Can Augusta Precious Metals be trusted or is it a scam? Is it a regular precious metals company or is it equipped with products and services you can potentially benefit from? It might be difficult trying to navigate investing in gold and silver or other precious metals, which is why you’ve possibly looked into Augusta Precious Metals. We have researched everything you need to know about this company to ensure you make the right decision. Continue reading our comprehensive Augusta Precious Metals review to find out more.
About Augusta Precious Metals
Augusta Precious Metals is a family-owned precious metals seller and gold IRA services provider that’s run by Isaac Nuriani. This enterprise has almost 50 years’ worth of experience in the precious metals industry while being truly service orientated and trusted by many Americans.
Countless individuals have selected Augusta Precious Metals as their trusted gold and silver partner when embarking on their journey to creating wealth while ensuring their retirement is sorted through gold IRAs. Investors in Augusta Precious Metals can open self-directed precious metals IRAs while also buying gold and silver in deals unrelated to the opening SDIRAs.
Hall of fame quarterback Joe Montana, who proudly displays the Augusta Precious Metals logo, is known for being a customer of this business. He was first introduced to Augusta when his financial advisors recommended this company to preserve his retirement savings. After investing in these services, Joe Montana was made the company’s corporate ambassador. Since then, many more clients have joined the Augusta family, and Joe Montana, and gained satisfaction with this decision because of the company’s organized and streamlined approach.
How Does Augusta Precious Metals Work?
Throughout the purchasing phase, Augusta Precious Metals provides you with a Seven-Day Price Protection Program. This typically locks the current price rate at the time you make this purchase and confirm it through your phone.
When purchasing precious metals from this company, bullion prices are typically locked whenever the company receives the money used to make the respective purchase. Additionally, Augusta Precious Metals also tends to offer discounts on prices for bullion when making a large purchase.
After opening your gold IRA account, you receive a $2000 silver bonus, which you may want to utilize alongside a running initial qualifying investment. If you invest in premium gold and silver from this company, you’re allowed to cancel these orders within a week from the time this order is made without any questions asked. Finally, all subsequent bullion orders and purchases are made final after this order has been confirmed.
How Do You Open a Precious Metals IRA Account on Augusta Precious Metals?
Opening an IRA with Augusta Precious Metals is relatively easy. All you need to do is follow the three easy steps laid out by the company. Additionally, you can receive assistance from a representative who is knowledgeable about IRA opening. These representatives generally help those who reach out to them to make these IRS-approved selections that can help achieve their investment objectives. These selections are gold and silver coins minted by popular treasury departments and mints. Here are the steps you can follow to create an Augusta Precious Metals IRA account:
Step One: Open an Account/Self-Directed IRA
When opening an IRA account, Augusta Precious Metals typically recommends that you work with any of the below-mentioned custodians:
· Kingdom Trust
· Goldstar Trust
· Equity Trust
These are some of the best companies you can find in the market while owing to their exceptionally high level of compliance and integrity.
Step Two: Send Money to Your Account
The next step after opening this account is to transfer money from your bank account. Otherwise, you can deposit these funds by making a gold IRA rollover. This can be done from an existing IRA.
Step Three: Buying Gold and Silver
Once you have successfully set up this account and added funds to it, you can buy gold and silver for this newly created IRA. When you do make a purchase, these precious metals are generally stored inside a secure facility that has been insured.
Utilizing Augusta Precious Metals gives you the option of many different forms of precious metals when you purchase gold or silver. You can choose between bars, bullions, and many others.
Our Comprehensive Augusta Precious Metals Review
Augusta Precious Metals representatives are equipped to collaborate with investors and open a tax-advantaged retirement account that’s backed by precious metals. These assets are stored in safe and secure facilities. Gold and other precious metal IRAs offer the same tax-deferred status as other self-directed IRAs. However, you’ll see that the positive Augusta Gold IRA ratings stand out against the rest because of its team of highly trained professionals who can effectively help customers with a high level of knowledge and experience.
Augusta Precious Metals Gold IRA Storage
Augusta ships precious metals not held within an IRA to your home or post office box. The company has never lost a precious metals package in transit and strives to guarantee the safety of this gold and silver. This is done by housing these precious metals in seven separate storage units across Canada and the US. These well-known precious metals storage facilities are located in the following areas:
- Springfield Gardens
- Salt Lake City
- Los Angeles
Augusta Precious Metals Costs
Numerous factors lead to the fluctuation of prices for silver and gold. That’s why it’s vital to reach out to Augusta Precious Metals to identify the investment costs you’re occurring. Additionally, you’re required to invest no less than $5,000 to start buying gold or silver. There is no maximum investment in the company. You may decide to purchase gold and silver outside of an IRA investment account. If this is the case, you can make the respective payments for these precious metals through the following methods:
- Credit cards
- Wire transfer
When it comes to using credit cards with Augusta Precious Metals, the maximum amount of money you can spend is $5,000 for each transaction. Customers are expected to pay two annual fees. These are a $100 storage fee and an $80 custodian maintenance fee.
