Last Updated on March 11, 2023 by George
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Valuable metals As a strong inflation hedge, IRAs are a great way to diversify your investment portfolio. These IRAs are self-directed and provide numerous benefits that standard IRAs do not.
A precious metals IRA is frequently a lifetime investment; thus, choosing a metal dealer is a significant decision that must be made carefully.
You may have heard of the Patriot Gold Group if you are considering a precious metals IRA. You might be debating whether or not to choose this metals dealer for your gold investments or IRAs based on their level of reliability.
Here is a thorough Patriot Gold Group evaluation to assist you in selecting a precious metals dealer.
Before we begin this evaluation:
We know how challenging it is to choose a business you can entrust with your hard-earned savings. To offer you as much data as we can so that you can make the best decision, we produce informative and practical material.
To make comparing and selecting the company most suited to your needs as simple as possible, we’ve compiled a list of our highest-rated investment firms.
Investing in a precious metal IRA entails purchasing bullion bars or coins that Patriot Gold Group will store in your chosen location.
A precious metals IRA is advantageous for several reasons.
Here are several justifications for doing so:
Precious Metals Are Generally Safer Assets
Even while all investments have some risk, precious metals are safer because their values are generally steady, making it much less likely that you would lose money when you decide to sell them.
Because they are immune to inflation, precious metals are typically used to hedge against investment losses in an economic downturn.
You Have More Control Over the Investment
A precious metals IRA is a self-directed IRA, which means you have control over it, unlike other asset investments. You can select the unique metal coins and bars you want to purchase and determine who will store them and where.
Patriot Gold Group manages your IRA in a way that keeps you in charge of the account.
The Higher the Demand, the Greater the Value
The value of your investment rises together with the demand for precious metals, and this is due to the rarity and scarcity of precious metals.
Because gold is more difficult to mine than Silver, making it a rarer and ultimately more expensive asset, a gold IRA may be a better investment.
Who is Patriot Gold Group?
Patriot Gold Group is a preeminent precious metals and gold IRA company based in Los Angeles. According to the Business Consumer Alliance, they have been in the unique metal business for more than 30 years, having first welcomed customers in 1990.
In addition, the business is associated with the Numismatic Guaranty Corporation and offers a Professional Coin Grading Service.
It advertises an exceptional one-day turnaround time and works with IRA custodians and storage facilities for its clients to expedite the investment and resale process, thereby acting as a precious metals broker.
A Patriot Gold Group representative can be reached by phone to do transactions.
You would have to spend a lot of time managing interactions with a broker, custodian, shipping, and storage company with this help.
When orders are received from you, the client, Patriot Gold Group, smoothly controls this process to ensure that your investment or IRA is processed appropriately and quickly.
Additionally, the business has a reputation for offering exceptional customer service, with staff members eagerly explaining IRAs to new consumers.
The Products the Patriot Group Offers
Bullion bars, bullion coins, and coins designed especially for IRA customers are all forms of actual gold and Silver that Patriot Gold sells. Patriot Group, like most precious metals brokers, enables you to buy precious metals outside of a precious metals IRA in the form of bullion bars and coins.
Customers must familiarize themselves with the regulations that apply to each precious metal they contemplate before purchasing because some of these metal goods are subject to severe reporting restrictions.
When investing in precious metals or choosing Patriot Gold for your Silver or gold IRA, you may anticipate seeing the following top products:
Gold and Silver Coins
A wide selection of gold and silver coins is available from Patriot Group. The Patriot Group sells gold coins, some samples of which are as follows:
- The Gold American Eagle from the United States Mint
- Gold American Buffalo from the United States Mint
- Kruger Rand Gold Coin from the South African Mint
- The Maple Leaf from the Royal Canadian Mint
- Gold Philharmonic from the Austrian Mint
A gold IRA includes the following gold coins:
- Australian Spotted Eagle Ray 2021 from the Perth Mint
- The Gold Arctic Fox from the Royal Canadian Mint
- American Buffalo from the United States Mint
The business additionally sells silver bullion items. Here are a few instances:
- Proof Silver American Eagle Silver Coin from the United States Mint
- The Silver Polar bear from the Royal Canadian Mint
- Silver Arctic Fox from the Royal Canadian Mint
The following silver coins qualify for a Silver IRA:
- The Silver Polar bear and Cub from the Royal Canadian Mint
- Silver American Eagle Proof Coins from the United States Mint
- The Silver Arctic Fox from the Royal Canadian Mint
Gold bars are available from Patriot Gold. The only gold bars open are the 10-ounce from the Royal Canadian Mint, and their product selection is very constrained.
One of the advantages offered by Patriot Gold Group is Investor Direct Pricing. As opposed to specific metal dealers, the company does not impose a fee as a percentage of the customer’s precious metals order.
Instead, Patriot Gold Group charges a $225 startup fee for all new precious metals IRA accounts; however, this fee is waived if you invest more than $30,000.
In certain circumstances, Patriot Gold reimburses the $260 rollover cost consumers are charged in the first year and waives storage expenses for the first three years.
Its No Fee for Life IRA is available to accounts with a minimum balance of $250,000, which is a fantastic benefit.
It is crucial to remember that storage facilities for precious metals and the custodians determine their independent rates. Verify the associated expenses for the transactions you plan to do before opening an account so that you are ready.
Annual fees are assessed by custodians and are determined by several variables, including the client’s account balance. Patriot Gold collaborates with all stewards.
