Patriot Gold Group – The Truth Exposed

Pricing from Patriot Gold Group

One of the major benefits of working with Patriot Gold Group is they offer investor direct pricing to their customers. Certain dealers tack on a percentage to their fee when selling precious metals to their customers. Not Patriot Gold. They charge their customers with a $225 setup fee that they only have to pay one time in the beginning. But if you invest $30,000 or more initially, this $225 setup fee is waived.

The company also waives 1-3 years’ worth of storage fees and the $260 rollover fee during the first year if you qualify. Lastly, if you have a $250,000 account or more, you will never pay an IRA fee for the duration as an account holder.

Storage facilities and IRA custodians charge their own separate fees. This is a totally separate thing from the fees charged by Patriot Gold Group. Make sure you confirm storage and custodian fees ahead of time before opening your account.

You’ll also have to pay the custodian annual fees for insurance and storage. This fee all depends on the amount of value in your account or how much you transfer. This company is willing to work with any custodian, but they have a well-established relationship with STRATA Trust and Equity Institutional, which are the companies they recommend. We share some of their differing fees with you below.

As far as other custodians are concerned, their prices range anywhere from $5 all away up to $250 including document processing, account closures, wire transfers, and distribution fees.

Gold IRA Costs & Fees

• Account minimum – $15,000
• Account Setup Fee – free for accounts over $30,000 or $225 for accounts that do not qualify
• Transaction fees – STRATA charges $40 and shipping fees. Other custodians might charge more or less
• Insurance & storage fees – $180 from Equity Institutional and $150 from STRATA Trust
• Available precious metals – gold, silver, platinum, and palladium coins and bullion
• Operating hours – 7:30 AM to 5:30 PM Pacific Standard Time Monday through Friday

Recommended Precious Metals IRA Investments from Patriot Gold Group

Customers receive access to a wide range of products to purchase. Some of the precious metals that they sell are not suitable for a gold IRA. Gold IRA accounts can contain gold, silver, platinum, and palladium based on the specifications below:

• Gold purity level = 0.995
• Silver purity level = 0.999
• Platinum purity level = 0.9995
• Palladium purity level = 0.9995

This company focused on selling IRA approved coins including bullion coins and bars, as well as other precious metals. Like most brokers in this space, Patriot Gold Group sells many different types of precious metals. Some of their products do not meet the regulations and requirements for a precious metals IRA, so you should definitely keep this in mind before making your final purchases.

Opening a Gold IRA Account with Patriot Gold Group

Do you already have your very own gold IRA account in existence? Contact Patriot Gold Group anyway if you’re looking to make an account transfer to put it in their control. This firm provides full service assistance. They will provide e-documents to sign and you can initiate the entire transfer process right over the phone and internet. Expect your account to be opened within 24 hours. New account set up is pretty similar to the transfer process, except you can start filling out the online application prior to calling an account specialist for help.

PGG is ready to assist you from the very beginning with opening a brand-new precious metals IRA account or rolling over an eligible account from a previous or current employer. After you pay the account initiation fees, along with funding and creating your account, you can start buying gold, silver, and platinum or palladium directly through Patriot Gold Group.

(I didn’t put them in my top three gold ira companies, mainly because I have a lot more inside info on the three I review in the hyper link.)

Remember, starting the purchasing process as quickly as possible can only happen as quickly as your previous account representative or custodian transfers your funds. Contact all IRA custodians prior to choosing one to find out about transfer timeframes and other important information. Once you buy precious metals, your order is directly shipped to the storage company according to rules and regulations put forth by the IRS.

Customer Complaints about Patriot Gold Group

Halt Gold Group is the parent company of Patriot Gold Group. The parent company has an A+ rating with the BBB, although Patriot Gold isn’t rated directly themselves. Consumer Affairs gives Patriot Gold Group a 5-star rating and out of 128 reviews, only a few of them are complaints. The bulk of these minor complaints regard coin value disputes and transaction fee costs. Their reviews from Facebook amount to 4.4 out of 5 stars, and previous customers have left positive Google reviews about how patient customer service reps were when explaining the gold IRA process to new potential customers.

Patriot Gold Group FAQ

• Do I have to purchase precious metal bars or can I buy precious metals coins as well? You can buy coins, but not every gold, silver, platinum, or palladium coin is approved for a silver IRA. Make sure the coins that you buy have received IRS approval. Remember to ask your Patriot Gold Group representative about this during the bullion bars and coins buying process to make sure you stick within IRS guidelines.
• Is it possible to choose my own self-directed IRA custodian? Or am I forced to use the recommended company provided by Patriot Gold Group? As long as they’re approved by the IRS,Patriot Gold Group is willing to work with any IRA custodian located in the US. But they also mention that they have strong working relationships with Equity Institutional and STRATA Trust Company and highly recommend them. These companies are their favorite IRA custodian choices for self-directed IRAs.
• Is it possible to choose my own storage company? Or am I forced to use the recommended storage company from Patriot Gold Group?You must use the vault storage companies that Patriot Gold Group already work with. Have no fear, because they work hand-in-hand with two of the best companies in the business name Brinks Global Services and Delaware Depository Service Company. Patriot Gold will help you set up your vault storage account during the account creation process.
• Am I allowed to store my precious metals in a safe at home? According to the rules and regulations set forth by the IRS, you are not allowed to hold IRA investment level precious metals in a personal safe or security box at home or in your bank. Your precious metals must be stored with an IRA approved storage facility because they have to follow strict guidelines regarding precious metals. The guidelines are there to keep investors protected. This ensures that after you purchase your precious metals, you’ll receive the exact metals that you bought during the distribution or liquidation process. You’re restricted from gaining access to your precious metals because the IRS must know that your deposits are safe and sound and exactly where they’re supposed to be. You can keep non-IRA related precious metals at home but that’s about it.
• Are the precious metals purchased through a gold IRA account guaranteed? No, this is an investment that will fluctuate every day since gold, silver, platinum, and palladium trade roughly 23 hours a day. No one can lock in a price forever and your future price is not guaranteed. As an example, if you bought gold in 2008, it gained significant value by 2020. Within that timeframe, there was a major downswing in price although it has bounced back quite a bit since then. Consider the long-term approach because that’s the best way to guarantee that your investments continue to accrue value.

Final Thoughts

Patriot Gold Group provides a wide array of assistance to brand-new precious metals IRA customers looking to diversify their investments. These assets provide customers with a different option other than traditional investments. And a self-directed IRA account offers tax benefits that you will not receive with other investments.

Patriot Gold Group offers valuable services for their customers. These services save them time and money. With over 30 years of experience in this industry, they’re ready to handle all electronic tracking, paperwork, and go-between work with the custodian and the storage facility on your behalf.

Other Gold IRA Companies:

• Paradigm Gold Group Review
• Premier Coin Galleries Review