It’s highly recommended that you understand what fees you need to pay before you sign anything. This helps you identify if there are any hidden fees. Luckily, we have noticed that Augusta Precious Metals doesn’t conduct business like this. Nonetheless, it’s crucial to know because we have heard many stories of individuals being scammed because of undisclosed fees. Moreover, you should always look to conduct work with a company that offers 100 percent transparency, which is why Augusta Precious Metals is a good option.
What Are the Advantages of Augusta Precious Metals?
Augusta sets itself apart from other businesses by offering precious metals customers unmatched service. Its IRA processing department, economic analytics team, storage facility, and lifetime customer support team are equipped with superior knowledge and expertise when investing in gold or silver IRA accounts. Augusta Precious Metals gold IRAs are known to receive 5 stars from customers because of the exceptional experience investors receive when partaking in the various offers available. Here are some of the benefits you can expect to receive when working with Augusta’s IRA Augusta Precious Metals:
Augusta Precious Metals makes it incredibly easy to purchase precious metals as a cash account or IRA. This is done through straightforward and streamlined gold IRA processing while a personal agent is assigned to each customer for added convenience. The IRA processing team does 95 percent of the legwork for you when setting up this precious metals IRA account. Additionally, Augusta re-selects these precious metals products at extremely competitive pricing.
Augusta is known for being very forthcoming with the information regarding the company and its precious metals IRA. When choosing Augusta, you gain access to all the information you need on their robust website. Additionally, this company doesn’t charge any hidden fees. You gain lifetime customer support while the precious metals storage fee is laid out to you before signing any paperwork. Augusta does this to ensure you’re aware of the total cost of investing in these silver and gold IRA accounts before you begin the purchase process. Additionally, the company constantly updates your transaction status and is available whenever you need to have questions that need to be answered.
Knowledge and Expertise
The agents working at Augusta are equipped with the expertise and knowledge you require to help you build a precious metals portfolio that best fits your personal goals. The company employs an effective analytics team that’s lead by a Harvard-educated expert. This assistance is available to customers when purchasing gold and remains through the life of their physical gold and silver portfolios. This Augusta Precious Metals company has earned high customer loyalty and repay business because of the exceptional service offered to clients while upholding integrity and transparency.
Who Can Benefit from Augusta?
Augusta is a gold IRA company that’s equipped to help any customer wanting to use physical gold and silver in their portfolio. Such an addition is well-liked for its added protection and enhanced savings. However, this gold IRA company can best help those who already have a considerable sum of money in an existing account, like a 401 (k) or IRA.
Augusta works as an excellent silver and gold IRA company for those who are hesitant about working with precious metal investment institutions. This is because Augusta Precious Metals reviews have shown the company is equipped with a robust reputation for integrity and transparency.
This gold-silver company is an excellent option for potential customers who need robust information before deciding to fund a gold-silver IRA. This is because Augusta Precious Metals storage and purchasing facilities offer a wide array of educational materials. These potential customers can study such data before making a purchase of bullion coins for their IRA gold account.
Even though this IRA gold company doesn’t advertise offering financial advice, it’s helpful that this business studies the past performance of precious metals options and presents the most popular physical gold and silver Augusta precious metals offers for customers to choose from. This saves consumers a massive amount of time while also helping sort out the best options.
Pros & Cons of Augusta
It’s always recommended and wise to compare the positives against the negatives to ensure you gain a better overall view of anything. That’s why we have made a list of the advantages and disadvantages you can expect to receive when choosing Augusta. Here’s what you need to know:
You need to consider that a precious metal IRA is a tax-advantaged Individual Retirement Account invested in precious metals. The advantage of a precious metal IRA over other types of investments is that despite price fluctuations, these are always worth something. In contrast, paper stocks can go down to zero, and bonds can default, which can’t be said for precious metals. Augusta Precious Metals works as a family-owned company that sells precious metals and provides investors with gold IRAs, also called precious metal IRAs. When using Augusta to invest in gold coins or silver bullion, the company can offer you some exceptional benefits, such as:
- Easy-to-open gold IRA account.
- Exceptional customer service
- Flawless ratings from many third-party consumer protection platforms.
- Safe storage facilities at decent storage fees.
- Free shipping and transit that’s secure and convenient.
- Bonuses available in the form of additional gold/silver for any qualifying purchases.
Although you can expect exceptional benefits when working with Augusta Precious Metals, there are cons associated with these investments, like:
- The large sums of money needed (minimum $5,000) to purchase premium coins and gold IRAs can push customers away.