It has a lengthy history with custodians like STRATA Trust and Equity Institutional. They can direct you to a dependable partner if you need clarification about which one to choose.
Why Put Gold in Your IRA?
Individual Retirement Accounts (IRAs) safeguard your retirement and your family’s financial stability.
You can save money in these particular tax-sheltered accounts for future usage.
To enjoy a safe and pleasant retirement, it’s crucial to invest a sizeable amount of these long-term funds in trustworthy and strong assets.
Cash in an IRA is possible, but it depreciates quickly, and inflation is out of control.
There is no better asset for this than gold because it is dependable, holds its value over time, and even grows in value.
Uncertainty is at an all-time high as the global economy struggles due to lockdowns, shortages, conflicts, and inflation, and investors are defending themselves by putting physical gold in IRAs.
These economic crises, which have a negative impact on the majority of other assets, benefit investments in gold.
Risk is not taking action to safeguard yourself and your family against economic threats despite being aware of them.
Safety means understanding the risks to your financial future and taking steps to safeguard it. With a Gold IRA, this is simple to do.
How to Start an IRA with Patriot Gold Group
Transferring an existing self-directed IRA to Patriot Gold is a simple process if you already have one.
You may plan this transfer by phoning the Patriot Group’s call center. A representative will walk you through the procedure and have you digitally sign all the appropriate paperwork.
Forty-eight hours later, accounts are opened.
When opening a new account with the business, customers frequently follow a similar process that starts with filling out a registration form on the Patriot Gold Group website or calling a Patriot Gold agent.
Once you have paid the one-time cost and your account has been successfully set up and financed, you may start placing trading orders with Patriot Gold Group.
The speed at which the custodian transmits the money is frequently a factor in purchase timelines. We advise discussing the time required for fund transfers with several possible IRA custodians before deciding on one.
Following the receipt of the cash by Patriot Gold, trades are executed within two days. Patriot Gold Group ships your order to the storage facility of your choice after purchasing precious metals by IRS guidelines.
What Do Customers Have to Say About Patriot Gold Group?
Patriot Gold Group receives excellent client reviews, and customers appear to be pleased with the company’s customer service and turnaround time. Numerous positive consumer reviews have been placed online.
Here are a few of the general comments we could locate online.
- A non-profit organization called the Better Business Bureau, or BBB assists customers in determining how reliable a business is.
- The parent business of Patriot Gold Group, Halt Gold Group, has an A+ BBB rating, which is a reliable sign of the firm’s reliability.
- Patriot Gold Group also achieved an excellent five-star rating on ConsumerAffairs with just a few marginally negative reviews out of 128, which is remarkable.
The main issues raised here are the exorbitant upfront cost and disputes about coin values.
The company’s staff are praised for their patience when explaining the specifics of a gold IRA in Facebook reviews, which have an average rating of 4.4 stars, and Google reviews. Additionally, TrustPilot gave the business a 4.7-star rating after 32 customer testimonials.
“Since I spent almost 40 years working as a scientist, I am meticulous about only reading news articles from reputable, verified sources. This prompted me to look for alternative sources of retirement income, including Traditional IRA investments. As a result, I did a lot of research on highly regarded companies that specialize in both cryptocurrency and precious metals IRAs. I called Patriot Gold Group after making multiple phone calls, sending numerous emails, and giving it some thought. One of my best financial choices ever turned out to be this one.”
– Jean on Consumer Affairs from Neptune, New Jersey
“The Patriot Gold Group, in my opinion, is among the greatest gold IRA dealers in the USA. I was anxious about investing money in pricey metals through the Gold IRA, and Patriot Gold Group responded with restraint to each of my questions. I sought information from a few valuable metals agents and IRA guardians. I felt peaceful when I decided to invest money in this benefit class.”
– Indiana resident Robert B. on Trustpilot
“When I approached Patriot Gold Group, I had only heard of this form of investment from what I had read and heard about them. However, they spent time explaining the ins and outs of this investment and ensured I was at ease at every step of the route. I’m eager to conduct business with them for a stable future.”
– On BBB, Andrew S.
Pros and Cons
It is essential to consider both the positive and bad aspects of Patriot Gold Group’s business operations to determine whether or not they are a reliable dealer.
- The personnel at Patriot Gold Group are helpful and swift.
- Patriot Gold Group is a seasoned and well-respected business with more than three decades of experience.
- An IRA account can be opened quickly and easily.
- To provide clients complete control over their IRA accounts, Patriot Gold Group allows them to work with their choice custodian and storage firm.
Final Thoughts – Patriot Gold Group Review
It would be best if you didn’t choose a business to manage your retirement accounts without conducting an adequate investigation.
To assist you in deciding if Patriot Gold is the best choice for you, we have thoroughly evaluated the Patriot Gold Group.
There is no reason why you shouldn’t trust this organization to handle your silver or gold investment or IRA when you consider the rave ratings from prior customers, the exceptional customer care, and the quick response times.
Clients are also given a great lot of flexibility, allowing them to manage their own IRAs while yet getting the assistance they require to make the process easier.
If you want to switch to Patriot Gold, you can choose your custodian and storage space without changing custodians.
It is also acceptable if you need clarification on the type of custodian you need. Patriot Gold Group can connect you with an industry leader because they have established relationships with many of them.
The only negative is the higher initial cost, but considering all the advantages, it might be worth the extra money.