Opening a gold IRA account is a great way to protect your retirement against inflation and to diversify your investments. Whether you’re looking to open up a brand new gold IRA account or rollover an existing 401k plan, it’s important that you only work with a trusted gold IRA company.
To help you decide, we’ve reviewed the best gold companies of 2022. Each gold investment company below was rated on a variety of factors including company reputation, selection of precious metals, fees, storage options, and more.
If you’re ready to diversify your investment portfolio into assets outside of stocks and bonds, here are the best gold IRA companies to consider:
The 5 Best Gold IRA Companies of 2022
- Goldco: Most trusted and reputable gold IRA company
- Augusta Precious Metals: Best reviews
- Birch Gold Group: Best variety of precious metal products
- American Hartford Gold: Best gold buy-back program
- Oxford Gold: Best customer service
#1. Goldco: Best Gold IRA Company Overall
Goldco is a reputable precious metals dealer offering products to enhance your retirement savings strategy. This company is the leader in the precious metals industry and has received numerous awards and recognitions.
Goldco has an A+ rating on the Better Business Bureau and an AAA rating from the Business Consumer Alliance.
Goldco can help you protect the assets in a range of retirement accounts by transferring them to a precious metals IRA. Whether you have an IRA, TSP, 401(k), or 403(b), one of the company’s Gold Specialists can walk you through the steps to transfer the funds in your account to a precious metals IRA account.
This company also offers direct gold and silver sales. You can purchase physical gold and silver to use toward your retirement investments or to invest money from other savings accounts.
If you’d like to open a precious metals IRA through Goldco, you’ll need to transfer or roll over your assets from your existing retirement account into your new IRA. Goldco makes this process easy and stress-free by walking customers through the following steps:
- Open your IRA: Sign an agreement to state that you understand Goldco’s terms
- Fund your Self-Directed IRA: Roll over assets from your existing 401(k), 403(b), TSP, or IRA by contacting the company that manages your account.
- Purchase your precious metals: Choose the precious metals you’d like to include in your investment
Goldco sells a wide range of gold and silver coins, such as:
- Silver American Eagle
- Gold American Eagle
- Silver Great Barrier Reef
- Gold Australian Striped Marlin
- Silver Military Guinea
- Gold Marlin
You can also purchase gold and silver bars in various sizes. These bars have a .9999 fineness.
Goldco also offers a buy-back program. If your circumstances ever change and you need to sell the precious metals in your account, Goldco will buy them at the highest buy-back price, guaranteed.
If you’re still considering whether to invest in a precious metals IRA, you can request a free kit from Goldco to learn more. This kit includes a printed, audio, and visual guide to precious metals investments.
Altogether, we recommend Goldco as one of the best gold IRA companies in the industry.
Click Here to Request A Free Gold IRA Kit From Goldco
#2. Augusta Precious Metals: Experts in Precious Metal Retirement Accounts
Augusta Precious Metals is a well-known precious metals provider offering gold and silver IRAs and cash purchases. This company also provides numerous free resources on its website to help you learn more about precious metals investing and opening a gold or silver IRA.
Augusta Precious Metals has an A+ rating from the Better Business Bureau and a 4.97 rating across customer reviews. The company has also received impressive ratings on several other platforms, such as TrustLink, Google My Business, Facebook, and the Business Consumer Alliance.
You can create a precious metals IRA through Augusta Precious Metals by following these steps:
- Create your new IRA through Augusta’s self-directed IRA custodian.
- Fund your account using money from your existing retirement account.
- Purchase gold or silver through Augusta’s order desk.
Augusta Precious Metals works with Equity Trust, a leading self-directed IRA provider, to help customers set up their precious metals IRAs. This IRA provider serves customers in all 50 U.S. states and has over 30 years of experience managing more than $25 billion.
Once you purchase the precious metals to include in your retirement account, Augusta Precious Metals will take care of storing the physical gold and silver for you. The company uses the Delaware Depository, a secured, private depository, to store all of its precious metals.
You can also purchase physical gold and silver through Augusta Precious Metals. You’ll just need to transfer cash to your Augusta account and select the gold and silver products you want to purchase. Augusta will deliver them to your door, and you’ll need to sign for the delivery.