- Augusta Precious Metals storage and purchasing only include silver and gold. You can’t invest in palladium or platinum when using Augusta.
Should You Use Augusta Precious Metals When Investing in Gold and Silver?
Because silver and gold aren’t affected by inflation, adding these assets to your portfolio can be an exceptional advantage. Rolling some of your retirement savings to precious metals is an excellent way to eliminate low-interest rates and inflation.
However, the problem with most gold IRA companies is that these businesses aren’t transparent. In some instances, you can end up paying hefty fees after your initial purchase. Nonetheless, this doesn’t happen when you’re working with Augusta.
With this business, what you see is what you pay. From this, the business receives 5 stars from the Better Business Bureau, many customer reviews, and Business Consumer Alliance. Your investments are securely protected in a Delaware Depository or another safe storage facility while you only pay low storage fees for these services. You also have the option of these fees being paid for a lifetime.
You’re guaranteed personal ethics and transparency when using Augusta. These are the two crucial virtues that make this business so successful. The only problem is the high investment minimum, but this shouldn’t be a problem for those who already have existing retirement funds.
Gold IRA Companies
An Introduction to Gold or Silver IRA
If you are searching for a diversified retirement portfolio and prefer something other than the usual individual retirement account (IRA) that involves the purchase of stocks and bonds, then investing in precious metals may be your best bet. To better understand the difference between regular IRAs and precious metal IRAs, we must first what inflation is and how it affects an IRA.
Inflation may be defined as a gradual rise in the price level of an economy, resulting in currency losing some of its value, or being able to purchase fewer goods or services. Likewise, when investing in a regular IRA, the investment is subject to inflation and can lose its value over time. The monetary value may increase, but the value of that money decreases because inflation has increased. The value of stock assets is also based on the performance of the stock market.
However, with a precious metals IRA, such as a gold IRA, this is an asset that increases in value over time rather than decreasing. It is not affected by inflation. This makes investing in precious metals a wise decision to ensure that your retirement is secure.
While gold or silver IRAs sound like the perfect way to invest, they are not the investment method of choice because large sums of money are usually required to get started, and finding a depository to store and account for precious metals may be tiresome.
Another great thing about investing in precious metals is that the returns are not taxed like regular IRAs.
Noble Gold is easily one of the best companies to choose for a precious metals investment and the like because of the customer-based service that is so rare in the precious metals industry. So, what exactly is Noble Gold, and should you consider an IRA with Noble Gold?
Who is Noble Gold?
Noble Gold is a precious metals or gold individual retirement account firm based in California. The founders, Charles Thorngren and Collin Plume are experts in the field and have more than 25 years of experience in the precious metals industry; building the company with the vision of a precious metals IRA firm that is more accessible and operates with transparency and integrity.
Noble Gold strives to inform potential investors of the right investment and helps us to understand what the right investment is and why. The goal has never been to pressure clients into investing, but to educate them enough to allow them to make the right decision to rightly secure their financial future.
What Services Does Noble Gold Offer?
The company gives its investors the opportunity for a noblegold investment, namely, gold, silver, platinum, and palladium in the form of bullion coins and bars. You can invest in gold IRAs, silver IRAs, or purchase precious metals outright.
Noble Gold offers its users three different ways to invest, namely through precious metals IRA or the royal survival pack.
Noble Gold IRA
A gold IRA involves an investment, such as stock or bond investments, but instead of stocks or bonds, we are investing in gold in the form of coins or bars. Once the gold investment is made, the metal is stored in a depository in Texas.
Like a gold investment, Noble Gold also offers silver IRAs, which allow you to invest in silver in the form of bullion coins or bars. Similarly, once the investment is made, Noble Gold stores the metal in a depository in Texas.
Royal Survival Packs
Royal survival packs allow us to purchase an assortment of metals outright. These assortments range in price from 5000 to 500 000 USD and are yours to store independently. You can opt to have the precious metals delivered securely and efficiently to your home, or can collect them yourself. Royal survival packs make for excellent financial security because they can be redeemed at any time for cash.
The Pros and Cons of Investing with Noble Gold
To gain a realistic understanding of gold and silver IRAs, we must first evaluate the pros and cons associated with Noble Gold.
• Noble Gold offers easy access to its fee structure, with fees posted on its website. This lends to its transparency.
• It offers investors a quibble buyback program that gives peace of mind, knowing that should the need arise, Noble Gold buys back the precious metals.
• With Noble Gold, we have access to a wide selection of precious metals and a range of collector’s coins.
• You can set up your account swiftly and easily, with fast shipping for royal survival packs.
• Financial advisors are available around the clock to help guide you through the rollout process.
• Upon request, Noble Gold provides you with pictures of the precious metals.
