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The major problem new investors face as they begin their gold investment journey is knowing the best gold and silver companies to trust for their gold investments. Unlike other Patriot Gold Group reviews on the internet, Bear Lake Gold wants to clarify any questions that investors may have about this company through our Patriot Gold Review page.
This Patriot Gold Group review will give our readers all they need to know about this company to help them decide whether it will be best to do business with it or look for other gold investment companies to work with.
As a professional company that reviews gold organizations, Bear Lake Gold has, through the years, independently evaluated precious metal IRA (Individual Retirement Account) companies in the gold and silver market.
Bear Lake Gold provides accurate and reliable information about gold IRA companies in the United States and recommend the best for doing business. We ensure that we pass the details we find about them through our standard gold dealer review methodology.
At Bear Lake Gold, we get our information primarily from major stakeholders in the companies that we review. Hence, the information we will provide about Patriot Gold Group is based on our interrogative sessions with various stakeholders of the company, like its founder, Patriot Gold Group representatives, and customers who have done business with the company.
We go the extra mile to reach out to these people because their responses help us to form our unbiased opinions about the companies we review. In addition, these details help us to determine how ethical, moral, suitable, and professional these gold companies are for doing business in the United States.
The information we will give you in this Patriot Gold Group review will contain details about important aspects of the gold company. For example, its founder, management team, products, and services, cons, pros, and how customers have rated it on various consumer rating websites.
The primary reason for providing this information is to answer these three fundamental investors' questions.
The response we got from our interactions with the major players in Patriot Gold Group, including past and present customers, and various trusted third-party rating websites helped us to make these two major conclusions about the company.
We felt we could not rank this company among the first thirty gold IRA companies we had reviewed. To find out why we felt this read the full article.
➡➡➡ After conducting thousdans of hours of precious metal company reviews we came up with the top three companies we recomend.
➡➡➡➡➡ See who we chose and why we choose them for IRA Investment and Non IRA Investments
Many new investors ask the question “who is the best gold IRA companies to do business through in the United States”. It is a very important question because the company you open your gold IRA account with goes a long way to determining how successful you will be in the gold investment industry.
Bear Lake Gold understands the importance of this question. That is why we have taken our time to carefully handpick the top five companies in the industry that is best for your gold investing.
Based on our rigorous research and unbiased opinions, the top five companies in their ranking order are.
We ranked these companies as the best in the industry because we found amazing details about them that made them stand out. We have also compiled the details we found about these companies in five separate review documents. These documents will show you all you need to know about these companies and how to start investing in gold through any of them.
To access these documents for free, just click the relevant buttons below and input your details, and the documents will be yours in no time.
Patriot Gold Group is a precious metals dealer founded in 2016. The company is at 3010 Old Ranch Pkwy Suite 350, Seal Beach, CA 90740, United States. The firm is also a specialist in facilitating gold IRAs.
A gold IRA is a self directed IRA that allows employees to hold precious metals like gold, silver, platinum, and palladium bullion bars, coins, and rounds in their portfolios. The IRS requires that investors store their precious metal investments in an approved gold and silver depository for safekeeping. A precious metals IRA enables you to diversify your retirement portfolio effectively. Most importantly, precious metals will help you shield your retirement savings from harsh economic conditions and inflation effects.
According to one of the Patriot Gold representatives we spoke to, the company works with the industry's finest gold IRA custodians and depositories to offer seamless gold IRA account opening and storage of precious metals to its customers.
The Patriot Gold Group representative also informed Bear Lake Gold that customers could conclude their transactions via a phone call to the company. Customers do not need to contact gold IRA custodians to open their gold IRA accounts, as well as the broker, the depository, and the shipping companies separately. One call to Patriot Gold Group will cover all these processes as the company has partnered with other companies in the United States that can provide the services to its customers.
Furthermore, the agent told us that Patriot Gold Group would take care of all these processes and ensure that it completes all the steps correctly after the customer provides the company with the needed information.
As mentioned, the company facilitates the gold IRA account opening process and is also a gold broker. Here are the simple steps you need to take to do business with Patriot Gold Group.
