Do you know why more and more people are turning to precious metals investing? This practice has gained huge popularity because it offers many benefits. If we want to diversify our portfolio, it’s a secure way to do it without putting our hard-earned money at risk.
Additionally, gold and other precious metals can protect our portfolio against inflation and other negative events that can affect our investments.
As the value of precious metals tends to increase over time, investing in gold, silver, platinum, or palladium might also provide a significant return.
However, we should look for the right precious metals dealer before entering this world. How can we find a reputable one?
While researching the market, I heard about AmeriGold, so I decided to look for more information about this precious metals company and wrote this review to help other people discover if it’s the right choice for their investments.
Do you want to know more about this company? This AmeriGold review has all the information you need. Read on!
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Introduction to AmeriGold
I’ll explain everything I know about AmeriGold’s products and services, but let’s learn a little more about this precious metals company first.
Summary
Essentially, AmeriGold focuses on selling precious metals, specifically gold, silver, platinum, and palladium. The company offers bullion bars and coins, including some assets we can hold in an individual retirement account (IRA). Its product selection also includes numismatic and world coins.
However, AmeriGold offers other services for those interested in this type of investment. The company guides us through the process of creating gold IRAs, for example.
A representative from the company can help us set up, fund, and stock a self-directed precious metals IRA, which is an excellent way to protect our retirement savings.
AmeriGold claims that it works with reputable gold IRA custodians. However, although the staff is available to help us choose the best option according to our needs and particular situation, there’s no information about this on the company’s website.
AmeriGold’s History
This company was founded in 1998 in Denver, Colorado, as a precious metals dealer offering bullion bars, coins, and numismatics products.
Since it was founded, AmeriGold has offered a wide variety of precious metals products and advice. Additionally, the company has a customer referral program and expanded its services to help those who need assistance setting up a retirement plan.
Other Things We Should Know About AmeriGold
Besides reviewing the company’s history and products, I also took a look at AmeriGold ratings on different platforms and read dozens of reviews from previous customers.
The information I found is really valuable. AmeriGold has been awarded an A+ rating by the Better Business Bureau (BBB). However, there are no reviews or complaints about this company on the BBB website.
Additionally, AmeriGold is a member of the Industry Council on Tangible Assets (ICTA), demonstrating that this company is committed to following the highest ethical and professional standards.
AmeriGold’s Management
Greg McCoach founded AmeriGold and serves as the president of this company. He’s a seasoned entrepreneur with over 16 years of experience in the industry who became famous after an accurate prediction.
This entrepreneur predicted that the price of gold would reach $1,000 per ounce in 2007, just months before the 2008 financial crisis.
The “About Us” page of the company’s website also mentions J. Paul Getty, saying that Greg founded AmeriGold based on the “contrarian” investing principles he learned while reading his autobiography.
McCoach was impressed by Getty’s life story. Plus, he read something that he never forgot, which led him to found a precious metals company: “If you want to make really big money with investing, you have to invest in things that nobody is interested in and hold until everyone is buying.“
AmeriGold Contact Details
- Address: 19627 E Fair Dr, Centennial, CO 80016-3864
- Website: http://www.amerigold.com/
- Local Phone: (720) 870-8021
- Toll-Free Phone: 1-800-574-0047
- Email: amerigold@msn.com
- Fax: 720-870-8022
Precious Metals Products that AmeriGold Offers
AmeriGold offers many options for those interested in investing in precious metals. When I first approached this company’s representatives, I wanted to buy physical gold, and I found many products!
These are the most common:
- American Gold Eagles
- Canadian Gold Maple Leaf
- American Gold Buffalo
- Australian Gold Nuggets
- Austrian Gold Philharmonic
- Accredited gold bars with a 0.995 purity level
In addition to gold, this company offers silver bullion coins and other products, including the following:
- American Silver Eagle
- Austrian Silver Philharmonic
- Canadian Silver Maple Leaf
- Accredited bars
If you prefer platinum or palladium, which I also added to my investment portfolio, AmeriGold also has some options, such as:
- American Platinum Eagle
- Australian Platinum Koala
- Canadian Platinum Maple Leaf
- Palladium bars
AmeriGold is an authorized dealer of products issued by the government or worldwide precious metals bar fabricators.
Buying Precious Metals from AmeriGold
One of the things I like the most about AmeriGold is that this company makes it easy to buy precious metals. When I want to save time, I just call the dealer directly to make the purchase. After that, I just have to set up my shipment.
However, we can also purchase our precious metals through the AmeriGold website.
To make an online purchase, I just browse the website and choose the type and quantity of products I want to buy. If I want to lock in prices, I must request this from a representative. Fortunately, AmeriGold’s staff is always available to offer prompt customer service.
Since precious metals’ prices are based on the current market value, we have three days to complete the purchase after the representative from the company locks in the price.
Once we accept the offer, the representative provides an order number. We have to do the wire transfer in order to schedule the shipment. Unfortunately, this is the only payment method available.
Minimum Purchase Requirements and Fees
We have to keep in mind that AmeriGold has a minimum purchase requirement. If we want to invest in precious metals, we have to buy at least $5,000 worth of products. This also applies to gold IRAs.
Plus, we’re responsible for the payment, so we should make sure it arrives before the three-day deadline ends and the offer expires.
AmeriGold also charges additional fees if we want to cancel an order and sets penalties if the precious metals we chose lose value during the transaction term. This means that we’re at risk of losing part of our money due to penalties and market-related issues from the first moment we try to buy gold, silver, platinum, or palladium from this company.
This precious metals dealer is honest about its pricing scheme and purchasing system. Additionally, the company provides its bank account information as soon as you try to purchase its products.
