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Top 5 Precious Metals Companies of 2022 (Reviewed & Rated)

Top 5 Precious Metals Companies of 2022

*This is not a financial advice article. Refer to a professional for financial advice.

Are you looking into the best precious metals companies to help you diversify your investment portfolio with physical gold and silver?

Financial publisher, HowToInvestGold.com, has reviewed and rated the top 5 precious metals IRA companies of 2022 to help you identify the best option to grow and protect your wealth today.

In addition to sharing their research and findings, we will also cover some common questions and answers about opening a gold IRA account below.

Best overall gold IRA company: Goldco
PROMOTIONS GOLDCO
Get Up to $10,000 in FREE Silver (If Opening Up a Qualifying IRA)

INVESTMENT MINIMUMS GOLD IRA
Investment Minimums Gold IRA: $20,000-$25,000

INVESTMENT MINIMUMS CASH SALES
Investment Minimums Cash Sales: $3,500

Learn more
Read the full Goldco review.

Most trusted gold IRA company: Augusta Precious Metals
PROMOTIONS AUGUSTA
Get Up to 10 Years of Fees Reimbursed to Your IRA in Premium Silver Coins (Depending on the Size of Your Account)

INVESTMENT MINIMUMS GOLD IRA
Investment Minimums Gold IRA: $50,000

INVESTMENT MINIMUMS CASH SALES
Investment Minimums Cash Sales: $50,000

Learn more

Gold IRA Specialist: Birch Gold Group
PROMOTIONS BIRCH GOLD GROUP
Get Up to $10,000 in FREE Precious Metals on Qualified Purchases

INVESTMENT MINIMUMS GOLD IRA
Investment Minimums Gold IRA: $10,000

INVESTMENT MINIMUMS CASH SALES
Investment Minimums Cash Sales: $10,000

Learn more

Best alternative assets company: Regal Assets
PROMOTIONS REGAL
Get Your Admin and Storage Fees Waived for the First Year

INVESTMENT MINIMUMS GOLD IRA
Investment Minimums Alternative Assets IRA: $10,000

INVESTMENT MINIMUMS CASH SALES
Investment Minimums Cash Sales: $5,000

Learn more
Read the full Regal Assets review.

Best gold and silver trading company: BullionVault
PROMOTIONS BULLIONVAULT
Get 1/8 oz (4g) of FREE Silver Bullion on Your First Trade

INVESTMENT MINIMUMS GOLD IRA
Investment Minimums Gold IRA: None

INVESTMENT MINIMUMS CASH SALES
Investment Minimums Cash Sales: None

Learn more
Read the full BullionVault review.

Common Gold IRA Questions & Answers


Even though you have come this far to look for the best gold IRA companies to open a gold IRA account with, you may still have questions.

To hopefully answer all of them, we have listed some common questions and answers about gold IRAs.

What Is A Gold IRA?


What is a gold IRA?

To begin, a gold IRA is a specialized, self-directed individual retirement account designed to hold gold and silver, and other metals.

Just like traditional IRAs, a gold IRA allows pre-tax contributions, meaning that the investment earnings can accumulate tax-deferred.

A gold IRA (also called a precious metals IRA) differs from a traditional IRA in the sense that it strictly holds physical gold, silver, or other metals.

In contrast to a gold IRA, a regular IRA typically holds paper assets such as stocks, bonds, EFTs, funds, and so forth.

Benefits Of A Gold IRA


In uncertain times like these, it is more important than ever to turn to assets that help you hedge against inflation and other economic stresses to help strengthen your savings.

Opening up a gold IRA account has many benefits, and can, for example, help you:

• Hedge against a weaker dollar and increasing inflation
• Limit exposure to economic uncertainty
• Mitigate the effects of geopolitical instability
• Diminish negative fallout from the coronavirus economic crisis
• Diversify your portfolio
• Take real ownership of your financial future

Are There Different Types Of Self-Directed Gold IRAs?


