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When considering entrusting your money to a company, careful evaluation is essential. The advantages and disadvantages of various gold IRA providers vary and depend on the investor’s specific needs and financial goals.
Advantage Gold, as a leader in the industry, offers gold Individual Retirement Accounts (IRAs) with a range of benefits.
They provide various bullion coins and facilitate the seamless transfer of funds from other IRAs. Advantage Gold is widely recognized as the preferred destination for purchasing precious physical metals or gold IRAs.
We aim to assist you in finding the most suitable IRA provider for your requirements. This review will explore the company’s background, product offerings, legitimacy, services, fees and conditions to understand what sets Advantage Gold apart from its competitors,
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- Products: Precious Metals
- Owner: Adam Baratta & Kirill Zagalsky
- Rating: 4.8/5
About the Company
Advantage Gold was established in June 2014 by Adam Baratta and Kirill Zagalsky, former senior account executives. Although it took some time for the Los Angeles-based company to establish itself as a prominent player in the precious metals IRAs industry, it eventually emerged as a frontrunner known for providing safe and hassle-free services.
One of Advantage Gold’s core beliefs is that customers should have access to the necessary resources and information to make informed financial decisions.
This dedication to the precious metals industry is evident in the company’s comprehensive range of services. They assist clients in setting up precious metal IRAs, facilitating account rollovers and more.
A notable aspect of Advantage Gold is its commitment to personalized and in-depth IRA guidance. Highly trained professionals provide customers tailored assistance, addressing their needs and goals.
To ensure the security of their customers’ precious metals IRAs, Advantage Gold partners with STRATA Trust Company and Equity Trust Company, both trusted names in the industry. Additionally, they collaborate with Brinks Global Services and Delaware Depository, renowned companies specializing in safeguarding assets.
Advantage Gold also offers a First Time Gold Investor Program to make investing in precious metals more accessible for new investors. Their team provides thorough instructions and guidance, helping clients overcome the potential barriers associated with precious metals investment.
Through this program, investors gain knowledge on various subjects, such as the advantages of investing in Gold and other precious metals, exploring different investment vehicles and establishing or rolling an existing IRA into a gold IRA. Clients who transfer at least $50,000 will enjoy fee-free services during the first year.
Furthermore, investors who deposit $25,000 or more into their account immediately qualify for additional savings. Advantage Gold ensures the safe transportation of precious metals by offering fully insured delivery at no cost for the first purchase. They also provide a quick turnaround time of two to three business days for shipping.
Is Advantage Gold a Scam?
Advantage Gold is a legitimate and highly regarded firm in the industry, with recognition from several authoritative bodies. Since 2014, Advantage Gold has been accredited by the Better Business Bureau (BBB) and maintains an excellent A+ rating.
The company boasts impressive scores in various testimonial platforms, reflecting its strong reputation:
- Facebook reviews also speak highly of Advantage Gold, with an average rating of 4.7 out of 5 stars.
- On the BBB website, Advantage Gold has 4.81 out of 5 stars.
- TrustLink, a trusted customer review platform, showcases approximately 500 reviews for Advantage Gold, all contributing to a perfect 5 out of 5 stars rating.
- Trustpilot, another well-known review platform, features over 750 reviews for Advantage Gold, with an average rating of 4.9 out of 5 stars.
Moreover, Advantage Gold holds the distinction of being an official U.S. Mint-authorized dealer, further solidifying its credibility. The company is also a member of the American Numismatic Association, an esteemed organization within the numismatic community.
These accolades and high ratings from reputable sources demonstrate that Advantage Gold is a legitimate firm with an intense customer satisfaction and trustworthiness track record in the precious metals IRA industry.
The company has received overwhelmingly positive feedback from satisfied customers, showcasing its commitment to delivering exceptional service. Additionally, Advantage Gold has established strategic partnerships with renowned institutions in the industry, further enhancing its credibility.
One key aspect that sets Advantage Gold apart is its dedication to customer support. The company ensures an account representative is readily available to address investors’ inquiries or concerns, providing personalized assistance throughout the investment process.
Advantage Gold offers a wide range of precious metal products suitable for IRA contributions, including Gold, silver, platinum and palladium coins.
By storing these metals in their insured and secure vaults, investors can avoid the challenges and potential risks associated with self-storage and shipping.