• If you are not investment savvy, you are taken care of with Noble Gold’s dedication to educating potential investors as opposed to just pressurizing you to invest.
• They have a competitive fee structure and a low minimum investment amount, which is far below other companies in the industry.
• Unlike other organizations involved in precious metals investment, Noble Gold has only been around for four years. Even so, the founders have over 25 years of experience, so are not new to the realm of precious metal IRAs.
• Noble Gold only offers national storage and does not have global gold storage facilities like other IRA companies.
• Like all other kinds of investments, gold investments do come with a certain degree of risk. This is because the price of gold can lose its stability and become volatile due to changing economic circumstances. The reassuring thought though is that gold is never valued at zero. It is always be found in smaller quantities and requires tremendous energy to extract.
Therefore, it is advisable to have a varied retirement portfolio that includes both paper assets and precious metal investments because should one do badly, the other should do well because of the inverse relationship. So, you should not feel the effects should any one of them plummet.
Despite the risks associated with investing in precious metals with Noble Gold, the pros far outweigh the cons. Since the company has only been around for four years, there is lots of room for growth. Talk to a Noble Gold advisor about setting up a gold, silver, platinum, or palladium investment today to strengthen your retirement portfolio with a company that is genuinely concerned about meeting your financial needs.
What Precious Metals Can Be Bought with Noble Gold?
With Noble Gold, you purchase gold, silver, palladium, and platinum in the form of bullion, which is purified metal that is used to make coins, metal bars, and collectors’ coins. With Noble Gold, there is peace of mind with its buyback program. Should you encounter any financial issues, you always have the assurance that Noble Gold buys the metals back, no questions asked, should the need arise. Let us take a look at some of the coins and bars that Noble Gold offers. Please note that these are just a few examples and not a full list of coins and bars offered by Noble Gold.
- American Eagle Gold Coins
- Austrian Philharmonic Gold Coins
- Australian Kangaroo Gold Coins
- Perth Mint Gold Bars
- Gold American Eagle
- America the Beautiful Silver Coins
- Canadian Silver Maple Leaf Coin
- Australian Silver Kangaroo Coin
- 1 Kilogram Australian Silver Coin
- Highland Mint Silver Round Bullion
- Republican Metals Silver Bars
- American Silver Eagle Coins
Platinum and Palladium Coins
- American Platinum Eagle Coin
- Baird & Co Platinum Bar
- American Platinum or Palladium Eagle Coins
- Baird & Co Platinum or Palladium Bars
Rare or Collectible Coins
- 4 Piece Indian St Gauden Collectible Coins from the years 1928, 1909, 1932, and 1927
- 1854 Kellogg $20 Rare Coin
Noble Gold’s IRA Policies and Fees
Noble Gold offers a competitive fee structure that is in line with and often supersedes the industry standard. The fee structure is as follows:
• The yearly account fee is 80 dollars.
• The storage fee is 150 dollars a year, and this includes insurance. One of the great things about Noble Gold is that they waiver this fee for the first year, regardless of the amount invested. Precious metals are also stored separately from those of other investors.
• Custodian costs (which are essential for gold and silver IRAs) are also payable and differ according to the amount you have invested.
Noble Gold Investments vs. the Competition
It is no secret that Noble Gold provides some of the best rates in the industry, saving the investor thousands of dollars. How does Noble Gold fair against its competition? Let’s take a look.
1. Annual fees
Noble Gold’s annual fees are on par with that of its competitors. Unlike other companies like Advantage Gold who require a minimum deposit of 50 0000 dollars to waiver the storage fee for the first year, Noble Gold gives its investors free storage for the first year, regardless of the amount have invested.
Noble Gold Investments has the easiest rollover process in the industry. It takes less than 10 minutes to get started, and the process is entirely online. Other companies require the completion of pdf forms and/or telephonic confirmation of personal details.
3. Minimum Investment Amount
Goldco and Advantage Gold require a minimum deposit of 25 000 dollars, while Regal Assets requires a minimum deposit of 5 000 dollars. Noble Gold only requires a minimum deposit of 2000 dollars to get started in the realm of silver and gold IRA investments, making them the best choice for IRAs.
4. Customer Service
Noble Gold Investments is on par with industry standards concerning customer service. It provides informative guides that help you understand gold IRAs and gives you an overview of the rollout process. Noble Gold Investments aims to ensure that its potential investors know and understand the best possible ways to protect their assets and secure their future through investments and purchases of precious metals.
More reasons to choose Noble Gold Investments for a retirement fund:
• Noble Gold has set up the first and only Texas storage facility.
• Unlike other companies, they offer royal survival packs that give you a financial cushion to fall back on.
• There is a buyback program, and buy back the precious metals should you need to sell.
• They provide informative guides and customer support that are available around the clock to help guide you through the rollout process.