Yes, there are two types of gold IRAs available:

1. Traditional-Based Gold IRA

With a traditional IRA, the contributions you make are tax-deductible (subject to income limitations). When you start taking distributions from your gold IRA, the amounts withdrawn are taxable as ordinary income. And you can start taking distributions without penalty when you are age 59½.

Traditional IRAs may be good choices for those individuals who anticipate finding themselves in a lower tax bracket once they reach retirement.

That way, they can realize tax benefits from their contributions during higher-bracket working years and pay taxes at a lower rate on withdrawals once they retire.

Note that a traditional IRA – including a traditional gold IRA – comes with a required minimum distribution (RMD) mandate. This means that you must begin taking annual distributions from your IRA starting at the age of 72.

2. Roth-Based Gold IRA

In contrast to a traditional IRA, with a Roth gold IRA, the contributions you make are NOT tax-deductible. This means there is no tax benefit generated from your account contributions that you will enjoy during your working years.

However, when you make withdrawals from your Roth IRA, you do not have to pay taxes on the distributions as you do with a traditional IRA.

Roth IRAs may be a prudent account choice for those individuals who believe the tax bracket they’re in during their working years is lower than the one they’ll be in once they retire.

They will not receive a tax benefit from their contributions while they’re still working, but they won’t pay taxes at all on their withdrawals during retirement when they’re in a higher tax bracket.

Additionally, there is no required minimum distribution feature of a Roth IRA. Something else to be aware of: As of 2022, your modified adjusted gross income must be less than $144,000 in order to contribute to a Roth IRA.

Please be aware that the guidelines presented here for both traditional and Roth IRAs are very broad. Before choosing between a traditional and Roth IRA, you should consult with your tax advisor to ensure you’re making the best decision on behalf of your own particular tax profile.

Do I Need To Pay Taxes On My Gold IRA?


By investing in a gold IRA, you will diversify your retirement portfolio on a tax-deferred basis and maintain the tax preferential treatment.

For this reason, transferring or rolling over a portion of your existing IRA account into a gold IRA will not trigger any tax implications.

In other words, you do not have to pay taxes on your contributions until you withdraw them.

However, there are limitations on how much you can contribute to these accounts each year, but these limits can change year to year. Your gold IRA company will be updated on these rules.

Learn How To Protect Your Wealth With Physical Gold & Silver

Crah-proof your retirement savings with a gold IRA

What Are The Fees Of A Gold IRA?


A precious metals IRA or gold IRA often comes with higher fees than a traditional or Roth IRA that invests solely in paper assets.

Typically, there are 3 sets of fees charged with a gold IRA:

1. Account Setup Fee

The one-time account setup fee is around $50 to $150. For example, Goldco only charges $50 in the setup fee.

Additionally, some companies waive this fee if the account size is big enough. To give you two examples, Augusta Precious Metals has a promotion where they will reimburse up to 10 years of fees to your IRA in premium silver coins. And Birch Gold Group waives all setup fees for new accounts over $50,000, plus shipping fees on all cash purchases of $10,000 and more.

2. Admin/Custodial Fee

Except for the setup fee, there is also an annual administrative or custodial fee, ranging from $50 to $150 depending on the account’s size.

3. Storage Fee

Lastly, storage fees are also charged by the depository ranging from $100 to $150 annually, depending on the amount of gold being stored. Plus, if you prefer segregated storage or non-segregated storage.

*4. How Do Gold IRA Companies Make Their Money

gold-backed IRAs

In most cases, companies charge a commission to make money.

Instead of the regular commission for purchasing or selling gold, most gold IRA companies add a “markup” to the spot price, which is essentially their take to facilitate the transaction.

Should I Buy Gold Bars Or Gold Coins?


When purchasing gold for your gold IRA, you can choose between bullion bars and sovereign coins.

The IRS has established guidelines for metal “fineness” standards to determine whether gold or silver in the form of bullion bars or coins is acceptable for a gold IRA.

