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Last Updated on December 23, 2023

Investing in precious metals like gold and silver has been a time-honored method of preserving wealth and hedging against inflation.

A reputable and reliable partner is essential when navigating the precious metals market, and Monetary Gold is one such company that is often considered.

This article aims to provide an in-depth review of Monetary Gold, outlining its product offerings, how its IRAs work, costs, reviews, and more.

This comprehensive review will equip you with the necessary information to determine if Monetary Gold is the right choice for your precious metals investing needs.

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What is Monetary Gold?

Monetary Gold is a full-service precious metals dealer based in the United States. The company specializes in offering gold and silver coins, bars, and other precious metal products. In addition to its traditional precious metals dealership, Monetary Gold also provides Gold IRAs, allowing investors to hold physical gold and other precious metals within a self-directed IRA framework. The company prides itself on providing education and customer service to help investors make informed decisions about their investments.

Monetary Gold Products

Monetary Gold offers a robust selection of precious metals products for its customers. Their products fall into four major categories: gold, silver, platinum, and palladium. Let’s take a closer look at these offerings:

Gold

Gold has been the go-to precious metal for investors due to its long-standing value and appeal. Monetary Gold offers a variety of gold products to cater to the diverse needs of its clientele. Their offerings include:

  1. Gold Bullion Coins: These are high-purity gold coins produced by different national mints. They include renowned options such as American Gold Eagles, Canadian Gold Maples, Australian Gold Kangaroos, and South African Krugerrands, among others.
  2. Gold Bars: Monetary Gold offers gold bars in various sizes and weights. These bars are manufactured by reputable mints and refineries around the world and come with an assurance of purity and quality.
  3. Pre-1933 Gold Coins: For collectors and investors interested in numismatic coins, Monetary Gold offers pre-1933 U.S. gold coins. These coins carry historical significance and can command value above and beyond their intrinsic gold content due to their rarity and demand among collectors.

Silver

For those looking for a more affordable entry into precious metals investing, silver is a popular choice. Monetary Gold offers:

  1. Silver Bullion Coins: Similar to gold bullion coins, these are high-purity silver coins minted by governments around the world. Examples include American Silver Eagles, Canadian Silver Maples, and more.
  2. Silver Bars: Monetary Gold provides silver bars in a range of sizes, from 1-ounce bars suitable for smaller investors, up to larger 100-ounce bars for more substantial investments.
  3. Junk Silver: Pre-1965 U.S. coins composed of 90% silver are often referred to as “junk silver.” Despite the name, these coins are far from junk and can be a cost-effective way to invest in silver.

Platinum

Platinum is a highly valued precious metal often used in automotive and jewelry industries. Monetary Gold’s offerings include:

  1. Platinum Bullion Coins: These are coins minted by national governments containing a high purity of platinum. Examples include the American Platinum Eagle and the Canadian Platinum Maple.
  2. Platinum Bars: Monetary Gold also offers platinum bars from various global mints in a range of weights to suit different investment needs.

Palladium

Palladium, a sister metal to platinum, is an increasingly popular investment choice due to its use in various industrial applications. Monetary Gold provides:

  1. Palladium Bullion Coins: The company offers palladium coins such as the American Palladium Eagle, one of the few palladium coins produced by a government mint.
  2. Palladium Bars: Similar to other precious metals, Monetary Gold also sells palladium bars in various weights.

Monetary Gold offers a comprehensive suite of products catering to the diverse needs of precious metals investors. Whether you’re interested in gold, silver, platinum, or palladium, Monetary Gold has numerous options to help you diversify your portfolio.

Monetary Gold IRA

an offer of free silver from Goldco

offers a way for individuals to diversify their retirement savings by adding physical precious metals to their portfolio. This section elaborates on the details of a Monetary Gold IRA and how it functions.

How it Works

A Monetary Gold IRA is a specific type of Self-Directed IRA that allows for the inclusion of physical gold and other precious metals as part of your retirement plan. Unlike traditional IRAs that typically involve stocks, bonds, and mutual funds, a Gold IRA permits the holding of physical precious metals, providing a tangible asset within your retirement savings.

The physical gold or other precious metals you purchase through Monetary Gold for your IRA are stored in a secure depository approved by the Internal Revenue Service (IRS). These depositories employ state-of-the-art security measures to ensure the safety of your investment.

Investments within a Gold IRA function similarly to traditional IRAs. The value of your account will fluctuate based on the market price of the precious metals within it. When you reach the age of 59 ½, you may start taking distributions from your Gold IRA, either in the form of physical precious metals or cash equivalent.

How to Get Started

Starting a Gold IRA with Monetary Gold involves a straightforward process:

  1. Setting up the IRA: The first step involves setting up a Self-Directed IRA account. Monetary Gold works with several IRA custodians and can help you select one that best suits your needs.
  2. Funding the IRA: After your account is set up, you can fund it by making a contribution, transferring funds from an existing IRA, or rolling over funds from a 401(k) or similar retirement plan.
  3. Selecting your precious metals: Once your account is funded, you can select the precious metals you wish to include. Monetary Gold offers a range of IRA-eligible gold, silver, platinum, and palladium products.

IRA-Approved Precious Metals

The IRS has specific regulations regarding the types of precious metals that can be included in a Gold IRA. These must meet certain fineness requirements. For gold, the fineness must be 0.995 or higher; for silver, 0.999; and for platinum and palladium, 0.9995.

