- 25 Jun 2021
- Precious Metals
- Comments: 0
There are plenty of reasons to invest in precious metals. Maybe you've been worried about the volatility of the stock market, and you want more stable tangible assets. Maybe you want some easily-liquidated holdings in case of emergency. Maybe you're diversifying your overall retirement portfolio.
Gone are the days when you had to go to an in-person brokerage or pawn shop to look for investments. Everything in today's modern world can be bought online. The same is true of precious metals.
But just like those brick-and-mortar brokerages, online dealers can vary widely in their practices. Some are scammers who misrepresent their offerings. Some mark up their prices while claiming to have the best deals on the market. Some will let you open an account, but will cause a lot of trouble if you ever try to withdraw your funds.
The best place to buy gold and silver online will vary depending on the services you need.
Are you looking to roll over your existing retirement funds? Then you want a company that specializes in precious metals IRAs. Do you want easily-liquidated, tangible assets? Then you want a company that offers survival packs at different income thresholds.
No matter your reason for buying, though, the most vital thing is that you choose a reputable dealer who will treat you right. They should offer products at competitive prices, have helpful customer service representatives, and answer questions without any drama.
We've reviewed a lot of the top players in the precious metals industry. We've seen the good, the bad, and the ugly. So with that in mind, we've put together this list of five dealers you can actually trust with your money.
Best Places To Buy Gold And Silver Online
Goldco is the top pick if you have any interest in investing your retirement savings in precious metals. Not only do they have a brokerage with a variety of gold and silver products, but they have all the technical expertise to set up a gold IRA account.
Goldco's specialty is in retirement funding. Because of this, they're a good choice for people with 401(k) or IRA funds that they want to roll over. The IRS has approved gold, silver, and other precious metals as alternative assets for retirement. But they do need to comply with certain regulations.
Several other options on our list also specialize in gold IRAs. Goldco edges them out simply because of how streamlined and easy their process is. But the other companies are definitely worth looking into as well.
Gold IRAs have been allowed since 1997, when Congress passed the Taxpayer Relief Act. Before that, precious metals weren't allowed as a retirement investment. After that, they could be used, provided they complied with regulations regarding the purity and type of metal.
One of the single drawbacks of the company is that they are not able to provide storage or custodian services. Some other companies operate their own vaults or partner with specific trusts that act as custodians. However, Goldco does often work with different brokers and custodians, so they can help you get set up.
There are several thousand reviews from customers who have had good experiences with Goldco, not just during the setup process but also when they're ready to take distributions.
The company's buyback program also makes it easy to liquidate your assets for cash. One of the biggest hesitations people have in precious metals investment is the liquidation process. Since you know that Goldco will buy back your materials at market price, you don't have to worry about compromising with a shady dealer.
In addition to helping you purchase gold and silver for an IRA, Goldco offers the following services:
It's recommended that you invest in at least 25,000 dollars of gold and silver to get started. You can add to the account as your retirement assets grow. Goldco reimburses your first year of storage fees.
When your account reaches the 100,000 dollar mark, you will need to pay 225 dollars annually for storage instead of 175 dollars. This is because of the increased vault capacity necessary to store your goods.
Goldco also has a program that allows them to send silver to you as a bonus for your investment. This silver is not part of your IRA, so it can be allocated to your regular investment portfolio.
You can fill out an online application to start the IRA process, or you can call to speak directly with a representative. You'll be emailed or directly mailed a guide to precious metals investment, which will let you examine the dealership's options and make an informed choice about what to purchase.
Keep in mind that as an IRA company, Goldco doesn't have services for regular investments. People who want to buy gold and silver as part of their normal investment portfolio will need to work with a different company.
Augusta Precious Metals is another excellent place to buy gold and silver. They are a trusted business that has been around for nearly half a century. In addition, unlike some other longtime dealerships, they've managed to keep up with the modern demand for ecommerce solutions.
Augusta is extremely customer service oriented. Every customer has a dedicated specialist who can answer your questions and walk you through the buying process. You remain with the same specialist for your entire time working with the company, whether that's a single purchase or years of contributions.
In addition, the company has several different departments with more highly trained specialists. This allows them to retain the top experts in things like IRS regulations, paperwork, tax planning, precious metals, and investment advice.
Like Goldco, Augusta's main specialty is in gold and silver IRAs. They have retirement planning services that assist people living in the US. You do have the option to make personal investments outside of retirement contributions, though.
If you're adding to your personal investment portfolio, you can expect to pay close to market price on your metals. You also won't need to pay the same fees that come with an IRA account setup. Personal investments can be paid by credit card, bank wire transfer, or personal checks.
