Advantage Gold has been in the precious metals business for less than 10 years. But since being founded in 2014, this company has become one of the most popular choices for gold IRA investments. There are thousands of reviews from past consumers online. But is this actually the best company to use, or do people simply use it like a default option?
About Advantage Gold
Advantage Gold has been operating since 2014 and is an incredibly popular choice for retirement investments. They specialize in precious metals IRAs, connecting customers to the paperwork and the custodians to set up an account. Once you've created a self-directed IRA, they match you with precious metals products that you can buy with your retirement assets.
Some companies have tangential IRA services, but they don't focus strongly on this. That's not the case with Advantage Gold. Every aspect of the firm is built to cater to IRA planning. In fact, they have an entire in-house IRA department. This department is full of tax experts and finance experts and retirement planning experts who help convert your retirement funds into gold as efficiently as possible.
The idea is that the experts at Advantage Gold can demystify the IRA process and help you through every single step. Some of the assistance that they provide includes:
Advantage Gold's buyback policy has also caused a stir because the offers tend to be much higher than what you get at the average dealer. Company policy states that there will be a minimum offer of the spot price for the metals. Sometimes there will be an additional offer on top of this. Typically, the buyback system takes 24 hours or less to initiate. As soon as the metals have arrived with Advantage Gold and been inspected, you'll receive your payment.
Education is a mandatory part of the experience, but don't worry. You aren't obligated to sit through any boring lectures or read any dry texts. You can simply ask your representative questions throughout the process. They'll ask you questions in turn, learning about who you are, what you want, how much time you have before you retire, and what specific concerns you have about the future.
It doesn't matter whether you're a beginning or experienced investor: There's something for everyone. Advantage Gold is particularly beginner-friendly, though. Many of the customer reviews state that the customer is a beginner who felt much more comfortable after talking to their rep. The reps explain the whole process and help you to make the decision that's right for you, even if that decision costs them a sale.
In addition to all of this information, Advantage Gold has the following qualifications:
Advantage Gold has a large number of products including platinum, gold, and silver. Because they are focused on retirement accounts, the vast majority of their inventory is eligible for a gold IRA. There's a thriving selection of coins from the US and Canada, along with a handful of coins from other international mints.
Some of the gold coins available include American Buffaloes, American Eagles, Proof American Buffaloes, Proof American Eagles, Canadian Maple Leafs, Canadian Wild Horses, Canadian Wolverines, Canadian Polar Bears, and Canadian Bighorn Sheep.
There are similar animal-themed Canadian coins in silver, including the bighorn sheep, wolverine, wild horse, polar bear, great-horned owl, and woodland caribou. Then there are silver Proof American Eagles, though other silver US coins are limited.
The platinum offerings are the most limited. There are regular and proof American Eagles, along with a Canadian Maple Leaf, Australian Humpback Whale, Australian Leopard Seal, and Australian Emperor Penguin. Palladium options are nonexistent except for a Canadian Maple Leaf option.
These coins are available in a variety of different weights. Their value fluctuates as the price of precious metals changes, but they are all high quality investment grade bullion options for your IRA.
Custodian and Storage Options
When you invest in a gold IRA, one of the first decisions you'll need to make is about your custodian and storage options. Your custodian is in charge of monitoring your account, managing your assets, and giving you ongoing reports about your holdings. Your storage partner is responsible for keeping your gold secure.
Advantage Gold has partnered with two of the top industry picks for self-directed IRA management: Equity Trust Company and Strata Trust Company. Many of the most well-reviewed gold IRA companies also partner with one or both of these entities.
Strata Trust Company is a Texas-based IRA custodian that has existed since 2008. They have a great reputation in the industry and manage millions of dollars in client assets. Because of their Texas headquarters, they are often favored by people who appreciate the culture of the South.
Equity Trust Company manages over 200,000 accounts for clients in every state in the US. Their clients have entrusted them with more than $34 billion in combined retirement holdings. This company has a long history in the industry, with over 45 years in the financial services sector and 400 employees today.
As for storage options, there are three main depositories to choose from.
The first is the Delaware Depository in Delaware. This is one of the most common options that you'll find with any gold IRA company. That's because the Delaware Depository is in a tax-advantaged state, is the biggest gold depository in the nation, and has been operating for well over 200 years.
