Patriot Gold Group Review

Patriot Gold Group is a popular provider of precious metals IRAs. But is it right for you? Is it legit? Or a scam? Read on to find out.

• What is Patriot Gold Group?
  
• Precious Metals IRA
  
• Storage
  
• Available Gold & Silver Coins
  
• Fees
  
• How They Compare

Most people invest their retirement savings in the stock market — which is smart.

The market has consistently trended upward. But from month to month, there have been many ups and downs.

What if you need to withdraw when the market is down?

You would lose a lot of money. That's why many people invest in precious metals.

A precious metals IRA, like those offered by Patriot Gold Group, provides healthy diversification to your portfolio.

But Patriot Gold Group is not the only precious metals IRA provider. Is it the right one for you?

In this in-depth review, you'll learn everything you need to know.

What is Patriot Gold Group?

Patriot Gold Group is based in Seal Beach, California, and is a well-known provider of precious metals IRAs.

Gold and silver IRAs offer a sense of security and control over your investments and potential protection against the inflation of the U.S. dollar. Both of which can be important considerations when planning for your future.

With Patriot Gold Group, you can roll over existing retirement accounts such as Roth IRAs or 401(k)s. They also sell gold and silver directly, making it easy to fund your retirement account.

Patriot Gold Group customers gain access to several depositories for secure storage of their gold and silver.

For those looking to learn more about precious metals IRAs and gold and silver investing, Patriot Gold Group offers a range of educational materials.

Finally, they are known for having quality customer service, which can be highly appealing when considering this relationship may last decades.

Patriot Gold Group Features

Now that you have a general idea of what Patriot Gold Group is and what they do let's take a closer look at each of their offerings.

Precious Metals IRA

The Precious Metals IRA from Patriot Gold Group is their primary offering. You can invest in gold and silver in a tax-advantaged account for your retirement.

Account setup is easy thanks to their dedicated customer service team. Getting your account fully set up can take as little as 48 hours.

The minimum investment for opening an account with Patriot Gold Group is $50,000. This is towards the high-end compared to similar competitors. This may make it inaccessible for newer investors.

Patriot Gold Group is not an IRA custodian, but they have relationships with both STRATA Trust and Equity Institutional. They also work with other IRA custodians like The Entrust Group, New Direction Trust Company, GoldStar Trust Company, and Kingdom Trust Company.^[1]

That said, Patriot Gold Group will allow customers to work with a custodian of their choosing.

Precious Metals Storage

Secure storage of your precious metals investments is vital when opening a gold and silver IRA. And due to regulations imposed by the government, you aren't able to store IRA-related precious metals at home or in a personal safety deposit box.

Fortunately, Patriot Gold Group works with multiple depositories including Texas Depository, Delaware Depository and Brinks Global Services USA.

Customers can work with Patriot to set up storage with any of these facilities.

Available Gold and Silver Coins

Patriot Gold Group lets you purchase precious metals for your own personal use or to fund your precious metals IRA.

But there are strict requirements on precious metals used for an IRA. Patriot Gold Group does the work to ensure that your investments will qualify.

They offer an extensive range of coins and bullion including:

• Gold American Eagles
  
• Gold American Buffalos
  
• Australian Gold Philharmonics
  
• South African Gold Krugerrands
  
• Canadian Gold Maple Leafs
  
• Royal Canadian Mint Gold Bars
  
• Silver Buffalo Rounds
  
• Silver American Eagle Proofs
  
• Silver American Eagles
  
• Royal Canadian Mint Silver Bars and more

If you purchase precious metals through Patriot Gold Group, they offer free delivery, registration, and insurance.

Fees to Look Out for

Patriot Gold Group doesn't disclose their fees on the website. But we spoke to a rep to get the details. Here's what you can expect:

• Annual fees: $140 for storage and insurance, and $60 for IRA custodian management

The first 1-3 years of storage fees may be waived depending on your initial investment.

Want to avoid all fees? Patriot Gold Group offers a No Fee for Life IRA for accounts with balances over $100,000.

If you have that much to invest, you can save more with Patriot Gold Group compared to other gold IRAs.

Patriot Gold Group vs Competitors

Now that we have a solid grasp of the features and fees charged by Patriot Gold Group let's look at them in the context of their most popular competitors.

Patriot Gold Group vs Goldco

Goldco is another well-known precious metal IRA provider. Like Patriot Gold Group, you can invest in gold and silver IRAs. They also offer platinum and palladium if you want to diversify your portfolio.^[2]

Goldco also has a fairly steep minimum investment of $25,000. Both providers charge comparable fees, and in both cases, you'll need to talk to a representative to get a clear answer about pricing.

Like Patriot Gold Group, Goldco has an excellent reputation when it comes to customer service.

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Patriot Gold Group vs Augusta Precious Metals

Augusta Precious Metals has similar features and fees as Patriot Gold Group.

The minimum investment is $50,000 to open a gold and silver IRA.^[3]

Augusta Precious Metals does stand out in terms of transparency, offering detail regarding pricing publicly on their site that either Patriot Gold Group or Goldco doesn't match.

One reason you might want to choose Patriot Gold Group over Augusta Precious Metals is if you have over $100,000 to invest to start with, you will benefit from Patriot's No Fee for Life IRA.

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Bottom Line

Overall, Patriot Gold Group is a solid choice for a precious metals IRA.

For investors with more than $100,000, the No Fee for Life IRA will be a great fit.

Patriot has a positive reputation for quality customer service and offers useful guides and other educational tools for those looking to learn more about precious metals investing and IRAs.

References