Patriot Gold Group Review

I have consistently prioritized achieving financial security with a special focus on safeguarding retirement funds.

Through my evaluation of Patriot Gold Group, I learned that their IRA services for gold and silver present an excellent opportunity to protect assets while diversifying your portfolio.

Their esteemed position in the precious metals market makes them an attractive choice for potential clients.

Continue reading this article to determine whether Patriot Gold Group meets your financial objectives.

Background Information About Patriot Gold Group

Patriot Gold Group, founded in 1990, operates as a Professional Coin Grading Service (PCGS)-accredited business and holds prestigious membership with the Numismatic Guaranty Corporation, a respected coin grading authority.

Based in Los Angeles, Patriot Gold Group stands as a leading provider of gold IRAs and precious metals services. The company specializes in precious metals IRAs and offers various investment options to meet customer needs.

The company provides comprehensive coordination services and secure storage facilities, making precious metals transactions safe and straightforward for investors.

With over 30 years of experience since opening its doors in 1990, as verified by the Business Consumer Alliance, Patriot Gold Group has maintained excellence in the precious metals industry.

Their commitment to quality service has earned them the prestigious Top Gold Award from Consumer Affairs for six years running.

Professional Leadership

A highly respected leader in wealth management, Chief Executive Officer Jack Hanney leads the organization with more than 20 years of experience as an investment broker at prestigious firms across the United States.

The CEO collaborates with senior partners who bring extensive knowledge in IRA diversification, finance, and portfolio management. The company specializes in helping clients invest in precious metals, particularly focusing on gold investments.

Through Patriot Gold Group, clients have opportunities to invest in metals using both taxable accounts and individual retirement accounts (IRAs).

What Does Patriot Gold Group Do?

Patriot Gold Group specializes in precious metals IRAs, commonly referred to as gold IRAs, and provides comprehensive services for investors looking to buy, sell, and store precious metals as investments.

The company offers direct collaboration with clients, connecting them to Senior Partners who efficiently process new IRA applications within 24 hours.

Their services cater to individuals seeking alternatives to traditional banking systems, Federal Reserve policies, paper currencies, and stock market volatility, empowering them to take charge of their retirement and investment strategies.

Products and Services

Patriot Gold Group enables customers to purchase gold bars and coins for home delivery or placement in precious metal IRAs.

The company website mentions platinum and palladium options, though these metal products were not available at the time of writing.

The company features more than 25 gold coin options, including proof, private, bullion, and IRA-eligible varieties.

IRS regulations specify purity requirements for precious metals held in IRAs, allowing only certified products to qualify for IRA tax benefits. Patriot Gold Group accommodates storage of approved gold coins within their precious metals IRA offerings.

Their product lineup includes gold sales with an extensive selection of coins and bullion, featuring:

• American Gold Eagles
• American Gold Buffalos
• Australian Gold Philharmonics
• South African Gold Krugerrands
• Canadian Gold Maple Leafs
• Royal Canadian Mint Gold Bars

The coins available for purchase come from different countries around the world, which include:

• Austria
• Canada
• South Africa
• United States

Precious Metals IRA

Patriot Gold Group specializes in precious metals IRA accounts, allowing investors to build their retirement portfolio through tax-advantaged gold investments. These accounts provide a secure way to diversify retirement savings.

The company’s dedicated customer service team streamlines the account creation process, making it accessible and straightforward. The complete account setup typically requires a 48-hour processing period.

For new account holders, Patriot Gold Group requires a minimum investment of $25,000. This threshold stands notably higher than many competitors in the market, which might pose a barrier for beginning investors.

Gold Bars

Patriot Gold Group maintains a focused selection of gold bars for investment purposes. Their inventory specifically features 10-ounce gold bars produced by the Royal Canadian Mint, though this specialized focus results in limited product variety.

What Does Setting Up an IRA Account at Patriot Gold Group Involve?

Setting up an IRA account with Patriot Gold Group involves several straightforward steps that make the process efficient and secure:

1. For those who already have a self-directed IRA, transferring to Patriot Gold Group is simple. Contact their phone center to initiate the transfer process. A representative guides you through each step, helping you digitally sign all required documentation.
2. New account registration follows a similar process, starting with a call to a Patriot Gold agent. Clients must complete a registration form on the company website. The company assists with both new IRA accounts and rollovers from existing IRAs.
3. After depositing funds into your IRA account, the company facilitates precious metals purchases and storage. Following IRS guidelines, Patriot Gold Group transfers your physical assets to their secure storage facility after each successful purchase.

