Individual retirement account: IRA is one of the most popular ways to save for retirement. It’s the go-to option for people who cannot access a 401k or want to add extra savings for their senior days.
IRAs are fairly popular because, on top of saving up, they offer tax benefits and early withdrawal fees, which highly encourage IRA holders to leave the funds untouched until they are 59 and six months old.
IRA accounts aren’t strictly tied to stocks and bonds, and gold IRA accounts have become a fair choice for many people. A gold IRA might be the perfect way to go if you want to diversify your retirement account and protect your savings from inflation.
Gold IRAs investing originally consisted of buying gold bullion coins and bars. Still, you can invest in other precious metals like silver, platinum, and palladium.
Below, you can find a selection of top gold IRA companies with decent purchase requirements, useful features, helpful tips, and transparent pricing to find the best account to perform your gold IRA rollover.
Top Gold IRA Companies for 2024
Once you start working, it’s already time to consider your retirement funds. In our opinion, it’s never too early to consider what your options are and what is best suited to your needs.
Many people want to pick something that will protect their assets from inflation and the economic uncertainty associated with the stock market. That is why many investors decide to invest a good portion of their savings into a gold IRA.
So, if you are one of those investors, we present to you the best companies to invest in a gold IRA in 2024 – find them below!
Who Is the Ideal Investor for GoldCo?
GoldCo is a fantastic gold IRA solution for everyone – more or less. GoldCo comes with the highest ratings on the Better Business Bureau – BBB, and Business Consumer Alliance – BCA, out of all the companies reviewed in this article.
GoldCo performs rollovers from several account types – 401, 403b, TSP, personal savings, and other IRA accounts. However, the initial purchase is $25,000, which is fairly high.
What Are the Benefits?
The main benefit of going with GoldCo rather than any other company is the Highest BuyBack Guarantee, meaning GoldCo promises to buy back all your precious metals at the highest price.
Customer support is available over the phone, along with a live chat option to offer help with any questions you may have regarding your gold IRA questions. New customers can get up to 10% in free silver if they meet the purchase minimums!
For more information about the fees for gold IRA accounts, you can call a company representative or live chat on the website. However, the company doesn’t have a mobile app at this moment.
What we liked about GoldCo is that you can request to have your gold directly delivered to a desired location. Moreover, you can receive distributions in physical precious metals or have the company convert them into cash for you.
- Offers rollovers from many account types
- Buyback guarantee
- Live chat with a representative
- 10% free silver if the customer meets the minimum purchase criteria
- Direct delivery to a chosen depository
- No mobile app
- $25,000 initial purchase requirement
Read more: Who is the Owner and CEO of GoldCo?
American Hartford Gold
Who Is the Ideal Investor for American Hartford Gold?
American Hartford Gold is a reputable gold IRA company – one of the best in the US. This is leaning toward investors with lots of experience under their belt who want to invest in precious metals IRAs.
Because the company is interested in getting experienced investors, fees can be waived for large opening deposits, but talk to a company representative about it.
What Are the Benefits?
With an A+ grade from the Better Business Bureau and an AA rating from the Business Consumer Alliance, American Hartford Gold is the perfect company to work with for a gold IRA rollover. You can easily rollover an existing IRA without making an additional deposit, making the entire process quick and stress-free.
The company also supports rollover from traditional IRAs, Roth IRA accounts, saving plans, 401k, 403b, and 457 plans. The $10,000 minimum investment is significantly lower than GoldCo’s, and it comes with a buyback commitment with waived liquidation fees!
The consultations with representatives are free, allowing you to get all the information on fees, as they are not easy to find on the website.
- Supports rollovers from many types of accounts
- Buyback commitment with zero liquidation fees
- Free consultations
- Waived fees for large initial deposits
- Fees are not transparent on the website.
Augusta Precious Metals
Who Is the Ideal Investor for Augusta Precious Metals?
If you are a first-time investor with little experience but want to ensure you have a rainy day fund for your retirement, you should strongly consider Augusta Precious Metals. For newcomers with a large sum to invest, Augusta is the best gold IRA company.
What Are the Benefits?
What truly makes Augusta Precious Metals stand out is its zero management fees. You won’t pay for maintenance fees for the first ten years. However, the gold IRA account comes with set-up and depository storage fees.
