Best Self Directed Precious Metals IRA Companies Of 2022: Comparison, Fees

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The global economy teaches us that one thing that remains constant is inflation. Rising prices mean that your purchasing power will take a hit if your regular income sees a dip. When you’re in the workforce, tackling inflation doesn’t seem much of a problem. But when you are in your post-retirement life, you need some “safety net” that can help you cover your monthly expenses.

Many people advocate investing in mutual funds, but the 2008 financial crash indicates that secure individual retirement accounts (IRAs) are better for post-retirement life. Precious metals like gold top the charts when it comes to stability. Financial trends since the very beginning show how gold keeps appreciating with time.

These qualities make precious metals a good savings option. This article will help you find out about the best precious metals IRA to make the selection process easier for you.

Top 5 Self Directed Precious Metals IRA Companies

  1. Augusta Precious Metals – Best Self Directed IRA Precious Metals Company overall and most trusted
  2. American Hartford Gold – Runner up
  3. Goldco – Great Reputation
  4. Birch Gold – Best Gold IRA Staff Overall
  5. Regal Assets – Excellent Customer Service

#1 Augusta Precious Metals – Best Self Directed IRA Precious Metals Company overall and most trusted

When investing in precious metals, you will want to try out a company with a stellar reputation. You want your money to be saved, and you want to do business with a company that is famous for helping its clients. Augusta Precious Metals offers lifetime support to people interested in buying gold and other metals for investment purposes.

They also provide their clients with a personal assistant who assists them throughout the account creation process. For many people, understanding the world of investments is a bit tedious. Augusta Precious Metal provides well-compiled professional educational courses. It has learning materials produced by an economist on their staff who has graduated from Harvard University.

The company’s personal consultations help new investors better understand the nitty-gritty of precious metals and how investment in them will appreciate their wealth. Their website is also user-friendly, allowing people to navigate different options easily.

The company has a transparent fee structure, so you won’t have to worry about unexpected charges right after creating your account. It charges $50 for setting up your account. In addition, you will have to pay around $180 in storage and custodial fees per year.

Although the company has many pros, it has one drawback that makes many investors rethink their decision to opt for the company. It is its high minimum deposit requirement. The company expects you to have an initial investment amount of $50,000.

Clients have multiple options to choose from for metal storage. For those who want premium services, the company offers the option of one of the leading depositories, the Delaware Depository. Also, there are several other storage facilities approved by the IRS where clients can send their metals for storage.

Pros

  • Zero complaints
  • High-degree of transparency
  • Affordable fee structure
  • Good reviews – few complaints by customers
  • Fair pricing levels

Cons

  • Limited precious metal options
  • Minimum investment: $50,000
  • Unavailability of online purchase

Click here for Free Gold IRA Kit

#2 American Hartford Gold – Runner up

If you cannot afford to arrange a lump sum of $50,000 to create your investment account, you can consider going with another trustworthy company that provides secure investment instruments. The Better Business Bureau has given the company an A+ rating, and Trustpilot, an independent review site for consumers, has a total rating of 4.9 for the company – this indicates consumers’ trust in the products and services offered by the company.

Opening an account with the company is a breeze. It’s a three-step procedure where you must fill in the form, talk to an account executive, and fund the account. Once done, you will call them again and tell them about the metal you’re interested in buying. The firm will take care of the rest.

Like Augusta Precious Metals, American Hartford Gold also provides learning materials for its clients and prospective customers. It releases regular newsletters and blogs to inform customers about market trends – increases and decreases in prices and which metal is performing well, etc. The company also offers a buyback option to clients. So, if you sell your gold to the company, it will arrange the conveyance of the gold to its offices on its own and issue a check to you.

American Hartford Gold offers you the following storage options: Delaware Depository Service Company, Brinks Global Services, or International Depository Services (IDS). There will be additional charges for the storage. Usually, storage companies charge around $75 per year. This fee may vary depending on investors’ metals’ value.

