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Investing in gold is a popular strategy for diversifying a portfolio and protecting wealth. However, finding a reputable company to work with can be a daunting task. That's where reviews like this come in. This article will closely examine Franklin Gold, a company specializing in precious metals investing.
We will provide an in-depth analysis of Franklin Gold, including its history, product offerings, fees, customer service and reputation in the industry. Our goal is to give you a comprehensive understanding of the company and its services so that you can decide whether or not to work with them for your precious metals investing needs.
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About Franklin Gold
Franklin Gold is a well-known precious metals dealer in Los Angeles, California, specializing in gold, silver, platinum and palladium coins and bars. While companies need to be accredited by the Better Business Bureau (BBB), Franklin Gold is not accredited. However, it has a strong online presence has received numerous positive reviews from satisfied customers.
One of the advantages of working with Franklin Gold is the company's dedication to customer service. The company takes great care in ensuring that its clients are satisfied with their purchases and are well-informed about their investments. Franklin Gold offers customers various investment options, including gold IRAs and other retirement plans.
Another benefit of working with Franklin Gold is the company's commitment to transparency. The company provides customers with detailed information about its products, including each item's weight, purity and origin. This can be particularly important for customers who want to ensure their investments are ethically sourced.
In addition to offering various investment options and being transparent about its products, Franklin Gold has a user-friendly website that makes it easy for customers to browse and purchase items online.
Products Offered by Franklin Gold
Franklin Gold is a precious metals dealer based in Los Angeles, California, that offers its customers various products. The company specializes in gold, silver, platinum, palladium coins, bullion and rare and collectible coins.
The selection includes popular coins such as American Eagles, Canadian Maple Leafs and South African Krugerrands, as well as more specialized coins like pre-1933 U.S. gold and ancient Roman coins.
In addition to coins, Franklin Gold also offers customers the opportunity to invest in bars of precious metals ranging in size from one gram to 100 ounces. Customers can choose gold, silver, platinum and palladium bars from reputable manufacturers such as Johnson Matthey, Credit Suisse and PAMP Suisse.
The company also offers fractional ownership of larger bars through its Franklin Mint program, allowing customers to purchase a percentage of a 100-ounce bar and store it securely with the company.
Franklin Gold's selection of products caters to a wide range of investors, from those who are just starting to invest in precious metals to experienced collectors and investors. The company's focus on quality products from reputable manufacturers ensures that customers can have confidence in their investments.
Additionally, Franklin Gold's fractional ownership program offers a unique opportunity for customers to invest in larger bars without purchasing the entire bar.
Franklin Gold Storage Options
Brinks Global Services (BGS), a division of Brinks, Inc., is a leading international provider of risk management, secure logistics and security solutions. With a global network spanning 120 countries and nearly 1,000 facilities, BGS is always up-to-date on changes in markets and regulations. Customers can access in-house consultancy, trade show services and storage accounts.
One of BGS's areas of expertise is the storage of precious metals and their use with a Self-Directed IRA. Franklin Gold customers can store their metals in one of BGS's USA locations. As an IRS-compliant storage provider, BGS accepts all IRA-approved metals. The metals are inspected, placed in inventory and routinely audited upon arrival.
Another reputable storage option for Franklin Gold customers is The Delaware Depository. It is the nation's largest depository of precious metals outside of New York City and provides storage for precious metals to financial institutions and individual investors. It is also licensed with the CME Group to store silver, gold, palladium and platinum.
The Delaware Depository is in full compliance with the IRS's requirements. If you choose to store your metals here, you can utilize high-security vaults that comply with the Bank Protection Act and U.L. standards. Additionally, they maintain a $1 billion insurance coverage from Lloyd's of London.
With both BGS and The Delaware Depository, Franklin Gold customers can be recognized as the stored metal's sole owner and title holder, giving them peace of mind and security for their precious metal investments.
Why Invest in Precious Metals?
Investing in precious metals has been a popular way of protecting wealth for centuries. Here are reasons why investing in precious metals with Franklin Gold may be a good option.
Ways to Invest in Precious Metals
There are several ways to invest in precious metals. Each of these investment options has its own unique characteristics, risks and potential rewards.
Investing in physical metal means that you buy and own the metal itself. This includes gold coins, silver bars and other precious metal bullion. You can purchase these items from a precious metals dealer or online marketplace. Owning physical metal allows you to hold a tangible asset that can be stored securely and accessed easily.
Precious Metals Mining Stocks
Investing in precious metals mining stocks means investing in companies that mine precious metals. These companies include large mining corporations as well as smaller exploration companies.
Investing in mining stocks can be risky because the value of the company's stock can be affected by a wide range of factors, including commodity prices, geopolitical events and regulatory changes.
Precious Metals Exchange-Traded Funds (ETFs)
Precious metals ETFs are funds that invest in physical metals and trade on a stock exchange like a stock. ETFs are designed to track the price of the underlying metal they invest in. This makes investing in precious metals ETFs a convenient and low-cost way to gain exposure to precious metals without owning the physical metal.
