Patriot Gold Group is a precious metals IRA company that has been in business for years. You might have heard about them in your search for precious metals investment, and you’ve come across their services.
Before investing in a precious metals IRA, you might want to consider the pros and cons, find the right custodian, and ensure that you’re getting the most out of the assets you’ve chosen. A legitimate company like the Patriot Gold Group can help you decide if precious metals are right for you.
What is the Patriot Gold Group?
The company is based in Seal Beach, California, and it processes deals involving precious metals being added to IRA with a one-day process. Read more about its reviews on sites like https://www.bondsonline.com/patriot-gold-group-review/ and see more about the CEO and certifications of the company. They are also a member of the Professional Coin Grading Service and a certified firm for Numismatic Guaranty Corporation.
They provide gold and silver coins, bars, and rounds for investors looking to diversify their portfolios with precious physical metals. The company offers a wide variety of products from mints around the world, including the Krugerrands, Maple Leaves, Philharmonics, American Buffalo, and Gold American Eagle coins.
You can also buy the Silver Arctic Fox bullion, Polar bear and cub, American Eagle Proof Coins, Silver Kennedy Half Dollar, Polar Bear, and other proof coins. They might offer limited gold bars where the selections can include the 10-ounces from the Royal Canadian Mint, but they are great when you want to have them in your portfolio or retirement account.
Why Invest in Gold?
So, why should you open an IRA with precious metals in the first place? The answer is that gold is a valuable commodity that has been used as a form of currency, jewelry, and investment for centuries. The market determines its value, but it typically increases when other assets, such as stocks and bonds, decline. The coins and bars are also portable and easy to trade, making them a popular choice for investors.
A Hedge Against Inflation
There are several reasons to invest in gold. These assets could be a hedge against inflation. When the prices of goods and services rise, the value of the precious metals typically increases. This makes bullion a good investment for people who are concerned about inflation eroding their purchasing power.
Safe Haven
Other investors consider gold as a safe haven for their assets. This means that it can protect from losses in other investments during times of economic turmoil, recession, or political instability. For example, the precious metal was valued better than other assets during the 2008 financial crisis. This has set an example for others to prioritize tangible assets over paper stocks.
Diversification
A well-diversified portfolio can serve you well during retirement. While it’s true that all investments carry some risk, adding bars and coins to your portfolio can help reduce overall risk because they don’t move in lockstep with other asset classes, such as stocks and bonds. This means that if one asset class declines in value, there’s a good chance that your investments will hold their value or even increase as more investors demand them.
Provide Peace of Mind
Investing in physical gold can provide peace of mind. Unlike paper assets such as stocks and bonds, which can be susceptible to fraud or theft, the bars or coins must be stored in a bank or IRS-approved depository before they can be considered part of an individual retirement account.
How Does the Patriot Gold Work?
When you want to add precious metals to your retirement fund, you can call the company, and everything will be done smoothly. The process is simple, and you have to make a call, and a representative is going to walk you through the entire process of opening the account and signing the paperwork.
After you’ve completed the requirements, your account is going to be established after 48 hours. When you’re a new customer, calling an agent or filling up the registration information on their website is something that can get you started.
It’s worth noting that one-time fees apply for successful account setups. After you’ve had your account with them, you can start buying coins and bars you want to see in your IRA. You can fund this with after-tax dollars, as with the case of a ROTH, or pre-tax dollars, just like a traditional individual retirement account. Rollovers are also possible, and the custodian will speedily transfer the funds to your newly opened SDIRA which you can know more about them on this site here.
The trades are made in just two days when the funds are received. The orders are shipped into a depository or storage of your choice after you’ve bought your gold coins and bars. You have to ensure that the depository follows the guidelines set by the IRS. Most companies are partnering with custodians and depositories like STRATA Trust or Equity Institutional, but the clients can still choose which ones they would prefer.
Fees and Rates
You need to meet minimum investments before you can open an account with the company. Other dealers might have a markup price on their goods, and you can get charged a percentage fee on top of your purchases.
Start-up fees can start at $225. However, when you invest more than $30,000, these costs can be waived, and they can even reimburse you for the rollover expenses. If you prefer to put your assets into one of their partners for storage, know they don’t charge you. However, you might be required to pay for insurance and paperwork each year. You can also ask them about their programs, like getting No Fees for Life and the minimum investment needed so you can save more money.
The custodians and the services offered by the company can be different. Their rates are independent of each other, and this is why you should always ask around, do research, and verify the expenses you might incur before you open an account in the first place.