However, AmeriGold may refuse our purchase if there are issues or delays with payment. Also, users with a history of payment issues may be prohibited from attempting to purchase precious metals from this company again.
Discounts on Purchases
Although the minimum requirements are high, and the purchasing process is strict, AmeriGold offers discounts to help customers save.
However, the company doesn’t offer clear information on this. The only thing I could find on the website is that the most significant discount is available for larger orders.
Does AmeriGold Offer Discreet Packaging and Guarantee Safety?
I’ll be honest. I wasn’t sure about investing in physical gold bullion when I first read about it. I was worried! I know the biggest problem with valuable tangible assets is that the risk of loss is too high.
These types of products are vulnerable to accidents, theft, and other events that can affect our investments. Therefore, we should always choose a reputable company willing to offer enhanced security.
In this regard, AmeriGold offers discreet packaging for all orders. Additionally, when it comes to shipping, the company uses UPS, FedEx, or the US postal service.
Overall, the dealer chooses the shipping method according to the type and quantity of products we purchase. We’ll receive a tracking number after completing the process, and we can expect our orders to arrive in just five business days or less.
With AmeriGold, we can buy precious metals outright, which means we won’t need to set up a depository account. It’s only necessary if we decide to store our products through these organizations.
Besides tracking shipments, this company insures all packages, reducing the risk of financial losses due to common hazards. If the package is lost or stolen, we can file a claim with an insurance company that will investigate what happened to the shipment and provide a solution according to our case.
Should I Pay Taxes If I Buy Precious Metals from AmeriGold?
This was one of the main questions I had when I purchased precious metals from AmeriGold for the first time.
We have to pay taxes on every gold purchase we make, even if we open and use a gold IRA.
This company taxes the total purchase price according to the Denver taxing system. However, we may be required to pay taxes for our state upon receiving the package.
AmeriGold can assist customers with their tax payment management. Actually, I had to ask a company representative for help with my first purchase.
However, if we’re subject to local tax requirements and need help managing payments to our local Internal Revenue Service (IRS) office, we must request this service!
How to Report Our Precious Metals Purchase to the US Government
The Patriot Act states that all precious metals dealers, including AmeriGold, are required to report any purchase over $10,000 to the IRS.
That’s why I recommend that potential precious metals investors discuss their purchases’ tax implications with their financial advisors and calculate how much they should pay in taxes before purchasing these products.
Because these tax requirements are strict, AmeriGold only ships gold and other precious metals within the US.
Can I Sell Precious Metals to AmeriGold?
AmeriGold also buys precious metals. If we want to sell our gold, silver, platinum, or palladium products, we have to contact the company through their toll-free number.
Once a representative from AmeriGold answers our call, we have to talk to them about the products we want to sell. If we already have an account with this dealer, they can review the precious metals we hold. This process is so easy.
However, things are slightly different if we want to sell metals that we bought elsewhere. In that case, representatives from AmeriGold should inspect our products and provide a quote accordingly.
It’s important to provide information about where and how we purchased those precious metals before scheduling the shipment.
How Much Will AmeriGold Pay for My Precious Metals?
This precious metals dealer offers buyback quotes based on the products’ current market price. If we agree to the offer, the company representative provides us with a purchase order number.
After that, we’re responsible for shipping our products to the depository according to the instructions provided by AmeriGold’s staff members.
We can only ship precious metals through the PO box number that the company provides, so we have to add the purchase order number that we received before to the package.
Inspection occurs once AmeriGold receives the package with our precious metals, as these products must be assessed and weighed correctly.
The company will send the payment within 24 hours after the arrival of the precious metals. We can choose between a check that will be sent by mail or a wire transfer to our bank account.
I always check the current market prices of the precious metals I want to sell before accepting an offer. We should understand that we aren’t required to accept the first one. If we believe that it doesn’t match the current value of our assets, we can refuse it and keep our items.
After receiving the offer to sell our products, we have up to seven days to cancel the buyback. However, it’s crucial to know that AmeriGold requires customers to sign stipulations in the contract, so we have to cover any financial losses the company experiences during this period.
We can also discuss a trade-in with the customer service representative if we’re still deciding whether to sell our precious metals. This option allows us to trade our gold, silver, platinum, and palladium assets for other products of the same value.
However, it’s also important to know our tax liabilities related to a trade-in before considering this option.
Can We Sell Precious Metals to AmeriGold in Person?
If we’re in Denver, we can sell our precious metals to AmeriGold in person. However, in that case, we first have to schedule an appointment with a representative from the company to discuss the purchase.
Pros and Cons of AmeriGold
Selling and purchasing precious metals is a big deal, so we should choose a reliable dealer.
I’ll list the pros and cons of AmeriGold to help you determine if it’s a trustworthy precious metals company, so you can make an informed decision.
Pros
- Founded by an industry expert over 25 years ago
- Excellent rating from Better Business Bureau (BBB)
- Transparency regarding its pricing structure and purchase requirements
Cons
- Lack of information about gold IRA eligibility on the company’s website
- Premiums above the average and potential penalties or additional fees
- Minimum purchase required for each order
Final Thoughts
AmeriGold is a recognized precious metals dealer in the market, but we have to analyze several things before choosing this company.
Whether we need to sell or buy gold, silver, platinum, or palladium, AmeriGold offers many benefits. However, there are also several drawbacks, such as high minimum requirements for purchases and potential penalties when selling our items. If we have doubts about this dealer, we can consider other options or ask our trusted financial advisor for guidance.
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About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He started IRA Investing to share his expertise in using his Self-Directed IRA for alternative investments. His views on retirement investing have been highlighted in USA Today, Business Insider, Tech Times, and more. He invested with Goldco.