• You can still invest in this precious commodity even if you do not have funds of more than 5 000 dollars.
• No sneaky sales tactics used to get business.
It is certain that Noble Gold Investments far exceeds industry standards without requiring large investment amounts.
How to Get Started Investing with Noble Gold Investments
As mentioned previously, Noble Gold’s rollout process takes under 10 minutes to complete and requires only an internet connection. Follow these simple steps to begin investing with Noble Gold Investments.
1. Go to Noble Gold Investment’s website (https://www.otisgold.com/go/noble-gold).
2. Scroll to the bottom of the home page and click on “Open an Account.”
3. Follow the prompts to enter your personal and contact information.
4. Select the investment account preferences and details such as the rollover amount, account type, and custodian information.
5. Enter the beneficiary information.
It is as simple as that! With Noble Gold Investments, the account setup is simple; once you have completed this online registration, a Noble Gold Investments representative contacts you to help you through the entire process.
Silver: A Better Investment than Gold?
Precious metals get their name because they are rare and involve a lot of effort to mine. While physical gold and silver are two of the rarest metals and require a great deal of energy to mine, the truth is that silver is used at a faster rate than gold.
Gold IRA seems to get all the attention when it comes to precious metals investments. So it may come as a surprise to many that investing in silver may be a better option for everyday investors, despite its wavering popularity in comparison to a gold IRA.
Silver has a lot more applications than gold, and the uncertainty in future gold supplies makes silver even more popular in commercial use. Therefore, it may be wiser to invest in a silver IRA in addition to or instead of a gold IRA.
Whether you choose to invest in a gold IRA or silver IRA, the best part is that Noble Gold Investments has the best noble gold IRA and silver IRA options. Investing in precious metals certainly is a better investment option than stocks, bonds, and other paper assets.
How Good are Noble Gold Reviews?
Noble gold reviews receive an average of 4,95-to-five-star ratings. A 5-star rating from customer reviews is exceptional in the precious metal industry and extremely rare. The reason for this is their excellent customer service and minimum requirements for a precious metals IRA. They are not just transparent but are helpful towards potential clients too and do not believe in high-pressure sales. Noble gold review statistics prove that Noble Gold Investments is one of the best in the industry.
A Final Word
Setting up retirement accounts does not need to be a daunting process. A precious metals investment is the ideal way to secure a financial future. Open an account with Noble Gold Investments and gain access to the world of precious metal investments to ensure that your retirement fund is not diminished by inflation and taxed before you receive a payout.
With low annual fees and a minimum investment value of 2 000 dollars, Noble Gold is the answer you have been looking for to create a secure portfolio. Charles Thorngren, the Chief Executive Officer of Noble Gold Investments, and Collin Plume, the president of Noble Gold Investments, believe in transparency and honesty when dealing with clients and they strive to provide investors with the best advice and free gold guides that provide enough education for potential investors to make the best decisions to suit their needs. Invest in precious metals today to ensure you can retire with peace of mind.
Gold IRA Companies
Gold IRA Companies
Intelligent investors and bright consumers look to buy gold coins that possess value, beauty, and rarity as often as possible. They want gorgeous coins that not only have the ability to maintain their value, but they can also accrue even more value for their gold content and rarity factor.
Guess what? This is the reason why so many consumers collect and have fallen in love with Five Dollar Liberty Gold Coins. But, it’s definitely only one of the reasons why this is such a valuable investment.
As you can imagine, the rarity factor certainly goes a long way when choosing a Liberty Gold Coin for your coin collection. Did you know that certain coins in this series are worth $10,000 or more? I’ll tell you all about the rarity factor and other reasons why this is such a predominantly amazing investment.
And even more important, you’ll have to learn the other reasons why this collectible is so potently powerful and worth your money and attention. Consumers would not flock to collect the Five Dollar Liberty Gold Coin unless there was a reason. As you can imagine, there is more than one reason and I’m going to share them with you below.
Reason #1: The “No Motto” Liberty Gold Coin Is Enormously Rare
Rarity is the name of the game when buying gold coins, and this certainly holds true when purchasing a Five Dollar Liberty Gold Coin. Believe it or not, before the Civil War, they actually used to mint these gold coins without the motto “In God We Trust” on the back, or the reverse side of the coin. If you have one of these gold collectibles in your possession, and you’ve kept it in mint condition, you could have a potential $10,000 coin on your hands.
How amazing is that? It wasn’t until 1866 that they decided to add the inscription to all of the Five Dollar Liberty Gold Coins. But prior to that, we believe that there were roughly 19,000 of these coins minted without the motto. And as you can imagine, this makes these coins incredibly rare. And the better the condition they are in, the more they are worth.