Augusta Precious Metals sells gold and silver bullion and premium coins. The company’s bullion products include coins such as:
- Gold American Eagle
- Silver American Eagle
- Gold Canadian Maple Leaf
- America the Beautiful silver coin
You can also purchase gold bullion bars ranging from 1 to 10 oz, silver bullion bars ranging from 10 to 100 oz, and 90% silver bags.
The company’s premium gold and silver coins include products like:
- 2022 St. Helena Gold Sovereign
- 2021 Royal Canadian Mint Silver Soaring Eagle
You can also review a list of the company’s IRA-eligible coins if you’re looking for products to include in your retirement account.
Altogether, Augusta Precious Metals is one of the top gold IRA companies in the industry.
Click Here to Learn More About Augusta Precious Metals
#3. Birch Gold Group: Highly Rated Gold Company With Great Selection of Precious Metals
Birch Gold Group is a leading precious metals dealer offering physical purchasing and IRA investment accounts. This company has been in business since 2003 and has maintained a positive reputation amongst thousands of customers.
Birch Gold Group has an A+ Better Business Bureau rating, AAA Business Consumer Alliance rating, and 5-star ratings from numerous other websites. You can feel confident that you will have a safe, trustworthy experience investing in precious metals through this company.
Birch Gold Group offers a wide range of precious metals products, including gold, silver, platinum, and palladium. You can purchase these metals outright or use them to fund a precious metals IRA.
This company makes it easy to transfer your retirement assets to a precious metals IRA. You can follow these five steps with the help of a qualified Precious Metals Specialist:
- Create your account and choose your funding source: You can transfer an IRA or roll over a 401(k) to fund your new, self-directed IRA through Birch Gold Group.
- Choose the precious metals for your account: Your Precious Metals Specialist can help you determine which metals to invest in to maximize tax benefits.
- Purchase your precious metals: Your Specialist will review your order and provide confirmation once your purchase has gone through.
- Choose your storage option: Your Specialist will walk you through your storage options. Birch Gold Group works with several depositories, including Delaware Depository and Brink’s Global Service, to store its customers’ investments.
- Watch how your IRA performs: You can call your Specialist at any time to monitor your account’s performance or make any changes.
You can also purchase gold, silver, platinum, and palladium products directly through Birch Gold Group. The company sells an extensive range of IRS-approved coins, such as:
- American Gold Eagle
- American Silver Eagle
- Canadian Gold Maple Leaf
- Silver Rose Crown Guinea
You can also purchase gold and silver bars and rounds.
The company’s platinum products include:
- Bars and rounds
- American Platinum Eagle
- Australian Platinum Florin
Finally, the palladium products include:
- Bars and rounds
- Canadian Palladium Maple Leaf
Overall, Birch Gold Group is an excellent choice if you’re looking for a company to facilitate a versatile precious metal IRA.
Click Here to Learn More About Birch Gold Group
#4. American Hartford Gold: Best for Low Fees and Generous Gold Buy-Back Program
American Hartford Gold is a reliable gold IRA company offering silver and gold investments. The company is family-owned and operated and based out of Los Angeles, CA. It has received several recognitions, including the #1 Gold Company recognition on the 2021 Inc. 5000.
American Hartford Gold advertises gold IRAs, but you can add silver investments to your retirement account if desired. You can follow these steps to invest in a gold IRA through American Hartford Gold:
- Call American Hartford Gold to speak with a specialist and complete the necessary paperwork.
- Transfer an existing IRA to a new, self-directed gold IRA.
- Select the gold or silver products to add to your IRA.
- Purchase your IRA-eligible precious metals.
American Hartford Gold offers precious metals IRAs through Equity Trust, a reputable gold IRA custodian. Once you choose the precious metals to add to your account, you can store them with a secure storage company like Brinks, Delaware Depository, or International Depository Services Group.
This gold IRA company offers a versatile selection of silver and gold products for direct purchase as well. For example, a few of the company’s gold products include:
- Saint Helena Sovereign Gold coin
- Canadian Gyrfalcon Gold coin
- 1-ounce gold bar
- Valcambi Combibar
Meanwhile, its silver products include products such as:
- Australian Wildlife Silver coin
- South African Krugerrand
- 1-ounce rounds
- Pre-64 circulated coins
- 10 oz and 100 oz bars
- Valcambi Combibar
When you purchase precious metals through American Hartford Gold, you will have ongoing access to an account representative to stay informed about your investments. You can contact your representative at any time by calling the number on the company’s website.
