Before choosing a gold IRA company, consider the benefits of a few important factors. Regulatory compliance, competitive fees, and customer service are all crucial factors. While the big names may catch the eye, you don’t necessarily need the biggest name to get solid retirement savings.
Listed below are five gold IRA companies that are a good fit for your retirement savings needs. Read on to learn more. Listed below are customer testimonials, security, and competitive fees.
Customer Service
When choosing a gold IRA company, there are several important factors to consider. While most gold IRA companies must adhere to strict regulations, some may have more favorable customer service standards than others. The best gold IRA companies provide excellent service, a high level of security, and safe transactions.
They should also offer comprehensive account-lifetime support. A good example of a company that excels at providing outstanding customer service is Augusta Precious Metals. The Augusta Precious Metals website is extremely user-friendly. You can learn about goldco here.
It features a wealth of information about gold and silver bullion investments, as well as a comprehensive list of videos. It offers a free consultation and 24-hour customer support, including a blog.
A good gold IRA company should be able to address all customer concerns, no matter how large or small. Customers should also know that Goldco carries gold in different forms.
Competitive Fees
Finding competitive fees for gold IRA companies is essential to getting the most out of your IRA. Each gold IRA company will charge a commission on the precious metals they purchase, which is usually around 5% of the cash value.
Most gold IRA companies also charge a one-time setup fee of less than $200. When comparing prices and fees, look for transparent and straightforward pricing. Also, compare the annual storage fees. While most gold IRA companies do not charge liquidation fees, many add a markup to the spot price of the metals they buy.
This markup is a fee the company pays to facilitate the transaction. Some gold IRA companies disclose their markup. Other companies purchase directly from the miners themselves, which cuts out the middleman and reduces their markup. If possible, avoid using companies that charge liquidation fees.
Security of the Company
The key to investing in gold is choosing a reputable gold IRA company. You will find that the minimum amount of investment required is usually $25,000, but some companies do not require this amount of money. It all depends on your personal preference and your availability of funds.
Regardless of whether you decide to purchase bullion coins or smaller gold bars, a good company will keep you on the right side of IRS regulations. The vaults of an acceptable gold IRA company should have advanced security features, such as sound and motion sensors. They should also be monitored around the clock.
Finally, the firm must have significant insurance policies that protect it against loss or damage. Insurance policies of up to $1 billion are ideal. Beware of any firm that uses shady storage facilities. These companies may not be credible and could end up disqualifying you.
Regulatory Compliance
In order to hold your precious metals, gold IRA companies must be in compliance with IRS regulations. These laws require that the company store its investments in a secure location. Depending on your investment goals, the custodian may be a federally insured bank, a savings and loan, or another pre-approved facility.
Your custodian can either treat your precious metals like one single fund or detail each one individually. In some cases, you can even use a private depository endorsed by a commodities exchange.
When choosing a gold IRA company, it is important to look beyond the big name. Check the company’s website to ensure that it has a reputation for transparency.
Check to see if the company is associated with leading financial news organizations, such as Bloomberg, Yahoo Finance, CoinDesk, and The Huffington Post. Make sure that the company you choose is also regulated and has a high BBB rating.