With the US economy headed towards recession and stock markets due for a major crash, many investors are understandably leery of keeping their money invested in stocks. They’re looking for a way to keep their wealth secure and hedge their risks against the possibility of a major market correction. And that’s why many investors are choosing to invest in gold.
Trillions of dollars of investor capital are tied up in tax-advantaged retirement accounts, and investors don’t want to take a tax hit and face potential penalties by taking distributions from their retirement accounts. But how can they invest in gold if their retirement plan doesn’t offer gold as an investment option? Thankfully there’s an easy and popular way to invest existing retirement assets in gold: a gold IRA.
Through a gold IRA, investors can roll over existing tax-advantaged assets from their current retirement accounts into a gold IRA investment. Whether your assets are in a 401(k), 403(b), TSP, IRA, or other retirement account, a rollover into a gold IRA can help you keep your existing assets safe and secure. A gold IRA offers all the same tax advantages as a conventional IRA and follows all the same rules, allowing you to benefit from a tax-advantaged retirement account that can invest in physical gold coins or bars.
There are numerous companies out there that offer a gold IRA as an investment option, and it can be hard to tell which company to choose. With thousands of your precious retirement dollars on the line, however, the decision you make could be vitally important to the future of your retirement.
When it comes to choosing a gold IRA company, there are three main things you need to look out for, customer satisfaction, track record, and price.
Customer Satisfaction
Reading reviews from other customers who have been in the same place as you can make a huge difference. The higher rated a company is by its customers, the more likely you are to have a satisfactory experience.
Track Record
How long has the company been in business? Businesses with a longer history are likely those whose customers have been most satisfied. They’re more likely to treat their customers well, show concern for their customers’ long-term satisfaction, and be around if you need them in the future.
Price
While you want to get the most bang for your buck, price isn’t the most important thing. For one thing, you’re investing in an asset that will appreciate in value. Spending a little more up front for better service and support may end up being the better move. Unless there’s a huge disparity in price, trying to be penny wise could be pound foolish.
At the end of the day, though, even after controlling for these other factors, you may just want to go with your gut. If one company gives you a really good feel and another one gives you the creeps, go with the one that you trust. It’s your money and your future on the line, so don’t let anyone pressure you into doing anything you don’t want to do.
With all of that said, let’s look at a few of the biggest gold IRA companies out there, compare them by these three metrics, and see which one might be the best one for you.
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 reviews; 1 review
- Consumer Affairs – 4.9 rating; 107 reviews
- Trustpilot – 4.8 rating; 61 reviews
- TrustLink – 5 star rating; 125 reviews
These are solid ratings, although significantly fewer than some other competitors.
Track Record
The company was founded in 2003 and has operated since that time as a precious metals dealer. The website is informative and provides a good amount of information about gold IRAs and their benefits.
Price
We all know that setting up an IRA isn’t free. But there’s no place on the Birch Gold website that lists how much it costs to set up an IRA, how much account maintenance fees are, and how much custodians will charge. Nor does the site tell you how much it charges for the gold and silver coins and bars it sells.
2. Lear Capital
Customer Satisfaction
- Better Business Bureau – A+ rating; 4-star consumer reviews; 8 reviews, 0 complaints
- Business-Consumer Alliance – AAA rating; 5-star consumer reviews; 1 review
- Consumer Affairs – 4.6 rating; 1,049 reviews
- Trustpilot – 4.3 rating; 364 reviews
- TrustLink – 4.5 star rating; 324 reviews
Lear Capital seems to have the most ratings of any of the companies we reviewed here, although its overall rating is lower than some of its competitors.
Track Record
The company was founded in 1997 and claims to be “America’s Precious Metals leader.” The website is one of the most informative about gold IRAs, with substantial amounts of information about the benefits of investing in gold.
Price
Lear Capital also doesn’t publicize information about account setup and maintenance fees and custodial fees. It does, however, have a fairly extensive list of coins available for purchase, although not all are eligible for investment through a gold IRA. The site also warns that metal prices are changing rapidly and that prices listed on the site may not be accurate.