Why is this important for investors? First of all, you need to look through your coin collection to see if you have any of these Liberty Gold Coins without the motto on the back. If you do, you may have found a potential windfall, depending on the year that it was minted, the condition of the coin, and other factors. You should talk to a gold broker to find out what this coin is worth if you have one in your possession.
Also, I do not want investors to miss out on a wonderful opportunity. You may want to purchase one or more “No Motto” $5 Liberty Gold Coins for your collection, because it’s definitely going to continue to accrue massive value over the years. So, it’s a worthwhile investment no matter what way you look at it.
Reason #2: You Can Find Five Dollar Liberty Gold Coins for Cheaper Prices If You’re Willing to Do the Work
Even though the particular coin we talked about above is extremely rare, that’s only one of many different types of Liberty Gold Coins to consider. There are some that are not nearly as rare yet still maintain a lot of value even though they have the In God We Trust motto on the back of the coin.
How much will you have to pay? That’s always going to vary depending on the year of the coin and other factors like the rarity, condition, and more. But if you’re willing to shop around, you could find one for as little as $300 or less if you’re diligent enough.
What does this mean? It means that you have to be willing to shop around to find the best deal. You never know when a great deal is going to pop up.
You may find a desperate collector on eBay willing to sell one for practically nothing. Or you might find someone that doesn’t know much about these gold coins on Craigslist who’s willing to give it away for a steal. Or you should check with different dealers to see if they have any rare yet affordable Five Dollar Liberty Gold Coins that they’re willing to sell inexpensively.
Reason #3: The Five Dollar Liberty Gold Coin Has an Incredibly Bright Future Ahead of It
How do I truly know that the future is bright for Five Dollar Liberty Gold Coins? Believe it or not, there are actually three very important reasons. They are:
- This coin is very rare which makes it valuable
- The value of an ounce of gold continues to rise
- It has a beautiful appearance
So, when you keep both of these factors in mind, it’s very obvious that the Five Dollar Liberty Gold Coin will not only maintain its value, but it will also accrue more value as the years pass.
And it shouldn’t surprise anyone to learn this. The cost of gold in early 2020 was about $1200 an ounce. The price of gold halfway through 2021 is about $1900 an ounce. That’s a big difference and it definitely makes your Five Dollar Liberty Gold Coins a lot more valuable.
Lastly, I also wanted to mention the appearance of the Five Dollar Liberty Gold Coin because it really is a beautiful sight to behold. When you look at the picture on the front, you’ll see Lady Liberty staring back at you as she strikes a majestic profile. And even more amazing, on the reverse side there’s a picture of an American Eagle resting on an olive branch and holding a shield. This design is amazing and so many investors and collectors absolutely adore it.
If you are into precious metals investments, you need to have a look at the 401k to Gold Rollover Guide. It’s a way you can invest in precious metals for your retirement that many people are using as a way to caution against inflation.
We’ve come to the end and you understand why consumers are clamoring to collect Five Dollar Liberty Gold Coins. Not only are they rarer, they are also beautiful, they have a great future ahead of them, and you can find them very cheaply if you’re willing to do the work to get a good deal. Begin investing in these Liberty Gold Coins right away if you’re looking for an excellent investment.
Find out all about 401 k to gold ira rollover in this informative guide.
If lately, youíve been contemplating turning a part of your 401k into bullion coins and bullion bars, your on the right track. The truth is there are countless benefits that you get with the process known as 401k to Gold IRA rollover.
By diverting a fraction of your retirement account away from standard assets bound to the dollar, like stocks and bonds, your protecting your wealth against economic turmoil and currency debasement.
This is true of any precious metal. However, itís particularly true of gold.
Gold has been a safe haven for investors throughout history. People have always kept physical gold as the ultimate preserver of wealth. Amid a crumbling economy and uncertain political climate, gold not only survives – it thrives.
As one of the rare assets that act as a hedge against both inflation and deflation, possessing gold is a blessing in any crisis. Unlike any paper currency, gold has maintained its value through thick and thin, which is why investors and 401 k owners are rushing to get their hands on it.
If you want to find out:
- how to buy physical gold with 401k
- how to move 401k without penalty
- what is a gold IRA account
- all about IRA rollover to gold
keep on reading!
How Does A Gold IRA Work
A gold IRA functions identically to a regular IRA, with one difference: the gold IRA allows the account owner to hold precious metals – gold, silver, platinum, or palladium.
If your 401k retirement plan does not offer free access to the gold and silver investing you need, you can opt out of the 401k into a self-directed investment retirement account – IRA. A gold IRA is a special type of investment retirement account that allows individuals to add gold or silver in the form of bullion coins and bars to their tax-sheltered retirement accounts.
In many ways, a self-directed IRA is similar to a regular IRA. However, the main difference has to do with restrictions on investments.
