Gold IRAs are rising in popularity again thanks to skyrocketing government deficits and currency concerns. Our Monetary Gold review explores if this A-rated company is a suitable destination for your besieged retirement portfolio.
Monetary Gold Review: Overview
Monetary Gold is a precious metals firm specializing in precious metals IRAs, most commonly referred to as Gold IRAs.
The company first opened its doors back in 2000, more than two decades ago, and it’s grown to become one of the top-rated providers of Gold-backed retirement accounts.
Precious metals are an extremely competitive industry, but Monetary Gold has the advantage of being a direct dealer.
What Sets Monetary Gold Apart from Other Gold IRA Companies
Many gold IRA companies only broker transactions between investors and dealers.
That usually means they pay more for their precious metals and, consequently, you pay more for your precious metals IRA.
Being a direct dealer helps Monetary Gold secure fantastic deals on precious metals, and they pass much of the savings along to their clients.
The company offers a wide variety of gold, silver, and platinum coins and bullion.
Monterey Gold also offers foreign coins, semi-numismatic coins, and much more.
Semi-numismatic coins are widely regarded as the best investment-grade precious metal asset, so their presence adds a lot of value to Monetary Gold’s precious metal IRAs.
If you’re interested in opening a Monetary gold IRA or precious metals IRA account, stay tuned because Monetary Gold has a lot to offer.
You can also download their free gold guide here if you’d rather get the details from the horse’s mouth.
What Is a Gold IRA?
A gold IRA combines traditional retirement account tax advantages with physical precious metals ownership.
These specialized tax vehicles make it easy to diversify your portfolio with actual gold and silver that belong to you.
With a gold IRA, you own actual precious metals that you can hold yourself or place in secure storage.
It’s totally different from owning a gold ETF or other representative asset vehicle.
You can own a variety of investment-grade assets with a Monetary Gold precious metals IRA.
The Case for a Monetary Gold IRA
Monetary Gold has a wide selection of metals available for direct investment at great prices.
Better yet, you can still play in the stock market too.
Your Monetary Gold IRA also holds stocks, bonds, and other IRA-approved assets, so you can keep all of your holdings under one roof.
Once you open your gold IRA account and buy precious metals, you can either receive them via fully insured at-home delivery or store them at the Lloyds Bank’s Delaware Depository.
Monetary Gold fees are relatively low, and the company has a team of gold IRA experts standing by to help you set up your new precious metal IRA.
A gold IRA can be an excellent addition to your retirement portfolio.
But, you might ask, “why not just buy a gold ETF or other gold-backed security?”
It’s a good question, but physical gold ownership offers many benefits that exchange-traded funds can’t match.
Gold ETF vs Physical Gold
Gold ETFs are one of the most popular options for retail investors looking to own gold.
These gold-backed securities are very liquid and easy to trade, but they have downsides.
Unfortunately, gold ETFs negate many of the benefits associated with direct gold ownership.
Most notably, these funds do not hedge against the volatility of the equity or the U.S. dollar.
As a result, currency shock could easily wipe out the fund.
Then, your so-called “safe harbor” investment could quickly turn into a money pit.
Worse yet, some funds are leveraged at absurd ratios that range as high as 100:1.
The gold ETF you rode to big gains in 2020 could be doomed in the event of a real crisis if it’s highly leveraged.
Also, your gold ETF shares aren’t redeemable for physical gold.
Plus, these funds are very secretive when it comes to their actual physical gold holdings.
Some only own gold futures — promises for future deliveries of gold — and they just roll over the expiring contracts to maintain their holdings.
The entire industry is very opaque, and auditing standards are notoriously lax.
Custodial fees can also be a concern, and they often go unnoticed because they’re factored into the fund’s share price.
Despite the lax regulations, these organizations must keep strict records for the SEC, and they also report to the IRS.
With such high reporting requirements, you can say goodbye to your privacy.
To date, more than 400 ETFs have gone under.
Although most of these assets are relatively safe, they likely couldn’t survive the shock of a full-blown currency crisis.
