- 19 Oct 2022
- Precious Metals
- Comments: 0
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Have you been reading up on the benefits of a Gold IRA? Do you think you're ready to diversify your portfolio and make yourself less vulnerable to the ups and downs of the stock market? If so, now may be the right time to contact Birch Gold Group about setting up a Precious Metals IRA.
Before you pick up the phone and give the company a call, we'd recommend learning more about their business practices and the products they offer to ensure that they're the right fit for you. Keep reading to identify key details to help you make a decision, including the fees charged by Birch Gold Group and some examples of coins and bars you can add to your new Gold IRA.
About Birch Gold Group
Birch Gold Group was founded by Laith Alsarraf in 2003. In the nearly two decades that have followed, the company has developed a solid reputation in the precious metals industry.
Birch Gold Group is highly reviewed, both by past customers and review organizations. If you read through reviews on websites like Google, Facebook, and Trustpilot, it shouldn't take you long to come to the conclusion that most customers were very pleased with their decision to work with Birch Gold Group. Clients have a lot of positive things to say about their interactions with the company, the customer service they received, and how the representatives they worked with helped them set up their new Gold IRA.
The Business Consumer Alliance's AAA rating and the Better Businesses A+ rating for the company should help provide additional evidence of the integrity and trustworthiness of Birch Gold Group. These two ratings are the highest offered by each organization and speak to the type of service you should expect as a customer.
While there are several other precious metals providers, there aren't that many that have earned this high praise from past customers and review organizations. This helps Birch Gold Group stand out compared to the rest of the field. When you read through customer reviews, Birch Gold Group's personal approach to each customer appears to be one thing that really sets them apart from other companies.
You can also read more about Birch Gold Group's value on their website. These values include education, empathy, ethics, customer empowerment, efficiency, and transparency.
Birch Gold Group has partnered with Ron Paul and is regularly featured on the Ben Shapiro show. These endorsements can help provide you with additional peace of mind about the company.
Birch Gold Group Fees
To open a Gold IRA with Birch Gold Group, you'll need to have a minimum of $10,000 in an existing retirement account to rollover to your new Gold IRA. In addition to this minimum, there are some account fees you'll want to be prepared for.
First, Birch Gold Group charges a $50 initial account set up fee. This fee covers all the work that your representative will need to do to open your account and help you add the precious metals you wish to invest in.
There are two yearly fees charged by Birch Gold Group as well. The first is an $80 annual administration and maintenance fee. The second is a $100 annual storage fee. Sadly, due to IRS regulations that require the precious metals for an IRA to be stored in an approved depository, there is no way around this fee. All Gold IRA customers will have to pay for storage, regardless of the company they choose to work with.
Birch Gold Group also charges a $30 wire transfer fee, which is pretty standard.
If you open an account with a balance of over $50,000, the fees for your first year as a Birch Gold Group customer will be waived.
Why Should You Invest in Precious Metals?
If you're reading this and thinking about setting up a precious metals IRA, you're likely already familiar with many of the benefits associated with investing in gold, silver, platinum, and palladium. Here is just a short recap of several of the benefits you'll enjoy when you invest in precious metals:
Opening a Gold IRA with Birch Gold Group
As we shared above, two of the values that Birch Gold Group holds dear are education and customer empowerment. They want to help each of their clients learn more about the benefits of investing in precious metals and adding gold, silver, platinum, and palladium to an IRA. Their website can be a great resource for those looking to learn more about the benefits of investing in precious metals and why adding precious metals to a retirement account may be a smart move.
After reading through the information on the website, you may still have a few questions about whether investing in precious metals or adding them to an IRA is the right move for you. If this is the case, don't hesitate to contact a member of the Birch Gold Group team. They'll be able to answer any specific questions you have and offer advice tailored to your specific situation and retirement goals.
Once you've had all of your questions answered and are ready to open your new Gold IRA, Birch Gold Group has worked to make the process as straightforward as possible. The first step will be to confirm that your existing retirement account qualifies for a Gold IRA rollover. Most account types will qualify, but your representative will help you check for your specific account.
Once it is confirmed that your account qualifies for a rollover, you'll work with the representative from Birch Gold Group and a Gold IRA custodian to transfer the funds from your current account to your new Gold IRA account. You'll have plenty of support and access to help as you complete the necessary paperwork for this step.
Then, after the funds for the new account arrive, you will have the opportunity to select which coins and bars you'd like to hold in your account. As we'll share below, Birch Gold Group offers a wide selection of options. With this many choices, you may feel overwhelmed about what to choose, but your account representative will be available to offer support and guidance as needed.
Each year, you'll be able to contribute up to $6,000 to your Gold IRA (or $6,000 total between multiple IRA accounts). The IRS allows individuals who are 50 or older to contribute additional funds to their retirement accounts, for a total of $7,000. When you're ready to make new yearly contributions, the team at Birch Gold Group will be available to help you out.
IRA-Approved Coins and Bars
Below you'll find more information about the gold, silver, platinum, and palladium coins and bars that Birch Gold Group's clients can add to their Gold IRA. If you've looked around at other companies, you may already know that many do not offer the option to invest in platinum and palladium, so this is another advantage of choosing to work with Birch Gold Group.
All of the coins below satisfy the minimum purity requirements outlined by the IRS. These requirements state that gold coins and bars (with the exception of the American Eagle Gold Coin) must be at least 99.5% pure, silver coins and bars must be at least 99.9% pure, and platinum and palladium coins and bars must be at least 99.95% pure.
Here are several of the available options through Birch Gold Group:
IRA Precious Metals Storage
Like we mentioned above, IRS rules prohibit individuals from acting as the custodian for their own precious metals. This means that you are required to store your metals in an IRA-approved depository. While this may seem like a downside, it actually can be viewed as a benefit.
The IRS only approved depositories that follow strict security protocols to ensure the safety of your precious metals. All holdings are further protected by a full-coverage insurance policy. So, in the unlikely event of theft, loss, or damage, your investment will be safe, and you'll have the funds you need when you retire.
Birch Gold Group works with four of the most-trusted depositories in the country. These are The Delaware Depository, Brink's Global Services, International Depository Services, and The Texas Precious Metals Depository.
Special Promotion for IRA Customers
As a new IRA customer with Birch Gold Group, you'll also be eligible to take advantage of the promotion they're currently running. They are offering qualifying customers up to $10,000 in free precious metals. When you roll over an existing retirement account, you'll receive free precious metals. For example, retirement accounts with a balance of at least $1,000,000 will receive the full $10,000 in free metals. Smaller accounts can also benefit from the promotion and receive some free precious metals as well. If you have questions or want to see if your account is qualified for this promotion, reach out to a member of the Birch Gold Group team.
Birch Gold Group Fees: Final Thoughts
Adding precious metals to a retirement account can help you make sure you're ready for retirement. Birch Gold Group charges reasonable fees in line with what you'll find with other precious metals providers. With their nearly two decades of experience and the reputation they've earned in the industry, they would be an excellent choice when you're ready to set up a Gold IRA. Contact a member of the Birch Gold Group team today to get the process started.