The minimum investment is steep at $50,000, but the lower costs will make it worthwhile if you want to invest a lot in your IRA. To find out more about the storage fees, contact a company representative – the reps are Harvard-trained, meaning they will be able to answer all of your questions.
Augusta Precious Metals specializes in precious metals IRAs, unlike other companies that offer other types of IRAs and savings accounts. The entire process is straightforward, making it a breeze to roll over your assets into this gold IRA company.
All the gold available for investment portfolios is 99.5% pure, and the investors can buy gold bullion and premium gold. The only downside is that the gold individual retirement accounts at Augusta Precious Metals come without a mobile app.
- No management fees
- Offers pure gold exclusively
- Easy rollover process
- Perfect for large deposits
- No mobile app
- $50,000 minimum investment
Noble Gold Investments
Who Is the Ideal Investor for Noble Gold Investments?
Noble Gold Investments is one of the reputable gold IRA companies perfect for experienced investors looking for a self-directed IRA or a way to secure their financial future. It offers investments in physical precious metals, gold bullion, and options for rollovers of existing retirement accounts.
What Are the Benefits?
What we liked about Noble Gold is the selection of precious metals with competitive gold prices. If you want to make some gold and silver investments, Noble Gold is a fine option as it offers very low annual fees.
On the other hand, the pricing isn’t clearly stated on the website, and you will have to contact the company’s financial advisor for more information. Storage facilities are fairly limited, as they are only available in Texas.
However, what truly makes Noble Gold Investments stand out is not the stellar grade from Better Business Bureau; it’s the Royal Surviving Pack. Royal Surviving Packs are a precious metals combo you can use as currency.
Royal Surviving Packs come in various options for different investment levels, allowing you to diversify your portfolio and hedge against inflation easily. Six investment levels are available to help you pick the level that suits your investment needs.
- Royal Surviving Pack for emergencies
- Competitive prices
- Low annual fees
- Various account types are available
- Scarce custodian options
Birch Gold Group
Who Is the Ideal Investor for BGG?
Birch Gold Group is one of the most famous precious metals IRA companies. Endorsed by many celebrities, this is a go-to company for many gold IRA investors. The service is top-tier, and the customer service representatives will go the extra mile to assist you in making the right choice – which is especially important for new investors.
What Are the Benefits?
Having been in the business for over 20 years, Birch Gold Group built its reputation on vast experience in gold IRA investments and taking its service to another level regarding the retirement portfolio.
Birch Gold Group offers many services besides gold purchases, such as investing precious metals – from gold, silver, and platinum to palladium and gold IRA rollovers. Professional service representatives will be able to answer your questions regarding precious metals investments.
The website also provides a large library on gold IRA and traditional IRA investments. The minimum investment is decent – $10,000, but the fees are high.
However, the custodian fees are waived for one full year for investors willing to put down a minimum investment of $50,000!
- Amazing customer service
- Large online library for investors
- Low minimum deposit
- Free one-year storage for large deposits
- Annual fees are a bit steep.
Other Gold IRA Company Alternatives to Consider
While we have picked out the best of the best gold IRA companies, we understand they might not work for you. That is why we selected a handful of alternative gold IRA providers for you to roll over your savings into a precious metals IRA!
Rosland Capital – Maximum Flexibility
If you want to create a portfolio on the precious metals market that is just right for you – consider Rosland Capital. Along with a very flexible portfolio, this gold IRA company offers transparent pricing and relatively low fees – at a flat rate.
What’s more, if you decide to deposit $20,000 or more, you get $1,000 in free gold and a free year of storage for a gold IRA. The minimum deposit is $2,000, a great way to enter the world of precious metal IRAs.
So, if you are new to the world of precious metal assets, we urge you to consider Rosland Capital, as you receive a free information gold kit when signing up!
Silver Gold Bull – Top Selection of Assets
Silver Gold Bull is the ideal company for gold IRA investing if you want a wide selection of precious metal products readily available for purchase. Moreover, Silver Gold Bull doesn’t sell gold bullion exclusively – the company offers silver, platinum, palladium, collectible coins, jewelry, copper coins, and a large offer of gifts.