The other two options are run through Brinks Global Services, one of the largest security corporations in the world. Brinks has hundreds of depositories all over the globe, but Advantage Gold prioritizes just two locations: one in Los Angeles, California; and the other in Salt Lake City, Utah.
This does mean that storage options are slightly limited if you live in the South and want a regional choice. Advantage Gold also doesn't have partnerships with any international depositories, so you can't store your gold outside the US. But if you have a particular depository in mind, you can probably ask your representative if it's possible to house your items there.
When you go to the Advantage Gold website, you can find links to the application for both Equity Trust Company and Strata Trust Company. The application doesn't take long to do, and once you complete it, the account will be created. It's also possible to call Advantage Gold and ask a representative to walk you through each field. Even though the applications are straightforward, some people might prefer this reassurance, as it helps them to make sure that they haven't missed anything.
Fees and Costs
Some of the fees for an IRA are incurred through your custodian. So it depends on the custodian that you choose.
If you work with Strata, there is a fee of $50 for setting up the account. You'll pay $95 annually for maintenance as a flat fee. This won't change no matter how much gold you accrue, so you always know exactly what you're spending.
If you work with Equity Trust, there's also a $50 fee for setting up the account. The annual maintenance fee is variable based on how much you have in your holdings, with a minimum of $225.
As for storage, you can expect to pay the same amount at every depository on the list. But you'll need to decide if you want segregated storage or not. A segregated vault costs $150 per year, while non-segregated costs $100 per year. Some people prefer segregated vaults because their items are inaccessible to anyone except them and their custodian. But non-segregated storage is still regularly audited and extremely secure.
Is Advantage Gold a Scam?
Advantage Gold isn't a scam. If anything, it appears to be one of the most popular and well-reviewed companies in the industry. There's a mindboggling amount of positive feedback, especially considering the lack of complaints. On the company's BBB page, there have been zero complaints in the past year and only one in the past three years. That complaint has been resolved, and the details can no longer be accessed online.
Meanwhile, you can find several thousand glowing reviews on third party websites. The BBB shows a customer rating of 4.81 stars with 63 reviews. The organization itself gives Advantage Gold an A+, and they have been accredited since 2014.
On Consumer Affairs, the company has 5 stars with 427 reviews. Trustpilot shows 5 stars with about 1,400 reviews. Very little negative feedback has been posted about the company, but positive reviews are easy to come by. Let's take a look at a few.
We can't look at thousands of consumer reviews. But we can check out some of the recent BBB reviews to see what past customers liked.
At a glance, many of the reviews are short but mention their company representative by name. Several of the most recent ones say that they worked with Adam. Customers indicate that Adam is patient, helpful, and extremely easy to talk to. He's helped them to feel at ease in the financial decisions that they're making.
One couple left a review saying that they both felt uncertain about their finances with the current turbulent economic and political situation. They were drawn toward gold after looking into different ways to secure their retirement against further upheaval. When the husband contacted Advantage Gold, he was taken care of by the representative Mark. He said that Mark was friendly and knowledgeable, taking the time to understand his needs and making expert suggestions for his portfolio.
One customer left a review saying that she and her husband are both novices in the world of precious metals investment. She worked with Steve and Justin at Advantage Gold, who explained the entire process and anticipated the customer's questions. Even once the initial transaction was finished and the metals had been shipped, the company reps continued to stay in touch and to make sure that the customer could reach them if anything was ever needed.
One customer left a review saying that he had an incredible experience thanks to working with Justin. He said that Justin was a champion of open communication and trust, and that he went above and beyond in making sure that the portfolio was tailored for the customer's specific needs. The customer said that he felt welcomed and like he could ask whatever questions he had, and so he planned to have a long relationship with Advantage Gold.
Pros & Cons of Advantage Gold
Advantage Gold is a solid choice if you're looking for an IRA company with a good reputation. They have thousands of positive customer reviews and almost no negative feedback, with the lone existing complaint having been taken down after it was resolved. Customers consistently praise their representatives by name, saying that they are patient and take the time to tailor their solutions to the individual.
There are a few potential drawbacks of working with Advantage Gold, but these are frequently seen in other companies, too. For example, they don't show pricing for their products online. You have to call and ask for a quote if you're interested in buying. But you'll run into similar issues with high-end competitors. The only suggestion we'd make is using Goldco instead if you want a super streamlined experience.