Opening a gold IRA account with Patriot Gold is easy. You just need to call the company, and one of the company's representatives will walk you through the account opening process. You can also begin your registration by filling out the account opening form on the Patriot Gold Group website.
In addition, if you have an already existing self-directed individual retirement account, you can also tell the rep you are speaking with about your intention to transfer it to Patriot Gold. The rep will tell you what to do and help you.
Sign the Vital Papers
You can complete the signing of every necessary paper on the company's website. Patriot Gold Group will set up your account within two days once you complete the necessary documentation.
It is pertinent to note that funds transfer from your previous custodian might take time. This process depends on how fast the custodian moves your funds from your previous account to your new gold IRA account.
Start Investing in Your Preferred Precious Metals
Immediately after you finish opening and funding your account, you can start investing in your preferred precious metal assets by executing trade orders. However, before you begin trading, the company requires that you pay the one-time account setup fee. The payment ensures your account is properly set up for trading your precious metals investments.
Once you make the payments and ensure that you have completed the account setup process, you can start buying your preferred precious metal investments from the company. You can buy metals from Patriot Gold Group by ordering directly from its website or contacting them on the phone. One of the customers we spoke to told us that the company would not charge investors extra commissions when they buy metals from it.
The time window for concluding your purchases also depends on how fast your new custodian sends the funds for your newly purchased gold and silver investments. Typically, the entire trading process should not take more than 48hrs after your custodian pays for your precious metals using the money you transferred to your gold IRA account.
Once your custodian and Patriot Gold Group conclude the trade, the latter (gold broker) will ship your precious metals investment to your preferred gold storage facility for safekeeping. It will be there till you choose to withdraw them.
The precious metals broker sells various precious metals (IRA-eligible and non-IRA-eligible). The difference between IRA-eligible and non-IRA-eligible precious metals is their purity standards and fineness. According to the IRS, the only precious metals you can include in your retirement portfolio as IRA-eligible precious metals must meet the following minimum purity requirements.
You can buy precious metal bullion bars, coins, and rounds from the company within and outside an IRA with no extra commissions or hidden fees.
As we mentioned, Patriot Gold Group does not charge its customers extra fees and commissions for precious metals purchases. The company offers its customers direct pricing. However, you will not find the company's precious metal coins' prices on its website. You will first select the amount you want to spend on the coins you desire to buy to get a properly updated quote. You can also get the prices of coins by chatting with one of the company's sales representatives.
According to a customer representative, the company's precious metals IRA fees are based on tiers. For instance, the standard one-time payment fee for a gold IRA account set through Patriot Gold Group is $225. However, the company waives this setup fee for clients who buy precious metals worth more than $30,000.
Patriot Gold Group will also waive up to three years of storage fees and return the $260 rollover fees to customers who invest up to $30,000. Patriot Gold Group will waive all your fees if you invest at least $100,000 in your gold IRA. Finally, you will get an IRA account with no fees for life if you invest at least $250,000. It means the company will foot your shipping bill to your depository or home if you desire.
It is also pertinent to note that the custodian fees are separate from Patriot Gold Group product prices. Ensure you get full details of the custodians you want to work with and their fees before doing business with them. The truth is that you can decide to work with any custodian of your choice. Still, Patriot Gold Group partners with Equity Institutional and STRATA Trust Company to provide custodianship services for its customers.
Depending on the custodian you work with, you will pay custodial fees between $5 and $250 for services like taking IRA distributions, processing your documents, making wire transfers, and closing your account. However, the table below shows more details about Patriot Gold Group's IRA fees.
One ideal way to save for your retirement or diversify your retirement savings is through IRAs. However, many people do not know about precious metals IRAs yet. A gold or silver IRA allows you to deduct any contribution from your income to the account without tax filing. It means you will pay less taxes when investing in the account for years. Precious Metals IRAs work so well because they are designed to allow investors to pay low taxes on their investments in preparation for their retirement ages.
Patriot Gold Group can help you open your gold IRA account to help you start your precious metals investment journey. According to another representative we spoke to, opening your IRA account with Patriot Gold Group will open you up to all the benefits of an IRA.
