Welcome to my Patriot Gold Group Review.
Many companies out there, especially in the United States, provide precious metals for IRAs and other similar services.
However, you should be careful when picking a precious metal company to start investing in gold, silver, and other precious metals.
It says that Patriot Gold Group provides flexible services and boasts of working with handpicked employees who are experts in the field.
The question is, is Patriot Gold Group a legit company or a scam? Let's find out.
This review will take an in-depth review of Patriot Gold Group and see if this company is legit or not or if it is just a waste of time and money.
In this review, we will try to answer all your questions about the Patriot Gold Group and understand more about this company and see if it is a scam or not.
What Is Patriot Gold Group?
What Is Patriot Gold Group?
Patriot Gold Group is a company that sells precious metals such as gold and silver coins.
The company is based in Los Angeles, California, and its goal is to help its customers invest in precious metals.
Investing in gold and silver through an IRA can protect you from the ebb and flow of the stock market and, perhaps, from the deterioration of the value of the U.S. dollar. When thinking about your future, both of these things can be crucial.
Existing retirement accounts such as Roth IRAs and 401(k)s can be rolled over to Patriot Gold Group. Gold and silver can be purchased from them directly, which simplifies the process of saving for retirement.
Customers of Patriot Gold Group have the option of using many secure depositories to store their precious metals.
Furthermore, Patriot Gold Group provides numerous learning resources for anyone interested in precious metals IRAs and gold and silver investment. And they have a stellar reputation for customer service which is a plus.
How Does Patriot Gold Group Work?
If you plan to open a precious metals IRA with Patriot Gold Group, all you need to do is fill out the application on their website or call (877) 711-6618.
The form will ask for your personal information and contact number.
You'll also need to put your bank account information because they will draw funds if you make a purchase.
Once it is all done, an account representative will reach out to you and help you finish your account process.
Also, Patriot Gold Group's 401(k) and IRA Rollover department can assist you with the transfer process if you want to move your existing retirement account into your new precious metals IRA.
To make a purchase, you will need to call your account representative, and they will help you place your order and transport products to your storage location of choice.
Patriot Gold Group Products And Services
As you already know, Patriot Gold Group offers two precious metals, and those are gold and silver.
They help their customers to buy, sell, and store their precious metals for investment.
Also, the company helps its customers establish precious metals IRAs, commonly referred to as gold IRAs.
Though they are not an IRA custodian themselves, Patriot Gold Group has established partnerships with STRATA Trust and Equity Institutional.
Besides these company, they also work with Kingdom Trust Company, The Entrust Group, New Direction Trust Company, GoldStar Trust Company, and other IRA custodians as Patriot Gold Group lets its clients choose their own custodians.
Patriot Gold Group Precious Metals IRA
Many people plan to save something from their retirement when they stop working.
That is why you need to invest in making sure that your savings grows over time.
Gold IRA is a type of account that is designed to help people save for retirement.
When you file your taxes, you can deduct any contributions you make to a traditional IRA from your income.
It means that you'll pay less tax in the year that you contribute.
Patriot Gold Group helps their investors to open a gold IRA account that lets them invest in precious metals while getting the tax advantages of an IRA.
You can also work with the company to contribute cash to your account and buy precious metals.
The company also helps manage storage and transportation for you.
Patriot Gold Group Gold and Silver Products
If you don't plan to open a gold IRA account, you can still work with Patriot Gold Group to buy and sell precious metals.
As you can see, the company focuses on gold and silver coins.
The Patriot Gold Group sells a large variety of gold and silver coins. Some of the gold coins they offer are:
- The Canadian Royal Mint: Maple Leaf
- The Austrian Mint: Gold Philharmonic
- The United States Mint: Gold American Eagle
- United States Mint: Gold American Buffalo
- South African Mint: Kruger Rand Gold Coin
Among the options for a gold IRA are the following coins:
- United States Mint: American Buffalo
- Perth Mint: Australian Spotted Eagle Ray 2021
- The Royal Canadian Mint: Gold Arctic Fox
These are some of the available bullions at their company:
- US Mint: Silver Kennedy Half Dollar BU 1964
- The Royal Canadian Mint: Silver Polar bear
- US Mint: Proof Silver American Eagle Silver Coin
- US Mint: Morgan Silver Dollar
- The Royal Canadian Mint: Silver Arctic Fox
You can put the following silver coins in your IRA:
- The Royal Canadian Mint: Silver Arctic Fox
- United States Mint: Silver American Eagle Proof Coins
- Royal Canadian Mint: Silver Polar bear and Cub
The coins are available for purchase, and they come from around the world, in Austria, Canada, South Africa, and the United States.
