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Precious metals are arguably the least volatile asset class. While that doesn’t mean the prices of metals are flat, they tend to add stability to an investor’s long-term portfolio. Understandably, as global stock markets post wild price swings, the low volatility precious metals provide has become increasingly attractive. With each passing year, more people are getting interested in swapping their stocks for shiny coins and bullion through self-directed precious metals IRAs.
Although there are dozens of gold IRA providers to choose, Patriot Gold Group is a well-established name in the American precious metals market. Since Patriot Gold Group’s founding in 2016, this company has won many accolades for its services, including multiple positions at the top of ConsumerAffairs’ Gold & Silver Dealer list. While this all sounds impressive, does that mean Patriot Gold Group is the “best” precious metals IRA vendor for you? Take a few moments to review what Patriot Gold Group has to offer before opening an IRA account.
Bottom Line: Patriot Gold Group is a precious metal dealer offering gold and silver IRAs, as well as other precious metals products like direct purchase of gold and silver coins, bullion, and bars.
What is Patriot Gold Group?
Patriot Gold Group is a California-based precious metals vendor and self-directed IRA provider. Investors who work with Patriot Gold Group can purchase gold or silver directly, or rollover IRA accounts to buy precious metals for retirement.
Jack Hanney founded Patriot Gold Group in 2016 and is currently the company’s CEO. Before heading Patriot Gold Group, Hanney had first-hand experience in the metals industry space as the Executive VP at Pacific Palisades’ Wholesale Direct Metals. Over the years, Patriot Gold Group has won multiple top ratings from ConsumerAffairs and earned accreditations from the Better Business Bureau (BBB) and Business Consumer Alliance. The veteran-owned eCommerce site Mammoth Nation and the Fox News commentator Dick Morris are two of Patriot Gold Group’s most prominent supporters.
How Does Patriot Gold Group Work?
Patriot Gold Group claims to work directly with precious metals dealers to give customers the best possible prices on gold and silver products. While investors could buy precious metals from Patriot Gold Group for home storage, it’s also possible to rollover pre-existing IRAs into a self-directed Patriot Gold Group IRA. This new precious metals IRA works the same in terms of tax deductions, max contributions, and early withdrawal penalties, but investors get to buy physical metals rather than stocks or ETFs. Patriot Gold Group works with multiple IRS-approved custodians and depositories to store their clients’ gold and silver until they reach retirement age. IRA holders can withdraw their physical gold and silver or sell their metals back to Patriot Gold Group for a cash payout.
You must deposit at least $25,000 to open a Patriot Gold Group IRA. However, if you want Patriot Gold Group to ship gold or silver directly to your home, you need to invest a minimum of $10,000.
Patriot Gold Group claims to work with standard retirement plans, including Traditional IRAs and 401(k)s. For more details on whether your retirement account fits Patriot Gold Group’s requirements, speak with an agent at (800) 559-2221.
If you want to rollover an IRA to Patriot Gold Group, you first need to determine if your current retirement account qualifies for a precious metals IRA. As mentioned above, you need at least $25,000 to invest with Patriot Gold Group. Investors also have to reach out to Patriot Gold Group to double-check their IRA type fits this company’s stipulations. Before signing an e-form on Patriot Gold Group’s website, contact a customer care rep at (800) 559-2221 to discuss your options.
Opening an Account
Patriot Gold Group boasts a swift “same-day” IRA set-up process, but please don’t rush into signing up for a retirement account. New investors should take advantage of Patriot Gold Group’s numerous educational resources before deciding whether it’s the right move for their retirement money.
- Step 1 – Request a Free Info Kit: Like many other precious metals IRA companies, Patriot Gold Group offers anyone interested in gold investing a free educational guide. To get a physical copy of Patriot Gold Group’s Gold & Silver IRA Investment Guide, enter your name, home address, and phone number on the company’s official website. You could also visit Patriot Gold’s “Knowledge Center” online for more info on how precious metal investing works.
- Step 2 – Talk to an IRA Specialist: If you still have questions after reading Patriot Gold Group’s brochure, contact Patriot Gold Group’s customer service team at (800) 559-2221. Remember that this customer care line is only open between 7 AM – 5 PM CST Mondays through Thursdays and 7 AM – 3 PM CST on Fridays. You could also contact Patriot Gold Group via live chat on its website.
- Step 3 – Open Your Precious Metals IRA: Patriot Gold Group has an e-form on its website where you can enter all your details to start the IRA rollover process. However, you could call (800) 559-2221 if you’d prefer to open your account with a live agent.
