Monetary Gold Review
Monetary Gold Review
Monetary Gold – Your Gold IRA Rollover Specialists
Monetary Gold sources their precious metals directly from the supplier and passes the savings on to you.
*Limited Time Offer: Up to $5,000 of free gold and silver for qualified accounts 💰
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Monetary Gold Overview
Monetary Gold prides themselves on their experience. They’ve been helping investors save for retirement and preserve their hard-earned dollars for over 50 years. This is mainly done by helping clients open and rollover paper-backed retirement accounts into new ones that are backed by precious metals.
Monetary Gold makes it incredibly easy to get started with a precious metals IRA. If you think that this is something that you’d want to pursue, just follow these steps to get started:
- Contact one of their specialists.
- Your account will be active within 48-72 hours of getting started.
- Make a contribution or rollover an existing IRA and choose your new investments.
Another thing that Monetary Gold hangs their hat on is that they’re “motivated by success stories instead of transactions”. They’re more than happy to speak with any interested customers and can answer any questions that you might have without any high-pressure sales tactics.
There are quite a few benefits of investing in precious metals and a few of the most common are:
- Diversification – Diversifying your portfolio is a staple of investing. However, many investors only diversify themselves across the same asset class (for example, owning many different types of stocks). Putting some of your money in precious metals will protect you from the volatility of the stock market and the declining purchasing power of paper currencies.
- Hedge against inflation – Governments and central banks are unable to create more precious metals because only a finite amount exists on Earth. Due to this fact, precious metals don’t experience the negative effects of inflation that paper currencies do.
- Tax advantages – There are many tax benefits associated with keeping your money in a retirement account that’s backed by precious metals. A Monetary Gold specialist will be able to discuss more in detail.
- Growth potential – Despite being a very safe investment, there is still a lot of growth potential when investing in gold. The price of an ounce of gold in 2000 was $279 dollars. Today an ounce of gold cost over $1,900.
Monetary Gold Review
Monetary Gold provides their customers the ability to confidently and safely prepare for retirement by investing in gold and other precious metals. They offer a wide range of precious metals products that can act as a key way to diversify your portfolio and protect retirement portfolios during challenging times.
The main factor that sets Monetary Gold apart from other gold IRA companies is their pricing. Monetary Gold has the ability to acquire precious metals directly from the source instead of using a middleman. By purchasing directly from a supplier, they’re able to offer more competitive prices to their customers. This same strategy is why it’s cheaper to do your shopping at a store like Costco instead of CVS.
If you’re looking for a good place to get started opening a precious metal IRA, Monetary Gold is a solid option. They offer very low fees and account minimums to get started. This can be advantageous if you’re just getting started.
Monetary Gold Review Score
Rock-bottom prices – The difference with Monetary Gold is with their unique ability to buy precious metals directly through the source. Monetary Gold passes big savings on to their gold IRA customers by cutting out the middle man price mark-ups.
- Best Prices – Monetary Gold sources their gold directly from the supplier, not a third party. This allows them to offer the same investment packages as other companies but at a lower price. Their fees and account minimums are also incredibly low.
- No Pressure – Monetary Gold makes a point on their website that they do not use high-pressure sales tactics. They also claim that they care more about success stories than transactions. This can be a breath of fresh air in the financial services industry, which is notorious for pressuring people to invest.
- Fewer Reviews – Although Monetary Gold has a positive rating with the BBB and BCA with a few positive reviews, they don’t have a whole lot of reviews in general.
- Cumulative Fees – Monetary Gold has very low fees but they also charge more for every $1000 worth of gold after $100,000. This means that if you have a lot of money that you’re looking to invest, then you will have to pay more in fees. However, they are running a promotion: Up to 5 years of custodian fee’s waved for qualified applicants.
Monetary Gold is a leading dealer of physical precious metals in the United States. Monetary Gold is a direct dealer making your acquisition through the source, passing the savings on to you.
Hours: Mon-Thurs 6am-4:30pm, Friday 6:00am-2pm PST
Closed on all major holidays
Fees & Prices
- One-Time Fee: $30 delivery fee – A one-time shipping fee using Fedex, UPS, or USPS to ship your precious metals either to the depository in Delaware or to your home. The packages are disguised to hide the contents and shipping metals is very safe.
- Annual Fees: $100 – Annual Storage & Insurance fee for up to $100,000 of gold ($1 for every $1000 of gold after $100,000). For example, if you have $150,000 of gold then the annual fee will be $150.
- Recommended Minimum purchase of gold and silver in an IRA is $5,000-$10,000
- Minimum varies depending on your precious metals custodian.
Products and Services
- Gold IRA
- Silver IRA
- Gold Investments – Monetary Gold offers 18 different types of gold coins that you can invest in.
