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Gold Alliance is a gold and precious metals dealer that helps clients buy investment metals in tax-sheltered retirement account. A gold or precious metal Individual Retirement Account (IRA) is a long-term investment strategy. Gold Alliance can also help you purchase gold or other precious metals outside of a retirement account.
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Gold Alliance is a gold and precious metals dealer that helps clients buy investment metals in a tax-sheltered retirement account.
Founded in 2002, Gold Alliance specializes in gold and silver. The company works as an advisor to help clients decide which precious metals to invest in. Gold Alliance works with clients across the United States. Consumers turn to the company to customize and secure a gold IRA.
Gold IRAs are self-directed IRAs under specific guidelines that allow you to invest in physical gold bullion or bars instead of stocks or mutual funds.
Gold Alliance
Great Customer Service
Specializes in retirement accounts
Great buy-back options
American Hartford Gold
Great Ongoing Promotions
Lowest price guarantee and no buy-back fees
Up to $15,000 in FREE silver on qualified accounts
Patriot Gold Group
Great Personalized Service
Serving families and individual investors
High level of client education
Pros
Cons
As a precious metals dealer, Gold Alliance offers each precious metal approved by the IRS for use in gold IRAs. These metals include gold, silver, palladium and platinum in the form of bullion, coins and bars.
Gold Alliance charges an account fee to help clients set up a gold IRA, and then rolls over funds to the new account from savings or a 401(k). The client can buy precious metals once the IRA is funded. Gold Alliance then securely stores clients’ investment metals at the Delaware Depository in Wilmington, Delaware.
You can start a gold IRA with Gold Alliance in three steps:
Investment Goal | Best Choice | Recommended Investment |
---|---|---|
Insurance | A product that retains purchasing power | Silver & gold rounds American Eagles Canadian Maples |
Upside growth | A product with a history of fast base price increases | 1904 MS64 $20 Liberty gold piece |
Downside risk protection | A product with a history of base price stability | 1922 MS64 silver Peace Dollar |
Privacy | A product that is exempt from reporting requirements and extensive disclosure to government | Ask an account representative |
Once you’ve purchased your gold or precious metals, Gold Alliance will store them for free in an IRS-approved facility, the Delaware Depository in Wilmington, Delaware. (The IRS does not allow individuals to store gold when it’s part of an IRA.) You’ll receive quarterly reports on your precious metals portfolio’s value, and you can also check your account information online at any time. You can also purchase precious metals and have them shipped to your home or another designated storage facility.
Great Ongoing Promotions
American Hartford Gold
If you decide you want to sell your precious metal bars or coins, Gold Alliance guarantees to purchase them back. They will appraise them and guarantee that they will make an offer, and you can choose to accept or reject their offer. They will also appraise precious metals you have purchased elsewhere.
If you need to take a distribution from your account, you can choose to have physical metals shipped to you or you can liquidate and receive its value in check form. The IRS requires you to take a certain percentage gold IRA distribution once you reach age 70 1/2.
There are two costs to consider when opening a gold or precious metals IRA with Gold Alliance: the cost of the account and the cost of the metals you must purchase. The account itself costs $175 a year. This fee includes insurance, storage and quarterly financial statements and online access to your account. The fee is the same regardless of the value of your account year to year.
The cost of the metals will vary. Gold IRA companies generally make their profit by charging a higher price to procure gold, silver, platinum and palladium for clients than the current market value of those metals. Gold Alliance does not publish the prices of the metals it sells, but similar companies that publish a risk disclosure indicate that these metals are usually marked up 17% to 33%. There is no minimum investment, so you can purchase as little or as much as you can afford for your investment account, and add to it as you please. Beyond the account fee and cost of the metals, there are no hidden service, administration or investment fees.
Customer feedback is overwhelmingly positive for Gold Alliance. At the time of this review, Gold Alliance has a 4.96/5.00 rating on the BBB with 158 reviews. Any complaints raised on the BBB were resolved.
American Hartford Gold
Great Ongoing Promotions
Lowest price guarantee and no buy-back fees
Up to $15,000 in FREE silver on qualified accounts
Patriot Gold Group
Great Personalized Service
Serving families and individual investors
High level of client education
Goldco
Great Retailer
A+ rating from the Better Business Bureau
Over experience in Precious Metals IRAs
You can roll over a pension plan, 401(k), 457(b), 403(b), Thrift Savings account, or a Roth, SEP or SIMPLE IRA.
Coins must be IRS-approved to be eligible for inclusion in a precious metals IRA. The American Gold and Silver Eagle coins are eligible, as well as any gold coins that are 99.5% pure and accepted as legal tender. Silver coins must be 99.9% pure.
The IRS stipulates limits for annual contributions to an individual’s IRA accounts, and these limits change annually. For 2019, you can contribute a maximum combined total of $6,000 (or $7,000 if you are over 50) to all of your IRA accounts.
No, you must purchase gold or other precious metals through Gold Alliance.
An account representative will walk you through the process. Generally, they will recommend products based on your investment goals, such as growth, insurance, reducing risk or privacy.
If you are considering a gold IRA or simply want to purchase precious metals and store them yourself, Gold Alliance can help you. They offer free storage, low annual fees and a buy-back guarantee.