- Step 4 – Fund Your IRA Account: Once Patriot Gold Group receives your IRA application, you must request a rollover from your current IRA provider. If you have trouble throughout this process, call Patriot Gold Group to figure out the paperwork you need to complete.
- Step 5 – Purchase Precious Metals: After the money from your former IRA account enters your Patriot Gold Group IRA, you’re free to buy IRS-approved gold or silver with the help of a Patriot Gold Group agent. You can also choose from one of Patriot Gold Group’s many partner depositories to store your investments.
- Step 6 – Monitor Your Investment: Patriot Gold Group doesn’t provide a personal IRA portfolio dashboard on its website, but you can call (800) 559-2221 to learn how your precious metals are performing. Investors should also keep detailed notes of their purchase prices and review the current spot price of gold, silver, and other precious metals.
Patriot Gold Group Features
Customers who use Patriot Gold Group are either interested in rolling over an IRA or buying precious metals outright. Either way, Patriot Gold Group has a customer service agent standing by to help people obtain high-quality coins, bullion, and bars.
|Fees||$225 (setup fee) *setup fee waived for deposits greater than $30,000, $200/year (custodian fee), $100 to 200/year (storage fee) *other fees may apply|
|Account Types||Traditional IRA, Roth IRA, and 401(k)|
|Offerings||Gold, Silver, Platinum and Palladium|
|Better Business Bureau||A+ Rating|
|Business Consumer Alliance||AA Rating|
|Physical Precious Metals Ownership|
|Free Info Kit|
|Support||Contact Form, Live Chat, Email: [email protected] and Telephone: (877) 563-8856|
Precious Metals IRA
Patriot Gold Group’s Precious Metals IRA is a self-directed IRA that lets investors use their retirement account to buy IRS-approved gold, silver, platinum, or palladium. Patriot Gold Group has an IRA minimum deposit of $25,000 and works with standard retirement accounts such as Traditional IRAs and 401(k)s. You get the same tax benefits as your standard IRA, but you also need to follow the same rules for yearly contributions and early-withdrawal penalties.
Also, the IRS requires people who hold a Precious Metals IRA to store their coins or bullion in a depository until they reach retirement age. To comply with these rules, Patriot Gold Group works with partner custodians like STRATA Trust and Equity Trust and dozens of facilities throughout the USA.
Unsurprisingly, a Gold IRA focuses on IRS-approved gold coins and bullion on Patriot Gold Group’s website. To qualify as “IRS approved,” gold coins need a fineness score of at least .995, so always double-check the products you’re interested in are in Patriot Gold Group’s “IRS eligible” category. A few gold mints on Patriot Gold Group’s catalog include:
- The Mayflower 1/4 oz Gold Bullion Coins
- Gold American Eagle 1 oz Coins
- Gold American Eagle 1/2 oz Coins
- Gold American Buffalo 1 oz Coins
- Royal Canadian Gold Maple Leaf Coins
- Canadian Gold Polar Bear & Cub Coins
- Australian Spotted Eagle Ray 1/4 oz Gold Bullion Coins
- Royal Canadian Gold Gyrfalcon Coins
Silver IRAs follow the same rules as self-directed Gold IRAs but focus on IRS-approved silver coins and bullion. The IRS holds silver to a higher fineness standard of .999, but Patriot Gold Group ensures all products in its “IRS eligible” tab meet or exceed this level.
A few silver coins available in Patriot Gold Group’s IRS silver portal include:
- The Mayflower 1 oz Silver Bullion Coins
- Silver American Eagle 1 oz Coins
- Silver America The Beautiful Coins
- Canadian Silver Polar Bear & Cub Coins
- Canadian Silver Arctic Fox Coins
- America The Beautiful Silver 5 oz Coins
- Australian Spotted Eagle Ray 1.5 oz Silver Coins
Buy Gold and Silver Coins
Customers who want to store gold or silver coins on their property can buy outright from Patriot Gold Group’s website. Unlike Precious Metals IRAs, you need to spend a minimum of $10,000 to have Patriot Gold Group ship these coins to your doorstep. Just keep in mind the gold and silver coins Patriot Gold Group sells don’t need to meet IRS fineness scores.