With a self-directed IRA, your in total control of the investments you want to put into your account. You donít get the same level of freedom with a regular IRA as the custodian may impose restrictions on the type of investments youíre allowed to hold.
In a nutshell, with a self-directed IRA, your free to invest as you please, as long as you follow the IRS regulations, of course.
The IRS allows precious metals such as gold and silver bullion to be held as a part of a retirement account, otherwise known as a precious metals IRA.
One more thing to know about the self-directed IRA is that you can set it up as Roth or Traditional.
It doesn’t come as a surprise that precious metals IRAs are popular now more than ever. They have become significantly more popular since the 2008 financial crisis and the resulting Great Recession.
Gold IRAs appeal to investors who are looking to diversify their investment portfolios. Since gold prices move in the opposite direction of paper holdings, adding a gold IRA to a portfolio provides a sort of insurance policy against inflation. The consensus is that precious metals IRAs smooth out the risk of holding solely paper assets. This is especially true in the long run.
If you decide to buy precious metals and invest them in your individual retirement account, there are a few things you need to know.
First and foremost – a trusted IRA custodian is worth its weight in gold. Many companies offer the 401 k rollover service, but before you opt for one, make sure to do the groundwork, compare the prices, client reviews, etc.
Secondly, you ought to know which gold bullion qualifies to be a part of a gold IRA. For precious metals to be eligible for retirement accounts, they must be produced by a recognized national mint or they have to be manufactured by refiners that either have ISO 9001:2008 certification or are named on an industry-standard list.
In addition to this, the physical gold and silver you put in your IRA have to be stored in a depository approved by the IRS. What this basically means is no stashing the gold at home, in safety deposit boxes, and similar.
Furthermore, be aware that you will probably need to pay fees for the storage. For instance, some companies charge hefty fees each time you add, withdraw, or sell your precious metals from the storage. Whatís more, some additional fees may apply too, like insurance, shipping, or handling fees.
Last but not least, itís important to know that all the rules about IRA contributions, disbursements, and taxes apply.
The main takeaways about precious metals IRA you should keep in mind are:
- Itís a self-directed individual retirement account – IRA
- It comes with higher fees than a traditional or Roth IRA
Transferring Funds From 401k To Precious Metals IRA
One of the crucial questions that need answering is what ís a 401 k rollover and how itís done. In simple terms, a 401 k rollover is when you direct the money transfer in your retirement account to a new retirement plan or an IRA (in this case, a gold IRA).
By rule, the IRS gives you 60 days to complete the rollover. More precisely, the IRS allows one tax-free rollover of IRA funds per year, and that rollover must happen within 60 days of removing the funds from your current account to avoid penalties.
What happens if you don’t complete the transaction within 60 days?
The money will become a taxable withdrawal and you will need to pay the 10% early withdrawal penalty if you are under 59 Ω.
Since gold and silver as physical assets can be added only to a self-directed IRA, you will need to do the 401 k to gold IRA rollover.
You should know that 401ks have slightly different rules for gold IRA rollovers. The rules also depend on whether you have a 401 k from a previous employer or a current employer. If itís from a past employer, you should be able to do a 401 k to gold IRA rollover with a new custodian of your choosing.
On the other hand, if you have a 401 k through your current employer, check with them before you get into a gold IRA rollover.
There is one decision you’ll have to make when rolling over the 401 k to IRA: Traditional IRA or Roth IRA?
The main advantage of a traditional IRA is that your investment is tax-deductible now up to a certain amount. You deposit pre-tax money into your IRA and that amount is subtracted from your taxable income. However, you must pay taxes on the money (and its earnings) later when you withdraw the funds.
Speaking of, according to the traditional retirement plan, your required to start withdrawing the funds at age 72 by a rule known as taking a required minimum distribution.
When you go with Roth IRA rollover, you have to treat the entire account as taxable income immediately. If you maintain the Roth IRA for a minimum of five years, your after-tax contribution and earnings on them are tax-free. Furthermore, Roth IRA doesn’t feature lifetime distribution requirements.
If you are wondering which one to go with and whether it will trigger any taxes, the general rule is to roll over between retirement accounts that are taxed in a similar way: Traditional 401 k to Traditional IRA, and Roth 401 k to Roth IRA.
Technically, you can do a Traditional 401 k to a Roth IRA rollover, but it ís a more intricate process.
One of the most important, if not the most important things is to ensure that you choose a certified and trustworthy company to handle your gold investments and retirement savings. Once you find a reputable gold IRA custodian, you can rest assured they will help you with the rollover.
A reliable IRA custodian should provide all the necessary paperwork and other information that you need to arrange and complete an IRA rollover. Don’t forget there might be fees associated with the rollover, depending on the IRA custodians rules, so make sure to gather all the details beforehand.
Once you’re able to purchase gold and other precious metals with your IRA account, keep a few things in mind.