Another attractive feature of the company is that it doesn’t charge any startup fees. It also doesn’t charge any fee for transporting your metal to the storage unit. The gains on the retirement account are tax-free, and investors can withdraw the money without penalty when they reach the age of 59 years and 6 months.

Pros

  • Customer support is available 24/7
  • Minimum investment is $10,000
  • Availability of extensive learning material

Cons

  • No price list online
  • Unavailability of shipping option outside the US
  • Slow transactions

Click here for Free Gold IRA Kit

#3 Goldco – Great Reputation

First-time investors who want an easy and hassle-free way to open individual retirement accounts can easily consult Goldco. The company has been enjoying a great reputation for over a decade now. It offers lucrative bonuses and impressive buyback programs. Goldco runs a blog with educational resources and articles to explain to people how their metals are performing and how they can manage their IRAs. It is an area where Goldco performs exceptionally better than its counterparts.

Customer support is available 24/7, assisting you with whatever help you need. The company has a 4.8-star rating on Trustpilot. Goldco believes in rewarding its customers. For orders of $50,000, it offers around 5-10% back in silver coins. Investors worried about the volatility of financial markets can easily go with Goldco as the company provides several buyback programs. It has 14 IRA-approved gold coins to offer to its customers.

One thing that may raise the eyebrows of prospective customers is the company’s hidden charges. Goldco hasn’t advertised its fee structure on its website, making it difficult for people to know how much they need to start their funds. Several reports suggest the company has a minimum initial requirement of $50,000.

Like several competitors, the company charges $180 per year to cover storage and insurance costs. It only works with the Delaware Depository and provides customers with the most secure storage options. You will store your assets in non-segregated vaults, meaning that the asset’s value as a whole will be preserved, not that of individual coins. To preserve individual coins, you should keep them in segregated vaults. For this, you will have to pay extra fees.

Pros

  • Great selection of precious metals
  • A+ rating by the BBB
  • Competitive pricing

Cons

  • High minimum: $50,000
  • Information is not easily available online
  • Works with only one storage company

Click here for Free Gold IRA Kit

#4 Birch Gold – Best Gold IRA Staff Overall

Birch Gold enjoys an A+ rating from the Better Business Bureau; the Business Customer Alliance has given it the rating of Triple-A. It is enough to show the credibility of the company and its high performance. Birch Gold is among the top IRA companies that enjoy a good reputation among thousands of customers. Independent review sites based on genuine customers’ reviews have given 5-star ratings to it.

Birch Gold offers silver, gold, platinum, and palladium. It also allows different metals IRA accounts to be rolled over into your gold IRA. It also has a list of informative articles on its website, which allows customers to learn more about investing in precious metals. Beginners find such information quite useful. However, one thing that is quite tedious for customers is the Birch Gold website’s interface, creating so many difficulties for consumers to navigate through it.

The company also deserves credit for its transparent fee structure. The minimum deposit requirement is at least $10,000. You will have to pay an additional $50 for the setup and $30 for a wire transfer. You will pay the additional cost of $200 to cover annual storage, insurance, and management fee expenses. It is a flat fee, meaning you won’t be charged an additional amount if your account keeps growing.

Pros

  • Several options for depository companies
  • Multiple options for custodian companies
  • Good selection of precious metals

Cons

  • Flat rate for fees
  • Long waiting time

Click here for Free Gold IRA Kit

#5 Regal Assets – Excellent Customer Service

Regal Assets entered the corporate world of investment in 2010, and since then, it has been providing premium services to its clients interested in opening a precious metal IRA. One thing that attracts most customers to the company is its zero-fee feature. Yes, Regal Assets charges no fees for IRA rollover or transfer.

The company’s credibility could be verified by the rating given by the Business Customer Alliance, which has given it a AAA rating. It charges a flat rate of $250 per year for storage and other services. This fee includes the services of segregated vaults, which is a great feature and different from the rest of the companies.