Upon account setup, a dedicated manager oversees your transactions and provides investment recommendations. The timing of purchases depends on how quickly your custodian processes fund transfers.

It’s important to research multiple custodians before making a selection if transaction speed is a concern. This allows you to choose the provider with the most efficient transfer process.

Patriot Gold Group guarantees transaction completion within 48 hours after receiving purchase funds. They ship gold bars or coins to your designated storage vault in fully insured packaging.

Plans for Competitive Payments

Patriot Gold Group maintains competitive gold pricing structures. The company offers unique arrangements allowing direct owner communication, which reduces shared costs related to executive compensation and shareholder payments.

Investment Cost

While Patriot Gold Group’s website does not explicitly display investment pricing, research through representative discussions reveals the following cost expectations:

Two primary annual fees apply:

• Custodian management fee.
• Storage and insurance fee.

The company may offer complimentary storage costs for initial years, varying with initial investment amounts. For accounts exceeding $100,000, Patriot Gold Group provides a “No Fee for Life IRA” option.

Here’s the detailed fee structure:

• Accounts under $50,000: First-year fee waived, subsequent annual fee of $180.
• Accounts between $50,000-$99,999: Two-year fee waived, subsequent annual fee of $180.
• Accounts of $100,000 and above: Lifetime fee waiver, $0 annual fee.

Other Fees

Transaction fees, storage costs, and insurance rates vary based on your selected custodian. While Patriot Gold Group maintains preferred partnerships with Strata Trust and Equity Institutional, clients can choose any custodian they prefer.

Custodial fees fluctuate according to service requirements, potentially reaching several hundred dollars. Storage and insurance costs vary based on account balance and chosen service provider.

Pros and Cons of Patriot Gold Group

Pros:

• Investors enjoy equivalent tax advantages and deferrals as traditional IRA holders.
• Account setup process completes within 24 hours.
• Direct access to company partners assists with investment growth decisions.
• Complimentary delivery of high-value precious metals.
• Personal assistance from experienced account managers throughout the process.
• Zero fees for lifetime gold and silver IRA management.
• Superior customer support services.
• Accounts exceeding $100,000 receive fee waivers.
• Substantial positive customer testimonials.
• Comprehensive gold IRA investment guide available at no cost.

Cons:

• Initial investment requirement of $25,000 stands higher than market competitors.
• Portfolio options limited to gold and silver, excluding platinum and palladium.
• Coin pricing information unavailable online, requiring direct contact with representatives.
• Account setup fee of $225 slightly exceeds industry standard.
• Website navigation and information clarity needs improvement in several sections.

Where Does Patriot Gold Group Store My Precious Metals?

Precious metals storage requires careful consideration as these valuable assets need secure protection from theft and damage in well-maintained locations.

Patriot Gold Group offers multiple vault storage solutions for safeguarding metals through partnerships with secure depositories across the country.

The main storage facilities include:

• Brinks Global Services USA
• Delaware Depository
• Texas Depository

The company arranges delivery and storage services at these depositories for a service fee upon customer request. For taxable accounts, Patriot Gold Group allows investors to store metals at their personal residences.

However, IRS guidelines generally restrict IRA holders from storing precious metals from self-directed IRAs at home.

Patriot Gold Group has developed an advanced system that allows investors to maintain IRA metals at their homes while staying compliant with IRS regulations.

Though this option exists, storing metals in an established depository remains the recommended choice, as the company’s alternative method is untested and requires investors to handle storage and security responsibilities independently.

How Can I Monitor My Precious Metals IRA Performance?

Monitoring your portfolio’s performance is essential for any investment, allowing you to adjust your investment strategy and portfolio as needed.

After partnering with Patriot Gold Group, you’ll receive access to an online account from your assigned custodian to track your portfolio’s performance.

The company’s website provides real-time gold and silver pricing charts to help inform your investment decisions.

What Are the Withdrawal Options for My Account?

IRS regulations specify strict withdrawal timelines for IRAs. You must wait until age 59½ before making any withdrawals from the account.

Early withdrawals incur a 10% penalty plus applicable taxes. When eligible, you have two main options for withdrawing from your self-directed IRA:

1. Patriot Gold Group can arrange to transfer your precious metals from storage to your home address. Once received, you have complete control over your gold coins and bars.
2. You can work with your account representative to sell your metals and have the proceeds deposited directly into your bank account. This option proves most convenient when you need immediate access to cash.

Customer Feedback and Evaluations

When selecting a new financial institution for opening an account, it’s essential to ensure you’re partnering with a reputable company that provides reliable customer support.

