Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback.
Quick Summary: Monetary Gold is a company that specializes in precious metals IRAs, referred to commonly as Gold IRAs. The company began its operations in 2000, more than twenty years ago, and has become among the most top-rated suppliers of Gold-based retirement accounts. Monetary provides to collectors and investors certified coins and semi-numismatic coins for purchase.
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GoldStar Trust Company provides custodial services, while Delaware Depository offers storage services for Monetary Gold customers.
Nevertheless, Monetary Gold, like Lear, does not deal with palladium or platinum products, and its management team remains concealed.
Although I don't have them in my top 5 list, you can check out the best gold ira company contenders on my main review. Some other companies I reviewed include Oxford Gold Group, Patriot, JM Bullion, SD Bullion, 7k Metals, and many more.
$50,000 Minimum Investment
Free portfolio reviews for all clients
Monetary Corporation is an American company chattered in California, specifically in Westlake.
The primary contact of the company is Ms. Andrea, supposedly the major shareholder at the company.
It has thirty-seven employees, according to BBB profile, and maintains regular working hours throughout the week.
Monetary Gold’s headquarters is on the west coast and its operating hours are between 6 am and 4.30 pm, with staff ready to respond to calls from their east coast customers.
However, it is not clear who owns the company because that information is not disclosed.
Nevertheless, it is a legitimate enterprise with a fully-staffed office.
Monetary Goal does not disclose information on its leadership and management teams.
Similarly, the company does not provide details about those responsible for running it on its LinkedIn page.
Storage and Custodial
GoldStar Trust company provides custodial services to the firm.
On the other hand, Delaware Depository stores the precious metals clients purchase through Monetary Gold.
Specifically, the facility offers non-segregated and segregated storage options and is fully covered through one of the oldest insurance providers globally, Lloyd’s of London.
If you choose Delaware Depository, it also offers international storage options under the Bank of Nova Scotia and Via Mat International, located in Toronto, Canada, and Zurich, Switzerland, respectively.
Monetary Gold Products
The Monetary Gold investment catalog comprises silver and Gold IRA-certified coins, semi-numismatic coins, and certified-graded coins.
If you are interested in holding one of these precious metals in the form of a self-directed IRA, Monetary Gold offers some trendy silver and gold coins.
Clients that opt for the gold option can choose from the American Gold Buffalo, the American Gold Eagle, the Gold Austrian Philharmonic, and Gold Canadian Maple Leaf.
On the other hand, those interested in gold products there are the American Silver Eagle and the Canadian Silver Maple Leaf.
At present, the company does not deal with platinum or palladium products.
Nevertheless, Monetary Gold indicates on the website that the two products will be on the offering soon.
Gold IRAs are a flagship product of Monetary Gold.
They are distinct retirement accounts that let you invest in gold and silver while still exploiting the tax benefits that traditional IRAs offer.
The company’s IRA services can be a brilliant way to diversify your current portfolio without necessarily sacrificing the tax benefits associated with the typical IRAs.
The IRA team provides a helpful guide to assist you with the onboarding process for those ready to start.
Clients are taken through the directions on rolling over their existing IRA without attracting substantial tax consequences.
It is not necessary to transfer assets to the new account from the current IRA.
Clients can make cash contributions to fund the new account, which is a much smoother process.
Augusta Precious Metals
Augusta is the leading provider of Gold and other precious metal IRAs. They offer exceptional customer service and diversification options for their clients.
Depending on your preferred IRA custodian, the minimum investment is between $5,000 and $10,000.
After opening an IRA account, you can purchase precious metal from the company’s website, https://monetarygold.com.
Apart from opening an account with Monetary Gold, you can open other IRAs, including Gold and silver.
The company sources its metals directly from sellers and does not purchase through intermediaries to reduce costs and pass the resulting savings to customers.
Through this strategy, Monetary has managed to offer the best prices for its certified-graded bullion, coins, and so much more.
After purchasing your precious metals, you can choose to store them at your home or have the Delaware Depository hold them for you at a relatively affordable storage fee, billed annually.
The company does not have a cap on the number of precious metals one can purchase.
Monetary Gold allows private storage for your IRA-held metals, although it does not recommend it. Presently, personal storage of precious metals remains a grey area legally.
Although IRS has not approved it, it has also not disapproved it.
Currently, IRA allows it, but as a regulator, it may change rules at any point.
If it disapproves of private storage, the move could pose significant challenges ahead.
Clients will have to transport their IRA possessions to approval storage, or worse off, forced to liquidate their precious metals.
However, that is simply speculation, but what is certain is that the rule will change in the future.
Monetary Gold will not be accountable for clients’ decisions to store their IRAs privately, and the firm does not advertise or approve private storage.
You should consult an attorney or tax advisory before making a decision on which route to take. You can have them delivered to your warehouse at a flat rate of $30.
The company also offers free shipping for first-timers, who can exploit the opportunity to avoid the fee during their first purchase.
There are numerous risks with private storage, although you be directly in control of your precious assets.
Direct Buyer Pricing
The company is a direct buyer and eliminates intermediaries to take advantage of the low pricing and offers prices that other IRA custodians cannot match.
Freeing up go-betweens hand changes, Monetary Gold a substantial advantage over its competitors, aside from Noble Gold Investments.
It allows customers to achieve considerable savings in the accounts thanks to the lower pricing.
What Sets the Company Apart?
Most precious metal IRA companies only act as brokers between dealers and brokers transactions. It means that their prices are higher because they pay more to source them. As a direct dealer, Monetary Gold can get amazing deals on precious metals, which they eventually pass to clients.
Monetary Gold offers a range of coins, from Gold and silver to bullion, as well as semi-numismatic coins. The latter is considered a sound investment in precious metals widely, and hence their presence is of more value to the company’s IRA catalog.
For those interested in opening precious metals IRA or Gold IRA accounts with Monetary Gold, the company has all you need. They provide a guide on the website to help you understand the basics of their investment options.
1. Certified-graded bullion and coins
2. Direct buyer
3. First-rate IRA staff
4. Free shipping for private storage customers
5. Free workshops online
6. Precious metals IRAs
7. Provide highly secure storage services through the Delaware Depository
Monetary Gold is a decent option for your highly diversified investment portfolio.
The onboarding process for Gold IRA is painless and quick, and the company provides one of the best prices for precious metals within the industry.
It provides a great range of options for Gold, silver, and bullion, and hence clients get a perfect mix of their investment goals.
The highly knowledgeable staff will help you understand ways of minimizing possible tax penalties.
For those in the market for precious metal IRAs, consider checking out Augusta Precious Metals.