In today’s world, finding a safe way to keep your money secure is becoming harder. This is where investing in things like gold and silver comes in, which are known for being safe bets over time.
Enter the Bishop Gold Group, a newer company that’s quickly made a name for itself in the business of dealing with precious metals like gold, silver, platinum, and palladium.
Despite being around for just a few years, they’ve built a strong reputation, with many customers coming through recommendations.
In this Bishop Gold Group review, I’ll explore why this company is becoming a top name in the world of precious metal investments and how it helps people feel more secure about their finances.
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I’ve spent much time looking around and compiled a list of my favorite gold IRA companies. I think you’ll probably find one that’s just right for you.
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What is Bishop Gold Group?
Founded on November 30, 2017, in Los Angeles, California, Bishop Gold Group is a company that helps people invest in precious metals like gold.
Bishop Gold Group sells high-quality gold products intended for investment. It doesn’t push people to buy anything.
They want each customer to choose what’s best for them and to feel good about their investments today and in the future. Their customers often praise the company, saying it cares and sticks to its promises.
Every client at Bishop Gold Group is treated like the most important part of the team. The company works hard to focus on each person’s needs and ensure that their investments meet those needs.
Customers feel taken care of here, which is why the company has such great reviews from many people. Since starting in 2017, Bishop Gold Group has become well-known across the United States.
They have been endorsed by famous people like Sean Spicer and Ted Nugent, which helps more people learn about them.
Though these famous endorsements help, the real proof of their good work is what everyday clients say about them all over review websites. It shows that Bishop Gold Group is trusted and values its customers greatly.
Why is Investing with Bishop Gold Group a Good Idea?
Investing with Bishop Gold Group is smart for anyone looking to grow their money with precious metals.
Let’s look at why they are a great choice for your investment:
- They Know Precious Metals Well: The team at Bishop Gold Group has extensive experience and knowledge of gold and silver. They’ve spent years learning and working in this area, so they can help you make good investment choices no matter your situation.
- Lots of Experience: Bishop Gold Group has been around for many years and has helped many people get more from their precious metals investments. On their website, you can read stories from happy clients. They’ve also made strong connections with some of the industry’s best storage places and important people, which helps them help you even more.
- Investment Plans Just for You: They understand that everyone has different goals and needs when it comes to investing in precious metals. That’s why they work with you to create a plan that meets your needs and wants.
- Great at Talking with Clients: Talking and listening well are super important in business. Bishop Gold Group is great at this. They ensure you understand your investment and can always ask questions and get clear answers. They’re also there to help you anytime you need it.
- They Put Clients First: Bishop Gold Group wants you to do well. They work hard to give you the best service and focus on what’s best for you as their client.
If you’re ready to start investing in precious metals and want a group that will protect you, Bishop Gold Group is a great choice.
What Products Does Bishop Gold Group Offer?
At Bishop Gold Group, they’re all about helping you increase your savings with various precious metals. Whether you’re well-versed in investing or just getting your feet wet, they provide choices to match your needs.
They offer everything from gold to silver and even platinum and palladium, each bringing unique benefits to your investment strategy.
Gold
Their store offers a diverse range of gold investment options, focusing on an array of gold coins and bars suitable for different tastes and preferences.
For enthusiasts of gold coins, a series of American gold coins of various weights is available. Each coin proudly displays Lady Liberty on the front and a family of bald eagles on the back, maintaining a high gold purity level of 0.9999 across sizes like 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz.
They also showcase Canadian Gold Coins, including the 1/20 oz and 1/10 oz 2019 Gold Canadian Maple Leaf Coins, which feature Queen Elizabeth II and a sugar maple leaf, with a purity of 0.9999.
In addition to these, they carry an international selection of gold coins from Mexico, Britain, the Netherlands, Australia, and South Africa, each offering unique and culturally significant designs.
Their inventory includes high-quality gold bars from well-known refineries such as PAMP Suisse and Perth Mint.
The bars, available in 1-gram, 2.5-gram, and 5-gram weights, often feature the Roman goddess Fortuna, and all adhere to the same standard of 0.9999 purity.
Silver
They offer a variety of silver coins and bars for sale, ideal for collectors and investors. Their selection continues with American Silver Coins, which feature the 1 oz Silver Rounds.
