, and you will own the physical assets held in your account.

Are gold IRAs a good idea?

There are conflicting opinions on this topic, but gold is generally considered to be a solid investment since it tends to move in the opposite direction of the stock market. That means that if the market is dropping, your precious metals investment will still be doing well. A gold IRA can help you diversify your portfolio.

Can I store my gold at home?

No, the IRS actually has strict guidelines about where your gold and other precious metals can be stored. They must be stored in an approved, third-party facility.

Can a gold IRA hold precious metals?

Yes, a gold IRA can also hold silver, platinum, and palladium. According to IRS guidelines, the precious metals must meet a certain purity standard in order to be held in an IRA. Here are the purity standards for each precious metal:

  • Gold: At least 99.5% pure or higher
  • Silver: At least 99.9% pure or higher
  • Platinum: At least 99.95% pure or higher
  • Palladium: At least 99.95% pure or higher

How much does it cost to get started?

The upfront cost will depend on the gold IRA company you end up choosing. Most companies will have a minimum required investment, and some investments can be quite high.

You’ll also need to consider storage fees and custodian fees. Make sure you ask a lot of questions when you’re evaluating different companies and keep an eye out for any hidden fees.

Can I choose a gold rollover IRA?

Yes, a gold rollover IRA is how many new investors get started. You can use the funds in your traditional IRA or 401(k) and use the funds to invest in a gold IRA.

Final Thoughts

Opening a gold IRA can be a good way to diversify your portfolio outside of the stock market and protect yourself from inflation. However, the process of opening a gold IRA can be tricky, so you want to choose the right company to assist you during this process.

The seven companies outlined in this article could all be good options as you’re getting started. Making sure you consider all your options, ask lots of questions, and choose the gold IRA company you believe will be the best fit for your investment goals.