- Silver investments – Monetary Gold offers 8 different types of silver products that you can invest in.
- Platinum investments – Coming soon.
- Palladium investments – Coming soon.
The products listed on their site that are not IRA’s are generally coins or similar gold/silver products. They encourage you to buy physical gold and store it instead of purchasing gold through an ETF (exchange-traded fund). Read more here.
Monetary Gold offers free workshops to help gain knowledge about what you’re investing in and how it’s good for you. They also have plenty of resources available on their website about the overall benefits of investing in gold.
A few of the topics that they’ve written articles about are:
- Collapsing banks in the United States
- The fragility of the dollar
- How gold compares to the dollar
- Physical gold vs a gold ETF.
Monetary Gold IRA
The main product offered by Monetary Gold is a precious metal IRA (backed by gold or silver). As mentioned earlier, precious metals IRA’s are Individual Retirement Accounts that are backed by gold or silver instead of paper assets. If you have another IRA (or similar type of retirement account) Monetary Gold can help you move the assets from one account to another.
They allow you to transfer or rollover the following accounts:
- Traditional, Roth, or SEP IRA
If you already have existing accounts, don’t worry about paying any penalties. These accounts are able to be rolled over without incurring any penalties or taxes and it’s very common to do so.
*Accounts that are eligible for a rollover include Traditional, Roth, SEP and SIMPLE IRAs. Also, 401(k) and 403(b) plans are also eligible to be transferred to a Precious Metals IRA.
Monetary Gold Storage
Monetary Gold uses the Delaware Depository Service Company (DDSC) or Brinks to handle the storage of their gold. This DDSC precious metals depository is located in Wilmington, Delaware and is one of the worlds largest precious metal depositories in the world. Gold that is stored in this depository is insured by Lloyds of London.
One of the main reasons that this depository is located in Delaware is because of the many tax advantages associated with this state. A few of the tax advantages are:
- No state sales tax
- No personal property tax
- No inventory tax
- No commercial net worth tax
Monetary Gold stores their gold in Delaware to take advantage of these savings and then passes on the lower prices to their customers.
Monetary Gold Fees
- *Up to 5 years of custodian fee’s waved for qualified applicants.
- $30 delivery fee – A one-time shipping fee using Fedex, UPS, or USPS to ship your precious metals either to the depository in Delaware or to your home. The packages are disguised to hide the contents and shipping metals is very safe.
|Monetary Gold Fees||Fee Description|
|Annual Fees||Custodian fee example: $75 minimum (varies depending on custodian)|
|Annual Storage Fees||$100 – Annual Storage & Insurance fee for up to $100,000 of gold|
($1 for every $1000 of gold after $100,000).
|Shipping Fees||$30 delivery fee|
|Minimum Purchase Amount||$5,000 – $10,000 – This varies depending on your precious metals custodian.|
Monetary Gold Q&A
Does Monetary Gold sell precious metals without a gold IRA?
Yes, they offer 18 options for buying gold and 8 different options for buying silver.
How do I roll over my existing IRA or 401k to a gold IRA?
1. First, just make a call to speak with a precious metals specialist.
2. Next, they will help walk you through the process of rolling over your existing funds to your gold IRA. This is a fairly simple process and very common.
3. Once the transfer is completed, they’ll help you select the precious metals that are best for your financial goals and arrange for them to be stored with one of their custodians for you.
How long does the process take to open a gold IRA?
At Monetary Gold, it takes 48-72 hours to get a new account open after processing.
Who is eligible for a Traditional Precious Metals IRA?
Anyone under the age of age 70 ½ who has earned income.
Are there penalties for moving my IRA or 401(k) to a Gold IRA?
No, an IRA rollover is a common, tax-free process with no fees or penalties.
What type of metals can I keep in my Gold IRA?
To qualify, gold must have a minimum purity of 99.5% and silver a minimum of 99.9% to qualify for an IRA.
How do I keep my precious metals safe while they’re in my IRA?
When you open an account, they will help you transfer your gold, silver, and other precious metals to a secure vault in an IRS-approved depository located in Delaware.
In what form can I receive distributions?
You can receive distributions from your Precious Metals IRA in the form of physical gold, silver, platinum, or palladium, depending on what metals are in your account. If you prefer to receive cash, you can have your precious metals converted into cash.
Risk Disclosure: Investments of any kind involve risk, including gold, silver and other precious metals. Customers who are interested in investing should consult with a licensed professional investment advisor. Consumers should proceed with caution when being told that any investment is guaranteed, as past performance does not guarantee future returns.
Disclaimer: The owners of this website may be compensated to recommend specific companies, products or services. While we strive for accuracy, the content of this website, including recommendations and any reviews, may not be independent or neutral.