The bank wire transfer tends to be fastest and easiest. Personal checks need some extra time for mailing and processing. Credit cards might be slightly faster than bank transfers, but you can only purchase 5,000 dollars worth of metals at a time.
If you do set up an IRA with the company, the fees are among the lowest on the market. Account setup itself has a flat fee of 50 dollars. You'll need to pay 100 dollars annually for storage and 80 dollars for custodial maintenance. These fees remain flat no matter how small or large your account is.
One tradeoff for the low fees is that there is a minimum investment threshold of 50,000 dollars for an IRA. So this company might not be the best option for people who don't have a lot of assets to invest. At the same time, they're a great choice if you do have the means.
Reviews of Augusta tend to be overwhelmingly positive. They have received top ratings from Trustlink, the Business Consumer Alliance, and the Better Business Bureau. Most customers are highly satisfied and praise the company's service. On Facebook, the company's review after is 4.8 out of 5.
You can also be assured that the employee culture is positive. Glassdoor rates the company 4.5 out of 5, indicating that it's an excellent place to work. The experts there are never pressured into upselling, and everyone reports that they feel respected and not overworked.
If you're using the IRA services, you will be given access to an online account that shows you your investments. You'll see daily updates and information about the growth of your assets. In addition, every customer gets a quarterly report from Augusta summarizing their account growth.
All in all, this is a solid company whether you're buying gold and silver for personal or retirement purposes. Just keep in mind that retirement accounts need to meet a 50,000 dollar threshold for opening. There isn't any such minimum investment when it comes to personal purchases.
#3. Birch Gold Group
Birch Gold Group has been selling gold and silver since 2003. In addition, they sell platinum and palladium. The company works to help people set up their own gold and silver IRAs, providing IRS-compliant products to fill a newly created account.
Several staff members with the company serve in expert organizations like the Forbes Finance Council. They stay abreast of different factors affecting the global economy, helping clients to understand the risks and benefits of different investment options.
Like Augusta, Birch Gold focuses on IRAs while also providing products for personal investment. You can purchase pure gold and silver bullion or coins whether you're funding a retirement account or not.
In addition, Birch Gold has constructed a department made up of in-house IRA specialists. These people can take you through the process of setting up an IRA, rolling over your existing funds, and choosing the gold and silver for the account. They're familiar with tax codes, paperwork, and IRA custodian regulations.
Birch Gold prioritizes client education above all else. Their goal is to communicate effectively with people, teach you about precious metals investment, and empower you to make the best decisions for your financial future.
Rather than focusing on how to make the most money in the short term, Birch focuses on creating long-lasting relationships with clients. They aim to be a brokerage that you can trust. Many people have noted that they felt safe putting their money in Birch's capable hands.
One issue that some people run into with self-directed IRAs is finding a custodian. Even if you have a managed IRA already, your custodian might not be licensed to handle precious metals IRAs. So Birch helps people connect with the right custodian when need be.
Once you invest in metals for an IRA, Birch will have them securely shipped to an IRS-approved depository. They work with several top-level industry experts to ensure that everyone's packages arrive safely. All packages are insured, as are the storage vaults.
Whenever you need an update on how your investments are doing, or you're looking for an answer to a question, your specialist is available. If your question is more niche or specific, they will refer you to an expert in the right department to get an answer.
The most common custodian that the company uses for IRAs is Equity Trust. If you work with them, you can expect to pay 75 dollars for custodial fees and 100 dollars for storage every year. The fees cover a one-billion dollar insurance policy that protects all of your metals from theft or damage.
The company has an A+ rating with the Better Business Bureau, and they have made an effort to resolve all customer complaints. Customers have indicated that they're satisfied with company resolutions. Trustlink gives the company 5 stars, and Consumer Affairs has an average review score of 4.8 out of 5.
#4. Regal Assets
Regal Assets is a relatively new company in the industry, having been selling gold and silver for less than a decade. From the beginning, most of their business has been done online.
The company stands out because they broke into an extremely competitive industry and managed to establish themselves as trusted experts. Today, they're one of the first go-tos when anyone has questions about precious metals or cryptocurrency investments.
Regal Assets helped their customers during the 2020 pandemic, in which many people's assets saw depreciation because of the economic crash. When the stock market was experiencing volatility, the price of gold and silver became much higher. People who invested with Regal Assets found that their investments were more stable as they rode out the market fluctuations.
There are four different types of portfolio and two different types of personal package that you can invest in. Each is based on a dollar amount rather than a specific type of gold or silver, so you always know exactly how much you're spending right away.
The portfolios are built for precious metals IRA investors. The lowest investment is a 25,000 dollar one, which creates a legacy portfolio with potentials for quick short-term profit.