Advantage Gold provides 12 options for gold coins eligible for inclusion in IRAs. These coins come in various weights to accommodate investors’ preferences. The selection includes:
- Gold Canadian Wild Horse
- Gold Canadian Maple Leaf
- Gold Canadian Great-Horned Owl
- Gold Austrian Philharmonic
- Gold Canadian Bighorn Sheep
- Gold American Eagle Proofs
- Gold American Eagle
- American Buffalo
- Gold Canadian Wolverine
- Gold Canadian Polar Bear and Cub
- Gold Canadian Woodland Caribou
- American Buffalo Proofs
Advantage Gold offers nine silver coins eligible for IRA contributions for those interested in silver IRAs. These coins are available in various weights and include:
- Silver American Eagle Proofs
- Silver Canadian Great-Horned Owl
- Silver Canadian Wolverine
- Silver Canadian Wild Horse
- Silver Canadian Polar Bear and Cub
- Silver Canadian Bighorn Sheep
- Silver Canadian Woodland Caribou
- Silver Canadian Maple Leaf
- Silver American Eagle
- Mexican Libertad
- Silver Austrian Philharmonic
Advantage Gold also provides six options for platinum coins that meet the requirements for IRA inclusion. These coins offer diversification beyond Gold and silver and include:
- Platinum Australian Emperor Penguin
- Platinum Australian Humpback Whale
- Platinum American Eagle
- Platinum American Eagle Proofs
- Platinum Australian Leopard Seal
- Platinum Canadian Maple Leaf
In addition to Gold, silver and platinum, Advantage Gold offers palladium coins for IRA investments. Investors can choose palladium Canadian Maple Leaves as an alternative to other precious metals.
With this diverse selection of coins from reputable mints such as the Royal Canadian Mint, the United States Mint, the Perth Mint and others, Advantage Gold provides investors various options to suit their preferences and investment goals within a precious metals IRA.
Advantage Gold offers a comprehensive range of services to cater to the needs of investors in the precious metals market. Here are the detailed services provided by Advantage Gold:
Training and Education Resources
Advantage Gold recognizes the importance of investor education and provides extensive training and educational resources. They offer a specialized program designed explicitly for first-time gold investors.
This program includes a free gold IRA handbook that covers a wide range of topics, including the IRA rollover process, investing in precious metals IRAs and purchasing premium coins.
By providing in-depth educational materials, Advantage Gold equips investors with the knowledge and understanding to make informed financial decisions.
Consultation with Experienced Professionals
Advantage Gold boasts highly experienced professionals who serve as account executives. These experts have extensive knowledge of the precious metals market and provide personalized consulting services to investors.
They guide investors through the complexities of the market, helping them assess their investment options and make well-informed choices based on their financial goals and risk tolerance. Advantage Gold ensures investors can confidently navigate the market by offering valuable insights and advice.
Precious Metals Storage
Advantage Gold understands the importance of secure storage for precious metals investments. To comply with IRS regulations, IRA-held precious metals cannot be stored in private residences.
Therefore, Advantage Gold partners with reputable third-party vendors, such as Brinks Global Services and Delaware Depository, to provide secure storage solutions for investors’ precious metals.
These storage facilities employ state-of-the-art security measures, insurance coverage and scalability to safeguard investors’ assets. Vault storage costs range from $100 to $150 per year, depending on whether investors choose segregated storage.
Advantage Gold offers a convenient Buyback Program, allowing investors to sell their precious metals quickly. Investors may question the selling process after establishing a gold IRA and purchasing precious metals.
The Buyback Program streamlines this process by guaranteeing investors the current market price for their precious metals. Advantage Gold ensures that investors receive a fair return on their investment and may even increase their bids for rare or desirable coins.
This program maximizes the efficiency and profitability of selling precious metals investments.
Precious Metals Delivery
While direct bullion sales cannot be included in an IRA, Advantage Gold allows investors to purchase coins for diversification or collection purposes. They offer free shipping, insurance coverage and quick turnaround times for these purchases.
Investors can expect their shipments to arrive within two to three business days. Advantage Gold sets specific requirements for eligibility to avail of these benefits, ensuring a smooth and secure delivery process.
Advantage Gold IRA
Advantage Gold allows individuals to establish a gold IRA, an investment account for retirement savings. With a gold IRA, investors can diversify their retirement portfolio by including precious metals as assets in addition to traditional cash-based investments.
Advantage Gold’s team of Gold IRA specialists is dedicated to providing comprehensive guidance and support throughout the process. They will explain the intricacies of investing in a gold IRA, ensuring investors thoroughly understand the benefits and potential risks.
Whether investors require advice or administrative assistance with their self-directed IRA, Advantage Gold offers two reputable options for custodians: STRATA Trust Company and Equity Trust Company. These trusted custodians can help investors effectively manage their gold IRA accounts.