If you’re a trader looking to take advantage of a short-term move in gold prices, gold ETFs can work just fine.
However, they can’t protect your retirement savings from an economic catastrophe.
Physical Gold and Silver and Other Precious Metals
Owning gold gives you direct physical control of your retirement assets.
If you’re a particularly independent investor, you can even get gold and silver coins shipped directly to your house from a precious metals dealer.
Taking possession of your metals gives you direct control over your investments, and you can liquidate your assets as needed.
Most coins are considered non-reportable, so you don’t even have to tell the IRS.
With your gold and silver in hand, you won’t have to worry about losing access to your wealth if the stuff hits the fan.
Your wealth is stored outside of the global financial system, so it’s protected against fallout from a potential economic disaster.
More Benefits of Owning Physical Precious Metals
Owning physical metals also makes passing down your wealth much easier.
You can privately pass your precious metals down to your next of kin without cutting through a wall of red tape.
Precious metals also make excellent hedges against inflation and paper asset volatility.
Even if you’re not planning on going all-in on precious metals, they can be an effective rainy-day insurance policy in a worst-case scenario.
Storage options are also available for those who worry about protecting their assets, and the custodial fees are relatively low.
You don’t have to buy a safe or a security system to get started.
Owning metals helps you avoid fund management fees and provides a solid hedge against uncertainty.
It’s the superior option for committed gold bulls, but gold IRAs make the deal even sweeter.
Monetary Gold Review: Is Monetary Gold Legit?
Other gold IRA companies have questionable track records, but Monetary Gold is a 100% legitimate firm.
It enjoys high ratings from consumer advocacy groups and former clients alike.
The Better Business Bureau lists Monetary Gold as an accredited business and gives the company a prestigious A+ rating.
Monetary Gold also has a perfect record of five-star customer reviews on the BBB website.
A quick online search reveals a plethora of additional positive reviews for the website.
Many clients report being exceptionally pleased with their precious metals IRA accounts.
TrustLink also shows a collection of five-star Monetary Gold reviews from clients.
In fact, the company has a perfect record of five-star reviews on the platform.
With an impressive track record like that, it’s easy to see Monetary Gold isn’t a scam.
This is a reputable firm with excellent service and prices.
Who Owns Monetary Gold?
As a privately-held company, Monetary Gold doesn’t have to disclose its ownership publicly.
So it’s hard to pull up precise data on the corporation’s shareholders.
However, the company voluntarily lists some data online.
Here’s what we were able to dig up.
Monetary Gold is a U.S. corporation chartered in Westlake Village, California.
The company’s primary contact is listed as Ms. Andrea Powers, a principal partner at the company.
The company has 37 employees, according to its BBB profile, and keeps regular office hours during the week.
Monetary Gold’s office runs on a west coast schedule of 6 am to 4:30 pm, so the staff can take calls at convenient hours for their east coast customers.
We can’t tell you exactly who owns Monetary Gold because that information isn’t available publicly.
However, the company is a legit enterprise with a full staff and a U.S.-based home office.
Monetary Gold Review: Free Gold Guide
If you’re interested in a gold IRA, you can download a free investment guide on the Monetary Gold website.
It’s available for free for anyone interested with no strings attached.
The guide covers many of the most pressing questions investors have about gold IRAs.
It also guides you through the latest market conditions and lays out a compelling bull case for gold.
The price is right (it’s free), so there’s no reason not to check out.
Monetary Gold Review: Services and Features
Monetary Gold is all about gold IRAs, so we’re going to discuss these products at length.
However, this firm is no one-trick pony.
It offers a wide selection of precious metals and IRA services.
Let’s take a deep dive into Monetary Gold and see if it’s a compelling option for your investment portfolio.
Monetary Gold Review: What Does Monetary Gold Offer?
- Top-rate gold IRA staff
- Direct buyer
- Available home delivery with free shipping
- Secure storage at the Delaware Depository
- Certified-graded coins and bullion
- Free online workshops
- Precious metals IRA
Gold IRA Staff
Monetary Gold has a fully staffed IRA department that’s standing by to answer your questions and help you set up your new retirement account.