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 reviews; 1 review
- Consumer Affairs – 4.9 star rating; 247 reviews
- Trustpilot – 4.7 rating; 508 reviews
- TrustLink – 5 star rating; 248 reviews
Track Record
Goldco’s site is sparse on details about the company, but copyright information goes back to 2006, which is when the company was apparently founded. The site offers comprehensive information about gold and silver IRAs, a very extensive and active blog, and significant amounts of other content such as ebooks and videos.
Price
Like many other companies in this arena, Goldco’s site doesn’t offer information about prices for IRA services or for coins. The company does have good selection of coins, however, including many that don’t appear to be available from any other dealers.
4. Money Metals Exchange
Customer Satisfaction
- Better Business Bureau – A+ rating; 5-star consumer reviews; 67 reviews, 8 complaints
- Business-Consumer Alliance – not listed
- Consumer Affairs – not listed
- Trustpilot – no reviews
- TrustLink – no reviews
The lack of reviews is a little concerning. With so much money on the line, many customers are going to want to read reviews before they spend, and it’s hard to do that if some of the biggest review sites don’t have any information about the company.
Track Record
Money Metals Exchange was founded in 2010 and appears to have two brothers among the top management. Given how young the company and its leadership appear to be, it’s a little perplexing that there isn’t more information about it out there.
Price
Again, Money Metals Exchange doesn’t provide information on pricing for IRA products and services. It does have an extensive list of coins available for purchase, however, although these would be for physical delivery and not for an IRA. Pricing for these coins is online and is updated every minute to reflect movements in gold markets.
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 reviews; 8 reviews
- Consumer Affairs – not listed
- Trustpilot – no reviews
- TrustLink – 4 star rating; 67 reviews
Looking at the consumer reviews from BBB, all you can say is yikes. Everything is universally negative across the board, which is very much at odds with reviews on other sites.
Track Record
The company was founded in 2008, around the time as some of its competitors. The website is about as informative as most of its competitors and does a fair amount of self-promotion. The numerous partnerships the company has certainly make it appear to be influential.
Price
Like most competitors in this sphere, neither pricing for IRA products nor pricing for coins for physical delivery are available online. The company does have some interesting, and presumably expensive, coin options for those looking for unique coins in which to invest.
6. USA Gold
Customer Satisfaction
- Better Business Bureau – A+ rating; 5-star consumer reviews; 31 reviews, 0 complaints
- Business-Consumer Alliance – not listed
- Consumer Affairs – not listed
- Trustpilot – not listed
- TrustLink – not listed
Customer reviews are quite thin, which is surprising for a company that has been in business for nearly 50 years.
Track Record
The company claims to have been in business since 1973. At that time, of course, it was still illegal to own gold coins in the US. The company is family-owned, which might explain why it isn’t featured on many review sites. If the family’s head is older and less tech-savvy, this might explain the relative simplicity of the site’s design and lack of attention to the multitude of consumer review sites around today.
Price
USA Gold does feature estimates on how much annual IRA fees cost, although you have to dig a bit to find that. And it does feature prices on the various coins it sells, along with the ability to shop online. Overall, one gets the sense that the company focuses on direct to consumer sales of precious metals coins rather than IRA services.
And the Winner Is…Goldco
Most of these companies offer the same products and services. There isn’t much to differentiate their products, so it really all comes down to customer satisfaction. That means the support you get while you’re setting up your gold IRA and buying your coins, and the support you get after the fact.
When it comes to customer satisfaction, Birch Gold, Lear Capital, and Goldco really set themselves apart from the competition. While Lear Capital seems to have the most reviews, its ratings aren’t quite as high as Goldco and Birch Gold. And while Goldco and Birch Gold are about neck and neck in ratings, we give the edge to Goldco due to having nearly triple the number of total reviews as Birch Gold.
But remember, do your due diligence, shop around, and work with whichever company you feel most comfortable with. While we think you’ll likely be happy with Goldco due to its numerous satisfied customers, make sure to pick the gold IRA company that is right for you.