Advantage Gold’s rollover method allows investors to convert various existing retirement plans into a gold IRA. This includes Traditional and Roth IRAs, SEPs (Simplified Employee Pension), Simple IRAs, 401(k) plans, 403(b) plans and Tax Sheltered Annuity plans.
By utilizing the rollover method, investors can seamlessly transfer their retirement savings from these existing plans into a gold IRA, benefiting from the potential advantages of investing in precious metals.
How Gold IRA Works
A gold IRA operates differently from traditional IRAs that typically involve investing in equities, bonds, or currencies. With a gold IRA, you can convert a portion of your existing IRA into physical precious metals, such as Gold.
Advantage Gold, as a provider of gold IRAs, recommends investing in gold bullion as a preferred choice. However, they offer other options as well.
To assist individuals interested in investing in precious metals and maximizing their potential financial gains, Advantage Gold provides a comprehensive gold IRA Guide.
This guide covers essential topics such as IRA rollovers, which explain the process of transferring funds from an existing IRA to a gold IRA.
The Gold IRA Guide also provides insights on minimizing costs and taxes associated with the investment and discussing the benefits of Gold as a store of value. It highlights how Gold can hedge against inflation and the stock market’s volatility, offering stability and wealth protection.
One of the key concepts emphasized in the guide is the importance of diversifying one’s investment portfolio. It explains why relying solely on paper assets can be risky and why including physical precious metals, such as Gold, can help create a well-rounded and resilient portfolio.
Individuals interested in becoming Advantage Gold customers can expect to receive a wealth of information and resources. The company ensures expert guidance is readily available to assist customers throughout their gold IRA journey.
By providing this level of support and education, Advantage Gold aims to empower investors and help them make informed decisions to safeguard their wealth.
Setting Up an Account with Advantage Gold
Opening an account with Advantage Gold is a straightforward process that provides access to valuable resources and information every step of the way. The company offers two trusted custodians for precious metals IRAs: STRATA Trust Corporation and Equity Trust.
Advantage Gold’s website provides sign-up buttons for each custodian to begin the account enrollment process. If you open a gold IRA with either STRATA Trust or Equity Trust, clicking the respective link will direct you to an Adobe Sign registration page.
You can create an account and use Adobe Sign immediately to complete the necessary documentation.
If you prefer to apply for an Advantage Gold IRA over the phone rather than online, their support team can assist you. Contact them and an IRA custodian will guide you through setting up a self-directed retirement account.
If you already have a retirement account, you can roll over your funds into the new Advantage Gold IRA. This transfer or rollover allows you to add liquid assets to your account, which can then be used to purchase standard bullion coins, bars, or other precious metals according to your investment preferences.
Fees and Pricing
When it comes to fees associated with an Advantage Gold IRA, there are several components to consider. The specific costs can vary depending on the custodian chosen, but here are some factors that can contribute to the total expenses:
When opening an account with either STRATA Trust or Equity Trust, there is an initial direct investment fee of $50. This fee applies to each account you open, so you will be charged accordingly if you have multiple accounts.
Storage costs are incurred for holding your precious metals in a secure facility. These expenses include insurance and security measures. You typically have two options for storage:
- Segregated storage: This option separates your precious metals from other investors’ holdings in a dedicated vault. Both STRATA Trust and Equity Trust charge an annual fee of $150 for segregated storage.
- Non-segregated storage: With non-segregated storage, your precious metals are stored in the same vault as other investors’ holdings. STRATA Trust and Equity Trust have an annual fee of $100 for non-segregated storage.
Portfolio Management Fees
Most custodial services charge an annual fee for managing your IRA account. STRATA Trust has an annual management fee of $95. Equity Trust Company’s maintenance fees range from around $225 to over $225 per year. It’s advisable to consult with a custodial agent for specific details regarding portfolio management fees.
Additionally, Advantage Gold offers some incentives and fee waivers for new account holders:
- Fee-free first year: If you roll over more than $50,000 from another retirement account when opening your Gold or precious metals IRA, there is no annual fee for the first year.
- Bonus for deposits: If you deposit at least $25,000 into your account, you may qualify for a prize or additional benefits. The specifics of these bonuses can be obtained through further discussion with an Advantage Gold representative.
Advantage Gold acknowledges that fees can vary from investor to investor and does not provide a comprehensive list of prices on its website. Apart from the previously mentioned fees, additional expenses may be based on individual account circumstances or specific products and services chosen.
During the account sign-up process and consultation with an Advantage Gold representative, you will receive a detailed breakdown of the costs involved. The representative will consider your investment goals and market understanding to negotiate fair pricing for the services rendered.