If you want to learn more about investing in gold before taking the plunge, you can request the company’s free guide. This 25-page guide includes valuable information about taking control of your savings with precious metals IRAs.
You can also visit the News and Charts section of the American Hartford Gold website to learn about changes to the gold market. This section also includes helpful articles to shape your investment decisions.
Altogether, American Hartford Gold is a reputable gold IRA company offering top-tier gold IRA investment products.
Click Here to Learn More About Hartford Gold
#5. Oxford Gold: Best Customer Service
Oxford Gold Group is a gold IRA company offering gold, silver, platinum, and palladium for purchase. The company has an A+ Better Business Bureau rating and impressive ratings on websites like Trustpilot, Consumer Affairs, and Google My Business.
Oxford Gold offers silver and gold IRAs and provides plenty of resources to walk you through opening these accounts. On the Oxford Gold website, you can learn the steps you need to follow to transfer funds to a precious metal IRA, how these IRAs work, the different types available, and why they make wise investments.
You can purchase gold, silver, platinum, and palladium coins and bars directly through the Oxford Gold website. The company sells a wide range of popular silver and gold coins and other products, such as:
- Canadian Silver Maple Leaf coin
- Guinea “Rose Crown” coin
- America the Beautiful Silver coin
- Gold Canadian Polar Bear & Cub coin
- PAMP Suisse Silver Bar
- 1-oz and 10-oz gold bars
The company also has a small selection of platinum and palladium coins and bars.
Oxford Gold Group strives to go above and beyond other precious metals firms by staying attuned to its clients’ individual needs and providing the tools they need to make sound financial decisions. The company offers a comprehensive learning center on its website to assist your buying process.
This learning center includes a range of resources, such as:
- Precious metals investment guide
- News and articles about gold investing
- FAQs
- Glossary of terms
You’ll also benefit from dealing directly with one of the company’s Managing Partners throughout your time working with Oxford Gold Group. This person can answer any questions about your gold IRA investments or storage.
We appreciate that Oxford Gold takes an objective standpoint for acquiring precious metals, allowing customers to learn the pros and cons of these investments and make more informed decisions.
Altogether, Oxford Gold Group is one of the best gold IRA companies in the industry.
Click Here to Learn More About Oxford Gold
What is a Gold IRA?
A gold individual retirement account (IRA) is a self-directed individual retirement account that uses silver, gold, or other precious metals instead of typical investment products like stocks and bonds.
Having a diverse investment portfolio is essential to hedge against inflation and potential stock market crashes. As a result, many consumers have begun adding gold, silver, and other precious metals to their retirement accounts as a relatively stable, predictable investment.
The companies on our list facilitate gold IRAs by helping customers roll over or transfer existing retirement accounts into new, self-directed precious metals IRAs. Essentially, you need to move the funds in your current retirement investments into a new account rather than starting a gold IRA from scratch.
The Internal Revenue Service regulates which precious metals products are permitted in precious metals IRAs. The products need to meet certain “fineness” standards and be in the form of bullion or coins. Only IRS-approved coins, such as the Canadian Maple Leaf, are allowed in these accounts.
The best gold IRA companies make the process of funding and managing these gold individual retirement accounts easy and stress-free. Many companies match customers with account representatives who are available to walk them through the entire process.
However, an account representative is not the same as a financial advisor. If you’re considering diversifying your retirement portfolio with a gold IRA, we recommend consulting your financial advisor first to determine whether it’s the right move for your specific financial situation.
How We Ranked The Top Gold Investment Companies
Choosing the right gold IRA company is essential to having a positive experience with your precious metals IRA.
Your IRA company will be responsible for thousands of dollars of your retirement savings, and you need to trust that they will manage your precious metals products well. Additionally, some gold IRA companies make buying physical gold and investing in self-directed IRAs easier than others.
When we created our list of the top gold IRA companies, we reviewed several factors, including the following:
Reputation and Reviews
The best way to find reputable gold IRA companies is to read reviews from customers and reliable sources. For example, all of the companies on our list have A+ ratings on the Better Business Bureau, which is the best rating they can receive. This rating indicates that these companies have a positive customer reputation overall.
