Patriot Gold Group Review: Fees, Complaints, and IRA Reviews
Read this Patriot Gold review to learn about their experience in handling IRAs, as well as their offered precious metal investment options, which include bars and coins from the U.S., Canadian, Australian, U.K., and South African mints.
Established in 1986, the company has been awarded star ratings from the Better Business Bureau (BBB) and remains a leading IRA dealer in America. Headquartered in Los Angeles, CA, Patriot Gold Group helps its customers invest in precious metals, especially gold and silver.
Patriot Gold Group Background
Patriot Gold Group is a broker in precious metals, such as gold, silver, platinum, and palladium coins and bars. Additionally, the company will set up and maintain your precious metals IRA, work as your custodian, and ensure the smooth running of the account. The company is in Los Angeles, CA, and has been in business for over three decades.
Patriot Gold Group
What’s offered
Precious metal IRAs; gold, silver, platinum, and palladium coins and bars
Patriot Gold Group is very transparent, and it buys, holds, and sells precious metals according to IRS guidelines. These precious metals can be delivered to your home or held at an IRS-approved depository.
Patriot Gold Group has developed a mutual relationship with some highly trusted storage companies like Brinks Global, which can keep your precious metals safe.
Once you have set up your account, an account manager will handle all of your transactions and keep you informed about new investments that might interest you. Patriot Gold offers custodial services through STRATA Trust and Equity Institutional.
Patriot Gold Group offers the following products and services:
Precious metal IRA
Silver, gold, platinum, and palladium coins and bars
Patriot Gold IRA Review
Some investors may opt to open a precious metal IRA or rollover their existing retirement funds into this type of account. The difference between a traditional retirement account and a precious metal IRA is that the latter contains physical assets, such as gold coins and bars. Additionally, precious metal IRAs are inversely tied to the stock market. As a result, investors may enjoy less volatility and more steady asset growth with tangible investments.
Keep in mind not all precious metals qualify for IRAs. However, Patriots Gold Group offers a wide variety of products that fit the criteria. The 1997 Taxpayer’s Relief Act limits metals for IRAs to gold, silver, platinum, and palladium. The metals all come in coins and bullion form, but they must meet a minimum fineness to qualify for an IRA account.
Silver: 0.999% fineness
Gold: 0.995% fineness except for the American Gold Eagle
Platinum and Palladium: 0.9995% fineness
Silver, Gold, Platinum, and Palladium Products
Patriot Gold Group offers investment options in gold, silver, platinum, and palladium coins and bars. Their gold and silver products are from the U.S., Canadian, U.K., Australian, and South African mints. The following are some of their products:
One-ounce U.S. gold American Eagle coin
One-ounce U.S. gold American Buffalo coin
Royal Canadian gold Maple Leaf coin
South African gold Krugerrand coin
The U.S./UK “Atlantic Alliance” Exclusive silver coin
10-ounce silver bar
One-and-a-half-ounce Australian Striped Marlin 2020 silver bullion coin
Patriot Gold Group Fees and Costs
As with all precious metal companies, there are fees attached to opening and maintaining accounts. With Patriot Gold Group, a one-time fee of $225 is paid for investments below $30,000. Conversely, A No Fee for Life IRA takes effect if the investment is more than $250,000. Additional fees include:
Set up fee
$225
Insurance and storage fee
$140
Minimum IRA
$15,000
Patriot Gold Group Pros & Cons
Before investing with Patriot Gold Group, consider some of these factors:
Pros
Free Investor Guide
Patriot Gold Group is committed to educating investors on how to begin purchasing physical assets.
Investor Direct Pricing
Real-time Account Access
Investors can monitor and receive updates via the company's website.
Excellent Reputation
Patriot Gold Group reviews are overwhelmingly positive, praising their trustworthy and transparent approach to precious metal investments.
Cons
No Online Application
Despite having access to their accounts online, investors still need to call a company representative to open an account and purchase assets.