Precious Metal Futures Contracts
A futures contract is an agreement to buy or sell an asset, in this case, precious metals, at a specific price and time in the future. Futures contracts can be traded on exchanges and investors can profit from price movements in the underlying asset.
Investing in futures contracts is considered high-risk because of the leverage involved and requires significant knowledge of the markets and trading strategies.
Precious metal mutual funds invest in companies that focus on producing, exploring or distributing precious metals. These funds may invest in mining companies or other types of companies that are involved in the production or distribution of precious metals.
Investing in mutual funds provides investors with exposure to a diversified portfolio of stocks, which can reduce the risks associated with investing in individual stocks.
How to Choose the Right Precious Metals Dealer
Choosing the right dealer is crucial to your success if you consider investing in precious metals. There are many dealers out there, but not all are created equal.
Here are some things to consider when choosing a precious metals dealer.
Precious Metals IRAs
If you're looking for a way to invest in precious metals, consider a precious metals IRA. This type of individual retirement account (IRA) allows you to invest in precious metals such as gold, silver, platinum and palladium.
One key aspect of a precious metals IRA is that it can be self-directed. This means you have more control over the investment decisions made within the IRA. With a self-directed IRA, you can choose which specific precious metals you want to invest in and change your investments as you see fit.
This is different from a traditional IRA, where your investment options are typically limited to stocks, bonds and mutual funds.
A self-directed precious metals IRA can give you more flexibility and diversification in your investment portfolio. You can choose to invest in physical metals such as bullion or coins or in exchange-traded funds (ETFs) that track the prices of precious metals.
You can also choose to invest in multiple types of precious metals, which can help to spread out the risk of your investments.
One thing to keep in mind is that self-directed IRAs come with added responsibility. You'll need to research the different precious metals available and make informed investment decisions. You'll also need to ensure that your investments comply with IRS regulations and guidelines.
IRS Rules on IRA-Eligible Precious Metals
The Internal Revenue Service (IRS) has set specific rules on the types of precious metals that can be held in an IRA. Precious metals such as gold, silver, platinum and palladium are allowed in IRAs. However, not all forms of these metals are eligible.
The IRS allows certain forms of gold, silver, platinum and palladium to be held in IRAs. For example, gold coins minted by the United States Treasury are allowed, including the American Gold Eagle, American Gold Buffalo and American Gold Eagle Proof coins.
Other allowed coins include the Australian Nugget/Kangaroo, Canadian Maple Leaf and the Austrian Philharmonic coins.
In addition to coins, the IRS allows certain bullion and bars to be held in IRAs. For example, gold, silver, platinum and palladium bars must be at least 99.5% pure. Gold bars must also be a minimum of 1 oz. in weight, while silver bars must be at least 1,000 oz. Platinum and palladium bars must be at least 1 oz in weight.
It is important to note that certain types of collectible coins and jewelry are not allowed in IRAs. Examples include the British Sovereign, the French Napoleon and the Swiss Franc.
How Do You Get Started with Precious Metals IRA?
Getting started with a precious metals IRA is straightforward. It's a similar process to opening any other type of IRA. Here are the basics.
Research and Choose a Custodian
The first step is researching and choosing a custodian for your precious metals IRA. The custodian will hold and manage your precious metals and ensure compliance with IRS rules and regulations. It is important to choose a reputable custodian with a good track record.
Open an Account
Once you have selected a custodian, you will need to open an account with them. This typically involves completing an application form and providing basic personal and financial information.
Fund Your Account
Once your account is open, you will need to fund it. You can do this by transferring funds from an existing IRA or 401(k) account or making a direct contribution. Remember that there are contribution limits for IRA accounts, so make sure you know these before contributing.
Choose Your Metals
With your account funded, you can choose the precious metals you want to invest in. The IRS has strict rules on the types of metals eligible for IRA investment, so make sure you are familiar with these before making any purchases.
Purchase Your Metals
Once you have chosen the metals you want to invest in, you can purchase them through your custodian. They will handle the transaction on your behalf and ensure the metals are safely and securely stored.
Monitor Your Investment
Monitoring your precious metals investment regularly ensures it performs as expected. You should also keep updated with any changes in IRS rules or regulations that may affect your investment.
Franklin Gold has established itself as a reputable precious metals dealer that offers quality products and services. However, better options are available for precious metals and IRA investments.
While Franklin Gold offers competitive prices and a range of products, other highly recommended firms have more extensive experience in the industry and a better reputation for providing excellent customer service.
These top companies offer a range of precious metals and IRA services, including self-directed IRA options and various storage options. They also have better IRA charges, making it more affordable to invest in precious metals.
Moreover, these companies provide various educational resources that help new investors learn about the intricacies of investing in precious metals.
If you're interested in investing in precious metals, it's crucial to research and choose the right dealer that offers the products and services that meet your needs. You should consider the dealer's experience and reputation, range of products, fees, storage options and customer service.
If you are looking to invest, don't forget to checkout our highest recommended companies!
Currently our #1 recommendation is offering up to $10,000 in free silver!
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