You can also read gold IRA reviews on websites like Google My Business and Trustpilot. Of course, every company has at least a few negative reviews. However, the best options have far more positive reviews than negative ones.
Ease of Setup
The idea of transferring assets from your retirement accounts to a gold IRA may feel overwhelming and time-consuming. However, the top gold IRA providers make this process as simple as possible.
Many of the companies on our list match customers with a Gold IRA Specialist who can walk them through the steps to create a self-directed gold IRA. These experts leave no room for confusion, ensuring an easy setup process.
Additionally, many gold IRA companies partner with storage facilities to simplify your process further. You can purchase your gold coins and precious metals through these companies; then, they will handle storing them for you.
Costs and Fees
Precious metals providers typically charge a few different fees to open and maintain your gold IRA. These can include:
- One-time account setup fee: Typically ranges between $50 and $150
- Annual administrative fee: Typically ranges between $50 and $100
- Storage fees: Range between $50 to $300 a year
Because of these fees, gold IRAs typically cost a little more than traditional IRAs. However, the best gold IRA providers keep their fees on the lower end of the spectrum and do not markup silver and gold prices.
Selection of Gold and Silver Products
When opening gold IRA accounts, choosing the precious metals to include is one of the most rewarding aspects. As a result, the best gold IRA company options have a wide selection of silver and gold products.
The companies on our list offer numerous gold coins, silver coins, gold bars, and silver bars. Additionally, several of these companies sell platinum and palladium products as well. You can include these precious metals to diversify your retirement portfolio further.
Buy-Backs?
If your plans change and you need to sell your gold products earlier than expected, selling them back to the company you purchased them from can save you time. These companies already have possession of the physical products in your IRA, and they can be responsible for re-acquiring them from your account.
Several gold IRA companies offer buy-back programs that make it simple to sell your products. For example, Goldco has a buy-back program with a guaranteed highest buy-back price. This program can help you feel confident that you are getting a good deal from your gold or silver sale.
However, you can’t always assume that other precious metals companies will give you a fair price for a gold or silver buy-back. As a result, just because a gold IRA company offers a buy-back program does not mean it is your best option.
What is a Gold IRA Rollover and How Does It Work?
When you open a precious metals IRA through one of the companies above, you cannot fund it through your personal savings account. Instead, you need to transfer funds from an existing traditional IRA, Roth IRA, 401(k), or another qualifying retirement account.
If you want to transfer funds from an IRA to a self-directed gold IRA, you can complete a transfer request form along with your gold IRA application. The transfer will take between 10 and 14 days, but you may be able to expedite the process if your current custodian accepts faxed documents.
If you want to move funds from a 401(k), 457(b), 403(b), or TSP account to a gold IRA, the process is called a gold IRA rollover. In most cases, you can only roll over funds when you change jobs or retire. However, if you are older than 59.5 years and still work for the company that created your 401(k), you may be able to complete a partial rollover.
There are two types of rollovers:
- Indirect rollover: Your current custodian writes you a check that you deposit in your bank account, then you re-deposit those funds in a new IRA within 60 days
- Direct rollover: Your current custodian writes a check payable to your new custodian
We recommend calling your current IRA custodian to determine the best way to roll over your funds into a gold or silver IRA.
Tips for Finding a Good Gold Investment Company
Finding the best gold IRA company can be challenging. Most gold IRA companies offer similar services, and you may have trouble narrowing your options to a single company.
Here are a few tips for finding a premier gold IRA company:
Do Your Research
Investing in precious metals is a serious task, and you shouldn’t simply choose the first IRA provider you find. Instead, we recommend setting aside plenty of time to research the best companies for your needs.
You can research gold IRA providers by reading articles like this one, performing Google searches, and visiting companies’ websites directly. This step can help you narrow down the dozens of gold IRA companies in the industry to a few options you can seriously consider.
Ask for Recommendations
One of the best ways to learn about a gold IRA company is to talk to current customers. If you have any friends, relatives, or acquaintances who have precious metals IRAs, we recommend asking them which custodian they use and how their experience has been.
If you don’t know anyone personally who invests in gold IRAs, you can also visit investment forums and seek recommendations from the members. Then, you can take the recommendations you receive and begin narrowing your list.