This means that the IRS only allows specific gold and silver coins and bars, such as:

  • Gold or Silver American Eagles
  • Gold or Silver American Eagles (Proof coins)
  • Gold or Silver American Buffalos
  • Gold or Silver Canadian Maple Leafs
  • Gold or Silver Austrian Philharmonics
  • Silver America the Beautiful Coins
  • Gold or Silver Bullion Bars
  • American Silver Eagles
  • And more.
premium gold coins
premium silver coins

Image Source: augustapreciousmetals.com

No matter what bullion or coins you choose, a reliable gold IRA company knows what is and what is not acceptable for a gold IRA.

While both are essentially valued in the same way—per ounce based on the spot price of gold, coins may be easier to trade and tend to sell at higher premiums than bullion bars.

Besides, the markups are often higher on small bullion bars. And large bars are more suited for institutional investors.

However, all the gold IRA companies (listed above) offer favorable buy-back programs for both coins and bullion.

Free 2022 Gold IRA Guide: Augusta Precious Metals

How Do I Fund My Gold IRA?


Opening a gold IRA is great, but having it funded with an existing plan is even better. All gold IRA companies listed in this article assist with performing rollovers of various kinds, including:

• The full or partial rollover of a 401(k) or similar retirement account
• The full or partial rollover of a 401(k) or similar inactive retirement account
• Rollovers of less common plans and accounts, such as SIMPLE or SEP IRA

When working with any of these gold IRA companies, rollovers are not as troubling as they may seem.

The rollover is handled by a specialist on behalf of the custodian company, as well as any administration that the gold IRA company may employ. And the new gold IRA can be funded by several IRAs or receive only part of the funds that would go into another IRA.

Can I Rollover My 401(k) Into Gold?


Yes.

In fact, many people who choose to invest in a gold IRA are using funds they acquired while using a traditional IRA or company-managed 401(k).

Additionally, retirees also make the switch to gold with accounts they take with them upon leaving the workforce.

Many choose to roll over just a portion of their IRA or 401(k) to a gold IRA as a way to diversify their nest egg, which should always be the way to go. Learn more in our ultimate gold IRA guide.

Where Should I Store The Gold In My IRA?


IRS regulation has mandated that the bullion in your IRA rests with a certified depository, an entity separate from the custodian who will manage your daily paperwork. Needless to say, you cannot keep your IRA gold in a home safe, safety deposit box, or under the mattress.

Most gold IRA companies partner with different custodians that are carefully vetted and will make sure your metals are stored safely.

But if none of them are what you find suitable, you can introduce a depository of your own to the mix, provided it is compliant with regulations.

For example, Brink’s, the Delaware Depository, and IDS are fairly similar. While only IDS among the three offers segregated storage, all three have a similar set of bonuses:

• A standalone facility where the bullion is processed
• Both the facility and its vaults are managed using the best technology available to the depository
• They have security measures like high-defense vaults and electronic systems
• Adding to that, their assets are insured with a multi-fold policy

Generally, the company handles transportation logistics as well as insurance coverage.

Note: It is up to you to confirm that any company you invest with has all the required licenses, registrations, insurance, and bonds to protect your investment. So, ask for verification of those licenses and other information.
 

 

When Can I Take Distributions?


If you are at the qualified age to start getting disbursements from your account (usually 59 ½ ), you can choose to take funds in cash value. Or you can have the actual metals shipped to you directly

But be aware that you will be taxed accordingly and be responsible for any liability to the IRS for early withdrawals.

The bottom line is that you should treat a gold IRA as a long-term investment for retirement and hold it to maturity.

Note: Remember that you have to start taking payments at 70 ½.

How To Start A Gold IRA


To begin the process of opening a gold IRA is simple, especially when you partner with precious metals experts who know the ins and outs of this type of IRA.