A popular choice is the American Buffalo Design Coin. This 1-ounce coin shows a Native American’s face on one side and a bison on the other, with a high silver purity of 0.999. They also showcase the 1 oz Silver Canadian Maple Leaf Common Date Coin.
Turning to silver bars, they offer options from 1 oz to 5 oz. The 1 oz bars include designs like the Rectangle Bars eligible for RSP and those with Morgan and Buffalo visuals.
There are also heavier 5 oz bars available with Morgan and Walking Liberty designs, all of which maintain a purity of 0.999 silver.
Platinum
They sell various platinum items, like coins and bars or rounds. One special item they talk about is the American Eagle Platinum Coin.
They also mention that they sell many kinds of platinum bars and rounds. They invite you to contact them for more details about the sizes and prices of these products.
Palladium
They allow you to make your investment mix more varied by offering palladium for sale. One special item is the Canadian Maple Leaf Palladium Coin. You can ask them if you want to know more about the sizes and prices.
They also have many kinds of palladium bars and rounds available. Contact them for more information about these products.
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How to Set Up a Gold IRA Account with Bishop Gold Group
Here’s a clear, step-by-step guide on how to open a gold IRA account with Bishop Gold Group, working with trusted custodians like Kingdom Trust and Strata Trust Company—both highly rated for their service.
Step 1: Move Your Money to a New Custodian
Start by transferring your retirement savings to a new custodian that Bishop Gold Group approves. The company chooses only highly trusted, self-directed custodians, like Kingdom Trust and STRATA Trust Company, ensuring your money is handled safely and following all the IRS rules for precious metals IRAs.
Step 2: Get Help Buying Metals
After your money is transferred, Bishop Gold Group will provide you with all the details about the metals you can buy.
They’ll tell you about current prices, what’s available, and how long it will take to get them. Once you pick what you want to buy, they will send the metals safely to your storage account within 28 days.
Step 3: Store Your Metals Safely
Your metals will be stored in your name at secure locations, such as Brink’s Global Service or Delaware Depository.
These are among the safest in the US. Bishop Gold Group ensures that your investments are insured up to $1 billion for any loss or damage.
Step 4: Keep Track of Your Account
Bishop Gold Group stays connected with you after you set up your IRA, helping you track your investments. You can always ask them questions about your account or investments.
Besides gold, Bishop Gold Group also lets you invest in other metals like silver, which is used widely in industries, and platinum and palladium, which are rare but have many uses in making things like jewelry. The steps to start an IRA with these metals are the same as those for gold.
Each type of metal offers its special benefits, and Bishop Gold Group is ready to help you invest in any of them as easily as you can with gold.
By choosing Bishop Gold Group, you are not just adding different investments to your retirement savings but also working with experts who care about helping you grow and protect your money for the future.
Storage Options
If you’re investing in precious metals with Bishop Gold Group for your IRA, you’ve got great options for keeping your investments safe.
In addition to sending your metals straight to your house, Bishop Gold Group lets you store your assets at two trusted places: Brink’s Global Service and Delaware Depository.
Both of these storage spots are known for keeping your precious metals secure, and they’re insured for a huge amount, giving you peace of mind about your retirement savings.
Brink’s Global Service
Brink’s Global Service has been around since 1859, making it a trusted name for keeping valuables safe. It’s known worldwide for its strong security and has many places around the globe where it keeps precious metals secure.
Delaware Depository
Delaware Depository has been in the business of protecting precious metals since 1999. It’s a safe place with a lot of experience in keeping items like gold and silver secure.
They have strong security and take good care of the precious metals they store. This place’s good work and the careful ways they look after your investments match well with Bishop Gold Group’s goal to look after your retirement funds correctly.
With Bishop Gold Group, picking either Brink’s Global Service or Delaware Depository means you’re choosing a safe and professional way to keep your precious metals secure.
Customer Reviews and Ratings for Bishop Gold Group
When thinking about working with Bishop Gold Group, it’s good to see what others have said about them.
Let’s look at the customer reviews and ratings on different websites:
- BBB (Better Business Bureau): Bishop Gold Group has an excellent A+ grade and a full 5/5 score from 11 reviews on BBB. This shows they really listen to their customers and run their business well.
