How to Select a Gold IRA Company

Kreg Bale
Kreg Bale January 7, 2022
Updated 2022/01/18 at 12:58 PM
Gold IRA

These days, everyone is looking for an investment platform so they can have financial freedom when they finally retire. We’re already aware that retirement funds won’t be sufficient to live comfortably on especially if you did not start saving on time. However, investing in precious metals presents an opportunity to increase wealth and live the life of your dreams.

You can invest in precious metals such as gold through a special IRA (individual retirement account). A lot of people are shifting their investment focus to this type of IRA. As a result, more gold IRA companies are springing up. After reading this article, you will find out how to select the company that will offer you value.

What’s a Gold IRA?

It is a self-directed IRA that allows users to own gold. You can have alternative assets such as the physical metal and cryptocurrency. Although you can’t own the physical form of the asset in a traditional IRA, it is possible to invest in assets that offer gold exposure. They include gold ETFs (exchange-traded funds) and gold mining firms.

Why You Should Open a Gold IRA

Here are a few reasons to open this type of account:

Personal Control

Since the account is self-directed, you can make personal decisions and manage all the holdings in your portfolio without interference.

Tax Benefits

You will benefit from the tax treatment that standard IRA owners enjoy. Your contributions are tax-deductible and you won’t pay tax on withdrawals.

Holding Duration

Physical gold is not as liquid as you may think and the same goes for IRA holdings. So, when you purchase precious metals, you must hold them for a long time, and IRAs offer such an opportunity. You won’t have to touch them until you attain the age of retirement.

Tips for Selecting a Suitable IRA Company

The advantages of owning a gold IRA do not come on a platter of gold; you must put in some work. This entails finding a company that will handle the entire investment process – rolling over funds from a traditional IRA, purchasing the precious metals, storing them, and selling them at maturity.

1. In-Depth Research

You don’t need to walk around the streets looking for companies that offer the kind of services you want. However, you can get recommendations from friends, account managers, brokers, and so on. You can also utilize the internet to your own advantage.

You can search with keywords like “gold IRA companies near me” or “the best IRA company for precious metals”. This will give you a list of companies, including reviews from trusted review sites. Reading such reviews will inform your decision because you will have a clearer picture of how each company operates and what they offer.

While researching, you must pay attention to some red flags such as:

Paid or Biased Reviews

There are several reviews on the internet, so you need to find out whether they are biased or not. Some affiliate websites are fond of writing paid reviews because they receive commissions when readers open accounts with the company through their articles. Such sites hardly write about the risks of using the company; they only emphasize the benefits. You can check out the to see an example of an unbiased review.

Negative Feedback from Customers

Sometimes, customers may not have a good experience with a company, so they go ahead and leave negative reviews online. It is normal to see a few negative reviews of a company’s services but when they become too numerous to count, something is definitely wrong. Additionally, even when the reviews are few, you need to know how the company resolved the issue.

The company’s approach will make you know whether the fault was from the client or the company itself. However, if 95% of the feedback is negative, it is a huge red flag that you shouldn’t miss.

2. Interact with the Company

After your online research or gathering recommendations, you need to meet the company personally. Some of them have both online and physical presence. If the company has a physical office near you, you may want to see it for yourself.

When you get to their office, ensure you ask a lot of questions. This will help you to authenticate their reputation. From your discussion with the staff, you will know how they treat customers. And you should trust your gut in this. If you have a bad feeling about the company, do not take any further steps.

3. Verify the Fees

Setting up a gold IRA involves a lot of money apart from the money spent on purchasing precious metals. Some companies place low prices on their websites but charge more when you start transacting with them. Hence, you need to be sure that there are no hidden fees.

Ask the company to state all their fees to avoid unpleasant surprises. You will only pay once for account set up but other fees such as maintenance, miscellaneous, and storage fees are recurring. You can read this article to learn about gold IRA extra fees. Lastly, it is good to find out in advance whether the company can help you sell your assets and how much they charge for such services.


Setting up an IRA for precious metals is a good investment for retirement, but dealing with the wrong company can ruin everything. Consider the tips shared in this article when choosing a company to handle your investment. Since there are many companies out there claiming to offer similar services, do proper research and verification before settling for one.

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