Hey there gold lover! In this post, we’re going to take a look at another great company for you to bet your money in!
Founded in 2002, Gold Alliance is a precious metals dealer that has risen through the ranks in just 10 years of operation. Now it’s become one of the most well-known gold IRA dealers in the US.
The company offers quite a range of IRA-approved gold and silver metals available in various weights. Unfortunately, the firm does not list product prices on their website, instead you’ll need to call a toll-free number to speak with a representative.
This lack of price transparency makes it undeniably difficult for you to make comparisons with other dealers in the market. As such, to make things easier for you we compiled this review!
Here, we’ll cover Gold Alliance’s products and services, account minimum and fees, company reliability, and more. Let’s start!
Gold Alliance Pros and Cons
Before we get right into it, here’s a brief pros and cons of the company!
Our Goldco Category Rating
We researched well-known companies in the industry to determine how Gold Alliance performs against top competitors. Here’s a detailed rating of its performance.
Products & Services
What You Get With Gold Alliance Investing:
Quick Summary: Why We Recommend Gold Alliance
Overview: Gold Alliance is a leading precious metals dealer and has been serving clients within and beyond Reno for over 10 years. The company is loved by clients for its lifetime customer support and open buyback policy.
What We Like: Lifetime support, your own account executive, open buyback policy, up-to-date information.
About Gold Alliance
Gold Alliance is a precious metals company based in Reno, Nevada and was established by Joseph Sherman in 2002. Since its inception, the company has expanded to a team of Gold IRA specialists and a popular go-to precious metals dealer in the market.
The dealer firm’s catalog of products include gold, silver, and platinum options. But, what sets the company apart from the competition is; it does not only offer bullions and IRA-eligible metals, but limited vintage that collectors love as well.
If you want to explore more on precious metals investing, Gold alliance has a lot of free resources on its website. In fact, to help newbie investors, it has a “Gold and Silver Investing FAQs” page that answers all common queries – you might want to check this page first!
Advertising Focus and Purpose
Gold alliance focuses on providing financial security to their clients, and abides by the rules of integrity, honesty, and transparency. Along with these, they provide assurance of friendly and experienced service. With their up-to-date educational information and ongoing portfolio support, the company has become a hailed and trusted partner to many clients in the US.
Goldco Products and Services
Before investing your money in precious metals, you need to understand the different types of IRA-eligible products in the market.
Gold Alliances offers a range of IRA-approved precious metal coins and bars, available in various weights. Some of the popular IRA-approved coins and bullions feature well-known mints. The Gold American Eagle, for instance, which is minted by the US Mint, is available in 1 oz, ½ oz, or ¼ oz on their website.
For silver products, the Silver Canadian Maple Leaf and Silver American Eagle are available in 1 oz form. If you want to own a bulkier investment, there is 10 oz and 100 oz silver as well. They also feature a few platinum options like the Platinum Australian Striped Marlin and Platinum British Britannia. Additionally, if collecting is your hobby, you have an extensive range of premium silver and gold coins to choose from.
Gold American Eagle
Gold Spotted Eagle Ray 0.25 oz
Silver Canadian Maple Leaf 1 oz
Silver American Eagle
Platinum Australian Striped Marlin 1/3 oz
Silver Bar 100 oz
Click here to view more IRA-approved Gold Alliance precious metals.
The only downside to Gold Alliance is the lack of price transparency. They don’t publish a list of account minimums and fees on their website. You must call a toll-free number to inquire with a representative for the prices of all available products. This makes it quite difficult for clients to make direct price comparisons with other dealer firms online.
Gold Buyback Program
Gold alliance offers quite an open buyback policy, including purchasing bullions acquired from other companies. It stresses out that it honors its program without question – it purchases all precious metals acquired by clients from Gold Alliance. In the case of those purchased from other dealers, the company just adds one policy – to conduct an inspection before making an offer. It’s important to note, though, this policy only covers coins and bars.
Gold Alliance offers lifetime support to clients, which is obviously much more than just answering questions over a call. You’ll have access to an account executive to cater all your questions, and in case you want advice the Sr. Portfolio Management Team is always ready to assist.
The company’s lifetime support also means you’ll have a portfolio support team on stand-by. They will provide the following benefits.
Assist in paperwork involving precious metals and storage
Making sure you take part in required minimum distributions (RMDs)
Rebalancing your portfolio through economic changes
Establishing precious metals inheritance
Completing buy back transactions
Gold Alliance Account Minimum and Fees
As with all other dealers, Gold Alliance has account minimum costs and fees that you would need to consider. We’ll share what we know. However, it would be better to talk with a Gold Alliance representative yourself to get a more updated pricing list.
For an IRA, you’ll need to invest a minimum of $20,000 to open an account. Non-IRAs, on the other hand, will require you $10,000. When it comes to annual maintenance fees, the cost can vary depending on which custodian you selected. But for now, we only know that Equity Trust, a preferred Gold Alliance custodian, charges a $180 annual maintenance fee, covering storage and insurance costs.