The team gets excellent reviews from clients on the various platforms we covered above.
The IRA staff is in the office on weekdays from 6 am to 4:30 pm from Monday through Thursday.
On Friday, the office closes at 2 pm.
It seems odd that this type of business would open so early in the morning, but it makes sense because the office is on the West Coast.
By opening early, they allow investors from across the country to call them during regular business hours.
These hours also closely align with the New York Stock Exchange, which is open for trading from 9:30 am to 4 pm in the Eastern time zone.
A highly rated staff and convenient office hours add up to a pleasurable service experience for most customers.
Also, Monetary Gold’s friendly staff is one of the company’s greatest assets.
Direct Buyer Pricing
Monetary Gold is a direct buyer of precious metals.
Eliminating the middleman allows the company to offer prices that you’d be hard-pressed to find at any other IRA custodian.
Cutting out middleman markups gives Monetary Gold a significant advantage over other options.
You could net considerable savings throughout the account’s lifetime with Monetary Gold’s low prices.
“We are one of the few prestigious precious metals firms in the nation that is a direct dealer making your acquisition through the source.”
— MonetaryGold.com, About Us
More on Precious Metals Purchases
You should always get your precious metals from as close to the original source as possible.
The more middlemen you have, the higher the prices go.
It all adds up to higher costs for you.
As a direct buyer, Monetary Gold is as close to the source as most everyday retail investors can get.
You’ll quickly find that it offers superior pricing to most competitors.
Here are some of the collectible coins (including foreign coins) that you can purchase through the company:
- American Gold Eagle
- Gold Austrian Philharmonic
- American Gold Buffalo
- Gold Canadian Maple Leaf
There are more coins available, and you can contact Monetary Gold today to see the whole list.
Some investors prefer to directly control their assets.
The sentiment is prevalent among people who are interested in gold IRAs.
Securely storing your own gold and silver has its challenges, and it’s not cheap.
Many sites sell gold and silver, but Monetary Gold allows you to combine physical metal ownership with the tax advantages offered by IRAs.
However, if you want your gold delivered to you, your account will be a private storage IRA.
Private storage IRAs have additional conditions you should consider before deciding whether this approach is feasible for you.
Physical ownership gives you complete control over your precious metals without the broker, government, or anyone else in between you and your hard-earned money.
All deliveries require signatures and are fully insured.
Private delivery is available for a flat rate of $30.
It could be an excellent option for independent investors concerned about government overreach.
Monetary Gold Online Workshops
Every month, Monetary Gold hosts free workshops for its investors and anyone else who wants to attend.
These informational sessions usually cover topics of importance for precious metals investors.
If you’re still unsure about the company or gold IRAs in general, attending one of Monetary Gold’s monthly webinars could be a great way to introduce yourself.
The staff covers various topics relating to precious metals, including the outlook for inflation, central bank policies, and other vital issues.
It’s an excellent arena to see the Monetary Gold staff in action.
Best of all, it’s entirely free.
If you want to check one out, you can register for the invite list here.
Gold IRAs are Monetary Gold’s flagship product.
These specialized retirement accounts allow you to invest in precious metals while maintaining the tax benefits associated with traditional IRAs.
Monetary Gold’s IRA services can provide excellent diversification to your existing investment portfolio without sacrificing any of the tax benefits associated with traditional IRAs.
When you’re ready to get started, Monetary Gold’s helpful IRA team will help you through every step of the onboarding process.
They’ll even show you how to roll over your IRA with minimal to no tax consequences.
However, you don’t have to transfer assets from an existing IRA.
You can also make cash contributions to your new account to make the process even smoother.
What’s Monetary Gold’s Minimum Investment?
You can get started with a minimum investment of $5,000 to $10,000, depending on the IRA custodian you choose.
Once your IRA account is open, you can buy precious metals through the Monetary Gold website.
Opening a Gold IRA isn’t your only option, though, as you are free to open other precious metal IRAs, including platinum, palladium, and silver.
Monetary Gold buys its metals directly with no middleman, and the company passes the savings onto its clients.
