In a heartbeat, my retirement account vanished as stocks crashed—yet again. That’s when I found Monetary Gold, a 20-year veteran in precious metals.
In this no-holds-barred review, I’m ripping off the mask to show you their actual fees, customer experiences, and if they’re worth your hard-earned cash or just another waste of my savings.
- Founder: Keith Weiner
- Location: Los Angeles, CA
- BBB Rating: 5/5 Ratings from 22 Customer Reviews
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Table of Contents
What is Monetary Gold?
Monetary Gold stands as a specialized company offering Individual Retirement Accounts (IRAs) focused on precious metals, commonly known as gold IRAs.
Since its establishment in 2000, the company has grown significantly, earning recognition as a leading provider of gold retirement funds.
Despite the highly competitive nature of the precious metals industry, Monetary Gold maintains an advantage through its position as a direct dealer.
Many companies in the precious metals IRA sector simply act as intermediaries, facilitating transactions between dealers and investors.
This intermediary approach typically results in higher precious metal prices, which ultimately increases costs for investors.
As a direct dealer, Monetary Gold secures favorable pricing and passes these cost benefits directly to their customers.
The company deals extensively in precious metals, including gold, palladium, and platinum bullion and coins. Monetary Gold also offers various investment options such as foreign coins and additional precious metal products.
The company enhances its IRA value by including semi-numismatic coins, which are widely regarded as premier investment assets in the precious metals sector.
For those interested in establishing a precious metals IRA or opening an account with Monetary Gold, additional information will be provided in subsequent sections.
Company Leadership
The ownership details of Monetary Gold remain private, though the company operates from its base in California, United States.
The company’s primary point of contact is partner Ms. Andrea Powers, who serves as the designated business representative.
What Makes Monetary Gold Stand Out?
Among numerous gold IRA companies available today, Monetary Gold distinguishes itself through unique features.
I have identified two key factors that make this company a compelling choice for investors seeking reliable gold IRA services.
1. Expert and Dedicated Team
Monetary Gold maintains a fully-staffed IRA department ready to address any inquiries or concerns. The team has earned recognition through numerous positive customer testimonials, highlighting their exceptional service.
The office operates Monday through Thursday from 6:00 AM to 4:30 PM, with shorter hours on Friday, closing at 2:00 PM.
While these early operating hours might seem unusual, they make perfect sense considering the company’s West Coast location.
This strategic scheduling allows customers nationwide to reach them during standard business hours. These hours align perfectly with the New York Stock Exchange trading window of 9:30 AM to 4 PM Eastern Time.
The combination of dedicated staff and convenient hours ensures a smooth and enjoyable customer experience. The team’s helpful and friendly approach enhances client satisfaction significantly.
2. Educational Workshops
The company offers complimentary monthly workshops open to both existing clients and interested individuals.
These seminars cover essential topics for precious metal investors, providing valuable insights particularly beneficial for those exploring IRAs or considering the company’s services.
Workshop participants can gain comprehensive knowledge about various subjects, including central bank policies, inflation trends, and precious metal IRA operations.
These sessions offer excellent opportunities to interact with Monetary Gold experts and receive answers to specific questions, all at no cost.
3. Custodial and Storage Solutions
Investing in precious metals like gold and silver requires secure storage solutions, which Monetary Gold efficiently provides through its partnership with Goldstar Trust, a third-party custodian.
The Delaware Depository handles all precious metals acquired through the company, offering both segregated and non-segregated storage options. This facility carries insurance from Lloyd’s of London, a globally renowned insurance provider.
For investors interested in international storage, the Delaware Depository provides access to facilities through Via MAT International in Zurich and Bank of Nova Scotia in Toronto, Canada, expanding storage options beyond domestic locations.
Pros and Cons of Monetary Gold
Monetary Gold provides many benefits for precious metal investors, yet like any service, it comes with certain limitations.
Here are the advantages and disadvantages of choosing Monetary Gold’s IRA services:
Pros:
- Extensive selection of gold-related products and services.
- Professional team offering valuable guidance and support.
- Strong track record of customer satisfaction.
- Market-competitive rates and pricing options.
- Simple gold IRA setup process compared to competitors.
- High industry ratings – BBB Accredited with A+ rating.