Read Customer Reviews
Gold IRA customers typically only write reviews of their custodians in two scenarios: they are very satisfied or dissatisfied with their experiences. As a result, reading customer reviews can help you learn these two extremes about a gold IRA provider.
Typically, the best gold IRA companies have overwhelmingly positive reviews. If you find a company that has several alarming negative reviews, you may want to choose a different option.
Examine Precious Metal Products
We also recommend browsing the precious metals product a gold IRA company offers. If you’re interested in purchasing a specific product, such as an American Gold Eagle coin, you’ll need to ensure that the provider you choose offers this product.
Additionally, some companies only offer silver and gold physical precious metals, while others sell gold, silver, platinum, and palladium. If you want a healthy mix of precious metal products in your portfolio, you may want to choose one of these versatile providers instead.
Review Costs and Fees
When you invest in a precious metal IRA through a custodian, you can end up paying anywhere from $150 to $500 per year in fees. Additionally, some companies upcharge their precious metal coins and bullion products, costing you more than the recognized spot price for that product.
As a result, before you begin investing with a precious metals provider, be sure to review its costs and fees. The last thing you want is to open an IRA with a company only to learn that it is much more expensive than others in the precious metals market.
Examine Storage Options
Your gold IRA provider should offer to store your precious metal products for you in a secure depository. However, before choosing a provider, be sure to review its storage options. The best depositories are fully insured, meaning that you can recover the value of your gold investments if the depository loses them or damages them.
Speak With a Specialist Directly
Finally, once you’ve chosen two or three gold IRA providers, we recommend calling them to speak with a representative. Doing so can help you understand each company’s customer service and helpfulness throughout the gold IRA investing process.
You’ll probably end up speaking with your representative fairly often until you finalize your IRA account. If a company is challenging to get a hold of or their representatives aren’t very knowledgeable, you may want to choose a different provider.
Types of Precious Metals You Can Hold in a Gold IRA
You cannot fund your IRA with just any precious metals. Instead, the IRS regulates the types of precious metals consumers can buy in an IRA. Here are the products you can include in precious metals IRAs:
Gold
Gold is the most popular precious metal investment product within IRA accounts. Most precious metal IRA companies offer numerous gold coins, gold bullion bars, and other gold products that you can purchase outright or include in your IRA.
A few of the most popular gold coins include:
- 1 oz American Gold Eagle coins
- 1 oz American Gold Buffalo coins
- 1 oz Australian Gold Kangaroo coins
Many companies also sell gold Combibars, which include perforations that you can use to break the gold bar into 1-gram sections. Many people purchase these gold bullion products to give small amounts of gold as gifts.
Silver
Silver is another popular investment product. You can purchase a wide range of collectible silver coins to include in your IRA, such as:
- 1 oz American Silver Eagle coins
- 1 oz Canadian Silver Maple Leaf coins
- 1 oz Chinese Silver Panda coins
These coins are valuable because of their silver content and rarity.
You can also purchase IRS-approved silver bars and rounds to include in your IRA.
Platinum
Platinum is a precious metal that is 30 times rarer than gold and has a range of practical uses. Manufacturers must meet strict quality standards when producing platinum products, leading many gold IRA investors to choose these metals over gold, silver, or palladium.
Precious metal IRAs can only include platinum with a minimum fineness of .9995. You can purchase any of the following coins for your precious metals IRA:
- 1 oz Australian Koala Platinum coin
- 1 oz Canadian Maple Leaf Platinum coin
- 1 oz American Eagle Platinum coin
- 1 oz Isle of Man Platinum coin
Palladium
Palladium is a precious metal in the same family as platinum. This metal is 15% denser than silver and is common in auto parts such as catalytic converters.
Like platinum, palladium must have a minimum fineness of .9995 to qualify for precious metal IRAs. It must also be produced by a national government mint.
The best precious metal providers know these requirements well and only sell IRS-approved palladium in their precious metal IRAs.
Reasons Why You Should Invest in Gold for Retirement
People choose to roll over their traditional IRA and 401(k) accounts to gold IRAs for many reasons. Here are a few benefits of investing your retirement savings in gold:
Relatively Stable Value
Historically, gold prices have remained relatively stable over time. While the value of gold increases and decreases according to changing markets and demand, this asset tends to be more stable than many other investment products. As a result, some people view it as a low-risk investment.