Some of the most unique offerings include:
- Liberty Gold Double Eagle
- 1933 St. Gaudens Gold Double Eagle
- Silver Kennedy Half Dollar BU 1964
- Morgan Silver Dollar
- Silver Franklin Half Dollar
- Silver Walking Liberty Half Dollar
Buy Gold and Silver Bullion
If you prefer gold or silver bullion over coins, Patriot Gold Group can ship these products to your home. As mentioned above, you must spend at least $10,000 to take advantage of this service. Some of the most unique offerings include:
- Silver Buffalo Rounds
- Silver American Eagle 1 oz
- 10 oz Silver Bar
- Silver Maple Leaf
- Gold American Buffalo 1 oz
- Gold American Eagle 1 oz
- Gold Philharmonic 1 oz
- South African Gold Krugerrand
- 10 oz Royal Canadian Mint Bar
Buy Proof Gold and Silver Coins
In the precious metals industry, “proofing” is an intensive cleaning and minting process. Therefore, investors who want the highest-quality coins from the US Mint may be interested in reviewing Patriot Gold Group’s “proof coin” collection. A few mints now available on Patriot Gold Group’s site include:
- Gold American Eagle ½ oz Proof
- James Madison Gold Coin Proof
- Silver Polar Bear Silver Coin Proof
- Silver American Eagle Coin Proof
Patriot Gold Group Fees
Patriot Gold Group isn’t the most transparent with its fees. Although the company advertises “no fees for life on qualifying IRAs,” it doesn’t publish tables or FAQs on its main website detailing these plans. Therefore, anyone interested in a Patriot Gold Group IRA must contact the company directly for the latest fee information. Below, we’ll review the latest details on Patriot Gold Group’s fees, but bear in mind these can change at a moment’s notice.
If you deposit the minimum $25,000 to your IRA rollover, expect to pay around $225 for an initial set-up fee. However, Patriot Gold Group IRA sometimes waives this fee if you deposit above $30,000, so contact a customer care agent to see if they have any specials for higher rollovers.
Annual IRA Fees
The annual fee you pay for your Patriot Gold Group IRA depends on which custodian you choose to work with. However, most recent reports and online reviews suggest you should prepare to pay $200 per year. Be sure to speak with a Patriot Gold Group specialist about how annual fees differ depending on your initial deposit and partner custodian.
Like annual fees, storage fees depend on where you choose to store your precious metals. Most reviews of Patriot Gold Group suggest average storage fees are in the $100 – $200 range, but the only way to find out for certain is to ask an agent for info on your preferred custodian.
Unfortunately, Patriot Gold Group isn’t forthcoming with its fee structure on its main website. However, it has been known to offer significant fee reductions if you deposit over $100,000 into your account. Since Patriot Gold Group’s fees vary depending on your account’s size and partner depository, you’ll need to spend some extra time discussing these costs with an IRA specialist.
Patriot Gold Group Security
Since Patriot Gold Group is responsible for guarding your gold and silver till retirement, you need to feel comfortable about its security standards. To put customers’ minds at ease, Patriot Gold Group partners with many professional IRS-approved depositories and custodians, including Delaware Depository, Equity Trust, and Goldstar Trust. Customers can choose from any of Patriot Gold Group’s recognized partners when setting up their IRA accounts. Be sure to review the location of your facility and the fees associated with using different custodians.
Patriot Gold Group Customer Support
Patriot Gold Group prides itself on offering exceptional customer service with live chat and phone support. You can contact Patriot Gold’s team during standard CST business hours (and early on Fridays) at (800) 559-2221. Patriot Gold also has a live chat on its website and an email link.
Patriot Gold Group User Experience
Patriot Gold Group has stellar ratings on online review websites like ConsumerAffairs, Google Reviews, and Trustpilot. In fact, it’s hard to find reviews below five stars on many of these websites. The Better Business Bureau (BBB) gives Patriot Gold Group an A+ rating, and no complaints are on its BBB page. Plus, Patriot Gold Group holds the title of the best gold vendor in the USA from ConsumerAffairs every year between 2020 – 2023.
Patriot Gold Group also holds a AA rating with the Business Consumer Alliance (BCA).
Here’s what a few Patriot Gold customers have to say on popular review websites:
“I have just completed my 5th transaction with [Noble] Gold and Mandi Carlson. I couldn’t be more satisfied with the “Service was good; I was contacted by a sales associate quickly and he walked me through buying options professionally and order was filled quickly…mark up over spot price was a bit more than competition, but free 1% in gold evened it out.” Derek of Waxhaw, NC (ConsumerAffairs)
“I could not have had a better experience. Patriot Gold group doesn’t just sell gold and silver. You can find hundreds of dealers, but to find a dealer who cares and is appreciative of our business is a true golden” find. These people care and you deal with an owner not “salesperson”. You’ll never feel pressured to buy as they strive to sell you a product that’s best for you.” Charlotte Payton (Google Reviews)
“I was very nervous about closing my current 401K and transferring it into a metals IRA. But Patriot Gold Group made it not only easy, but explained every step AND followed through 100% to lock in my investment as quickly as possible. I spoke to 2 reps, the first one was so personable he welcomed me to call him, even for prayer! And the IRA rep has been responsive to every email and phone call. I would recommend hands down when dealing with this company.” D.Pyles (Trustpilot)
Patriot Gold Group Pros Explained
- Fast and straightforward IRA rollover speed: The Patriot Gold Group team promises to complete the IRA set-up process within one business day. With the help of a Patriot Gold Group agent, it shouldn’t take long for your self-directed IRA account to be ready to start making purchases.