- Coverage of custodial fees up to five years for qualifying customers.
- Low minimum investment requirement of $5,000.
Cons:
- Risk factors linked to self-directed IRA storage.
- Limited investment options for platinum and palladium products.
How to Get Started with Monetary Gold
Starting an account with Monetary Gold is a straightforward process that offers multiple ways to begin investing.
The company provides a simple registration form on their website for new customers who are ready to start immediately.
For those seeking guidance before making investment decisions, Monetary Gold offers personalized consultation options.
Their experienced precious metal professionals are available through the website to guide you through each step and address any concerns you might have.
The account setup process typically requires 48 to 72 hours to complete. Once established, you will receive a gold IRA form that needs your attention and completion.
The next step involves either making a direct contribution to your gold IRA or transferring funds from an existing IRA or 401(k) plan.
After your Monetary Gold IRA account is fully funded and operational, you can proceed with purchasing precious metals. This requires completing a purchase order form before arranging delivery to the designated depository.
Throughout this process, your dedicated IRA specialist at Monetary Gold collaborates with you to identify the most suitable coins and bullion options that align with your investment goals and account specifications.
What Types of Precious Metals Does Monetary Gold Offer?
Monetary Gold presents you with opportunities to invest in precious metals through three main categories:
- Bullion: Bullion encompasses both bars and government-minted coins. Market demand determines the prices, and these bullion trade at prices closely aligned with spot market rates.
- Semi-Numismatics: Semi-Numismatic items feature prices ranging from premium rates for certified-graded coins to minimal values for bullion. Since production has ceased, these items remain susceptible to market price fluctuations.
- Certified and Graded Coins: Certified and Graded Coins command values exceeding their spot prices, making them attractive to coin collectors. These coins have historically shown better performance than bullion during market downturns.
All Monetary Gold products are backed by physical silver and gold holdings. The company takes pride in maintaining superior customer service standards within the industry and continuously strives to uphold this reputation. Monetary Gold maintains constant availability for customer support.
Monetary Gold stands out for several key features, particularly its transparent pricing structure. They exclusively offer direct-to-buyer prices, eliminating intermediary costs.
Additionally, they regularly provide you with cost-saving opportunities through various discounts and promotional offers applicable to all purchases.
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Fees
Opening an IRA account with Monetary Gold comes without any initial charges. However, you must meet specific minimum investment requirements.
Investment thresholds vary between $5,000 and $10,000, primarily based on your selected IRA custodian. The good news is that you can avoid early withdrawal penalties.
Since the process involves transferring funds between custodians, the Internal Revenue Service classifies it as a transfer transaction.
For precious metals storage through the Delaware Depository service by Monetary Gold, clients pay an annual fee of $100.
This fee covers storage for assets valued up to $100,000. The package includes secure storage facilities and comprehensive insurance coverage.
Expect a small markup on precious metal purchases, which is standard practice throughout the industry. As a direct dealer, Monetary Gold maintains lower markup rates compared to industry competitors.
Frequently Asked Questions
Q1: Should I trust Monetary Gold?
Monetary Gold has built a strong reputation over 20 years, earning consistent customer satisfaction.
The company maintains an A+ rating from the Better Business Bureau and holds accreditation. Their excellent ratings extend to TrustLink and BCA reviews.
You appreciate the unique off-market investment opportunities that Monetary Gold provides. You can benefit from precious metal price fluctuations while maintaining financial security.
Q2: Should I consider investing in Monetary Gold?
Consider investing if you match these criteria:
- You seek gold as an inflation hedge or value storage.
- You’re focused on long-term investment gains from gold’s upward price trends.
- You accept higher uncertainty compared to traditional investments while seeking steady returns.
- You have moderate risk tolerance and prefer lower volatility investments with regular dividend or interest income.
Final Thoughts
This comprehensive review addresses key questions about gold IRAs and Monetary Gold, offering an unbiased assessment of their operations.
Monetary Gold demonstrates unwavering commitment to delivering exceptional customer service. They enhance their precious metals offerings with complimentary worldwide shipping services.
Their focus remains on providing premium investment services during every interaction. When selecting a gold IRA provider, careful consideration is essential.
Monetary Gold stands ready to support your investment journey, offering expert services designed to maximize returns and secure your financial future.
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