Limited Options
No Online Pricing
To receive an estimate on the cost of the physical assets, investors need to call a representative.
How to Open an Account
Patriot Gold Group offers a relatively straightforward process of opening a precious metals IRA account. You need to visit their website to fill out the application form. You can also call them at (877) 583-2399 if you prefer. An account representative will guide you through the process of opening the account, funding it, and choosing precious metals to invest in.
For existing IRA account owners, you can roll over your assets to your newly set up IRA gold account with Patriot Gold Group. This is usually free of transfer tax. Once done, Patriot Gold Group will help you purchase precious metals and safekeeping according to IRS guidelines.
Patriot Gold Group Reviews, Ratings, and Complaints
Patriot Gold has been in the precious metals investment industry for over three decades. Their track record is verified by the fact that 99% of Patriot Gold Group reviews on the TrustPilot give them a 5-star rating and BBB awarded them with an A+.
Composed of well-versed professionals, Patriot Gold Group has been in existence since 1986. Patriot Gold Group’s clearest indication of its legitimacy is accreditation from the Better Business Bureau and the Consumer Protection Agency. They also had no history of complaints of fraud or mistreatment from customers over their three decades in business.
What Metals Does Patriot Gold Group Offer?
Patriot Gold Group assists you in acquiring precious metals for your IRA. Patriot Gold Group deals with gold, silver, platinum, and palladium coins and bars.
Where Does Patriot Gold Group Store My Precious Metals?
Patriot Gold Group offers its consumers custodial services through STRATA Trust and Equity Institutional. Unfortunately, the company doesn’t disclose its depository partners. It is best to reach out to a representative to clarify this information.
Can I See How My Precious Metal IRA Is Performing?
Patriot Gold Group’s website contains information on gold and silver pricing, thereby helping you with your investment strategy. Additionally, the account representative handling your account will also provide you with an online account that will help you monitor your portfolio.
How Long Does It Take To Set Up an IRA With Patriot Gold Group?
Setting up an IRA account with Patriot Gold Group takes no longer than 24 hours. You can begin by completing the IRA setup form on their website. You can also call them to start the setup process with the help of a broker. Once your account has been set up, you can fund it immediately. A broker will guide you in finding precious metals that are best suited for your account.
Do My Precious Metals Have to Be In the Form of Bars, or Can They Be Coins?
Both coins and bars are acceptable for IRAs. However, these coins and bars must meet IRS guidelines.
Can I Choose Any Self-Directed IRA Custodian, or Do I Have to Use Patriot Gold Group’s Recommended Companies?
Patriot Gold Group has recommended self-directed IRA custodians who work for Equity International and the STRATA Trust Company. However, you can still work with any IRS-approved self-directed IRA custodian.
Can I Choose Any Storage Company, or Do I Have to Use Patriot Gold Group’s Recommended Companies?
Patriot Gold Group lets you choose which storage company to store your precious metals with. However, they recommend working with the DDSC of Delaware and Brinks Global. They can also assist you in contacting the storage company of your choice and assist you in transportation.
Can I Store My Precious Metals at Home?
Non-IRA precious metals purchases can be kept at home; however, IRS regulations prohibit you from keeping IRA precious metals at home or in a safety deposit box. All physical IRA assets must go through accredited banks and trustees who adhere to the regulations.
Are the Values of the Precious Metals I Buy for My IRA Guaranteed?
Although precious metal investments may be less prone to volatility, that value is still not guaranteed. Prices rise and fall based on market influences at different times. Because of this, you have to seriously consider several factors before venturing into purchasing precious metals.
How Can I Withdraw From My Account?
Patriot Gold Group offers two ways of withdrawing from your IRA account:
Option 1: Patriot Gold Group will help you transport your precious metals from storage to your home. You can then sell them yourself.
Option 2: You can contact your account representative to assist you in selling your precious metals. The company may offer to buy back your precious metals.