The downside of this company is that their products are that it doesn't have a price.
You can still select the amount you want to invest in each type of coin to generate a quote.
However, you'll need to speak to one of the company's representatives to know the pricing for each coin.
How Much Does Patriot Gold Group Cost?
Some fees need to be paid if you plan to store your coins with Patriot Gold Group.
Upon my research, here are the fees that you are going to pay.
Can You Store Precious Metals With Patriot Gold Group?
The Patriot Gold Group offers storage options where you can store your precious metals.
It also works with multiple depositories around the country.
If you want, the company can manage your products' transport and storage at one of these depositories for a fee.
For taxable accounts, the company lets its investors store their products at home.
IRS rules forbid investors from holding precious metals at home.
However, the company offers a complicated strategy where it allows you to store metals in an IRA at your home without violating rules.
It's probably best to keep your metals at a depository rather than use the company's untested method, which requires you to handle storage and safety.
Can You Withdraw Money From Your Account?
You cannot take money out of the account until you turn 59 years of age or above.
If you withdraw below that age, there will be a 10% penalty in addition to any taxes you owe.
If you’re ready to withdraw money from your self-directed IRA, there are two options.
Patriot Gold Group can help transport your precious metal from your storage location to your home.
Once you have the products in your possession, you are free to do them as you please.
The other option is that your account representative can help you sell your precious metals and deposit the money into your bank account.
This is the more convenient option if you need money to spend.
How Can You Monitor Your Precious Metals IRA?
Following your portfolio's growth and development is crucial for each investor. You can now easily modify your investment portfolio and technique accordingly.
Patriot Gold Group will facilitate your appointment to a custodian who will set you up with a secure web portal via which you can monitor your investment portfolio.
Current gold and silver prices can be seen on the company website. Incorporating these graphs into your investment planning process will always be a wise choice.
Patriot Gold Group Ratings and Reviews
Here we will see the ratings and reviews of this company and what other people experience when they try to purchase one of their products.
The first one that we are going to look at is BBB or also known as Better Business Bureau, and see if this company is accredited or not.
As we look into it, Patriot Gold Group is BBB accredited and they gave the company an A+ and a perfect 5-star rating.
There are 5 reviews in total and 0 complaints so far. In those 5 reviews, all of them had a good experience with the company.
The following review website is Trustpilot. Here there are 33 reviews, and most of them gave the company an excellent rating.
They also gave the company 4.7 ratings which is good.
What I Like About Patriot Gold Group
- No fees for accounts over $100,000
This is a huge bonus for investors who buy in bulk, this somehow magnets more investors in the future.
- Positive customer ratings and reviews
You can do your business with them with ease knowing a lot of past customers have already vouched for their great products and even great customer service.
- Free gold IRA investor guide
This is a great convenience for the newbies and for the experienced investors alike, it just shows how much they care about their clients from the start.
What I Don't Like About Patriot Gold Group
- Platinum and palladium are not included in your IRA account
Some customers may not mind, but I believe they should improve this restriction to be more versatile and cater to a wider range of clients.
- Some sections of the website are unclear or incomplete
Their website is not particularly user-friendly, which may cause their clients, particularly first-time visitors, to become confused.
- There is no price for their products
The company doesn't show the prices of their coins. Customers who go to the website don't know how much of a markup the company is charging for the coins.
Is Patriot Gold Group A Scam?
Patriot Gold Group is not a scam. The company is one of many companies out there that help people invest in precious metals. As you can see, they have good reviews and ratings. This shows how good the company is and how they handle their customers.
If you find that Patriot Gold Group satisfies your requirements, they may be an excellent company for you to join. They take pride on their amazing business concept, which is quick and easy to operate. This is why this business is a safe shelter for the investments of many clients.
Now you know about the Patriot Gold Group and what this company has to offer.
The company has been around for 5 years now, and they got a lot of positive reviews from their customers.
As I said earlier, if you plan to purchase metals in this company it is up to you to decide but if you are looking for a better alternative, then I suggest you go for Augusta Precious Metals. If you're interested in them, click the button below.
Thank you for taking the time to read my Patriot Gold Group scam review.
If you have any questions or experiences with this company, please share them in the comments below.