As we mentioned in the previous section, the IRA account opening process of Patriot Gold Group is straight forward, and you can open your account and start your investment journey in three simple steps.
One reason you need to save money for retirement, especially through a gold IRA, is to give you access to emergency funds when you quit your job or retire.
Patriot Gold Group will open your IRA for you, help you roll over funds, or go through the funding process and sell quality IRA-eligible precious metals to you. The company also helps its customers by shipping the precious metals they bought to their desired storage facility for secure storage till they decide to withdraw.
You can buy precious metals investment products from Patriot Gold Group in the come of bullion bars, bullion coins, and rounds.
In the last section, we also mentioned that Patriot Gold Group works with two companies to provide customer custodianship services.
These custodians are two of the finest IRA custodians in the industry. Through the years, they have gathered reputations for offering reliable and secure custodial services. Opening your gold IRA account with these custodians will assure you that your gold investments are safe.
You can buy and sell precious metal products from and to Patriot Gold Group without opening a gold IRA account through them. You can buy gold and silver products from the company as coins and bars. As of the time of writing this article, the company sells only gold and silver products. The company sells gold and silver coins from countries worldwide, including South Africa, Austria, Canada, and the United States.
The company ensures you get only high-quality original coins examined by leading industry experts. In addition, Patriot Gold Group has a refund policy. You will get a refund from the company if you are not pleased with the products that you received after your purchase.
Some of the gold and silver products you will find on the company's website for sale include the following.
Patriot Gold Group sells gold bars to interested customers. However, the company's gold bars offer is limited. When writing this article, the only gold bar product available for sale on Patriot Gold Group's website is the Royal Canadian Mint's 10-ounce gold bar.
Precious Metals Storage
The IRS does not allow gold IRA investors to store their precious metal IRA investments in their homes. The IRS mandates storing all gold IRA assets in an approved third-party secure depository. You cannot store your gold IRA investments in your house or a personal safe box.
For this reason, Patriot Gold Group has partnered with storage companies that can offer precious metals storage to its IRA customers. They work with three companies, and customers can choose the storage companies that suit their investment needs and goals.
Choosing Patriot Gold Group means the company will help you set up your storage account with any of the above depositories you choose.
Patriot Gold Group will buy back any precious metal investment you buy from it whenever you are ready to liquidate your assets. It does not matter when you buy it; the company will buy it back if they are in good condition.
The rating was based on only 1 customer review
4.9 out of 5 stars
The rating was from 71 reviews
4.8 out of 5 stars
The rating was from 52 reviews
4.9 out of 5 stars
The rating was from 144 reviews
We have mentioned the promotions you will enjoy for investing in precious metals through Patriot Gold Group in this article's 'cost and fees' section. However, for emphasis, let us reiterate them.
We believe a better promotional deal is that offered by Goldco, where you could get up to $10,000 in free silver, click the banner below to find out more details.
To conclude this Patriot Gold Review, Bear Lake Gold will give its final verdict on this gold IRA company. From the details we got about the company, as we have written in this article, the company is a legitimate gold IRA company that has been doing business in the industry.
It offers fine gold IRA services to investors who want to diversify their retirement portfolios using precious metals investments. However, we could not rate the company among our first thirty gold IRA companies for the following reasons.
We believe that customer education should precede effective and informed customer investment decisions. Hence, we only recommend investing in gold and silver companies that emphasize customer education on gold and silver investment at Bear Lake Gold.
In addition, the danger of investing in a company with higher IRA fees is that you will spend more of your investment profits on other costs and fees. Such high expenses will potentially reduce your ROI (Returns on Investments) on your precious metal investments.
Hence, suppose you want to invest in a gold IRA through a company that will teach you how to make informed precious metals investment decisions and get the most out of your IRA. In that case, we would not recommend investing through Patriot Gold Group. Rather, we recommend investing through any of our top five Patriot Gold Group Alternatives.
To learn more about these alternative companies, please click the relevant links in the next section to download their investment guides.
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