This consideration becomes crucial when investing in precious metals like gold, as you must trust the organization safeguarding your valuable assets.

Choosing a trustworthy gold IRA agency is particularly important because the precious metals sector often attracts fraudulent activities. Patriot Gold Group stands out as a respected metals dealer with consistent positive customer testimonials.

Reviews indicate that Patriot Gold Group excels at helping clients diversify their portfolios while offering guidance on cost-effective and streamlined solutions. The company provides direct investor pricing without adding extra transaction fees.

New accounts require a one-time setup fee, but storage costs are waived for the initial three years. Registration takes just one day, allowing immediate account activation. Independent watchdogs report overwhelmingly positive client experiences.

Key ratings across platforms include:

• Better Business Bureau (BBB): Clients awarded Patriot Gold Group an A+ rating, highlighting exceptional customer service support.
• ConsumerAffairs: The company maintains a perfect 5-star rating from 1,060 reviews. Positive testimonials dominate, with minimal complaints mainly focusing on transaction costs and coin valuation disputes.
• Trustpilot: Patriot Gold Group receives high praise on this premier review platform. With 30 years of successful operations, the organization demonstrates expertise in precious metals investments, portfolio development, and wealth preservation strategies. Clients consistently rate the company 5/5, confirming its reliability.
• Facebook: Comprehensive evaluation data shows an impressive 4.8-star overall rating.
• Google Reviews: Multiple positive reviews specifically mention the staff’s accommodating nature and efficiency in establishing precious metals IRA accounts.

How Can I Trust Patriot Gold Group Reviews?

The reliability of reviews on ConsumerAffairs comes from a comprehensive verification process involving 1,034 respondents:

1. Each reviewer must provide their address details, confirming their authentic partnership with Patriot Gold Group.
2. Advanced verification software thoroughly checks review authenticity.
3. Dedicated moderators examine every review to ensure quality and legitimacy.

Company’s Social Media Presence

Patriot Gold Group prioritizes customer satisfaction and trust above all. The company maintains active and easily accessible profiles on Twitter, Facebook, and YouTube.

These platforms serve as valuable resources where existing and potential clients can access essential information about market trends, wealth management strategies, and investment insights.

This knowledge empowers users to make timely and well-informed investment decisions that can enhance their financial growth.

Frequently Asked Questions

Q1: Is Patriot Gold Group a legitimate business?

Having extensively reviewed their achievements with ConsumerAffairs, some might question Patriot Gold Group’s legitimacy.

Every company experiences negative reviews, regardless of their service quality. The presence of occasional unfavorable ratings shouldn’t automatically label them as fraudulent. Through consistent performance, this company has established itself as reliable.

Q2: Is it a good idea to open a gold IRA for your retirement?

As previously discussed, many investment assets show significant volatility. Gold prices maintain relative stability and typically demonstrate an upward trend.

A gold IRA serves as an effective shield against inflation. It offers excellent portfolio diversification opportunities for retirement planning. Additionally, it provides a secure method to protect your accumulated savings.

Q3: How does an IRA work for gold?

Individual Retirement Accounts (IRAs) enable investors to hold gold as part of their retirement strategy. These accounts typically maintain gold investments through coins or bullion.

While these accounts carry higher fees compared to traditional or Roth IRAs, they offer unique advantages. Gold IRAs facilitate tax-free transfers or rollovers from existing IRA accounts into gold-based investments.

Q4: Is Patriot Gold Group a good company to buy physical gold?

Many investors associate physical gold primarily with coins. For those sharing this perspective, Patriot Gold Group presents an excellent investment opportunity, offering an impressive selection of gold bullion and coins.

This positioning makes them an attractive choice for physical gold investments. Investors must consider storage solutions after purchasing gold.

The company addresses this concern comprehensively. They provide high-quality, secure vault facilities for bullion storage, offering an alternative to home storage options.

Conclusion

For those considering gold investments, particularly for retirement planning, Patriot Gold Group stands out as an excellent choice.

They facilitate self-directed IRA setup, provide various gold investment options, and offer comprehensive precious metals investment guidance. Their no-fee-for-life program particularly benefits high-value investors.

BEST COMPANY

9.8

Goldco Precious Metals

• Goldco Surpasses $2 Billion in Precious Metals Placements
• Over 6,000 Five-Star Ratings on BBB, Trustpilot, and ConsumerAffairs
• Seven-Time Winer on the Inc. 5000 List

 

VISIT WEBSITE