Firstly, know that the IRS has strict rules about the physical gold that can be allocated in your IRA account.
The coins and bars you choose need to be pure 24K gold. The exception to the rule is the American Gold Eagle, which is a 22K coin but it is recognized as the official bullion coin of the United States, and therefore allowed to be included in a gold IRA.
Besides gold, Internal Revenue Service (IRS) allows you to add silver, palladium, and platinum coins and bars to your IRA account.
Your options include some of the most prominent and sought-after coins worldwide, like the American Eagle, American Buffalo, Canadian Maple Leaf, Austrian Philharmonic, Britannia, and many others.
National mints around the world manufacture most of the IRA-eligible gold coins and bars. The most famous mints include the United States Mint, Royal Canadian Mint, Perth Mint, Royal Mint, etc.
When you purchase the bullion, your IRA custodian will ship it to a proper IRS-approved depository, and you have to pay certain fees. Its best to discuss all applicable (current and future) fees with your IRA custodian prior to the purchase to avoid surprises.
The main takeaways about the rollover process:
- Pick a trusted self-directed IRA custodian.
- Roll over the eligible funds within 60 days to avoid penalty.
401 k To Gold IRA Rollover – Advantages and Disadvantages
One thing is for sure – converting a part of your retirement savings to physical gold has its advantages:
To understand why gold is so important for today’s economy it’s enough to look at its history. Throughout centuries, gold has successfully preserved wealth. The same cannot be said for paper-denominated currencies, which is why many investors rush to purchase gold and add it to their retirement portfolios.
- It thrives during the political and economic turmoil.
Gold has not only survived many calamities, but it actually rose to the top while other assets plummeted. It’s safe to say that gold is one of the most certain holdings you want to own during a crisis.
- It acts as a hedge against inflation and deflation.
One unique thing about gold is that it is unbothered by both inflation and deflation. Historically, gold has served many a time as a hedge against both those scenarios. When investors realize their money is losing value, they turn to hard assets that have always maintained their value, like gold. Furthermore, gold also benefits from a declining US dollar as it is priced in USD globally.
- It balances out the paper assets in your account/portfolio.
Holding only paper assets like stocks and bonds in your retirement portfolio poses a certain risk. As mentioned earlier, gold has proven to be a valuable tangible asset almost always, no matter the political or economic climate, which is not true of paper holdings.
When you convert a portion of your holdings to gold, you ensure a better balance between the two.
- Gold prices are steady in the long run.
Although gold prices on the stock market fluctuate on a daily basis, they’re quite steady in the long run.
Are there any downsides, though?
Well, of course. The main downsides or rolling over your 401 k to gold IRA are:
401ks are protected by federal law from all types of credit judgments (besides IRS tax liens) including bankruptcy, while IRAs are protected by state law, whose shielding power varies.
- Early retirement benefits
With an IRA account, you will face a penalty of 10% for early withdrawal if youíre under 59 Ω, whereas with a 401 k, you can access your funds as early as age 55.
Company 401ks have access to a special type of fund – stable value fund, which is not available in the individual market and typically offers better interest rates compared to money market funds.
401 ks can purchase funds at institutional pricing rates, which is not (usually) true of IRAs.
These are some of the biggest upsides and shortcomings of a 401 k to gold IRA rollover. Cogitate about each of them carefully and investigate further with a professional if you have any specific concerns.
All things considered, when weighed out, you can get far more benefits than disadvantages when you roll over 401 k to gold IRA.
401k To Gold IRA Rollover – Final Word
Ask any investor and they’ll tell you that investing in gold is always a smart idea. Gold is an asset that has a sort of value you cannot get from many other investments. Not only is it a profitable investment, but it also carries a minimal financial risk, and it’s a precious addition to any retirement portfolio.
In the past years, the popularity of gold IRAs has been on the rise, and for good reasons. Converting a part of your retirement savings into gold can be extremely beneficial.
Investors have been turning to gold for decades as it is a safe haven and a proven hedge against economic crises. Owning gold has always been worth a kings ransom and you definitely won’t make a mistake by turning a portion of your savings into a gold IRA.
However, the 401 k to gold IRA rollover is an intricate process and you need to get your facts straight before you dive into it. Hopefully, this 401k to gold IRA rollover guide has cleared things up, so you know how to go about it.
Find a reputable company like GoldCo that will guide you through the entire process and make sure everything is legal and legitimate. Pick the gold you want to include in your gold IRA account, but do it carefully, with all the things mentioned above in your mind.
Once you’re absolutely sure about the gold, it can be safely tucked away at an IRS-approved depository.
Word to the wise – make 100% sure that everything is done according to the IRS (Internal Revenue Service) regulations. Otherwise, you might face serious tax events that can be triggered by an audit and lose your savings in the blink of an eye.