- No shipping fees: Patriot Gold Group advertises a free shipping rate on every precious metal they send to customers. If you’re requesting physical metals via an IRA or want to buy coins or bullion outright, you shouldn’t have to pay a transit fee.
- Responsive customer care division: Investors can contact Patriot Gold Group’s staff during regular CST business hours on Mondays through Thursdays (plus reduced hours on Fridays). It’s also easy to reach Patriot Gold Group by email or live chat.
- Choice of multiple custodians and depositories: People who open an IRA with Patriot Gold Group can choose from various depositories to handle their gold and silver. For instance, Patriot Gold Group has partnerships with Delaware Depository, Equity Trust, and Brinks International, so clients don’t have to feel tied to one custodian.
- Multiple accreditations and long history: Besides its A+ rating with the BBB, Patriot Gold Group has various awards from ConsumerAffairs and affiliations with celebrities like Dick Morris. Patriot Gold Group’s long history in the precious metals industry also gives it greater credibility.
Patriot Gold Group Cons Explained
- Lack of fee transparency: There’s no easy way to find specific fee information on Patriot Gold Group’s website. You’ll need to reach out to a customer care representative and request more information to figure out how Patriot Gold Group’s fees work.
- High initial IRA deposit: Patriot Gold Group’s $25,000 minimum for Precious Metals IRAs isn’t the highest in the industry, but it’s a significant commitment. Investors need to feel comfortable putting a large portion of their retirement savings in the precious metals market.
- Fewer total reviews versus competitors: There are dozens of high ratings for Patriot Gold Group on sites like Google Reviews and Trustpilot, but there aren’t as many reviews of other precious metals sites. For example, Goldco has over 1,000 Google Reviews, and American Hartford Gold has about 500, while Patriot Gold Group has below 80.
- No buyback guarantee: Patriot Gold Group accepts buyback requests, but it doesn’t mention a “buyback guarantee” on its website. Investors should know there’s no legal requirement forcing Patriot Gold Group to send cash for gold or silver rather than the physical metals.
Patriot Gold Group Alternatives
Even though Patriot Gold Group has many high ratings in the precious metals industry, there are many alternative self-directed IRA providers. Check out a few of Patriot Gold Group’s key competitors to determine which company is best for you.
Patriot Gold Group vs. Goldco
Backed by Chuck Norris and Sean Hannity, Goldco is another highly-rated California-based precious metals IRA dealer. Like Patriot Gold Group, the minimum deposit for a Goldco IRA is $25,000, and it offers IRS-approved storage with partners like Delaware Depository. Compared with Patriot Gold Group, Goldco has more online reviews and advertises a “Buyback Guarantee.” You can learn more in this comprehensive Goldco review.
Patriot Gold Group vs. Augusta Precious Metals
Founded in 2012, Augusta Precious Metals is another well-known California-based gold IRA provider. The most notable feature that sets Augusta Precious Metals apart from Patriot Gold Group is its higher IRA deposit of $50,000. Although working with Augusta Precious Metals costs more, the company promises a “Lifetime Customer Care Guarantee” with a precious metals expert. Augusta Precious Metals also works with high-quality partners like Equity Trust and Delaware Depository. Find out more on our previous Augusta Precious Metals review.
|Annual Fees||$200||$200 (waived for the first year)||Varies depending on custodian|
|Information Kit||Physical Kit||Physical Kit|
|Verdict||Best For Fast Rollovers||Best For Transparency||Best For Customer Service|
Who is Patriot Gold Group For?
Americans who want to put a high percentage of precious metals in their retirement account are the best fit for a Patriot Gold Group IRA. With a minimum deposit of $25,000, investors need to feel confident the long-term performance of silver and gold will outpace more traditional IRA investments like ETFs. Also, investors need to deposit over $100,000 into a Patriot Gold Group account to take advantage of its full fee discounts. If you’re a conservative investor who wants to hold a significant amount of physical precious metals for retirement, Patriot Gold Group may provide you with the security and diversification you’re looking for.
Patriot Gold Group FAQs
There’s a lot to consider before opening a precious metals IRA with a vendor like Patriot Gold Group. Check these common questions if you’re still unsure whether to invest with Patriot Gold Group’s team.