Minimum IRA Investment
Minimum Non-IRA Investment
Annual Fees (storage & insurance)
$180 (Equity Trust, can vary depending on the custodian)
1st-year fees waived for investments over $50,000
Gold Alliance Storage Options
Gold Alliance’s partner depository facility is the Delaware Depository. Located in Wilmington, Delaware, this depository spans 72,000 square feet and armed with Class 3 vaults with top-notch security protocols. It also offers an extensive insurance policy from Lloyds of London – renowned as the most established insurance companies in the globe. Clients can opt for a segregated or non-segregated storage at their discretion.
Gold Alliance Reviews & Disputes
Below we compiled customer reviews from third-party rating companies. As we researched, we only found a number of client reviews for Gold Alliance. Here’s what we found.
Goldco earned an average of 4.9/5 stars from Google Reviews. Majority of clients were pleased with the company's exceptional advisors. People are saying they had a very comfortable experience while working with Goldco. Some also commended the firm for its generous promotions.
But just like any other well-established companies, Goldco also received quite a few criticisms. Many investors did not like the lack of price transparency and high minimums for opening an account.
Better Business Bureau (BBB)
The company received a 4.83/5 stars from BBB. Within the last 3 years, 18 complaints were filed against Goldco, of which it is actively resolving. A lot of these issues involved a misconception on the value of collectible coins. Few customers have complained their investment had no intrinsic value when they inquired with other websites. This, however, was already addressed by Goldco, explaining that the listed value of a collectible coin is based on the melt value, which is distinct from its market value in solid form. (If you have concerns regarding this information, you should reach out to a Goldco representative for better guidance).
Majority of the clients, however, commended Goldco’s support team and were satisfied with the streamlined account set up.
Business Consumer Alliance
Gold Alliance has a triple A rating from BCA with an average of 5/5 from seven reviews. Previous clients loved how committed the firm was in getting them through the ropes of precious metals investing. Many also commend the helpful and friendly staff.
The company earned 3.4/5 stars on Trustpilot from 1 customer review. In contrast to what other clients say from the third-party sites above. One individual is saying that they wouldn’t recommend newbies to invest in Gold Alliance.
You can click on the links to see the actual review yourself.
Opening a Gold IRA with Gold Alliance
Setting up a gold or silver IRA with Goldco is quick and easy. Just follow the steps below and you’re good to go!
- 1The process starts with a consultation with a representative.
- 2Next, an IRA manager will assist you in opening your precious metals IRA.
- 3After funding your account, you’ll be on your way to choosing which metals to invest in.
- 4Lastly, Gold Alliance will ship your holdings to an IRS-eligible depository for storage and safe-keeping.
FAQs on Goldco Investing
Yes. According to our research, the company is eligible to deal with precious metals and has been highly rated from customer reviews in BBB. If you’re thinking of investing your money in this company, you can rest easy that it is completely safe.
Eligible investment accounts that you can rollover to a gold IRA include, Roth, SEP, SIMPLE, 401k, 403b, 457b, and Thrift Savings Account.
Gold alliance offers the option of storing your assets with the Delaware Depository.
An account representative will assist you through the process. To help you choose, they will recommend options based on your investment goals, such as insurance, growth or reducing risk.
Gold alliance partners with reliable and established custodians to complete your rollover transactions. They include Goldstar Trust, Equity Trust, and Preferred Trust.
The IRS establishes the IRA account limits, and these are subject to change. For 2022, the maximum contribution limit is $6,000 or $7,000 for those over the age of 50 for all IRAs.
Gold Alliance recommends to hold your precious metals for at least 3 to 5 years after purchase.
Yes. Gold Alliance offers to purchase precious metals based on the current buy-back rate.
No. You must purchase your gold holdings directly from Gold Alliance.
Gold Alliance works with well-known government mints across the globe that guarantee the authenticity and weight of the metals. In addition, the company has “no-questions-asked-replacement guarantee” for further assurance.
Gold Alliance Review: The Bottomline
Gold Alliance is a fairly good company that offers a wide selection of precious metal products. Its generous buyback program, lifetime exclusive customer support, and up-to-date resources really sets them apart from the rest.
When it comes to custodianship and security, Gold Alliance also offers satisfactory options. You get to choose from three established custodians and store your holdings in the world-renowned Delaware Depository. At an annual fee of $180, you won’t just get a fully insured storage, but online access and quarterly financial updates to your account as well.
Still, we cannot deny that they lack transparency when it comes to pricing and offer quite expensive rates for their account minimums in comparison to the competition. This could dissuade investors, especially newbies, from spending money on them.
That said, Gold Alliance should be perfect for those who want to save on annual costs, but at the same time achieve the same amount of security and quality of service.