Let us show you the easy 4 steps when opening a gold IRA next:

How To Start A Gold IRA Step 11. Select Your IRA Plan For starters, to invest in precious metals you have to start with a self-directed IRA. As an investor, you can begin a new IRA account or roll over from an existing retirement account. It is key to speak with a tax advisor and precious metals expert to make sure that you follow regulations and that any retirement accounts you currently hold are eligible for a gold IRA transfer or rollover, or other precious metals IRA.
How To Start A Gold IRA Step 22. Select A Precious Metals Custodian Second, gold IRA assets need to be stored with a custodian per IRS regulations. So, working with precious metals investing professionals, like those at Goldco or Augusta Precious Metals, will help you find a custodian experienced with gold IRA investing. That way, you’ll ensure that your self-directed IRA is set up correctly.
How To Start A Gold IRA Step 33. Select Your Precious Metals When choosing precious metals, it is important to remember that they need to meet certain IRS rules and regulations to avoid retirement mistakes when investing. Working with a precious metals specialist will ensure that you are choosing the right types of gold, other precious metals or crypto.
How To Start A Gold IRA Step 44. Purchase Precious Metals Once you have chosen your desired metals as an investment, you can purchase them and work with your custodian regarding storage. The custodian will keep your assets safe and secure at a bullion depository so that they will be available when you need them.
Protect your wealth like Sean Hannity with Goldco

How To Manage The Precious Metals In Your Account?


After the account is open and funded, getting started can feel a bit prohibitive. Even the die-hard gold investor might find some disagreements over the coin denomination to invest in. Those with less intent can succumb to external factors more easily, and in finance, these are always within arm’s reach.

All precious metals fulfill the same purpose in your account relative to other assets. More than likely, they are a form of hedge and were bought with safety in mind. But relative to each other, precious metals can have very varied utility.

Reasons for wanting your gold IRA to include:

Gold

  • The most defensive of the four and the safest pick. Gold has the least volatility to the downside, therefore often lacking explosive price action. It behaves remarkably in any crisis scenario, even when the setting is unprecedented.
  • The industrial aspect is present but limited. Though gold has plenty of utility and uses in manufacturing in a range of industries, it is mostly viewed as an investment metal. Even those buying gold jewelry often think about its pricing in weight down the line.
  • The widest range of investment options, in an IRA and outside it, and the most represented of the precious metals. Collectors and IRA investors alike will be strapped for choice when picking items from the inventory.

Silver

  • On the precious metals scene, oftentimes gold’s opposite. It is always both a safety play and a defensive one, as the metal never leaves this role on a broader scale. But within the precious metals spectrum, silver behaves differently from gold despite following its price.
  • Those who buy silver do not do it because it is cheaper than gold, as the saying goes, but because of its specific range of benefits. The metal has a huge manufacturing side, with green technology growing more popular. Any significant impacts in demand from the manufacturing sector would greatly benefit silver’s price.
  • A similarly varied range of investment options to gold, including many new and old coin varieties that can either be held in an IRA or outside it. Gold and silver both have a very pronounced sector of coin enthusiasts compared to the other two precious metals.

Platinum and Palladium

  • Within the context of precious metals, these could be considered industrial metals. They are every bit as volatile as silver but for different reasons. Palladium’s valuations exceed gold’s these days. Meanwhile, platinum, historically gold’s equal in price, sits around roughly half it.
  • Both platinum and palladium have a strained mine supply. Not a lot is being mined, and mining is highly localized. In palladium’s case, for example, nearly 40% of annual production comes from one country. This has contributed to the metal soaring to new all-time highs. Despite a dearth of supply, technologies making use of both platinum and palladium are on the rise.
  • One might think that platinum and palladium will have few investment options, but that is not the case. Besides a range of bars, plenty of investors are interested in sovereign coins made from either platinum or palladium.

Final Thoughts: Building A Gold IRA That Lasts


When it comes to your retirement, a gold IRA can help you diversify, protect, and grow your retirement savings account, as well as help you hedge against a weaker dollar and increasing inflation.

Even though your current investment situation and future goals are all unique, each of these gold investment companies has the expertise and knowledge to help you achieve the retirement of your dreams.

So, start by requesting any of these companies’ gold IRA information kits/guides, and a representative will reach out to you and provide you with all the information you’ll need to make the best investment choice for your future.

Disclaimer: The owner of this website is not licensed as an investment advisor and, accordingly, does not make any recommendations regarding clients’ personal investment portfolios. It is recommended that you carefully evaluate and research the risks and rewards associated with investing in alternative assets such as physical precious metals and cryptocurrencies before you make a purchase.

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