Regal Assets customer support representatives are available round the clock to facilitate customers and provide them with investing options. The company also provides educational material to customers to help them learn more about precious metals investments and other related market trends, helping customers make better choices.

However, there is one catch. Some customers were not happy with the services of the company, but it could be just one-off incidents. Overall, it enjoys good ratings on independent sites. It is a credible organization, which has been doing business for too long. You can choose the company without any inhibitions. But it is always advised to do your research to see if it is well suited for you.

Pros

  • Zero fees for IRA transfer or rollover
  • Flat annual fees
  • Flat storage fees

Cons

  • Online purchasing option is unavailable

Click here for Free Gold IRA Kit

What is a Precious Metal IRA?

Precious metal individual retirement accounts (IRAs) are a form of savings account that you maintain to save yourself from the disastrous impacts of economic fallout in the future. These accounts offer different high-performing assets like precious metals including gold, silver, platinum, etc. Conventional IRAs don’t allow this many investment options.

Many people are now moving towards precious metal IRAs because these metals appreciate with time. Undoubtedly, there are certain ups and downs in the prices of metals, but they don’t go through “crashes”. With this investment, you should be safe from the negative impacts of market volatility and inflation. You will have a good sum of money to use after your retirement.

Advantages of Precious Metals IRAs

There are several advantages of maintaining a precious metal IRA. Some include diversity in your investment portfolio, low credit risk etc. Precious metal IRA holders can enjoy the following advantages:

A precious metal IRA helps diversify your investment portfolio

Almost everyone is looking at ways to appreciate their money or assets. Given the economic conditions, it is safe to have some funds for the proverbial rainy days. But there is a phrase that says, “don’t keep your eggs in one basket”. Only one kind of funds option will add more risk to your savings.

Imagine saving all the money in crypto and then realizing that your hard-earned money has been lost because of an unpredicted crash. In the case of stocks, too, the share price of even the strongest share could suddenly crash. In this scenario, the precious metal IRA provides some safety to your portfolio. When you diversify your portfolio, you also distribute the risks attached.

If you want a secured retirement life, you should consider creating a precious metal IRA and diversifying your savings, keeping them safe from various market risks.

Beyond diversity, a precious metals IRA provides an opportunity

Do you remember the story of GoPro? It was a company that was soaring high. Its share prices increased, and many investors considered it a safe option. However, in a short span, the companies’ shares began crashing. Many investors lost their hard-earned money. Such cases are unfortunately quite common in the world of stocks.

These incidents also make new investors reluctant. Given that no one can predict how the market will perform, it is better to have your investments in commodities that appreciate with time. In that scenario, precious metals are the perfect choice for you. Whether you are a short-, medium-, or long-term investor, precious metals will benefit you at all stages.

There is a huge market for metals, which has been thriving forever. So, it would help if you were assured that your savings would not lose their value with time.

A precious metals IRA provides safety

Most investors have seen the bloodbath of the stock exchange in 2008. It was a time when even the real-estate boom bubble ended. Those who have witnessed the financial crunch up close would agree that having your savings made in secure and low-risk investment accounts is important.

When planning your retirement life, you have to realize that you won’t be at an age where you can deal with financial losses. You can deal with high-risk instruments at a young age because you have enough energy to work hard to compensate for your losses, but this situation is not too ideal if you are elderly.

Given the economic situation of the global markets, it is essential to invest in accounts that provide high-security levels and ensure that your assets will not lose their value.

A precious metal IRA gives you more liberty and authority, which is rarely given by other investment options

Various financial institutions are offering many savings funds. But when it comes to the withdrawals of the savings made, investors don’t have many options. In this case, a precious metal IRA lets you choose the withdrawal option on your own. You can either have the depository buy your metal or get the metal and sell it on your own. Both options are easy and stress-free and give you the liberty to do things your way. This kind of liberalism makes this instrument a favorite among many investors.

What are your Options Should you Choose to Invest in  Precious Metals?

