Investing in the stock market, real estate, or even crypto can be a wise idea. However, historically there are few asset classes to invest in that are safer than precious metals. For this reason, many people invest in precious metals using a gold IRA.
A precious metals IRA, such as those offered by Patriot Gold Group, can help diversify your portfolio, reduce risk, and save you a ton in taxes.
Overview – Precious Metals Spot Market
If you are looking to buy precious metals on the spot market, Patriot Gold Group offers silver, gold, platinum bars, coins, and precious metal that you may purchase and have delivered to your home. The company’s website mentions palladium and platinum, but as of publication, it doesn’t appear to offer any products made of these metals.
With a concentration on gold and silver, the organization assists its clients in making precious metal investments.
Overview – Precious Metal IRAs
Patriot Gold Group clients have access to tax-advantageous individual retirement accounts (IRAs) where they can invest in gold, silver, and other precious metals. Those who use IRAs to invest for retirement receive tax advantages.
Gold IRAs – Roth IRA vs Traditional IRA
There are two types of gold IRAs, Roth IRAs and Traditional IRAs. Both forms of IRAs offer penalty-free withdraws after 59.5 years old and both have tax advantages. The tax advantages of a Roth ira vs a Traditional ira differ.
A precious metals Roth IRA is funded with post-tax money. This means you have already paid taxes on that money and therefore pay no capital gains tax on your withdraws.
A traditional IRA you can contribute a certain amount each year and write that year’s contribution off for that year’s taxes.
We’ve Reviewed A LOT of Gold IRA’s
We’ve reviewed a lot of Gold IRA’s. Like this Patriot God Group Review, Oxford Gold Group, Noble Gold Group & More.
Through our research about fees, legitimacy and customer support, Augusta Precious Metals is our top Gold IRA pick.
What types of precious metals can be held in an IRA?
Patriot Gold Group offers over 25 alternatives for gold and silver coins, including proof, private, bullion, and IRA-eligible coins.
Only approved goods can be utilized to benefit from an IRA’s tax benefits because the IRS has purity criteria for any precious metals stored in an IRA.
What is the Patriot Gold Group?
Patriot Gold Group is a well-known provider of precious metals IRAs located in Seal Beach, California. IRA investments in gold and silver protect against stock market turbulence, and perhaps even U.S. dollar inflation. These may be crucial factors to consider when making plans for your future.
You can transfer your current retirement funds, including 401(k)s and Roth IRAs, to Patriot Gold Group. Additionally, they immediately have gold and silver available for purchase, making it simple to fund your retirement account. Customers of the Patriot Gold Group can store their gold and silver in various IRA-compliant depositories with security.
Patriot Gold Group offers a range of instructional resources for anyone who wants to learn more about investing in gold and silver and precious metals IRAs. Finally, they are famous for providing excellent customer service, which can be very appealing given that this relationship may last for decades.
Further Reading: Gold IRA Scams – Know Before You Buy
Who owns Patriot Gold Group?
Jack Hanney serves as the Patriot Gold Group’s CEO. He has over 20 years of experience in finance and more than a decade in the tech industry. He has a degree from the University of Vermont.
How long has Patriot Gold Group been in business?
The company has been operating continuously since 1986. It has evolved over time and now runs electronically.
Patriot Gold Group Products
Although Patriot Gold Group sales representatives sell a wide range of precious metals, not all of them are suitable for IRAs. According to the Taxpayer Relief Act of 1997, only certain metals, such as those listed below—silver, gold, palladium, and platinum —are permitted for self-directed or alternative-asset IRAs.
Precious metals IRA
Saving money for retirement is a common goal for those who want to have access to an emergency fund when they stop working.
With the assistance of company specialists, investors can form a gold IRA and invest in precious metals while benefiting from the tax advantages of an IRA. Patriot Gold Group can help you add money to your account and purchase metals. Patriot Gold Group can also help you with storage and shipment.
The company offers consumers the option of purchasing precious metals in the form of bullion coins, bullion bars, and coins for IRAs.
