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Last Updated on December 2, 2023
As the global economy continues to face uncertainty, investing in precious metals has become an attractive option for many individuals looking to diversify their portfolios and protect their wealth.
One such company that specializes in gold and silver investments is the Patriot Gold Group.
In this comprehensive review, we will explore the Patriot Gold Group, its products and services, and assess the legitimacy of the company.
We will also examine the pros and cons of investing in precious metals, and provide insight into the process of setting up a precious metals IRA.
What is Patriot Gold Group?
Founded in 1986, the Patriot Gold Group is a leading precious metals dealer based in the United States.
The company specializes in offering gold and silver investments, as well as assisting clients in setting up Gold Individual Retirement Accounts (IRAs). The management team at Patriot Gold Group boasts a combined experience of over 50 years in the precious metals industry.
With its commitment to customer satisfaction and transparent pricing, the company aims to provide a seamless and trustworthy experience for its clients.
Patriot Gold and Silver: What Do They Sell?
The Patriot Gold Group offers a variety of gold and silver products to its customers.
These products include gold and silver bullion coins, as well as bars and rounds. Some of the most popular options available are the American Gold Eagle, Canadian Gold Maple Leaf, and South African Krugerrand coins.
The company also offers a selection of silver coins, such as the American Silver Eagle, Canadian Silver Maple Leaf, and Austrian Silver Philharmonic.
In addition to gold and silver coins, Patriot Gold Group sells gold and silver bars and rounds in various weights and sizes. These products are sourced from reputable mints and refineries, ensuring the highest level of quality and purity.
Patriot Gold Group Gold IRA
A Gold IRA is a type of Individual Retirement Account that allows investors to hold physical gold and other precious metals in their retirement portfolios.
The Patriot Gold Group offers a streamlined process for clients who wish to set up a Gold IRA.
The company works closely with its customers to help them select the appropriate precious metals for their investment goals and risk tolerance, as well as to ensure that their investments meet the Internal Revenue Service (IRS) requirements.
How to Set up a Precious Metals IRA
Setting up a Precious Metals IRA with the Patriot Gold Group involves a few key steps:
- Open a self-directed IRA: To begin, you will need to open a self-directed IRA with a custodian that specializes in precious metals. The Patriot Gold Group can help you find a custodian that meets your needs.
- Fund the account: Once your self-directed IRA is set up, you will need to fund the account by either making a contribution or rolling over funds from an existing retirement account.
- Choose your precious metals: With your self-directed IRA funded, you can work with the Patriot Gold Group to select the appropriate precious metals for your investment goals and risk tolerance.
- Storage and management: Your precious metals will be stored in an approved depository, ensuring their safety and security. The Patriot Gold Group will assist you in managing your Gold IRA, including regular reporting and handling any required paperwork.
Should You Invest in Precious Metals?
Deciding whether or not to invest in precious metals depends on several factors, such as your investment goals, risk tolerance, and overall financial situation.
Precious metals, like gold and silver, have historically been considered a safe haven during times of economic uncertainty.
They can help diversify your investment portfolio and protect your wealth against inflation, currency devaluation, and market volatility.
However, investing in precious metals also comes with its risks. The prices of gold and silver can be volatile, and there is no guarantee of substantial returns.
Additionally, precious metals do not generate passive income, unlike stocks and bonds that may pay dividends or interest.
Top Reasons to Consider Investing in a Precious Metals IRA
There are several reasons why investors may consider setting up a Precious Metals IRA:
- Diversification: Holding precious metals in your retirement account can provide diversification, reducing the overall risk of your portfolio.
- Inflation protection: Precious metals, particularly gold, have been known to serve as a hedge against inflation, helping to preserve the purchasing power of your retirement savings.
- Currency devaluation: As gold and silver are globally recognized stores of value, they can help protect your wealth against currency devaluation and fluctuations in the foreign exchange market.
- Economic uncertainty: Precious metals tend to perform well during times of economic instability, providing a degree of protection for your retirement savings.
Fees and Pricing
The Patriot Gold Group prides itself on its transparent pricing and competitive fees. The company offers a tiered fee structure for Gold IRA accounts, which includes the following:
- Storage fees: Annual storage fees vary based on the value of the metals held in the account. These fees cover the cost of securely storing your precious metals in an approved depository.
- Custodian fees: The custodian of your self-directed IRA will charge an annual fee for managing your account. These fees can vary depending on the custodian you choose.
- Account setup fees: Some custodians may charge a one-time account setup fee when opening a new self-directed IRA.
It’s important to discuss the specific fees associated with your Gold IRA account with your chosen custodian and the Patriot Gold Group to ensure you understand the total costs involved.
BBB Rating and Complaints
The Patriot Gold Group has an A+ rating with the Better Business Bureau (BBB), indicating a high level of customer satisfaction and a commitment to addressing any concerns or complaints.
Although no company is immune to occasional complaints, the Patriot Gold Group has a track record of promptly resolving any issues that may arise.
Patriot Gold Group Pros and Cons
- Experienced and knowledgeable team: The management team at Patriot Gold Group has over 50 years of combined experience in the precious metals industry, ensuring that clients receive expert guidance and advice.
- Wide range of products: The company offers a diverse selection of gold and silver coins, bars, and rounds to cater to various investment preferences.
- Transparent pricing: Patriot Gold Group is committed to providing transparent pricing and competitive fees for its products and services.
- Gold IRA expertise: The company has extensive experience in helping clients set up and manage Gold IRA accounts.
- Limited online resources: While the Patriot Gold Group website provides some information on precious metals and Gold IRAs, additional educational resources would be beneficial for investors who are new to this type of investment.
- No international shipping: The company currently only ships within the United States, limiting its reach to potential international clients.
Is Patriot Gold Group Legit?
The Patriot Gold Group is a legitimate and reputable precious metals dealer with over three decades of experience in the industry.
The company’s A+ rating with the BBB and its commitment to customer satisfaction are strong indicators of its legitimacy.
In conclusion, the Patriot Gold Group is a reliable and reputable choice for investors seeking to diversify their portfolios with gold and silver investments.
With a wide range of products, transparent pricing, and a team of experienced professionals, the company provides a solid foundation for clients looking to set up a Precious Metals IRA or invest in gold and silver.
Investing in precious metals can offer several benefits, such as portfolio diversification, protection against inflation, and a hedge against currency devaluation.
However, it’s essential to carefully consider your individual financial goals and risk tolerance before making any investment decisions.
Overall, the Patriot Gold Group’s commitment to customer satisfaction, combined with its extensive experience and expertise in the precious metals industry, make it a viable option for those looking to invest in gold and silver or set up a Gold IRA.