- Trustpilot: They have a great score of 4.8/5 from 51 reviews on Trustpilot. This high rating from many customers shows that people are mostly happy with their services.
- Yelp: With a 4/5 rating from 7 reviews on Yelp, it looks like most customers had a good experience with them, even though there are fewer reviews here.
- Glassdoor: Employees have rated the company 4.3/5 on Glassdoor, from 54 reviews. Also, 75% of them would suggest working there to a friend. This suggests a happy workplace, which often means good service for customers, too.
Most customers are happy with Bishop Gold Group, especially with Beau’s help. They enjoyed buying gold and silver because the staff are friendly and know a lot.
People say the prices are good and that it’s easy to buy from them. Beau is also liked for being nice and having interesting stories.
But, one person warns us to be careful. They didn’t trust a call from someone who didn’t seem professional and tried to deal with retirement money without a license.
Does Bishop Gold Group Have Any Lawsuits?
Yes, Bishop Gold Group has been involved in several legal cases. Here are three important ones:
1. Paul Stone vs. Bishop Gold Group, LLC:
Paul Stone sued the company on November 18, 2022, for issues related to work conditions. This case, handled by Judge Teresa A. Beaudet in Los Angeles Superior Court, has been resolved.
2. Melissa Merlos et al. vs. Bishop Gold Group, LLC:
On March 3, 2022, Melissa Merlos and others sued the company for problems like unfair firing and not paying proper wages. Judge Rupert A. Byrdsong dealt with this case, which also took place in Los Angeles Superior Court.
3. Pitts vs. Bishop Gold Group LLC:
This case started on March 25, 2024, because of unwanted phone calls and messages, breaking federal rules. It’s still open in the U.S. District Court for the Northern District of Florida, with judges M. Casey Rodgers and Hope T. Cannon.
These legal issues are important for anyone thinking about investing in Bishop Gold Group.
Pros and Cons of Bishop Gold Group
Let’s take a simple look at the pros and cons of getting involved with them.
Pros:
- Expert Staff and Free Advice: Bishop Gold Group has a team with lots of experience in precious metals and money planning. They offer free advice to help people make smart investment choices.
- Works with Trusted Companies: The company connects with other trusted companies in America, making it easier for investors to find everything they need in one place.
- Friendly Customer Support: Bishop Gold Group is known for its great customer service. They are quick to help and make their clients feel like friends.
- Many Investment Choices: They have a broad selection of precious metals like coins and bars, and you can also choose to invest in things like ETFs and mutual funds if you want.
- Good Reviews and Quick Growth: The company has grown fast and has received a lot of good feedback online. Customers like that the sales team isn’t too pushy.
Cons:
- Smaller Size and Complicated IRA Steps: Being a smaller company might make it harder for Bishop Gold Group to offer as much as bigger ones. Also, setting up an IRA with them can be a bit complicated, and you’ll have to handle some of the steps yourself.
- No Online Shopping and Hidden Costs: You can’t buy directly from an online store, and the company doesn’t clearly state all of its fees and costs upfront, making it difficult to know exactly what you’re paying for.
Going with Bishop Gold Group could be a smart move for folks interested in precious metals, but it’s important to consider both the upsides and the potential downsides before making a choice.
Is Bishop Gold Group a Legitimate Company?
Bishop Gold Group is known as one of the most respected gold IRA firms for its work with precious metals and helping people invest their money.
Big name websites like Forbes, MarketWatch, Business Insider, and Bloomberg have talked about this company, which usually means it’s a trusted place to consider for your investments.
However, it’s also true that there have been some legal issues, with lawsuits being filed against the company. Lawsuits can be a warning sign, but they don’t always mean a company isn’t good.
If you’re thinking about investing with them, make sure you look into everything carefully. Always do your homework before you decide where to put your money.
Conclusion
In conclusion, the Bishop Gold Group has established itself as a reputable firm in the precious metals industry.
Their dedication to customer service, comprehensive investment options, and educational resources empower investors to make informed decisions for their portfolios.
The company’s commitment to transparency and client satisfaction resonates in the positive feedback received from its users.
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