This is how it offers some of the best prices available on certified graded coins, bullion, and more.
Once you’ve purchased your metals, you can either take delivery at home or store them in the Delaware Depository for a very reasonable annual storage fee.
Best of all, you’re not limited to precious metals.
Your gold IRA can also hold stocks, bonds, treasury securities, annuities, and other investments, so you can keep all your assets in one portfolio.
Those are the basics, but we’ve covered gold IRAs a lot in this review, so you probably get the picture.
To learn more, get Monetary Gold’s complimentary gold guide here.
Delaware Depository Storage
Secure storage in an insured depository is available for gold IRA customers for an annual fee.
The Delaware Depository Storage Company operates the facility, and it’s insured by Lloyds of London, one of the most prestigious financial institutions in the UK.
With state-of-the-art security systems and 24/7/365 monitoring, you can rest easy knowing your precious metals are protected from any eventuality.
Monetary Gold Storage Fees
Annual storage and insurance costs start at $100 for up to $100,000 worth of assets.
If your account holds more than that, you’ll pay $1 for every additional $1,000 in storage.
For example, if your gold IRA has a $150,000 balance, you’ll pay just $150 for secure, fully insured storage.
This is a very competitive pricing model, which is why most investors don’t mind Monetary Gold’s fees.
Delaware has investor-friendly tax policies as well.
You won’t pay any state sales tax, personal property tax, inventory tax, or commercial net worth tax like you would in other states.
There’s also no tax on the payment of depository storage fees like there is in New York, so your tax costs are significantly lower in Delaware than they would be anywhere else.
Honestly, you would pay a lot more to secure and insure precious metals stored in your home than you would with Monetary Gold storage.
Worse yet, a determined burglar can defeat even the most cutting-edge security system with enough persistence and guile.
Even the most secure at-home security system isn’t perfect.
You can rest easy knowing your assets are 100% safe in the Delaware Depository.
Your storage assets are fully insured, too, so you’re covered no matter what happens.
Private Storage IRA
Private storage of your IRA-held precious metals is available, but Monetary Gold flat-out says that they don’t recommend it.
Currently, private storage of RA precious metals is a legal grey area.
It hasn’t been approved by the IRS, but it hasn’t been disapproved either.
Right now, it’s allowed, but regulators could change the rule at any time.
If the IRS eventually disapproves of private storage, it could create significant headaches down the road.
You could be forced to transport all your metals to approved storage or, worse, forcefully liquidate them.
That’s all just speculation, but the point is that we don’t know what will happen with this rule in the future.
Monetary Gold can’t be held accountable for your decision to store your own precious metals, and the firm doesn’t recommend or advertise private storage.
You should consult with your tax advisory or attorney before deciding to go this route, but it is available if you’re so inclined.
You can take delivery of your metals for a $30 flat fee and store them in your home, a safety deposit box at your bank, or wherever else you choose.
Also, monetary Gold is currently offering free shipping for new customers, so you can avoid the fee on your first transaction.
A Private storage IRA comes with some potential risks, but it allows you to keep direct control of your assets.
Some may prefer it for that reason.
Monetary Gold Review: IRA Costs
There are no costs to open a gold IRA with Monetary Gold.
However, there is a minimum investment ranging from $5,000 to $10,000, depending on the IRA custodian you choose.
You can also avoid early withdrawal tax penalties.
The IRS views the transaction as a transfer because you’re just moving assets from one custodian to another.
There are some finer points to consider, but you can generally avoid tax penalties if you roll over your assets correctly.
If you decide to store your precious metals through Monetary Gold’s Delaware Depository program, you’ll only pay an annual fee of $100 for up to $100,000 worth of assets.
The fee covers both secure storage and insurance.
You’ll also pay a small markup on your precious metals purchases, but that’s the standard operating procedure in the precious metals business.
Fortunately, Monetary Gold’s markup is small compared to most, thanks to its direct dealer status.
However, this is only a brief overview, so don’t take it as the end-all answer for all of the company’s pricing policies.
Read Monetary Gold’s complimentary gold guide for more info.