Eligible precious metal products include, but are not limited to, American Gold and Silver Eagles, Canadian Gold and Silver Maple Leafs, and various gold, silver, platinum, and palladium bars and rounds produced by a NYMEX or COMEX-approved refiner or national government mint.

It’s crucial to note that collectibles, including certain types of gold and silver coins, are not permitted in a Gold IRA. Monetary Gold can provide guidance on which precious metals are eligible for inclusion in your IRA.

In conclusion, a Monetary Gold IRA can provide a valuable tool for diversifying your retirement savings and protecting against economic uncertainty. With its focus on customer education and service, Monetary Gold aims to make the process of setting up and managing a Gold IRA as straightforward as possible.

Monetary Gold IRA Costs & Fees

The costs of a Monetary Gold IRA include setup fees, annual maintenance fees, and storage fees. These fees can vary based on the custodian and the storage option you choose. Be sure to clarify all costs and fees upfront with Monetary Gold to understand your total expense.

How to Buy Precious Metals from Monetary Gold

a screenshot of the Monetary Gold homepage

Purchasing precious metals from Monetary Gold is a streamlined and user-friendly process, designed to be accessible to both seasoned investors and beginners. Here is a step-by-step guide on how to buy precious metals from Monetary Gold:

Step 1: Understand Your Investment Goals

Before making a purchase, it is important to understand your investment goals and how precious metals fit into your overall financial plan. Are you looking for a hedge against inflation? Are you interested in diversifying your investment portfolio? The answers to these questions can guide your decision on what kind of precious metals to buy (gold, silver, platinum, or palladium), and in what form (coins, bars, or bullion).

Step 2: Research and Education

Monetary Gold provides educational resources on their website to help investors make informed decisions. Utilize these resources to understand the different precious metal options available, and the pros and cons of each. Familiarize yourself with the market trends and prices of different precious metals.

Step 3: Contact Monetary Gold

You can start the purchasing process by contacting Monetary Gold directly via their phone number or by filling out the contact form on their website. A precious metals specialist from Monetary Gold will reach out to you to discuss your investment goals, answer any questions you might have, and guide you through the purchasing process.

Step 4: Choose Your Precious Metals

Once you’ve decided on your investment strategy and have a clear understanding of the precious metals market, it’s time to choose your products. Whether you’re interested in gold, silver, platinum, or palladium, Monetary Gold offers a variety of options in the form of coins, bars, and bullion.

Step 5: Complete the Transaction

After selecting your preferred precious metals, you can finalize your purchase. Monetary Gold accepts various payment methods, including bank wires and checks. After your payment is processed, your order will be shipped to your specified location or, if you’re buying for a Gold IRA, directly to your chosen storage depository.

Step 6: Secure Delivery

Monetary Gold ensures the secure and insured delivery of your precious metals. Each order is packaged discreetly and sent via registered and insured mail to ensure it arrives safely at your location.

If you sign up for a precious metals IRA, your metals will be stored securely at an IRA-approved depository.

It’s important to note that investing in precious metals is a long-term commitment, and you should always do your research or consult with a financial advisor to ensure it fits into your overall investment strategy. Monetary Gold’s team is available to help guide you through this process, providing professional service and expertise every step of the way.

Monetary Gold Ratings and Reviews

the Monetary Gold logo over a white background

Monetary Gold has positive ratings and reviews on various platforms.

BBB

At last check, Monetary Gold holds an A+ rating from the Better Business Bureau (BBB), reflecting their commitment to customer satisfaction and ethical business practices.

TrustLink provides a platform for customers to share their experiences with a company. When we last checked, Monetary Gold had positive reviews on TrustLink, indicating a good level of customer satisfaction.

Consumer Affairs

Consumer Affairs offers verified reviews from real customers. At the time of publication, Monetary Gold had positive feedback here as well, indicating a strong track record of customer service.

Monetary Gold Complaints?

Like any company, Monetary Gold may have some complaints. However, it’s important to consider these in the broader context of all customer feedback and the company’s response. From my last update, any complaints against Monetary Gold were dealt with swiftly and professionally by their customer service team.

Summary

Monetary Gold is a reputable company offering a wide range of precious metals for investment, as well as Gold IRAs.

With positive reviews and comprehensive customer service, they make investing in precious metals straightforward and accessible.

However, as with any investment, due diligence is crucial. Ensure you understand all associated costs and the details of your investment before proceeding.

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Monetary Gold FAQs

Can I fund a Monetary Gold IRA from an existing retirement savings account?

Yes, you can fund a Monetary Gold IRA through a process known as a rollover, where funds from an existing retirement account are transferred into a Gold IRA.

Will Monetary Gold allow me to mix other investments with physical precious metals in a Gold IRA?

Yes, a self-directed IRA like those offered by Monetary Gold allows for a mix of investment assets, including precious metals and traditional paper assets.

Do I need a financial advisor to set up a Monetary Gold IRA?

While a financial advisor can provide valuable advice, you do not need one to set up a Monetary Gold IRA. Monetary Gold’s representatives can guide you through the process.

How do I choose a custodian for a Monetary Gold IRA?

Choosing a custodian for your Gold IRA is a personal decision based on factors such as cost, services offered, and reputation. Monetary Gold can provide a list of custodians they work with for you to consider.

Does Monetary Gold provide account statements for Gold IRAs?

Yes, Monetary Gold provides account statements which include a detailed list of your holdings and their current market value.