Who Owns Patriot Gold Group?
Jack Hanney is the founder and CEO of Patriot Gold Group. Before running Patriot Gold Group, Hanney held executive roles at companies like Wholesale Direct Metals and Merit Financial Advisors.
Is Patriot Gold Group Trustworthy?
Patriot Gold Group has many trustworthy features, including an A+ rating with the BBB and multiple awards from ConsumerAffairs. The company is also an official Business Consumer Alliance member and has partnerships with IRS-approved depositories and custodians.
Do I Own The Physical Precious Metals in A Patriot Gold Group IRA Account?
IRA investors own every physical gold and silver product they purchase. Although IRA holders can’t touch their precious metals till they reach retirement age, these metals are legally their property.
Can I See How My Investment Is Performing With Patriot Gold Group?
Patriot Gold Group has a few real-time price charts on its website, but it doesn’t offer a personal portal for each client’s portfolio. You’ll need to keep tabs on your precious metal purchases in a personal Spreadsheet or call Patriot Gold Group to determine your holdings’ value.
Where Does Patriot Gold Group Store My Precious Metals?
IRA investors choose from one of Patriot Gold Group’s partner depositories and custodians like Delaware Depository and Brinks International. No matter where you choose to store your precious metals, Patriot Gold Group guarantees the facility will meet the IRS’s guidelines for security.
Do Contributions on a Patriot Gold Group Account Work the Same as a Regular IRA Account?
Contribution limits are the same for a Patriot Gold Group IRA as they are for traditional IRA accounts. For instance, the max contribution limit for a Traditional IRA is $6,500 per year before 50, so that’s all you can spend in a Patriot Gold Group IRA account.
What Are the Tax Advantages of a Patriot Gold Group IRA Account?
You enjoy the same tax advantages with a Patriot Gold Group IRA as a standard IRA account. So, if you transfer a Traditional IRA onto Patriot Gold Group’s platform, you’ll get tax deductions every year you make contributions. By contrast, those who use a Roth IRA don’t pay taxes when they take redemptions after hitting retirement age.
How Can I Make a Withdrawal From My Patriot Gold Group?
To initiate an IRA withdrawal, call Patriot Gold Group at (800) 974-4653 between 7 AM – 5 PM CST Mondays through Thursdays or Fridays between 7 AM – 3 PM CST. Explain whether you want Patriot Gold Group to ship your physical metals or liquidate your holdings for a cash payout.
How Does Patriot Gold Group Make Money?
Most precious metals vendors charge a slight premium (aka a “spread”) for every metal they sell. When working with Patriot Gold Group, you’ll likely pay slightly above the market price for gold or silver.
Where Is Patriot Gold Group’s Headquarters?
Patriot Gold Group’s headquarters are located at:
Patriot Gold Group
3010 Old Ranch Parkway, Suite 350
Seal Beach, CA 90740
Do I Pay The Shipping on my Patriot Gold Group IRA?
Patriot Gold Group advertises free shipping for all of its precious metals. You won’t pay for transit if you request a withdrawal from an IRA or make a direct-to-home purchase.
How Do I Rollover Funds from Another Account Into a Patriot Gold Group IRA Account?
Patriot Gold Group has an e-form at the bottom of its “Open a Precious Metals IRA“ tab where you can submit your info and start the IRA rollover process. Investors can also call Patriot Gold Group at (800) 974-4653 to move funds from an existing IRA to Patriot Gold Group.
In A Nutshell
- Key Highlight: Fast gold IRA rollovers
- Minimum Investment: $2,000
- Metals Available: Gold and silver bullion and coins, palladium, and platinum
- Ratings: 4.9/5.0 over 90 reviews (Trustpilot); 5.0/5.0 Only one review (BBB) and A+ rating with BBB
If you want to add at least $25,000 worth of gold or silver to your retirement portfolio, then a Patriot Gold Group IRA is worth considering. Thanks to its long history and strong accreditations, Patriot Gold Group is a reputable name in the American precious metals market. This company is also an excellent option for people who want to buy coins, bars, or bullion for direct shipment. Just be sure to call Patriot Gold Group and discuss the specific fees you’ll pay depending on your initial deposit and partner custodian so there are no surprises when you open an IRA account.
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Eric Esposito is a freelance writer, editor, and cryptocurrency enthusiast. Although it took him a few years to grasp the Bitcoin revolution, Eric has become a crypto convert and long-term “hodler.” Besides crypto investing, Eric is interested in helping others understand how to safely stack sats with passive income opportunities.