The next portfolio is the Kingship, which has a 50,000 dollar minimum. This helps to protect your assets against inflation, so they stay the same value as the dollar depreciates. You also get a customized model based on your investment needs.
The Dynasty option, with a 100,000 dollar minimum, is built for high short-term and long-term returns. It also helps people protect themselves from uncertainty in the market and inflation.
If you have a high net worth and want to invest a lot in precious metals, there's the Coronation option. This has a minimum investment of 250,000 dollars with no maximum contribution. People who invest in this option will have dedicated service to help accumulate more wealth over long periods of time.
The personal packages are for those who want to invest in their personal portfolios rather than an IRA. As such, they're subject to the same tax rules as other personal investments. You also won't need to pay extra fees like you would for maintaining an IRA.
The lowest investment option is the Merchant package, which costs 5,000 dollars. It involves a combination of hand-selected silver and gold assets that you can quickly liquidate if need be. You can have the package delivered to the address of your choice, but it's highly recommended that you store the metals somewhere secure.
The other personal package is called the Knighthood option, and it costs 10,000 dollars. This is meant to provide protection for people who might need to liquidate enough assets to support their family through several weeks of rough times.
If you're looking to invest in gold or silver because you're worried about stability in a potential disaster, this company has you covered.
In addition, Regal Assets has cryptocurrency investment options for people with a high risk tolerance. If you've been interested in joining the crypto market, the company's specialists can explain the different currencies they offer, as well as the risks and rewards of investment.
People who invested in cryptocurrency through Regal Assets several years ago have seen significant growth in their portfolios.
#5. Noble Gold
Noble Gold is another one of the best companies for investing in gold and silver online. In addition to having robust IRA services, they allow you to make personal investments that can be shipped right to your door. Several of their packages focus on emergency preparedness, so they're good for people who want to buy gold and silver as part of a disaster plan.
The company's offerings can be divided into two categories: their gold and silver IRAs, and their survival packs. The survival packs are built for personal investments and include hand-selected gold and silver products that can be easily liquidated.
In addition, for those interested in opening a precious metals IRA, Noble Gold has great promotions for new consumers. Their minimum investment is just 2,000 dollars, which is much lower than a lot of other brokers. You'll also only need to pay 225 dollars in total annual fees, rather than paying a percentage of your account value.
The survival packs are a one-time purchase that don't have any annual fees. You do need to invest 5,000 dollars at minimum, though.
Several types of rare coins are available for purchase through the company. These collectibles are a riskier investment than pure precious metals, but they have more potential for growth. Since they aren't compliant with IRS regulations, they can only be purchased as personal investments rather than IRA contributions.
Like the other companies on our list, Noble Gold has excellent online reviews. Their Better Business Bureau rating is a perfect A+ thanks to their stability, honesty, and adherence to stated policies. Trustlink and Consumer Affairs both give them a perfect 5 star score.
If you're curious about buying gold and silver, but you're not sure where to start, the company also has a free guide to download through their website. This teaches you about the precious metals market, factors affecting your investments, and how rollovers on your existing retirement accounts work.
In addition, Noble Gold is among the only IRA dealers to offer precious metals storage in Texas. That makes them a good choice for Texans who want their metals kept close to home.
The right precious metals dealer for you depends on your needs. You can buy gold and silver from any of these companies online and be treated to a mess-free, hassle-free, easy experience. No matter which you choose, you'll get stellar customer service and high-quality products.
If you're looking to open a gold and silver IRA, our top pick is Goldco. The company employs IRA specialists who streamline the entire process. Once you're set up, you get a lifetime of customer support, plus ongoing updates about your holdings.
Goldco is unbeatable when it comes to precious metals IRAs, but Augusta Precious Metals is a close second. This is the place to go if your biggest priority is superb customer service. Every employee is an expert in a niche aspect of the investment process, so there's always someone available who knows what they're talking about.
Birch Gold is another group that mainly specializes in IRAs. They even have their own IRA Department, which handles the opening and maintenance of all new accounts. You can also make purchases for personal investments, though. This is the top choice for people who want solid educational resources. You'll learn enough to make your own investment decisions in the future.
Regal Assets is our top pick if you're interested in other types of alternative assets as well. In addition to buying gold and silver, you can invest in several different types of cryptocurrency. The company's specialists can offer guidance on how to diversify your investment portfolio based on your goals and risk tolerance.
Noble Gold is a solid choice for investors who want to branch out beyond IRAs. In addition to offering IRS-approved products, they also have collectors coins that have all been graded and certified. You can invest in the company's Royal Survival Packs, which include hand-chosen assets that can be easily liquidated in emergencies.