Along with plenty of assets, the platform allows you to have multiple accounts, allowing customers to set up an employer-sponsored plan and a self-directed IRA or a 401k. However, you must contact the service representatives to learn more about the annual fees.
You can use the Silver Gold Bull platform to buy and sell assets from your self-directed IRA; even better, you can use cryptocurrency!
iTrust Capital – Best for Gold and Crypto
iTrustCapital is an investment company specializing in gold and silver and several cryptocurrencies. This is the go-to company for all investors who want to diversify their precious metal retirement portfolio with crypto.
You can rollover assets from a 401k, saving plans, 401b, 457, and many more, and you can even fund assets with an existing IRA account. The premiums for precious metals are very low, and there is no monthly account fee, making this a very reasonable choice for an IRA, especially with the $1,000 minimum deposit.
As the precious metals are stored at the Royal Bank of Canada, iTrustCapital does not charge storage fees. The downside is – the company does not offer financial advice, but considering how much you can save on fees, it’s still one of the best!
Oxford Gold Group –Beginner-Friendly
Oxford Gold Group is among the best gold IRA companies for beginner investors trying to enter the gold market. Oxford Gold Group sells a wide selection of precious metal assets to fund a traditional IRA, Roth IRA, or SEP IRA.
New investors on the platform get a free guide and access to real-time prices of gold, performance charts, spot prices, and historical data on gold and other precious metals. On the platform, you can also enter a repurchase program and rest assured that your monetary gold is safe in a secure climate depository.
However, be wary of the annual fees, as they can be high. On top of that, the gold goods cannot be shipped to your home if you are looking for a gold IRA – they must be stored with a custodian.
Lear Capital – Best for Retirement Accounts
If you are looking for a retirement account and nothing else, Lear Capital is the gold IRA company partner you have been looking for! With a $5,000 minimum initial deposit, it certainly isn’t low, but compared to other gold IRA companies, it isn’t very high.
Lear Capital offers an extensive list of investment guides to ensure you make the right decision for your IRA account. The platform offers an amazing set of gold tools, analyzers, and free evaluations, along with a price match guarantee to save you some precious bucks for your fund!
The account fees are a bit steep, but with free buybacks and 24-hour risk-free guarantees on all purchases, it’s worth it.
With an app available for iOS and Android phones, it’s easy to keep track of all purchases and current prices!
How to Pick a Gold IRA?
Before making big gold investments, you should ensure that the company you want to buy gold from is IRA-approved. Gold coins and gold bars are a go-to choice for many people, but remember that they are associated with high storage fees – all physical precious metals come with storage fees.
Another point to consider is what goals you are trying to reach with this investment. Do you want long-term protection from inflation or short-term stability in the market?
When you have the answer, it will make it easier to decide how much of your money you will invest in gold and where you will invest it.
Gold IRA vs. Traditional IRA
Investing in a gold IRA account can help you get settled for retirement while allowing you to purchase gold and other precious metals. A gold IRA company follows the same rules for contributions to the account.
Along with that, gold IRAs have so much more regulation about them, and among other things, they limit what type of gold can be used for the retirement account. One of the rules is that you must work with a storage custodian – an institution responsible for the assets.
On top of it all, the gold IRA physical precious metals must meet a certain standard of purity, be produced by a list of approved refineries, and be stored in original packaging.
Unlike traditional IRAs, Gold IRAs nowadays consist of physical gold and other precious metals. Even the best gold IRA investment companies offer different goods, and they all do not have the same selection, which is worth considering before settling on a specific gold IRA company.
Other IRA Alternatives to Consider
Several types of IRAs are popular among investors, with traditional IRAs and Roth IRAs being the most popular. These IRAs won’t allow you to invest in physical gold, but they could work for your needs.
A traditional IRA is a great choice as it lets you delay paying taxes on your IRA account contributions until it’s time to withdraw money. It’s effective, especially if you expect to be in a lower tax bracket during retirement, meaning you will pay less than you would be paying on taxes now.
The Roth IRA works very similarly, except that you pay taxes upfront rather than paying taxes upon withdrawal. Roth IRAs are a good choice for people early in their careers, as they are in a lower tax bracket now but will likely be in a higher tax bracket later on.