Hedge Against Inflation
When you keep money in a regular savings account, it loses value over time due to inflation. However, the cost of gold often increases when the value of the dollar falls. As a result, you can invest in gold as a hedge against inflation and prevent those paper assets from decreasing in value.
Protect Against Deflation
Gold is also a valuable investment during periods of deflation, such as the Great Depression. When everyday products are in low demand, the costs of goods decrease accordingly, and people end up with more paper assets than they know what to do with.
Purchasing gold offers a safe solution to store cash during market volatility. Because the cost of gold remains relatively stable, its purchasing power tends to rise during periods of deflation.
Diversify Your Portfolio
Maintaining a diverse portfolio is essential in reducing your investments’ volatility. If you keep all of your retirement money in one place, you risk losing your investment during a market crash.
As a result, transferring some of your assets from a traditional IRA into a gold IRA can effectively diversify your investment portfolio. If the stock market crashes, you will still have your gold investment to get you through the period of decline.
Frequently Asked Questions about Gold Investing
Is there a minimum investment for opening a gold IRA account?
Many precious metal providers have a minimum investment requirement for new accounts. This minimum can range from $10,000 to $100,000, depending on the company and the products you want to invest in.
Because you can only fund a gold IRA through an existing IRA, gold IRAs are not always suitable for new investors. Before proceeding, you’ll need to ensure that the amount your existing IRA has accrued meets the minimum investment requirement for your desired company.
What are the fees associated with opening up a precious metals IRA?
Gold IRA companies typically charge a few different fees. These fees cover the cost of opening your investment account and maintaining it long-term.
Here are the gold IRA fees you can expect to pay:
- Account setup fee: The cost to create your new investment account and transfer the assets from your existing account
- Administrative fee: The annual fee to maintain your investment account through the precious metals provider.
- Storage fees: The annual fee to store your physical precious metal investments in a secure depository.
Some precious metals providers allow you to choose your own depository. However, the IRS has requirements for storing the precious metals within an IRA account. While you may be able to save money by using an outside depository, you should ensure that it meets these requirements.
Can I store my gold IRA at home?
If you purchase precious metals as part of an IRA, you cannot store those metals at home. Instead, the IRS requires you to store them in an approved depository.
However, when you buy precious metals outside of gold IRAs, you can choose where to store them. Many people still choose to store their physical precious metals in a reliable depository to protect against theft and damage. However, some prefer to keep their silver and gold at home.
Storing gold at home can allow you to keep a close eye on it and sell it quickly when desired. However, your home is not as secure as a 24/7-monitored storage facility. As a result, you cannot be 100% sure that your gold will be safe from theft and damage when you store it at home.
How long does it take to open up a new gold IRA?
Opening a new IRA should take no more than three weeks. The longest step in the process is waiting for your current IRA custodian to transfer funds from your account to your new IRA. This process can take anywhere from 10 to 14 days.
Once this transfer is complete, you’ll need to choose the silver and gold products you want to include in your account. Your account representative will then finalize your purchase, which should take no more than a few days.
Is investing in gold a good idea?
At a glance, gold may seem like the perfect investment. Its value is relatively stable, it protects against inflation and deflation, and it can diversify your investment portfolio.
However, while investing in gold provides many benefits over other investment products, it isn’t perfect. If it were, everyone would purchase instead of other products.
We’ve already covered a few benefits of investing in gold, but here are a few reasons you may not want to invest in gold:
- It often underperforms other equities
- Its value is determined by supply and demand, which can be challenging to predict
- It does not have much functional utility or production value
Still, despite these downsides, gold is a popular retirement investment.
If you’re unsure whether to invest in gold, we recommend talking to a financial advisor. An advisor can review your existing investments and accounts and help you make a more informed decision.
Final Thoughts
Altogether, opening a gold IRA can help you diversify your retirement portfolio and provide a more stable way to grow your savings. All of the companies on our list offer reliable, noble gold investments with affordable fees and secure storage options, and you can’t go wrong choosing any of these providers.
Contact a gold IRA provider today to learn more about turning your retirement investments into gold.