Silver and gold products
Even if you don’t plan to set up a gold IRA, you can still purchase and exchange precious metals with Patriot Gold Group. The firm specializes in coins made of silver and gold. Palladium and platinum are two precious metals that are not for sale. The coins for sale come from the following countries:
- United States
- South Africa
One disadvantage of Patriot Gold Group is that its website does not provide actual coin prices. You first must choose the amount you wish to invest in each coin type to obtain a quote. However, to get the pricing you’ll need to chat with a person to determine how much each coin will cost.
Where does the company store precious metals?
Secure storage of your precious metal investments is crucial when creating a gold and silver IRA. You cannot keep precious metals for IRAs at home or in a personal safe deposit box because of federal IRA withdrawal regulations.
Brinks Global Service USA, Delaware Depository, and Texas Depository are a few of Patriot Gold Group’s depositories. Customers and Patriot Gold will coordinate to set up storage at these places.
Why Choose Patriot Gold Group?
It is crucial to consider both the positive and negative aspects of Patriot Gold Group’s business operations to determine whether or not they are a reliable dealer.
What makes this gold IRA company superior to others that are out there? There are a few Patriot Gold features that we truly appreciate, and they are as follows:
Patriot Gold Group has worked hard to improve its customer service as a premier business. At every level of the process, their employees are very good at answering questions. Additionally, they have a whole department dedicated to handling IRA-related issues. It enables them to make it simple for anyone wishing to roll over or transfer cash without difficulty.
Fully Insured Precious Metals
It’s imperative to have fully insured precious metals insurance, especially when priceless items are at stake. Unfortunately, you must get an insurance policy separately from most precious metal storage providers. Patriot Gold Group overcomes that problem by offering protection as part of their storage agreement. You won’t have to deal with the inconvenience of looking for third-party insurers and paying premiums, which is the main advantage.
No Fee Policy
The company prefers large-account investors over small-account investors. For example, if you open a $30,000 account, they will waive your initial set-up fee.
Additionally, the business will pay your vault fees if you open a bigger account with more than $100,000.
However, it is always vital to examine the fine print. The company does not offer its services for free as part of the No-Fee strategy.
They will charge buy/sell charges and spreads whenever you transact, which are a portion of their mainly hidden expenses.
In addition to the many benefits of working with this company, there are also some disadvantages.
Lack of Pricing Transparency
People had to search through dozens of items on their website to find a list of the Patriot Gold Group’s costs. However, specific questions remained unexplained regarding the fees charged when purchasing or selling precious metals. Transparency is not one of the areas in which this organization excels.
Patriot Gold Group Fees and Pricing
The website doesn’t list the company’s fees. But to learn more, we have specific information. Here’s what to anticipate:
- Annual expenses of $60 for IRA custodian administration and $140 for storage and insurance
- Depending on the size of your original investment, the first 1-3 years of storage expenses may be free.
- Want to cut down all costs? When an account has a balance of over $100,000, Patriot Gold Group provides a No Fee for Life IRA.
- Patriot Gold Group offers better deals if you have enough to invest.
Is Patriot Gold Group a Scam?
The company is legitimate, has actual owners, and has a real physical address. Thus, from what we can tell, it is not a scam. The company wouldn’t have lasted this long if they weren’t doing legit business, right?
Patriot Gold Group BBB Complaints
Halt Gold Group, Patriot Gold Group’s parent company, has an A+ rating with the BBB (BBB). Patriot Gold does not have its own BBB listing. With only a few complaints out of 128 reviews, the reviews on ConsumerAffairs have a five-star rating. These criticisms mainly center on coin value disputes and trading fee charges.
The average rating on Facebook is 4.4 out of 5 stars, and many clients have commented in Google reviews about how patient the staff were in explaining Precious Metals IRAs.
The Bottom Line
Patriot Gold Group can assist you with your gold and silver investments. Although it doesn’t provide platinum or palladium, which limits its product possibilities. Patriot Gold Group is a great alternative for anyone wishing to invest in gold and silver, especially if you expect to retire soon.
You can Patriot to set up a self-directed IRA, buy gold and silver coins and bars, and learn more about precious metal investing.