There are different precious metals that you can choose from – some companies offer to invest in real estate and cryptocurrency when you open a precious metal IRA. The common ones are gold, silver, and platinum. Among these three, gold is the safest option. The thing with silver is that while its supply is huge, its demand is not impressive.

On the other hand, gold comes with great liquidity and is in popular demand worldwide. The gold market is also quite huge. From big industries to small consumers, most people are in demand for gold.

What Should Be Your Approach to Diversify Your Investments?

All financial experts agree that you should diversify your investments to guard against market risks. It means that you should not put all your funds in one scheme, regardless of the instrument’s safety. It is because no product can guarantee that things will not go awry. Wise investors choose different investment products to secure their funds. Many financial experts believe that an investor should invest between 5 and 10% of their total retirement funds in a precious metal IRA.

How to Open a Precious Metals IRA

Even though opening a precious metal IRA is not tough, it is still a bit more complicated than Roth IRA or traditional IRA. Investors will have to look at a few things, but the process is seamless overall.

Select a self-directed IRA custodian

A self-directed IRA custodian includes banks, trust companies, or other IRS-approved entities. Most investors are generally not informed about different precious metals available in the market for investments, and they need help to decide which asset to choose. Here, you will need custodians to enable you to invest in alternative assets. Such assets include precious metals like gold and silver and real estate.

Choose a precious metals dealer

Custodians can only help you reach the dealer; they cannot sell you the precious metals you are interested in. The second step you will have to follow is choosing a dealer. For that, you will have to do a lot of research; ensure that you’re choosing a genuine dealer. Scroll through dealers that have membership in trade groups like the Professional Numismatists Guild (PNG), Industry Council for Tangible Assets (ICTA), or American Numismatic Association (ANA).

IRA custodians also have professional associations with quite a few dealers, and they can help you choose one. However, it is still advised that you do your research to be too sure about their quality.

Decide what products to buy

Now you will have to work closely with the dealer to choose a precious metal. There will be several options available to you. You can ask your friends or other experts to have a sound understanding of the best-performing metals and which one will be most suited for you.

Choose a depository

You have precious metals with you. What’s next? It’s time you chose a depository, which is a place where you will store your precious store. The reason why you need an independent institution to hold your metals is that you cannot hold the metals on your own. Many IRA companies offer storage services and let you keep your metals in IRS-approved storage units. The Delaware Depository is the most trusted and secure storage option, the first choice of many investors.

Complete the transaction

Now that you have chosen a depository and a dealer – and you already have a custodian – it’s time you complete your purchase. The custodian will be responsible for the payments, and the dealer will get your metals shipped to the chosen storage unit (the depository).

How Do You Make a Withdrawal from a Precious Metal IRA?

Investors usually have two options: in-kind distribution or depository purchase. In the former, you will have your metals shipped to you directly. With the depository purchase option, you will sell your metals to the depository that has been storing your metal for all these years and enjoy the cash.

The taxation policies of these savings accounts are the same as that of traditional IRAs. You will have to pay taxes at the time of withdrawal. This process is a bit complicated. If you choose the in-kind distribution option, you must get your asset liquefied as soon as possible to pay taxes. Also, when you’re withdrawing the metals in intervals, you will have to make sure that it matches the pieces of metals you own. These metals are sold in ounces.

And in some cases, you will be forced to withdraw an amount larger than you had intended. Because this account doesn’t deal in USD transactions, you will have to follow some complicated rules to access your metals.

Final Thoughts – Best Self Directed Precious Metals IRA Companies

You cannot counter financial downturns and a slowing economy at an old age. As people enter their old age, they find it difficult to get a proper job for their monthly expenses. In such moments, retirement accounts prove to be quite beneficial. People can easily withdraw the amount they invested in their prime and cover their expenses.

Precious metals rarely lose their value, and they are low-risk investment products. Individuals who are interested in having some funds for their post-retirement life should consider looking into this option.

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