When you are preparing to open a new Gold IRA account or to roll over an existing IRA to a Gold IRA, there are a variety of things you need to think about carefully. As with any investment, avoiding scams is critical. This is why you need to know the elements to look for in a reputable Gold IRA company. The table at the bottom reviews the better ones in the business, with Regal Gold coming out on top for 2016.
|Comparison||Regal Assets||Advantage Gold||American Bullion||GoldBroker.com||Birch Gold||Goldline||Lexi Capital||Lear Capital||GoldSilver||Rosland Capital|
|Annual Fees||$250||$175||$160||1.5% of Value ($150 Min.)||$260||$175 Flat, Scaling Fees above||$195||$160||$300 Flat Rate, Scaling Fees for Higher Account Values||$225|
|Type of Storage||Segregated||Segregated or Commingled||Segregated and Allocated||Segregated||Commingled||Commingled||Segregated and Commingled||Segregated and Commingled||Segregated||Commingled|
|Preferred Custodian||New Direction IRA||Self Directed IRA Services, Inc||Self-Directed IRA Services||Matterhorn Asset Management||Self Directed IRA Services||GoldStar Trust||Self Directed IRA Services||Self Directed IRA Services||American Estate & Trust, Goldstar Trust, and New Direction IRA||Equity Institutional|
|Preferred Depository||Brinks Global Services||Brink’s Global Services USA and Delaware Depository||Delaware Depository||Malca-Amit||Delaware Deposit Company||Delaware Depository||Delaware Depository||Brink's Depository||Brinks and Delaware Depository||Delaware Depository|
|Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review||Read Full Review|
|Visit Website||Visit Website||Visit Website||Visit Website||Visit Website||Visit Website||Visit Website||Visit Website||Visit Website||Visit Website||Visit Website|
|Comparison||Editor Rating||Annual Fees||Type of Storage||BBB Rating||BCA Rating||Trustlink Rating||BuyBack Program||Preferred Custodian||Preferred Depository||Read Full Review||Visit Website|
|Regal Assets||$250||Segregated||A+||AAA||New Direction IRA||Brinks Global Services||Read Full Review||Visit Website|
|Advantage Gold||$175||Segregated or Commingled||A||AAA||Self Directed IRA Services, Inc||Brink’s Global Services USA and Delaware Depository||Read Full Review||Visit Website|
|American Bullion||$160||Segregated and Allocated||A+||AAA||Self-Directed IRA Services||Delaware Depository||Read Full Review||Visit Website|
|GoldBroker.com||1.5% of Value ($150 Min.)||Segregated||None||None||Matterhorn Asset Management||Malca-Amit||Read Full Review||Visit Website|
|Birch Gold||$260||Commingled||A+||AAA||Self Directed IRA Services||Delaware Deposit Company||Read Full Review||Visit Website|
|Goldline||$175 Flat, Scaling Fees above||Commingled||A+||CCC||GoldStar Trust||Delaware Depository||Read Full Review||Visit Website|
|Lexi Capital||$195||Segregated and Commingled||A+||None||Self Directed IRA Services||Delaware Depository||Read Full Review||Visit Website|
|Lear Capital||$160||Segregated and Commingled||A+||AAA||Self Directed IRA Services||Brink's Depository||Read Full Review||Visit Website|
|GoldSilver||$300 Flat Rate, Scaling Fees for Higher Account Values||Segregated||None||AAA||American Estate & Trust, Goldstar Trust, and New Direction IRA||Brinks and Delaware Depository||Read Full Review||Visit Website|
|Rosland Capital||$225||Commingled||A+||AAA||Equity Institutional||Delaware Depository||Read Full Review||Visit Website|
Gold IRA Scams to Avoid
Sadly, there are several different scams or at least disreputable practices going on in the Gold IRA business today. By being aware of them, you can avoid any missteps and potential problems with your Gold IRA down the road. Three of these frowned upon practices include the following:
• Free Storage – No investment is free. You should beware any Gold IRA company which tells you that they will store your precious metals at no charge. This would likely indicate that they are not storing any gold for you at all. Besides being a sneaky tactic to draw in unsuspecting investors looking for a bargain, it is not legal. The IRS requires that approved Gold IRA custodians charge something for the storage they provide. It is possible for there to be a promotional period with no storage charges, but not totally free storage.
• Collectible Gold Coin Sales – A number of different gold coin dealers will try to pressure you to buy collectible or rare gold coins. They push you this direction because they can charge higher spreads on these types of coins. In fact the markups on collectible gold can easily be 20% to even 30%. Goldline International was one of the outfits guilty of this practice in the past, but it has since reformed. If a Gold IRA company were to try to sell you collectible or rare coins for your Gold IRA, these coins would not be approved to be held in the account. Avoid companies that are pushing anything but approved bullion coins at a fair spread of 5% or less above the spot gold prices.
• Home Gold Delivery IRA Storage – There are gold dealer companies in the industry heavily promoting the Home Delivery Gold IRA. With this idea they tell you that you are able to store your gold at home by becoming your own administrator and vault custodian. This is at the present a grey area that the IRS has not yet ruled upon, but it violates the IRS provision against keeping your gold at home. It is safer not to get involved in a Home Gold Delivery scheme so that you do not quite likely find that you are on the wrong side of the Gold IRA rules and regulations in the future.
Things to Look for in a Gold IRA Company
• Reasonable Annual Fees – Some gold IRA companies charge considerably more than others. Look for companies that are charging reasonable startup fees and not overdoing it on the annual maintenance and storage fees. There is no reason to be paying $500 per year with these costs.
• Type of Storage – Segregated storage is superior to commingled. With segregated storage, your gold is kept in its own secured, locked space. Some Gold IRA companies offer either segregated or commingled storage. Others offer both types, though they will usually charge more for segregated storage in this case.
• High Ratings – Strong ratings are an important part of Gold IRA companies. Three main groups publish ratings on these companies. These include the Better Business Bureau, the Business Consumer Alliance, and Trustlink. If a company does not have high ratings or any ratings from at least two of these outfits, then be prepared to do some extra research to find out why.
• Approved Gold IRA Custodian and Depository – Gold IRA companies have preferred custodians and depositories that they work with on setting up and maintaining these types of IRA accounts. It is a good idea to check out these companies. They should both be approved by the IRS to handle Gold IRA accounts. After all, most likely they will be overseeing your account and storing your gold.
Why Regal Assets Ranks #1 in 2016
Regal Assets has long been considered the proverbial gold standard in the Gold IRA business. This was again the case in 2016. There are several reasons why they are so well regarded and so consistently win the approval and admiration of their customers. They boast the highest ratings from the three ratings organizations and also consistently have the highest rated client satisfaction. This comes in no small part from their decision to cover the Gold IRA new account or transfer fees for all of their customers. They also offer low, flat rate annual maintenance and storage fees to all accounts, regardless of how large they are. Besides this, Regal guarantees all of its customers segregated storage for any gold or silver kept in their customers’ Gold IRA accounts. Finally they offer an aggressive gold buyback program for all of their customers.