Monetary Gold Review: Pros and Cons
Monetary Gold has a lot to offer precious metals investors.
Here are the best and worst aspects of the company and its services.
Monetary Gold Review: Pros
- Direct precious metals dealer; minimal markup on IRA-approved metals
- Setting up a gold IRA account is relatively simple compared to other services
- Secure storage starting at $100 for up to $100,000 worth of assets
- Private storage IRA options are available (not recommended)
- Can buy precious metals outright
- Free precious metals investing guide available on the website
- Hosts monthly workshops that are open to the public
- Excellent industry ratings — BBB Accredited business with an A+ rating
- Minimal complaints and excellent reviews from customers
- Dedicated gold IRA support staff
- Versatile gold IRA can hold gold, silver, platinum, palladium, stocks, bonds, and more
- Monetary Gold covers up to five years of custodial fees for clients that qualify
- Rollover your portfolio with no tax penalties or fees
- Minimum opening investments as low as $5,000
- Complete the application process and open an account in 48 to 72 hours
- Choose from certified-graded coins, bullion, and semi-numismatic coins
Monetary Gold Review: Cons
- Private storage IRAs come with some regulatory risks
- No platinum or palladium currently in stock due to open market demand
Is Monetary Gold Right for Me?
Monetary Gold is an excellent option for investors who want direct gold ownership in their portfolio.
Here are some examples of people who can benefit from gold IRA services from Monetary Gold.
If you’re worried about a currency crisis, then you can’t go wrong with gold or silver.
Unfortunately, ETFs and publicly traded trusts don’t provide direct ownership of precious metals assets.
A gold IRA allows you to insulate your investments from the US dollar, and your account can still hold traditional paper-based assets like stocks.
A lot of people are worried about the future.
If you’re prepared for a disaster scenario, don’t stop short of your finances.
Owning physical gold could protect your portfolio from a total meltdown and give you a safety cushion in case things take a turn for the worst.
If you’re retired or getting close to the finish line, protecting your portfolio from short-term volatility is a significant priority.
A stock market meltdown could quickly take the shine out of your golden years, but a gold IRA provides tax-advantaged diversification that shields you from an uncertain future.
Precious Metals Bulls
Many people can see the clear bull case that’s building around the precious metals market.
Gold IRAs allow you to capitalize on potential price appreciation while retaining the tax benefits associated with a traditional retirement account.
So it’s the best of both worlds.
As a direct dealer, Monetary Gold offers excellent prices on its precious metals.
Most precious metals sellers use a third-party broker to source their metals, but Monetary Gold gets its goods right from the source.
The money they save gets passed along to clients like you, so you save big on every purchase.
How to Get Started with a Monetary Gold IRA
If you’re ready to get on board with a gold IRA, fill out this form to get in touch with a Monetary Gold IRA expert.
You’ll also get a gold investing guide as an onboarding gift.
That’s it! Once you fill out the form, Monetary Gold will reach out to you to start the process.
You’ll also have a chance to ask whatever questions you have before you commit.
Once you start the process, you’ll be good to go in 48 to 72 hours.
It’s a rapid turnaround, so you can begin trading quickly.
Click here to reach out to Monetary Gold and claim your gold guide.
Monetary Gold Review: Final Verdict
Monetary Gold is an excellent destination for your investment portfolio.
The gold IRA onboarding process is quick and painless, and the company offers some of the best precious metals prices in the industry.
BBB gives this company an A+ rating for a reason, and most of Monetary Gold’s clients agree that this is an excellent company.
You can choose from a wide selection of gold, silver, platinum, and palladium, so you get the perfect asset mix for your investing goals.
And the staff will also explain how you can minimize potential tax penalties.
Also, secure storage at the Delaware Depository comes at a great rate as well.
Many gold IRA firms offer storage at this facility, but Monetary Gold has some of the lowest rates we’ve seen.
All things considered, Monetary Gold is an excellent option for precious metals investors.
It’s a quality company with excellent prices, affordable services, and a highly knowledgeable team.
If you’re in the market for a gold IRA, you should give Monetary Gold a serious look.