Roth and traditional IRAs enable you to invest in gold, silver, platinum, and palladium coins, not physical bullion. You can invest in mutual funds, gold stocks, or ETFs.
Also, the process is much easier than investing your retirement savings into physical gold. However, physical gold bullion does have intrinsic value and offers good protection against economic uncertainties.
Investing in a Gold IRA Account – Pros & Cons
Before purchasing gold from one of the best gold IRA companies, you should look at your finances and all the pros and cons. Having a gold IRA can be great, but it has several downsides, too – and you should make an informed decision.
Pros of Having a Gold IRA Account
Owning Physical Assets
Many investors will point out that the reason why they have precious metals IRAs is the fact that the assets are tangible and physical. Stocks and bonds are abstract compared to silver, platinum, and palladium coins. Many brokers who manage IRAs do not allow you to own physical gold.
All individual retirement accounts offer tax benefits, including a traditional IRA, and you owe no capital gains on any investments in precious metals you make. You can even sell gold and silver bullion for a profit without paying taxes if you keep the money in the account.
Gold IRAs can be traditional IRAs or Roth IRAs. The benefit of choosing a traditional IRA is that you can get a tax deduction for investing more money into the account. At the same time, Roth IRAs allow you to make tax-free withdrawals during retirement.
Insurance & Storage Fees Included
The best IRA companies offer a marketplace for purchasing and selling physical gold and other precious metals. Most have contracts and partnerships with IRA custodians who care for your physical investments.
The best part about going with the best gold IRA companies is that all fees are included – so you don’t have to pay extra for storage or insurance!
Cons of Having a Gold IRA Account
Holding a gold IRA is not affordable; even a gold IRA rollover can set you back a little. Holding a gold or precious metals IRA is associated with various fees, including application fees, annual account fees, transaction fees when buying and selling, wire fees, and insurance and storage fees.
Even just withdrawing money from your account will cost you a pretty penny. Every transaction will affect your return on investment, so you should be careful when you want to sell or purchase gold.
Various Hidden Fees
One of the most common ways gold IRA companies profit is by charging gold bars and coins over the spot price. It is one of the very well-hidden fees as most companies will not present the price fairly. Some companies charge $100 over the spot, while others charge far more – inform yourself about current spot prices before you agree to rollover your IRA.
Rules & Regulations
The rules and regulations regarding a gold or precious metal IRA are complicated, and you don’t want to see the IRS voiding the specialty account. Only specific gold coins and bars can be used in your gold IRA.
Another important rule is that the gold cannot be stored at home – one of the precious metals IRA rules states that bullion must be stored with a custodian. This comes as an extra fee, of course, and it means you cannot see your physical gold bullion investment whenever you want.
Gold IRA Custodians – Everything You Need to Know
Before we start, let’s understand what a gold IRA custodian is. Custodians are companies that physically hold and manage your gold IRA for you. Many custodians are in the country, but even some of the best gold IRA companies won’t let you pick out your own gold IRA custodian.
Also, even the gold IRA companies that offer multiple custodian options will encourage you to go with their favorite one. The investment companies charge low fees because they receive commissions from custodians they have contracts with.
The downside is that many gold IRA companies will pick out the custodians they receive the best commissions from rather than choosing custodians best suited for the investors.
We firmly believe you have the right to pick out your gold IRA custodian, so we advise you to work with companies with only one custodian option. However, remember that every custodian charges their own set of fees, and many of them are hidden, racking up plenty of costs annually.
To find out which company charges the lowest fees, we urge you to look at the charges per ounce rather than the rate tables. Of course, this takes more time than picking out the first custodian you come across, but when it comes to gold IRAs, the storage fees can eat away your profits – which is why you should be careful when looking for a custodian.
Alternative Options to Invest in Gold
If you are very pleased with your retirement account and wouldn’t change it for a gold IRA – but you’re still looking to invest in gold, there are several gold investment alternatives. Below, we picked out the affordable options you can use instead of an IRA to invest your funds in gold.
Gold Mutual Funds & ETFs
Many mutual funds and exchange-traded funds that make a profit by investing in gold. Some funds track the spot price and trade futures or options, while some invest in gold stocks.