According to customer reviews, Advantage Gold is known for offering some of the lowest fees among precious metal IRA providers.
It’s essential to clearly understand the potential costs associated with your specific investment needs. This includes knowing any possible fees for account setup, custodial services, storage, management, or other applicable services.
By working closely with an Advantage Gold representative, you can understand the fees comprehensively and make informed decisions based on your circumstances and investment objectives.
Advantage Gold does not have a minimum investment, making it an attractive option for new and experienced investors. This flexibility allows individuals to start investing in precious metals at their own pace, regardless of their initial capital.
While there is no set minimum investment amount, experts generally recommend allocating at least $5,000 to cover the costs of opening an IRA. This ensures that investors have a sufficient amount to cover fees and expenses while establishing their accounts.
Determining an appropriate initial investment and future contribution plan depends on various factors, including income, debts and retirement goals. It is advisable to consult with a financial advisor who can assess your specific circumstances and help you develop a suitable investment strategy.
In the case of a rollover investment from an existing retirement account, Advantage Gold may have a minimum rollover investment requirement.
Inquiring with an Advantage Gold representative about the minimum amount needed to transfer funds is essential. Sometimes, the minimum rollover investment may be higher, such as $25,000 or more.
Advantages of Advantage Gold
- Education and resources: Advantage Gold provides extensive educational resources to help customers understand the complexities of investing in precious metals and IRAs. This includes a free gold IRA handbook and guidance from experienced account executives.
- Diverse product selection: Advantage Gold offers a wide range of Gold, silver, platinum and palladium coins eligible for IRA contributions. They collaborate with reputable mints, such as the Royal Canadian Mint and the United States Mint, providing customers with various options for their investment portfolios.
- Storage and security: By utilizing the insured and secure vaulting services of Brinks Global Services and Delaware Depository, Advantage Gold offers customers a safe and convenient storage solution for their precious metals. This eliminates the need for individuals to handle and store their physical assets.
- Buyback program: Advantage Gold’s Buyback Program allows customers to sell their precious metals at the current market price, maximizing their return on investment. This program streamlines the process and provides liquidity for customers needing to sell their assets.
Disadvantages of Advantage Gold
- Limited track record: Advantage Gold is a relatively new company compared to more established competitors in the industry. Some investors may prefer working with companies with a longer track record and established reputation.
- Lack of transparent fees: Advantage Gold does not list specific fees on its website and costs can vary depending on factors such as custodian choice and storage options. Potential customers may find it challenging to assess the total cost of their investment without a detailed breakdown of fees.
Why Put Gold in Your IRA?
Investing in a gold IRA offers several benefits and can be a wise strategy for securing your financial future during retirement. Here are some reasons why putting Gold in your IRA is advantageous:
- Preserving value: Gold is known for retaining value over time. Unlike cash, which can be subject to inflation and loss of purchasing power, Gold has historically acted as a reliable store of wealth. By including Gold in your IRA, you can help protect your savings from the erosive effects of inflation.
- Diversification: Diversifying your retirement portfolio is essential for managing risk. Adding Gold to your IRA introduces an asset with a low correlation with traditional paper assets like stocks and bonds. Gold often exhibits a different performance pattern during periods of economic uncertainty or market volatility, which can help stabilize your overall portfolio.
- Hedge against economic uncertainty: Gold has long been considered a haven asset during economic turmoil. Gold performs well when stock markets experience volatility, geopolitical tensions rise, or currencies face challenges. Including Gold in your, IRA can hedge against these uncertainties and provide a sense of financial security.
- Long-term growth potential: Gold has shown the potential for appreciation over the long term. While its price may be short-term fluctuations, Gold has historically demonstrated an upward trajectory. By holding Gold in your IRA, you can benefit from its potential growth over time.
- Protection from systemic risks: Owning physical Gold in your IRA protects against potential systemic risks within the financial system. In a financial crisis or economic collapse, physical Gold can be a tangible and valuable asset that may help safeguard your wealth.
Advantage Gold offers valuable educational resources and a wide range of coins that meet industry standards. It can suit individuals new to investing in precious metals who wish to gain more knowledge.
However, it’s important to note that Advantage Gold is a relatively new company with a limited track record compared to more established competitors.
While Advantage Gold is a legitimate business and not a scam, our research suggests that other companies offer better investment opportunities in the precious metals and IRA space. These companies have earned higher customer ratings and tend to have lower fees and fewer hidden costs.
If you are considering a precious metals IRA or a gold IRA, we recommend exploring our top-rated companies with a strong industry reputation. These companies have a proven track record of providing excellent service, transparent fees and a wide range of investment options.
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