If you want to add this to your portfolio, you can buy into these funds with your traditional IRA. It is a less expensive way to invest in gold, but you will not invest or own any physical precious metals.
Gold stock involves investing in gold mining, processing, or trading companies. The best part about gold stock is that when the price of gold goes up, the stock’s price rises even higher.
However, you must do thorough research before investing to ensure the company is doing truly well – as that also impacts the stock price. With carefully picked-out stock, you can earn more than you would with a gold IRA.
You can purchase gold stock with an IRA brokerage, saving on many fees.
Other Gold Investments
If you want to invest in physical gold rather than anything else, you can invest in it without an IRA. This way, you won’t have to pay attention to complicated IRS rules and regulations and won’t have to pay the high fees, leaving your IRA free for other investments.
Gold IRA or Physical Gold – What Is a Better Option?
If you want to own gold, there is no right answer to this question – it all comes down to your desires and goals.
On one hand, physical gold costs less and is associated with fewer buying, holding, and selling fees. You can store it in your home, but it does come with the risk of being stolen. That being said, a safety deposit box costs much less than gold IRA fees, and it would give you peace of mind regarding your investment.
On the other hand, having a gold IRA comes with tax benefits, while physical precious metals do not. You won’t pay any taxes when the value of gold rises, and you don’t have to keep an eye on it, as the IRA custodian will take care of it for you.
The tax benefits aren’t very relevant, though, as the gold IRA can have high fees, and you won’t feel the advantage on your taxes. Fees could eat the gains, so you should be careful.
Gold IRA – Frequently Asked Questions
What Is a Gold IRA?
IRA is, as we all know, an individual retirement account. Gold IRA is a special form of individual retirement account that enables investors to keep precious metals such as gold and palladium in an IRS-friendly retirement account.
Gold IRA must be kept separately from a traditional IRA, but most of the rules are the same, including the annual contribution limits.
Is All Gold Bullion IRA eligible?
Let me start by saying no, not all gold is eligible for your gold IRA investment. You must check whether that gold bar or coin is suitable for buying gold bullion for your retirement portfolio.
For an IRA, the gold bullion must meet specific standards that the IRS set for IRAs. This type of gold isn’t difficult to find; it must be a state/federally-issued coin or bullion that meets the standard requirements in the IRC Section 408.
Some gold coins and rounds approved by IRS are:
- American Gold Eagle – proof coins, gold rounds, and bullion
- Chinese Panda – gold rounds
- Canadian Maple Leaf – gold rounds
- Austrian Philharmonic – gold rounds
- Australian Kangaroo and Nugget gold rounds
- American Gold Buffalo – uncirculated coins
Also, IRA-approved gold must have a fineness of .995 or finer, or it won’t be eligible. Other precious metals also must meet a certain standard for purity.
On top of that, you must remember that gold for your IRA account cannot be kept in your home – you must find a custodian for your bullion.
How Much Does a Gold IRA Cost?
Gold and silver IRAs are very popular, but many investors aren’t sure of the fees they are paying. Many gold IRA companies have hidden fees or significant premiums on the spot price of precious metals.
Be careful about the entire cost – sometimes, even the custodian fees can eat away at your profits, which is why you should be careful about the company you go with.
Moreover, you will need to pay custodian fees for all of your purchased precious metals. Some custodians charge a flat rate, while some of them charge per ounce.
Some IRA companies charge a premium over the spot price for precious metals, and that can add up, too. Fees for gold IRAs are higher than fees for a traditional IRA or a 401k, but many investors will argue that they are worth it.
Some companies waive annual fees if you invest a significant amount, so ask the sales representative about that!
Is IRA Gold Tax-Free?
Gold IRA works the same as the traditional IRA, meaning that all contributions to your retirement account will not be taxed when purchasing gold. However, when making distributions, it will be taxed as usual.
Keep in mind that there is a 10% penalty for every distribution you make before reaching the age of 59 years and six months.
Now that we’ve gone through gold IRA reviews and plenty of helpful information on what kind of IRA to choose and why – it’s time to invest in some gold!
If you want to hedge against inflation and protect your assets from chipping away, having a self-directed gold IRA is certainly the way to go. With so many precious metal assets you can go with, such as gold, silver, platinum, and palladium – the best time to start is now!